Written by StockBrokers.com
In this head to head comparison of Interactive Brokers vs Saxo, 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, Interactive Brokers 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 - Interactive Brokers would cost £15 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year.
12 trades per year - Interactive Brokers would cost £36 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year.
36 trades per year - Interactive Brokers would cost £108 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year.
120 trades per year - Interactive Brokers would cost £360 per year, while Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year.
3 fund trades per year - Interactive Brokers would cost £0 per year, while Saxo 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 Interactive Brokers and Saxo for UK investors seeking diverse investment options, both platforms offer a comprehensive range of choices. Users can enjoy trading shares, ETFs, CFDs, funds, corporate bonds, government bonds (gilts), and investment trusts with either broker. However, neither Interactive Brokers nor Saxo currently supports cryptocurrency trading, spread betting, or advisory services. This makes both platforms quite similar in terms of available investment products, allowing investors to suitably diversify their portfolios through many traditional instruments.
Both brokers receive high praise for their investment variety. According to UK.StockBrokers.com, Interactive Brokers is rated 5 stars and secures the number two ranking among 18 brokers. However, Saxo slightly edges out Interactive Brokers by holding the top spot with the same 5-star rating for investment choices. As such, UK investors looking for a wide array of trading options will find either platform a credible choice, though Saxo holds a slight edge in rankings.
| Feature |
Interactive Brokers
|
Saxo
|
|---|---|---|
| Share Trading | Yes | Yes |
| CFD Trading | Yes | Yes |
| 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 | No |
| Investment Choices |
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Professional’s Gateway to the World’s Markets.
Low-cost US and UK shares.
When comparing Interactive Brokers and Saxo for trading tools, Interactive Brokers stands out by allowing users to display corporate events such as earnings, splits, and dividends directly on charts—an option not available with Saxo. Additionally, Interactive Brokers provides a more extensive array of 80 drawing tools and 96 technical indicators, compared to Saxo's 20 drawing tools and 64 technical indicators. Both platforms enable traders to add notes, index overlays, and stock overlays on their charts, ensuring versatility for different trading strategies.
Both Interactive Brokers and Saxo offer user-friendly browser-based trading platforms, as well as the ability to create alerts for stock price updates to keep traders informed. While Interactive Brokers does not offer real-time market data, Saxo fills this gap, providing immediate access to live market conditions. This contrast highlights Saxo's edge for traders prioritizing real-time information, despite the broader charting capabilities offered by Interactive Brokers.
| Feature |
Interactive Brokers
|
Saxo
|
|---|---|---|
| Web Platform | Yes | Yes |
| Stock Alerts | Yes | Yes |
| Charting - Indicators / Studies | 96 | 64 |
| Charting - Drawing Tools | 80 | 20 |
| Charting - Notes | Yes | Yes |
| Charting - Display Corporate Events | Yes | No |
| Charting - Stock Overlays | Yes | Yes |
| Charting - Index Overlays | Yes | Yes |
When comparing online brokers Interactive Brokers and Saxo for UK investors interested in retirement accounts, both platforms offer Individual Savings Accounts (ISAs) and Self-Invested Personal Pensions (SIPPs). This means that whether you choose Interactive Brokers or Saxo, you will have access to tax-efficient saving options that can help you plan for your retirement by allowing you to invest in a wide range of financial markets. Both companies provide these essential accounts, enabling you to make informed decisions on where best to build your retirement savings. With both brokers offering these key investment vehicles, your choice depends on other personal preferences and additional services each broker provides.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
For UK investors seeking mobile trading solutions, both Interactive Brokers and Saxo offer accessible options with apps available on iPhone and Android devices. When evaluated by UK.StockBrokers.com, both brokers earn a high rating of 5 out of 5 stars for their mobile apps. However, in a comparative ranking among 18 brokers, Saxo's mobile app edges ahead, securing the top position, while Interactive Brokers' app holds a commendable fourth place. This suggests that while both platforms provide excellent mobile trading experiences, Saxo may offer the slight edge in overall app performance and user experience.
Dive deeper: Best Stock Trading Apps UK.
When it comes to educational resources for beginner investors, both Interactive Brokers and Saxo offer client webinars that can be accessed on demand, making it convenient to learn at your own pace. While Interactive Brokers provides a wider range of educational content, including topics like share trading, funds, and retirement, Saxo does not cater to these specific areas. Despite this, Saxo is rated higher with a 5-star rating by UK.StockBrokers.com and holds a rank of #3 out of 18 brokers, compared to Interactive Brokers' 4.5-star rating and #8 rank. For UK beginners, Interactive Brokers may have an edge in content variety, but Saxo is seen as more favorable overall in terms of beginner education quality.
| Feature |
Interactive Brokers
|
Saxo
|
|---|---|---|
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Education (Share Trading) | Yes | No |
| Education (Funds) | Yes | No |
| Education (Retirement) | Yes | No |
| Education |
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Dive deeper: Best UK Trading Platforms for Beginners.
