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.
Both Interactive Brokers and Saxo offer a wide array of investment choices for their users, making them top contenders in the online brokerage space. Investors can enjoy share trading, ETF trading, CFD trading, and funds trading on both platforms. Additionally, they support trading of corporate bonds, government bonds, and investment trusts, offering multiple channels for portfolio diversification. However, neither Interactive Brokers nor Saxo provide crypto trading, spread betting, or advisory services, which might be a consideration for those seeking such options.
Despite these similarities, UK.StockBrokers.com ranks Saxo as the top broker out of 18 for investment choices, sharing a perfect five-star rating with Interactive Brokers, which closely follows as the second best. This suggests slight nuances in their service offerings or execution that could set Saxo marginally ahead in a competitive field. If you're weighing your options between these two highly-rated brokers, you'll find robust investment avenues with a slight edge favoring Saxo in overall 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 the trading tools offered by Interactive Brokers and Saxo, it's clear that both platforms have their strengths. Interactive Brokers stands out with its ability to display corporate events like earnings, splits, and dividends on charts, a feature that Saxo lacks. It also offers a comprehensive range of 80 drawing tools and 96 technical indicators for in-depth chart analysis, far exceeding Saxo's 20 drawing tools and 64 technical indicators. Both platforms allow users to add notes, index overlays, and stock overlays to charts. Additionally, each provides a browser-based trading platform to facilitate trading from any device.
In terms of real-time data offerings, Saxo has a distinct advantage over Interactive Brokers by providing real-time market data, which is crucial for traders seeking up-to-the-minute information. Both brokers also offer the ability to create stock price alerts, ensuring traders can stay updated with market movements. Overall, Interactive Brokers may appeal more to those looking for advanced analysis tools, while Saxo could be preferable for those prioritizing real-time market data access.
| 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 Interactive Brokers and Saxo for retirement account options, both platforms offer Individual Savings Accounts (ISA) and Self-Invested Personal Pensions (SIPP), making them credible choices for UK investors aiming to grow their retirement savings with tax advantages. Both Interactive Brokers and Saxo provide a comprehensive set of investment tools and international market access suitable for seasoned traders and beginners. As you evaluate your options, consider their respective fees, trading platforms, and customer support to ensure the best fit for your financial goals.
Dive deeper: Best SIPP Providers, Best Stocks and Shares ISA Providers.
Interactive Brokers and Saxo both offer highly rated mobile apps for iPhone and Android users, making it easy for investors to trade on the go. According to UK.StockBrokers.com, both apps receive stellar reviews, each earning a perfect 5-star rating for their performance and features. However, when it comes to overall rankings among 18 brokers, Saxo edges out the competition, securing the top spot for its mobile app, while Interactive Brokers follows closely at number two. This makes both platforms excellent choices for those seeking reliable and highly rated trading apps.
Dive deeper: Best Stock Trading Apps UK.
When comparing the educational resources for beginner investors offered by Interactive Brokers and Saxo, both platforms provide educational client webinars that can be accessed on demand, making learning convenient for users. Interactive Brokers excels with its comprehensive coverage on topics like share trading, funds, and retirement, which are not available with Saxo. Despite this, Saxo achieves a better overall beginner education rating of 5 stars, compared to Interactive Brokers’ 4.5 stars, and ranks 2nd out of 18 brokers, surpassing Interactive Brokers which is ranked 12th. This makes Saxo a preferred choice for beginners seeking highly rated educational resources, even though Interactive Brokers offers more in-depth material on specific topics.
| 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.
Interactive Brokers and Saxo both provide robust market research features that cater to diverse investor needs. Both platforms offer comprehensive research reports for funds, enabling users to make informed investment decisions. They also allow investors to view portfolio allocations by asset class, ensuring transparent insights into investment distribution. When it comes to research on various investment instruments, Interactive Brokers and Saxo leave no stone unturned, offering extensive resources for shares, ETFs, funds, CFDs, and bonds. This makes both brokers potent choices for investors seeking detailed and varied market research capabilities.
| 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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Saxo
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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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