Saxo Bank vs Interactive Brokers: Which One is Better for You?


Saxo Bank vs Interactive Brokers, which one is better? Both brokers are often compared to each other to find which one comes out to be the better one. What many traders may not comprehend is that the best choice may differ for every one of them, and there's nothing wrong with it. To make it easier for you to decide which one is the best between Saxo Bank vs Interactive Brokers, here is the direct comparison:

Feature
Go to Saxo Bank

Go to Interactive Brokers

Rating

General Rating 3.86/5
4.53/5
Trustpilot 2.2/5

rated by 1 users
2.5/5

rated by 964 users

General Information

Office(s) China, Greece, India, Italy, Netherlands, Spain, United Arab Emirates and United Kingdom Australia, Canada, Hong Kong, Hungary, United Kingdom and United States
Regulation ASIC 109605610
Banque de France, 483632501
CySEC, 163/12
FCA (UK), FC026688
FSA (Denmark), 1149
SFC (Hong Kong), 1395901
ASIC, 453554
Central Bank of Ireland, 23.12.2020
CFTC/NFA, 0258600
FCA (UK) 208159
Monetary Authority of Singapore, CMS100917
SEC (US), 8-47257
Established 1992 1977
Minimum Deposit $10000 $10000
Maximum Leverage 1:200 1:100
Spread Fixed Fixed
Commissions
Minimum Position 0.05 lot 0.25 lot
Payment Credit/debit cards and Wire transfer BPAY, Check and Wire transfer
Official Website Visit Saxo Bank Visit Interactive Brokers

Account Variations

Segregated Account
Islamic Account
PAMM Account
Managed Account
LAMM Account
MAM Account
Forex Demo Account

Trading Requirements

Hedging
US traders are welcome
Requires sending documents via postal mail
Overnight interest rates (swaps)
Trading by telephone

Trading Features

Trading contests
Automated trading
Interest rate on funds
Bonus offers
Free education
Personal manager
Affiliate program

Trading Platforms and Complements

Mobile trading
Browser-based platform
Trading via API
One-click trading
Trailing stop
Pending orders
One-Cancels-Other (OCO) orders

Instruments Traded

Forex
CFD
Indexes
Spread betting
Gold & silver
Cryptocurrencies
Stocks
Binary options
Oil
Metals
Energies
Futures
ETF
Soft commodities
Options
Agriculture
Bonds

Customer Support

Website Languages Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hebrew, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, Spanish Chinese, French, German, Italian, Japanese, Russian, Spanish
Email Support
Call Support
Chat Support

Reviews

General Review Read Saxo Bank Review Read Interactive Brokers Review
User Reviews

Thomas

Sep 17 2020

Customer service simply does not exist. Forget them. They have a great affiliate marketing to convince people to join but that is all.


Terajuana

Sep 16 2020

started the online application process but midway through i checked this site for their reviews and seen how bad they are. I stopped the process but my details were saved on their system. They have tried to call me 3 times every day for the last 2 weeks and no signs of them stopping. Why do they need to do this and it is a major red flag. avoid


Faughan

Sep 15 2020

They seriously need to learn how to communicate to new clients. Impossible to open a Corporate Ltd account, sent all required info and they don’t bother to even confirm receipt or if in the process, I’ve been calling them for 9 days since submitting and they pass you around to someone else who says they are not dealing with it. I would hate to think how stressful it would be if I had to call them to try resolve a trading issue.


Kuangfui321

Sep 14 2020

After 2 years of being there as a trader and investor, I’m very satisfied with the platform. It’s intuitive, genuine and fast process of withdrawal. Look forward more improvement from Saxo!


Farhang

Sep 13 2020

Saxo says no withdrawal fee, but actually withdrawal has a fee under the name of intermediary charges, funny enough that there is no other bank involved in the withdrawal transaction.


Mona Huang

Aug 14 2020

I have worst CS moment here. They are a bit unprofessional. Every time I called, they are always rude and rushing me. No patient, always asking me to figure out from their website.


De La Cruz

Aug 10 2020

While the platform is good. When you have a problem you can't get to speak to anyone. I have tried numerous times and you wait on hold for a long time more than 20 mins in any case and I have just abandoned the call without getting any resolution.


Regina

Aug 10 2020

The web site does not always connect you may have to log on a number of times to connect. The notifications such as messages do not come up when clicked on, this also usually takes several attempts.


Peterson

Aug 10 2020

The platform is absolutely solid and the folks at IB work continuously to improve it. The customer service, some years ago was mediocre, has improved markedly; and is very good at the present time. The cost to trade is very competitive.
I would recommend the platform.


Herzek

Aug 9 2020

Pros: Fast, Inexpensive
Cons: Terrible Scanner, Horrible Charts, Customer Services


Brianne Jeunh

Aug 8 2020

My application for an interactive brokers account took weeks to review. After those weeks, they sent me a message indicating that they were unhappy with my proof of address and wanted another one. I provided another one several weeks ago, but it's still not reviewed.


