UK.StockBrokers.com is committed to the highest ethical standards and reviews services independently. Learn How We Make Money

Saxo Markets vs eToro 2023

StockBrokers.com

Written by StockBrokers.com

August 03, 2023

Is Saxo Markets better than eToro? After scoring the best share dealing accounts across 46 different variables, our analysis finds that eToro is better than Saxo Markets. 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.

Select Brokers

×
  • check_box_outline_blankcheck_boxAJ Bell
  • check_box_outline_blankcheck_boxBarclays
  • check_box_outline_blankcheck_boxCapital.com
  • check_box_outline_blankcheck_boxCMC Invest
  • check_box_outline_blankcheck_boxDEGIRO
  • check_box_outline_blankcheck_boxeToro
  • check_box_outline_blankcheck_boxFineco Bank
  • check_box_outline_blankcheck_boxFreetrade
  • check_box_outline_blankcheck_boxHalifax
  • check_box_outline_blankcheck_boxHargreaves Lansdown
  • check_box_outline_blankcheck_boxIG
  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
  • check_box_outline_blankcheck_boxSaxo Markets
  • check_box_outline_blankcheck_boxTrading 212
  • check_box_outline_blankcheck_boxXTB

Compare

0 of 5
Broker Screenshots Saxo Markets eToro
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Overall Rating Saxo Markets eToro
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 3.5/5 Stars 5/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 4.5/5 Stars 5/5 Stars
Ease of Use 3.5/5 Stars 4/5 Stars
Education 5/5 Stars 4.5/5 Stars
Review Saxo Markets Review eToro Review
Winner check_circle
Investments Saxo Markets eToro
ISA info Yes No
SIPP info Yes No
Share Trading info Yes Yes
CFD Trading info Yes Yes
Funds info Yes No
ETFs info Yes Yes
Bonds - Corporate info Yes No
Bonds - Government (Gilts) info Yes No
Investment Trusts info Yes No
Spread Betting info No No
Crypto Trading info No Yes
Advisor Services info No No
Trading Fees Saxo Markets eToro
Minimum Deposit info £0.0 £50.0
Share Trading: 0-9 Deals/ Month info 0.10% (£8 min) £0
Share Trading: 10-19 Deals/ Month info 0.10% (£8 min) £0
Share Trading: 20+ Deals/ Month info 0.10% (£8 min) £0
5 trades per year (£30k portfolio) info 0.12% (minimum £120) £0
12 trades per year (£30k portfolio) info 0.12% (minimum £120) £0
36 trades per year (£30k portfolio) info 0.12% (minimum £120) £0
120 trades per year (£30k portfolio) info 0.12% (minimum £120) £0
3 fund trades per year (£30k portfolio) info 0.12% (minimum £120) N/A
Annual Custody Fee: £0 - £250,000 info 0.4% p.a. up to £200k; 0.2% p.a. after £200k £0
Annual Custody Fee: £250K-£500K info 0.2% p.a. £0
Annual Custody Fee: £500,000 - £1m info 0.2% p.a. £0
Annual Custody Fee: £1m and over info 0.1% p.a. £0
Bonds - Corporate - Fee info 0.20% N/A
Bonds - Government (Gilts) - Fee info 0.20% N/A
ETFs - Fee info £0
Investment Trusts - Fee info £8 N/A
Telephone Dealing Fee info £50 N/A
Platforms & Tools Saxo Markets eToro
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 64 105
Charting - Drawing Tools info 20 19
Charting - Notes info Yes Yes
Charting - Display Corporate Events info No No
Charting - Stock Overlays info Yes Yes
Charting - Index Overlays info Yes Yes
Research Saxo Markets eToro
Research - Shares info Yes Yes
Research - CFDs info Yes Yes
Research - Funds info No No
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info Yes No
Portfolio Allocation Breakdown info Yes Yes
Education Saxo Markets eToro
Education (Share Trading) info No Yes
Education (Funds) info No No
Education (Retirement) info No No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Overall Summary Saxo Markets eToro
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 3.5/5 Stars 5/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 4.5/5 Stars
Website 4.5/5 Stars 5/5 Stars
Research [DELETED] N/A N/A
Ease of Use 3.5/5 Stars 4/5 Stars
Education 5/5 Stars 4.5/5 Stars
Review Saxo Markets Review eToro Review
Winner check_circle
arrow_upward

Comparing online share dealing platforms side by side is no small task. For our 2023 review of U.K. brokers, nearly 600 data points were collected over a 10-week period and used to score each broker. Let’s compare Saxo Markets and eToro.

Saxo Markets vs eToro Comparison

For our 2023 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Saxo Markets vs eToro.

Is Saxo Markets a good broker?

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.

Is eToro a good broker?

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.

Which broker is less expensive?

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.

How do Saxo Markets and eToro compare in terms of minimum deposits required?

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.

Which broker offers a wider range of investment options?

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.

Do Saxo Markets and eToro offer ISA or SIPP accounts?

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.

Do Saxo Markets and eToro offer cryptocurrency?

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.

Which broker offers a better website experience?

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.

Which stock trading app is better?

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.

Do Saxo Markets and eToro offer educational resources?

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).

Overall winner: eToro

Read Next: Best UK Trading Platforms 2023


Reink Media Group is compensated if you access certain of the products or services offered by eToro USA LLC and/or eToro USA Securities Inc. Any testimonials contained in this communication may not be representative of the experience of other eToro customers and such testimonials are not guarantees of future performance or success.

close