image IG VISIT IG image Saxo Capital Markets VISIT SAXO CAPITAL MARKETS image City Index VISIT CITY INDEX
About

IG is regulated by the Financial Conduct Authority and ASIC. IG have provided forex, spread betting, CFD, and stock trading services since 1974.

Saxo Capital Markets is regulated by the Financial Conduct Authority. Saxo Capital Markets have provided Forex, CFD, Binary options, Indices, CFDs, ETF & ETCs, Bonds and Stocks trading services since 2012.

City Index is regulated by the Financial Conduct Authority. City Index have provided Forex trading services since 1983.

Why choose them?
  • Yes Over 44 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority and ASIC
  • Yes Over 6 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority
  • Yes Over 35 years in business
  • Yes Segregates clients funds
  • Yes Regulated by Financial Conduct Authority, ASIC and MAS
Headquarters London, UK London, UK London, UK

TRADING SERVICES OFFERED

Spot Forex Yes Yes Yes
Forex (CFD) Yes Yes Yes
CFD Yes Yes Yes
Spread Betting Yes No Yes
Social Trading No No No
MARKETS & INSTRUMENTS
Forex (currency pairs) 90 180 84
Commodities Offered 34 70 26
Stocks Offered 8000 19000 4500
Bitcoin Yes No Yes
Majors Yes Yes Yes
Indices Yes Yes Yes
US Stocks Yes Yes Yes
Penny stocks No No Yes
Energies Yes Yes Yes
Metals Yes Yes Yes
Agriculturals Yes Yes Yes
FTSE Yes Yes Yes
Dow Jones Yes Yes Yes
Dax Yes Yes Yes
Nikkei Yes No Yes
ETFs Yes Yes Yes
IPO Yes No No
See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all instruments

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

PLATFORM & FEATURES

See the platforms and features offered by each broker

Screenshot image image image
MT4 Yes No Yes
MT5 No No No
MT4 Mac Yes Yes No
WebTrader Yes Yes Yes
Mirror Trader No No No
ZuluTrade No No No
Sirix No No No
cTrader No No No
PAMM No No Yes
Custom Platforms ProRealTime & L2 Dealer SaxoTrader AT Pro, Advantage Web

APPS

iOS image Yes Yes Yes
Android image Yes Yes Yes
Windows image No Yes Yes
Available Languages

English, French, German, Spanish, and Portuguese

Arabic, Chinese, Czech, Danish, Dutch, English, Finnish, French, German, Greek, Hungarian, Italian, Norwegian, Polish, Romanian, Russian, Slovenian, and Spanish

English, Spanish, German, Arabic, Polish, and Chinese

See platform & features

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See platform & features

69% of retail investor accounts lose money when trading CFDs with this provider.

See platform & features

72% of retail investor accounts lose money when trading CFDs with this provider

ACCOUNT INFORMATION

From micro accounts to ECN accounts, compare the accounts offered by IG and Saxo Capital Markets

Demo account Yes Yes Yes
Mini account Yes Yes Yes
Micro account No No Yes
Standard account Yes Yes Yes
ECN Account No Yes No
Islamic account No No No
Zero spread account No No No
VIP account Yes No Yes
Fixed spreads No No Yes
Variable spreads Yes Yes Yes
See account options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See account options

69% of retail investor accounts lose money when trading CFDs with this provider.

See account options

72% of retail investor accounts lose money when trading CFDs with this provider

TRADING CONDITIONS

Scalping Yes Yes No
Hedging Yes No Yes
Expert advisors (EAs) Yes Yes Yes
Virtual private server Yes Yes No
Direct market access Yes No No
STP broker Yes Yes Yes
Market maker No Yes Yes
Min trade £1 0.01 Lot 1 Lot
Max trade Variable None Varies
Min deposit $250 6,500 $25

RISK MANAGEMENT

Stop losses Yes Yes Yes
Limit orders Yes Yes Yes
One-click trading Yes Yes Yes
Trailing stops Yes Yes Yes
Price alerts Yes Yes Yes
Signal trading Yes No Yes

FUNDING METHODS

Credit card Yes Yes Yes
Bank transfer Yes Yes Yes
Standard account Yes Yes Yes
Paypal Yes No No
Neteller No No No
Skrill No No No
Payment processing time Varies Varies 2-3 business days
Withdrawal processing time Varies Varies 2-3 business days
See all funding options

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

See all funding options

69% of retail investor accounts lose money when trading CFDs with this provider.

