Choose IC Markets if you want…
Active scalpers, algorithmic traders, and high-volume traders who prioritise execution quality and tight raw spreads.
IC Markets
⭐ 4.7 / 5
VS
Saxo Bank
⭐ 4.7 / 5
IC Markets vs Saxo Bank — which broker is better in 2026?
We compared IC Markets and Saxo Bank across five core criteria: regulation, minimum deposit, spreads, platform choice, and overall user rating. Saxo Bank wins on more criteria (2 categories vs 1), making it the stronger default for most traders. Both brokers remain reputable, independently tier-1 regulated options.
Ad · leaderboard · 728×90
| IC Markets | Saxo Bank | Winner | |
|---|---|---|---|
| Rating | ⭐ 4.7 / 5 | ⭐ 4.7 / 5 | Tie |
| Regulators | ASIC, CySEC, FSA Seychelles, SCB Bahamas | FSA Denmark, FCA, ASIC, MAS, FINMA, DFSA, JFSA, SFC HK | Saxo Bank |
| Min. deposit | $200 | $0 (Classic) / $200K (Platinum) / $1M (VIP) | Saxo Bank |
| Spreads from | 0.0 pips (Raw Spread) | 0.6 pips (Classic) / 0.4 pips (Platinum) / 0.3 pips (VIP) | IC Markets |
| Max. leverage | Up to 1:30 (EU retail) / 1:500 (offshore) | Up to 1:30 (EU retail) / 1:100 (Pro) | — |
| Platforms | MT4, MT5, cTrader, TradingView | SaxoTraderGO, SaxoTraderPRO, TradingView, API | Tie |
| Founded | 2007 | 1992 | — |
| HQ | Sydney, Australia | Copenhagen, Denmark | — |
Pros & cons compared
IC Markets pros
- ✓ Industry-leading raw spreads (0.0 pips on EUR/USD typical)
- ✓ Three platforms: MT4, MT5, cTrader — one of few brokers offering cTrader
- ✓ Equinix NY4 server location — sub-millisecond execution for HFT/scalpers
- ✓ ASIC + CySEC dual-tier-1 regulation
- ✓ No restrictions on scalping, EAs, or hedging
Cons
- ✗ $200 minimum deposit — higher than budget brokers
- ✗ EU leverage capped at 1:30 retail (ESMA)
- ✗ Educational content thinner than XM / eToro
Saxo Bank pros
- ✓ Founded 1992 — Danish bank with full banking license
- ✓ Eight tier-1 regulators globally including FSA Denmark, FCA, ASIC
- ✓ 70,000+ instruments — broadest single-broker market access in retail
- ✓ Award-winning SaxoTraderPRO desktop platform
- ✓ Real stocks, ETFs, bonds, options, futures, mutual funds + FX/CFD
Cons
- ✗ Volume-tier pricing means small traders get worse terms
- ✗ Premium platforms have a learning curve vs. MT4
- ✗ Inactivity fee of $25/quarter after 6 months dormant
Ad · in-content · 728×90
Which one should you choose?
Choose Saxo Bank if you want…
Serious traders with $10K+ deposits wanting institutional-grade market access from a regulated Danish bank.
Frequently asked questions
Which is better — IC Markets or Saxo Bank?
Based on five comparison criteria (regulation, deposit, spreads, platforms, overall rating), Saxo Bank wins 2 categories. That makes it the stronger default choice — though both brokers remain reputable, independently tier-1 regulated options.
Is IC Markets more regulated than Saxo Bank?
IC Markets holds licenses from: ASIC, CySEC, FSA Seychelles, SCB Bahamas. Saxo Bank holds licenses from: FSA Denmark, FCA, ASIC, MAS, FINMA, DFSA, JFSA, SFC HK. Saxo Bank has more regulatory licenses, giving it broader geographic coverage.
What are the spreads at IC Markets vs Saxo Bank?
IC Markets spreads start from 0.0 pips (Raw Spread). Saxo Bank spreads start from 0.6 pips (Classic) / 0.4 pips (Platinum) / 0.3 pips (VIP). Actual spreads vary by account type and market conditions.
Which has a lower minimum deposit, IC Markets or Saxo Bank?
IC Markets: $200. Saxo Bank: $0 (Classic) / $200K (Platinum) / $1M (VIP). Saxo Bank has the lower entry barrier.