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Saxo Bank Alternatives

Written by
Adam N.
Fact checked by
Updated
1d ago
Our top alternative brokers to Saxo Bank

The best alternatives to Saxo Bank are

  1. Swissquote - Swiss investment bank
  2. Interactive Brokers - International broker providing all asset classes
  3. DEGIRO - German-Dutch discount broker

Let's see in a bit more detail how the Saxo Bank alternatives compare to Saxo Bank and each other:

Saxo Bank alternatives comparison
Overall score
4.9 stars 4.4 stars 4.9 stars 4.6 stars
Fees score
3.0 stars 1.9 stars 4.3 stars 4.5 stars
Account opening score
5.0 stars 3.8 stars 3.1 stars 5.0 stars
Deposit and withdrawal score
4.5 stars 4.3 stars 3.3 stars 2.6 stars
Web platform score
5.0 stars 4.3 stars 4.3 stars 4.0 stars
Markets and products score
4.9 stars 5.0 stars 5.0 stars 3.6 stars
Visit broker Visit broker Visit broker Visit broker

Why are these brokers considered good alternatives to Saxo Bank? There are many areas based on which Saxo Bank can be compared with others. When we say a given online broker is a good alternative to Saxo Bank we mean these brokers are comparable in the following areas:

  • The products they offer, meaning you can buy mostly the same things, i.e. stocks, CFDs, options, etc.
  • The type of clients they target, i.e. beginners, experienced investors, or day traders.

Saxo Bank alternatives recommendations

Brokers are different in a number of ways, which means each of them may be suitable for different people. Here's how they compare overall:

  • Saxo Bank is recommended for investors and traders looking for a great trading platform and solid research
  • Swissquote is recommended for affluent investors who value safety and are ok with higher fees
  • Interactive Brokers is recommended for traders looking for broad market access and a professional trading environment
  • DEGIRO is recommended for traders and investors looking for execution only

Important factors of finding Saxo Bank alternatives

So far BrokerChooser has reviewed 101 online brokers in detail, which gives this comparison a solid starting point.

Not only that, but all of these brokers are reviewed using the exact same broker review methodology, which makes everything easily comparable. For each broker, we

  • open a live account
  • check over 100 criteria, with weighting based on readers' preferences
  • refresh data regularly

Whether Saxo Bank or one of its alternatives is the best choice for you is on the following five broker characteristics that most interest people:

Fees. There are different types of fees that your online brokerage may charge, and both the number and the size of these fees may vary significantly from broker to broker. Both of these aspects can impact your returns and your overall experience. The amounts Saxo Bank charges you are considered average. When picking an alternative, you could prioritize brokers that are cheaper than Saxo Bank.

Account opening. To open an account some brokers require at least €50,000 to be invested, while others don't set a minimum first-time deposit. The time it takes to open your account can be very different as well. At Saxo Bank this is not a problem as you can have it ready on the same day you registered.

Deposit/withdrawal. The number of ways that you can deposit or withdraw money to or from your account matters a lot. For example, while you can make a deposit with a credit card at Saxo Bank, this might not be the case at its alternatives.

Web trading platform. While online brokers are usually available on various platforms like mobile apps, tablet apps or desktop software, most people use them through their web platform in a browser. User-friendly trading platforms that offer many different resources can significantly increase your trading comfort.

Markets and products. A lot of people have specific products they would like to invest in. Knowing whether stocks, forex, mutual funds, and other products are available at the given Saxo Bank alternative is a must.


Now let's dive into the details of how Saxo Bank and its alternatives perform in the most important areas!

Swissquote

Recommended for affluent investors who value safety and are OK with higher fees

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Swissquote vs. Saxo Bank: Trading fees
US stock
$20.0
$1.6
UK stock
$31.3
$3.8
German stock
$27.0
$3.2
Swissquote vs. Saxo Bank: Minimum deposit, time to open an account
Minimum deposit
$0
$0
Time to open account
1 day 1 day

If you are interested more in Swissquote minimum deposit, this overview will help you.

Swissquote vs. Saxo Bank: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No No
Electronic wallets
No No
Withdrawal fee
$10
$0
Web trading platform of Swissquote, a Saxo Bank alternative
Swissquote vs. Saxo Bank: Trading platform scores
Web platform score
4.3 stars 5.0 stars
Mobile platform score
4.7 stars 5.0 stars
Desktop platform score
3.4 stars 5.0 stars

Learn more about Swissquote's web trading platform in the detailed Swissquote review.

