Interactive Brokers
Saxo Bank
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
Basic data of broker
Recommended for Traders looking for broad market access and a professional trading environment
Best online broker
Recommended for Investors and traders looking for a great trading platform and solid research
Best forex broker
USA
Denmark
Fees
Low trading and non-trading fees, free stock and ETF trading for US customers
Average trading and non-trading fees, low forex fees
Stock and ETF fees
Forex fees
Fund fees
Bond fees
Options fees
Futures fees
Crypto fees
CFD fees
Non-trading fees
Deposit and withdrawal
23
26
Deposit type
Withdrawal type
Account opening
$0
$2000
1-3 days
1 day
Proof of identity: national ID / passport / driver's license Proof of residency: bank statement / utility bill / driver's license / credit card statement
Proof of identity: personal ID / passport / driver's licence Proof of residence: ID card / insurance card / utility bill / bank statement
Trading platform
Markets and products
Disclaimer: 60.0% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Research, education
Great
Great
Customer service
Security
£85,000 or $500,000 (but only $250,000 for cash) in the UK depending on the assets you hold; $500,000 ($250,000) in the US; €20,000 (IB Ireland & Luxembourg) or €100,000 (IB Central Europe) in the EU, CAD 1 million in Canada; HKD 500,000 in Hong Kong
€100,000 for cash and €20,000 for securities for most European clients; £85,000 for UK clients; CHF 100,000 for Swiss clients; HKD 500,000 for securities at Hong Kong entity; no protection for clients from Singapore, Japan and Australia
1977
1992
USA, Ireland, UK, Hungary, India, Australia, Canada, Japan, Hong Kong, Singapore
Denmark, UK, France, Italy, Switzerland, Singapore, Japan, Hong Kong, Australia
For detailed information and hands-on experience, read our review of this broker.
For detailed information and hands-on experience, read our review of this broker.
*Data marked with an asterisk contain additional info, expand the relevant sections below to see details.
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.
Interactive Brokers's service is on par with Saxo Bank's and a comparison of their fees shows that Interactive Brokers's fees are lower than Saxo Bank's.
Account opening takes somewhat more effort at Interactive Brokers compared to Saxo Bank, deposit and withdrawal processes are more complicated at Interactive Brokers, while customer service quality is similar to Saxo Bank's.
Our experts rated the trading platform of Interactive Brokers as less user-friendly than the platform of Saxo Bank, found that clients have access to about the same number of markets and products with Interactive Brokers, while Saxo Bank provides somewhat better research and education.
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