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Our top alternative brokers to Saxo Bank
Interactive Brokers
4.9
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Swissquote
4.7
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Our top alternative brokers to Saxo Bank
Interactive Brokers
4.9
Visit broker
Swissquote
4.7
Visit broker
Saxo Bank Alternatives

The best alternatives to Saxo Bank are

  1. Swissquote - Swiss investment bank
  2. TradeStation Global - UK-based global stockbroker
  3. CapTrader - Global stockbroker
  4. Interactive Brokers - US discount broker

Let's see in a bit more detail how the Saxo Bank alternatives compare to Saxo Bank and each other:

Saxo Bank alternatives comparison
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
Overall score 4.8 4.7 4.7 4.3 4.9
Fees score 3.1 stars 2.2 stars 4.0 stars 3.5 stars 4.2 stars
Account opening score 2.5 stars 4.0 stars 2.8 stars 1.5 stars 3.4 stars
Deposit and withdrawal score 4.8 stars 4.6 stars 3.5 stars 3.0 stars 3.5 stars
Web platform score 5.0 stars 4.3 stars 4.5 stars 4.5 stars 4.5 stars
Markets and products score 5.0 stars 5.0 stars 5.0 stars 5.0 stars 5.0 stars
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Why are these brokers considered good alternatives to Saxo Bank? There are many areas based on which Saxo Bank can be compared with others. When we say a given online broker is a good alternative to Saxo Bank we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Saxo Bank alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • Swissquote is recommended for affluent investors who value safety and are ok with higher fees
  • TradeStation Global is recommended for traders and investors looking for low fees and a wide selection of products
  • CapTrader is recommended for investors and traders looking for low fees and sophisticated trading platforms
  • Interactive Brokers is recommended for traders looking for low fees and a professional trading environment

Important factors of finding Saxo Bank alternatives

So far BrokerChooser has reviewed 84 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Saxo Bank or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts Saxo Bank charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than Saxo Bank.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Saxo Bank, the account opening is slower than average, so if you consider this important some Saxo Bank alternatives can be a good choice.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Saxo Bank, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Saxo Bank alternative is a must.


Now let's dive into the details of how Saxo Bank and its alternatives perform in the most important areas!

Saxo Bank alternatives
Saxo Bank

Saxo Bank, a Danish investment bank founded in 1992, provides online trading and investment services. The company is regulated by several financial authorities globally, including the Danish Financial Services Agency (FSA) and the UK Financial Conduct Authority (FCA). 

Saxo Bank is a global service provider and its subsidiaries are present in the form of separate legal entities in different regions of the world. The services offered by the various entities may differ slightly, especially with respect to fees and product portfolios. In this review, we tested Saxo Bank UK.

Saxo Bank is considered safe because it has a long track record, a banking background and is regulated by top-tier financial authorities.

Recommended for investors and traders looking for a great trading platform and solid research

Pros Cons
Great trading platform High bond, options and futures fees
Outstanding research High minimum deposit
Broad product portfolio Lacks live chat and 24/7 availability

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Fees
3.1

Saxo Bank has average trading and non-trading fees overall. Trading fees vary greatly between different asset classes.
Pros Cons
Low forex fees Inactivity fee
Low fund fees High bond, options and futures fees
No withdrawal fee
Saxo Bank alternatives trading fees
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
US stock $10.0 $25.0 $1.5 $2.0 $1.0
UK stock $10.4 $32.5 $2.4 $10.4 $7.8

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k

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Account opening
2.5

Saxo's account opening is fully digital, user-friendly and available in most countries. On the other hand, the minimum deposit is high in certain countries and account verification can take longer.
Pros Cons
Fully digital Minimum deposit is high in certain countries
User-friendly Slow account verification
Available in almost every country
Saxo Bank alternatives minimum deposit and account open times
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
Minimum deposit $10,000 $0 $1,000 $2,400 $0
Time to open account >3 days 1 day 1 day >3 days 1-3 days

Learn more about Saxo Bank minimum deposit here.