Visit broker

Swissquote vs. Saxo Bank: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
Yes Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
Yes Yes
CFDs
Yes Yes
Crypto
Yes Yes

Interactive Brokers

Recommended for traders looking for broad market access and a professional trading environment

Visit broker

Interactive Brokers vs. Saxo Bank: Trading fees
US stock
$1.0
$1.6
UK stock
$3.8
$3.8
German stock
$3.2
$3.2
Interactive Brokers vs. Saxo Bank: Minimum deposit, time to open an account
Minimum deposit
$0
$0
Time to open account
1-3 days 1 day

If you are interested more in Interactive Brokers minimum deposit, this overview will help you.

Interactive Brokers vs. Saxo Bank: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No
No
Electronic wallets
No No
Withdrawal fee
$0
$0
Web trading platform of Interactive Brokers, a Saxo Bank alternative
Interactive Brokers vs. Saxo Bank: Trading platform scores
Web platform score
4.3 stars 5.0 stars
Mobile platform score
4.3 stars 5.0 stars
Desktop platform score
3.8 stars 5.0 stars

Learn more about Interactive Brokers's web trading platform in the detailed Interactive Brokers review.

Visit broker

Interactive Brokers vs. Saxo Bank: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
Yes Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
Yes Yes
CFDs
Yes Yes
Crypto
Yes
Yes

DEGIRO

Recommended for traders and investors looking for execution only

Visit broker

DEGIRO vs. Saxo Bank: Trading fees
US stock
$2.2
$1.6
UK stock
$3.4
$3.8
German stock
$5.3
$3.2
DEGIRO vs. Saxo Bank: Minimum deposit, time to open an account
Minimum deposit
$0
$0
Time to open account
1 day 1 day

If you are interested more in DEGIRO minimum deposit, this overview will help you.

DEGIRO vs. Saxo Bank: Withdrawal options
Bank transfer
Yes Yes
Credit/debit card
No No
Electronic wallets
No No
Withdrawal fee
$0
$0
Web trading platform of DEGIRO, a Saxo Bank alternative
DEGIRO vs. Saxo Bank: Trading platform scores
Web platform score
4.0 stars 5.0 stars
Mobile platform score
4.5 stars 5.0 stars
Desktop platform score
- 5.0 stars

Learn more about DEGIRO's web trading platform in the detailed DEGIRO review.

Visit broker

DEGIRO vs. Saxo Bank: Markets and products
Stocks
Yes Yes
ETFs
Yes Yes
Forex
No Yes
Funds
Yes Yes
Bonds
Yes Yes
Options
Yes Yes
Futures
Yes Yes
CFDs
No Yes
Crypto
No
Yes

Saxo Bank

Recommended for investors and traders looking for a great trading platform and solid research

Saxo Bank alternatives trading fees
US stock
$1.6
$20.0
$1.0
$2.2
UK stock
$3.8
$31.3
$3.8
$3.4
German stock
$3.2
$27.0
$3.2
$5.3
Saxo Bank alternatives minimum deposit and account open times
Minimum deposit
$0
$0
$0
$0
Time to open account
1 day 1 day 1-3 days 1 day

Learn more about Saxo Bank minimum deposit here.

Saxo Bank and alternatives withdrawal options and fees
Bank transfer
Yes Yes Yes Yes
Credit/debit card
No No No
No
Electronic wallets
No No No No
Withdrawal fee
$0
$10
$0
$0
Saxo Bank - Web trading platform
Saxo Bank and alternatives trading platform scores
Web platform score
5.0 stars 4.3 stars 4.3 stars 4.0 stars
Mobile platform score
5.0 stars 4.7 stars 4.3 stars 4.5 stars
Desktop platform score
5.0 stars 3.4 stars 3.8 stars -

Learn more about Saxo Bank's web trading platform in the detailed Saxo Bank review.

Saxo Bank and alternatives markets and products
Stocks
Yes Yes Yes Yes
ETFs
Yes Yes Yes Yes
Forex
Yes Yes Yes No
Funds
Yes Yes Yes Yes
Bonds
Yes Yes Yes Yes
Options
Yes Yes Yes Yes
Futures
Yes Yes Yes Yes
CFDs
Yes Yes Yes No
Crypto
Yes
Yes Yes
No

Bottom line

Based on our analysis, there are several good alternatives to Saxo Bank. They all offer similar products and target similar customers. Here's a recap of the results in a table.

Saxo Bank alternatives
Broker intro
Recommended for
Danish investment bank Investors and traders looking for a great trading platform and solid research
Swiss investment bank Affluent investors who value safety and are OK with higher fees
International broker providing all asset classes Traders looking for broad market access and a professional trading environment
German-Dutch discount broker Traders and investors looking for execution only

Still unsure? Use our broker finder and find the best broker for you or learn more about investing your money.

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Author of this article

Adam Nasli

Financial Wizard | Trading • Safety • Market Analysis

I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

Our top alternative brokers to Saxo Bank

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