Are you confused about whether to choose Saxo Bank vs DEGIRO as a broker for your investing needs?
In this side-by-side comparison, we analyse Saxo Bank vs DEGIRO 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!
Saxo Bank vs DEGIRO: In a Nutshell
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.
Low-cost trading from Europe
DEGIRO is a European low-cost brokerage firm that has become very popular due to its low rates! With over 2.5 million users, the platform has become widely known for its “do-it-yourself” philosophy.
It offers a wide range of financial assets to trade, including stocks, ETFs (check the list of free ETFs), bonds, options, futures contracts, warrants, investment funds, and some leveraged products.
The mobile app and web trading platform are basic but very efficient and straightforward to use. Some downsides are the absence of any significant fundamental research and the lack of pricing alerts.
Pros and Cons
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
DEGIRO
Pros
- List of commission-free ETFs available
- User-friendly web and mobile app
- Wide range of investment options
- Education material: Investor’s Academy and Investing with DEGIRO
- Low overall commission structure
- No account opening, inactivity, or withdrawal fee
Cons
- 0.25% currency conversion fee (charged if you deposit or invest in a different currency than your base currency)
- €/£1 flat handling fee (charged in most transactions)
- €/£2.50 of connectivity fee (paid annually), per exchange where you’re invested
- Does not offer Forex, CFDs, and Cryptos
- No demo account
- Little research
- Low-quality customer support
Saxo Bank vs DEGIRO: 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.
