Written by StockBrokers.com
In this head to head comparison of Saxo vs Halifax, 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, 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.
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 Saxo and Halifax for UK investors, Saxo stands out by offering share trading, whereas Halifax does not provide that option. Both brokers afford access to trading ETFs, funds, corporate and government bonds, and investment trusts. However, Saxo extends its services further with CFD trading, a choice not available with Halifax. While neither broker supports crypto trading or spread betting, Halifax does differentiate itself by offering advisor services, which Saxo lacks.
In terms of overall investment choices, both Saxo and Halifax receive impressive ratings of five stars from UK.StockBrokers.com. Nonetheless, Saxo distinguishes itself by securing the top rank among 21 brokers for investment options, while Halifax is positioned at a respectable seventh. This evidence reflects Saxo's extensive range of trading choices and strong appeal for investors seeking diverse investment avenues without expert guidance, whereas Halifax may cater well to those who value advisory services alongside their investments.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Share Trading | Yes | No |
| CFD Trading | Yes | No |
| ETFs | Yes | Yes |
| Funds | Yes | Yes |
| Bonds - Government (Gilts) | Yes | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | No | No |
| Crypto Trading | No | No |
| Advisor Services | No | Yes |
| Investment Choices |
|
|
Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
For UK traders seeking advanced charting capabilities, Saxo delivers a comprehensive suite of tools. With the ability to apply 20 drawing tools and 64 technical indicators, Saxo caters to those who thrive on detailed analysis. Additional features like adding notes, index overlays, and stock overlays further amplify the customisation options, setting Saxo apart in the realm of trading tools. While both Saxo and Halifax offer browser-based platforms and stock price alerts, Saxo strides ahead with real-time market data and intricate chart enhancements.
In comparison, Halifax's charting tools are markedly limited. The absence of drawing tools, technical indicators, and the inability to annotate or overlay charts with indices and stocks might pose constraints for traders aiming for precision and extensive data analysis. However, the platform maintains the essential functions for basic trading through its browser-based system and stock alerts. While both platforms are user-friendly, Saxo emerges as the more versatile choice for traders who demand more comprehensive charting and real-time data feeds.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| 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 |
For UK investors seeking a retirement account, both Saxo and Halifax stand as viable options, each providing Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs). These account types allow you to efficiently plan for your retirement while enjoying potential tax benefits. Whether you favor the innovative platforms and tools offered by Saxo or prefer the familiarity and longstanding reputation of Halifax, both services aim to meet your financial goals with flexible options for account management and investment strategies.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
For UK investors seeking efficient mobile trading solutions, both Saxo and Halifax provide accessible apps for iPhone and Android devices. Saxo's mobile app stands out with a top-tier 5-star rating, securing the number one spot among 21 brokers as ranked by UK.StockBrokers.com. Meanwhile, Halifax's app, rated at 3.5 stars, ranks at a more modest 18th position. This comparison highlights Saxo's superior app experience, giving users a seamless trading interface, while Halifax offers a more average option in the mobile trading arena.
Dive deeper: Best Stock Trading Apps UK.
For beginner investors in the UK seeking educational resources, Saxo and Halifax differ notably in their offerings. Saxo stands out by providing live and on-demand educational webinars, essential for new investors who prefer interactive learning at their own pace. In contrast, Halifax does not offer any webinars, which may limit beginners seeking structured guidance. Both Saxo and Halifax fall short in delivering specific education on share trading, funds, and retirement topics. Saxo’s beginner education is highly rated, achieving 5 stars and ranking third out of 21 brokers according to UK.StockBrokers.com, making it an attractive choice for novices. Meanwhile, Halifax earns a more modest 3.5-star rating and ranks 18th, indicating a less comprehensive approach to educating first-time investors.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Client Webinars | Yes | No |
| Client Webinars (Archived) | Yes | No |
| Education (Share Trading) | No | No |
| Education (Funds) | No | No |
| Education (Retirement) | No | No |
| Education |
|
|
Dive deeper: Best UK Trading Platforms for Beginners.
When comparing Saxo and Halifax for market research features, UK investors may find Saxo provides a more comprehensive suite of tools. Saxo offers detailed research reports for funds, which Halifax lacks. Additionally, Saxo allows investors to view their portfolio allocation by asset class, a feature not available with Halifax. Both platforms deliver research for shares, ETFs, and funds, ensuring valuable insights for diverse investment opportunities. Saxo further extends its research capabilities to include CFDs, a feature that Halifax does not offer. Nonetheless, both Saxo and Halifax provide research on bonds, catering to investors interested in fixed-income assets.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | No |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | No |
| Portfolio Allocation Breakdown | Yes | No |
Which broker is better overall, Saxo or Halifax? 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
|
Halifax
|
|---|---|---|
| Overall Rating |
|
|
| Charges & Fees |
|
|
| Investment Choices |
|
|
| Mobile App |
|
|
| Website |
|
|
| Ease of Use |
|
|
| Education |
|
|
When comparing online brokers, both Saxo and Halifax do not offer crypto trading, making them equal in terms of cryptocurrency investment options.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Saxo | Halifax | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| Review | Saxo Review | Halifax Review | |
| Winner | check_circle |
| Investments | Saxo | Halifax | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | No | |
| CFD Trading | Yes | No | |
| Funds | Yes | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | Yes | |
| Bonds - Government (Gilts) | Yes | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | No | No | |
| Crypto Trading | No | No | |
| Advisor Services | No | Yes |
| Trading Fees | Saxo | Halifax | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | From £3 or 0.08% | £9.50 | |
| Share Trading: 10-19 Deals/ Month | From £3 or 0.08% | £9.50 | |
| Share Trading: 20+ Deals/ Month | From £3 or 0.08% | £9.50 | |
| 5 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | £83.50 | |
| 12 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | £150 | |
| 36 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | £378 | |
| 120 trades per year (£30k portfolio) | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | £1,176 | |
| 3 fund trades per year (£30k portfolio) | 0.4% + 0% commission: £120 | £64.50 | |
| Annual Custody Fee: £0 - £250,000 | Up to £800 | £36 | |
| Annual Custody Fee: £250K-£500K | £500 to £1,000 | £36 | |
| Annual Custody Fee: £500,000 - £1m | Up to £1,998 | £36 | |
| Annual Custody Fee: £1m and over | £1,000 | £36 | |
| Bonds - Corporate - Fee | €20 minimum | £9.5 | |
| Bonds - Government (Gilts) - Fee | €20 minimum | £9.5 | |
| ETFs - Fee | From $1 | £9.5 | |
| Investment Trusts - Fee | From $1 / £3 / €10 | £9.5 | |
| Telephone Dealing Fee | £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 | 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 | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | No | |
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | No | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes | No |
| Education | Saxo | Halifax | |
|---|---|---|---|
| Education (Share Trading) | No | No | |
| Education (Funds) | No | No | |
| Education (Retirement) | No | No | |
| Client Webinars | Yes | No | |
| Client Webinars (Archived) | Yes | No |
| Overall Summary | Saxo | Halifax | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| Review | Saxo Review | Halifax Review | |
| Winner | check_circle |
Trading 212 Review
Interactive Brokers Review
Hargreaves Lansdown Review
XTB Review
IG Group Review
eToro Review
Saxo Review
CMC Invest Review
Freetrade Review
Halifax Review
Vanguard Review