Written by StockBrokers.com
In this head to head comparison of Freetrade vs Saxo, 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 - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year.
12 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year.
36 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year.
120 trades per year - Freetrade would cost £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year.
3 fund trades per year - Freetrade would cost £1 per year, while Saxo would cost £0 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 online brokers Freetrade and Saxo, both platforms offer users the ability to trade shares and ETFs, making them viable options for investors looking to build a diverse portfolio. Additionally, both brokers provide access to investment trusts, enhancing the range of investment vehicles available. However, Freetrade and Saxo do not currently support crypto trading, spread betting, or advisor services. In contrast, Saxo provides a broader scope of investment choices with the inclusion of CFD trading, funds trading, corporate bonds, and government bonds, although it maintains the same restriction on crypto trading and advisor services as Freetrade.
In terms of user ratings and rankings, UK.StockBrokers.com gives Freetrade a solid 4-star rating out of five for its investment choices, yet it lands at #13 out of 18 brokers. On the other hand, Saxo shines with a full 5-star rating and holds the prestigious position of #1 out of 18 brokers for investment offerings. This indicates a more comprehensive array of options available through Saxo, which may be more appealing to investors seeking a wider array of choices in the financial markets.
| Feature |
Freetrade
|
Saxo
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | No | Yes |
| ETFs | Yes | Yes |
| Funds | No | Yes |
| Bonds - Government (Gilts) | No | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | No |
| Advisor Services | No | No |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
When it comes to trading tools, Freetrade and Saxo have some notable differences in their offerings. Freetrade's platform is straightforward, providing essential features like a browser-based trading platform, the ability to create alerts for stock price updates, and access to real-time market data. However, it does not cater to users looking for advanced charting tools. Freetrade lacks support for displaying corporate events on charts, drawing tools, technical indicators, and the ability to add notes, index overlays, or stock overlays to charts, which may limit in-depth market analysis for some traders.
In contrast, Saxo provides a more comprehensive suite of trading tools tailored for those seeking detailed analysis capabilities. Users can benefit from up to 20 drawing tools and 64 technical indicators, significantly enhancing charting capabilities. Additionally, Saxo's platform allows traders to add notes, index overlays, and stock overlays to charts, although it similarly does not display corporate events like earnings, splits, or dividends directly on charts. Like Freetrade, Saxo also supports a browser-based platform, real-time data, and customizable stock alerts, making it a robust option for traders valuing detailed charting features.
| Feature |
Freetrade
|
Saxo
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|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 0 | 64 |
| Charting - Drawing Tools | 0 | 20 |
| Charting - Notes | No | Yes |
| Charting - Display Corporate Events | No | No |
| Charting - Stock Overlays | No | Yes |
| Charting - Index Overlays | No | Yes |
When choosing an online broker for managing retirement accounts, both Freetrade and Saxo provide attractive options. Freetrade offers individual savings accounts (ISA) and self-invested personal pensions (SIPP), catering to a broad range of investment needs. Similarly, Saxo provides both ISA and SIPP accounts, allowing for versatile retirement planning. Whether prioritizing ease of use or comprehensive investment strategies, both brokers present solid choices for those looking to manage their financial future.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
If you're comparing Freetrade and Saxo for mobile trading, both brokers offer user-friendly apps for Android and iPhone users. Freetrade's app is rated 4 stars by UK.StockBrokers.com, placing it at #8 among 18 brokers in their mobile app rankings. On the other hand, Saxo stands out with a 5-star rating, topping the list as the #1 app. Whether you're a novice or seasoned investor, both apps provide solid platforms for managing your investments on the go, with Saxo slightly edging ahead in expert evaluations.
Dive deeper: Best Stock Trading Apps UK.
