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Saxo vs Halifax 2024

StockBrokers.com

Written by StockBrokers.com

August 06, 2024

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

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Compare

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Overall Rating Saxo Halifax
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 4/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 5/5 Stars
Mobile App 5/5 Stars 3.5/5 Stars
Website 4.5/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review Saxo Review Halifax Review
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Investments Saxo Halifax
ISA info Yes Yes
SIPP info Yes Yes
Share Trading info Yes No
CFD Trading info Yes No
Funds info Yes Yes
ETFs info Yes Yes
Bonds - Corporate info Yes Yes
Bonds - Government (Gilts) info Yes Yes
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No Yes
Trading Fees Saxo Halifax
Minimum Deposit info £0 £0
Share Trading: 0-9 Deals/ Month info From £3 or 0.08% £9.50
Share Trading: 10-19 Deals/ Month info From £3 or 0.08% £9.50
Share Trading: 20+ Deals/ Month info From £3 or 0.08% £9.50
5 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £51 £83.50
12 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £72 £150
36 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £144 £378
120 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £396 £1,176
3 fund trades per year (£30k portfolio) info 0.4% + 0% commission: £120 £64.50
Annual Custody Fee: £0 - £250,000 info Up to £800 info £36
Annual Custody Fee: £250K-£500K info £500 to £1,000 £36
Annual Custody Fee: £500,000 - £1m info Up to £1,998 £36
Annual Custody Fee: £1m and over info £1,000 £36
Bonds - Corporate - Fee info €20 minimum £9.5
Bonds - Government (Gilts) - Fee info €20 minimum £9.5
ETFs - Fee info From $1 £9.5
Investment Trusts - Fee info From $1 / £3 / €10 £9.5
Telephone Dealing Fee info £50 £25
Broker Screenshots Saxo Halifax
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Saxo Halifax
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes Yes
Charting - Indicators / Studies info 64 0
Charting - Drawing Tools info 20 0
Charting - Notes info Yes No
Charting - Display Corporate Events info No No
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No
Research Saxo Halifax
Research - Shares info Yes Yes
Research - CFDs info Yes No
Research - Funds info Yes Yes
Fund Research - Research Reports info Yes No
Research - ETFs info Yes Yes
Research - Bonds info Yes Yes
Portfolio Allocation Breakdown info Yes No
Education Saxo Halifax
Education (Share Trading) info No No
Education (Funds) info No No
Education (Retirement) info No No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Overall Summary Saxo Halifax
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 4/5 Stars 4.5/5 Stars
Investment Choices 5/5 Stars 5/5 Stars
Mobile App 5/5 Stars 3.5/5 Stars
Website 4.5/5 Stars 4/5 Stars
Ease of Use 4/5 Stars 3.5/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review Saxo Review Halifax 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 Saxo and Halifax.

Saxo vs Halifax Comparison

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

Is Saxo 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.

Is Halifax a good broker?

If you are already a Halifax bank customer, it may be worth signing up to Halifax online share dealing for simplicity. The charges are in line with some other brokers, but more expensive than others. If you have a large investment portfolio you may benefit from the low annual management fee of £36. If you are new to Halifax, there may be a better platform for you that is cheaper and easier to open.

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, Halifax 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 Halifax would cost £83.50 per year.

12 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year, while Halifax would cost £150 per year.

36 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year, while Halifax would cost £378 per year.

120 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year, while Halifax would cost £1,176 per year.

3 fund trades per year - Saxo would cost £0 per year, while Halifax would cost £0 per year.

query_stats What type of trader are you?

New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.

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

Saxo requires a minimum deposit of £0, while Halifax requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 Saxo charges annual custody fees of Up to £800, while Halifax charges annual custody fees of £36.

Which broker offers a wider range of investment options?

Saxo offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while Halifax offers investors access to ISA, SIPP, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts), Investment Trusts and Advisor Services. Neither have Spread Betting and Crypto Trading. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do Saxo and Halifax 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 Saxo and Halifax offer SIPP and ISA accounts.

Do Saxo and Halifax 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 Saxo nor Halifax offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Saxo is better than the website of Halifax. Saxo 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 Saxo and Halifax, we tested each broker's stock trading app. All features compared, our analysis finds that Saxo offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Saxo and Halifax 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 Saxo offers traders access to Client Webinars and Client Webinars (Archived), while Halifax offers access to none. Neither have Education (Share Trading), Education (Funds) and Education (Retirement).

Overall winner: Saxo

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