eToro versus Saxo Capital Markets

With 25M+ traders, eToro ranks among the leading social trading brokers, with CopyTrader, CopyPortfolios, and in-house managed thematic investment portfolios at its core. It serves beginners via the eToro Academy, eToro plus, and The Bull Club. Its latest cryptocurrency venture, an NFT fund, adds to its investment in the sector, catering well to its client base of millennial and GenZ traders.

Saxo Capital Markets provides clients with cutting-edge proprietary trading platforms for advanced traders with algorithmic trading support. It also maintains OpenAPI for Excel, services by TradingView, home to an active and growing community of retail traders, and MultiCharts.

We have conducted an in-depth review of eToro and Saxo Capital Markets to determine which one presents the better overall choice and which traders will benefit the most at either broker.

Features and Platforms

Features & PlatformseToro (visit site)Saxo Capital Markets (visit site)
Headquarter:IsraelDenmark
Established :
20071992
Retail Loss Rate:
Undisclosed67.00%
Regulation:
Minimum Deposit:
$10 - $10,000$500
Demo Account:
Managed Account:
Islamic Account:
Inactivity Fee
$10 monthly after 12 months£25 quarterly
Deposit Fee:
Third-PartyThird-Party
Withdrawal Fee
Yes + Third-Party Third-Party
Funding Methods:
102
MT4:
MT5:
cTrader:
Proprietary Platform:
Automated Trading:
Social / Copy Trading:
MT4/MT5 Add-ons:
Guaranteed Stop Loss:
Negative Balance Protection:
Bonuses and Promotions:
Unique Feature One:
Large trading communityInternational Bank
Unique Feature Two:
Copy-trading platformExcellent Asset Selection
Broker Offers:
*78% of retail CFD accounts lose money

Noteworthy:

eToro continues growing its cryptocurrency presence, meeting client demand, while Saxo Capital Markets remains a leading international broker and liquidity provider with quality research and education.

Available Markets

Available MarketseToroSaxo Capital Markets
Currency Pairs:
Cryptocurrency Pairs:
Commodities and Metals:
Indices:
Equities:
Bonds:
ETFs:
Options, Futures, and Synthetics:
Maximum Retail Leverage:
1:301:30
Maximum Pro Leverage:
Undisclosed1:50

The asset selection at eToro provides most traders with sufficient assets to diversify portfolios with 2,000+ CFDs and in-house managed thematic portfolios. Saxo Capital Markets ranks among the leading brokers in this category with 60,000 trading instruments listed on 120 global exchanges, making it ideal for traders, investors, and asset managers.

Typical Spreads and Fees

Typical Spreads & FeeseToroSaxo Capital Markets
Minimum Raw Spreads:
Not applicableNot applicable
Minimum Standard Spreads:
1.0 pips0.6 pips
Minimum Commission for Forex:
Commission-freeCommission-free
Commission for Equity CFDs:
0.09%0.05% or $0.01/share (US)
Cash Rebates:
Execution Type:
Market MakerMarket Maker

Forex and CFD traders get notably lower trading costs at Saxo Capital Markets with minimum spreads of 0.6 pips or $6.00 per lot and equity commissions of 0.05% versus 1.0 pips or $10.00 and 0.09% at eToro. Long-term investors get commission-free share dealing at eToro, delivering a pricing advantage.

Security and Trust

eToro

Country of the RegulatorName of the RegulatorLicense Number
US
US Securities and Exchange Commission (SEC)Undisclosed
Cyprus
Cyprus Securities Exchange Commission109/10
UK
Financial Conduct Authority583263
Australia
Australian Securities and Investments Commission491139
Seychelles
Financial Services AuthoritySD076

Saxo Capital Markets

Country of the RegulatorName of the RegulatorLicense Number
Denmark
Financial Supervisory Authority1149
Australia
Australian Securities & Investments Commission280372
Italy
CONSOB296
Czech Republic
Czech National Bank28949587
The Netherlands
Bank of the Netherlands34357130
Singapore
Monetary Authority of Singapore200601141M
Switzerland
FINMACHE-106.787.764
France
ACPR/AMF495 193 849 R.C.S Paris
UAE
Central Bank of the UAE13/248/2019
Japan
Japanese Financial Services Agency239
Hong Kong
Securities and Futures Commission1395901
UK
Financial Conduct Authority551422

Segregation of client deposits and negative balance protection are available at both eToro and Saxo Capital Markets. The former has a $1,000,000 third-party insurance program underwritten by Lloyd's of London, and the latter is a Danish-based and Chinese-owned investment bank and online brokerage. Both brokers are equally secure and trustworthy.

eToro vs Saxo Capital Markets – Verdict

eToro

ProsCons
Copy-trading with a community numbering almost 25 million tradersHigher minimum deposit requirement but within a reasonable range
User-friendly web-based trading platform and mobile appAbsence of MT4 and no algorithmic trading
Quality educational offering for beginner traders via videos
Balanced asset selection with a focus on equity CFDs and ETFs

Saxo Capital Markets

ProsCons
Cutting-edge proprietary trading platforms alongside the core MT4Limited deposit and withdrawal methods
Competitive trading costs, especially for VIP clientsHigher minimum deposit, which increases based on geographic location
Superior asset selection and market exposure to 50+ global exchanges
Quality research and education for beginner traders

Saxo Capital Markets is an industry-leading broker with an outstanding investment and trading infrastructure for demanding traders. However, many retail clients will feel overwhelmed by its product and services portfolio. Therefore, eToro remains better suited for most retail traders and casual investors.

FAQs

Which broker is better than eToro?

Many brokers offer better conditions to niche requirements than eToro, which primarily caters to social trading.

Is Saxo trustable?

Saxo established itself as an industry leader and one of the most trusted broker banks globally.

Is Saxo regulated in Singapore?

Saxo maintains a regulated Singapore subsidiary.

Is eToro good for beginners?

With educational services like eToro Academy, eToro plus, and The Bull Club, eToro is a good choice for beginners.

Does Saxo have an inactivity fee?

Saxo charges a £25 quarterly inactivity fee.

Is eToro safe?

eToro is well regulated, segregates client deposits from corporate funds, has a clean track record, plus a $1,000,000 third-party insurance program, making it a safe broker.

What country is Saxo?

The Saxo headquarters is in Denmark.

What is the minimum deposit for Saxo Bank?

The minimum deposit at Saxo Bank is $500. The account type and geographic location of clients can increase it.