Saxo Bank
IC Markets
VS
Higher Rated
Saxo Bank
Capital at risk · T&Cs apply
Choosing between Saxo Bank and IC Markets depends on your trading style, preferred markets, and budget. Saxo Bank is headquartered in Copenhagen, Denmark, while IC Markets operates from Sydney, Australia. Saxo Bank has the longer track record, established in 1992, compared to IC Markets which was founded in 2007. This in-depth comparison covers regulation, fees, platforms, markets, and overall ratings to help you decide which broker is the better fit in 2026.
Saxo Bank
IC Markets
| Saxo Bank | IC Markets | |
|---|---|---|
| BrokerRank Score | 4.0/5 ✓ | 3.9/5 |
| Min. Deposit | $2000 | $200 ✓ |
| Spread from | 0.4 pips | 0 pips ✓ |
| Max Leverage | 1:200 | 1:500 ✓ |
| Regulation | FCA, MAS, ASIC ✓ | ASIC, CySEC |
| Platforms | Proprietary Web, Proprietary Mobile | MT4, MT5, TradingView |
Saxo Bank is the better choice overall, scoring 4.0/5 vs 3.9/5 on BrokerRank's independent rating. On fees, IC Markets offers lower spreads (0 pips).
See full side-by-side comparison belowSaxo Bank
WinnerIC Markets
Saxo Bank
IC Markets
Saxo Bank holds licences from FCA, MAS, ASIC. IC Markets is regulated by ASIC, CySEC.
Both brokers offer access to Stocks, Forex, Cfd, Indices markets. Saxo Bank additionally covers Commodities. IC Markets adds Crypto.
On spreads, IC Markets is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.4 pips at Saxo Bank.
Saxo Bank supports Proprietary Web, Proprietary Mobile. IC Markets offers MT4, MT5, TradingView, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
Saxo Bank requires a minimum deposit of $2,000, while IC Markets sets a minimum deposit of $200. Both are suitable for traders with moderate starting capital.
BrokerRank scores Saxo Bank at 4.00/5 and IC Markets at 3.87/5, based on 50+ data points covering regulation, fees, platforms, markets, and user experience. Saxo Bank leads overall with a clear advantage.
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
IC Markets
3.9/5
Choose IC Markets if you want…
Saxo Bank scores higher overall on our independent rating system. Saxo Bank holds a 4.0/5 rating vs IC Markets's 3.9/5. The best choice ultimately depends on your trading style — see our full verdict above for a detailed breakdown.
Saxo Bank offers spreads from 0.4 pips, while IC Markets starts at 0 pips. Check the fees section above for a full breakdown.
Saxo Bank requires a minimum deposit of $2000. IC Markets requires $200.
Saxo Bank is regulated by FCA, MAS, ASIC, while IC Markets holds licences from ASIC, CySEC.
Saxo Bank supports Proprietary Web, Proprietary Mobile. IC Markets supports MT4, MT5, TradingView, Proprietary Mobile.
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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Trading involves risk. Past performance is not indicative of future results. Capital at risk. Full risk disclosure.