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Saxo Markets vs Lloyds Bank 2022

StockBrokers.com

Written by StockBrokers.com

November 17, 2022

Is Saxo Markets better than Lloyds Bank? After scoring the best share dealing accounts across 46 different variables, Interactive Brokers is better than Saxo Markets. Professional traders are brilliantly serviced with the tools and capabilities of Interactive Brokers. Less-experienced traders benefit from the low commissions and excellent research available in the web-based Client Portal platform.

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Overall RatingSaxo MarketsLloyds BankInteractive Brokers
Overall Rating4.5 Stars3.5 Stars4.5 Stars
Commissions & Fees3 Stars3 Stars4.5 Stars
Offering of Investments5 Stars4 Stars4.5 Stars
Mobile Trading5 Stars3.5 Stars4.5 Stars
Platforms & Tools5 Stars3 Stars4.5 Stars
Research4.5 Stars4 Stars5 Stars
Ease of Use4.5 StarsN/A4 Stars
Education4 Stars3.5 Stars3.5 Stars
ReviewSaxo Markets ReviewInteractive Brokers Review
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InvestmentsSaxo MarketsLloyds BankInteractive Brokers
ISAYesYesYes
SIPPYesYesYes
Share TradingYesYesYes
CFD TradingYesNoYes
FundsYesYesYes
ETFsYesYesYes
Bonds - CorporateYesYesYes
Bonds - Government (Gilts)YesYesYes
Investment TrustsYesYesYes
Spread BettingNoNoYes
Crypto TradingNoNoYes
Advisor ServicesNoYesNo
Trading FeesSaxo MarketsLloyds BankInteractive Brokers
Minimum Deposit£500.0£0.0£0.0
Share Trading: 0-9 Deals/ Month0.10% (£8 min)£8 to 11£3
Share Trading: 10-19 Deals/ Month0.10% (£8 min)£8£3
Share Trading: 20+ Deals/ Month0.10% (£8 min)£8£3
5 trades per year (£30k portfolio)£142£47.5£15
12 trades per year (£30k portfolio)£198£172£36
36 trades per year (£30k portfolio)£390£436£108
120 trades per year (£30k portfolio)£1062£1000£360
3 fund trades per year (£30k portfolio)£126£44.5£24.75
Annual Custody Fee: £0 - £250,0000.12% (min. €120 or £ equivalent)£40 (flat)0%
Annual Custody Fee: £250K-£500K0.12% (min. €120 or £ equivalent)£400%
Annual Custody Fee: £500,000 - £1m0.12% (min. €120 or £ equivalent)£400%
Annual Custody Fee: £1m and over0.12% (min. €120 or £ equivalent)£400%
Bonds - Corporate - Fee0.20% (min. EUR20)£110.1% (for <10,000 EUR) 0.025% (for >10,000 EUR)
Bonds - Government (Gilts) - Fee0.20% (min. EUR20)£110.1% (2 euro min)
ETFs - Fee0.10% (£8 min)£11£3
Investment Trusts - Fee0.10% (£8 min)£11£4.95
Telephone Dealing Fee£50£2530 USD
Platforms & ToolsSaxo MarketsLloyds BankInteractive Brokers
Web PlatformYesYesYes
iPhone AppYesYesYes
Android AppYesYesYes
Stock AlertsYesYesYes
Charting - Indicators / Studies628398
Charting - Drawing Tools201784
Charting - NotesYesYesYes
Charting - Display Corporate EventsNoNoYes
Charting - Stock OverlaysYesNoYes
Charting - Index OverlaysYesNoYes
ResearchSaxo MarketsLloyds BankInteractive Brokers
Research - SharesYesYesYes
Research - CFDsYesYesYes
Research - FundsYesYesYes
Fund Research - Research ReportsNoNoNo
Research - ETFsYesYesYes
Research - BondsYesYesYes
Portfolio Allocation BreakdownYesYesYes
EducationSaxo MarketsLloyds BankInteractive Brokers
Has Education - Share TradingYesYesYes
Has Education - FundsNoYesNo
Has Education - RetirementNoYesYes
Client WebinarsYesYesYes
Client Webinars (Archived)YesYesYes
Overall SummarySaxo MarketsLloyds BankInteractive Brokers
Overall Rating4.5 Stars3.5 Stars4.5 Stars
Commissions & Fees3 Stars3 Stars4.5 Stars
Offering of Investments5 Stars4 Stars4.5 Stars
Mobile Trading5 Stars3.5 Stars4.5 Stars
Platforms & Tools5 Stars3 Stars4.5 Stars
Research4.5 Stars4 Stars5 Stars
Ease of Use4.5 StarsN/A4 Stars
Education4 Stars3.5 Stars3.5 Stars
ReviewSaxo Markets ReviewInteractive Brokers Review
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  • check_box_outline_blankcheck_boxInteractive Brokers
  • check_box_outline_blankcheck_boxInteractive Investor
  • check_box_outline_blankcheck_boxLloyds Bank
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  • check_box_outline_blankcheck_boxTrading 212
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Saxo Markets vs Lloyds Bank Comparison

For our 2022 Review, we assessed the best trading platforms in the UK for online share dealing. Let's compare Saxo Markets vs Lloyds Bank.

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, Interactive Brokers offers better pricing than Saxo Markets 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 Markets would cost £142 per year, while Lloyds Bank would cost £47.5 per year.

12 trades per year - Saxo Markets would cost £198 per year, while Lloyds Bank would cost £172 per year.

36 trades per year - Saxo Markets would cost £390 per year, while Lloyds Bank would cost £436 per year.

120 trades per year - Saxo Markets would cost £1062 per year, while Lloyds Bank would cost £1000 per year.

3 fund trades per year - Saxo Markets would cost £126 per year, while Lloyds Bank would cost £44.5 per year.

Which broker offers a wider range of investment options?

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

Which broker offers better research?

Our testing concluded that Interactive Brokers is better for research than Saxo Markets. Interactive Brokers offers more research options, including research reports, articles, and analyst ratings.

Which trading platform is better?

To compare the trading platforms of both Saxo Markets and Lloyds Bank, we tested each broker's website, trading platform, trading tools and stock trading app. All features compared, Saxo Markets offers a better share dealing platform and Saxo Markets offers a better stock app for mobile trading.

Overall winner: Interactive Brokers

Read Next: Best UK Trading Platforms 2022


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