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Saxo vs IG 2024

StockBrokers.com

Written by StockBrokers.com

February 01, 2024

Is Saxo better than IG? After scoring the best share dealing accounts across 46 different variables, our analysis finds that Saxo is better than IG. Saxo Markets’ trading platform is highly sophisticated and offers a huge range of international shares and funds. The biggest downside is the cost, as its charges are higher than its U.K. competitors. It's best suited for experienced investors rather than beginners.

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Compare

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Overall Rating Saxo IG
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 3.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 4.5/5 Stars 5/5 Stars
Ease of Use 3.5/5 Stars 3.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Review Saxo Review IG Review
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Investments Saxo IG
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info Yes Yes
CFD Trading info Yes Yes
Funds info Yes No
ETFs info Yes Yes
Bonds - Corporate info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes Yes
Spread Betting info No Yes
Crypto Trading info No No
Advisor Services info No No
Trading Fees Saxo IG
Minimum Deposit info £0 £0
Share Trading: 0-9 Deals/ Month info 0.08% (£3 min) £3-£8
Share Trading: 10-19 Deals/ Month info 0.08% (£3 min) £3
Share Trading: 20+ Deals/ Month info 0.08% (£3 min) £3
5 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £51 £136
12 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £72 £192
36 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £144 £108
120 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £396 £360
3 fund trades per year (£30k portfolio) info 0.4% + 0% commission: £120 N/A
Annual Custody Fee: £0 - £250,000 info 0.4% p.a. up to £200k; 0.2% p.a. after £200k £0 / £96
Annual Custody Fee: £250K-£500K info 0.2% p.a. £0
Annual Custody Fee: £500,000 - £1m info 0.2% p.a. £0
Annual Custody Fee: £1m and over info 0.1% p.a. £0
Bonds - Corporate - Fee info 0.20% N/A
Bonds - Government (Gilts) - Fee info 0.20% N/A
ETFs - Fee info 0.08% (£3 min) £3 - £8
Investment Trusts - Fee info £8 £3 - £8
Telephone Dealing Fee info £50 £40-£50
Broker Screenshots Saxo IG
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Saxo IG
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 64 33
Charting - Drawing Tools info 20 19
Charting - Notes info Yes Yes
Charting - Display Corporate Events info No Yes
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No
Research Saxo IG
Research - Shares info Yes Yes
Research - CFDs info Yes Yes
Research - Funds info No No
Fund Research - Research Reports info No Yes
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Portfolio Allocation Breakdown info Yes No
Education Saxo IG
Education (Share Trading) info No Yes
Education (Funds) info No No
Education (Retirement) info No Yes
Client Webinars info Yes Yes
Client Webinars (Archived) info Yes Yes
Overall Summary Saxo IG
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 3.5/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 4.5/5 Stars 5/5 Stars
Ease of Use 3.5/5 Stars 3.5/5 Stars
Education 5/5 Stars 4.5/5 Stars
Review Saxo Review IG Review
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Comparing online share dealing platforms side by side is no small task. For our 2024 review of U.K. brokers, more than 900 data points were collected over a 10-week period and used to score each broker. Let’s compare Saxo and IG.

Saxo vs IG Comparison

For our 2024 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Saxo vs IG.

Is Saxo a good broker?

Saxo Markets’ trading platform is highly sophisticated and offers a huge range of international shares and funds. The biggest downside is the cost, as its charges are higher than its U.K. competitors. It's best suited for experienced investors rather than beginners.

Is IG a good broker?

IG is an investment platform aimed at experienced investors looking to make frequent trades on the stock market, with thousands of shares, trusts and ETFs to trade. It offers a comprehensive and easy-to-use trading platform that is used by both private and professional investors.

Which broker is less expensive?

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, IG offers better pricing than Saxo for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year, while IG would cost £136 per year.

12 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year, while IG would cost £192 per year.

36 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year, while IG would cost £108 per year.

120 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year, while IG would cost £360 per year.

3 fund trades per year - Saxo would cost £0 per year, while IG would cost £0 per year.

query_stats What type of trader are you?

New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.

How do Saxo and IG compare in terms of minimum deposits required?

Saxo requires a minimum deposit of £0, while IG requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 Saxo charges annual custody fees of 0.4% p.a. up to £200k; 0.2% p.a. after £200k, while IG charges annual custody fees of £0 / £96.

Which broker offers a wider range of investment options?

Saxo offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while IG offers investors access to ISA, SIPP, Share Trading, CFD Trading, ETFs, Investment Trusts and Spread Betting. Neither have Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do Saxo and IG offer ISA or SIPP accounts?

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Both Saxo and IG offer SIPP and ISA accounts.

Do Saxo and IG offer cryptocurrency?

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Saxo nor IG offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of IG is better than the website of Saxo. IG offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

Which stock trading app is better?

To compare the trading platforms of both Saxo and IG, we tested each broker's stock trading app. All features compared, our analysis finds that Saxo offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Saxo and IG offer educational resources?

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Saxo offers traders access to Client Webinars and Client Webinars (Archived), while IG offers access to Client Webinars, Client Webinars (Archived), Education (Share Trading) and Education (Retirement). Neither have Education (Funds).

Overall winner: Saxo

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