When it comes to choosing an online broker, there are a few key considerations to take into account. In this eToro vs Saxo Bank comparison, we'll break down the fees, products and features offered by each company to help you decide which is the best fit for your needs.
eToro is a social trading and investment platform that allows users to copy the trades of other successful investors. eToro offers a wide range of assets including stocks, ETFs, commodities, cryptocurrencies and more. eToro is suitable for both beginner and experienced investors.
Saxo Bank is a Danish online investing and trading company. Saxo Bank offers a wide range of investment products including stocks, ETFs, bonds, commodities and more.
eToro vs Saxo Bank: Available Markets
eToro is the world's largest multi-asset brokerage with over 8,000 stocks, ETFs, commodities and other assets listed on their platform. They are also one of the few exchanges to also offer cryptocurrencies, with over 80 digital assets listed on their trading platform. Investors can also stake their cryptocurrencies on eToro to earn up to 15% interest paid out daily.
Saxo Bank has a more limited selection of markets with just over 3,000 stocks and ETFs available to trade. However, they do offer a wide range of other assets including bonds, commodities and more.
eToro vs Saxo Bank: Fees
eToro is a commission-free trading platform, meaning they do not charge and trading fees on trades on any asset available on their platform. That said, eToro does charge a small spread on each trade which averages at around 0.5%.
Saxo Bank charges a commission of 0.1% on all stock trades with a minimum fee of $4 per trade. Saxo Bank also charges an inactivity fee of $10 per month if you do not make at least one trade in 12 months.
eToro vs Saxo Bank: Security and Regulation
eToro is a regulated broker by the Cyprus Securities and Exchange Commission (CySEC), as well as the UK's Financial Conduct Authority (FCA). eToro is a member of the Investor Compensation Fund which protects up to €200,000 of eToro customer funds if eToro becomes insolvent.
Saxo Bank is a regulated broker by the Danish Financial Supervisory Authority (FSA) and is also a member of the Investor Compensation Fund which protects to €100,000 of Saxo Bank customer funds if Saxo Bank insolvent.
Both eToro and Saxo Bank are great options for European investors to get fast and easy access to a wide variety of financial markets. That said, eToro is the better platform when compared head-to-head based on our research. For more information on the exchange, you can read our extended eToro review.