Written by ForexBrokers.com
In this head to head comparison of Saxo vs eToro, we will compare the trading platforms, mobile apps, range of investments, costs, market research, and more. Let's dive in.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 51% and 89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Saxo vs eToro: Saxo was founded in 1992 and is a bank, but it isn’t publicly traded. eToro launched in 2007, is not a bank, and is publicly traded. These differences can matter if you care about a broker’s corporate structure and how it raises capital.
On regulation, Saxo holds 7 Tier-1 licenses and 1 Tier-2 license, while eToro holds 4 Tier-1 and 1 Tier-2, as classified by ForexBrokers.com. Trust Scores out of 99 are 99 for Saxo and 96 for eToro—both fall in the 90–99 “highly trusted” range (80–89 trusted, 70–79 average risk, 60–69 high risk, under 59 not trusted).
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Year Founded | 1992 | 2007 |
| Publicly Traded (Listed) | No | Yes |
| Bank | Yes | No |
| Tier-1 Licenses | 7 | 4 |
| Tier-2 Licenses | 1 | 1 |
| Tier-3 Licenses | 0 | 0 |
| Tier-4 Licenses | 0 | 1 |
Saxo and eToro take different approaches to trading costs. Saxo earns 5/5 stars for commissions and fees and ranks #9 out of 63 brokers, while eToro earns 4.5/5 stars and ranks #23. eToro, a market‑maker, lists a typical variable spread of 1 pip on EUR/USD (slightly above the industry average). Saxo’s pricing scales with account tier and activity, which can make it more cost‑effective for higher‑volume traders.
For forex, Saxo is spread‑only (no commission), with one exception: if you trade under 50,000 units in a month, there’s a $3 per‑side ticket fee. As of November 2023, average EUR/USD spreads were 1.1 pips (Classic), 1.0 pips (Platinum), and 0.9 pips (VIP); minimum spreads ran about 0.2 pips lower (e.g., Classic min 0.9). Classic has a $0 minimum deposit for new customers, Platinum requires $200,000 (AUD 300,000 for Australia forex), and VIP requires $1,000,000—or you can qualify for tier upgrades via Saxo’s loyalty program (e.g., about $40M forex volume for a year of Platinum, or about $167M for VIP). Saxo also waives custody fees on share trading if you opt into securities lending.
eToro’s headline cost is its typical 1‑pip EUR/USD spread, which is slightly higher than average; many traders choose eToro more for its social copy trading than for the lowest spreads. Its VIP Club (Silver to Diamond) spans balances from $5,000 to $250,000 and offers benefits such as access to Trading Central, discounted deposit/withdrawal fees, and a dedicated account manager. In short: eToro’s pricing is straightforward but a bit higher on spreads, while Saxo can be cheaper as your account tier and trading volume rise.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 |
| Average spread (EUR/USD) - Standard account | 1.0 | N/A |
| All-in Cost EUR/USD - Active | 0.8 | N/A |
| Non-wire bank transfer | No | Yes |
| PayPal (Deposit/Withdraw) | No | Yes |
| Skrill (Deposit/Withdraw) | No | Yes |
| Bank Wire (Deposit/Withdraw) | Yes | Yes |
Dive deeper: Best Low Spread Forex Brokers.
Saxo vs eToro: both let you trade forex as CFDs and as spot contracts, and both offer exchange-traded stocks on U.S. and international markets (so you can buy shares like Apple or Vodafone outright, not just via CFDs). That said, Saxo’s catalog is far larger, with about 71,000 tradeable symbols and 190 forex pairs, compared with eToro’s 7,441 symbols and 55 forex pairs.