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Deposit and withdrawal
4.8

Saxo provides multiple deposit and withdrawal options free of charge on a user-friendly interface.
Pros Cons
Credit/Debit card available Electronic wallets not available for deposit or withdrawal
Free withdrawal
No deposit fee
Saxo Bank and alternatives withdrawal options and fees
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
Bank transfer Yes Yes Yes Yes Yes
Credit/debit card No No No No No
Electronic wallets No No No No No
Withdrawal fee $0 $10 $0 $0 $0

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Web trading platform
5.0

Saxo Bank's web trading platform is one of the best among online brokers. While it's easy to use, the platform also provides features tailored for professionals, such as an advanced order panel.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Saxo Bank - Web trading platform
Saxo Bank and alternatives trading platform scores
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
Web platform score 5.0 stars 4.3 stars 4.5 stars 4.5 stars 4.5 stars
Mobile platform score 5.0 stars 4.7 stars 3.8 stars 3.8 stars 3.8 stars
Desktop platform score 5.0 stars 3.4 stars 3.0 stars 3.0 stars 3.0 stars

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

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Markets and products
5.0

Saxo Bank's product portfolio covers all asset classes and a lot of markets globally. Mutual funds and crypto are the only areas where the selection could be improved.
Saxo Bank and alternatives markets and products
Saxo Bank Swissquote TradeStation Global CapTrader Interactive Brokers
Stock Yes Yes Yes Yes Yes
ETF Yes Yes Yes Yes Yes
Forex Yes Yes Yes Yes Yes
Fund Yes Yes Yes Yes Yes
Bond Yes Yes Yes Yes Yes
Options Yes Yes Yes Yes Yes
Futures Yes Yes Yes Yes Yes
CFD Yes Yes Yes Yes Yes
Crypto Yes Yes Yes Yes Yes

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Verdict

Saxo Bank is a great broker, providing a complex and good service.

It offers a user-friendly and well-designed trading platform, backed by great research. The product portfolio covers all asset types and many international markets.

It has some drawbacks though. The fees for bonds, options and futures are high. There is also a high minimum deposit for certain countries. Lastly, there is no live chat or 24/7 customer support.

In general, Saxo Bank is one of the best online brokerage companies out there. By opening an account, you will get a broad, well-developed service constantly adapted to the needs of clients.

Saxo Bank
Summary Saxo Bank is a Danish investment bank. It is regulated by more than 10 financial authorities, including the top-tier UK FCA.
Fees score 3.1 stars
Recommended for Investors and traders looking for a great trading platform and solid research

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Saxo Bank alternatives
Swissquote

Swissquote is a Swiss investment bank established in 1996. It has two main trading arms: a Swiss unit for trading stocks, funds, options and futures, and a company in the UK for CFDs and forex.

Formally, Swissquote Bank Ltd is based in Switzerland and is regulated by the Swiss Financial Market Supervisory Authority (FINMA), the country's financial regulator.

The other entity, Swissquote Ltd, is Luxembourg and offers CFDs and forex trading. It is regulated by the Commission de Surveillance du Secteur Financier (CSSF), Luxembourg's regulator. The purpose of this entity is to grant access to the European markets after Brexit. The UK entity remained only for UK clients

Swissquote is considered safe because Swissquote Bank Ltd has a banking license, it is listed on the Swiss stock exchange, discloses detailed financials regularly and has a long track record.

Here, we focus mainly on the Swiss entity, sometimes referred to as "Swissquote (CH)". Throughout our content, we will refer to the Luxembourg-based entity as "Swissquote Europe (LUX)".