For UK investors seeking comprehensive market research tools, both Interactive Brokers and Saxo Bank present strong offerings. Each platform provides investors with detailed research reports for funds, allowing for informed investment decisions. Users can easily view portfolio allocation by asset class on both platforms, ensuring a clear overview of their investments. Both brokers also offer extensive research on shares, ETFs, funds, CFDs, and bonds, supporting a wide array of investment strategies. Whether you choose Interactive Brokers or Saxo Bank, you'll have access to a full suite of research features tailored to meet your investing needs.
| Feature |
Interactive Brokers
|
Saxo
|
|---|---|---|
| Research - Shares | Yes | Yes |
| Research - CFDs | Yes | Yes |
| Research - ETFs | Yes | Yes |
| Research - Bonds | Yes | Yes |
| Research - Funds | Yes | Yes |
| Fund Research - Research Reports | Yes | Yes |
| Portfolio Allocation Breakdown | Yes | Yes |
Which broker is better overall, Interactive Brokers or Saxo? After collecting more than 900 data points over a 10-week period, we found Interactive Brokers to be a better trading platform overall.
Interactive Brokers is a sophisticated trading platform aimed at confident and institutional-grade investors. For newer investors, Interactive Brokers is more intimidating, though it's worth exploring the platform to see if you could save money or access more investments compared to other brokers.
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Both Interactive Brokers and Saxo do not offer crypto trading options to their users.
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0 of 5| Overall Rating | Interactive Brokers | Saxo | |
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| Review | Interactive Brokers Review | Saxo Review | |
| Winner | check_circle |
| Investments | Interactive Brokers | Saxo | |
|---|---|---|---|
| ISA | Yes | Yes | |
| SIPP | Yes | Yes | |
| Share Trading | Yes | Yes | |
| CFD Trading | Yes | Yes | |
| 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 | Yes | No | |
| Advisor Services | No | No |
| Trading Fees | Interactive Brokers | Saxo | |
|---|---|---|---|
| Minimum Deposit | £0 | £0 | |
| Share Trading: 0-9 Deals/ Month | £3 | From £3 or 0.08% | |
| Share Trading: 10-19 Deals/ Month | £3 | From £3 or 0.08% | |
| Share Trading: 20+ Deals/ Month | £3 | From £3 or 0.08% | |
| 5 trades per year (£30k portfolio) | £15 | 0.12% + 0.08% (or £3) per trade: a minimum of £51 | |
| 12 trades per year (£30k portfolio) | £36 | 0.12% + 0.08% (or £3) per trade: a minimum of £72 | |
| 36 trades per year (£30k portfolio) | £108 | 0.12% + 0.08% (or £3) per trade: a minimum of £144 | |
| 120 trades per year (£30k portfolio) | £360 | 0.12% + 0.08% (or £3) per trade: a minimum of £396 | |
| 3 fund trades per year (£30k portfolio) | £0 / £14.85 | 0.4% + 0% commission: £120 | |
| Annual Custody Fee: £0 - £250,000 | £0 | Up to £800 | |
| Annual Custody Fee: £250K-£500K | £0 | £500 to £1,000 | |
| Annual Custody Fee: £500,000 - £1m | £0 | Up to £1,998 | |
| Annual Custody Fee: £1m and over | £0 | £1,000 | |
| Bonds - Corporate - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | €20 minimum | |
| Bonds - Government (Gilts) - Fee | 0.1% (for <10,000 EUR) 0.025% (for >10,000 EUR) | €20 minimum | |
| ETFs - Fee | £3 | From $1 | |
| Investment Trusts - Fee | N/A | From $1 / £3 / €10 | |
| Telephone Dealing Fee | £25 | £50 |
| Broker Screenshots | Interactive Brokers | Saxo | |
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| Education Gallery (click to expand) |
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| Platforms & Tools | Interactive Brokers | Saxo | |
|---|---|---|---|
| Web Platform | Yes | Yes | |
| iPhone App | Yes | Yes | |
| Android App | Yes | Yes | |
| Stock Alerts | Yes | Yes | |
| Charting - Indicators / Studies | 96 | 64 | |
| Charting - Drawing Tools | 80 | 20 | |
| Charting - Notes | Yes | Yes | |
| Charting - Display Corporate Events | Yes | No | |
| Charting - Stock Overlays | Yes | Yes | |
| Charting - Index Overlays | Yes | Yes |
| Research | Interactive Brokers | Saxo | |
|---|---|---|---|
| Research - Shares | Yes | Yes | |
| Research - CFDs | Yes | Yes | |
| Research - Funds | Yes | Yes | |
| Fund Research - Research Reports | Yes | Yes | |
| Research - ETFs | Yes | Yes | |
| Research - Bonds | Yes | Yes | |
| Portfolio Allocation Breakdown | Yes | Yes |
| Education | Interactive Brokers | Saxo | |
|---|---|---|---|
| Education (Share Trading) | Yes | No | |
| Education (Funds) | Yes | No | |
| Education (Retirement) | Yes | No | |
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Overall Summary | Interactive Brokers | Saxo | |
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| Review | Interactive Brokers Review | Saxo Review | |
| Winner | check_circle |
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