Saxo Bank
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69% of retail CFD accounts lose money.

Vs.

Interactive Brokers
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Investing in financial products involves taking risk.

Saxo Bank Vs. Interactive Brokers - Compare Trustworthiness, Capabilities, Fees and Legitimacy

Updated Oct 20 2022

Visit

69% of retail CFD accounts lose money.

Visit

Investing in financial products involves taking risk.

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.

Interactive Brokers is a global brokerage founded in 1978 that holds 11+ high tier financial licenses and provides discounted electronic trading services in nearly all the globe with access to more than 100,000+ financial instruments.

Best For
  • Professional investors looking to trade a variety of markets
  • High net worth traders or investors
  • Seasoned investors looking for a one-stop shop to cover a variety of needs
  • Global investors who seek the most reliable discount service available
  • Traders from intermediate to advanced level
Licenses

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

7

Other Licenses

0

Provided by
TheTradingBible.com

Learn More

Financial
Licenses

Regulation

Regulated

Top-tier Licenses

10

Other Licenses

1

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)
  • SEC (United States)
  • FINRA (United States)
  • FCA (United Kingdom)
  • ASIC (Australia)
  • IIROC (Canada)
  • MNB (Hungary)
  • BSE (India)
  • CBI (Ireland)
  • FSA (Japan)
  • CSSF (Luxembourg) CSSF
  • MAS (Singapore)
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
  • High regulation
  • Exceptional number of investment instruments (Above 100,000+)
  • Competitive discount fees
The Bad
  • High minimum deposit for certain countries
  • Withdrawals via bank transfer only
  • High fees on options and futures
  • Complicated account opening process
  • Platforms are not beginner friendly
  • Narrow choice of deposit options (Mostly bank transfers)
Status
Operational Operational
Recent News

No fresh news at the moment. Check again soon!

No fresh news at the moment. Check again soon!

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 1978
💳 Minimum Deposit Range
From $500 up to $2,000 0
💰 Payment Methods
  • Visa
  • Mastercard
  • Bank Transfer
  • Bank Transfer
  • ACH (US only)
  • Check (US only)
  • Debit Card (US only)
  • BPAY (Australia only)
💵 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. 23 - USD, EUR, GBP, AUD, CAD, CHF, CNY, CZK, DK, HKD, HUF, INR, ILS, JPY, MXN, NZD, NOK, PLN, RUB, SGD, ZAR, KRW, SEK.
🗽 Available to U.S Citizens
No Yes
❌ Restricted Countries

US, BR, ES, IN, KE, MX, NG, PK, ZA.

AF, SY, SO, SD, LY, NG, BI.

📊 STP Account
Yes Yes
📊 DMA Account
Yes Yes
📊 ECN Account
Yes Yes
Banking License
No No
Debit Card
No Yes
Assets
📚 Assets Type
Hybrid Hybrid
Total Asset Offering
49,339 173,105
Exchange Access
0 78
📙 Real Stocks
30,000 100,000
📙 Stock CFDs
0 0
📘 Currency Pairs
0 105
📘 Currency Pair CFDs
182 0
📗 Commodities
0 0
📗 Commodities CFDs
19 0
📕 Indices
0 0
📕 Indices CFDs
29 0
📔 ETFs
5,400 13,000
📔 ETFs CFDs
5,400 0
💸 Cryptocurrencies
0 0
💸 Cryptocurrency CFDs
9 0
📒 Bonds
5,000 60,000
📒 Bonds CFDs
0 0
📓 Options
3,000 0
📓 Options CFDs
0 0
📗 Futures
300 0
📗 Futures CFDs
0 0
Trading Experience
📈 Minimum Stock Trade Size
Unavailable Variable - Fractions Allowed
📉 Minimum ETFs Trade Size
Unavailable Variable - Fractions Allowed
📈 Minimum Crypto Trade Size
Varies by Cryptocurrency (eg: 0.01 units of BTC) Unavailable
📉 Minimum FX Trade Size
$1,000 (0.01 lots) $25,000 (0.25 lots)
📈 Minimum Commodities Trade Size
Unavailable Varies per commodity (eg: 1 Ounce of Gold)
📉 Minimum Bonds Trade Size
Unavailable $1,000 for corporate/muni bonds, $1 million for treasury bonds
📈 Minimum Futures Trade Size
Unavailable 1 Contract
📉 Minimum Options Trade Size
Unavailable 1 Contract
💪 Retail Leverage
30 Unavailable
💪 Professional Leverage
66 Unavailable
✍ Customisable Leverage
No No
🎲 Deleveraged Trading
Yes Yes
🎓 Demo Account
Yes Yes
📱 IOS App
Yes Yes
📱 Android App
Yes Yes
📺 MetaTrader 4
No No
📺 MetaTrader 5
No No
📺 cTrader
No No
💻 Web trader
Yes Yes
💻 TradingView Platform
Yes No
💻 Proprietary Platform
Yes Yes
📊 Multi-chart Tools
Yes Yes
👬 Copy Trading
Yes No
👫 Social Trading
No No
🔑 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.

None
💰 Deposit Fees
None None
💰 Withdrawal Fees
None

One free withdrawal per month, subsequent are $10 per withdrawal or equivalent

💰 Commissions

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

Commissions depend on market and residency:

  • US residents are eligible for zero commission US stock trading. Else, for US stocks it is $0.005/share with a minimum $1 and maximum 1% of the trade value.
  • European stocks have €3 minimum and 0.05% trade value.
  • Forex commissions are volume based starting at 0.20 basis points of trade value or $2 minimum per trade, and going low as 0.08 basis points and $1.
  • Options start at $0.25 per contract and go as low as $0.15 per contract.
  • Futures start at $0.85 per contract and go as low as $0.25 per contract
Spreads
📈 EUR/USD
Dynamic - From 0.4 to 0.8 Pips Dynamic - From 0.1 Pips
📉 SP500
Unavailable Dynamic - From 01 Pip
📈 GOLD
Unavailable Unavailable
📉 TSLA (Stock CFD)
Unavailable Dynamic - From $0.50
📈 XLK (ETF - CFD)
Unavailable Unavailable
📉 BTC
Unavailable Unavailable
Research and Analysis
⭐ Watchlists
Yes Yes
🔭 Stock Screener
Yes Yes
🗓 Economic Calendar
Yes Yes
📜 Integrated Newsfeed
Yes Yes
📡 Reuters Feed
No Yes
📡 Educational Content
No No
📡 Live Chat Support
Yes Yes
📡 Video Tutorials
No No
📡 Account Management
Yes Yes
📡 Webinars
No No