To find a right broker for share dealing
, we spent seven months and hundreds of hours of assessing ten different share dealing brokers based in the UK. Here, we will focus on two brokers and compare Interactive Investor vs Saxo Capital Markets.
Our comparison begins with the fees charged for dealing shares in the UK and being a client. The two main charges to focus on include the cost to place each trade alongside the monthly, quarterly, or annual management fee charged (varies depending on the type and size of your portfolio). We researched both to provide a single star rating for cost. Interactive Investor is a better option with a 4.00 star rating over Saxo Capital Markets's 3.50 star rating.
Account charges aside, we can now compare features and tools investors want in their share dealing accounts. Access to the investments is important, and Saxo Capital Markets provides its clients with ISA and SIPP while Interactive Investor provides clients access to ISA, ISA - Junior, SIPP and Spread Betting. Also, some investors require a high-quality charting experience, so the number of drawing tools and total technical indicators made available, as well as stock alerts, are considered. Saxo Capital Markets offers its clients access to 17 charting tools while Interactive Investor has 0 charting tools, a difference of 17. Interactive Investor trails Saxo Capital Markets by 37 total different indicators (for example, moving averages), with Saxo Capital Markets offering 48 and Interactive Investor offering 11. Interactive Investor and Saxo Capital Markets both offer basic stock alerts. Lastly, for researching mutual funds while share dealing, being able to view a research report can be helpful. Interactive Investor has fund research reports, Saxo Capital Markets doesn't.
Overall, both Interactive Investor and Saxo Capital Markets share a rating of 4.50 stars. And, when it comes to individual category awards, Saxo Capital Markets was rated Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Interactive Investor was rated Best in Class - Research and Best in Class - Education.