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.
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, 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 considering online brokers for UK investors, Saxo and Freetrade offer distinct options for investment choices. Both platforms allow users to trade shares, making them appealing for those keen on stock investments. Additionally, each broker provides access to ETFs and investment trusts for diversified portfolio building. However, Saxo extends its reach significantly by offering CFD trading, funds trading, and the ability to trade in corporate and government bonds, which are options not available with Freetrade. This broader range of choices contributes to Saxo's top-tier rating and number one ranking for investment choices by UK.StockBrokers.com.
On the other hand, Freetrade still presents a commendable offering, especially for investors prioritizing simple stock and ETF trades without venturing into more complex financial products. It's rated four out of five stars by UK.StockBrokers.com and holds the 17th spot out of 21 brokers in the category of investment choices. Both brokers, however, do not offer crypto trading, spread betting, or advisor services, making them more traditional in their investment offerings. For those seeking a more comprehensive platform, Saxo might be the preferred choice, while Freetrade remains a solid option for straightforward, fee-friendly stock trading.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Funds | Yes | No |
| Bonds - Government (Gilts) | Yes | No |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | 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 the trading tools of Saxo and Freetrade, distinct differences emerge for UK investors. Both platforms provide a browser-based trading environment and real-time market data, as well as the ability to create alerts for stock price updates. However, Freetrade lacks many of the charting features that Saxo offers, such as the ability to add notes to charts or overlay indexes and stocks. Saxo sets itself apart by offering 20 drawing tools and a substantial 64 technical indicators for charting, while Freetrade offers none in these areas.
Additionally, neither platform allows for the display of corporate events like earnings, splits, and dividends on their charts. This can be a limitation for investors seeking a comprehensive overview of financial events directly within their trading platform. Overall, for users who prioritize advanced charting tools and customization, Saxo presents a more feature-rich option compared to Freetrade. Meanwhile, Freetrade might appeal to those looking for a more straightforward and minimalist approach to trading.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 64 | 0 |
| Charting - Drawing Tools | 20 | 0 |
| Charting - Notes | Yes | No |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | Yes | No |
| Charting - Index Overlays | Yes | No |
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 the educational resources for beginner investors at Saxo and Freetrade, UK investors have a few key differences to consider. Saxo stands out with highly rated educational content, earning a commendable 5-star rating from UK.StockBrokers.com and ranking third among 21 brokers. It offers live and on-demand webinars, making it easy to access expert insights at your convenience. In contrast, Freetrade, although it provides educational material on share trading, funds, and retirement, lacks webinars and is rated 3.5 stars, placing it at sixteenth. Saxo's dynamic webinar offerings versus Freetrade's focus on fundamental investing education represent distinct paths tailored to different learning preferences.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Education (Share Trading) | No | Yes |
| Education (Funds) | No | Yes |
| Education (Retirement) | No | Yes |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When considering market research offerings, Saxo offers UK investors a more comprehensive package than Freetrade. Saxo provides detailed research reports for a wide range of financial products, including funds, shares, ETFs, CFDs, and bonds, while Freetrade lacks reports for funds, CFDs, and bonds. Both platforms allow users to review their portfolio allocation by asset class and offer shares and ETFs research, making them suitable for those prioritizing these aspects. However, for investors seeking in-depth research data across a broader spectrum of investment products, Saxo stands out as the more informative option.
| Feature |
Saxo
|
Freetrade
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | No |
| Research - Funds | Yes | No |
| Fund Research - Research Reports | Yes | No |
| 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, neither Saxo nor Freetrade offers crypto trading, providing investors with similar limitations in cryptocurrency investment options.
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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 | No | |
| Funds | Yes | No | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | No | |
| Bonds - Government (Gilts) | Yes | No | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | |||
| Advisor Services | No | No |
| 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 | |
|---|---|---|---|
| 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 | No | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | Yes | No | |
| Charting - Index Overlays | Yes | No |
| Research | Saxo | Freetrade | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | No | |
| Research - Funds | Yes | No | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | No | |
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | Saxo | Freetrade | |
|---|---|---|---|
| Education (Share Trading) | No | Yes | |
| Education (Funds) | No | Yes | |
| Education (Retirement) | No | Yes | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No |
| Overall Summary | Saxo | Freetrade | |
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| Review | Saxo Review | Freetrade Review | |
| Winner | check_circle |
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