United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CyprusSaxo vs Interactive Brokers
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 2 countries, and Saxo comes out ahead in every one of them.
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: Saxo from FCA, MAS, SFC, FINMA and Danish FSA, Interactive Brokers from SEC / FINRA, FCA, CBI, ASIC, CIRO, SFC, MAS and JFSA.
- Neither charges an inactivity fee.
- Saxo doesn't charge a withdrawal fee; Interactive Brokers charges up to $10.Edge: Saxo
- We list Saxo in 3 of the 14 countries we cover and Interactive Brokers in 12. They overlap in 2.Edge: Interactive Brokers
- Only Interactive Brokers offers crypto.
- Only Saxo supports TradingView.
- Saxo gets more search attention than Interactive Brokers (Market Signal 67 vs 61). 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 | Saxo | Interactive Brokers |
|---|---|---|
| Netherlands | #2 of 2877/100EU passport Saxo Bank A/S · Danish FSA | #6 of 2867/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Kingdom | #1 of 1778/100Locally licensed Saxo Capital Markets UK Ltd · FCA | #9 of 1767/100Locally licensed Interactive Brokers (U.K.) Limited · FCA |
| Australia | Not listed | #7 of 1667/100Locally licensed Interactive Brokers Australia Pty. Ltd. · ASIC |
| Austria | Not listed | #6 of 2867/100EU passport Interactive Brokers Ireland Limited · CBI |
| Canada | Not listed | #4 of 667/100Locally licensed Interactive Brokers Canada Inc. · CIRO |
| Croatia | Not listed | #4 of 2667/100EU passport Interactive Brokers Ireland Limited · CBI |
| Cyprus | Not listed | #5 of 2867/100EU passport Interactive Brokers Ireland Limited · CBI |
| Germany | Not listed | #7 of 2967/100EU passport Interactive Brokers Ireland Limited · CBI |
| Italy | Not listed | #7 of 3167/100EU passport Interactive Brokers Ireland Limited · CBI |
| Portugal | Not listed | #6 of 2967/100EU passport Interactive Brokers Ireland Limited · CBI |
| Spain | Not listed | #7 of 2967/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Arab Emirates | #2 of 1175/100Locally licensed Saxo Bank (Dubai) Limited · DFSA | Not listed |
| United States | Not listed | #3 of 467/100Locally licensed Interactive Brokers LLC · SEC / FINRA |
CFD brokers
| Country | Saxo | Interactive Brokers |
|---|---|---|
| Netherlands | #2 of 3077/100EU passport Saxo Bank A/S · Danish FSA | #7 of 3067/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Kingdom | #1 of 1878/100Locally licensed Saxo Capital Markets UK Ltd · FCA | #10 of 1867/100Locally licensed Interactive Brokers (U.K.) Limited · FCA |
| Australia | Not listed | #8 of 1867/100Locally licensed Interactive Brokers Australia Pty. Ltd. · ASIC |
| Austria | Not listed | #7 of 3067/100EU passport Interactive Brokers Ireland Limited · CBI |
| Croatia | Not listed | #5 of 2867/100EU passport Interactive Brokers Ireland Limited · CBI |
| Cyprus | Not listed | #6 of 3067/100EU passport Interactive Brokers Ireland Limited · CBI |
| Germany | Not listed | #8 of 3167/100EU passport Interactive Brokers Ireland Limited · CBI |
| Italy | Not listed | #8 of 3367/100EU passport Interactive Brokers Ireland Limited · CBI |
| Portugal | Not listed | #7 of 3167/100EU passport Interactive Brokers Ireland Limited · CBI |
| Spain | Not listed | #8 of 3167/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Arab Emirates | #2 of 1275/100Locally licensed Saxo Bank (Dubai) Limited · DFSA | Not listed |
Stock brokers & investing apps
| Country | Saxo | Interactive Brokers |
|---|---|---|
| Netherlands | #1 of 1076/100EU passport Saxo Bank A/S · Danish FSA | #3 of 1071/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Kingdom | #1 of 776/100Locally licensed Saxo Capital Markets UK Ltd · FCA | #4 of 771/100Locally licensed Interactive Brokers (U.K.) Limited · FCA |
