Comparison of eToro and Saxo
| Feature | eToro | Saxo |
|---|---|---|
| Broker | ||
| Year Founded | 2006 | 1992 |
| Broker Type | MM, Social | DMA |
| Dealing | B-book | A-book |
| Execution | Instant | Market |
| Regulation | SFSA, FCA, CySEC, ASIC, SEC | Danish FSA, FCA, MAS, FINMA |
| Platforms | eToro | SaxoTraderGO, SaxoTraderPRO, TradingView |
| Spread | ⬈ High | ⮕ Average |
| Maximum Leverage | 1:30 | 1:30 |
| Minimum Deposit | $200 | $1 |
| Base Currencies | USD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
| Funding Methods | Bank Wire, Credit Card, Debit Card, PayPal, Skrill, Neteller, Klarna, Rapid Transfer, Trustly | Bank Wire, Credit Card, Debit Card |
| Inactivity Fee | $10 per month after 12 months | ✖ |
| Interest on Margin | ✖ | ✔ |
| Withdrawal Fee | $5 | ✖ |
| Investor Protection | Investor Compensation Fund (ICF) | Danish Guarantee Fund, UK FSCS |
| Protection Size | €20 000 | DKK 100 000 / £85 000 |
| Segregated Accounts | ✔ | ✔ |
| Negative Balance Protection | ✔ | ✔ |
| Guaranteed Stop Loss | ✖ | ✖ |
| Copy Trading | ✔ | ✖ |
| VPS | ✖ | ✖ |
| MAM/PAMM | ✖ | ✖ |
| Scalping Allowed | ✖ | ✔ |
| EAs/Robots | ✖ | ✔ |
| Depth of Market (DOM) | ✖ | ✔ |
| Tradable Assets (CFDs) | Currencies, Indices, Stocks, ETFs, Cryptocurrencies, Metals, Energies, Soft Commodities | Currencies, Stocks, ETFs, Bonds, Options, Futures, Commodities, Cryptocurrencies |
| Review | eToro Review | Saxo Review |
About eToro
eToro is a globally renowned social trading platform, offering a unique approach to forex and CFD trading through its innovative copy trading feature. Established in 2007 and regulated by multiple top-tier authorities, including the FCA, CySEC, and ASIC, eToro has become a popular choice for traders of all experience levels. The platform allows users to follow and copy successful traders, making it particularly appealing to beginners seeking to learn and profit from experienced professionals. Beyond social trading, eToro offers a diverse range of instruments, including forex, stocks, ETFs, commodities, and cryptocurrencies, making it a versatile platform for portfolio diversification. Its proprietary platform is user-friendly and comes with robust analytical tools, catering to both novice and seasoned traders. However, while eToro's zero-commission stock trading is a standout feature, its relatively high spreads and inactivity fees may deter cost-conscious traders.
Pros
- Unique copy trading feature for following successful traders
- Regulated by multiple top-tier authorities (FCA, CySEC, ASIC, etc.)
- Offers a wide range of instruments, including cryptocurrencies and stocks
- User-friendly proprietary platform with robust analytical tools
- Zero-commission stock trading for non-leveraged positions
- Integrated social features for sharing insights and strategies
Cons
- Relatively high spreads compared to other brokers
- Inactivity fees applied after 12 months of non-use
- Limited options for advanced trading platforms like MT4 or MT5
- Withdrawal fees for certain transactions
- Customer support may have delayed response times during peak periods
About Saxo
Saxo is a Danish multi-asset broker and fully licensed bank offering Direct Market Access across more than 190 FX pairs, 19 000+ equities and thousands of other instruments. Regulated by the Danish FSA, FCA, MAS and FINMA, Saxo provides the award-winning SaxoTraderGO/PRO platforms plus TradingView connectivity. Its Classic account has no minimum deposit, floating FX spreads from 0.9 pips and leverage up to 1:30, while Platinum and VIP tiers unlock tighter pricing and premium service. Traders benefit from segregated client funds, negative-balance protection in the EU, rich analytics and extensive education.