Recommended for affluent investors who value safety and are ok with higher fees

Pros Cons
Access to many markets and products High trading fees
No inactivity fee Confusing trading platform selection
Rock-solid background Some research tools are not free

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Fees
2.2

Swissquote charges no inactivity fee and you can trade an impressive selection of funds for favorable fees. On the other hand, trading fees are generally high, including stocks and ETFs fees, and there is a fee for withdrawing your money.
Pros Cons
Low fund fees High stock and ETF fees
No inactivity fee High bond fees
Saxo Bank vs. Swissquote: Trading fees
Swissquote Saxo Bank
Apple benchmark fee $50.3 $20.3
Vodafone benchmark fee $65.7 $21.5
EURUSD benchmark fee $10.2 $7.8

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
4.0

Swissquote offers a fully digital account opening process, although we encountered wait times. There is no minimum deposit for trading accounts, but a high minimum for forex and robo-advisory accounts.
Pros Cons
Fully digital Long wait times
No minimum deposit for trading account Forex and robo-advisor accounts have high minimum
Saxo Bank vs. Swissquote: Minimum deposit, time to open an account
Swissquote Saxo Bank
Minimum deposit $0 $10,000
Time to open account 1 day >3 days

If you are interested more in Swissquote minimum deposit, this overview will help you.

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Deposit and withdrawal
4.6

Depositing at Swissquote is quick with credit/debit card and can be done in several base currencies. On the negative side, you can only withdraw money via bank transfer, and the Swiss entity charges fees.
Pros Cons
Credit/Debit card available Swiss entity charges withdrawal and deposit fees
Several account base currencies
Saxo Bank vs. Swissquote: Withdrawal options
Swissquote Saxo Bank
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $10 $0

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Web trading platform
4.3

The Swissquote (CH) eTrading platform has a lot of functions, so many that sometimes it can get complicated. Customizability is good and there is a clear overview of trading fees, but it's easy to get lost on the platform.
Pros Cons
Clear fee report Easy to get lost among functions
Two-step (safer) login
Good search function
Web trading platform of Swissquote, a Saxo Bank alternative
Saxo Bank vs. Swissquote: Trading platform scores
Swissquote Saxo Bank
Web platform score 4.3 stars 5.0 stars
Mobile platform score 4.7 stars 5.0 stars
Desktop platform score 3.4 stars 5.0 stars

Learn more about Swissquote's web trading platform in the detailed Swissquote review.

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Markets and products
5.0

At Swissquote (CH) you can access many markets and trade with a lot of different product types. At Swissquote Bank (LUX) you can trade forex and CFDs too.
Saxo Bank vs. Swissquote: Markets and products
Swissquote Saxo Bank
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

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Verdict

Swissquote is an investment bank with a rock-solid background:

  • It is Swiss,
  • it is listed on an exchange
  • and it is a bank

It has two main entities, one in the UK and one in Switzerland. If you open an account at the London-based entity you can trade forex and CFDs, while the Swiss entity gives you access to assets ranging from stocks to options.

Swissquote offers a broad range of products across many markets. There are many stocks, mutual funds, and a lot of different other types of products, from bonds to cryptos.

However, nothing is free: Swissquote's trading fees are relatively high

All in all, Swissquote is a great stockbroker. As you can trade many products and no inactivity fee is charged, feel free to give it a try.

Swissquote
Summary Swissquote is a Swiss online broker with a banking license. It is listed on the Swiss stock exchange and regulated by several authorities globally, including the top-tier UK FCA.
Fees score 2.2 stars
Recommended for Affluent investors who value safety and are OK with higher fees

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Saxo Bank alternatives
TradeStation Global

TradeStation Global is a brand of TradeStation International Ltd, which is based in the UK and is regulated by the top-tier Financial Conduct Authority (FCA).

TradeStation Global is a combined product offered by Interactive Brokers (IB) and TradeStation offered for clients outside the EU/EEA. Here are its most important elements:

  • The account opening, deposit/withdrawal options, and available products are the same as at Interactive Brokers.
  • You can use both Interactive Brokers's and TradeStation's own desktop platform.
  • TradeStation Global charges its own fees, and offers its own customer support and educational tools.

Both Interactive Brokers and TradeStation are reputable brokers, regulated by top-tier financial authorities. While Interactive Brokers is listed on the NASDAQ, TradeStation itself is not: only TradeStation's parent company Monex is listed, on the Tokyo Stock Exchange.

