Written by StockBrokers.com
In this head to head comparison of Saxo vs Freetrade, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.
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, Freetrade 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 - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
12 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
36 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
120 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year, while Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year.
3 fund trades per year - Saxo would cost £0 per year, while Freetrade would cost £1 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 investment choices between Saxo and Freetrade, both platforms provide options for share and ETF trading, appealing to UK investors seeking straightforward entry points into the stock market. However, Saxo stands out with a wider array of investment choices, offering services such as trading of CFDs, funds, corporate bonds, and government bonds (gilts), while also including investment trusts in their lineup. Freetrade, on the other hand, limits its offerings primarily to share trading, ETFs, and investment trusts, positioning it as a more simplified platform for those looking for essential investment channels without the complexities of other trading options.
While both brokers have made their mark in the trading world, Saxo's extensive variety of investment choices earns it a top rating of 5 stars from UK.StockBrokers.com, securing the #1 rank for investment choices among 21 brokers. In contrast, Freetrade receives a 4-star rating and ranks #17 in the same category. For UK investors, the choice between these two platforms will depend on their appetite for diverse investment opportunities versus a more streamlined approach.
| Feature |
Saxo
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Freetrade
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|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | |
| ETFs | Yes | Yes |
| Funds | Yes | |
| Bonds - Government (Gilts) | Yes | |
| Investment Trusts | Yes | Yes |
| Spread Betting | ||
| Crypto Trading | ||
| Advisor Services | ||
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When comparing the trading tools between Saxo and Freetrade, UK investors will find notable differences. Saxo offers a feature-rich environment, allowing users to display corporate events like earnings, splits, and dividends on charts, with 20 drawing tools and 64 technical indicators at their disposal. Additionally, Saxo users can add notes to charts and overlay both indexes and stocks directly on their charts. This comprehensive arsenal is accessible through Saxo's browser-based platform, which also provides real-time market data and the ability to create alerts for stock price updates.
In contrast, Freetrade offers a simpler, more streamlined interface that lacks many of Saxo's intricate features. While it provides a straightforward browser-based platform with real-time data and alerts for stock price updates, Freetrade does not include tools for charting corporate events, drawing tools, technical indicators, or the ability to add notes and overlays to charts. This makes Freetrade a minimalist choice for those who prefer simplicity over detailed trading analysis tools.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 64 | 0 |
| Charting - Drawing Tools | 20 | 0 |
| Charting - Notes | Yes | |
| Charting - Display Corporate Events | ||
| Charting - Stock Overlays | Yes | |
| Charting - Index Overlays | Yes |
When comparing online brokers in the UK, Saxo and Freetrade both provide Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them suitable options for those seeking to manage their retirement savings tax-efficiently. Saxo, a seasoned player in the brokerage field, caters to experienced investors looking for a range of sophisticated investment choices within their ISAs and SIPPs. On the other hand, Freetrade appeals to newer investors with its user-friendly platform and straightforward pricing structure, offering accessible entry into retirement investing through these tax-efficient accounts. Both brokers support individuals in planning for their financial future by providing essential retirement account options tailored to different investment approaches.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing the mobile app offerings of Saxo and Freetrade for UK investors, both brokers provide apps for iPhone and Android devices. However, Saxo's mobile app stands out with a perfect 5-star rating from UK.StockBrokers.com and ranks as the top choice among 21 brokers for mobile app performance. On the other hand, Freetrade's mobile app, while still commendable, receives a 4-star rating and holds the 12th position in the same ranking. This makes Saxo's mobile app a more highly regarded option for those prioritizing top-tier app user experience in the UK market.
Dive deeper: Best Stock Trading Apps UK.
When comparing Saxo and Freetrade's educational resources for beginner investors in the UK, Saxo clearly leads with a 5-star rating from UK.StockBrokers.com, securing the 3rd spot out of 21 brokers, while Freetrade holds a 3.5-star rating, ranked at 16th. Saxo offers live webinars that can be watched on demand, catering to various learning schedules, although it lacks specific education on share trading, funds, and retirement. Meanwhile, Freetrade provides targeted educational content on share trading, funds, and retirement but does not offer webinars. For beginners prioritizing extensive webinar access, Saxo stands out, whereas Freetrade offers focused content on specific investment topics.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | |
| Education (Share Trading) | Yes | |
| Education (Funds) | Yes | |
| Education (Retirement) | Yes | |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
For UK investors comparing market research features between Saxo and Freetrade, Saxo stands out with comprehensive options. Both Saxo and Freetrade provide research on shares, ETFs, and portfolio allocation by asset class. However, Saxo dives deeper with additional research on funds, CFDs, and bonds, which Freetrade does not offer, highlighting a more extensive set of insights for those who desire detailed market analysis.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | 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, Saxo or Freetrade? After collecting more than 900 data points over a 10-week period, we found Saxo to be a better trading platform overall.
Saxo’ 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.
| Feature |
Saxo
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Freetrade
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|---|---|---|
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When comparing online brokers Saxo and Freetrade, Saxo offers crypto trading services, while Freetrade does not.
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0 of 5| Overall Rating | Saxo | Freetrade | |
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| Review | Saxo Review | Freetrade Review | |
| Winner | check_circle |
| Investments | Saxo | Freetrade | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | ||
| Funds | Yes | ||
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | ||
| Bonds - Government (Gilts) | Yes | ||
| Investment Trusts | Yes | Yes | |
| Spread Betting | |||
| Crypto Trading | |||
| Advisor Services |
| Trading Fees | Saxo | Freetrade | |
|---|---|---|---|
| Minimum Deposit | £0 | £1 | |
| Share Trading: 0-9 Deals/ Month | From £3 or 0.08% | £0 | |
| Share Trading: 10-19 Deals/ Month | From £3 or 0.08% | £0 | |
| Share Trading: 20+ Deals/ Month | From £3 or 0.08% | £0 | |
| 5 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 12 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 36 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 120 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| 3 fund trades per year (£30k portfolio) | 0.4% + 0% commission: £120 | N/A | |
| Annual Custody Fee: £0 - £250,000 | Up to £800 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £250K-£500K | £500 to £1,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £500,000 - £1m | Up to £1,998 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Annual Custody Fee: £1m and over | £1,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | |
| Bonds - Corporate - Fee | €20 minimum | N/A | |
| Bonds - Government (Gilts) - Fee | €20 minimum | N/A | |
| ETFs - Fee | From $1 | £0 | |
| Investment Trusts - Fee | From $1 / £3 / €10 | £0 | |
| Telephone Dealing Fee | £50 | N/A |
| Broker Screenshots | Saxo | Freetrade | |
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| Website Gallery (click to expand) |
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| Mobile Trading Apps Gallery (click to expand) |
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| Education Gallery (click to expand) |
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| Platforms & Tools | Saxo | Freetrade | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 64 | 0 | |
| Charting - Drawing Tools | 20 | 0 | |
| Charting - Notes | Yes | ||
| Charting - Display Corporate Events | |||
| Charting - Stock Overlays | Yes | ||
| Charting - Index Overlays | Yes |
| Research | Saxo | Freetrade | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | ||
| Research - Funds | Yes | ||
| Fund Research - Research Reports | Yes | ||
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | ||
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | Saxo | Freetrade | |
|---|---|---|---|
| Education (Share Trading) | Yes | ||
| Education (Funds) | Yes | ||
| Education (Retirement) | Yes | ||
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes |
| Overall Summary | Saxo | Freetrade | |
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| Review | Saxo Review | Freetrade Review | |
| Winner | check_circle |
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