Saxo Bank vs IG Index

Saxo or IG – which is better for UK traders 2026? Compare Saxo and IG in this detailed breakdown of their platforms, features and fees.

Saxo vs IG Comparison Table 2026
Saxo IG
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4
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4.5
Saxo is ranked #25 among CFD brokers. IG is ranked #3 among CFD brokers.
Review
Review
Saxo Markets is a renowned trading brokerage, investment firm, and regulated bank. Featuring over 72,000 trading instruments, alongside investment products and managed portfolios, it provides abundant opportunities for clients. This reputable brand ensures transparent pricing and is protected by top-tier regulations from more than ten agencies, including FINMA, FCA, and ASIC. Founded in 1974, IG is a part of IG Group Holdings Plc, a publicly listed brokerage (LSE: IGG). The company provides spread betting, CFD, and forex trading, offering access to over 17,000 markets. Its platforms and investing apps are notably user-friendly. Over the past 50 years, IG has consistently been an industry leader, excelling in all essential areas for traders.
66% of retail accounts lose money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Pros
  • Saxo offers traders genuine multi-asset access through a single account. Our tests showed seamless trading in FX, CFDs, stocks, ETFs, futures, options, and bonds across over 70,000 instruments, all without needing to switch platforms.
  • Execution was robust during live tests. Saxo's FX order statistics showed average fills at 9–10ms, with approximately 99.3–99.5% completing in under 50ms. This performance aligned with the rapid, precise fills observed on major FX and index CFDs.
  • Research tools excel with Autochartist integration. It offers filters by pattern type, asset class, and timeframes from 15 minutes to daily, with probability bands reaching over 70%, ensuring genuine utility.
  • IG excels with its diverse instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it provides US-listed futures, options, and an AI Index, ensuring varied diversification opportunities.
  • IG secured a crypto asset license from the FCA, enabling its return to the UK market. It now offers buying, selling, and storage services for over 55 digital tokens with fees starting at 1.49%, all under FCA regulation.
  • The web-based platform supports traders at every level, offering advanced charting tools and real-time market data vital for trading. Additionally, IG now includes TradingView integration.
  • The IG app provides an excellent mobile trading experience with an intuitive design, earning it the Runner Up position in our 'Best Trading App' award.
  • As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
  • IG provides a wide range of professional and engaging educational materials, such as webinars, articles, and analyses, tailored for traders.
  • The ProRealTime advanced charting platform remains free, provided traders meet modest monthly activity requirements.
Cons
  • Our analysis shows classic account pricing is costly for traders. The EUR/USD pair typically incurs all-in spreads of 0.8–0.9 pips. Consequently, traders with smaller volumes will often face higher costs compared to leading ECN-style brokers.
  • Withdrawals are dependable but sluggish. Saxo handled requests within 1-2 business days, but transfers typically reached our bank in 4-5 days due to correspondent banking and SHA fees.
  • Saxo offers speed but is not ideal for ultra-tight scalping. Around 55-60% of EUR/USD orders experience zero slippage. However, about 20% encounter negative slippage, especially noticeable during news events and in higher-latency conditions of 300-400ms.
  • Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.
  • In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
  • IG has ended its swap-free account, diminishing its attractiveness to Islamic traders.
  • Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.
  • IG imposes a monthly inactivity fee of $12 after two years, discouraging occasional traders.
