Saxo Bank vs Interactive Brokers

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

Saxo vs Interactive Brokers Comparison Table 2026
Saxo Interactive Brokers
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4
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4.3
Saxo is ranked #25 among CFD brokers. Interactive Brokers is ranked #4 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. Interactive Brokers (IBKR) stands as a leading brokerage, offering access to 170+ markets in 40 nations alongside extensive investment services. With 40+ years in finance, this Nasdaq-listed entity complies with regulations from the SEC, FCA, CIRO, and SFC, ensuring global trustworthiness in trading.
66% of retail accounts lose 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.
  • IBKR is a highly respected brokerage, regulated by top-tier authorities, ensuring the integrity and security of your trading account.
  • Interactive Brokers has introduced ForecastTrader, a distinctive zero-commission offering. Users trade yes/no Forecast Contracts on political, economic, and climate events with fixed $1 payouts per contract. Benefit from 24/6 market access and earn up to 3.14% APY on held positions.
  • The TWS platform is tailored for intermediate and advanced traders, featuring over 100 order types and a dependable real-time market data feed with exceptional uptime.
  • DayTrading.com awarded Interactive Brokers 'Best US Broker' for 2025, highlighting its dedication to US traders, extremely low margin rates, and affordable global market access.
  • The new IBKR Desktop platform combines the top features of TWS with customised tools such as Option Lattice and MultiSort Screeners, providing an impressive trading experience for traders of all skill levels.
  • A wide range of third-party research subscriptions, both free and paid, are available for traders. Additionally, by subscribing to Toggle AI, traders can receive commission rebates from IBKR.
  • IBKR consistently offers unparalleled access to global equities, with thousands of shares available across over 100 market centres in 24 countries, including the recently added Saudi Stock Exchange.
  • While initially targeting seasoned traders, IBKR has recently widened its appeal by eliminating its $10,000 minimum deposit requirement.
  • IBKR offers an economical environment for traders, featuring low commissions, narrow spreads, and a clear fee structure.
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.
  • The learning curve for TWS is quite steep, making it tough for novice traders to navigate and grasp all its features. In contrast, Plus500's web platform is far more accessible for those new to trading.
  • IBKR offers a variety of research tools, but their inconsistent placement across trading platforms and the 'Account Management' webpage creates a confusing experience for users.
  • Support can be sluggish and frustrating. Tests reveal that you may face challenges reaching customer service quickly, which could result in delays in issue resolution.
  • You are limited to a single active session per account, meaning you cannot use both your desktop programme and mobile app at the same time. This restriction can occasionally lead to a frustrating experience for traders.
  • In 2025, IBKR was fined $11.8m by the US OFAC for operating in sanctioned areas. That same year, FINRA imposed a $125k fine for lapses in municipal bond disclosure.
Awards
  • Best US Broker 2025 - DayTrading.com
FCA Regulated
Yes Yes
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, mutual funds, ETFs, ETNs Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, Cryptocurrencies, CFDs
Demo Account
Yes Yes
Minimum Deposit
$0 $0
Payment Methods
Minimum Trade
Vary by asset $100
Regulator
DFSA, MAS, FCA, FINMA, AMF, CONSOB SEC, FINRA, CFTC, NFA, CIRO, FCA, CBI, ASIC, SFC, SEBI, JFSA, MAS
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) iOS & Android
Trading App
The IBKR Mobile app, for iOS and Android, transforms your phone into a robust portal to access your IBKR accounts. It allows users to monitor portfolios, execute trades, view real-time quotes and charts, and manage account activities seamlessly. With its intuitive design, the app is particularly user-friendly for novices, offering a simpler experience compared to the advanced TWS platform.
iOS App Rating
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4.6
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4.3
Android App Rating
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4.6
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4.5
Margin Trading
Yes 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 Yes
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 Yes
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
  • 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
  • INR
  • JPY
  • SEK
  • NOK
  • DKK
  • CHF
  • AED
  • HUF
Commodities
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
  • Gold
  • Zinc
  • Aluminium
  • Natural Gas
  • Soybeans
  • Lead
  • Precious Metals
  • Lean Hogs
CFD
Trade over 8,900 CFDs, including forex, stocks, indices, commodities, options, and bonds. Utilise advanced tools and signals to enhance your trading experience. The platform provides access to over 8,000 CFDs across stocks, indices, forex, and commodities. Suited for experienced traders, the TWS platform includes more than 100 order types and algorithms. It also delivers top-tier market data from trusted sources like Reuters and Dow Jones.
Leverage
1:30 1:30
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
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. IBKR offers a wide selection of more than 100 forex pairs, including major, minor, and exotic options, exceeding most competitors except CMC Markets. Trading takes place across various platforms with institutional-quality spreads from 0.1 pips. It supports over 100 advanced order types like brackets, scale, and 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
Engage in trading cryptocurrencies against leading fiat currencies, or adopt a longer-term strategy through ETNs. IBKR offers access to Bitcoin, Bitcoin Cash, Ethereum, and Litecoin at attractive commission rates without the need for a crypto wallet. Furthermore, traders can explore a variety of assets, including crypto indices like the NYSE Bitcoin Index, and futures contracts such as BAKKT Bitcoin Futures.
Spread
Variable 0.12%-0.18%
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • XTZ
  • SOL
  • ADA
  • DOT
  • BTC
  • LTC
  • ETH
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Saxo Interactive Brokers
Review
Review
66% of retail accounts lose money.
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