See all funding options

72% of retail investor accounts lose money when trading CFDs with this provider

DETAILED INFO

Excluded countries US US US, CF, TD, CG, CG, CI, CU, GN, ER, GN, FR, GW, HT, IR, IQ, KR, LB, LR, LY, MM, NZ, NG, SL, SO, SD, SY, TM, UZ, VE, EH, YE, ZW
Contact email Send Email Send Email Send Email
Phone number 44 20 7633 5300 No 0845 355 0801
Live Chat Yes No Yes
Website http://www.ig.com/ http://uk.saxomarkets.com/ www.cityindex.co.uk
Spreads:
EUR/USD (Average: 0.7 pips) 0.6 pips + $1.00 0.2 pips + $2.00 0.5 pips
GBP/USD (Average: 1.1 pips) 0.9 pips + $1.00 0.2 pips + $2.00 0.5 pips
USD/JPY (Average: 1.1 pips) 0.7 pips + $1.00 0.2 pips + $2.00 1.6 pips
AUD/USD (Average: 0.8 pips) 0.6 pips + $1.00 0.4 pips + $2.00 0.5 pips
USD/CHF (Average: 2.3 pips) 1.5 pips + $1.00 0.8 pips + $2.00 1.6 pips
USD/CAD (Average: 2.9 pips) 1.7 pips + $1.00 0.8 pips + $2.00 0.5 pips
NZD/USD (Average: 3.6 pips) 2.0 pips + $1.00 0.8 pips + $2.00 2.3 pips
EUR/GBP (Average: 2.4 pips) 0.9 pips + $1.00 0.6 pips + $2.00 0.5 pips
View all spreads

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View all spreads

69% of retail investor accounts lose money when trading CFDs with this provider.

View all spreads

72% of retail investor accounts lose money when trading CFDs with this provider

FEES

Inactivity Fee Yes No Yes
Commission Yes (0.1%) Yes 0.0015
Deposit Fee Varies No Varies
Withdrawal Fee No No Varies
View All Fees

76% of retail investor accounts lose money when trading spread bets and CFDs with this provider

View All Fees

69% of retail investor accounts lose money when trading CFDs with this provider.

View All Fees

72% of retail investor accounts lose money when trading CFDs with this provider

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Last update

All information collected from http://www.ig.com/. Last updated on 01/07/2019.

All information collected from http://uk.saxomarkets.com/. Last updated on 01/07/2019.

All information collected from www.cityindex.co.uk. Last updated on 01/07/2019.

Company

Founded in 1974, IG are one of the largest and most respected brokers in the world. With over 125,000 traders, low margins and spreads, and a range of platforms, they're a popular choice for traders looking for a reputable broker that also offers a good range of markets and trading options.

IG are also one of the few brokers that offer experienced traders the chance to upgrade to an elective professional status. For more information about trading with IG, we have put together an indepth IG review with all the pros and cons about this broker.

Saxo Capital Markets provides both retail and institutional traders access to FX, CFDs, ETFs, Stocks, Futures and Options markets using their award winning SaxoTrader platform providing traders the speed and performance you need. They are a trusted broker regulated by the Financial Conduct Authority in the UK. Saxo Capital Markets has access to over 30, 000 assets including over 19, 000 stocks and 9000 CFDs. With over 20 years in electronic trading, Saxo Capital Markets is a broker you can trust.

For more information about trading with Saxo Capital Markets, we have put together an indepth Saxo Capital Markets review with some of the pros and cons about this broker.

Since establishing themselves as one of the first spread betting providers in the UK. , City Index have grown to a global company in over 50 countries completing over two million trades every month. City Index provide some of the most competitive spreads across thousands of markets including indices, shares, currencies, commodities and many more.

City Index have continued to innovate and were the first to provide a downloadable Android and iPhone app for spread betting and CFD trading and with over 30 years experience in the industry, you know you can trust Cityindex to handle your trades.

For more information about trading with City Index, we have put together an indepth City Index review with some of the pros and cons about this broker.

Popular comparisons

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IG or Saxo Capital Markets?

Low spreads or ECN execution?

If you’re a trader looking for a broker with low spreads on popular instruments like EUR/USD, IG is likely a better option. However, if you want a broker with ECN execution, Saxo Capital Markets may be more appropriate.

Which broker is more reliable?

You can determine a broker’s reliability & trustworthiness by looking at eight factors:

  • Who are they regulated by?
  • How long have they been around for?
  • Do they hold your money in a separate bank account?
  • Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?
  • Have they been fined or penalised in the last five years?
  • The popularity of their service/website
  • Are they publicly listed?
  • Where are they located?

Based on these eight factors, we consider IG to be the more reliable broker. We’ve broken down why below:

Who are they regulated by?

IG is regulated by Financial Conduct Authority and ASIC, while Saxo Capital Markets is regulated by Financial Conduct Authority.

As the Financial Conduct Authority are one of the most stringent regulators in the world, both IG and Saxo Capital Markets will have very strict guidelines to follow to ensure they protect their retail trader clients.