Martin James

Aug 7 2020

Support staffs sometimes provide wrong info. Mobile platform is many times laggy.


Kelly Faith

Aug 7 2020

I'm simply tired of fighting access to my account. Tired of trying to make recently added additional investment account available like my initial accounts. Tired of the ineffective phone support that can't do anything but talk with you about helping you fix your account.


Aloius33

Aug 6 2020

I’m really happy with interactive brokers it’s the most complete platform I have used people say it’s complicated for beginners but honestly it took me a couple minutes to set up all my charts and everything I need besides there’s no comisión being a platform that offers ibkr lite.


Kinsey

Aug 5 2020

Exceptionally difficult barriers to entry as a new customer. Customer service is not well trained in solving problems for new clients. Instructions for entry are not definitive and subject to different interpretation.


Rich GG

Jul 31 2020

Their low spreads and cheap commissions are features that I love the most. Good executions, they are geared towards professional traders. So not the best for people who are just starting out or trade little.


State traders

Jul 31 2020

Solid execution, numerous markets, low costs, good technology. It's not an easy platform to learn but as a platform for executing my trading strategies, this is a very good broker.


SJChi

Jul 30 2020

Their IB is either trading against you OR, allowing one of their large clients to. There seems to be either a delay in the data or a total disconnect with the time and sales data emanating from IB that is always to the disadvantage to my account. So you all better avoid this broker.


George

Jul 30 2020

Deposits are easy. But no withdrawals/wires. I followed their directions to a tee and they still refused/declined it.


John Christ

Jul 29 2020

They have so much hidden fees. Please avoid at all cost. Don't let their low commission trades full you, they will make it all up with hidden fees. My Roth IRA has been charged with crazy amount of fees. Trying them out was the worst thing I ever did.


Sierra Kehls

Jul 29 2020

They took my money, defrauded my account, failed to disclose all fees. Hopefully their company will be arrested for these frauds. I am experienced investor and have never been financially violated before.


Borsz

Jul 28 2020

Chaotic margin handling and extremely poor and bad customer service. Bay far the worst CS. Inexpert and bounder. Rarely receive specific answer to my questions.


ED Alabama

Jul 28 2020

If they had zero stars I would have given it to them. I've been trying to get my money back been over 10 days decided to call and they told me I needed a photo ID. I believe they required this when I set my account up. Had I not called I would never had known. Plain and simple they suck stay away.


Anthony Panayo

Jul 28 2020

Terrible to deal with. Website is next to useless. Can't access tax reports. Very unhelpful when ring them up. Once I was locked out and they wont reset my password.


em115

Jul 28 2020

I was not even notified that my account was closed. They sold my shares without my knowledge and closed my account. To me this is theft. If I was getting charged a fee you would at least think they would send you a statement. I received nothing from this company.


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Which one has the better spread?

Considering that spread is a trading cost, the lower the spread, the better it is for traders. However, spread information among brokers is not easy to get, as not every broker transparently publishes their spreads data.

However, traders can still choose their ideal brokers by the type of their spreads. The most two popular types of spread are fixed and variable. The pros and cons between the two spreads can vary for every trader. In this case, Saxo Bank provides their pricing with Fixed while Interactive Brokers offers Fixed.



Saxo Bank vs Interactive Brokers: Who hosts the best trading platform?

The trading platform is essential as you can't execute a trade without it. Additionally, trading platforms provide price charts and an assortment of analytical tools to help traders with their strategies.

To support their clients, Saxo Bank enables trading with SaxoTraderPRO (Limited with 20 days), SaxoWebTrader (Limited with 20 days), SaxoTraderGO (Limited with 20 days). The offer is supported with Mobile trading, Browser-based platform, One-click trading, Trailing stop, Pending orders. In comparison, Interactive Brokers provides trading with Web Trader (SerSart), FX-Trader, Trader Workstation with the support of Browser-based platform, One-click trading, Trailing stop, Pending orders.



Is Saxo Bank or Interactive Brokers better in providing the trading instruments?

It is widely known that forex brokers offer other trading instruments other than currency pairs. The offer gives interesting choices for traders to explore other markets that may be proven beneficial for them and to diversify their trading portfolios.

In this case, Saxo Bank supports trading with Forex, Gold & silver, CFD, Spread betting, Cryptocurrencies, while Interactive Brokers presents the ability of trading with Forex, Gold & silver, CFD, Stocks, Options, Futures, Bonds, ETF, Cryptocurrencies.

In conclusion, deciding the better broker eventually comes down to your consideration. If you are an active trader, it is better to choose a broker with a variable spread that is generally lower than the fixed one. For the trading platform, MetaTrader 4 is the standard choice for every trader. But if you want to have a different experience with a more advanced platform, choose the broker that provides alternative platforms. The same goes for trading instruments; if you want to try delving into different markets, seek for a broker with more options on trading instruments.

Looking for more references? Here are other comparisons related to Saxo Bank and Interactive Brokers:

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