United States
United Kingdom
Germany
Netherlands
Australia
United Arab Emirates
Canada
Italy
Spain
Austria
Croatia
Serbia
Portugal
CypruseToro vs Saxo
What each one charges, who licenses it, and how they rank against each other country by country.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The short version
We rank both for CFDs in 3 countries, and Saxo comes out ahead in every one of them.
We score each country separately, based on the company that would actually hold your account there, so check your own country in the table below.
Of the 2 fees we could compare, Saxo is cheaper on 1 and the other is the same.
Both hold top-tier (tier-1) licences: eToro from FCA, ASIC, SEC / FINRA and NYDFS, Saxo from FCA, MAS, SFC, FINMA and Danish FSA.
- Neither charges an inactivity fee.
- Saxo doesn't charge a withdrawal fee; eToro charges up to $5.Edge: Saxo
- We list eToro in 12 of the 14 countries we cover and Saxo in 3. They overlap in 3.Edge: eToro
- Only eToro offers crypto.
- Only Saxo offers forex.
- Only Saxo supports TradingView.
- eToro gets more search attention than Saxo (Market Signal 71 vs 67). That tells you how well known it is, not how good it is.
Where you can use each one
Where each one ranks on our list in every country we cover, its Coinish Score there, and the company that would hold your account. If a broker isn't allowed to take clients from a country, it isn't on that country's list.
CFD brokers
| Country | eToro | Saxo |
|---|---|---|
| Netherlands | #3 of 3072/100EU passport eToro (Europe) Ltd · CySEC | #2 of 3077/100EU passport Saxo Bank A/S · Danish FSA |
| United Arab Emirates | #3 of 1272/100Locally licensed eToro (ME) Limited · FSRA (ADGM) | #2 of 1275/100Locally licensed Saxo Bank (Dubai) Limited · DFSA |
| United Kingdom | #3 of 1874/100Locally licensed eToro (UK) Ltd · FCA | #1 of 1878/100Locally licensed Saxo Capital Markets UK Ltd · FCA |
| Australia | #2 of 1873/100Locally licensed eToro AUS Capital Limited · ASIC | Not listed |
| Austria | #2 of 3072/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Croatia | #1 of 2872/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Cyprus | #1 of 3072/100Locally licensed eToro (Europe) Ltd · CySEC | Not listed |
| Germany | #2 of 3172/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Italy | #2 of 3372/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Portugal | #2 of 3172/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Spain | #2 of 3172/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
Stock brokers & investing apps
| Country | eToro | Saxo |
|---|---|---|
| Netherlands | #2 of 1071/100EU passport eToro (Europe) Ltd · CySEC | #1 of 1076/100EU passport Saxo Bank A/S · Danish FSA |
| United Arab Emirates | #2 of 671/100Locally licensed eToro (ME) Limited · FSRA (ADGM) | #1 of 674/100Locally licensed Saxo Bank (Dubai) Limited · DFSA |
| United Kingdom | #3 of 773/100Locally licensed eToro (UK) Ltd · FCA | #1 of 776/100Locally licensed Saxo Capital Markets UK Ltd · FCA |
| Australia | #4 of 873/100Locally licensed eToro AUS Capital Limited · ASIC | Not listed |
| Austria | #1 of 871/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Croatia | #1 of 871/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Cyprus | #1 of 971/100Locally licensed eToro (Europe) Ltd · CySEC | Not listed |
| Germany | #1 of 1271/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Italy | #1 of 1171/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Portugal | #1 of 971/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| Spain | #1 of 971/100EU passport eToro (Europe) Ltd · CySEC | Not listed |
| United States | #4 of 973/100Locally licensed eToro USA Securities Inc. · SEC / FINRA | Not listed |
Fees and features side by side
| eToro | Saxo | |
|---|---|---|
| Products | Stocks & ETFs, CFDs, Crypto, Copy trading | Forex, CFDs, Stocks & ETFs, Options, Futures |
| Owner | eToro Group Ltd (listed on Nasdaq) | Saxo Bank A/S |
| EUR/USD all-in cost | Not verified yet | Not verified yet |
| US stock commission | $2 per order | Not verified yet |
| Crypto trading fee | 1%, app fee per trade (no order book) | Not verified yet |
| Currency conversion fee | Not verified yet | 0.25% |
| Inactivity fee | None | None |
| Withdrawal fee | Up to $5 | None |
| Minimum deposit | $50 (eToro USA Securities Inc.) | $0 (Saxo Capital Markets UK Ltd) · €0 (Saxo Bank A/S) |
| Instruments | 10,000+ | 71,000+ |
| Fractional shares | Yes | Not verified yet |
| Platforms | eToro web platform, eToro mobile app | SaxoTrader, SaxoInvestor, TradingView |
| Deposit methods | Bank transfer, Credit/debit card, Trustly (online banking), SEPA transfer | Domestic bank transfer, Debit card |
| Withdrawal time (stated) | status email within 2 business days; up to 10 business days by method | next business day (requests before 13:00 GMT, domestic transfer) |
| Demo account | Yes | Yes |
| Support | Not verified yet | email, phone · 24/5 |
Every figure comes from the broker's own pages or its regulator. You'll find the sources in each review (eToro, Saxo).
Licences
eToro
- eToro (Europe) Ltd: CySEC (Tier 2)
- eToro (UK) Ltd: FCA (Tier 1)
- eToro AUS Capital Limited: ASIC (Tier 1)
- eToro USA Securities Inc.: SEC / FINRA (Tier 1)
- eToro (Seychelles) Ltd: FSA Seychelles (Tier 3 (offshore))
- eToro NY LLC: NYDFS (Tier 1)
- eToro (ME) Limited: FSRA (ADGM) (Tier 2)
eToro vs Saxo: common questions
Which is better, eToro or Saxo?
We rank both for CFDs in 3 countries, and Saxo comes out ahead in every one of them. For reference, eToro's best ranking is #1 of 30 CFD brokers in Cyprus, and Saxo's best ranking is #1 of 18 CFD brokers in the United Kingdom.
Is eToro cheaper than Saxo?
Neither charges an inactivity fee. Saxo doesn't charge a withdrawal fee; eToro charges up to $5.
Is eToro or Saxo better regulated?
Both hold top-tier (tier-1) licences: eToro from FCA, ASIC, SEC / FINRA and NYDFS, Saxo from FCA, MAS, SFC, FINMA and Danish FSA. Which company you actually sign up with depends on where you live; the country table on this page names it for each one.
Can I use both eToro and Saxo where I live?
We list eToro in 12 of the 14 countries we cover and Saxo in 3. They overlap in 3. For CFDs, you'll find both on our lists in Netherlands, United Arab Emirates and United Kingdom.