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Saxo vs IG
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Compare Saxo vs IG Side by Side
It is always difficult to choose among brokers that are big players in the market, especially when it’s Saxo vs IG. For this reason, we made a detailed comparison between Saxo Review and IG Review, comparing safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details side by side.
Summary
| Feature | Saxo | IG |
|---|---|---|
| Website | //www.home.saxo | //www.ig.com |
| Founded year | 1992 | 1974 |
| Headquarter | Denmark | UK |
| Licenses | Denmark, Australia, UK, Singapore, UAE, Japan, Hong Kong | UK, Australia, Switzerland, Singapore, UAE, Japan, US |
| Minimum Deposit | 2000 US$ | 300 US$ |
| Trading Platforms | SaxoTraderGO, SaxoTraderPRO, MT4 | IG Proprietary, MT4 |
| Eurusd avg Spread | 0.8 pips | 0.6 pips |
Licenses
| Feature | Saxo | IG |
|---|---|---|
| Licenses Countries Info (short) |
|
|
Both Saxo and IG are licensed in the UK, Australia, and Japan. IG differentiates itself with a US license. However, both Saxo and IG possess a broader array of licenses overall, indicating a wider trader outreach.
Broker Types
| Feature | Saxo | IG |
|---|---|---|
| Broker types |
|
|
Saxo vs IG brokers are operating as Market Makers which is a great opportunity for beginning traders and some strategies due to its stability of a preset fee or spread.
Trading Conditions
| Feature | Saxo | IG |
|---|---|---|
| Trading Conditions |
|
|
There are certain similarities in the trading conditions of Saxo and IG, as they are both suitable for beginners offer their traders tight spreads, and even offer the services of Expert advisors. Furthermore, both brokers present an extensive range of options, including scalping, hedging, and social trading, which is a significant benefit.
Fees & Commissions
| Fees & Commissions | Saxo | IG |
|---|---|---|
| Inactivity Feemonth | up to 150 $ | 18 $ |
| Deposit fee | 0 $ | 0 $ |
| Withdrawal fee | 0 $ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.60% | -2.5% |
| Rollover fee eurusd sell 1 lot | +0.60% | +2.5% |
| Avg Eurusd standard acc | 0.8 pips | 0.6 pips |
| Gold | 27 | 30 |
| Brent oil | 5 | 3 |
| Bitcoin | 115 | 65 |
Saxo and IG both provide competitively low trading fees, with their charges embedded in tight-spreads without additional commissions. Neither broker imposes non-trading fees such as deposits or withdrawals. However, both do have inactivity fees, with Saxo’s reaching up to $150.
Account Types
| Feature | Saxo | IG |
|---|---|---|
| Account types |
|
|
IG provides a one-account approach, while Saxo has three account types catering to varied trading needs and styles. It’s noteworthy that neither broker offers Islamic or Swap-free accounts, which may not align with the needs of traders adhering to Sharia principles.
Markets & Instruments
| Markets & Instruments | Saxo | IG |
|---|---|---|
| Forex | 180+ | 200+ |
| Indices | 29 | 78 |
| Commodities | 19 | 45 |
| Cryptocurrencies | 2 | 8 |
| Shares | 9,000+ | 10,000+ |
| Bonds | 40,000+ | ❌ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ✔️ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 3,000+ | 2,000+ |
Both brokers provide a diverse array of trading markets and a significant number of instruments for specific asset types. Notably, Saxo stands out with its vast selection of CFDs on Bonds. When comparing the volume of each product type, Saxo clearly takes the lead.
Trading Platforms
| Feature | Saxo | IG |
|---|---|---|
| Platforms |
|
|
Both Brokers offer proprietary Trading Platforms, whereas IG offers additional platforms like MetaTrader4. However, Saxo has an advantage here by providing access to third-party software with the concept of social trading, which offers clients to connect to trading communities.
Deposit & Withdrawal Methods
| Feature | Saxo | IG |
|---|---|---|
| Payment methods |
|
|
Saxo has a restricted array of payment methods, only accepting funds that come directly from a bank account and not permitting Third Party Payments. On the other hand, IG offers traders a wider selection of deposit and withdrawal methods, encompassing bank wire transfers and several e-wallet options.
Others
| Feature | Saxo | IG |
|---|---|---|
| Others |
|
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Saxo and IG both offer robust and reputable customer support. In terms of educational resources, Saxo falls short on offering educational courses. In contrast, IG stands out with its Trading Academy, complemented by free trading courses, webinars, and an array of other materials.
Conclusion on IG vs Saxo
Concluding Saxo vs IG comparison we determined that both brokers are reliable, boast a solid reputation, have a global presence, and are well-regulated. They both offer favorable trading conditions, a plethora of trading instruments, and competitive fees. Nevertheless, Saxo has an edge with its broader array of trading opportunities and instruments. Whereas traders opting for MT4 platform should choose IG. Here is our final recommendation:
- Saxo – 🥇Best Broker for Retail Traders providing the same access and features as an institution or organization.
- IG – 🥇 Best Trend Trading Broker giving advanced proposals and technological solutions for experienced and demanding traders.
