Are you confused about whether to choose Nutmeg vs Saxo Bank as a broker for your investing needs?
In this side-by-side comparison, we analyse Nutmeg vs Saxo Bank to help you understand how these apps compare on some of the most common features and make a better-informed decision about the best broker for you.
Below, you’ll find the pros and cons of each broker, as well as a comparison table that features the different fees charged, the financial instruments supported, the regulation, and more. Keep reading!
Nutmeg vs Saxo Bank: In a Nutshell
Automated ETF portfolios for UK users
Nutmeg is one of the largest digital wealth managers in the UK (also known as “Robo-Advisor).
Nutmeg offers investors fully managed ETF portfolios that help investors achieve their financial goals, whether it’s for retirement or a home.
It is regulated by the Financial Conduct Authority (FCA). Besides, client assets are held in two custodians: Barclays and State Street, as per regulatory requirements.
Advanced traders with a focus on reliability and security
Saxo Bank is a renowned online trading and investment bank that offers a wide range of financial services to individual and institutional clients.
Saxo Bank offers a range of trading platforms, including SaxoTraderGO and SaxoTraderPRO, providing clients with user-friendly and advanced options to access global markets.
Security is a paramount concern for Saxo Bank, which is evident through its strong regulatory oversight, encryption protocols, and segregated accounts.
Pros and Cons
Nutmeg
Pros
- Automated rebalancing and dividend reinvestment
- Fees Transparency
- Stocks and shares, Lifetime and Junior ISAs
- Long performance track record (+10 years)
- Socially conscious portfolios
- Minimum account balance of £100
Cons
- Medium to high fixed fees
- Cannot buy single shares
Saxo Bank
Pros
- Excellent research materials
- Outstanding trading platforms (SaxoTraderPRO and SaxoTraderGO)
- Extensive range of investment products
- Long track record
- Supervised by worldwide top-tier regulators
Cons
- High minimum deposit ($2,000)
- Fees higher than average
- Fee structure is complex
- Does not accept US residents
Nutmeg vs Saxo Bank: Side-by-side Comparison
- General Information
- Founded in
- Demo Account
- Account Minimum
- Interest on unninvested cash (annually)
- Products
- Stocks
- ETFs
- Bonds
- Funds
- Options
- Futures
- CFDs
- Leverage Products
- Forex
- Cryptocurrencies
- Commodities
- Fees
- US stocks
- EU stocks
- ETFs
- Cryptocurrencies
- Custody Fee
- Inactivity Fee
- Withdrawal Fee
- Connectivity Fee
- Currency Conversion Fee
- Security
- Regulators
- Investor Compensation Scheme(per person, per institution)
Franklin is a CFA Level III Candidate with 3 years of experience in Wealth Management as a Fund Research Analyst and the Host of the "Edge Over Hedge" YouTube Channel.
