In this head to head comparison of Interactive Brokers vs Saxo, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let’s dive in.
Regulation
Interactive Brokers vs Saxo: Both online brokers earn a 99/99 Trust Score from ForexBrokers.com, the highest possible rating. Interactive Brokers was founded in 1977, is publicly traded, and is not a bank. Saxo was founded in 1992, is not publicly traded, and is a bank. For regulation, Interactive Brokers holds 8 Tier-1 licenses and 2 Tier-2 licenses, while Saxo holds 7 Tier-1 licenses and 1 Tier-2 license (Tier-1 is viewed as highly trusted by ForexBrokers.com).
ForexBrokers.com’s Trust Score ranges classify brokers as follows: 90–99 highly trusted, 80–89 trusted, 70–79 average risk, 60–69 high risk, and 59 or below not to be trusted. With scores of 99, both Interactive Brokers and Saxo sit at the top of the highly trusted range.
| Feature | Visit Site | |
|---|---|---|
| Year Founded info | 1977 | 1992 |
| Publicly Traded (Listed) info | Yes | No |
| Bank info | No | Yes |
| Tier-1 Licenses info | 8 | 7 |
| Tier-2 Licenses info | 2 | 1 |
| Tier-3 Licenses info | 0 | 0 |
| Tier-4 Licenses info | 0 | 0 |
Fees
Interactive Brokers and Saxo both earn 5 stars for commissions and fees. That said, they take different paths to low costs. Interactive Brokers (ranked #2 of 63 by ForexBrokers.com) uses a commission-based model with very tight spreads, while Saxo (ranked #8 of 63) is spread-only for forex, with a small ticket fee for very small monthly volumes. If you trade standard lots or larger, Interactive Brokers often works out cheaper; if you prefer a spread-only setup and hold a sizable account, Saxo’s higher-tier pricing can be attractive.
Interactive Brokers doesn’t routinely publish average forex spreads, but in Q3 2024 we observed an average EUR/USD spread of 0.19 pips and an all-in cost of about 0.59 pips after commission. Commissions start at 0.00002 (0.2 bps) of trade value per side with a $2 minimum per order ($4 round turn), and can fall to 0.08 bps for exceptionally active traders. For a $100,000 EUR/USD trade, the commission is roughly 0.40 pips on top of the spread. IBKR aggregates quotes from 17 major interbank dealers and charges $16–$40 per million round turn ($8–$20 per side). Note the $2-per-side minimum makes sub-100k trades proportionally pricier. High-volume discounts reduce the minimum to $1.50 per order above $1B in monthly forex volume, and to $1 above $5B; large orders can be handled via RFQ. IBKR Lite and IBKR Pro support forex but are not commission-free.
Saxo is commission-free for forex (it earns from the spread), with average EUR/USD spreads of 1.1 pips on Classic, 1.0 on Platinum, and 0.9 on VIP; minimum spreads were about 0.2 pips lower than those averages during the period observed. A $3-per-side ticket fee applies if you trade less than 50,000 units per month. The Classic account minimum is $0; Platinum requires $200,000 (AUD 300,000 in Australia), and VIP is for deposits of $1,000,000 or via loyalty upgrades (e.g., roughly $40M in forex volume for Platinum, $167M for VIP, each valid for 12 months). Saxo also waives custody fees for share trading if you opt into securities lending. Compared side by side, IBKR’s commission-plus-spread model can deliver lower all-in costs for standard lots, while Saxo’s spread-only tiers suit traders who prioritize simplicity and maintain larger balances.
| Feature | Visit Site | |
|---|---|---|
| Minimum Deposit info | $0 | $0 |
| Average spread (EUR/USD) – Standard account info | 0.226 info | 1.0 info |
| All-in Cost EUR/USD – Active info | 0.226 info | 0.8 info |
| Non-wire bank transfer info | Yes | No |
| PayPal (Deposit/Withdraw) info | No | No |
| Skrill (Deposit/Withdraw) info | No | No |
| Bank Wire (Deposit/Withdraw) info | Yes | Yes |
Range of investments
Interactive Brokers and Saxo both deliver a wide range of investments, including forex traded as CFDs or spot. Saxo lists about 71,000 tradeable symbols versus roughly 8,500 at Interactive Brokers. For currency traders, Saxo offers about 190 forex pairs compared to around 90 at Interactive Brokers. Both brokers give access to exchange-traded securities on U.S. and international markets, and neither supports copy trading.
