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Interactive Brokers vs Saxo API

The same fields from the Interactive Brokers record and the Saxo OpenAPI record, side by side. No winner is picked: which one suits you depends on what you are building.

Independent and unofficialNewest check

Risk warning: CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. You can lose money on these products, and each provider publishes its own loss figure under FCA rules. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Automated and API trading can amplify losses through bugs, connectivity failures and runaway orders.

What the two records show

Differences you can see in the records themselves. These are counts of what this site holds, not a verdict on either API.

Interactive Brokers and Saxo OpenAPI, field by field

FieldInteractive BrokersSaxo OpenAPI
KindBroker with its own APIBroker with its own API
API familyTWS API (TCP socket), REST (Client Portal Web API), WebSocketREST, WebSocket streaming
How you get accessNo key: run TWS or IB Gateway (TWS API) or the Client Portal Gateway and log in via browser (Web API).IBKR TWS API documentation, the IB Gatewaychecked Create a developer portal account for SIM (24 hour token or registered app); apply for live app credentials after testing.Saxo OpenAPI Learnchecked
Who can use itOpen, funded IBKR Pro account. The Web API supports only IBKR Pro accounts, and the TWS API lists a funded and opened IBKR Pro account among its requirements.IBKR Web API v1.0 documentation, requirements and limitationschecked Direct retail and professional clients may use it for personal use; a live account must be funded before creating a live app. The approval criteria for a retail live environment are unverified: the environments and security pages read on 19 Sep 2026 say live requires permission and testing before deployment but do not state what is required.Saxo Support: personal usechecked
DemoPartial: paper trading accounts are supported and the Web API is logged in to with a separate paper username; demo accounts cannot subscribe to data.IBKR Web API documentation, using a paper accountchecked Yes: SIM environment; 24 hour portal tokens work in SIM only.Saxo Environmentschecked
AuthenticationTWS API: local socket to a TWS or IB Gateway the user has logged in to by hand. Web API: Client Portal Gateway with a browser login on the same machine; the Web API also lists OAuth 1.0a, OAuth 2.0 and SSO, and IBKR's older use cases page gives OAuth as the route for institutional clients.IBKR TWS API documentation, the IB Gatewaychecked OAuth 2.0 authorization code (with or without PKCE); app key and secret for live. Refresh tokens rotate: each is invalidated on use and replaced. Certificate-based auth is for select partners only, not retail.Saxo OpenAPI Learnchecked
StreamingTWS API is event driven over the socket. The Web API websocket is at /v1/api/ws (wss://localhost:5000/v1/api/ws through the gateway): the number of market data subscriptions depends on the account's market data lines, 100 by default, a market data stream ends after 15 minutes unless it is requested again, and at most 5 historical data requests run at once.IBKR Web API v1.0 documentation, websockets introductionchecked WebSocket streaming (SIM and live hosts). The connection allowance and the instrument cap are unverified as of 20 Sep 2026: the streaming pages no longer publish either figure and say only that the number of WebSocket connections depends on the throttling profile assigned to the application.Saxo Environmentschecked
History depthBars of 30 seconds or less are not available beyond six months, and expired futures not beyond two years from expiry. IBKR's current TWS API documentation, read on 12 Oct 2026, counts three pacing violations for bars of 30 seconds or less: an identical historical data request within 15 seconds, six or more requests for the same contract, exchange and tick type within two seconds, and more than 60 requests in any ten minute period, with a BID_ASK request counted twice. The Web API endpoint /iserver/marketdata/history has its own published pacing of 10 requests a second or 50 a minute. Executions: since midnight by default, up to 7 days in TWS if its Trade Log setting is changed, and the current day only in IB Gateway.IBKR TWS API documentation, unavailable historical datachecked Chart samples max 1,200 per request; some FX data back to 2002. Trades report takes FromDate and ToDate with no stated limit.Saxo OpenAPI Support: How many samples can be returned at a time?checked
Limits
  • Global requests a second (Web API): 10. Per authenticated username, that is per Web API sessionibkrcampus.comchecked
  • Historical market data requests: Either 10 req/s or 50 req/minute, as the page words it. GET /iserver/marketdata/history onlyinteractivebrokers.comchecked
  • Market data snapshot requests a second: 10. GET /iserver/marketdata/snapshot onlyinteractivebrokers.comchecked
  • Order and trade list requests: 1 req/5 s. GET /iserver/orders and GET /iserver/trades, each counted on its owninteractivebrokers.comchecked
  • Session validation requests a minute: 1. GET /sso/validate onlyinteractivebrokers.comchecked
  • Session keep alive requests a second: 1. GET /tickle onlyinteractivebrokers.comchecked
  • Headline limit: 120/min per session, per service group. sessiondeveloper.saxochecked
Endpoints documented here2368
Error codes decoded here511143
Official documentationinteractivebrokers.comdeveloper.saxo

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Interactive Brokers

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