Saxo vs InteractiveBrokers
Compare Saxo vs InteractiveBrokers Side by Side
It is always difficult to choose among brokers that are big players on the market, especially when it’s Saxo vs InteractiveBrokers. For this reason, we made a detailed comparison between Saxo Review and Interactive Brokers Review, compared safety and licenses, trading conditions with fees, trading platforms, instruments, deposit & withdrawal conditions, and all the essential details compared side by side.
|Licenses||Denmark, Australia, UK, Singapore, UAE, Japan, Hong Kong, Turkey||USA, Canada, Australia, UK, Hong Kong, Japan|
|Minimum Deposit||2000 US$||2000 US$|
|Trading Platforms||SaxoTraderGO, SaxoTraderPRO, MT4||TWS, IB WebTrader|
|Eurusd avg Spread||0.8 pips||0.3 pips|
|Licenses Countries Info (short)|
Saxo vs InteractiveBrokers both holding UK and Australia licenses, along with Japan license. Interactive Brokers can stand out here with its USA and Canada licenses, while Saxo has just more licenses in general, meaning it has a bigger outreach trader-wise.
Saxo is a Market Maker which is a great opportunity for beginning traders and some strategies due to its stability of a preset fee or spread. While Interactive Brokers is an NDD Broker is better for price transparency.
There are certain similarities in trading conditions of Saxo vs Interactive Brokers, as they are both suitable for beginners offer their traders tight spreads and even offer the services of the Expert advisors. At the same time Saxo provides a wider range of possibilities, including scalping, hedging and social trading, which is quite an advantage.
Fees & Commissions
|Inactivity Feemonth||up to 150 $||0$|
|Deposit fee||0 $||0$|
|Withdrawal fee||0 $||0$|
|Rollover fee eurusd buy 1 lot||-0.60%||-1.5%|
|Rollover fee eurusd sell 1 lot||+0.60%||+1.5%|
|Avg Eurusd standard acc||0.8 pips||0.3 pips|
Both Saxo vs Interactive Brokers offer relatively low trading fees, but there are brokers’ pricing models to consider. Interactive Brokers trading fees are based on charge of the commission per trade also ranging on a product you trade, hence the prices are quite competitive since does not include spreads and allows you easy calculation. At the same time Saxo Bank traders can benefit from the tight-spreads and low commissions.
While both Saxo vs Interactive Brokers offer Standard accounts, Interactive Brokers have a slight advantage here for offering more than 10 account types based on traders needs and peculiarities, such as Family Accounts, Small Business Accounts, Proprietary Trading Group Accounts, etc.
Markets & Instruments
Interactive Brokers products range is more advanced compared to Saxo and offers Options and Futures that Saxo does not have listed. But if we look at the numbers of each product type, then Saxo is an obvious leader here.
Both Brokers offer proprietary Trading Platforms, and both offer additional platforms like MetaTrader4 for Saxo and WebTrader for InteractiveBrokers. However, Saxo has an advantage here by providing access to the third-party software with the concept of social trading, which offers clients to connect to trading communities and successful investors.
Deposit & Withdrawal Methods
The range of Saxo payment methods is quite limited, as the broker does not accept Third Party Payments and only accepts funds originating from a bank account. Meanwhile, Interactive Brokers traders can perform deposits or withdraw funds through various options, including bank wire transfers, BPay, ACH Initiated, Canadian Bill and many more.
Both Saxo vs Interactive Brokers provide professional and well-established customer support centers. As to the educational materials, Saxo lacks of education courses, while a big advantage of the Interactive Brokers is its Trading Academy as well as numerous Apps, widgets or progressive software.
Conclusion on Saxo vs InteractiveBrokers
Concluding Saxo vs Interactive Brokers comparison we found both brokers are trustable, provide good standing, internationally presented and well-regulated. Both brokers provide good trading conditions, a large number of trading instruments and low trading fees. However, the advantage goes to Saxo for offering a wider range of trading possibilities and trading instruments. Here is our final recommendation:
- Saxo – 🥇Best Broker for Retail Traders providing the same access and features as an institution or organization.
- Interactive Brokers – 🥇 Best for Professional trading giving the advanced proposal and technological solutions for experienced and demanding traders.