Saxo Markets vs CMC Invest 2023

Saxo Markets’ trading platform is highly sophisticated and offers a huge range of international shares and funds. The biggest downside is the cost, as its charges are higher than its U.K. competitors. It's best suited for experienced investors rather than beginners.

CMC Invest offers commission-free trading of U.K.-listed shares and U.S. equities via a mobile app only. Though a newer entrant to the U.K. share dealing market and currently somewhat limited, it’s powered by global contender CMC Markets, making it likely that its offerings will expand.

Alongside the cost per trade, most UK online brokers also charge a monthly, quarterly, or annual management fee, which varies based on the account type and balance. Based on our thorough review, CMC Invest offers better pricing than Saxo Markets for share dealing.

Assuming a £30,000 portfolio size, here are the total annual costs for share dealing with both brokers, given different monthly activity scenarios.

5 trades per year - Saxo Markets would cost 0.12% (minimum £120) per year, while CMC Invest would cost £0 per year.

12 trades per year - Saxo Markets would cost 0.12% (minimum £120) per year, while CMC Invest would cost £0 per year.

36 trades per year - Saxo Markets would cost 0.12% (minimum £120) per year, while CMC Invest would cost £0 per year.

120 trades per year - Saxo Markets would cost 0.12% (minimum £120) per year, while CMC Invest would cost £0 per year.

3 fund trades per year - Saxo Markets would cost £0.0 per year, while CMC Invest would cost £0.0 per year.

Saxo Markets requires a minimum deposit of £0.0, while CMC Invest requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 Saxo Markets charges annual custody fees of 0.4% p.a. up to £200k; 0.2% p.a. after £200k, while CMC Invest charges annual custody fees of 0.

Saxo Markets offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while CMC Invest offers investors access to ISA, Share Trading, ETFs and Investment Trusts. Neither have Spread Betting, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Saxo Markets offers traders access to SIPP and ISA accounts, while CMC Invest offers traders access to ISA accounts.

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Saxo Markets nor CMC Invest offer crypto investing.

Our testing concluded that the website of Saxo Markets is better than the website of CMC Invest. Saxo Markets offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

To compare the trading platforms of both Saxo Markets and CMC Invest, we tested each broker's stock trading app. All features compared, our analysis finds that Saxo Markets offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Saxo Markets offers traders access to Client Webinars and Client Webinars (Archived), while CMC Invest offers access to none. Neither have Education (Share Trading), Education (Funds) and Education (Retirement).