Recommended for traders and investors looking for low fees and a wide selection of products

Pros Cons
Low stock and ETF fees Only bank transfer allowed for deposit and withdrawal
Wide range of products Complicated account opening
Fast customer service Limited education materials

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Fees
4.0

TradeStation Global has low trading fees, especially for stocks and ETFs. There's no inactivity fee and the first withdrawal each month is free. However, mutual fund fees are high.
Pros Cons
Low trading fees High fund fees
Low non-trading fees
Low stock and ETF fees / Free stock trading
Saxo Bank vs. TradeStation Global: Trading fees
TradeStation Global Saxo Bank
Apple benchmark fee $3.3 $20.3
Vodafone benchmark fee $5.5 $21.5
EURUSD benchmark fee $7.4 $7.8

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
2.8

TradeStation Global's account opening is fully digital and fast, but the process is complicated, and there's a high $1,000 minimum deposit required in order to use TSG's own desktop platform.
Pros Cons
Fast $1,000 minimum deposit required for desktop platform
Fully digital Not user-friendly
Saxo Bank vs. TradeStation Global: Minimum deposit, time to open an account
TradeStation Global Saxo Bank
Minimum deposit $1,000 $10,000
Time to open account 1 day >3 days

If you are interested more in TradeStation Global minimum deposit, this overview will help you.

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Deposit and withdrawal
3.5

TradeStation Global offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
No charge for the first withdrawal each month.
Saxo Bank vs. TradeStation Global: Withdrawal options
TradeStation Global Saxo Bank
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
4.5

You can use your TradeStation Global account to log in to the Interactive Brokers web trading platform. The TSG Client Portal is simple and easy to use even for beginners.
Pros Cons
User-friendly Limited customizability (for charts, workspace)
Clear fee report
Two-step (safer) login
Web trading platform of TradeStation Global, a Saxo Bank alternative
Saxo Bank vs. TradeStation Global: Trading platform scores
TradeStation Global Saxo Bank
Web platform score 4.5 stars 5.0 stars
Mobile platform score 3.8 stars 5.0 stars
Desktop platform score 3.0 stars 5.0 stars

Learn more about TradeStation Global's web trading platform in the detailed TradeStation Global review.

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Markets and products
5.0

With TradeStation Global, you can access the same range of product types and exchanges as at Interactive Brokers. This selection is one of the widest among online brokers.
Saxo Bank vs. TradeStation Global: Markets and products
TradeStation Global Saxo Bank
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

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Verdict

TradeStation Global has low stock/ETF fees, provides access to a lot of products and markets and has great customer support. The TradeStation Global desktop platform has great charting tools, plenty of indicators, highly customizable watchlists (Radar Screen) and a great programming tool (EasyLanguage).

On the other hand, the deposit and withdrawal process is not user-friendly and you can use only bank transfer. The account opening is complicated, and for full account verification to use the TSG desktop trading platform, a minimum deposit of $1,000 is required.

If you want access to IB's product range and an account without inactivity fees, feel free to try TradeStation Global.

TradeStation Global
Summary TradeStation Global is an introducing broker of Interactive Brokers. This practically means that assets and cash are held with Interactive Brokers, but services like fees and customer support are provided by TradeStation Global. TradeStation Global is regulated by the top-tier UK FCA.
Fees score 4.0 stars
Recommended for Traders and investors looking for low fees and a wide selection of products

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Saxo Bank alternatives
CapTrader

CapTrader was founded in Germany in 1997. It is an introducing broker to Interactive Brokers (IB), one of the largest brokers in the world.

  • The account opening and deposit/withdrawal options are very similar to Interactive Brokers
  • The trading platforms and available products are exactly the same as at Interactive Brokers
  • Fees, however, are charged by CapTrader, not by Interactive Brokers
  • CapTrader offers its own customer support and educational tools

CapTrader is considered safe because it has a long track record and is regulated by top-tier financial authorities. After Brexit, European users of CapTrader are being served through the Irish licence of Interactive Brokers.

