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Compare Interactive Brokers vs Saxo Bank


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

Interactive Brokers vs Saxo Bank
overall rating
4.8 / 5.0
4.7 / 5.0
overall pros
  • Broad product portfolio
  • Low fees
  • Great and diverse research tools
  • Outstanding research
  • Great trading platform
  • Broad product portfolio
overall cons
  • Funding and withdrawal only through bank transfer
  • Complicated account opening process
  • Not user-friendly and complicated desktop trading platform
  • High forex, bond, options, and futures fees
  • Slow account opening
  • Missing live chat
fees
4 stars
  • Low trading fees
  • Transparent fee structure
  • Inactivity fee
3 stars
  • No withdrawal fee
  • Transparent fee structure
  • Lower fees for Platinum and VIP clients
  • Inactivity fee
  • High financing rate
  • High forex, bond, options and futures fees
account opening
3 stars
  • Fully digital
  • No minimum deposit for most accounts
  • Slow
  • Not user-friendly
  • Confusing messages throughout the process
3 stars
  • Fast
  • Fully digital
  • Available for residents of almost every country
  • Minimum deposit is higher than $500
  • Sales team pushy
  • Classic accounts available only in a single currency
deposit and withdrawal
2 stars
  • Several account base currencies
  • No charge for the first withdrawal each month
  • Credit/Debit card not available
  • Slow withdrawal - over 3 days
5 stars
  • Free withdrawal
  • No deposit fee
  • Several account base currencies
  • Credit/Debit card withdrawal not available
web trading platform
4 stars
  • User-friendly
  • Clear fee report
  • Two-step (safer) login
  • Limited customizability (for charts, workspace)
5 stars
  • User-friendly
  • Good search function
  • Modern design
  • No two-step (safer) login
  • Limited customizability (for charts, workspace)
mobile trading platform
4 stars
  • Two-step (safer) login
  • Good search function
  • Innovative functions (e.g. chatbot)
  • Not user-friendly
5 stars
  • User-friendly
  • Good search function
  • Good variety of order types
  • No two-step (safer) login
desktop trading platform
3 stars
  • Good variety of order types
  • Two-step (safer) login
  • Price alerts
  • Not user-friendly
  • Poor search function
5 stars
  • User-friendly
  • Good customizability (for charts, workspace)
  • Good search function
  • No two-step (safer) login
markets and products
5 stars
  • Stock
  • ETF
  • Forex
  • Fund
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
4 stars
  • Stock
  • ETF
  • Forex
  • Bond
  • Options
  • Futures
  • CFD
  • Crypto
  • SaxoSelect
research
4 stars
  • Quality news flow
  • Good set of analytical tools
  • Fundamental data available
  • Not user-friendly
5 stars
  • Trading ideas
  • User-friendly
  • Good set of analytical tools
  • Most fundamental data is not free of charge
customer service
4 stars
  • Live chat
  • Fast response time
  • Relevant answers
  • Email ticketing looks like from the 90's
3 stars
  • Available in local languages
  • Relevant telephone support
  • Fast email support
  • No live chat
  • No 24/7 availability
education
5 stars
  • Demo account
  • Educational videos
  • Good production quality
  • Courses only available to members
5 stars
  • Demo account
  • Trading platform tutorial
  • Educational videos
  • Good production quality
  • Listed on stock exchange
  • Negative balance protection
  • Regulated by top-tier financial authorities
  • Regulated by top tier financial authority
  • Banking background
  • Negative balance protection
  • Not listed on stock exchange
recommended for Traders who prefer low fees and a professional trading environment Investors and traders looking for a great trading platform and solid research