Our UK.StockBrokers.com team spent seven months and hundreds of hours assessing ten different share dealing accounts
for buying shares online in the UK. In total, 124 individual variables were assessed. For this review, we will compare Lloyds Bank vs Saxo Capital Markets.
To start this comparison, first, we will take a look at the fees charged for dealing in the UK. It's important to note that not only is there the cost to place the trade, but most share dealing brokers also charge a monthly, quarterly, or annual management fee depending on the type and size of your portfolio. We assessed both to provide a single star rating for cost. Lloyds Bank received a rating of 4.00 stars over Saxo Capital Markets's 3.50 stars.
Cost aside, we can now turn our focus to popular tools and features investors prefer in the UK. Account access is certainly at the top of the list, and Lloyds Bank alongside Saxo Capital Markets offer clients ISA and SIPP. Looking at charting, the number of drawing tools and total technical indicators made available are important as well as stock alerts. Saxo Capital Markets boasts an offering of 17 charting tools compared to Lloyds Bank's 1 available charting tools. Lloyds Bank trails Saxo Capital Markets by 5 total different indicators (for example, moving averages), with Saxo Capital Markets offering 48 and Lloyds Bank offering 43. Lloyds Bank and Saxo Capital Markets both offer basic stock alerts. Finally, for conducting research while share dealing, having access to mutual fund research reports is also helpful. Neither Lloyds Bank and Saxo Capital Markets offer fund research reports.
Overall, Saxo Capital Markets comes out on top with 4.50 stars over Lloyds Bank's 3.00 stars. And, when it comes to individual category awards, Saxo Capital Markets finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Lloyds Bank came up with none of these.