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Saxo Bank vs Interactive Brokers
Broker Name
Saxo Bank
Interactive Brokers
Broker Overview
Broker Type (e.g., Market Maker, ECN/STP)
STP broker
Market maker
Years of Existence / Established Year
1992
1993
Customer Base / Number of Accounts
1 million+ clients
3.12M
Regulation & Security
Regulations (governing bodies)
FSA, FCA, MAS, JFSA, SFC, ASIC, DFSA, FINMA, MiFID
SEC, FINRA, NYSE, FCA, FINMA, CFTC, MAS, SFC, CBI, IIROC, JFSA, MiFiD
Awards Won (count for the last 2 years)
Best Prime-of-Prime Broker 2024, Best Trading Platform 2024, Best Forex Broker 2024, Best CFD Broker 2023 and Best DMA/Professional Trading Account 2023
Best Online Broker for Advanced Traders in 2024, Professional Trading 2024, #1 Best Online Broker in 2023, Best for Advanced Traders, Best Online Broker in 2024, Best Stock Broker for International Trading
Security Measures
Danish Depositor and Investor Guarantee Scheme DGS upto EUR 100,000 per depositor
SIPC
SSL Encryption / 2FA
Yes
Yes
Segregated Funds
Yes
Yes
Negative Balance Protection
Yes
Yes
Trading Instruments/Products Offered
Assets Types / Trading Instruments (total count and breakdown)
over 71,000 financial instruments including Turbos
150 Markets including Forecast and event contracts, Spot currencies,US spot Gold, Hedge funds
Currency Pairs
Yes
Yes
Commodities
Yes
No
Indices
No
No
Cryptocurrencies
Yes
Yes
CFDs
Yes
No
ETFs
Yes
Yes
Stocks
Yes
Yes
Options
Yes
Yes
Futures
Yes
Yes
Bonds
Yes
Yes
Mutual Funds
Yes
Yes
Fractional Shares
Exchange Traded Notes (ETNs)
No
No
Precious Metals
No
Yes
Real Estate Investment Trusts (REITs)
No
No
Equities
No
No
Trading Platforms & Technology
Trading Platform Availability
Yes
Yes
MT4
No
No
MT5
No
No
cTrader
No
No
Social Trading
No
Copy Trading
Yes
Yes
Other Trading Platforms (proprietary, etc.)
Saxo investor, SaxoTrader GO, SaxoTrader PRO
IBKR global Trader, Client Portal, Desktop, Mobile, Trader workstation, APIs, Forecast Trader, IMPACT
Platform Compatibility (Windows, Mac, iOS, Android)
Yes
Yes
Account Types & Conditions
Account Types (Retail, Pro, VIP, etc.)
Saxo account, Joint account, Corporate account, Professional account
Individual, Joint, Trust, IRA and UGMA/UTMA Accounts, Non-Professional Advisor Accounts, Family Office Accounts, Small Business Accounts, Advisor Accounts, Money Manager Accounts, Broker & FCM Accounts, Proprietary Trading Group Accounts, Hedge Fund & Mutual Fund Accounts, Compliance Officers, Administrators, Institutional Hedge Fund Investors
Demo Account (Yes/No)
Yes
Yes
Islamic Accounts (Yes/No)
No
Yes
Minimum Deposit
$0
$0
Leverage Available
1:50-1:100
10:1 to 50:1
Trade Limit (maximum per trade)
Depends on the assets class
EUR 5,000,000
Commission (per account type)
$0
$0
Best Suited For (e.g., beginners, experienced traders)
Beginners to experienced traders
Beginner to advanced traders
Deposit & Withdrawal Options
Deposit Methods
VAN bank transfer, Bank transfer, Telegraphic transfer, Credit/ debit card
ACH transfer, Link a new bank account, Bank wire, Transfer from wise balance, Scan a check , Mail a check, SEPA
Withdrawal Methods
Telegraphic Transfer, MEPS
ACH, Check, Direct debit, Transfer to wise balance, Canadian ETF transfer, SEPA
Other E-Wallets Supported
No
No
Tools & Educational Resources
Economic Calendar
Yes
Yes
Tools & Educational Resources (tutorials, webinars, market news, etc.)
Saxo Academy Trading Education, Market Analysis and Insights, Webinars, Trading Strategies and Ideas, Saxo TV Market News and Analysis
Traders' Academy (Online Courses), IBKR Webinars, Market Insights and Analysis, Trader's University (Video Tutorials), IBKR Quant Blog (Quantitative Trading), Customer Education (Trading Guides)
Fees & Commissions
Trading-Related Fees
Stocks - $1, ETFs-$1, Bonds- 0.05%, Mutual funds- $0, Spread on Major forex pairs- from 0.7 to 0.9 pips
IBKR Lite: Commission-free U.S. stocks, ETFs, and specific mutual funds, IBKR Pro: $0.005 per share, minimum $1 per trade
Spread (typical, fixed, variable)
Variable
Fixed spread
Per Lot Fees
NA
NA
Options Contract Fees
$0.75
$0.65/contract
Futures Contract Fees
$1
$0.85
Markup Fees on Spread
NA
$1.50
Guaranteed Stop Loss Fees
NA
NA
Maximum Leverage
1:1000
50:1
Non-Trading Fees
Dormant Fees
$0
$0
Subscription Fees (for premium features, data feeds)
100 EUR per ISIN
NA
Advisory Fees
NA
It depends up on the account type
Swap Fees (Overnight Financing)
Yes
over $10 million free
Statement or Document Fee
NA
NA
Account Opening Fee
NA
$0
Account Maintenance Fee
NA
$0
Deposit Fee
Plus or minus 0.25%
$0
Currency Conversion Fee
$0
$0.03
Withdrawal Fee
$0 bank fees may apply
$10 outgoing wire transfer fee
Bonuses, Promotions & Benefits
Bonuses, Promotions, and Referrals
Yes
Yes
Customer Benefits (e.g., Retirement Plan)
No
Yes
Trading Hours
Trading Hours (for each asset class if applicable)
Varies by instrument
9:30 AM - 4:00 PM ET, Monday through Friday Overnight trading hours: 8:00 PM ET - 3:50 AM ET, Sunday through Friday
Customer Support
Support Hours (e.g., 24/7, weekdays only)
24/5
24/7
Customer Support Methods (phone, email, live chat)
Phone: +33 1 78 94 56 40, +44 (0)207 151 2100, +39 02 3668 2929, +31 (0)20 225 5900, +41 58 317 95 00. E-mail: [email protected], Live chat
Phone: 1 (888) 919-0022, E-mail: [email protected], Live chat
Support Languages
24+
33
Additional Information
Headquarters Location
Copenhagen, Denmark
Greenwich, Connecticut
Complaints (for crypto brokers)
No
No
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