Pros
- Bank-grade regulation (DK FSA, FCA, MAS, FINMA)
- No-minimum Classic account; tight DMA pricing
- 190+ FX pairs and 40 000+ instruments overall
- SaxoTraderGO/PRO plus TradingView integration
- Tiered positive-balance interest on cash
- Extensive research, webinars and market tools
Cons
- High deposits (USD 200k / 1 M) for better Platinum / VIP pricing
- No MetaTrader support
- Islamic swap-free accounts not available
eToro & Saxo Regulation
| Feature | eToro | Saxo |
|---|---|---|
Companies | eToro (Seychelles) Limited, eToro (UK) Ltd, Etoro (Europe) Ltd, eToro AUS Capital Limited, eToro USA Securities Inc. | Saxo Bank A/S |
Countries | Seychelles, United Kingdom, Cyprus, Australia, United States | Denmark, United Kingdom, Singapore, Australia, Switzerland, UAE, Hong Kong, Japan, Germany, France |
Regulators | SFSA, FCA, CySEC, ASIC, SEC | Danish FSA, FCA, MAS, FINMA |
Investor Protection | Investor Compensation Fund (ICF) | Danish Guarantee Fund, UK FSCS |
Investor Protection Size | €20 000 | DKK 100 000 / £85 000 |
Publicly Traded | ||
Segregated Accounts | ||
Guaranteed Stop Loss | ||
Negative Balance Protection |
Account Types
| Account | eToro | Saxo |
|---|---|---|
Market Maker Account | ||
| Account Name | eToro | — |
| Min Deposit | $200 | — |
| Lot Size | 0.01 | — |
| Spread Type | Floating | — |
| Execution | Instant | — |
| Min Spread | 1 | — |
| Fee | No | — |
| Max Leverage | 1:30 | — |
| Stop Out | 50% | — |
| Margin Call | 100% | — |
DMA Account | ||
| Account Name | — | Classic |
| Min Deposit | — | $1 |
| Lot Size | — | 0.01 |
| Spread Type | — | Floating |
| Execution | — | Market |
| Min Spread | — | 0.9 |
| Fee | — | No |
| Max Leverage | — | 1:30 |
| Stop Out | — | 50% |
| Margin Call | — | 100% |
| Additional Features | ||
| Demo Account | ||
| VIP Account | ||
| Swap-Free Account | ||
| Copy Trading | ||
| VPS | ||
| PAMM/MAM Accounts | ||
Funding and Fees
| Feature | eToro | Saxo |
|---|---|---|
Base currencies | USD | USD, EUR, GBP, CHF, JPY, AUD, SGD, HKD, DKK, SEK, NOK |
Deposit and withdrawal methods | Bank Wire, Credit Card, Debit Card, PayPal, Skrill, Neteller, Klarna, Rapid Transfer, Trustly | Bank Wire, Credit Card, Debit Card |
Inactivity fee | $10 per month after 12 months | |
Interest on margin | ||
Withdrawal fee | $5 |
Trading Platforms and Conditions
| Feature | eToro | Saxo |
|---|---|---|
Trading Platforms | eToro | SaxoTraderGO, SaxoTraderPRO, TradingView |
Execution Speed | 0 ms | 9 ms |
Scalping | ||
Expert Advisors (EAs) | ||
Depth of Market (DOM) | ||
Spread | high | average |
Trading Assets
| Asset | eToro | Saxo |
|---|---|---|
Currencies | 47 | 190 |
Indices | 13 | 29 |
Stocks | 2500 | 19000 |
Cryptocurrencies | 112 | 20 |
Bonds | 0 | 5000 |
Metals | 7 | 4 |
Energies | 2 | 5 |
Soft Commodities | 4 | 8 |
ETFs | 250 | 3000 |
Education and Analytics
| Feature | eToro | Saxo |
|---|---|---|
Economic Calendar | ||
Indicators | ||
Robots | ||
Signals | ||
Autochartist | ||
Expert Analytics | ||
News Feed | ||
Education Articles | ||
Webinars | ||
Seminars |
Customer Support
| Contact | eToro | Saxo |
|---|---|---|
Email | customerservice@etoro.com | salesCEE@saxobank.com |
Phone | +1800778439 | +4539774113 |
Facebook | — | |
LinkedIn | ||
YouTube | YouTube | — |
Twitter |
Which Broker is Better?
After comparing eToro and Saxo, eToro comes out ahead as our overall pick. It ranks higher in our internal scoring and delivers a stronger balance of pricing (spreads/fees), platform experience, and product range. That said, the runner-up may still be a better fit if you prioritize specific needs—like a particular account type, funding method, or niche instruments. This is not financial advice; always choose a broker that matches your goals and local regulatory requirements.
More Comparisons
Andriy Bondarenko
Broker Analyst
Andriy is a seasoned expert in broker reviews with over a decade of experience in finance and trading. Under his leadership, the team produces in-depth and unbiased analyses of leading trading platforms.