Is ISA available at Saxo Bank?
Yes, Saxo Bank provides stocks and shares tax-advantaged ISA accounts for UK tax residents!
Why go over Saxo Bank to check out a tax-advantaged account?
Overall:
- ISAs may be a viable alternative to fight inflation - anything else than keeping your money under the pillow might be a good alternative.
- Saxo Bank and its peers are regulated by at least one top-tier regulator, like the Financial Conduct Authority (FCA), which is a good sign.
- This means, you'll be eligible to financial compensation schemes, if the broker goes bust.
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Does Saxo Bank provide stocks and shares ISA?
What to expect at Saxo Bank?
First, let's go over the UX perspective. Here's a quick rundown on how good the mobile experience at Saxo Bank is compared to its competitors.
| Saxo Bank | Swissquote | Interactive Brokers | |
|---|---|---|---|
| Mobile platform score | 5.0 stars | 4.7 stars | 3.5 stars |
With an ISA, you'll be able to invest in certain trading products tax-free. Trading fees for these assets at Saxo Bank are:
- for stocks and ETFs: Average
- for mutual funds: Low
- for bonds: High
And now let's see the exact trading costs of each asset that can be used in your stocks and shares ISA at Saxo Bank:
| Assets | Saxo Bank |
|---|---|
| UK stock & ETF fees (per $2k investment) | $9.0 |
| US stock & ETF fees (per $2k investment) | $10.0 |
| Mutual fund fees (per $2k investment) | $0.0 |
| EU government bonds (per $2k investment) | $79.2 |
| US government bonds (per $2k investment) | $79.2 |
Apart from trading-fees, let's check if there are any other fees, like inactivity fees, that are charged even if you are not trading:
- Inactivity fees? Yes - In the UK, £25 after one quarter of inactivity. SIPP and ISA accounts are exempt from this fee. In non-UK countries, up to $150 after 6 months of inactivity
| Assets | Saxo Bank |
|---|---|
| Stocks and shares ISA | Yes |
| Cash ISA | No |
| Lifetime ISA | No |
| Innovative Finance ISA | No |
| SIPP (Self-Invested Personal Pension Account) | Yes |
If you're not sure what ISA means, head to our ISA article hub first.
If you're interested in the best stocks and shares ISA brokers, read our top list.
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