Saxo Markets vs Hargreaves Lansdown 2023

Saxo Markets offers a well-functioning platform with an array of investment opportunities featuring over 30,000 international products to trade across 40 global exchanges. The one downside is pricing, which is high.

Hargreaves Lansdown has a wide range of sophisticated research accompanied by a comprehensive selection of investment options and a user-friendly mobile app. However, pricing is expensive, the charting tools are average and educational resources are only in line with industry standards.

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, Saxo Markets offers better pricing than Hargreaves Lansdown 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 Markets would cost £142 per year, while Hargreaves Lansdown would cost £59.75 per year.

12 trades per year - Saxo Markets would cost £198 per year, while Hargreaves Lansdown would cost £143.4 per year.

36 trades per year - Saxo Markets would cost £390 per year, while Hargreaves Lansdown would cost £430.2 per year.

120 trades per year - Saxo Markets would cost £1062 per year, while Hargreaves Lansdown would cost £1074 per year.

3 fund trades per year - Saxo Markets would cost 500 per year, while Hargreaves Lansdown would cost 1 per year.

Saxo Markets requires a minimum deposit of £500, while Hargreaves Lansdown requires a minimum deposit of £1. From our testing we found for accounts between £0 - £250,000 Saxo Markets charges annual custody fees of 0.12% (min. €120 or £ equivalent), while Hargreaves Lansdown charges annual custody fees of 0.45%.

Saxo Markets offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while Hargreaves Lansdown offers investors access to ISA, SIPP, Share Trading, 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.

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 Markets and Hargreaves Lansdown offer SIPP and ISA accounts.

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 Markets and Hargreaves Lansdown offer crypto investing.

Our testing concluded that Hargreaves Lansdown is better for research than Saxo Markets. Hargreaves Lansdown offers more research options, including research reports, articles, and analyst ratings.

To compare the trading platforms of both Saxo Markets and Hargreaves Lansdown, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, our analysis finds that Saxo Markets offers a better share dealing platform and Saxo Markets offers a better stock app for mobile trading.

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 Markets offers traders access to Client Webinars, Client Webinars (Archived) and Has Education - Share Trading, while Hargreaves Lansdown offers access to Client Webinars, Has Education - Share Trading, Has Education - Funds and Has Education - Retirement.