Feature-wise, eToro stands out for copy trading and the ability to buy actual cryptocurrency, while Saxo does not offer copy trading or real crypto purchases (both brokers do offer crypto CFDs). For Range of Investments, each earns 5 out of 5 stars; however, ForexBrokers.com ranks Saxo #3 out of 63 brokers in this category, while eToro sits at #11. In short, choose Saxo for sheer market coverage, or eToro if you want social trading and the option to own crypto.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes |
| Tradeable Symbols (Total) | 71000 | 7441 |
| Forex Pairs (Total) | 190 | 55 |
| U.S. Stocks (Shares) | Yes | Yes |
| Global Stocks (Non-U.S. Shares) | Yes | Yes |
| Copy Trading | No | Yes |
| Cryptocurrency (Underlying) | No | Yes |
| Cryptocurrency (CFDs) | Yes | Yes |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
Dive deeper: Best Copy Trading Platforms.
In the Saxo vs eToro comparison for trading platforms and tools: both brokers offer proprietary platforms and free paper trading via demo accounts. Saxo provides a Windows desktop download along with a web platform, while eToro offers a web-based platform and no Windows desktop app. Neither broker supports MetaTrader 4 or MetaTrader 5, and both let you trade directly from charts.
The key difference in tools is social trading. eToro includes copy trading so you can mirror other traders; Saxo does not. For quality, ForexBrokers.com rates Saxo 5 stars and ranks it #1 out of 63 brokers for Trading Platforms and Tools, while eToro is rated 4.5 stars and ranked #8. Choose Saxo if you want a top-rated desktop and web experience with chart trading, or choose eToro if you value easy web trading with built-in copy trading and a demo to practice.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Virtual Trading (Demo) | Yes | Yes |
| Proprietary Desktop Trading Platform | Yes | Yes |
| Desktop Platform (Windows) | Yes | No |
| Web Platform | Yes | Yes |
| Copy Trading | No | Yes |
| MetaTrader 4 (MT4) | No | No |
| MetaTrader 5 (MT5) | No | No |
| Charting - Indicators / Studies (Total) | 61 | 106 |
| Charting - Trade From Chart | Yes | Yes |
Dive deeper: Best MetaTrader 4 Brokers, Best MetaTrader 5 Brokers.
Saxo and eToro both offer mobile trading apps for iPhone and Android. Each app supports stock and forex price alerts and keeps your watchlists synced between your phone and your online account, so changes update in both places. If you want a dependable, on-the-go experience for tracking markets and managing positions, both the Saxo mobile app and the eToro mobile app cover the essentials.
For charting, eToro offers more built-in technical studies (104) than Saxo (64), which can appeal to indicator-focused traders. However, Saxo lets you draw trendlines in the app and automatically saves your chart drawings, while eToro does not. Independent ratings reflect these trade-offs: ForexBrokers.com rates Saxo’s Mobile Trading Apps at 5 stars and ranks it #2 out of 63 brokers, while eToro earns 4.5 stars and ranks #10. Choose Saxo if you value drawing tools and top-tier ratings; pick eToro if a larger indicator set is your priority.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Android App | Yes | Yes |
| Apple iOS App | Yes | Yes |
| Mobile Price Alerts | Yes | Yes |
| Mobile Watchlists - Syncing | Yes | Yes |
| Mobile Charting - Indicators / Studies | 64 | 104 |
| Mobile Charting - Draw Trendlines | Yes | No |
| Mobile Charting - Trendlines Autosave | Yes | No |
Dive deeper: Best Forex Trading Apps.
Saxo and eToro both cover the essentials for research-focused traders. Each provides daily market commentary, a forex news feed from leading sources like Bloomberg, Reuters, or Dow Jones, a sentiment tool that shows long vs. short positioning, and an easy-to-browse economic calendar.
The differences come down to third-party tools and ratings. Saxo includes Autochartist for trade ideas, while eToro offers Trading Central and adds TipRanks for stock research; neither uses Acuity Trading. According to ForexBrokers.com, Saxo earns 5 stars for Research and ranks #1 out of 63 brokers, while eToro scores 4.5 stars and ranks #13. Choose Saxo if you want top-rated research with Autochartist, or eToro if you prefer Trading Central and TipRanks built into a social trading experience.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes |
| Forex News (Top-Tier Sources) | Yes | Yes |
| Autochartist | Yes | No |
| Trading Central | No | Yes |
| Client sentiment data | Yes | Yes |
| TipRanks | No | Yes |
| Acuity Trading | No | No |
| Economic Calendar | Yes | Yes |
Dive deeper: Best Brokers for Forex Research.
