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Saxo vs Lloyds Bank 2024

StockBrokers.com

Written by StockBrokers.com

February 01, 2024

Is Saxo better than Lloyds Bank? After scoring the best share dealing accounts across 46 different variables, our analysis finds that Saxo is better than Lloyds Bank. Saxo Markets’ trading platform is highly sophisticated and offers a huge range of international shares and funds. The biggest downside is the cost, as its charges are higher than its U.K. competitors. It's best suited for experienced investors rather than beginners.

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Compare

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Overall Rating Saxo Lloyds Bank
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 3.5/5 Stars 4/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 3.5/5 Stars
Website 4.5/5 Stars 4/5 Stars
Ease of Use 3.5/5 Stars 4/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review Saxo Review Lloyds Bank Review
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Investments Saxo Lloyds Bank
ISA info Yes Yes
SIPP info Yes No
Share Trading info Yes Yes
CFD Trading info Yes No
Funds info Yes Yes
ETFs info Yes Yes
Bonds - Corporate info Yes Yes
Bonds - Government (Gilts) info Yes Yes
Investment Trusts info Yes Yes
Spread Betting info No No
Crypto Trading info No No
Advisor Services info No No
Trading Fees Saxo Lloyds Bank
Minimum Deposit info £0 £0
Share Trading: 0-9 Deals/ Month info 0.08% (£3 min) £8, £10, £11
Share Trading: 10-19 Deals/ Month info 0.08% (£3 min) £8
Share Trading: 20+ Deals/ Month info 0.08% (£3 min) £8
5 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £51 £40 - £95
12 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £72 £40 - £172
36 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £144 £40 - £412
120 trades per year (£30k portfolio) info 0.12% + 0.08% (or £3) per trade: a minimum of £396 £40 - £1084
3 fund trades per year (£30k portfolio) info 0.4% + 0% commission: £120 £40 - £44.50
Annual Custody Fee: £0 - £250,000 info 0.4% p.a. up to £200k; 0.2% p.a. after £200k £40
Annual Custody Fee: £250K-£500K info 0.2% p.a. £40
Annual Custody Fee: £500,000 - £1m info 0.2% p.a. £40
Annual Custody Fee: £1m and over info 0.1% p.a. £40
Bonds - Corporate - Fee info 0.20% £8, £10, £11
Bonds - Government (Gilts) - Fee info 0.20% £8, £10, £11
ETFs - Fee info 0.08% (£3 min) £8, £10, £11
Investment Trusts - Fee info £8 £8, £10, £11
Telephone Dealing Fee info £50 £35
Broker Screenshots Saxo Lloyds Bank
Website Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Platforms & Tools Saxo Lloyds Bank
Web Platform info Yes Yes
iPhone App info Yes Yes
Android App info Yes Yes
Stock Alerts info Yes No
Charting - Indicators / Studies info 64 0
Charting - Drawing Tools info 20 0
Charting - Notes info Yes No
Charting - Display Corporate Events info No No
Charting - Stock Overlays info Yes No
Charting - Index Overlays info Yes No
Research Saxo Lloyds Bank
Research - Shares info Yes Yes
Research - CFDs info Yes No
Research - Funds info No Yes
Fund Research - Research Reports info No No
Research - ETFs info Yes Yes
Research - Bonds info Yes Yes
Portfolio Allocation Breakdown info Yes No
Education Saxo Lloyds Bank
Education (Share Trading) info No No
Education (Funds) info No No
Education (Retirement) info No No
Client Webinars info Yes No
Client Webinars (Archived) info Yes No
Overall Summary Saxo Lloyds Bank
Overall Rating 4.5/5 Stars 4/5 Stars
Charges & Fees 3.5/5 Stars 4/5 Stars
Investment Choices 5/5 Stars 4.5/5 Stars
Mobile App 5/5 Stars 3.5/5 Stars
Website 4.5/5 Stars 4/5 Stars
Ease of Use 3.5/5 Stars 4/5 Stars
Education 5/5 Stars 3.5/5 Stars
Review Saxo Review Lloyds Bank Review
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Comparing online share dealing platforms side by side is no small task. For our 2024 review of U.K. brokers, more than 900 data points were collected over a 10-week period and used to score each broker. Let’s compare Saxo and Lloyds Bank.

