Saxo Bank vs Interactive Brokers
Saxo or Interactive Brokers – which is better for UK traders 2024? Compare Saxo and Interactive Brokers in this detailed breakdown of their platforms, features and fees.
| Saxo | Interactive Brokers |
|---|---|
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| Saxo is ranked #84 among CFD brokers. | Interactive Brokers is ranked #8 among CFD brokers. |
| 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. | Interactive Brokers (IBKR) is a premier brokerage for experienced traders, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe. |
| 66% of retail accounts lose money. | |
| Pros | |
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| Cons | |
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| FCA Regulated | |
| Yes | Yes |
| Instruments | |
| Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs | Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies |
| Demo Account | |
| Yes | Yes |
| Minimum Deposit | |
| £500 | $0 |
| Payment Methods | |
| Minimum Trade | |
| Vary by asset | $100 |
| Regulator | |
| DFSA, MAS, FCA, SFC | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB |
| Mobile Apps | |
| SaxoTraderGo (iOS, Android, Windows) | iOS & Android |
| Trading App | |
The IBKR Mobile app, available on both iOS and Android devices, makes your phone a powerful gateway to your IBKR accounts, offering you the freedom to keep an eye on portfolios, initiate trades, and dive into real-time quotes and charts, all while managing your account activities on the fly. This app stands out for its intuitive design, making it especially welcoming for those just starting their trading journey, providing a smoother and more accessible experience than the more complex TWS platform. |
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| iOS App Rating | |
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| Android App Rating | |
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| Margin Trading | |
| No | Yes |
| Margin Rate | |
| 1.55 - 2.59% | |
| MetaTrader 4 | |
| No | No |
| MetaTrader 5 | |
| No | No |
| cTrader | |
| No | No |
| AlgoTrader | |
| No | Yes |
| OmniTrader | |
| No | Yes |
| TradingView | |
| Yes | No |
| Autochartist | |
| No | No |
| eSignal | |
| No | Yes |
| Trading Central | |
| No | Yes |
| STP Account | |
| No | Yes |
| ECN Account | |
| Yes | No |
| DMA Account | |
| No | Yes |
| MAM Account | |
| No | Yes |
| 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 | No |
| P2P Trading | |
| No | No |
| Spot Trading | |
| Yes | Yes |
| Auto Trading | |
| Capitalise.ai & TWS API | |
| Copy Trading | |
| No | No |
| Social Trading | |
| No | No |
| Trade Signals | |
| Yes | |
| VPS Hosting | |
| No | No |
| Tournaments | |
| No | No |
| Demo Competitions | |
| No | No |
| Ethical Investing | |
| No | Yes |
| Custodial Account | |
| No | No |
| Guaranteed Stop Loss | |
| No | No |
| Inactivity Fee | |
| $0 | |
| Islamic Account | |
| Yes | No |
| Account Currencies | |
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| Commodities | |
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| CFD | |
| Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals. | Over 8,000 CFDs are offered on a vast array of instruments, encompassing stocks, indices, forex, and commodities. Moreover, the TWS platform lends itself to seasoned traders, offering a comprehensive selection of over 100 order types and algorithms, alongside premium market data sourced from reputable sources such as Reuters and Dow Jones. |
| Leverage | |
| 1:30 | 1:50 |
| FTSE Spread | |
| 1.2 pts (Variable) | 0.005% (£1 Min) |
| GBPUSD Spread< | |
| 0.7 (var) | 0.08-0.20 bps x trade value |
| Oil Spread | |
| 0.03 | 0.25-0.85 |
| Stocks Spread | |
| 0.10% (subject to min commission) | 0.003 |
| Forex | |
| Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips. | IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders. |
| Assets | |
| 40+ | 100+ |
| GBPUSD Spread | |
| 0.7 (varies by region) | 0.08-0.20 bps x trade value |
| EURUSD Spread | |
| 0.2 (varies by region) | 0.08-0.20 bps x trade value |
| EURGBP Spread | |
| 0.6 (varies by region) | 0.08-0.20 bps x trade value |
| Cryptocurrency | |
| Trade cryptos against major fiat currencies or take a longer-term view with ETNs. | IBKR lets you purchase and hold Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at competitive commission rates and without needing a crypto wallet. Additionally, there is a range of other diverse assets to explore, such as crypto indices like the NYSE Bitcoin Index, as well as futures contracts like the BAKKT Bitcoin Futures. |
| Spread | |
| Variable | 0.12%-0.18% |
| Coins | |
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| Crypto Lending | |
| No | No |
| Crypto Mining | |
| No | No |
| Crypto Staking | |
| No | No |
| Auto Market Maker | |
| No | No |
| Saxo | Interactive Brokers |
| 66% of retail accounts lose money. | |
| More Comparisons | |
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Saxo vs |
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