Saxo and eToro both make it easy for beginners to learn. Each runs at least one educational client webinar every month, giving you live guidance and Q&A. You’ll also find plenty of video lessons on both platforms: 10+ beginner-focused videos to cover the basics and 10+ advanced videos for when you’re ready to level up. This mix helps new traders build confidence at a steady pace, whether you’re exploring forex, CFDs, or general market know‑how.
In expert reviews, Saxo earns 5 stars for Education, while eToro gets 4.5 stars. That said, ForexBrokers.com ranks eToro higher in the Education category (#5 of 63 brokers) compared with Saxo (#13 of 63). If you value the higher star score, Saxo has the edge; if you prefer a broker that places higher in category rankings, eToro stands out. Either way, both deliver frequent webinars and a deep library of beginner-friendly videos.
| Feature |
Saxo
|
eToro
|
|---|---|---|
| Webinars | Yes | Yes |
| Videos - Beginner Trading Videos | Yes | Yes |
| Videos - Advanced Trading Videos | Yes | Yes |
Dive deeper: Best Forex Brokers for Beginners.
After testing 63 of the best forex brokers, our research and account testing finds that Saxo is better than eToro. Saxo finished with an overall rank of #3, while eToro finished with an overall rank of #9.
Saxo is an exclusive multi-asset broker with brilliant research and a superb trading platform experience – as well as a stunning selection of over 40,000 securities.
| Feature |
Saxo
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eToro
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| Trust Score | 99 | 96 |
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In the Saxo vs eToro comparison for cryptocurrency, eToro supports buying actual (delivered) crypto and trading crypto CFDs, while Saxo offers only cryptocurrency CFDs with no delivery of the underlying coins.
Saxo vs eToro: For deposit and withdrawal methods, eToro supports ACH/SEPA, PayPal, Skrill, and bank wires, while Saxo supports bank wires only; Visa/Mastercard availability is not specified for either.
Please note:
We review each broker’s overall global offering – a “Yes” checkmark in our Compare Tool does not guarantee the availability of any specific features in your country of residence. To verify the availability of any features within your country of residence, please contact the broker directly.
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0 of 5| Overall Rating | Saxo | eToro | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | eToro Review |
| Broker Screenshots | Saxo | eToro | |
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| Regulation | Saxo | eToro | |
|---|---|---|---|
| Trust Score | 99 | 96 | |
| Year Founded | 1992 | 2007 | |
| Publicly Traded (Listed) | No | Yes | |
| Bank | Yes | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes | |
| Tier-1 Licenses | 7 | 4 | |
| Tier-2 Licenses | 1 | 1 | |
| Tier-3 Licenses | 0 | 0 | |
| Tier-4 Licenses | 0 | 1 |
| Tier-1 Licenses (Highly Trusted) | Saxo | eToro | |
|---|---|---|---|
| Australia (ASIC Authorised) | Yes | Yes | |
| Canada (CIRO Authorised) | No | No | |
| Hong Kong (SFC Authorised) | Yes | No | |
| Japan (FSA Authorised) | Yes | No | |
| Singapore (MAS Authorised) | Yes | Yes | |
| Switzerland (FINMA Authorised) | Yes | ||
| United Kingdom (U.K.) (FCA Authorised) | Yes | Yes | |
| USA (CFTC Authorized) | No | No | |
| New Zealand (FMA Authorised) | No | No | |
