Saxo Markets vs eToro 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.

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.

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 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 eToro would cost £0 per year.

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

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

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

3 fund trades per year - Saxo Markets would cost £0.0 per year, while eToro would cost £50.0 per year.

Saxo Markets requires a minimum deposit of £0.0, while eToro requires a minimum deposit of £50.0. 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 eToro 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 eToro offers investors access to Share Trading, CFD Trading, ETFs and Crypto Trading. Neither have Spread Betting 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 eToro offers traders access to neither of these 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 eToro offer crypto investing.

Our testing concluded that the website of eToro is better than the website of Saxo Markets. eToro 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 eToro, 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 eToro offers access to Education (Share Trading). Neither have Education (Funds) and Education (Retirement).