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.
For UK investors, both Interactive Brokers and Saxo provide an extensive array of investment options. Both platforms cater to share trading, ETFs, CFDs, funds, corporate bonds, government bonds (gilts), and investment trusts, offering a comprehensive range of choices for diverse investment strategies. However, Interactive Brokers stands out by providing crypto trading, an option currently unavailable through Saxo. Neither platform offers spread betting or advisor services, leaving some traders to seek alternate solutions for these needs.
According to UK.StockBrokers.com, both brokers boast a five-star rating for their investment choices. Nonetheless, when it comes to overall rankings for investment choices, Saxo takes the top spot at #1, while Interactive Brokers is close behind at #2 out of 21 brokers. This suggests that while Interactive Brokers offers the added crypto trading option, Saxo edges ahead with slightly higher rankings, perhaps reflecting subtle differences in other areas of their service offerings.
| 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 | Yes | No |
| Advisor Services | No | No |
| Investment Choices |
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Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
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 a mobile trading platform, both Interactive Brokers and Saxo offer convenient solutions with apps available for iPhone and Android devices. Their mobile applications have garnered top ratings from UK.StockBrokers.com, both earning an impressive five-star assessment. However, when delving into rankings among 21 evaluated brokers, Saxo clinches the top spot for mobile apps, while Interactive Brokers secures the fourth position. Whether prioritizing app features or overall industry ranking, both services present excellent options for the discerning trader.
Dive deeper: Best Stock Trading Apps UK.
UK-based beginner investors looking to choose between Interactive Brokers and Saxo for educational resources have a few key points to consider. Both platforms offer client webinars that are also available on-demand, providing convenience for users. Interactive Brokers stands out with its education in share trading, funds, and retirement, topics Saxo lacks. However, Saxo is rated slightly higher for beginner education with a 5-star rating, compared to Interactive Brokers’ 4.5 stars. In rankings by UK.StockBrokers.com out of 21 brokers, Saxo takes the third spot, whereas Interactive Brokers is ranked eighth. Thus, while both brokers offer valuable resources, the choice may depend on specific educational needs in areas such as share trading and retirement.
| 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.
| Feature |
Interactive Brokers
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Saxo
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| Mobile App |
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Interactive Brokers stands out from Saxo by offering crypto trading, a feature not available with Saxo, making it a preferable choice for investors interested in digital currencies.
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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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| Website Gallery (click to expand) |
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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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