eToro
Saxo Markets
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Overview
eToro was founded in 2007 and is headquartered in Cyprus, UK, while Saxo Markets was established in 2012 and is based in Denmark. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. eToro serves 20,000,000+ clients worldwide; Saxo Markets has 10,000+. The minimum deposit is $50 at eToro and $6500 at Saxo Markets.
eToro
Saxo Markets
| Feature | eToro | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA) |
| Founded | 2007 | 2012 |
| Country | Cyprus, UK | Denmark |
| Clients | 20,000,000+ | 10,000+ |
Fees
Fees are a critical factor when choosing between eToro and Saxo Markets, directly affecting your bottom line as a trader. eToro has a lower barrier to entry with a minimum deposit of $50 (vs $6500 at Saxo Markets). Both brokers charge withdrawal fees. Both brokers charge inactivity fees on dormant accounts, worth noting if you trade infrequently. Overall, eToro scores higher on fees in our assessment.
| Feature | eToro | Saxo Markets |
|---|---|---|
| Min. Deposit | $50 | $6500 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | Yes |
| Deposit Fees | No | No |
| CFD Fees | No | No |
Platforms
eToro offers MT4, MT5, cTrader, a proprietary platform, while Saxo Markets supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Both brokers support copy or social trading, catering to less hands-on investors. eToro edges ahead on platform breadth and functionality in our scoring.
| Feature | eToro | Saxo Markets |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | web trader, tablet & mobile apps | Mac, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how eToro and Saxo Markets compare. eToro runs regular live webinars; Saxo Markets does not. Both provide video tutorials. eToro publishes daily market commentary; Saxo Markets does not. Both integrate third-party research tools. eToro maintains an archive of past webinars for on-demand viewing. eToro scores higher overall in education and research.
| Feature | eToro | Saxo Markets |
|---|---|---|
| Forex Education | Yes | Yes |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | Yes |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. eToro accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while Saxo Markets supports 2 (bank transfer, credit/debit card). eToro uniquely supports PayPal and Skrill and Neteller among the two brokers. eToro scores higher on deposit and withdrawal flexibility.
| Feature | eToro | Saxo Markets |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| Neteller | Yes | No |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both eToro and Saxo Markets offer live chat support. Both provide phone support. Email support is available at both brokers. eToro supports 5 languages and Saxo Markets supports 2, giving eToro broader global reach. Both brokers are comparable on support quality.
| Feature | eToro | Saxo Markets |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, German, Spanish, French, and Italian | English, and Chinese |