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
• Available Markets
• Typical Spreads and Fees
• Security and Trust
• eToro vs. Saxo Capital Markets - Verdict

Headquarters	Israel	Australia
Regulators	ASIC, CySEC, FCA, FSA	N/A
Tier 1 Regulator(s)?		N/A
Owned by Public Company?		N/A
Year Established	2007	2012
Execution Type(s)	Market Maker	ECN/STP, Market Maker
Minimum Deposit	$50 - $10,000	A$3,000
Negative Balance Protection		N/A
Trading Platform(s)	Proprietary platform	Proprietary platform, Web-based
Average Trading Cost EUR/USD	1.0 pips	N/A
Average Trading Cost GBP/USD	2.2 pips	N/A
Average Trading Cost WTI Crude Oil	$0.05	N/A
Average Trading Cost Gold	$0.45	N/A
Retail Loss Rate	74%	N/A
Minimum Raw Spreads	0.8 pips	N/A
Minimum Standard Spreads	1.3 pips	N/A
Minimum Commission for Forex	$0.00	N/A
Islamic Account
Signals
US Persons Accepted?
Managed Accounts
	Get Started	Get Started

Features and Platforms

MT4
MT5
MT4/MT5 Add-Ons		N/A
cTrader
Proprietary Platform
Automated Trading
Social/Copy Trading		N/A
DOM?		N/A
Guaranteed Stop Loss
Scalping
Hedging
One-Click Trading		N/A
OCO Orders
Interest on Margin
	Get Started	Get Started

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

Average Trading Cost EUR/USD	1.0 pips	N/A
Average Trading Cost GBP/USD	2.2 pips	N/A
Average Trading Cost WTI Crude Oil	$0.05	N/A
Average Trading Cost Gold	$0.45	N/A
Average Trading Cost Bitcoin	$574	N/A
Minimum Raw Spreads	0.8 pips	N/A
Minimum Standard Spreads	1.3 pips	N/A
Minimum Commission for Forex	$0.00	N/A
Deposit Fee		N/A
Withdrawal Fee		N/A
Inactivity Fee	$10 monthly after 12 monthd	N/A
	Get Started	Get Started

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

Average Trading Cost EUR/USD	1.0 pips	N/A
Average Trading Cost GBP/USD	2.2 pips	N/A
Average Trading Cost WTI Crude Oil	$0.05	N/A
Average Trading Cost Gold	$0.45	N/A
Average Trading Cost Bitcoin	$574	N/A
Minimum Raw Spreads	0.8 pips	N/A
Minimum Standard Spreads	1.3 pips	N/A
Minimum Commission for Forex	$0.00	N/A
Deposit Fee		N/A
Withdrawal Fee		N/A
Inactivity Fee	$10 monthly after 12 monthd	N/A
	Get Started	Get Started

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

Country of the Regulator	Australia, Cyprus, Seychelles, United Kingdom	N/A
Name of the Regulator	ASIC, CySEC, FCA, FSA	N/A
Regulatory License Number	491139, 109/10, 583263, SD076	N/A
	Get Started	Get Started

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

Pros	Cons
Copy-trading with a community numbering almost 25 million traders	Higher minimum deposit requirement but within a reasonable range
User-friendly web-based trading platform and mobile app	Absence 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

Pros	Cons
Cutting-edge proprietary trading platforms alongside the core MT4	Limited deposit and withdrawal methods
Competitive trading costs, especially for VIP clients	Higher 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.

You might also be interested in reviewing the below broker comparisons:

• SAXO Markets vs IG Markets
• eToro vs Fidelity
• eToro vs FreeTrade

Read full eToro Review

Read full Saxo Capital Markets Review