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Saxo Bank vs Hargreaves Lansdown: 2023 Comparison

Franklin Carneiro da Silva| Updated: August 22, 2023

Are you confused about whether to choose Saxo Bank vs Hargreaves Lansdown as a broker for your investing needs?

In this side-by-side comparison, we analyse Saxo Bank vs Hargreaves Lansdown 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 Hargreaves Lansdown: In a Nutshell

Saxo
Visit Saxo BankAsset 3
Ideal for
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.

Saxo Bank vs Hargreaves Lansdown: 2023 Comparison 1
Visit Hargreaves LansdownAsset 3
Ideal for
Reliability and security (UK investors only)

Hargreaves Lansdown is one of the biggest UK platforms for individual investors. It serves more than 1.5 million clients with over £120 billion AUMs.

You will find the most relevant financial instruments (Stocks, ETF, funds,…). It’s a bit pricey, but it makes up for it by being one of the most reliable brokers.

It is well-established, secure and regulated by the FCA. The customer service is market-leading, and their educational resources are superb.

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

Hargreaves Lansdown

Pros

  • Excellent research and educational tools
  • Great customer service
  • No inactivity fee
  • No withdrawal fee
  • No minimum deposit
  • High reliability and security
  • Listed in the FTSE 100 index
  • Has ISA, SIPP, and other products and services catered to british investors

Cons

  • High trading commissions (UK and overseas shares, investment trusts, ETFs, gilts and bonds)
  • Annual account charges for funds (up to 0.45%)
  • No demo account
  • Only one base currency: GBP
  • High currency conversion fee (up to 1%)

Saxo Bank vs Hargreaves Lansdown: Side-by-side Comparison

Saxo
Saxo Bank vs Hargreaves Lansdown: 2023 Comparison 2
  •  
  • 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)
  • Saxo BankAsset 3
  • General Information
  • Founded in1992
  • Demo Account
  • Account Minimum$0 to $10,000, depending on the country**$/€2,000 for international accounts; £500 (UK)
  • Interest on unninvested cash (annually)USD: Up to 4.31%; EUR: Up to 2.55%
  • Products
  • Stocks
  • ETFs
  • Bonds
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies*Only 9 Crypto FX pairs
  • Commodities
  • Fees
  • US stocksFrom $0.01, $0.015 or $0.02 per share**Min. $1, $5 or $7, depending on account type: VIP, Platinum, Classic
  • EU stocksBetween 0.05% and 0.35%**Min. between €6 and €12 depending on exchange and account type
  • ETFsFrom $1**Depending on exchange and account type
  • Cryptocurrencies-
  • Custody FeeMin. $5**Between 0.05% and 0.15% depending on account type
  • Inactivity Fee£25 (UK) after one quarter of inactivity, $150 after 6 months of inactivity (International)
  • Withdrawal Fee€/$/£0
  • Connectivity Fee€/$/£0
  • Currency Conversion FeeBetween 0.3% and 1.0%**Depending on account type
  • Security
  • RegulatorsASIC, FSA, FCA, SFC, MAS, FINMA, DFSA.
  • Investor Compensation Scheme(per person, per institution)

    Depends on where the account is opened: up to €100,000 for cash and €20,000 for securities (Europe); up to £85,000 (UK); CHF 100,000 (Switzerland); HKD 500,000 (Hong Kong)

  • Hargreaves LansdownAsset 3
  • General Information
  • Founded in1981
  • Demo Account
  • Account Minimum£0
  • Interest on unninvested cash (annually)GBP: Up to 5.55%
  • Products
  • Stocks
  • ETFs
  • Bonds*+ Gilts
  • Funds
  • Options
  • Futures
  • CFDs
  • Leverage Products
  • Forex
  • Cryptocurrencies
  • Commodities
  • Fees
  • US stocks£11.95**From +9 trades/monthly, it may reduce to £5.95
  • EU stocks£11.95**From +9 trades/monthly, it may reduce to £5.95
  • ETFs£11.95**From +9 trades/monthly, it may reduce to £5.95
  • CryptocurrenciesNot Applicable
  • Custody Fee£0**0.45% on the value of funds - on the first £250,000
  • Inactivity Fee£0
  • Withdrawal Fee£0
  • Connectivity Fee£0
  • Currency Conversion Fee1.00%**First £5,000 (From £25,000, it reduces to 0.25%)
  • Security
  • RegulatorsFCA
  • Investor Compensation Scheme(per person, per institution)

    Up to £85,000.

Saxo Bank vs Hargreaves Lansdown: Verdict

To summarise, here’s our verdict:

Saxo Bank Best for advanced traders with a focus on reliability and security
Hargreaves Lansdown Best for reliability and security (UK investors only)

Choosing between these two online brokers isn’t always an obvious decision. The differences between Saxo Bank vs Hargreaves Lansdown come from the trading platforms, products, fees, and security. Do you prefer a primary trading platform? Do you want to invest in ETFs only? Do you value security more?

Ultimately, the best online broker for you will depend on your profile, personal preferences, and objectives. Explore the websites above and decide for yourself!

Want to know more about Saxo Bank vs Hargreaves Lansdown? Explore our in-depth broker reviews, comparison table, and finder tool.

Feel free to leave your comments and feedback in the comments below – we’re happy to help!

Franklin Carneiro da Silva
Co-Founder & Fintech Analyst

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.

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