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Fineco Bank vs Saxo Markets 2023

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is Fineco Bank better than Saxo Markets? After scoring the best share dealing accounts across 46 different variables, Fineco Bank is better than Saxo Markets. For the price-conscious trader, FinecoBank is a solid share dealing option with a broad range of investment options; but educational materials and research reports are lacking.

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Overall RatingFineco BankSaxo Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 3/5 Stars
Offering of Investments 4/5 Stars 5/5 Stars
Mobile Trading 4/5 Stars 5/5 Stars
Platforms & Tools 3.5/5 Stars 5/5 Stars
Research 3.5/5 Stars 4.5/5 Stars
Ease of Use 3.5/5 Stars 4.5/5 Stars
Education 3.5/5 Stars 4/5 Stars
Review Fineco Bank Review Saxo Markets Review
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InvestmentsFineco BankSaxo Markets
ISA Yes Yes
SIPP No Yes
Share Trading Yes Yes
CFD Trading Yes Yes
Funds Yes Yes
ETFs Yes Yes
Bonds - Corporate Yes Yes
Bonds - Government (Gilts) Yes Yes
Investment Trusts No Yes
Spread Betting No No
Crypto Trading No No
Advisor Services No No
Trading FeesFineco BankSaxo Markets
Minimum Deposit £0.0 £500.0
Share Trading: 0-9 Deals/ Month £2.95 0.10% (£8 min)
Share Trading: 10-19 Deals/ Month £2.95 0.10% (£8 min)
Share Trading: 20+ Deals/ Month £2.95 0.10% (£8 min)
5 trades per year (£30k portfolio) £75 £142
12 trades per year (£30k portfolio) £35.4 £198
36 trades per year (£30k portfolio) £106.2 £390
120 trades per year (£30k portfolio) £354 £1062
3 fund trades per year (£30k portfolio) £14.75 £126
Annual Custody Fee: £0 - £250,000 0.25% 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £250K-£500K 0.15% 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £500,000 - £1m 0.15% 0.12% (min. €120 or £ equivalent)
Annual Custody Fee: £1m and over 0.05% 0.12% (min. €120 or £ equivalent)
Bonds - Corporate - Fee £6.95 0.20% (min. EUR20)
Bonds - Government (Gilts) - Fee £6.95 0.20% (min. EUR20)
ETFs - Fee £2.95 0.10% (£8 min)
Investment Trusts - Fee N/A 0.10% (£8 min)
Telephone Dealing Fee N/A £50
Platforms & ToolsFineco BankSaxo Markets
Web Platform Yes Yes
iPhone App Yes Yes
Android App Yes Yes
Stock Alerts Yes Yes
Charting - Indicators / Studies 22 62
Charting - Drawing Tools 3 20
Charting - Notes No Yes
Charting - Display Corporate Events Yes No
Charting - Stock Overlays Yes Yes
Charting - Index Overlays Yes Yes
ResearchFineco BankSaxo Markets
Research - Shares Yes Yes
Research - CFDs No Yes
Research - Funds Yes Yes
Fund Research - Research Reports No No
Research - ETFs Yes Yes
Research - Bonds Yes Yes
Portfolio Allocation Breakdown Yes Yes
EducationFineco BankSaxo Markets
Has Education - Share Trading No Yes
Has Education - Funds No No
Has Education - Retirement No No
Client Webinars Yes Yes
Client Webinars (Archived) Yes Yes
Overall SummaryFineco BankSaxo Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Commissions & Fees 5/5 Stars 3/5 Stars
Offering of Investments 4/5 Stars 5/5 Stars
Mobile Trading 4/5 Stars 5/5 Stars
Platforms & Tools 3.5/5 Stars 5/5 Stars
Research 3.5/5 Stars 4.5/5 Stars
Ease of Use 3.5/5 Stars 4.5/5 Stars
Education 3.5/5 Stars 4/5 Stars
Review Fineco Bank Review Saxo Markets Review
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Fineco Bank vs Saxo Markets Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Fineco Bank vs Saxo Markets.

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, Fineco Bank 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 - Fineco Bank would cost £75 per year, while Saxo Markets would cost £142 per year.

12 trades per year - Fineco Bank would cost £35.4 per year, while Saxo Markets would cost £198 per year.

36 trades per year - Fineco Bank would cost £106.2 per year, while Saxo Markets would cost £390 per year.

120 trades per year - Fineco Bank would cost £354 per year, while Saxo Markets would cost £1062 per year.

3 fund trades per year - Fineco Bank would cost £14.75 per year, while Saxo Markets would cost £126 per year.

Which broker offers a wider range of investment options?

Fineco Bank offers investors access to ISA, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate and Bonds - Government (Gilts), while Saxo Markets offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, neither have Spread Betting, Crypto Trading 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.

Which broker offers better research?

Our testing concluded that Saxo Markets is better for research than Fineco Bank. Saxo Markets offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Fineco Bank and Saxo Markets, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, Saxo Markets offers a better share dealing platform and Saxo Markets offers a better stock app for mobile trading.

Overall winner: Fineco Bank

Read Next: Best UK Trading Platforms 2022


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