Written by ForexBrokers.com
Is Saxo Bank better than Interactive Brokers? In our analysis of 23 international regulators across 62 of the best forex brokers, Saxo Bank is considered low-risk, with an overall Trust Score of 99 out of 99. Interactive Brokers is considered low-risk, with an overall Trust Score of 99 out of 99. Learn more about Trust Score.
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❯×| Overall Rating | Saxo Bank | Interactive Brokers | |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Bank Review | Interactive Brokers Review |
| Regulation | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Trust Score | 99 | 99 | |
| Year Founded | 1992 | 1977 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Authorised in European Union | Yes | Yes | |
| Tier-1 Licenses | 6 | 8 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 |
| Tier-1 Licenses (High Trust) | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| ASIC Authorised (Australia) | Yes | Yes | |
| IIROC Authorised (Canada) | No | Yes | |
| SFC Authorised (Hong Kong) | Yes | Yes | |
| CBI Authorised (Ireland) | No | Yes | |
| FSA Authorised (Japan) | Yes | Yes | |
| MAS Authorised (Singapore) | Yes | Yes | |
| FINMA Authorised (Switzerland) | Yes | Yes | |
| FCA Authorised (U.K.) | Yes | Yes | |
| CFTC Registered (USA) | No | Yes | |
| FMA Authorised (New Zealand) | No | No |
| Tier-2 Licenses (Average Trust) | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| CBRC Authorised (China) | No | No | |
| CySEC Authorised (Cyprus) | No | No | |
| SEBI Authorised (India) | No | Yes | |
| ISA Authorised (Israel) | No | No | |
| CBR Authorised (Russia) | No | No | |
| FSCA Authorised (South Africa) | No | No | |
| SEC Authorised (Thailand) | No | No | |
| DFSA / Central Bank Authorised (UAE) | Yes | No |
| Tier-3 Licenses (Low Trust) | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| SCB Authorised (Bahamas) | No | No | |
| FSC Authorised (Belize) | No | No | |
| CIMA Authorised (Cayman Islands) | No | No | |
| BMA Authorised (Bermuda) | No | No | |
| FSC Authorised (British Virgin Islands) | No | No | |
| FSC Authorised (Mauritius) | No | No | |
| VFSC Authorised (Vanuatu) | No | No |
| Investments | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 60000 | 8500 | |
| Forex Pairs (Total) | 190 | 90 | |
| U.S. Stock Trading (Non CFD) | Yes | Yes | |
| Int'l Stock Trading (Non CFD) | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| Cryptocurrency (Physical) | No | Yes | |
| Cryptocurrency (CFD) | Yes | No | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Average Spread EUR/USD - Standard | 0.9 | 0.6 | |
| All-in Cost EUR/USD - Active | 0.7 | 0.6 | |
| Active Trader or VIP Discounts | Yes | Yes | |
| Execution: Agency Broker | Yes | Yes | |
| Execution: Market Maker | Yes | No |
| Funding | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Minimum Deposit | €2,000 | $0 | |
| PayPal (Deposit/Withdraw) | No | No | |
| Skrill (Deposit/Withdraw) | No | No | |
| Visa/Mastercard (Credit/Debit) | Yes | No | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
| Trading Platforms | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Proprietary Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | Yes | |
| Web Platform | Yes | Yes | |
| Social Trading / Copy Trading | Yes | No | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No | |
| DupliTrade | No | No | |
| ZuluTrade | No | No | |
| Trading Platforms Gallery (click to expand) |
| Trading Tools | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Alerts - Basic Fields | Yes | Yes | |
| Watchlists - Total Fields | 62 | 640 | |
| Charting - Indicators / Studies (Total) | 62 | 128 | |
| Charting - Drawing Tools (Total) | 20 | 85 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Alerts - Basic Fields | Yes | Yes | |
| Mobile Watchlist | Yes | Yes | |
| Watchlist Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 62 | 97 | |
| Mobile Charting - Draw Trendlines | Yes | Yes | |
| Mobile Charting - Multiple Time Frames | Yes | Yes | |
| Mobile Charting - Drawings Autosave | Yes | No | |
| Forex Calendar | Yes | Yes | |
| Mobile Trading Gallery (click to expand) |
| Research | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Daily Market Commentary | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central (Recognia) | No | Yes | |