When it comes to beginner investor educational resources, Saxo excels with its comprehensive offerings compared to Freetrade. Saxo provides valuable live and on-demand webinars to enhance learning, whereas Freetrade does not offer webinars in any format. Freetrade focuses its education on specific topics like share trading, funds, and retirement, which are not covered by Saxo. However, Saxo's broad approach and interactive learning opportunities contribute to its top-tier 5-star rating by UK.StockBrokers.com, placing it 2nd among 18 brokers. Meanwhile, Freetrade, with its focused educational topics, holds a 3.5-star rating and ranks 9th. This comparison reflects Saxo's superior alignment with beginner educational needs through engaging content delivery, despite Freetrade's niche subject focus.
| Feature |
Freetrade
|
Saxo
|
|---|---|---|
| Client Webinars | No | Yes |
| Client Webinars (Archived) | No | Yes |
| Education (Share Trading) | Yes | No |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of online brokers Freetrade and Saxo, several key differences and similarities emerge. Both platforms allow users to view portfolio allocation by asset class, and they provide research on shares and ETFs. However, Saxo offers a more comprehensive suite of research options by providing access to research reports for funds, CFDs, and bonds, areas where Freetrade falls short. While both brokers deliver essential information for shares and ETFs, those seeking in-depth research across other financial instruments may find Saxo's offerings more robust.
| Feature |
Freetrade
|
Saxo
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | No | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | No | Yes |
| Research - Funds | No | Yes |
| Fund Research - Research Reports | No | Yes |
| Portfolio Allocation Breakdown | Yes | Yes |
Which broker is better overall, Freetrade or Saxo? After collecting more than 900 data points over a 10-week period, we found Freetrade to be a better trading platform overall.
Overall Freetrade is a great platform to help you get to grips with investing. Costs are low, and its user-friendly mobile app offers great investment inspiration. Sophisticated investors, however, may find that other platforms offer a wider range of investment options and tools.
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Saxo
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Both Freetrade and Saxo do not offer crypto trading, making them equal in terms of cryptocurrency investment options.
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0 of 5| Overall Rating | Freetrade | Saxo | |
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| Review | Freetrade Review | Saxo Review | |
| Winner | check_circle |
| Investments | Freetrade | Saxo | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | No | Yes | |
| Funds | No | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | No | Yes | |
| Bonds - Government (Gilts) | No | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | No | No | |
| Advisor Services | No | No |
| Trading Fees | Freetrade | Saxo | |
|---|---|---|---|
| Minimum Deposit | £1 | £0 | |
| Share Trading: 0-9 Deals/ Month | £0 | From £3 or 0.08% | |
| Share Trading: 10-19 Deals/ Month | £0 | From £3 or 0.08% | |
| Share Trading: 20+ Deals/ Month | £0 | From £3 or 0.08% | |
| 5 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | |
| 12 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | |
| 36 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | |
| 120 trades per year (£30k portfolio) | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | |
| 3 fund trades per year (£30k portfolio) | N/A | 0.4% + 0% commission: £120 | |
| Annual Custody Fee: £0 - £250,000 | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | Up to £800 | |
| Annual Custody Fee: £250K-£500K | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £500 to £1,000 | |
| Annual Custody Fee: £500,000 - £1m | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | Up to £1,998 | |
| Annual Custody Fee: £1m and over | £0 (Basic plan), £59.88 (Standard), £119.88 (Plus) | £1,000 | |
| Bonds - Corporate - Fee | N/A | €20 minimum | |
| Bonds - Government (Gilts) - Fee | N/A | €20 minimum | |
| ETFs - Fee | £0 | From $1 | |
| Investment Trusts - Fee | £0 | From $1 / £3 / €10 | |
| Telephone Dealing Fee | N/A | £50 |
| Broker Screenshots | Freetrade | Saxo | |
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| Education Gallery (click to expand) |
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| Platforms & Tools | Freetrade | Saxo | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 0 | 64 | |
| Charting - Drawing Tools | 0 | 20 | |
| Charting - Notes | No | Yes | |
| Charting - Display Corporate Events | No | No | |
| Charting - Stock Overlays | No | Yes | |
| Charting - Index Overlays | No | Yes |
| Research | Freetrade | Saxo | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | No | Yes | |
| Research - Funds | No | Yes | |
| Fund Research - Research Reports | No | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | No | Yes | |
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | Freetrade | Saxo | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | No | Yes | |
| Client Webinars (Archived) | No | Yes |
| Overall Summary | Freetrade | Saxo | |
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| Review | Freetrade Review | Saxo Review | |
| Winner | check_circle |
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