Higher Rated
IG Group
Capital at risk · T&Cs apply
In comparing IG Group and Saxo Bank, the key difference lies in their target audience and market offerings. IG Group, with over 50 years in the industry and a lower minimum deposit of $250, appeals to both novice and experienced traders seeking a broad range of over 17,000 markets, including CFDs and cryptocurrencies. In contrast, Saxo Bank, with a higher minimum deposit requirement of $2,000, is tailored towards professional traders who value access to real stocks and bonds and the advanced SaxoTraderGO platform. Both brokers offer strong research capabilities, but Saxo Bank's extensive instrument range and professional-grade tools make it more suitable for seasoned investors.
IG Group
Saxo Bank
| IG Group | Saxo Bank | |
|---|---|---|
| BrokerRank Score | 4.3/5 ✓ | 4.0/5 |
| Min. Deposit | $250 | $2000 ✓ |
| Spread from | 0.6 pips | 0.4 pips ✓ |
| Max Leverage | 1:200 | 1:200 |
| Regulation | FCA, ASIC, MAS ✓ | FCA, MAS, ASIC |
| Platforms | Proprietary Web, Proprietary Mobile, MT4 | Proprietary Web, Proprietary Mobile |
IG Group is the better choice overall, scoring 4.3/5 vs 4.0/5 on BrokerRank's independent rating. On fees, Saxo Bank offers lower spreads (0.4 pips).
See full side-by-side comparison belowIG Group
WinnerSaxo Bank
IG Group
Saxo Bank
IG Group and Saxo Bank are both highly reputable brokers with a strong regulatory framework. IG Group is regulated by top-tier authorities such as the Financial Conduct Authority (FCA) in the UK, Australian Securities and Investments Commission (ASIC), Monetary Authority of Singapore (MAS), and the US Securities and Exchange Commission (SEC). This multi-jurisdictional regulation provides IG Group clients with a high level of security and protection.
Saxo Bank is similarly regulated by FCA, MAS, and ASIC, ensuring that it adheres to stringent financial standards. While both brokers offer robust fund protection schemes, IG Group stands out with its extensive global reach and long-standing history of over 50 years in the industry, further enhancing client confidence.
When it comes to fees and spreads, both brokers offer competitive pricing, though there are notable differences. IG Group offers spreads starting from 0.6 pips with no commission on forex trades, making it a cost-effective choice for frequent traders. However, it does have a $250 minimum deposit requirement and an inactivity fee applied after two years, which may affect long-term account holders.
Saxo Bank, on the other hand, provides spreads starting from 0.4 pips but charges a commission of 0.08% on trades. The minimum deposit is significantly higher at $2,000, which could be a barrier for new traders. Saxo Bank's fee structure is generally higher, particularly for smaller accounts, making it more suitable for those with larger investment capital.
IG Group and Saxo Bank both offer proprietary web and mobile platforms. IG Group's platforms are complemented by the widely used MetaTrader 4 (MT4), which is ideal for traders looking for advanced charting tools and automated trading options. Saxo Bank's SaxoTraderGO platform is highly regarded for its professional-grade features, offering a sophisticated trading experience with access to real stocks and bonds, not just CFDs.
IG Group is the better choice for beginners due to its lower minimum deposit and zero-commission trades. Saxo Bank appeals more to professional traders with its advanced platform and extensive range of instruments. When considering fees, IG Group generally offers a more cost-effective solution for forex traders.
IG Group
4.3/5
Choose IG Group if you want…
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
IG Group scores higher overall on our independent rating system. IG Group holds a 4.3/5 rating vs Saxo Bank's 4.0/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
IG Group offers spreads from 0.6 pips, while Saxo Bank starts at 0.4 pips. Check the fees section above for a full breakdown.
IG Group requires a minimum deposit of $250. Saxo Bank requires $2000.
IG Group is regulated by FCA, ASIC, MAS, SEC, while Saxo Bank holds licences from FCA, MAS, ASIC.
IG Group supports Proprietary Web, Proprietary Mobile, MT4. Saxo Bank supports Proprietary Web, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
Only 26% of Brokers Are Truly Fee-Free
BrokerRank Research — Hidden costs across 345 brokers
58% of Brokers Hold a Single Licence
BrokerRank Research — Regulation quality analysis
71% of Retail Traders Lose Money
BrokerRank Research — Loss rates across 50 EU brokers
76% of Brokers Use Proprietary Platforms
BrokerRank Research — MT4 vs MT5 vs proprietary
Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.