Compare IC Markets vs Saxo Bank


Online brokers compared for fees, trading platforms, safety and more. See how IC Markets stacks up against Saxo Bank!

IC Markets vs Saxo Bank
overall rating
4.4
4.8
overall pros
  • Low forex fees
  • Easy and fast account opening
  • Free deposit and withdrawal
  • Great trading platform
  • Outstanding research
  • Broad product portfolio
overall cons
  • No investor protection
  • No negative account balance protection
  • Limited number of available CFDs
  • High bond, options and futures fees
  • High minimum deposit
  • Lacks live chat and 24/7 availability
fees
4.3
  • Low trading fees
  • Low non-trading fees
  • Low forex fees
  • High financing rate for CFDs
2.9
  • Low fund fees
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
  • Inactivity fee
  • High bond, options and futures fees
account opening
5.0
  • Fast
  • Fully digital
  • Low minimum deposit
2.6
  • Fully digital
  • User-friendly
  • Available in almost every country
  • Minimum deposit is high in certain countries
  • Relatively slow account verification
deposit and withdrawal
4.9
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
4.8
  • Credit/Debit card available
  • Free withdrawal
  • No deposit fee
  • Electronic wallets are not available for deposit or withdrawal
web trading platform
2.8
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Order confirmation
  • No two-step (safer) login
  • No price alerts
  • Poor design
5.0
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
mobile trading platform
3.8
  • User-friendly
  • Good search function
  • Price alerts
  • No two-step (safer) login
  • No Touch/Face ID login
  • No order confirmation
5.0
  • User-friendly
  • Two-step (safer) login
  • Good search function
desktop trading platform
3.3
  • Clear fee report
  • Good customizability (for charts, workspace)
  • Price alerts
  • No two-step (safer) login
  • Poor design
5.0
  • User-friendly
  • Clear fee report
  • Good customizability (for charts, workspace)
markets and products
1.7
  • Forex
  • CFD
  • Crypto
5.0
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • SaxoSelect
research
3.8
  • Trading ideas
  • Quality news flow
  • User-friendly
  • No fundamental data available
5.0
  • Good interactive chart
  • Trading ideas
  • Data on asset fundamentals
  • Most fundamental data is not free of charge
customer service
3.6
  • Phone support
  • Live chat
  • Fast response time
  • Slow and irrelevant live chat
4.0
  • Phone support
  • Relevant answers
  • No live chat
  • No 24/7 support
education
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
4.5
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • No educational articles
  • Majority of clients belong to a top-tier financial authority
  • In operation for a long time
  • No investor protection
  • No negative balance protection
  • Does not hold a banking license
  • Majority of clients belong to a top-tier financial authority
  • Banking background
  • Negative balance protection for EU (+some MENA) customers
  • Not listed on stock exchange
recommended for Forex traders who value easy account opening and free deposit/withdrawal options Investors and traders looking for a great trading platform and solid research
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