Awards
  • Best Customer Service 2022 - Online Money Awards
  • Best Spread Betting Provider 2022 - Online Money Awards
  • Best Platform for the Active Trader 2022 - ADVFN International Financial Awards
  • Best Multi Platform Provider 2022 - ADVFN International Financial Awards
  • Best Finance App 2022 - ADVFN International Financial Awards
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC, FINMA, AMF, CONSOB FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM, JFSA
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) iOS & Android
Trading App
IG provides an excellent trading app. As a mobile trading pioneer, it has evolved over the years into a top-tier app. Expect swift responses, an intuitive interface, comprehensive charting, and dependable performance. Additionally, it includes guaranteed stops, a crucial risk management feature absent in many apps we've evaluated.
iOS App Rating
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4.6
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4.6
Android App Rating
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4.6
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4
Margin Trading
Yes Yes
Margin Rate
2.5%
MetaTrader 4
No Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes Yes
Autochartist
No Yes
eSignal
No No
Trading Central
No Yes
STP Account
No No
ECN Account
Yes No
DMA Account
No Yes
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No Yes
Robo Advisor
No Yes
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes Yes
Auto Trading
Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No Yes
Custodial Account
No No
Guaranteed Stop Loss
No Yes
Inactivity Fee
$12
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • NZD
  • JPY
  • ZAR
  • TRY
  • SEK
  • NOK
  • DKK
  • CHF
  • HKD
  • SGD
  • PLN
  • CZK
  • AED
  • HUF
  • MXN
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • ZAR
  • SEK
  • DKK
  • CHF
  • HKD
  • SGD
Commodities
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
  • Gold
  • Copper
  • Oil
  • Palladium
  • Silver
  • Sugar
  • Coffee
  • Wheat
  • Natural Gas
  • Soybeans
  • Orange Juice
  • Nickel
  • Steel
  • Iron
  • Precious Metals
  • Aluminium
  • Lithium
  • Cannabis
  • Lean Hogs
  • Cattle
CFD
Trade over 8,900 CFDs, including forex, stocks, indices, commodities, options, and bonds. Utilise advanced tools and signals to enhance your trading experience. IG provides over 17,000 CFDs, giving traders more opportunities than most brokers. Investors can trade long or short on key markets such as equities, forex, commodities, and cryptocurrencies. Additionally, customised price alerts and the IG Academy enrich the trading experience.
Leverage
1:30 1:30 (Retail), 1:222 (Pro)
FTSE Spread
1.2 pts (Variable) 1.0
GBPUSD Spread<
0.7 (var) 0.9
Oil Spread
0.03 2.8
Stocks Spread
0.10% (subject to min commission) 0.02
Forex
Access top-tier liquidity across an extensive selection of 189 currency pairs and spot metals, as well as 130 forwards, with spreads starting as low as 0.4 pips. IG provides an extensive selection of over 80 currency pairs through its own web platform, mobile app, or MetaTrader 4. For advanced charting and forex analysis, the ProRealTime software is available. Testing shows forex spreads are competitive, beginning at 0.1 pips on major pairs such as EUR/USD.
Assets
40+ 80+
GBPUSD Spread
0.7 (varies by region) 0.9
EURUSD Spread
0.2 (varies by region) 0.8
EURGBP Spread
0.6 (varies by region) 0.9
Currency Indices
  • USD
Cryptocurrency
Engage in trading cryptocurrencies against leading fiat currencies, or adopt a longer-term strategy through ETNs. IG provides more than 55 crypto CFDs and digital assets for trade and storage. It uniquely features a crypto index tracking the top 10 digital currencies by market cap, allowing broad speculation on the crypto market’s value. In the UK, its crypto services strengthened post-acquisition of an FCA digital asset licence, enabling regulated trading and investment in leading cryptocurrencies.
Spread
Variable Variable
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • XTZ
  • SOL
  • ADA
  • DOT
  • BTC
  • ETH
  • SOL
  • XRP
  • BCH
  • ADA
  • TIA
  • LINK
  • EOS
  • HBAR
  • ICP
  • LTC
  • NEAR
  • NEO
  • ONDO
  • PEPE
  • DOT
  • POL
  • SHIB
  • XLM
  • SUI
  • TRX
  • TON
  • UNI
  • DOGE
  • AAVE
  • APT
  • ARB
  • AVAX
  • CRYPTO10
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Saxo IG
Review
Review
66% of retail accounts lose money. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
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