| Social Sentiment - Currency Pairs | Yes | Yes | |
| Economic Calendar | Yes | Yes | |
| Research Gallery (click to expand) |
| Education | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| Has Education - Forex or CFDs | Yes | Yes | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes | |
| Investor Dictionary (Glossary) | Yes | Yes | |
| Education Gallery (click to expand) |
| Major Forex Pairs | Saxo Bank | Interactive Brokers | |
|---|---|---|---|
| GBP/USD | Yes | Yes | |
| USD/JPY | Yes | Yes | |
| EUR/USD | Yes | Yes | |
| USD/CHF | Yes | Yes | |
| USD/CAD | Yes | Yes | |
| NZD/USD | Yes | Yes | |
| AUD/USD | Yes | Yes | |
| Review | Saxo Bank Review | Interactive Brokers Review |
| Overall | Saxo Bank | Interactive Brokers | |
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| Commissions & Fees |
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| Offering of Investments |
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| Platform & Tools |
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| Mobile Trading |
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| Research |
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| Education |
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| Trust Score | 99 | 99 | |
| Winner | check_circle | ||
| Review | Saxo Bank Review | Interactive Brokers Review |
Compare
0 of 5Comparing forex brokers side by side is no easy task. For our 2023 annual forex broker review, we spent hundreds of hours assessing 62 forex and CFD brokerages to find the best forex broker. Let's compare Saxo Bank vs Interactive Brokers.
Comparing the trading costs of forex and CFDs is not easy. Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Interactive Brokers offers better pricing overall for traders.
At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 23 international regulator databases. Here's our findings. Interactive Brokers holds 8 global Tier-1 licenses, while Saxo Bank holds 6. Both Saxo Bank and Interactive Brokers hold 1 global Tier-2 licenses. In our analysis of 23 international regulators across 50 brokers, Saxo Bank and Interactive Brokers earned the same Trust Score.
To compare the trading platforms of both Saxo Bank and Interactive Brokers, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Saxo Bank offers a better experience. With research, Saxo Bank offers superior market research. Finally, we found Saxo Bank to provide better mobile trading apps.
For forex and CFDs traders, copy trading and MetaTrader are both popular platform options. Neither broker offers Meta Trader.Copy trading is not offered by either broker.
Saxo Bank provides traders 190 currency pairs (e.g., EUR/USD) compared to Interactive Brokers's 90 available pairs. Forex pairs aside, Saxo Bank offers traders access to 60000 CFDs while Interactive Brokers has 8500 available CFDs, a difference of 51500.
Saxo Bank is not publicly traded, does operate a bank, and is authorised by six tier-1 regulators (high trust), one tier-2 regulator (average trust), and zero tier-3 regulators (low trust). Saxo Bank is authorised by the following tier-1 regulators: Australian Securities & Investment Commission (ASIC), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Monetary Authority of Singapore (MAS), Swiss Financial Market Supervisory Authority (FINMA) and the Financial Conduct Authority (FCA).
Interactive Brokers is publicly traded, does not operate a bank, and is authorised by nine tier-1 regulators (high trust), one tier-2 regulators (average trust), and zero tier-3 regulators (low trust). Interactive Brokers is authorised by the following tier-1 regulators: Investment Industry Regulatory Organization of Canada (IIROC), Central Bank of Ireland (CBI), Securities Futures Commission (SFC), Japanese Financial Services Authority (JFSA), Financial Conduct Authority (FCA), Monetary Authority of Singapore (MAS), and the Commodity Futures Trading Commission (CFTC).
Saxo Bank is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
Interactive Brokers is a highly trusted multi-asset broker with an extensive offering of tradeable global markets. It delivers competitive fees and high-quality research and education, as well as a modern, institutional-grade trading platform suite.
Overall winner: Saxo Bank
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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