Crypto access differs: Interactive Brokers lets you buy actual cryptocurrency, while Saxo focuses on cryptocurrency CFDs and does not offer delivered crypto. Both brokers earn 5 out of 5 stars for Range of Investments, with Interactive Brokers ranked #1 of 63 and Saxo ranked #3 by ForexBrokers.com. Choose Saxo if you want sheer instrument count and more forex pairs, or consider Interactive Brokers if you want real crypto alongside broad global markets.
| Feature | Visit Site | |
|---|---|---|
| Forex Trading (Spot or CFDs) info | Yes | Yes |
| Tradeable Symbols (Total) info | 8500 | 71000 |
| Forex Pairs (Total) info | 90 | 190 |
| U.S. Stocks (Shares) info | Yes | Yes |
| Global Stocks (Non-U.S. Shares) info | Yes | Yes |
| Copy Trading info | No | No |
| Cryptocurrency (Underlying) info | Yes | No |
| Cryptocurrency (CFDs) info | No | Yes |
| 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). |
Trading platforms and tools
Interactive Brokers vs Saxo: both brokers check the key platform boxes. Each offers simulated (paper) trading with a virtual demo account, a proprietary trading platform built in-house, a Windows desktop download, and a web-based platform. Both let you trade directly from charts. Neither supports copy trading, and neither offers MetaTrader 4 (MT4) or MetaTrader 5 (MT5). If you want to test strategies, place trades from charts, and switch between desktop and browser, either broker can fit the bill.
According to ForexBrokers.com, both Interactive Brokers and Saxo earn 5 stars for Trading Platforms and Tools. In the 2024 ranking out of 63 brokers, Interactive Brokers places #2 while Saxo ranks #3. If a slightly higher ranking matters to you, Interactive Brokers has the edge, though Saxo sits close behind for platform quality.
| Feature | Visit Site | |
|---|---|---|
| Virtual Trading (Demo) info | Yes | Yes |
| Proprietary Desktop Trading Platform info | Yes | Yes |
| Desktop Platform (Windows) info | Yes | Yes |
| Web Platform info | Yes | Yes |
| Copy Trading info | No | No |
| MetaTrader 4 (MT4) info | No | No |
| MetaTrader 5 (MT5) info | No | No |
| Charting – Indicators / Studies (Total) info | 155 | 61 |
| Charting – Trade From Chart info | Yes | Yes |
Forex trading apps
Interactive Brokers and Saxo both deliver capable mobile trading apps for iPhone and Android. Each supports stock and forex price alerts and syncs watchlists across mobile and web, so changes appear everywhere. Both apps let you draw trendlines on charts. A key difference: Saxo auto-saves your chart drawings, while Interactive Brokers does not, so you may need to redraw on Interactive Brokers if you close or switch charts.
For charting depth, Interactive Brokers offers 155 technical studies in the app, compared with 64 at Saxo. Despite that difference, both earn 5 out of 5 stars for Mobile Trading Apps, and ForexBrokers.com ranks Saxo #3 and Interactive Brokers #4 out of 63 brokers. If you want the widest range of indicators, Interactive Brokers stands out; if you value saved annotations and a slightly higher ranking, Saxo has the edge.
| Feature | Visit Site | |
|---|---|---|
| Android App info | Yes | Yes |
| Apple iOS App info | Yes | Yes |
| Mobile Price Alerts info | Yes | Yes |
| Mobile Watchlists – Syncing info | Yes | Yes |
| Mobile Charting – Indicators / Studies info | 155 | 64 |
| Mobile Charting – Draw Trendlines info | Yes | Yes |
| Mobile Charting – Trendlines Autosave info | No | Yes |
Market research
When comparing the market research offerings of Interactive Brokers and Saxo, both platforms provide a substantial array of resources. They each deliver daily market commentary and forex news from top-tier sources like Bloomberg and Reuters, ensuring users stay informed with reliable insights. However, Interactive Brokers extends its advantage with exclusive market research tools from TipRanks and Acuity Trading, which are not available through Saxo. Despite this, Saxo shines with its integration of Autochartist, a popular tool for technical analysis, whereas Interactive Brokers does not offer this feature.
Both brokers come equipped with sentiment-based trading tools and economic calendars to track global news events. While Interactive Brokers garners an impressive five-star research rating and holds the third position among 63 brokers for research, Saxo achieves not only a five-star rating as well but is also ranked as the top provider in this category. This suggests that although Interactive Brokers provides diverse research tools, Saxo’s research is considered unparalleled by ForexBrokers.com, highlighting its superior overall research offering.