DEGIRO vs Saxo
DEGIRO and Saxo Bank are two large online brokers. Investment Platforms.EU recommends both. We mostly invest through DEGIRO, but in some areas of our test, Saxo scores better. In this overview, we compare them based on their offer, ease of use, fees, and reliability.
Please note: investing involves risks, and you can lose part or all of your investment on an investment platform.
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DEGIRO vs Saxo: market leaders in The Netherlands
DEGIRO and Saxo are both popular online brokers with a strong presence in several European countries, especially in The Netherlands.
DEGIRO was founded in the Netherlands and acquired by the German company Flatex in 2019. Saxo Bank, based in Denmark, expanded its European footprint by acquiring BinckBank, which was once a leading Dutch broker.
Both platforms offer access to a wide range of markets, competitive pricing, and solid trading platforms. While DEGIRO is often praised for its low fees and simplicity, Saxo offers a broader range of services. Saxo also supports professional accounts and offers white-label solutions for financial institutions.
Availability, pricing structures, and product access may vary slightly between countries. For example, DEGIRO’s platform may differ in terms of available local stock exchanges or tax reporting features depending on the country. Saxo’s fee structure also varies and tends to be more premium in some markets.
Open an account directly with a large European broker such as eToro, known for its beginner-friendly platform, or DEGIRO, which is popular for its low trading fees. Investing involves risks. You can lose your investment.
Similar offer
Both platforms focus on private investors in several European countries, but their product range is not limited to Europe. Many users on both platforms are active in American stocks, options trading, or look for opportunities in emerging markets.
When opening an account at DEGIRO, we could only open a personal account. At Saxo, it was also possible to open a joint account or one for a minor, although this was only available in the Netherlands. Not many brokers offer this, so if you are looking for these options, this can be an important advantage of Saxo’s offer.
Both platforms do not offer fractional shares or the option to invest directly in crypto. Saxo says it offers interest on cash that is not invested, but the rate is quite low and only applies when the balance is over 100,000 euro. In that case, there are better options, so we do not see this as an advantage over DEGIRO.
Investment information
Both brokers provide a fair amount of investment information. Saxo often offers webinars, where investment advisors explain certain products or discuss market trends. DEGIRO mainly supports users with knowledge articles or general data like a top 10 of most traded stocks, popular ETF lists, and general news about Dutch and global stocks.
At Saxo, you can also take extra subscriptions to add news from other sources directly into the platform. This helps you find new stocks quickly or keep up with company news. Saxo also offers subscriptions for professional investors.
Risky investments
Both platforms use questionnaires. For advanced options, you first need to complete an investor test. This way, they protect new users who are not yet familiar with ETFs, futures, options, or other products from the risks involved.
New investors should first read up before trading certain products. People who already understand them can complete the tests in a few minutes and then get full access to these features on the platforms.
Ease of use
Both brokers are made for people who want to invest on their own. They are user-friendly and offer everything you need to invest through an investment platform. The mobile apps also work well and are complete for both DEGIRO and Saxo.
These platforms are aimed at investors who already have some experience and want more than just buying shares. Think of trading in options or using different types of orders, like market orders, limit orders or stop-loss orders.
If you are not familiar with these options and mainly want to invest in index funds or ETFs, other platforms, such as Scalable or Trade Republic, can be easier to use.
Fees: Saxo vs DEGIRO
Both platforms offer clear and competitive fees. They both have very low spreads, which is the difference between the buy and sell price. DEGIRO has been known for years for its low transaction fees for private investors. