Saxo Bank vs IronFX

Saxo Bank vs IronFX Comparison Table 2024
Saxo Bank IronFX
4
3.8
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.

IronFX is a multi-regulated forex and CFD broker founded in 2010. This award-winning firm offers 500+ markets to over 1.5 million clients across 180 countries. Traders can access various account types with competitive pricing on the MT4 platform, as well as 24/5 customer support in 30 languages.

66% of retail accounts lose money.
Customer Reviews
4
3.8
Bonus Offer
Traders can choose between: 100% unlimited Sharing Bonus – minimum $200 deposit. 40% Power Bonus up to $4,000 – minimum $500 deposit. 20% Iron Bonus up to $2,000 – minimum $100 deposit.
Comment by Reviewer
"Saxo is best for active traders and high-volume investors with an unrivalled selection of instruments alongside premium market research and fee rebates. The 190 currency pairs with tight spreads also make Saxo great for forex traders." "IronFX remains a good choice for experienced forex traders looking to trade with fixed or floating spreads. The range of 80+ currencies is more than many competitors and there are some excellent forex market research tools on offer."
Pros
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
  • Alongside MT4, the broker continues to offer several additional services, including copy trading, a VPS solution, and PAMM/MAM accounts
  • Fixed and floating spread accounts are available, making IronFX a good choice for both beginners and experienced traders
  • Traders get access to the popular Trading Central research tool, which offers automated AI analytics and 24/7 support
  • IronFX is an established firm and is regulated by several reputable bodies, including the CySEC, FCA and FSCA
  • The broker frequently offers trading competitions with cash prizes, as well as welcome bonuses for new clients
  • The IronFX Academy delivers some excellent educational tools for beginners through to advanced traders
Cons
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
  • It’s a shame that the broker doesn’t offer any additional software such as MT5 or TradingView to give experienced traders more choice
  • Commissions start from $13.50 per lot in the zero-spread accounts, nearly double the industry average
  • Compared to the leading brokers, IronFX offers a relatively small selection of share CFDs
Awards
  • Best Online Trading Platform (2019)
  • Best Broker of the Year (2019)
  • Most Trustworthy Forex Broker Global (2019)
  • Best Online Trading & Financial Services Company (2020)
  • Best Online Forex Trading Platform (2021)
  • International Online Currency Trading Platform of the Year (2021)
  • Most Outstanding Online Trading Partners Program (2022)
Instruments
Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs Forex, Indices, Shares, Futures, Commodities, Metals (all CFDs)
Demo Account
Yes Yes
Minimum Deposit
$100
Trading Platforms
  • TradingView
  • MT4
  • AutoChartist
  • TradingCentral
Payment Methods
Minimum Trade
Vary by asset 0.01 Lots
Regulator
DFSA, MAS, FCA, SFC CySEC, FCA, FSCA, BMA / Bermuda
Margin Trading
No Yes
STP Account
No Yes
ECN Account
Yes Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No Yes
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes Yes
Mobile Apps
SaxoTraderGo (iOS, Android, Windows) Android, iOS, WebTrader
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No Yes
Copy Trading Platform
The TradeCopier service allows aspiring investors to copy the strategies of top traders in real-time. The tool is a great way for beginners to learn from more experienced investors, whilst strategy providers can earn performance fees.
Social Trading
No Yes
Trade Signals
Yes Yes
VPS Hosting
No Yes
Tournaments
No Yes
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
3%
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
  • USD
  • EUR
  • GBP
  • AUD
  • JPY
  • PLN
  • CZK
Stock Exchanges
Commodities
CFD Trading
Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals. IronFX’s asset list of 300+ instruments covers forex, stocks, commodities and index CFDs. Maximum leverage from 1:30 to 1:1000 is available depending on account location. Day traders can access superb technical analysis features, including 30 pre-integrated indicators and 9 charting time frames.
Leverage
1:30 1:30 (FCA), 1:30 (CySEC), 1:500 (FSCA), 1:1000 (BM)
FTSE Spread
1.2 pts (Variable) 140
GBPUSD Spread
0.7 (var) 0.8
Oil Spread
0.03 3
Stocks Spread
0.10% (subject to min commission) Variable
Forex Trading
Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips. IronFX continues to offer a strong selection of 80 currency pairs. You can trade through the market-leading MT4 platform with a range of forex market research tools. That said, commission charges in the zero-spread accounts are high, starting from $13.50 per lot.
GBPUSD Spread
0.7 (varies by region) 0.8
EURUSD Spread
0.2 (varies by region) 0.7
EURGBP Spread
0.6 (varies by region) 0.9
Assets
40+ 80+
Cryptocurrency
Trade cryptos against major fiat currencies or take a longer-term view with ETNs. Crypto trading not offered
Spread
Variable
Coins
  • BTC
  • ETH
  • LTC
  • XRP
  • XTZ
  • SOL
  • ADA
  • DOT
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
66% of retail accounts lose money.
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