SAXO vs IBKR: Fee Structure Breakdown

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

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.