Written by StockBrokers.com
In this head to head comparison of IG vs Saxo, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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 - IG would cost £136 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year.
12 trades per year - IG would cost £96 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year.
36 trades per year - IG would cost £108 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year.
120 trades per year - IG would cost £360 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year.
3 fund trades per year - IG would cost £0 per year, while Saxo would cost £0 per year.
What type of trader are you?
New to the world of investing? See our picks for the Best UK Trading Platforms for Beginners. More experienced traders should read our guide to the Best UK Trading Platforms for Active Traders.
IG and Saxo are both popular online brokers in the UK, offering an array of investment choices to suit varied trading needs. Both brokerages provide opportunities for share trading, ETF trading, CFD trading, and investment trusts, appealing to a wide range of investors. However, when it comes to trading options such as cryptocurrencies, spread betting, and advisory services, neither broker supports these areas. IG stands out with a 4.5-star rating for investment choices, holding the 11th spot out of 18 brokers according to UK.StockBrokers.com. Meanwhile, Saxo offers a slightly broader selection, including funds and both corporate and government bonds (gilts), earning the top rating of 5 stars and ranking first in the same comparison.
Saxo's comprehensive investment options give it an edge for investors looking for diverse opportunities beyond the standard offerings. The inclusion of funds trading and bond options makes Saxo particularly appealing for those interested in more varied investments. Conversely, IG's portfolio is more streamlined but still robust enough to cater to those seeking to invest in the main financial markets without overwhelming choices. This detailed comparison highlights how Saxo and IG differ in their investment offerings and respective industry standings, assisting prospective clients in choosing a broker best suited to their investment strategy in the UK.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | Yes |
| ETFs | Yes | Yes |
| Funds | No | Yes |
| Bonds - Government (Gilts) | No | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | Yes | No |
| Crypto Trading | No | No |
| Advisor Services | No | No |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
When comparing IG and Saxo for their online trading tools, both platforms offer browser-based trading, real-time market data, and stock price alerts, making them user-friendly for on-the-go traders. IG allows users to display corporate events like earnings and dividends directly on charts, a feature not available on Saxo. Additionally, IG provides 19 drawing tools and 33 technical indicators for a comprehensive charting experience. However, when it comes to customization, Saxo edges ahead slightly with 20 drawing tools and a substantial 64 technical indicators, giving traders a wider range of options for technical analysis.
Both IG and Saxo support adding notes to charts, catering well to traders who rely heavily on personal annotations. While Saxo offers enhanced chart customization with options to add index and stock overlays, IG lacks these specific features. This makes Saxo more appealing to those who value overlay functionalities in their trading strategy. In summary, although both brokers offer strong fundamental tools for traders, your choice might hinge on the importance of specific charting features like event displays or overlay options.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 33 | 64 |
| Charting - Drawing Tools | 19 | 20 |
| Charting - Notes | Yes | Yes |
| Charting - Display Corporate Events | Yes | No |
| Charting - Stock Overlays | No | Yes |
| Charting - Index Overlays | No | Yes |
For UK investors seeking online brokers with retirement account options, both IG and Saxo provide appealing choices. Each offers Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them suitable for retirement planning. This dual offering allows investors to benefit from tax-efficient ISAs and take control of their retirement savings through SIPPs. Whether you choose IG or Saxo, both brokers cater to those looking to build a secure financial future through diverse investment accounts tailored for UK users.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
In the UK, both IG and Saxo provide top-quality iPhone and Android mobile apps, each achieving a perfect 5-star rating from UK.StockBrokers.com. Despite their equal star ratings, Saxo holds the number one position for mobile apps out of 18 brokers, while IG follows closely at number two. This comparison highlights that whether you choose IG or Saxo, you'll be equipped with a highly-rated mobile trading experience.
Dive deeper: Best Stock Trading Apps UK.