Recommended for investors and traders looking for low fees and sophisticated trading platforms

Pros Cons
Low stock and ETF fees Complicated account opening
Wide range of products Complex desktop trading platform
Many great research tools High forex fees

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Fees
3.5

CapTrader has low stock and ETF fees, and margin rates are also low. On the other hand, forex, options and futures fees are high.
Pros Cons
Low stock and ETF fees / Free stock trading High forex fees
One free withdrawal per month
Low margin rates
Saxo Bank vs. CapTrader: Trading fees
CapTrader Saxo Bank
Apple benchmark fee $4.3 $20.3
Vodafone benchmark fee $21.5 $21.5
EURUSD benchmark fee $14.3 $7.8

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
1.5

CapTrader's account opening is fully digital, but the positives stop there, as the process is complicated, account verification takes long, and there's a steep €2,000 minimum deposit.
Pros Cons
Fully digital Slow
Not user-friendly
High minimum deposit of €2,000
Saxo Bank vs. CapTrader: Minimum deposit, time to open an account
CapTrader Saxo Bank
Minimum deposit $2,400 $10,000
Time to open account >3 days >3 days

If you are interested more in CapTrader minimum deposit, this overview will help you.

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Deposit and withdrawal
3.0

CapTrader offers one free withdrawal per month and has a decent selection of account base currencies; however, it doesn't accept credit/debit cards and electronic wallets.
Pros Cons
No deposit fee Credit/Debit card not available
One free withdrawal per month Electronic wallets not accepted
Saxo Bank vs. CapTrader: Withdrawal options
CapTrader Saxo Bank
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
4.5

CapTrader's WebTrader web platform is user-friendly, has a clear fee report, and is accessible via a safe two-step login process.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Web trading platform of CapTrader, a Saxo Bank alternative
Saxo Bank vs. CapTrader: Trading platform scores
CapTrader Saxo Bank
Web platform score 4.5 stars 5.0 stars
Mobile platform score 3.8 stars 5.0 stars
Desktop platform score 3.0 stars 5.0 stars

Learn more about CapTrader's web trading platform in the detailed CapTrader review.

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Markets and products
5.0

Through CapTrader, you can access an extremely wide range of markets, and virtually all product types imaginable.
Saxo Bank vs. CapTrader: Markets and products
CapTrader Saxo Bank
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

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Verdict

CapTrader is a global stockbroker for investors and traders, providing direct access to more than 1.2 million financial instruments in 33 countries. We recommend this broker mainly for advanced traders.

On the plus side, CapTrader has low stock and ETF fees, a vast range of available markets and products, and diverse research tools.

There are some drawbacks, though. It charges high forex fees, and the account opening process is complicated. The desktop platform is complex and might be hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, CapTrader could be a great fit for you.

 

CapTrader
Summary CapTrader is a global stock broker for investors and traders, providing direct access to more than 1.2 million financial instruments in 33 countries.
Fees score 3.5 stars
Recommended for Investors and traders looking for low fees and sophisticated trading platforms

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Saxo Bank alternatives
Interactive Brokers

Interactive Brokers was founded in 1978 and is one of the biggest US-based discount brokers. The broker is regulated by several financial authorities globally, including top-tier ones like the UK's Financial Conduct Authority (FCA) and the US Securities and Exchange Commission (SEC).

As it has licenses from multiple top-tier regulators, Interactive Brokers is considered safe. Having a long track record and publicly disclosed financials while being listed on a stock exchange are also great signs for its safety.

