United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CyprusIG vs Saxo
What each one charges, who licenses it, and how they rank against each other country by country.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The short version
We rank both for forex in 3 countries. IG comes out ahead in 2 of them, Saxo in 1.
We score each country separately, based on the company that would actually hold your account there, so check your own country in the table below.
Of the 2 fees we could compare, Saxo is cheaper on 1 and the other is the same.
Both hold top-tier (tier-1) licences: IG from FCA, BaFin and ASIC, Saxo from FCA, MAS, SFC, FINMA and Danish FSA.
- Saxo is cheaper for currency conversion: 0.25%, compared with 0.8% at IG.Edge: Saxo
- Neither charges a withdrawal fee.
- We list IG in 9 of the 14 countries we cover and Saxo in 3. They overlap in 3.Edge: IG
- Only IG supports MetaTrader 4.
- IG gets more search attention than Saxo (Market Signal 71 vs 67). That tells you how well known it is, not how good it is.
Where you can use each one
Where each one ranks on our list in every country we cover, its Coinish Score there, and the company that would hold your account. If a broker isn't allowed to take clients from a country, it isn't on that country's list.
Forex brokers
| Country | IG | Saxo |
|---|---|---|
| Netherlands | #1 of 2877/100EU passport IG Europe GmbH · BaFin | #2 of 2877/100EU passport Saxo Bank A/S · Danish FSA |
| United Arab Emirates | #1 of 1175/100Locally licensed IG (DIFC branch) · DFSA | #2 of 1175/100Locally licensed Saxo Bank (Dubai) Limited · DFSA |
| United Kingdom | #2 of 1777/100Locally licensed IG Markets Ltd · FCA | #1 of 1778/100Locally licensed Saxo Capital Markets UK Ltd · FCA |
| Australia | #1 of 1677/100Locally licensed IG Australia Pty Ltd · ASIC | Not listed |
| Austria | #1 of 2877/100EU passport IG Europe GmbH · BaFin | Not listed |
| Germany | #1 of 2977/100Locally licensed IG Europe GmbH · BaFin | Not listed |
| Italy | #1 of 3177/100EU passport IG Europe GmbH · BaFin | Not listed |
| Portugal | #1 of 2977/100EU passport IG Europe GmbH · BaFin | Not listed |
| Spain | #1 of 2977/100EU passport IG Europe GmbH · BaFin | Not listed |
CFD brokers
| Country | IG | Saxo |
|---|---|---|
| Netherlands | #1 of 3077/100EU passport IG Europe GmbH · BaFin | #2 of 3077/100EU passport Saxo Bank A/S · Danish FSA |
| United Arab Emirates | #1 of 1275/100Locally licensed IG (DIFC branch) · DFSA | #2 of 1275/100Locally licensed Saxo Bank (Dubai) Limited · DFSA |
| United Kingdom | #2 of 1877/100Locally licensed IG Markets Ltd · FCA | #1 of 1878/100Locally licensed Saxo Capital Markets UK Ltd · FCA |
| Australia | #1 of 1877/100Locally licensed IG Australia Pty Ltd · ASIC | Not listed |
| Austria | #1 of 3077/100EU passport IG Europe GmbH · BaFin | Not listed |
| Germany | #1 of 3177/100Locally licensed IG Europe GmbH · BaFin | Not listed |
| Italy | #1 of 3377/100EU passport IG Europe GmbH · BaFin | Not listed |
| Portugal | #1 of 3177/100EU passport IG Europe GmbH · BaFin | Not listed |
| Spain | #1 of 3177/100EU passport IG Europe GmbH · BaFin | Not listed |
Stock brokers & investing apps
| Country | IG | Saxo |
|---|---|---|
| United Kingdom | #2 of 776/100Locally licensed IG Markets Ltd · FCA | #1 of 776/100Locally licensed Saxo Capital Markets UK Ltd · FCA |
| Australia | #2 of 876/100Locally licensed IG Australia Pty Ltd · ASIC | Not listed |
| Netherlands | Not listed | #1 of 1076/100EU passport Saxo Bank A/S · Danish FSA |
| United Arab Emirates | Not listed | #1 of 674/100Locally licensed Saxo Bank (Dubai) Limited · DFSA |
Fees and features side by side
| IG | Saxo | |
|---|---|---|
| Products | Forex, CFDs, Stocks & ETFs, Options | Forex, CFDs, Stocks & ETFs, Options, Futures |
| Owner | IG Group Holdings Plc | Saxo Bank A/S |
| EUR/USD all-in cost | 0.6 pips, CFD / spread bet (minimum spread 0.6, no commission) | Not verified yet |
| US stock commission | $0 per order | Not verified yet |
| Currency conversion fee | 0.8% | 0.25% |
| Inactivity fee | CHF 18 per month after 24 consecutive months with no trading (Swiss accounts; amount differs by region) | None |
| Withdrawal fee | None | None |
| Minimum deposit | $0 (IG Markets Ltd) | $0 (Saxo Capital Markets UK Ltd) · €0 (Saxo Bank A/S) |
| Instruments | 17,000+ | 71,000+ |
| Fractional shares | Not verified yet | Not verified yet |
| Platforms | IG web platform, IG trading app, ProRealTime, L2 Dealer, TradingView, MT4 | SaxoTrader, SaxoInvestor, TradingView |
| Deposit methods | Debit card, Credit card, Apple Pay, Bank transfer | Domestic bank transfer, Debit card |
| Withdrawal time (stated) | card 2–5 bank working days; bank transfer 1–3 working days | next business day (requests before 13:00 GMT, domestic transfer) |
| Demo account | Yes | Yes |
| Support | live chat · 24/7 except Fri 22:00–Sat 08:00 (UK) | email, phone · 24/5 |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (IG, Saxo).
Licences
IG vs Saxo: common questions
Which is better, IG or Saxo?
We rank both for forex in 3 countries. IG comes out ahead in 2 of them, Saxo in 1. For reference, IG's best ranking is #1 of 33 CFD brokers in Italy, and Saxo's best ranking is #1 of 18 CFD brokers in the United Kingdom.
Is IG cheaper than Saxo?
Saxo is cheaper for currency conversion: 0.25%, compared with 0.8% at IG. Neither charges a withdrawal fee.
Is IG or Saxo better regulated?
Both hold top-tier (tier-1) licences: IG from FCA, BaFin and ASIC, Saxo from FCA, MAS, SFC, FINMA and Danish FSA. Which company you actually sign up with depends on where you live; the country table on this page names it for each one.
Can I use both IG and Saxo where I live?
We list IG in 9 of the 14 countries we cover and Saxo in 3. They overlap in 3. For forex, you'll find both on our lists in Netherlands, United Arab Emirates and United Kingdom.