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 looking at online brokers like eToro and Saxo, you’ll find each offers a variety of investment options to UK investors. eToro provides the opportunity to engage in share and crypto trading, along with trading contracts for difference (CFDs) and exchange-traded funds (ETFs). However, it does not offer trading of funds, corporate or government bonds, or investment trusts. This places eToro in the middle of the pack with good ratings but fewer comprehensive choices compared to some competitors.
Saxo, on the other hand, shines as the top-ranked broker for investment choices according to UK.StockBrokers.com. While it lacks crypto trading options, Saxo more than compensates with its wide array of options including share trading, ETFs, and CFDs, plus the addition of funds, corporate and government bonds, and investment trusts. This broad selection earns Saxo a stellar rating, presenting a more rounded toolkit for investors who are looking to explore a diverse range of assets and securities.
| 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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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When comparing eToro and Saxo for their trading tools, both platforms provide a comprehensive set of features for UK traders. While neither offers the ability to display corporate events like earnings or dividends directly on charts, eToro stands out with a wider variety of charting tools, providing 56 drawing tools compared to Saxo's 20. eToro also leads with 106 technical indicators, whereas Saxo offers 64. Both platforms allow users to add notes and include index and stock overlays to their charts.
For those who prefer trading online, both eToro and Saxo offer user-friendly browser-based platforms. Traders can stay updated with alerts for stock price changes and access real-time market data on both platforms, ensuring they are always in the loop. With these features, both eToro and Saxo cater well to traders seeking efficient and informative online trading experiences.
| 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 online brokers eToro and Saxo for retirement accounts in the UK, it's crucial to note the differences in offerings. Both eToro and Saxo provide ISA accounts, allowing you to invest in a tax-efficient manner. However, when it comes to SIPP accounts, which are essential for those seeking to manage their pension funds with more control, Saxo stands out as it offers this option, while eToro does not. This distinction could influence your choice depending on your retirement planning needs.
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 offered by eToro and Saxo, UK residents might find notable differences. Saxo excels with its comprehensive client webinars, both live and archived, offering a dynamic learning platform not available with eToro. While eToro provides educational content specifically on share trading, Saxo lacks in this area but takes the lead overall for beginner education with a UK.StockBrokers.com rating of 5 stars, ranking third out of 21 brokers. In contrast, eToro, ranked 11th and rated 4.5 stars, might appeal to those more focused on share trading education but falls short in overall instructional breadth for new investors.
| 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 tools available on eToro and Saxo for investors in the UK, several distinctions become evident. Both platforms provide the ability to view portfolio allocation by asset class and offer research on shares, ETFs, and CFDs, catering to a diverse range of investment interests. However, Saxo stands out by offering research reports for funds and bonds, which eToro does not provide. This makes Saxo potentially more appealing for investors seeking comprehensive insights into these specific areas. On the other hand, investors focusing primarily on shares, ETFs, or CFDs might find eToro's offerings sufficient. Ultimately, the choice between these brokers may hinge on the specific market research needs and investment preferences of the user.
| 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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| Investment Choices |
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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 | ||
| 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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| 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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