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.
Your capital is at risk.
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 comparing the online brokers eToro and Saxo for UK investors, both platforms facilitate share trading, CFD trading, and the trading of ETFs. Where eToro stands out is its offering in cryptocurrency trading, appealing to those looking to delve into digital assets. However, in terms of traditional investment options, Saxo provides a broader array, including funds trading, corporate bonds, government bonds (gilts), and investment trusts, giving a comprehensive choice for those preferring established financial products and diversifying their portfolios.
In terms of ratings from UK.StockBrokers.com, eToro receives a commendable 4.5 stars for its investment choices, securing the 15th position out of 21 brokers, a strong position for many investors seeking modern options like crypto. Saxo, however, takes the top spot in the rankings with a full 5-star rating, highlighting its extensive and diverse investment opportunities. While both eToro and Saxo offer distinct advantages, the choice may boil down to specific investment interests and preferred trading assets for a potential UK investor.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | Yes |
| ETFs | Yes | Yes |
| Funds | Yes | |
| Bonds - Government (Gilts) | Yes | |
| Investment Trusts | Yes | |
| Spread Betting | ||
| Crypto Trading | Yes | |
| Advisor Services | ||
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When comparing eToro and Saxo for trading tools, both platforms offer a range of features designed to enhance traders' experiences. eToro shines with its provision of 56 drawing tools and 106 technical indicators, making it a go-to option for traders who value charting versatility. It also supports adding notes, index overlays, and stock overlays to charts, similar to Saxo. Both brokers allow users to display corporate events on charts, though with differences in detail. Furthermore, eToro caters to consistency in accessing market data by offering a browser-based trading platform, akin to Saxo, and facilitates real-time market updates.
Saxo, on the other hand, presents a slightly more streamlined approach with 20 drawing tools and 64 technical indicators. Like eToro, Saxo enables the addition of notes, as well as index and stock overlays on charts, offering a comprehensive suite for technical analysis. Both eToro and Saxo allow users to stay informed with real-time market data and price alert features, ensuring traders can quickly respond to market movements. In essence, traders in the UK looking for a well-rounded platform will find both eToro and Saxo offer considerable capabilities, though eToro may edge ahead for those favoring extensive charting tools.
| 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 | ||
| Charting - Stock Overlays | Yes | Yes |
| Charting - Index Overlays | Yes | Yes |
For UK residents evaluating retirement account options, eToro and Saxo both provide Individual Savings Accounts (ISA), allowing for tax-efficient investing. However, when it comes to Self-Invested Personal Pensions (SIPP), Saxo outshines eToro by offering this option, giving investors more freedom to manage their retirement funds. While eToro supports your investment goals with ISA accounts, those specifically looking to enhance their pension strategies with a SIPP will find Saxo the more comprehensive choice.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
Both eToro and Saxo provide convenient mobile apps for iPhone and Android users in the UK, offering flexibility and ease for trading on the go. eToro's app is highly rated, earning a perfect 5-star rating from UK.StockBrokers.com, and is ranked 5th among 21 brokers evaluated for mobile offerings. Saxo matches eToro's stellar 5-star rating, but takes the top spot as the #1 ranked app, showcasing its competitive edge in the mobile trading landscape. Whether you choose eToro or Saxo, you're assured of a top-tier mobile trading experience.
Dive deeper: Best Stock Trading Apps UK.
When comparing the educational resources for beginner investors provided by eToro and Saxo, UK readers have distinct options. Saxo offers educational webinars, which are archived for on-demand viewing, catering to those who prefer scheduled learning initiatives. While eToro doesn't provide such webinar access, it excels in share trading education, making it a viable option for those focusing on stocks. Unfortunately, neither platform currently offers education on funds or retirement. Based on reviews by UK.StockBrokers.com, Saxo edges ahead with a 5-star rating and ranks 3rd out of 21 brokers for beginner education, while eToro holds a commendable 4.5-star rating, placing it 11th. For beginners seeking comprehensive webinar archives, Saxo may serve as a more suitable choice, whereas eToro is ideal for those specifically aiming to enhance their share trading skills.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | |
| Education (Share Trading) | Yes | |
| Education (Funds) | ||
| Education (Retirement) | ||
| 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, UK investors will find that both platforms offer the ability to view portfolio allocation by asset class, as well as research on shares, ETFs, and CFDs. However, Saxo stands out with additional research offerings, providing reports for funds and bonds, which eToro does not. This makes Saxo a more comprehensive option for those seeking in-depth analysis in these areas.
| Feature |
eToro
|
Saxo
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | |
| Research - Funds | Yes | |
| Fund Research - Research Reports | 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
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| Overall Rating |
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| Charges & Fees |
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| Investment Choices |
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| Mobile App |
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| Website |
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eToro offers crypto trading, while Saxo does not provide this option, making eToro a more suitable choice for investors interested in cryptocurrency trading.
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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 | Yes | ||
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | Yes | |
| Funds | Yes | ||
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | ||
| Bonds - Government (Gilts) | Yes | ||
| Investment Trusts | Yes | ||
| Spread Betting | |||
| Crypto Trading | Yes | ||
| Advisor Services |
| 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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| 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 | |||
| Charting - Stock Overlays | Yes | Yes | |
| Charting - Index Overlays | Yes | Yes |
| Research | eToro | Saxo | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | Yes | |
| Research - Funds | Yes | ||
| Fund Research - Research Reports | Yes | ||
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | ||
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | eToro | Saxo | |
|---|---|---|---|
| Education (Share Trading) | Yes | ||
| Education (Funds) | |||
| Education (Retirement) | |||
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes |
| Overall Summary | eToro | Saxo | |
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| Review | eToro Review | Saxo Review | |
| Winner | check_circle |
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