Written by StockBrokers.com
In this head to head comparison of eToro vs Saxo, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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, eToro offers better pricing than Saxo 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 - eToro would cost £0 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year.
12 trades per year - eToro would cost £0 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year.
36 trades per year - eToro would cost £0 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year.
120 trades per year - eToro would cost £0 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year.
3 fund trades per year - eToro would cost $50 per year, while Saxo would cost £0 per year.
What type of trader are you?
New to the world of investing? See our picks for the Best UK Trading Platforms for Beginners. More experienced traders should read our guide to the Best UK Trading Platforms for Active Traders.
When considering online brokers, eToro and Saxo Bank each offer unique features catering to different investment needs. Both platforms provide share trading, trading of ETFs, and CFD trading, making them attractive options for diversified portfolios. However, eToro stands out with its inclusion of crypto trading, a feature not available with Saxo. On the other hand, Saxo Bank provides access to a wider variety of investment options such as funds trading, corporate bonds, government bonds (gilts), and investment trusts, areas where eToro does not offer services.
While both brokers do not support spread betting or advisor services, their ratings and rankings reflect their varying strengths. eToro receives a commendable 4.5 stars from UK.StockBrokers.com for its investment choices, securing the 9th spot out of 18 brokers. Conversely, Saxo Bank holds a perfect 5-star rating, earning the top rank among investment brokers. This comparison highlights eToro's appeal to crypto enthusiasts and those seeking a straightforward trading experience, whereas Saxo Bank appeals to those desiring a broader range of traditional investment options.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | Yes |
| ETFs | Yes | Yes |
| Funds | No | Yes |
| Bonds - Government (Gilts) | No | Yes |
| Investment Trusts | No | Yes |
| Spread Betting | No | No |
| Crypto Trading | Yes | No |
| Advisor Services | No | No |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
Both eToro and Saxo provide comprehensive trading tools suitable for various trading strategies. Neither platform offers the ability to display corporate events like earnings, splits, or dividends directly on their charts. However, eToro shines with a wider array of drawing tools, offering 56 compared to Saxo’s 20, and boasts a more extensive selection of technical indicators with 106, in contrast to Saxo's 64.
Both platforms allow users to add notes to charts and support index and stock overlays, enhancing the analytical capabilities for traders. They also offer browser-based trading platforms, making it convenient for users to trade from anywhere. Furthermore, both eToro and Saxo enable the creation of alerts for stock price updates and provide real-time market data, ensuring traders stay informed with up-to-date information.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 106 | 64 |
| Charting - Drawing Tools | 56 | 20 |
| Charting - Notes | Yes | Yes |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | Yes | Yes |
| Charting - Index Overlays | Yes | Yes |
When comparing eToro and Saxo's offerings for retirement accounts, both platforms provide Individual Savings Accounts (ISAs), allowing users to benefit from tax-free savings for their investments. However, if you're interested in additional retirement planning options, it's important to note that eToro does not offer Self-Invested Personal Pension (SIPP) accounts. In contrast, Saxo provides SIPP accounts, giving investors a broader range of tax-efficient retirement savings options to suit their financial goals.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing the mobile app offerings from online brokers eToro and Saxo, both companies provide apps for iPhone and Android devices. According to UK.StockBrokers.com, both eToro and Saxo received an impressive 5-star rating for their mobile applications. However, in terms of overall ranking among 18 brokers for mobile app performance, Saxo edges ahead, securing the top spot at #1, while eToro is positioned at #5. This indicates that while both platforms offer high-quality mobile experiences, Saxo is acknowledged for an exceptional mobile app experience by users and reviewers alike.
Dive deeper: Best Stock Trading Apps UK.
