Saxo Bank
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65% of retail CFD accounts lose money.

Vs.

IC Markets
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73.59% of retail CFD accounts lose money.

Saxo Bank Vs. IC Markets - Compare and Choose the Right One

Updated May 13 2022

Visit

65% of retail CFD accounts lose money.

Visit

73.59% of retail CFD accounts lose money.

Overview

Saxo Bank is a Danish investment bank operating since 1992. It is one of the most regulated brokerages in the world with an exceptional selection of financial instruments.

IC Markets is an Australian broker with a global presence specialising in Forex trading. One of their greatest advantages is providing RAW spread accounts with interbank pricing.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Professional traders looking for Interbank rates
  • High volume traders that will save great amounts of costs with their low spreads and commissions
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
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Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

1

Other Licenses

2

Provided by
TheTradingBible.com

Learn More
🏛 Financial Regulators
  • ASIC (Australia)
  • HKMA (Hong Kong)
  • ADGM (United Arab Emirates)
  • FINMA (Switzerland)
  • MAS (Singapore)
  • FFAJ (Japan)
  • AFM (Netherlands)
  • ASIC (Australia)
  • CySec (Cyprus)
  • FSA (Seychelles)
The Good
  • Exceptional selection of financial instruments at one place
  • 2 highly-customizable proprietary trading platforms
  • API integration for 3rd party services like Excel or TradingView
  • Customisable leverage per asset before opening trades
  • Interbank rates and low commissions
  • Great platform variety
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Avaliable assets are limited (Also No ETFs)
  • No ability to purchase real stocks or cryptocurrencies, only CFDs
Status
Operational Operational
Recent News
N/A N/A
Key Data
⌛ Account Opening Time
4 Days 1 Day
📋 Documents Required
  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

  • Valid identity document (Passport, ID Card, etc)
  • Valid proof of residence document (Bank statement, utility bills)

All documents must be under the account holder's name.

📍 Year Founded
1992 2007
💳 Minimum Deposit
From 500 € to 2,000 € depending on residence $200
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Visa
  • Mastercard
  • Bank Transfer
  • Bitcoin
  • Sofort
  • Paypal
  • Neteller
  • Skrill
💵 Account Base Currencies
26 - AED, AUD, CAD, CHF, CNH, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, LTL, MXN, MYR, NOK, NZD, PLN, RON, RUB, SEK, SGD, TRY, USD, ZAR 10 - USD, GBP, EUR, AUD, CHF, JPY, HKD, CAD, SGD, NZD.
🗽 Available to U.S Citizens
No No
❌ Restricted Countries
US,BR,ES,IN,KE,MX,NG,PK,ZA US, CA, IL.
📊 STP Account
Yes Yes
📊 DMA Account
Yes No
📊 ECN Account
Yes Yes
Assets
📚 Available Assets
  • Real stocks, ETFs, bonds and options.
  • CFDs on currencies, commodities, stocks, indices, ETFs, cryptocurrencies and bonds.

CFDs on stocks, currencies, commodities, cryptocurrencies and indices

📙 Stocks
30,000+ 1,600 +
📘 Currency Pairs
182 61
📗 Commodities
19 (CFDs) 22
📕 Indices
29 (CFDs) 25
📔 ETFs
5,400+ N/A
💸 Cryptocurrencies
9 18
📒 Bonds
5,000+ 11
📓 Options
3,000+ N/A
📗 Futures
300+ 4
📝 Notes:
N/A All ICMarkets assets are CFDs.
Trading Experience
📈 Minimum Stock Trade Size
N/A Varies by Stock
📉 Minimum ETFs Trade Size
N/A N/A
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) Varies by Cryptocurrency (Eg: 0.01 BTC)
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $1,000 - 0.01 Lots
📈 Minimum Commodities Trade Size
N/A Varies by Commodity (Eg: 0.01 Troy ounces of Gold)
📉 Minimum Bonds Trade Size
N/A Varies by Bond
📈 Minimum Futures Trade Size
N/A Varies by Future
📉 Minimum Options Trade Size
N/A N/A
💪 Retail Leverage
Up to 1:30 Up to 1:30
💪 Professional Leverage
Up to 1:66 Up to 1:500
✍ Customisable Leverage
No Yes
🎲 Deleveraged Trading
Yes No
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No Yes
📺 MetaTrader 5
No Yes
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes (through API) No
💻 Proprietary Platform
Yes No
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes Yes
👫 Social Trading
No Yes
🔑 Guaranteed Stop-loss
No No
🔨 Trailing Stop-loss
Yes Yes
Fees
💰 Inactivity Fee

Up to $150 after 6 months of inactivity, £25 after one quarter in the UK

No
💰 Deposit Fees
No No
💰 Withdrawal Fees
No No
💰 Commissions

$0.02/share (min $10) for US Stocks, from 0.10% (min €10) for other equity markets, €4 per futures contract

No commissions in standard accounts but rather a 1 Pip spread markup on interbank prices received. For Raw spreads accounts, $7 per lot round turn.

Spreads
📈 EUR/USD
0.8 Pips average - 0.4 for VIPs Dynamic - From 0 to 0.6 Pips
📉 SP500
N/A Dynamic - From 20 to 45 Pips
📈 GOLD
N/A Dynamic - From 30 Pips
📉 TSLA (Stock CFD)
N/A Dynamic - Market Spread
📈 XLK (ETF - CFD)
N/A N/A
📉 BTC
N/A Dynamic - From $8.7 to $42
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes No
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes No
📡 Reuters Feed
No No

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