Apart from assessing a platform’s features and tools, it is also important to choose one that offers transparency to users. Data such as historical prices of securities and orders filled are useful in a decision-making process.
While such information appears to be quite limited on Interactive Brokers, IG Markets publishes data on order execution and stop loss slippage. Saxo seems to be the strongest in this area with disclosure on stop order fills statistics, historic swap points, and FX volume-based spreads.
It also recently announced its participation in the Global Code of FX Conduct, which is validated by over 16 regulators around the globe.
IG Markets: **
Interactive Brokers: ****
Saxo Capital Markets: *****
Choosing the best online trading platform can be down to your needs and priorities – some are willing to pay more for an extensive range of tools and features while others want a platform that offers the most competitive pricing. While Saxo may not be the strongest in this respect, it does boast a pretty comprehensive range of tools for those who want the best resources money can offer.