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 looking to explore various asset classes, both Interactive Brokers and Saxo offer a wealth of options. Interactive Brokers provides opportunities in share trading, cryptocurrency, ETFs, CFDs, funds, corporate and government bonds, and investment trusts. Similarly, Saxo caters to investors with a diverse selection, also offering share trading, ETFs, CFDs, funds, corporate and government bonds, and investment trusts. Both brokers have been highly rated by UK.StockBrokers.com, each earning a perfect 5-star rating for their vast range of investment choices.
When viewing the rankings from UK.StockBrokers.com, Saxo edges out Interactive Brokers, holding the top spot out of 21 for investment choices, whereas Interactive Brokers is ranked just behind at number two. Despite the competition, both platforms stand out in facilitating an extensive array of investment options for UK traders, making them appealing choices for those seeking to diversify their portfolios.
| 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 | ||
| Crypto Trading | Yes | |
| Advisor Services | ||
| Investment Choices |
|
|
Low-cost US and UK shares.
Professional’s Gateway to the World’s Markets.
When it comes to trading tools offered by Interactive Brokers and Saxo in the UK, there are several features to consider. Interactive Brokers excels in charting capabilities, offering the ability to display corporate events such as earnings, splits, and dividends directly on charts. Saxo, however, does not provide this feature. In terms of charting tools, Interactive Brokers provides a more extensive selection with 80 drawing tools compared to Saxo's 20. The platform also offers a wider range of technical indicators, with 96 available, compared to Saxo's 64. Both platforms allow users to add notes, index overlays, and stock overlays to charts, enhancing the analytical experience.
For those who prefer web-based trading, both Interactive Brokers and Saxo offer browser-based platforms, ensuring flexibility and ease of access. When it comes to keeping track of stock movements, both brokers support creating alerts for stock price updates, which is a valuable tool for active traders. While Saxo provides real-time market data, Interactive Brokers’ real-time data offering is not specified. Overall, while both platforms offer comprehensive tools, Interactive Brokers stands out with its extensive charting features, making it a compelling choice for traders who prioritize in-depth analysis.
| 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 | |
| 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.
For UK beginner investors seeking educational resources, both Interactive Brokers and Saxo offer valuable options, including client webinars that are also available for on-demand viewing. Interactive Brokers provides educational content on share trading, funds, and retirement, while Saxo does not specify offerings in these areas. When it comes to independent reviews, Interactive Brokers holds a commendable rating of 4.5 stars for beginner education and ranks 8th out of 21 brokers, according to UK.StockBrokers.com. Meanwhile, Saxo shines with a full 5-star rating and ranks higher at 3rd place, making it a preferred choice for those just starting out in their investment journeys.
| Feature |
Interactive Brokers
|
Saxo
|
|---|---|---|
| Client Webinars | Yes | Yes |
| Client Webinars (Archived) | Yes | Yes |
| Education (Share Trading) | Yes | |
| Education (Funds) | Yes | |
| Education (Retirement) | Yes | |
| Education |
|
|
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
|
Saxo
|
|---|---|---|
| Overall Rating |
|
|
| Charges & Fees |
|
|
| Investment Choices |
|
|
| Mobile App |
|
|
| Website |
|
|
| Ease of Use |
|
|
| Education |
|
|
Interactive Brokers provides crypto trading options, setting it apart from Saxo, which does not offer crypto trading capabilities.
Select Brokers
↓×Compare
0 of 5| Overall Rating | Interactive Brokers | Saxo | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| 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 | |||
| Crypto Trading | Yes | ||
| Advisor Services |
| 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 | |
|---|---|---|---|
| Website Gallery (click to expand) |
|
| |
| Mobile Trading Apps Gallery (click to expand) |
|
| |
| Education Gallery (click to expand) |
|
|
| 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 | ||
| 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 | ||
| Education (Funds) | Yes | ||
| Education (Retirement) | Yes | ||
| Client Webinars | Yes | Yes | |
| Client Webinars (Archived) | Yes | Yes |
| Overall Summary | Interactive Brokers | Saxo | |
|---|---|---|---|
| Overall Rating |
|
| |
| Charges & Fees |
|
| |
| Investment Choices |
|
| |
| Mobile App |
|
| |
| Website |
|
| |
| Ease of Use |
|
| |
| Education |
|
| |
| Review | Interactive Brokers Review | Saxo Review | |
| Winner | check_circle |
Trading 212 Review
Interactive Brokers Review
Hargreaves Lansdown Review
XTB Review
IG Group Review
eToro Review
Saxo Review
CMC Invest Review
Freetrade Review
Halifax Review
Vanguard Review