| Australia | Not listed | #5 of 871/100Locally licensed Interactive Brokers Australia Pty. Ltd. · ASIC |
| Austria | Not listed | #2 of 871/100EU passport Interactive Brokers Ireland Limited · CBI |
| Canada | Not listed | #3 of 571/100Locally licensed Interactive Brokers Canada Inc. · CIRO |
| Croatia | Not listed | #2 of 871/100EU passport Interactive Brokers Ireland Limited · CBI |
| Cyprus | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| Germany | Not listed | #2 of 1271/100EU passport Interactive Brokers Ireland Limited · CBI |
| Italy | Not listed | #2 of 1171/100EU passport Interactive Brokers Ireland Limited · CBI |
| Portugal | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| Spain | Not listed | #2 of 971/100EU passport Interactive Brokers Ireland Limited · CBI |
| United Arab Emirates | #1 of 674/100Locally licensed Saxo Bank (Dubai) Limited · DFSA | Not listed |
| United States | Not listed | #6 of 971/100Locally licensed Interactive Brokers LLC · SEC / FINRA |
Fees and features side by side
| Saxo | Interactive Brokers | |
|---|---|---|
| Products | Forex, CFDs, Stocks & ETFs, Options, Futures | Stocks & ETFs, Forex, CFDs, Options, Futures, Crypto |
| Owner | Saxo Bank A/S | IBG LLC |
| EUR/USD all-in cost | Not verified yet | 0.6 pips, IBKR Pro (0.20 bps commission + spread from 0.1 pip) |
| US stock commission | Not verified yet | $1 per order |
| Crypto trading fee | Not verified yet | Not verified yet |
| Currency conversion fee | 0.25% | Not verified yet |
| Inactivity fee | None | None |
| Withdrawal fee | None | Up to $10 |
| Minimum deposit | $0 (Saxo Capital Markets UK Ltd) · €0 (Saxo Bank A/S) | $0 (Interactive Brokers LLC) |
| Instruments | 71,000+ | Not verified yet |
| Fractional shares | Not verified yet | Yes |
| Platforms | SaxoTrader, SaxoInvestor, TradingView | Client Portal, IBKR Desktop, Trader Workstation (TWS) |
| Deposit methods | Domestic bank transfer, Debit card | Wire transfer, Electronic funds transfer (SEPA, ACH, BACS), Check (US only) |
| Withdrawal time (stated) | next business day (requests before 13:00 GMT, domestic transfer) | same day or next day (SEPA and bank wire) |
| Demo account | Yes | Yes |
| Support | email, phone · 24/5 | live chat, email, phone |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (Saxo, Interactive Brokers).
Licences
Interactive Brokers
- Interactive Brokers LLC: SEC / FINRA (Tier 1)
- Interactive Brokers (U.K.) Limited: FCA (Tier 1)
- Interactive Brokers Ireland Limited: CBI (Tier 1)
- Interactive Brokers Australia Pty. Ltd.: ASIC (Tier 1)
- Interactive Brokers Canada Inc.: CIRO (Tier 1)
- Interactive Brokers Hong Kong Limited: SFC (Tier 1)
- Interactive Brokers Singapore Pte. Ltd.: MAS (Tier 1)
- Interactive Brokers Securities Japan Inc.: JFSA (Tier 1)
- Interactive Brokers India Pvt. Ltd.: SEBI (Tier 2)
Saxo vs Interactive Brokers: common questions
Which is better, Saxo or Interactive Brokers?
We rank both for forex in 2 countries, and Saxo comes out ahead in every one of them. For reference, Saxo's best ranking is #1 of 18 CFD brokers in the United Kingdom, and Interactive Brokers' best ranking is #2 of 12 stock brokers & investing apps in Germany.
Is Saxo cheaper than Interactive Brokers?
Neither charges an inactivity fee. Saxo doesn't charge a withdrawal fee; Interactive Brokers charges up to $10.
Is Saxo or Interactive Brokers better regulated?
Both hold top-tier (tier-1) licences: Saxo from FCA, MAS, SFC, FINMA and Danish FSA, Interactive Brokers from SEC / FINRA, FCA, CBI, ASIC, CIRO, SFC, MAS and JFSA. 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 Saxo and Interactive Brokers where I live?
We list Saxo in 3 of the 14 countries we cover and Interactive Brokers in 12. They overlap in 2. For forex, you'll find both on our lists in Netherlands and United Kingdom.