Saxo vs Lloyds Bank Comparison

For our 2024 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Saxo vs Lloyds Bank.

Is Saxo a good broker?

Saxo Markets’ trading platform is highly sophisticated and offers a huge range of international shares and funds. The biggest downside is the cost, as its charges are higher than its U.K. competitors. It's best suited for experienced investors rather than beginners.

Is Lloyds Bank a good broker?

It's easy for current Lloyds Bank customers to open a Lloyds Bank Share Dealing investment account. But there are other platforms that are easier, more comprehensive and cheaper to use, including Halifax, which is also owned by Lloyds Banking Group.

Which broker is less expensive?

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, Lloyds Bank 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 - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £51 per year, while Lloyds Bank would cost £40 - £95 per year.

12 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year, while Lloyds Bank would cost £40 - £172 per year.

36 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year, while Lloyds Bank would cost £40 - £412 per year.

120 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year, while Lloyds Bank would cost £40 - £1084 per year.

3 fund trades per year - Saxo would cost £0 per year, while Lloyds Bank would cost £0 per year.

query_stats What type of trader are you?

New to the world of investing? See my picks for the best UK trading platforms for beginners. More experienced traders should check out my guide to the best UK Trading Platforms for Active Traders. If you're looking to trade shares on the go, read my guide to the best UK stock trading apps.

How do Saxo and Lloyds Bank compare in terms of minimum deposits required?

Saxo requires a minimum deposit of £0, while Lloyds Bank requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 Saxo charges annual custody fees of 0.4% p.a. up to £200k; 0.2% p.a. after £200k, while Lloyds Bank charges annual custody fees of £40.

Which broker offers a wider range of investment options?

Saxo offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while Lloyds Bank offers investors access to ISA, Share Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts. Neither have Spread Betting, Crypto Trading and Advisor Services. Investing encompasses a wide variety of asset classes, so finding a broker that offers every investment type you are interested in is important.

Do Saxo and Lloyds Bank offer ISA or SIPP accounts?

Self-invested personal pensions (SIPPs) and individual savings accounts (ISAs) are tax-advantaged savings accounts that are an important tool for many individual investors. You can read more about how these accounts operate at Gov.UK: Click here for SIPP information and here for ISA information. Our analysis finds that Saxo offers traders access to SIPP and ISA accounts, while Lloyds Bank offers traders access to ISA accounts.

Do Saxo and Lloyds Bank offer cryptocurrency?

In our analysis of top brokers for share dealing in the U.K., we research whether each broker offers the ability to trade cash cryptocurrency, such as bitcoin and ethereum, which is still a somewhat rare offering amongst major U.K. brokers. Our review finds that neither Saxo nor Lloyds Bank offer crypto investing.

Which broker offers a better website experience?

Our testing concluded that the website of Saxo is better than the website of Lloyds Bank. Saxo offers more functionality, is cleanly designed, and is, overall, easier to use for beginners and casual investors.

Which stock trading app is better?

To compare the trading platforms of both Saxo and Lloyds Bank, we tested each broker's stock trading app. All features compared, our analysis finds that Saxo offers a better mobile app. Dive deeper: Best Stock Trading Apps UK.

Do Saxo and Lloyds Bank offer educational resources?

Educational offerings are of particular importance to those who are newer to investing, and we examine the availability of several different types of educational materials in our analysis. Our research finds that Saxo offers traders access to Client Webinars and Client Webinars (Archived), while Lloyds Bank offers access to none. Neither have Education (Share Trading), Education (Funds) and Education (Retirement).

Overall winner: Saxo

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