eToro vs Saxo Bank 2026: Which Broker is Better?

Regulation & Safety

eToro is a well-regulated broker, holding licences from several prominent regulatory bodies including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC), and the Securities and Exchange Commission (SEC) in the US. This extensive regulatory oversight ensures a high level of safety and trust for clients. Additionally, eToro offers fund protection schemes such as the Financial Services Compensation Scheme (FSCS) in the UK, providing an extra layer of security for investors.

Saxo Bank is also robustly regulated, with oversight from the FCA in the UK, the Monetary Authority of Singapore (MAS), and ASIC. Based in Copenhagen, Denmark, Saxo Bank benefits from stringent European regulatory standards. Like eToro, Saxo Bank offers investor protection schemes, ensuring that client funds are safeguarded against broker insolvency. Both brokers provide a secure trading environment, but eToro's global reach through its varied regulatory bodies gives it a slight edge in terms of comprehensive regulatory coverage.

Fees & Spreads

eToro operates with a spread-based pricing model, with spreads starting from 1 pip on forex trades. Notably, eToro does not charge commissions on trades, making it particularly attractive for cost-conscious traders. However, there is a $5 withdrawal fee, and an inactivity fee is imposed if accounts remain dormant for 12 months. The minimum deposit requirement is relatively low at $50, enabling easy access for new traders. On the downside, eToro’s spreads are generally wider compared to ECN brokers, which may not favour high-frequency traders.

Saxo Bank offers tighter spreads, starting from 0.4 pips on forex pairs, but charges a commission of 0.08% on stock trades. The broker requires a minimum deposit of $2,000, which might be prohibitive for smaller investors. Saxo Bank's fee structure is more suitable for larger accounts, as smaller accounts may face higher relative costs. Despite this, Saxo Bank’s competitive spreads and comprehensive range of instruments can justify the higher minimum deposit for more established traders.

Trading Platforms

eToro provides a proprietary web-based platform and mobile app, both known for their user-friendly interfaces and excellent social/copy trading features. These platforms are particularly suited for beginners who appreciate straightforward navigation and the ability to mirror successful traders. Conversely, Saxo Bank offers the SaxoTraderGO platform, renowned for its professional-grade tools, advanced charting capabilities, and extensive research and analysis features, catering well to experienced traders seeking a robust trading environment.

Who Should Choose eToro?

• Beginner traders looking for a user-friendly interface.
• Investors interested in social and copy trading functionalities.
• Traders seeking real stock ownership with no CFD involvement.
• Crypto enthusiasts who need an integrated crypto wallet.

Who Should Choose Saxo Bank?

• Professional traders requiring advanced trading tools and analysis.
• Investors with larger capital able to meet the $2,000 minimum deposit.
• Traders looking for access to a wide range of over 40,000 instruments.
• Clients seeking comprehensive research and market insights.

Our Verdict

For beginners, eToro emerges as the winner due to its ease of use and social trading features. Professional traders might prefer Saxo Bank for its sophisticated platform and extensive range of instruments. In terms of fees, eToro generally offers a more cost-effective structure for smaller accounts, despite its wider spreads.