DEGIRO vs Saxo: Comparison and Analysis

DEGIRO vs Saxo: A Comparison Summary

When it comes to online trading platforms, DEGIRO and Saxo are two well-known names in the industry. While both platforms offer a range of investment opportunities, they differ in terms of features, fees, and security. Let’s take a closer look at how they compare.

Regulation:

Saxo holds multiple regulations, including FCA, ASIC, MAS, FINMA, JFSA, and HKSFC. In contrast, DEGIRO holds only the BaFin regulation and is only available within the European Union.

Demo Accounts:

Saxo offers a demo account for 20 days with virtual funds of $100,000, while DEGIRO does not offer a demo account.

Account Opening:

DEGIRO has a minimum deposit of €0,01, while Saxo does not require any minimum deposit. Saxo offers over 20 account currencies, while DEGIRO only offers EUR. Payment methods vary between both platforms, with Saxo offering more options.

Social-Copy Trading:

Neither DEGIRO nor Saxo offers copy-social trading.

Markets:

Saxo offers a wider range of markets including Forex, commodities, indices, bonds, stocks, ETFs, and futures. In contrast, DEGIRO is primarily a stock broker, offering stocks and ETFs, with a limited number of futures and options.

Trading Fees:

DEGIRO has very low commissions of $1 per order, while Saxo has variable spreads from 0.3 pips on forex.

Platforms:

Saxo offers two proprietary trading platforms – SaxoTraderGO and SaxoTraderPRO – that cater to different types of traders. DEGIRO offers a proprietary platform, which can be accessed via web and mobile devices but can take time to navigate.

Education/Customer Care:

Both platforms offer quality education material, including webinars, videos, and trading guides. Saxo provides access to a trading academy and dedicated account managers for high-net-worth clients. Customer care is easy to contact via email and phone for both platforms, but Saxo also offers live chat support.

Conclusion

DEGIRO and Saxo offer different benefits depending on the investor’s needs. Saxo may be more suitable for short-term investing, while DEGIRO may be better for long-term investing. Saxo has a wider range of markets, stronger security, and a demo account, but its fees may be higher. DEGIRO offers very low commissions, but has limited market options and lacks a demo account. Ultimately, it’s important to weigh the pros and cons of each platform to determine which one is the best fit for your investment strategy.