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Freetrade vs Saxo Markets 2024

StockBrokers.com

Written by StockBrokers.com

February 01, 2024

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

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Overall Rating Freetrade Saxo Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 5/5 Stars 3.5/5 Stars
Investment Choices 4/5 Stars 5/5 Stars
Mobile App 4.5/5 Stars 5/5 Stars
Website 3/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 5/5 Stars
Review Freetrade Review Saxo Markets Review
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Investments Freetrade Saxo Markets
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info No Yes
CFD Trading info No Yes
Funds info No Yes
ETFs info Yes Yes
Bonds - Corporate info No Yes
Bonds - Government (Gilts) info No Yes
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No No
Trading Fees Freetrade Saxo Markets
Minimum Deposit info £1.0 £0.0
Share Trading: 0-9 Deals/ Month info £0 0.08% (£3 min)
Share Trading: 10-19 Deals/ Month info £0 0.08% (£3 min)
Share Trading: 20+ Deals/ Month info £0 0.08% (£3 min)
5 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.15% (minimum £150)
12 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.15% (minimum £150)
36 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.15% (minimum £150)
120 trades per year (£30k portfolio) info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.15% (minimum £150)
3 fund trades per year (£30k portfolio) info N/A 0.15% (minimum £150)
Annual Custody Fee: £0 - £250,000 info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.4% p.a. up to £200k; 0.2% p.a. after £200k
Annual Custody Fee: £250K-£500K info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.2% p.a.
Annual Custody Fee: £500,000 - £1m info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.2% p.a.
Annual Custody Fee: £1m and over info £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) 0.1% p.a.
Bonds - Corporate - Fee info N/A 0.20%
Bonds - Government (Gilts) - Fee info N/A 0.20%
ETFs - Fee info £0
Investment Trusts - Fee info £0 £8
Telephone Dealing Fee info N/A £50
Broker Screenshots Freetrade Saxo Markets
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Freetrade Saxo Markets
Web Platform info No Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info No Yes
Charting - Indicators / Studies info 0 64
Charting - Drawing Tools info 0 20
Charting - Notes info No Yes
Charting - Display Corporate Events info No No
Charting - Stock Overlays info No Yes
Charting - Index Overlays info No Yes
Research Freetrade Saxo Markets
Research - Shares info Yes Yes
Research - CFDs info No Yes
Research - Funds info No No
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info No Yes
Portfolio Allocation Breakdown info Yes Yes
Education Freetrade Saxo Markets
Education (Share Trading) info Yes No
Education (Funds) info Yes No
Education (Retirement) info Yes No
Client Webinars info No Yes
Client Webinars (Archived) info No Yes
Overall Summary Freetrade Saxo Markets
Overall Rating 4.5/5 Stars 4.5/5 Stars
Charges & Fees 5/5 Stars 3.5/5 Stars
Investment Choices 4/5 Stars 5/5 Stars
Mobile App 4.5/5 Stars 5/5 Stars
Website 3/5 Stars 4.5/5 Stars
Ease of Use 5/5 Stars 3.5/5 Stars
Education 4.5/5 Stars 5/5 Stars
Review Freetrade Review Saxo Markets Review
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Comparing online share dealing platforms side by side is no small task. For our 2024 review of U.K. brokers, more than 900 data points were collected over a 10-week period and used to score each broker. Let’s compare Freetrade and Saxo Markets.

Freetrade vs Saxo Markets Comparison

For our 2024 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Freetrade vs Saxo Markets.

Is Freetrade a good broker?

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.

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.

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, Freetrade 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 - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Saxo Markets would cost 0.15% (minimum £150) per year.

12 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Saxo Markets would cost 0.15% (minimum £150) per year.

36 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Saxo Markets would cost 0.15% (minimum £150) per year.

120 trades per year - Freetrade would cost £0 (Basic plan), £71.88 (Standard), £143.88 (Plus) per year, while Saxo Markets would cost 0.15% (minimum £150) per year.

3 fund trades per year - Freetrade would cost £1.0 per year, while Saxo Markets would cost £0.0 per year.

query_stats What type of trader are you?

Our guides can help you choose the right broker for you and the way you trade: whether you consider yourself an investing beginner, a more experienced active trader, or a mobile-first trading enthusiast.

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

Freetrade requires a minimum deposit of £1.0, while Saxo Markets requires a minimum deposit of £0.0. From our testing we found for accounts between £0 - £250,000 Freetrade charges annual custody fees of £0 (Basic plan), £71.88 (Standard), £143.88 (Plus), while Saxo Markets charges annual custody fees of 0.4% p.a. up to £200k; 0.2% p.a. after £200k.

Which broker offers a wider range of investment options?

Freetrade offers investors access to ISA, SIPP, ETFs and Investment Trusts, 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.

Do Freetrade and Saxo Markets 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 Both Freetrade and Saxo Markets offer SIPP and ISA accounts.

Do Freetrade and Saxo Markets 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 Freetrade nor Saxo Markets offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Saxo Markets is better than the website of Freetrade. Saxo Markets 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 Freetrade and Saxo Markets, 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 Freetrade and Saxo Markets 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 Freetrade offers traders access to Education (Share Trading), Education (Funds) and Education (Retirement), while Saxo Markets offers access to Client Webinars and Client Webinars (Archived).

Overall winner: Freetrade

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