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Interactive Brokers vs Saxo Bank
A field-by-field comparison based on the current BrokaBoy catalogue. Check current pricing and the regulated entity on each broker's website before deciding.
Some figures on this page are taken from broker-published information and have not yet been checked against current terms. Confirm details on the broker's website.
Last updated: 4 October 2026 · Reviewed by BrokaBoy Research Team
| Field | Interactive Brokers | Saxo Bank |
|---|---|---|
| BrokaBoy score | 8.8/10 | 9.1/10 |
| Trustpilot rating | Trustpilot 3.1 (5,486 reviews) | Trustpilot 3.6 (8,756 reviews) |
| Listed minimum deposit | $0 | $0 |
| Advertised spread from | 0.1 pips | 0.4 pips |
| Advertised maximum leverage | 1:30 | Up to 1:30 (retail, EU/UK) |
| Regulators | FCA, ASIC, MAS, SEC, CBI, NFA | ASIC, FCA, MAS, DFSA, FINMA |
| Platforms | Trader Workstation, IBKR Mobile, IBKR Desktop | SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, TradingView |
| Instruments | Forex, Indices, Commodities, Stocks, Crypto | Forex, Stocks, ETFs, Bonds, Futures, Options, Mutual funds, Indices, Commodities |
| Account types | IBKR Lite, IBKR Pro | Classic, Platinum, VIP |
| Founded | 1978 | 1992 |
| Spread type | Variable | Variable market spreads, tier dependent |
| Commission | Varies by account type | Share and ETF commissions vary by exchange and tier; FX priced via spread |
| Overnight / swap | Overnight swap charges apply on positions held past rollover. | Overnight financing on leveraged positions; cash balances may earn or pay interest |
| Withdrawals | Most withdrawal methods are free; third-party fees may apply. | No standard withdrawal fee to a same-name bank account; currency conversion and custody fees can apply |
Key differences
- Saxo Bank has the higher BrokaBoy score (9.1/10 vs 8.8/10).
- Both brokers hold licences with FCA, ASIC, MAS.
- Only Interactive Brokers lists Trader Workstation, IBKR Mobile, IBKR Desktop among its platforms.
- Only Saxo Bank lists SaxoTraderGO, SaxoTraderPRO, SaxoInvestor, TradingView among its platforms.
- Only Interactive Brokers lists Crypto among its instruments.
- Only Saxo Bank lists ETFs, Bonds, Futures, Options, Mutual funds among its instruments.
Which should you choose?
- Choose Saxo Bank if you want the broader platform list shown in our catalogue (4 vs 3).
- Choose Interactive Brokers if access to Crypto is essential, and confirm it is available under your entity.
- Choose Saxo Bank if access to ETFs is essential, and confirm it is available under your entity.
- Choose the broker whose regulated entity covers your country and provides the protections you need; confirm this on the regulator's register.
Frequently asked questions
Which has the lower minimum deposit, Interactive Brokers or Saxo Bank?+
Both list the same minimum deposit of $0. Confirm current terms with each broker.
Are Interactive Brokers and Saxo Bank regulated by the same authorities?+
They share FCA, ASIC, MAS. Interactive Brokers lists FCA, ASIC, MAS, SEC, CBI, NFA; Saxo Bank lists ASIC, FCA, MAS, DFSA, FINMA in our catalogue.
Which has the higher BrokaBoy score?+
Saxo Bank scores 9.1/10 against 8.8/10. The score is calculated from advertised catalogue data and excludes Trustpilot ratings.
Do Interactive Brokers and Saxo Bank support the same platforms?+
No platform is listed by both brokers in our catalogue.
