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SAXO vs IBKR: Fee Structure Breakdown
Abstract：This article is about the fee structure between SAXO and IBKR.
This article is about the fee structure between SAXO and IBKR.
Account & Inactivity Fees
SAXO charges custody fees (~0.12-0.15% p.a., depending on tier) and inactivity ($100/6 months and potential reporting fees. IBKR has no inactivity or custody fees. Its monthly withdrawal beyond the first free one may incur a small charge.
Trading Commissions
| Asset Class | Saxo | IBKR (Pro Tiered) |
| U.S. stocks/ETFs | ~0.03–0.06% (min $1–4) | $0.0035–$0.005/share (min $0.35–$1) |
| EU stocks/ETFs | ~0.03% (min €2–3) | 0.05% (min €1.25, max €29) |
| Forex spreads | From 0.4 pips | ~0.19 pips + commissions (~0.59 pips total) |
| Options | ~$3 per contract | $0.15–$0.65 per contract + $1 min |
Currency Conversion
- Saxo: Static 0.25% conversion fee
- IBKR: Manual: $2 flat or 0.002% automated (~$0.03–$3 depending on size)
Cash Interest & Idle Funds
- Saxo: ~0.637% USD, ~1.8% EUR, ~3.2% GBP
- IBKR: ~3.83% USD, ~1.62% EUR, ~3.67% GBP
Other Fees (Custody, Reporting, Data)
- Saxo: Custody (0.12–0.15% p.a.), reporting $50/email, instrument-add $200, plus market data/subscription fees
- IBKR: No custody or inactivity fees; market data is opt-in (e.g., < $10/month)
Final Thoughts
For active traders, IBKR is significantly cheaper across commissions, Forex, and extras. For passive or low-volume users: SAXO may offer smoother UI and premium support, per-user tier benefits, but you'll pay a higher overall cost. Currency traders and holders save a lot via IBKRs superior FX rates. Idle cash returns direct more value at IBKR thanks to higher interest rates.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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