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IG vs Saxo Markets 2023

StockBrokers.com

Written by StockBrokers.com

February 23, 2023

Is IG better than Saxo Markets? After scoring the best share dealing accounts across 46 different variables, our analysis finds that IG is better than Saxo Markets. IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

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Overall RatingIGSaxo Markets
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 3/5 Stars
Offering of Investments 4.5/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Research 4/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Review IG Review Saxo Markets Review
Winner check_circle
InvestmentsIGSaxo Markets
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 FeesIGSaxo Markets
Minimum Deposit £0.0 £500.0
Share Trading: 0-9 Deals/ Month £3 to £8 0.10% (£8 min)
Share Trading: 10-19 Deals/ Month £3 0.10% (£8 min)
Share Trading: 20+ Deals/ Month £3 0.10% (£8 min)
5 trades per year (£30k portfolio) £30-£40 £142
12 trades per year (£30k portfolio) £96 £198
36 trades per year (£30k portfolio) £108 £390
120 trades per year (£30k portfolio) £360 £1062
3 fund trades per year (£30k portfolio) £24 £126
Annual Custody Fee: £0 - £250,000 £96 (can reduce by trading) 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £250K-£500K £96 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £500,000 - £1m £96 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £1m and over £96 0.12% (min. €120 or £ equivalent)
Bonds - Corporate - Fee N/A 0.20% (min. EUR20)
Bonds - Government (Gilts) - Fee N/A 0.20% (min. EUR20)
ETFs - Fee £8 0.10% (£8 min)
Investment Trusts - Fee £8 0.10% (£8 min)
Telephone Dealing Fee £40-£50 £50
Platforms & ToolsIGSaxo Markets
Web Platform Yes Yes
iPhone App Yes Yes
Android App Yes Yes
Stock Alerts Yes Yes
Charting - Indicators / Studies 33 62
Charting - Drawing Tools 19 20
Charting - Notes Yes Yes
Charting - Display Corporate Events Yes No
Charting - Stock Overlays Yes Yes
Charting - Index Overlays Yes Yes
ResearchIGSaxo Markets
Research - Shares Yes Yes
Research - CFDs Yes Yes
Research - Funds Yes Yes
Fund Research - Research Reports No No
Research - ETFs Yes Yes
Research - Bonds No Yes
Portfolio Allocation Breakdown No Yes
EducationIGSaxo Markets
Has Education - Share Trading Yes Yes
Has Education - Funds Yes No
Has Education - Retirement Yes No
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Overall SummaryIGSaxo Markets
Overall Rating 5/5 Stars 4.5/5 Stars
Commissions & Fees 4.5/5 Stars 3/5 Stars
Offering of Investments 4.5/5 Stars 5/5 Stars
Mobile Trading 4.5/5 Stars 5/5 Stars
Platforms & Tools 4.5/5 Stars 5/5 Stars
Research 4/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 4.5/5 Stars
Education 5/5 Stars 4/5 Stars
Review IG Review Saxo Markets Review
Winner check_circle
  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxDEGIRO
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFreetrade
  • check_box_outline_blankcheck_boxHalifax
  • check_box_outline_blankcheck_boxHargreaves Lansdown
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
  • check_box_outline_blankcheck_boxSaxo Markets
  • check_box_outline_blankcheck_boxTrading 212

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Comparing online share dealing platforms side by side is no small task. For our 2022 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare IG and Saxo Markets.

IG vs Saxo Markets Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare IG vs Saxo Markets.

Is IG a good broker?

IG stands out as a top U.K. broker, thanks largely to its excellent online trading platform. Strong functionality comes with industry-standard commission rates and fees, a huge variety of trading tools, and user-friendly mobile apps.

Is Saxo Markets a good broker?

Saxo Markets offers a well-functioning platform with an array of investment opportunities featuring over 30,000 international products to trade across 40 global exchanges. The one downside is pricing, which is high.

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 Markets 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 £30-£40 per year, while Saxo Markets would cost £142 per year.

12 trades per year - IG would cost £96 per year, while Saxo Markets would cost £198 per year.

36 trades per year - IG would cost £108 per year, while Saxo Markets would cost £390 per year.

120 trades per year - IG would cost £360 per year, while Saxo Markets would cost £1062 per year.

3 fund trades per year - IG would cost 0 per year, while Saxo Markets would cost 500 per year.

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

IG requires a minimum deposit of £0, while Saxo Markets requires a minimum deposit of £500. From our testing we found for accounts between £0 - £250,000 IG charges annual custody fees of £96 (can reduce by trading), while Saxo Markets charges annual custody fees of 0.12% (min. €120 or £ equivalent).

Which broker offers a wider range of investment options?

IG offers investors access to ISA, SIPP, Share Trading, CFD Trading, ETFs, Investment Trusts and Spread Betting, while Saxo Markets offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. 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 IG and Saxo Markets 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 IG and Saxo Markets offer SIPP and ISA accounts.

Do IG and Saxo Markets 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 IG and Saxo Markets offer crypto investing.

Which broker offers better research?

Our testing concluded that Saxo Markets is better for research than IG. Saxo Markets offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both IG and Saxo Markets, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Saxo Markets offers a better share dealing platform and Saxo Markets offers a better stock app for mobile trading.

Do IG and Saxo Markets 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 IG offers traders access to Client Webinars, Client Webinars (Archived), Has Education - Share Trading, Has Education - Funds and Has Education - Retirement, while Saxo Markets offers access to Client Webinars, Client Webinars (Archived) and Has Education - Share Trading.

Overall winner: IG

Read Next: Best UK Trading Platforms 2022


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