Saxo vs Webull 2024

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.

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, Saxo offers better pricing than Webull 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 Webull would cost 0.025% of trade value per year.

12 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £72 per year, while Webull would cost 0.025% of trade value per year.

36 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £144 per year, while Webull would cost 0.025% of trade value per year.

120 trades per year - Saxo would cost 0.12% + 0.08% (or £3) per trade: a minimum of £396 per year, while Webull would cost 0.025% of trade value per year.

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

Saxo requires a minimum deposit of £0, while Webull requires a minimum deposit of £0. From our testing we found for accounts between £0 - £250,000 Saxo charges annual custody fees of Up to £800, while Webull charges annual custody fees of £0.

Saxo offers investors access to ISA, SIPP, Share Trading, CFD Trading, Funds, ETFs, Bonds - Corporate, Bonds - Government (Gilts) and Investment Trusts, while Webull offers investors access to Share Trading. 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.

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 Webull offers traders access to neither of these accounts.

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 Webull offer crypto investing.

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

To compare the trading platforms of both Saxo and Webull, 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.

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 Webull offers access to Education (Share Trading) and Education (Funds). Neither have Education (Retirement).