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 it comes to investment options offered by online brokers, Saxo and Halifax both shine with diverse portfolios, but they cater to different kinds of investors. Saxo offers a wide range of products including share trading, ETFs, CFDs, funds, corporate bonds, government bonds, and investment trusts, however, it doesn't provide advisory services. On the other hand, Halifax excels in providing a similar variety, excluding CFD and share trading, but makes up for this gap by offering advisory services to guide your investment decisions.
Both brokers are rated five stars by UK.StockBrokers.com for their investment choices, reflecting their comprehensive offerings. Though Saxo, ranked #1, leads the pack out of 18 brokers for its investment choices, Halifax still holds a strong position with a ranking of #7. Whether you prioritize a broad trading spectrum or value expert guidance, both Saxo and Halifax present robust platforms for growing your investment portfolio.
| 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.
When weighing the trading tools offered by Saxo against those provided by Halifax, Saxo emerges as the more feature-rich platform. Saxo provides a comprehensive suite of 20 drawing tools and 64 technical indicators for chart analysis, while Halifax offers none in these categories. Both platforms support browser-based trading and the ability to create stock price alerts. However, Saxo goes further by allowing users to add notes, as well as index and stock overlays to charts, whereas Halifax lacks these features.
For those who rely on real-time market data, Saxo stands out by offering this crucial information, which Halifax does not provide. Additionally, while neither platform displays corporate events like earnings, splits, or dividends on their charts, Saxo's capabilities in technical analysis tools and real-time data make it a preferable choice for traders seeking robust charting and data functionalities. Halifax's offering might suffice for basic needs, but for enhanced trading capabilities, Saxo is the broker to consider.
| 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 |
When comparing online brokers Saxo and Halifax for retirement accounts, both offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs), making them viable options for UK investors looking to manage their retirement savings flexibly. Saxo and Halifax provide these popular investment accounts with the potential for tax efficiency, catering to those who want to maximize their retirement funds. The availability of ISAs and SIPPs from both brokers ensures that investors can benefit from tailored retirement planning solutions, while diversifying their portfolio in a way that suits their personal financial goals. This comparison highlights the similarity in offerings, emphasizing their adaptability to investor needs.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
When comparing the mobile trading experiences offered by Saxo and Halifax, both platforms provide apps for iPhone and Android users, making them accessible for a wide range of devices. However, Saxo takes the lead in terms of app quality, securing a top rank among 18 brokers with a 5-star rating from UK.StockBrokers.com for their superior mobile app experience. In contrast, Halifax's app is rated 3.5 stars and ranks 14th, indicating room for improvement in comparison to Saxo's highly acclaimed offering.
Dive deeper: Best Stock Trading Apps UK.
When comparing the educational resources for beginner investors offered by online brokers Saxo and Halifax, it's clear that Saxo provides a more comprehensive experience. Saxo stands out with its educational client webinars, which are not only available live but also archived for on-demand viewing, offering flexibility and convenience for learning at any pace. Halifax, on the other hand, does not provide webinars, limiting its educational outreach. Neither broker offers specialized education on topics such as share trading, funds, or retirement. However, Saxo's strong commitment to empowering novice investors is reflected in its 5-star rating and #2 ranking by UK.StockBrokers.com for beginner education. In contrast, Halifax receives a 3.5-star rating and ranks #16 out of 18 brokers, highlighting a significant gap in educational offerings for those new to investing.
| 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 the market research features between Saxo and Halifax, Saxo consistently offers more robust tools for investors. Saxo provides detailed research reports for funds, a feature Halifax lacks, making it more appealing for those keen on exploring fund investments deeply. Furthermore, Saxo allows users to view their portfolio allocation by asset class, providing a comprehensive overview that Halifax does not offer. Both brokers supply research on shares, ETFs, and funds, ensuring investors have access to essential information in these areas. Saxo extends its research capabilities to include CFDs, offering insights into this derivative that Halifax doesn't, while both platforms provide bonds research, enabling informed decision-making in this asset class. Overall, Saxo stands out with its extensive market research features, making it a superior choice for investors seeking comprehensive insights.
| 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 |
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Halifax
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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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