IC Markets vs Saxo Bank
Side-by-side broker intelligence across regulation, spreads, fees, platforms, and overall model score. Category winners use transparent heuristics and should be treated as editorial guidance, not investment advice.
4.7
4.5
13 pts
Head to head
Winners by category
Full comparison table
Rating
IC Markets
4.7
Saxo Bank
4.5
Model score
IC Markets
93
Saxo Bank
80
Regulation
IC Markets
ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), SCB (Bahamas)
Saxo Bank
Highly secure and trusted, operating as a licensed bank. It is authorized by seven Tier-1 regulators globally, including the FCA (UK), FSA (Denmark), FINMA (Switzerland), ASIC (Australia), MAS (Singapore), and JFSA (Japan).
Spreads
IC Markets
Raw spreads starting from 0.0 pips on EUR/USD. Low-latency Equinix NY4 & LD5 data center server execution designed for high-frequency trading and EAs.
Saxo Bank
Spreads vary significantly by account tier. Classic accounts have average industry spreads, while VIP accounts can see minimum spreads as low as 0.4 pips on major pairs like the EUR/USD. Saxo provides highly reliable, bank-grade execution liquidity.
Fees
IC Markets
Raw Spread Account: Spreads from 0.0 pips + $3.50 commission per lot per side ($7.00 round turn). Standard Account: Commission-free with spreads from 0.8 pips. cTrader Raw: Spreads from 0.0 pips + $3.00 commission per $100k.
Saxo Bank
Forex trading is generally commission-free, with costs baked into the spread (except for trades under 50,000 units, which incur a small ticket fee). Custody fees and inactivity fees may apply depending on the region and account tier, though they are reduced or waived for higher-tier accounts.
Platforms
IC Markets
MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, WebTrader
Saxo Bank
Saxo does not use MetaTrader. Instead, it offers its world-class proprietary suite: SaxoTraderGO (a highly intuitive web and mobile platform) and SaxoTraderPRO (an advanced, customizable desktop platform designed for active professionals).
Account types
IC Markets
Standard, Raw Spread (MT4/MT5), Raw Spread (cTrader/TradingView), Swap-Free (Islamic), Demo
Saxo Bank
Offers three main tiers that determine pricing and perks: Classic, Platinum, and VIP. All accounts operate on the same platforms, but higher tiers unlock dedicated support, exclusive events, and lower spreads.
Min deposit
IC Markets
$0 (Recommended starting deposit: $200)
Saxo Bank
$0 for the entry-level Classic account. (Note: Upgrading to Platinum requires a minimum of $200,000, and VIP requires $1,000,000, or equivalent high-volume trading points).
| Topic | IC Markets | Saxo Bank |
|---|---|---|
| Rating | 4.7 | 4.5 |
| Model score | 93 | 80 |
| Regulation | ASIC (Australia), CySEC (Cyprus), FSA (Seychelles), SCB (Bahamas) | Highly secure and trusted, operating as a licensed bank. It is authorized by seven Tier-1 regulators globally, including the FCA (UK), FSA (Denmark), FINMA (Switzerland), ASIC (Australia), MAS (Singapore), and JFSA (Japan). |
| Spreads | Raw spreads starting from 0.0 pips on EUR/USD. Low-latency Equinix NY4 & LD5 data center server execution designed for high-frequency trading and EAs. | Spreads vary significantly by account tier. Classic accounts have average industry spreads, while VIP accounts can see minimum spreads as low as 0.4 pips on major pairs like the EUR/USD. Saxo provides highly reliable, bank-grade execution liquidity. |
| Fees | Raw Spread Account: Spreads from 0.0 pips + $3.50 commission per lot per side ($7.00 round turn). Standard Account: Commission-free with spreads from 0.8 pips. cTrader Raw: Spreads from 0.0 pips + $3.00 commission per $100k. | Forex trading is generally commission-free, with costs baked into the spread (except for trades under 50,000 units, which incur a small ticket fee). Custody fees and inactivity fees may apply depending on the region and account tier, though they are reduced or waived for higher-tier accounts. |
| Platforms | MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, TradingView, WebTrader | Saxo does not use MetaTrader. Instead, it offers its world-class proprietary suite: SaxoTraderGO (a highly intuitive web and mobile platform) and SaxoTraderPRO (an advanced, customizable desktop platform designed for active professionals). |
| Account types | Standard, Raw Spread (MT4/MT5), Raw Spread (cTrader/TradingView), Swap-Free (Islamic), Demo | Offers three main tiers that determine pricing and perks: Classic, Platinum, and VIP. All accounts operate on the same platforms, but higher tiers unlock dedicated support, exclusive events, and lower spreads. |
| Min deposit | $0 (Recommended starting deposit: $200) | $0 for the entry-level Classic account. (Note: Upgrading to Platinum requires a minimum of $200,000, and VIP requires $1,000,000, or equivalent high-volume trading points). |