| Regulated in one or more EU or EEA countries (MiFID). | Yes | Yes |
| Tier-2 Licenses (Trusted) | Saxo | eToro | |
|---|---|---|---|
| Kenya (CMA Authorised) | |||
| Israel (ISA Authorised) | No | No | |
| South Africa (FSCA Authorised) | No | No | |
| UAE (DFSA, FSRA, or SCA Authorised) | Yes | Yes | |
| India (SEBI Authorised) | No | No | |
| Jordan (JSC Authorised) |
| Investments | Saxo | eToro | |
|---|---|---|---|
| Forex Trading (Spot or CFDs) | Yes | Yes | |
| Tradeable Symbols (Total) | 71000 | 7441 | |
| Forex Pairs (Total) | 190 | 55 | |
| U.S. Stocks (Shares) | Yes | Yes | |
| Global Stocks (Non-U.S. Shares) | Yes | Yes | |
| Copy Trading | No | Yes | |
| Cryptocurrency (Underlying) | No | Yes | |
| Cryptocurrency (CFDs) | Yes | Yes | |
| Disclaimers | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). | Note: Crypto CFDs are not available to retail traders from any broker's U.K. entity, nor to U.K. residents (except to Professional clients). |
| Cost | Saxo | eToro | |
|---|---|---|---|
| Average spread (EUR/USD) - Standard account | 1.0 | N/A | |
| All-in Cost EUR/USD - Active | 0.8 | N/A | |
| Inactivity Fee | Yes | Yes | |
| Order execution: Agency | Yes | Yes | |
| Order execution: Market Maker | Yes | Yes |
| Funding | Saxo | eToro | |
|---|---|---|---|
| Minimum Deposit | $0 | $50-$10,000 | |
| PayPal (Deposit/Withdraw) | No | Yes | |
| Skrill (Deposit/Withdraw) | No | Yes | |
| Bank Wire (Deposit/Withdraw) | Yes | Yes | |
| Non-wire bank transfer | No | Yes |
| Trading Platforms | Saxo | eToro | |
|---|---|---|---|
| Proprietary Desktop Trading Platform | Yes | Yes | |
| Desktop Platform (Windows) | Yes | No | |
| Web Platform | Yes | Yes | |
| Copy Trading | No | Yes | |
| MetaTrader 4 (MT4) | No | No | |
| MetaTrader 5 (MT5) | No | No | |
| cTrader | No | No |
| Trading Tools | Saxo | eToro | |
|---|---|---|---|
| Virtual Trading (Demo) | Yes | Yes | |
| Price Alerts | Yes | Yes | |
| Charting - Indicators / Studies (Total) | 61 | 106 | |
| Charting - Trade From Chart | Yes | Yes | |
| Charts can be saved | Yes | Yes |
| Mobile Trading | Saxo | eToro | |
|---|---|---|---|
| Android App | Yes | Yes | |
| Apple iOS App | Yes | Yes | |
| Mobile Price Alerts | Yes | Yes | |
| Mobile Watchlist [DELETED] | |||
| Mobile Watchlists - Syncing | Yes | Yes | |
| Mobile Charting - Indicators / Studies | 64 | 104 | |
| Mobile Charting - Draw Trendlines | Yes | No | |
| Mobile Charting - Trendlines Autosave | Yes | No | |
| Mobile Research - Economic Calendar | Yes | No |
| Research | Saxo | eToro | |
|---|---|---|---|
| Daily Market Commentary (Articles) | Yes | Yes | |
| Forex News (Top-Tier Sources) | Yes | Yes | |
| Autochartist | Yes | No | |
| Trading Central | No | Yes | |
| TipRanks | No | Yes | |
| Client sentiment data | Yes | Yes | |
| Economic Calendar | Yes | Yes |
| Education | Saxo | eToro | |
|---|---|---|---|
| Webinars | Yes | Yes | |
| Videos - Beginner Trading Videos | Yes | Yes | |
| Videos - Advanced Trading Videos | Yes | Yes |
| Major Forex Pairs | Saxo | eToro | |
|---|---|---|---|
| GBP/USD [DELETED] | |||
| USD/JPY [DELETED] | |||
| EUR/USD | Yes | Yes | |
| USD/CHF [DELETED] | |||
| USD/CAD [DELETED] | |||
| NZD/USD [DELETED] | |||
| AUD/USD [DELETED] | |||
| Review | Saxo Review | eToro Review |
| Overall | Saxo | eToro | |
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| Trust Score | 99 | 96 | |
| Winner | check_circle | ||
| Review | Saxo Review | eToro Review |
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