Saxo Bank vs IG Index

Saxo or IG Index – which is better for UK traders 2024? Compare Saxo and IG Index in this detailed breakdown of their platforms, features and fees.

Saxo vs IG Index Comparison Table 2024
Saxo IG Index
rating empty
rating full
4
rating empty
rating full
4.4
Saxo is ranked #84 among CFD brokers. IG Index is ranked #23 among CFD brokers.
Review
Review
Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC. Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
66% of retail accounts lose money. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Pros
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
  • IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for trading
  • The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust
  • IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
Cons
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders
  • Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
  • IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
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
£500 $0
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) iOS & Android
Trading App

IG offers a superb all-round trading app. One of the pioneers of mobile trading, the application has been developed and refined over many years, meaning it is now among the best trading apps. Quick response, user-friendly layout, access to full charting and a stable and reliable application. It also offers guaranteed stops – an important risk management tool not available on many apps we’ve tested.
iOS App Rating
rating empty
rating empty
rating full
4.6
Android App Rating
rating empty
rating empty
rating full
4
Margin Trading
No Yes
Margin Rate
2.5%
MetaTrader 4
No Yes
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
Yes No
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 No
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
  • JPY
  • SEK
  • DKK
  • CHF
  • 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
CFD
Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals. IG offers a huge selection of 17,000+ CFDs, providing more trading opportunities than most CFD brokers. Traders can go long or short on popular markets like stocks, currencies, commodities and cryptos, while custom price alerts and the IG Academy continue to enhance 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
Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips. IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the 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
Saxo IG Index
Review
Review
66% of retail accounts lose money. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
More Comparisons
Saxo
vs

 IG Index
vs