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eToro vs Saxo
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Updated:
Compare eToro vs Saxo Side by Side
Don’t know which broker eToro or Saxo to choose to suit your trading needs? Explore our comprehensive eToro Review and Saxo Review comparison guide. We examined deeply the critical aspects you need to consider, such as safety protocols, licensing, trading terms, and fee structures, as well as evaluated platforms and instruments available by comparing them side by side.
Summary
| Feature | eToro | Saxo |
|---|---|---|
| Website | //www.etoro.com | //www.home.saxo |
| Founded year | 2006 | 1992 |
| Headquarter | Israel | Denmark |
| Licenses | UK, Australia, Cyprus, Seychelles | Denmark, Australia, UK, Singapore, UAE, Japan, Hong Kong |
| Minimum Deposit | 50 US$ | 2000 US$ |
| Trading Platforms | eToro platform | SaxoTraderGO, SaxoTraderPRO, MT4 |
| Eurusd avg Spread | 0.97 pip | 0.8 pips |
Licenses
| Feature | eToro | Saxo |
|---|---|---|
| Licenses Countries Info (short) |
|
|
Both eToro and Saxo are regulated brokers enjoying high reputations in the trading community. Both brokers operate under a stricter regulatory framework, governed by top-tier authorities in the UK and Australia, presenting a more secure environment for traders. Additionally, Saxo holds licenses in Japan and Denmark
Broker Types
| Feature | eToro | Saxo |
|---|---|---|
| Broker types |
|
|
Both eToro vs Saxo operate as Market Maker Brokers, which means it facilitates trading by acting as the counterparty to its clients’ trades and offers unique features such as social trading.
Trading Conditions
| Feature | eToro | Saxo |
|---|---|---|
| Trading Conditions |
|
|
eToro vs Saxo provide relatively similar trading conditions both being suitable for beginners and offering low spreads to its traders and giving them opportunities to use different trading strategies, however, eToro puts restrictions on scalping, hence for scalpers, Saxo might be a preferable choice.
Fees & Commissions
| Fees & Commissions | eToro | Saxo |
|---|---|---|
| Inactivity Feemonth | $10 | up to 150 $ |
| Deposit fee | 0$ | 0 $ |
| Withdrawal fee | 5$ | 0 $ |
| Rollover fee eurusd buy 1 lot | -0.00008269 | -0.60% |
| Rollover fee eurusd sell 1 lot | 0.00001841 | +0.60% |
| Avg Eurusd standard acc | 0.97 pip | 0.8 pips |
| Gold | 4.5 | 27 |
| Brent oil | 5 | 5 |
| Bitcoin | 102.71 | 115 |
eToro offers a better fee structure although it charges withdrawal and inactivity fees, while Saxo charges up to $150 inactivity fee. Both brokers offer comparatively low spreads than the industry average for EUR/USD which is 1.2 pips
Account Types
| Feature | eToro | Saxo |
|---|---|---|
| Account types |
|
|
Both brokers eToro vs Saxo offer Standard accounts, and Saxo account range is more diverse offering multiple accounts each tailored to different trading needs. While eToro account types are geared towards different level of expertise and additional corporate requirements. Also, Muslim traders might prefer eToro since it offers Islamic accounts for traders following Sharia laws.
Markets & Instruments
| Markets & Instruments | eToro | Saxo |
|---|---|---|
| Forex | 52 | 180+ |
| Indices | 21 | 29 |
| Commodities | 32 | 19 |
| Cryptocurrencies | 74 | 2 |
| Shares | 3203 | 9,000+ |
| Bonds | ❌ | 40,000+ |
| Options | ❌ | ❌ |
| Binary options | ❌ | ❌ |
| Spread betting | ❌ | ❌ |
| Treasuries | ❌ | ❌ |
| Futures | ❌ | ❌ |
| Etfs | 325 | 3,000+ |
Trading instruments offered by both eToro vs Saxo are quite limited, which makes them similar. The number of the assets offered is also small for both brokers. The only advantage is probably that eToro has the advantage in the number of crypto trading offerings over 70 cryptocurrencies to trade
Trading Platforms
| Feature | eToro | Saxo |
|---|---|---|
| Platforms |
|
|
Both brokers eToro vs Saxo offer their proprietary platforms tailored to their users with unique features, while eToro offers only one proprietary platform which is more catered to beginners and is not that sophisticated, Saxo offers two different platforms for various trading needs.
Deposit & Withdrawal Methods
| Feature | eToro | Saxo |
|---|---|---|
| Payment methods |
|
|
eToro facilitates a broader range of funding methods, including credit/debit cards and multiple e-wallets, affording traders a flexible approach to account management. While Saxo offers only credit/debit card deposits.
Others
| Feature | eToro | Saxo |
|---|---|---|
| Others |
|
|
Both eToro and Saxo brokers are highly proficient in delivering outstanding customer support through telephone, live chat, and email channels with a 24/5 availability. Education-wise, Saxo has a better range of resources particularly suitable for beginner traders, while eToro offers simple trading education resources for beginner traders.
Conclusion on Saxo vs eToro
Concluding eToro vs Saxo comparison we found both brokers deliver reliable trading solutions and overall are trustworthy. The offers of these brokers are quite similar, providing similar trading conditions and fees. For scalpers, Saxo emerges as the more suitable option given eToro’s restrictions on scalping activities. While eToro might be a better choice for crypto trades due to its vast variety of crypto assets. Also, Saxo has a stronger regulatory background and a better education giving an advantage to its trades and to the broker itself. Here is our final recommendation:
- eToro — 🥇Best Broker for Crypto Trading for a number of top traders and Best Industry Social Trading Broker
- Saxo –
Best Broker for Retail Traders providing the same access and features as an institution or organization.