For beginner investors in the UK looking to enhance their knowledge, both IG and Saxo offer educational webinars, including the convenience of on-demand viewing. However, IG stands out by providing specific education in share trading and retirement topics, which Saxo does not cover. Neither platform offers guidance on investing in funds. Despite these differences, both IG and Saxo boast a perfect 5-star rating for beginner education from UK.StockBrokers.com. Yet, IG secures the top spot as the number one ranked broker for beginner education out of 18 options, while Saxo follows in third place.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Education (Share Trading) | Yes | No |
| Education (Funds) | No | No |
| Education (Retirement) | Yes | No |
| Education |
|
|
Dive deeper: Best UK Trading Platforms for Beginners.
For UK investors comparing the market research features of IG and Saxo, there are distinct differences to consider. Both IG and Saxo provide research reports for funds, alongside offering comprehensive insights into shares, ETFs, and CFDs. However, Saxo sets itself apart by offering additional research capabilities, such as the ability to view portfolio allocation by asset class, as well as in-depth research on funds and bonds—features that IG does not provide. While IG delivers a solid foundation for many market research needs, Saxo's broader research offerings may appeal to those seeking more detailed investment insights.
| Feature |
IG
|
Saxo
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | No | Yes |
| Research - Funds | No | Yes |
| Fund Research - Research Reports | Yes | Yes |
| Portfolio Allocation Breakdown | No | Yes |
Which broker is better overall, IG or Saxo? After collecting more than 900 data points over a 10-week period, we found IG to be a better trading platform overall.
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.
| Feature |
IG
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Saxo
|
|---|---|---|
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| Mobile App |
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Both IG and Saxo do not offer crypto trading options for their users, focusing instead on a variety of other financial instruments.
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0 of 5| Overall Rating | IG | Saxo | |
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| Review | IG Review | Saxo Review | |
| Winner | check_circle |
| Investments | IG | Saxo | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | Yes | |
| Funds | No | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | No | Yes | |
| Bonds - Government (Gilts) | No | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | Yes | No | |
| Crypto Trading | No | No | |
| Advisor Services | No | No |
| Trading Fees | IG | Saxo | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | £0-£10 | From £3 or 0.08% | |
| Share Trading: 10-19 Deals/ Month | £3 | From £3 or 0.08% | |
| Share Trading: 20+ Deals/ Month | £3 | From £3 or 0.08% | |
| 5 trades per year (£30k portfolio) | £136 | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | |
| 12 trades per year (£30k portfolio) | £96 | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | |
| 36 trades per year (£30k portfolio) | £108 | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | |
| 120 trades per year (£30k portfolio) | £360 | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | |
| 3 fund trades per year (£30k portfolio) | N/A | 0.4% + 0% commission: £120 | |
| Annual Custody Fee: £0 - £250,000 | £0 / £96 | Up to £800 | |
| Annual Custody Fee: £250K-£500K | £0 / £96 | £500 to £1,000 | |
| Annual Custody Fee: £500,000 - £1m | £0 / £96 | Up to £1,998 | |
| Annual Custody Fee: £1m and over | £0 / £96 | £1,000 | |
| Bonds - Corporate - Fee | N/A | €20 minimum | |
| Bonds - Government (Gilts) - Fee | N/A | €20 minimum | |
| ETFs - Fee | £0 - £8 | From $1 | |
| Investment Trusts - Fee | £0 - £8 | From $1 / £3 / €10 | |
| Telephone Dealing Fee | £50 | £50 |
| Broker Screenshots | IG | Saxo | |
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| Website Gallery (click to expand) |
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| Platforms & Tools | IG | Saxo | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 33 | 64 | |
| Charting - Drawing Tools | 19 | 20 | |
| Charting - Notes | Yes | Yes | |
| Charting - Display Corporate Events | Yes | No | |
| Charting - Stock Overlays | No | Yes | |
| Charting - Index Overlays | No | Yes |
| Research | IG | Saxo | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | Yes | |
| Research - Funds | No | Yes | |
| Fund Research - Research Reports | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | No | Yes | |
| Portfolio Allocation Breakdown | No | Yes |
| Education | IG | Saxo | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | No | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Overall Summary | IG | Saxo | |
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| Review | IG Review | Saxo Review | |
| Winner | check_circle |
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