Saxo Bank vs IC Markets 2026: Which Broker is Better?
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 vs IC Markets: Key Differences
Saxo Bank
WinnerIC Markets
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Fees Comparison
Saxo Bank
IC Markets
Regulation & Trust
Saxo Bank holds licences from FCA, MAS, ASIC. IC Markets is regulated by ASIC, CySEC.
Markets & Assets
Both brokers offer access to Stocks, Forex, Cfd, Indices markets. Saxo Bank additionally covers Commodities. IC Markets adds Crypto.
Fees & Spreads
On spreads, IC Markets is more competitive with EUR/USD spreads from 0.0 pips, compared to 0.4 pips at Saxo Bank.
Trading Platforms
Saxo Bank supports Proprietary Web, Proprietary Mobile. IC Markets offers MT4, MT5, TradingView, Proprietary Mobile. Both brokers are available on Proprietary Mobile.
Minimum Deposit
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.
Overall Ratings
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.
BrokerRank Verdict
Who Should Choose Which?
Saxo Bank
4.0/5
Choose Saxo Bank if you want…
- Higher overall rating (4.0/5)
- More regulatory licences (3)
- More established (est. 1992)
IC Markets
3.9/5
Choose IC Markets if you want…
- Tighter spreads (from 0 pips)
- Lower minimum deposit ($200)
- Higher leverage (up to 1:500)
- More market types (6)
Also consider
We earn a commission when you open an account through these links, at no extra cost to you. Our ratings are scored independently — see the full independent ranking.
Both Saxo Bank & IC Markets are available in
Frequently Asked Questions
1Is Saxo Bank better than IC Markets?
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.
2Which has lower fees, Saxo Bank or IC Markets?
Saxo Bank offers spreads from 0.4 pips, while IC Markets starts at 0 pips. Check the fees section above for a full breakdown.
3What is the minimum deposit for Saxo Bank vs IC Markets?
Saxo Bank requires a minimum deposit of $2000. IC Markets requires $200.
4Which broker is safer, Saxo Bank or IC Markets?
Saxo Bank is regulated by FCA, MAS, ASIC, while IC Markets holds licences from ASIC, CySEC.
5What trading platforms do Saxo Bank and IC Markets support?
Saxo Bank supports Proprietary Web, Proprietary Mobile. IC Markets supports MT4, MT5, TradingView, Proprietary Mobile.
6Can I use both Saxo Bank and IC Markets?
Yes, you can hold accounts at multiple brokers simultaneously. Many traders diversify across platforms to access different markets and tools.
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