City Index are also regulated by the Financial Conduct Authority.

How long have they been around for?

If a broker has been around for a long period of time, they’re likely to be more reliable (in comparison, most scam brokers only exist for several years before they disappear).

This also suggests that a broker has good risk management processes that have prevented them being caught out by major financial events, as was the case with Alpari UK going bust when they were there was a policy reversal of capping the Swiss Franc against the Euro.

IG has been around for 45 years, while Saxo Capital Markets have been around for 7 years. Our third alternative broker, City Index, have been around for 36 years.

Do they hold your money in a separate bank account?

You wouldn’t want your broker paying their staff out of the same bank account account that you’re depositing your trading funds into, would you?

Fortunately, all regulated brokers must use segregated bank accounts to hold client money. This is one of the reasons why we only feature regulated brokers here on BrokerNotes.

All three brokers above will hold your money in a separate bank account.

Do they use reputable “tier-1” banks like Barclays, Goldman Sachs or HSBC?

Most tier-1 banks like Barclays and HSBC have been around for over 100 years and manage trillions of dollars of assets, proving that they have stood the test of time.

Both IG and Saxo Capital Markets use tier one banks, but we are not sure of which bank specifically.

Have they been fined or penalised in the last five years?

If a broker has been penalised by a regulator in the past five years, it may mean that they were caught doing something they shouldn’t be doing - which may be of concern to you as an end client.

We’re not aware of any penalties or fines imposed by regulators on IG or Saxo Capital Markets in the past five years.

How popular is their service/website?

While not always the case, the number of traders a broker has can be a good metric for understanding how reputable a brokers is.

IG is more popular with over 195,000 traders.

Are they publicly listed?

Companies that are publicly listed on a stock exchange tend to be considered more reputable as they will be required to disclose their financials, and aspects of their operations, to the public.

Both IG and Saxo Capital Markets are public limited companies.

Where are they located?

Most reputable brokers tend to be headquartered in a major capital city or a financial hub such as Cyprus.

Both IG and Saxo Capital Markets are based in London, UK .

Do they offer the features you need?

Assuming the brokers you’re choosing between are reputable, the next point to consider is whether they offer all of the features you require to trade.

This can be broken down into three categories:

  • Services & instruments
  • Platforms & account types
  • Trading features, risk management tools & funding methods

Services and Instruments

If you’re looking to trade currency pairs, both IG and Saxo Capital Markets offer forex trading. Saxo Capital Markets have a slightly larger variety of currency pairs with 180 pairs, compared to 90 offered by IG. Also, if you’re looking to trade cryptocurrencies, IG offers a handful of cryptocurrency CFDs to trade, including Bitcoin, Ethereum and Ripple.

Both IG and Saxo Capital Markets allow you to trade commodities like gold, silver and crude oil.

Platforms & Account Types

In addition to the platform, you’ll also want to ensure that the broker you choose offers the account type best suited to your needs. IG, for example, offer a mini account, standard account and VIP account.

Trading features, risk management tools & funding methods

If you have a certain trading style (e.g. scalping, hedging, or using EAs), you’ll want to double check that the broker you choose allows this, as not all of them do.

IG does allow scalping and hedging. While Saxo Capital Markets also allows scalping but doesn't allow hedging. You can trade with EAs (expert advisors) on both IG and Saxo Capital Markets.

In terms of risk management tools, neither IG or Saxo Capital Markets offers negative balance protection. Negative balance protection prevents you owing your broker more than you’ve deposited.

IG also offer stop losses, limit orders, and price alerts to help you automate aspects of your trading strategy.

IG accept Paypal while Saxo Capital Markets accept Payoneer.

Are they affordable for what you need?

Comparing the fee structures of different brokers can be a minefield at times. The important thing to consider is what the spreads & fees are on the specific instruments and account type that you will be using.

For trading EUR/USD, IG charges 0.60 points, while Saxo Capital Markets charges 0.10 points. Therefore, Saxo Capital Markets is the more affordable for this instrument. If you want to compare their spreads across more instruments, You can jump back up to our comparison of their currency pair & indice spreads above.

Another consideration is whether or not your broker charges inactivity, deposit/withdrawal fees, or commissions on trades. If you’re a frequent trader, inactivity fees are unlikely to be an issue.

The Verdict: IG or Saxo Capital Markets?

There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.

Objectively, IG is more reliable based on our criteria above. Saxo Capital Markets has a wider range of instruments to trade. Saxo Capital Markets offer lower spreads on popular forex instruments like EUR/USD and are used by more traders.

Both brokers offer demo accounts, allowing you to test their platforms to see which is suitable for you. You can test drive their demos using the links below:

Finally, if you’re really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable broker based on your precise requirements here.

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.