Interactive Brokers vs Saxo Bank 2026: Which Broker is Better?

Regulation & Safety

Interactive Brokers, established in 1978, is a robustly regulated entity overseen by top-tier regulatory bodies such as the SEC and CFTC in the USA, the FCA in the UK, MAS in Singapore, and ASIC in Australia. These extensive regulatory oversight measures ensure a high level of safety and reliability for investors. The broker also participates in various investor protection schemes, safeguarding clients' funds up to certain limits depending on the jurisdiction.

In contrast, Saxo Bank, founded in 1992 and headquartered in Copenhagen, Denmark, is similarly regulated by the FCA, MAS, and ASIC. This provides a reliable safety net for traders, although it does not have the same breadth of regulatory coverage as Interactive Brokers. Saxo Bank also offers protection through investor compensation schemes in the jurisdictions it operates, ensuring that client funds are secure.

Fees & Spreads

Interactive Brokers is known for its competitive fee structure with spreads starting at 0.2 pips. The commission is remarkably low at 0.005, making it particularly attractive for high-volume traders. The absence of a minimum deposit requirement further enhances its appeal, although there is an inactivity fee for smaller accounts. The broker offers a maximum leverage of 1:4, which is relatively conservative but aligns with its focus on risk management.

Saxo Bank, on the other hand, sets its spreads starting from 0.4 pips, with a commission of 0.08. The minimum deposit is significantly higher at $2,000, which could be a barrier for new traders. However, Saxo Bank offers a high leverage cap of 1:200, appealing to those who are willing to take on more risk. Despite the higher fees, the broker provides access to a wide range of 40,000+ instruments, including real stocks and bonds.

Trading Platforms

Interactive Brokers offers proprietary web and mobile platforms that are well-suited for professional traders due to their advanced analytical tools and customisation options. However, these platforms can be complex for beginners. Saxo Bank's proprietary SaxoTraderGO platform is designed with a professional-grade interface, providing comprehensive research and analysis capabilities. Both brokers offer mobile access, yet Saxo Bank's platform is often praised for its user-friendly design.

Who Should Choose Interactive Brokers?

• Experienced traders seeking access to 150+ markets across 33 countries.
• High-frequency traders looking for low commission structures.
• Investors who prefer top-tier regulatory oversight for enhanced security.
• Traders in need of advanced analytical tools and customisation options.

Who Should Choose Saxo Bank?

• Investors interested in trading a wide array of 40,000+ instruments.
• Traders seeking a professional-grade platform with robust research capabilities.
• Clients who prefer trading real stocks and bonds alongside CFDs.
• Experienced traders comfortable with a higher minimum deposit and leverage.

Our Verdict

For beginners, Interactive Brokers may not be suitable due to its complex platform, while Saxo Bank's high minimum deposit could be a barrier. For professional traders, Interactive Brokers is a better choice due to its low fees and broad market access. On fees, Interactive Brokers is the clear winner with its very low commissions and absence of a minimum deposit.