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 investment options available in the UK, both brokers provide a wide array of choices that cater to different trading preferences. Saxo offers services that include share trading, ETFs, and trading of CFDs, corporate bonds, government bonds (gilts), and investment trusts. For individuals seeking a platform that dives into diverse trading forms, Saxo proves to be a strong contender, even allowing for direct involvement in funds trading. However, those interested in additional support from advisor services might lean towards Halifax, which offers this feature along with comprehensive trading of shares, ETFs, corporate bonds, government bonds, and investment trusts.
Though Saxo stands out with a first-place ranking for investment choices on UK.StockBrokers.com, both Saxo and Halifax are esteemed, earning five stars for their range of investment options. The key difference for investors might ultimately rest on the specific services they value, such as advisor support from Halifax or a vast range of trading forms available with Saxo.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Share Trading | Yes | |
| CFD Trading | Yes | |
| ETFs | Yes | Yes |
| Funds | Yes | Yes |
| Bonds - Government (Gilts) | Yes | Yes |
| Investment Trusts | Yes | Yes |
| Spread Betting | ||
| Crypto Trading | ||
| Advisor Services | Yes | |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When comparing Saxo to Halifax for trading tools, Saxo demonstrates a comprehensive advantage. Saxo provides the ability to display corporate events such as earnings, splits, and dividends directly on charts, a feature unavailable with Halifax. For charting enthusiasts, Saxo offers 20 drawing tools and supports 64 technical indicators, while Halifax does not offer any. Saxo also enables users to add notes, index overlays, and stock overlays to their charts, maximizing the visual and analytical capabilities for traders, which Halifax lacks.
Both Saxo and Halifax share some common functionalities, like offering browser-based trading platforms and stock price alert features. However, Saxo stands out by providing real-time market data, a crucial feature not supported by Halifax. For traders seeking a more detailed and customizable charting experience, Saxo's offerings are notably superior. This makes Saxo a more appealing choice for those looking to access a wider range of trading tools and data insights.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 64 | 0 |
| Charting - Drawing Tools | 20 | 0 |
| Charting - Notes | Yes | |
| Charting - Display Corporate Events | ||
| Charting - Stock Overlays | Yes | |
| Charting - Index Overlays | Yes |
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.
When comparing Saxo to Halifax for beginner investor educational resources, Saxo emerges as the more favorable choice for UK readers. Saxo provides educational client webinars that are not only insightful but also conveniently archived for on-demand viewing. In contrast, Halifax's offerings in this area are not detailed. While education on share trading, funds, and retirement isn't specified for either broker, Saxo shines with a 5-star rating from UK.StockBrokers.com for beginner education, compared to Halifax's 3.5 stars. Furthermore, Saxo holds an impressive rank of #3 out of 21 brokers for beginner education, while Halifax lags behind at #18.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Client Webinars | Yes | |
| Client Webinars (Archived) | Yes | |
| Education (Share Trading) | ||
| Education (Funds) | ||
| Education (Retirement) | ||
| Education |
|
|
Dive deeper: Best UK Trading Platforms for Beginners.
When comparing the market research features of online brokers Saxo and Halifax for UK investors, Saxo stands out by providing comprehensive research reports for various financial products, including funds, shares, ETFs, CFDs, and bonds. It also offers insights into portfolio allocation by asset class, helping investors make informed decisions based on their investment distribution. On the other hand, Halifax delivers solid research options, particularly for shares, ETFs, and bonds, but lacks specific features such as research reports for funds and CFDs, as well as the ability to view portfolio allocation by asset class. These distinctions make Saxo a more inclusive platform for those seeking extensive market research capabilities.
| Feature |
Saxo
|
Halifax
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | |
| Portfolio Allocation Breakdown | Yes |
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
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Halifax
|
|---|---|---|
| Overall Rating |
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| Charges & Fees |
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| Mobile App |
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When comparing online brokers, Saxo stands out by offering crypto trading options, whereas Halifax does not provide crypto trading services.
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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 | ||
| CFD Trading | Yes | ||
| Funds | Yes | Yes | |
| ETFs | Yes | Yes | |
| Bonds - Corporate | Yes | Yes | |
| Bonds - Government (Gilts) | Yes | Yes | |
| Investment Trusts | Yes | Yes | |
| Spread Betting | |||
| Crypto Trading | |||
| Advisor Services | 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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| Website Gallery (click to expand) |
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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 | ||
| Charting - Display Corporate Events | |||
| Charting - Stock Overlays | Yes | ||
| Charting - Index Overlays | Yes |
| Research | Saxo | Halifax | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | ||
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | ||
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes |
| Education | Saxo | Halifax | |
|---|---|---|---|
| Education (Share Trading) | |||
| Education (Funds) | |||
| Education (Retirement) | |||
| Client Webinars | Yes | ||
| Client Webinars (Archived) | Yes |
| Overall Summary | Saxo | Halifax | |
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| Review | Saxo Review | Halifax Review | |
| Winner | check_circle |
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