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 choosing an online broker in the UK, both Saxo and Halifax offer competitive services, yet they differ significantly in their investment options. Saxo stands out with its variety, providing share and ETF trading, access to CFDs, funds, corporate and government bonds, and investment trusts. In contrast, Halifax provides a similar range but does not support share or CFD trading, although it uniquely offers advisor services. Both platforms accommodate fund trading, ETFs, bonds, and investment trusts, catering to diverse investing needs.
According to UK.StockBrokers.com, Saxo leads the pack, securing the top spot out of 18 brokers for investment choices, attributed to its broad selection and flexibility. With a 5-star rating, it surpasses Halifax, which also boasts a 5-star rating but is ranked seventh. These ratings reflect Saxo’s comprehensive offerings and Halifax’s focus on traditional investments paired with advisory services. Deciding between them will depend on your preference for personal guidance or extensive trading options.
| 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 |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
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 readers exploring mobile options for online trading, both Saxo and Halifax provide apps compatible with iPhone and Android devices. According to UK.StockBrokers.com, Saxo's mobile app earns a perfect 5-star rating, placing it at the top of the list out of 18 brokers. In contrast, Halifax's app receives a 3.5-star rating, ranking it last among its peers. With these ratings in mind, investors might find Saxo's app more suited to meet their trading needs with its higher user satisfaction.
Dive deeper: Best Stock Trading Apps UK.
For beginner investors in the UK, Saxo and Halifax offer differing educational resources. Saxo excels with educational webinars available both live and on-demand, receiving a top rating of 5 stars for beginner education from UK.StockBrokers.com and securing the impressive rank of third among 18 brokers. In contrast, Halifax does not provide webinars and has a modest rating of 3.5 stars, ranking last in the same survey. However, neither platform currently offers specific educational content on share trading, funds, or retirement. These distinctions make Saxo a more appealing option for newcomers eager to learn through interactive and flexible online resources.
| 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 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.
| Feature |
Saxo
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Halifax
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| Mobile App |
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When comparing online brokers, both Saxo and Halifax do not offer crypto trading, making them equal in terms of cryptocurrency investment options.
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0 of 5| Overall Rating | Saxo | Halifax | |
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| 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 | |
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| 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 | |
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| Review | Saxo Review | Halifax Review | |
| Winner | check_circle |
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