When comparing the beginner investor educational resources of eToro and Saxo, it is clear that each offers distinct advantages. eToro provides resources on share trading, an important topic for new investors, giving it a strong foothold in this area. However, Saxo surpasses eToro by offering live educational webinars, which are also accessible on-demand for flexible learning. This feature makes Saxo more accommodating for diverse learning schedules. Despite eToro's commendable 4.5-star rating for beginner education from UK.StockBrokers.com, it is ranked 10th out of 18 brokers. In contrast, Saxo's comprehensive educational approach is reflected in its top-notch 5-star rating and impressive second-place ranking. While neither broker offers educational resources specifically for funds or retirement, Saxo's broader webinar offerings and higher overall educational rating make it a more appealing choice for those just starting their investment journey.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Education (Share Trading) | Yes | No |
| Education (Funds) | No | No |
| Education (Retirement) | No | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of online brokers eToro and Saxo, it's clear that both platforms provide robust resources for investors. eToro and Saxo each offer research and insights into shares and ETFs, alongside the ability to view portfolio allocations by asset class, which enhances investment decision-making. However, Saxo prevails with more comprehensive research options, including detailed reports on funds and bonds, whereas eToro does not provide these specific reports. Additionally, both platforms support CFDs research, offering diverse tools for various investment strategies. For investors seeking in-depth research reports, especially on funds and bonds, Saxo might be the more suitable choice.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | No | Yes |
| Research - Funds | No | Yes |
| Fund Research - Research Reports | No | Yes |
| Portfolio Allocation Breakdown | Yes | Yes |
Which broker is better overall, eToro or Saxo? After collecting more than 900 data points over a 10-week period, we found eToro to be a better trading platform overall.
eToro offers a wide range of assets and instruments and is well-known for its ‘social trading’ approach. It has among the lowest fees and best mobile app experiences of brokers we tested in the U.K., and offers a great starting point for those new to stock trading. Our analysis finds it better suited to short-term traders than long-term investors.
| Feature |
eToro
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Saxo
|
|---|---|---|
| Overall Rating |
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| Charges & Fees |
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| Mobile App |
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| Website |
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eToro provides crypto trading services, while Saxo currently does not, making eToro a preferable choice for investors interested in digital currencies.
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0 of 5| Overall Rating | eToro | Saxo | |
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| Review | eToro Review | Saxo Review | |
| Winner | check_circle |
| Investments | eToro | Saxo | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | No | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | Yes | |
| Funds | No | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | No | Yes | |
| Bonds - Government (Gilts) | No | Yes | |
| Investment Trusts | No | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | Yes | No | |
| Advisor Services | No | No |
| Trading Fees | eToro | Saxo | |
|---|---|---|---|
| Minimum Deposit | $50 | £0 | |
| Share Trading: 0-9 Deals/ Month | £0 | From £3 or 0.08% | |
| Share Trading: 10-19 Deals/ Month | £0 | From £3 or 0.08% | |
| Share Trading: 20+ Deals/ Month | £0 | From £3 or 0.08% | |
| 5 trades per year (£30k portfolio) | £0 | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | |
| 12 trades per year (£30k portfolio) | £0 | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | |
| 36 trades per year (£30k portfolio) | £0 | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | |
| 120 trades per year (£30k portfolio) | £0 | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | |
| 3 fund trades per year (£30k portfolio) | N/A | 0.4% + 0% commission: £120 | |
| Annual Custody Fee: £0 - £250,000 | £0 | Up to £800 | |
| Annual Custody Fee: £250K-£500K | £0 | £500 to £1,000 | |
| Annual Custody Fee: £500,000 - £1m | £0 | Up to £1,998 | |
| Annual Custody Fee: £1m and over | £0 | £1,000 | |
| Bonds - Corporate - Fee | N/A | €20 minimum | |
| Bonds - Government (Gilts) - Fee | N/A | €20 minimum | |
| ETFs - Fee | £0 | From $1 | |
| Investment Trusts - Fee | N/A | From $1 / £3 / €10 | |
| Telephone Dealing Fee | N/A | £50 |
| Broker Screenshots | eToro | Saxo | |
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| Website Gallery (click to expand) |
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| Mobile Trading Apps Gallery (click to expand) |
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| Education Gallery (click to expand) |
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| Platforms & Tools | eToro | Saxo | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 106 | 64 | |
| Charting - Drawing Tools | 56 | 20 | |
| Charting - Notes | Yes | Yes | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | Yes | Yes | |
| Charting - Index Overlays | Yes | Yes |
| Research | eToro | Saxo | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | Yes | |
| Research - Funds | No | Yes | |
| Fund Research - Research Reports | No | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | No | Yes | |
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | eToro | Saxo | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | No | No | |
| Education (Retirement) | No | No | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes |
| Overall Summary | eToro | Saxo | |
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| Review | eToro Review | Saxo Review | |
| Winner | check_circle |
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