Recommended for traders looking for low fees and a professional trading environment

Pros Cons
Low trading fees Complicated account opening process
Wide range of products Complex desktop trading platform
Many great research tools High forex fees

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Fees
4.2

Interactive Brokers has low trading fees; for US clients, stock and ETF trading is free. On the negative side, there is a high inactivity fee for non-US clients.
Pros Cons
Low trading fees Inactivity fee
Free stock and ETF trading for US clients
Low margin rates
Saxo Bank vs. Interactive Brokers: Trading fees
Interactive Brokers Saxo Bank
Apple benchmark fee $2.3 $20.3
Vodafone benchmark fee $16.3 $21.5
EURUSD benchmark fee $7.4 $7.8

Includes spreads, commissions and financing rate for opening a position, holding for a week, and closing.
Position sizes: $2k for stocks and $20k for FX

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Account opening
3.4

IB's account opening process is fully digital and the required minimum deposit is low. On the negative side, the process is complicated, and account verification takes relatively long.
Pros Cons
Fully digital Not user-friendly
No minimum deposit for most account types Confusing messages throughout the process
Saxo Bank vs. Interactive Brokers: Minimum deposit, time to open an account
Interactive Brokers Saxo Bank
Minimum deposit $0 $10,000
Time to open account 1-3 days >3 days

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

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Deposit and withdrawal
3.5

Interactive Brokers offers many account base currency options and one free withdrawal per month. The main drawback is that you can only use bank transfer.
Pros Cons
No deposit fee Credit/Debit card not available
Several account base currencies
First withdrawal each month free
Saxo Bank vs. Interactive Brokers: Withdrawal options
Interactive Brokers Saxo Bank
Bank transfer Yes Yes
Credit/debit card No No
Electronic wallets No No
Withdrawal fee $0 $0

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Web trading platform
4.5

Interactive Brokers's web platform is simple and easy to use, even for beginners.
Pros Cons
User-friendly None
Clear fee report
Two-step (safer) login
Web trading platform of Interactive Brokers, a Saxo Bank alternative
Saxo Bank vs. Interactive Brokers: Trading platform scores
Interactive Brokers Saxo Bank
Web platform score 4.5 stars 5.0 stars
Mobile platform score 3.8 stars 5.0 stars
Desktop platform score 3.0 stars 5.0 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

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Markets and products
5.0

Through Interactive Brokers, you can access an extremely wide range of markets, and all product types are available.
Saxo Bank vs. Interactive Brokers: Markets and products
Interactive Brokers Saxo Bank
Stock Yes Yes
ETF Yes Yes
Forex Yes Yes
Fund Yes Yes
Bond Yes Yes
Options Yes Yes
Futures Yes Yes
CFD Yes Yes
Crypto Yes Yes

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Verdict

Interactive Brokers is one of the biggest US-based discount brokers, regulated by several top-tier regulators globally. We recommend this broker mainly for advanced traders.

On the plus side, IB has low fees, a vast range of available markets and products, and diverse research tools

There are some drawbacks, though: there is a high forex fees, and the account opening process is complicated. The desktop platform is complex and hard to get a handle on, especially for beginners.

If you have experience navigating complex platforms and enjoy transparent, low-cost trading, Interactive Brokers could be a great fit for you.

Interactive Brokers
Summary Interactive Brokers is a US discount broker. It is listed on a stock exchange and regulated by several authorities, including top-tier ones like the FCA and the SEC.
Fees score 4.2 stars
Recommended for Traders looking for low fees and a professional trading environment

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Saxo Bank alternatives
Bottom line

Based on our analysis, there are several good alternatives to Saxo Bank. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Saxo Bank alternatives
Broker Info Recommended for
Saxo Bank Danish investment bank Investors and traders looking for a great trading platform and solid research
Swissquote Swiss investment bank Affluent investors who value safety and are OK with higher fees
TradeStation Global UK-based global stockbroker Traders and investors looking for low fees and a wide selection of products
CapTrader Global stockbroker Investors and traders looking for low fees and sophisticated trading platforms
Interactive Brokers US discount broker Traders looking for low fees and a professional trading environment

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

Author of this article

Gergely Korpos

Author of this article

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Gergely Korpos

Co-founder, CPO

Gergely is the co-founder and CPO of Brokerchooser. His aim is to make personal investing crystal clear for everybody. Gergely has 10 years of experience in the financial markets. He concluded thousands of trades as a commodity trader and equity portfolio manager.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology

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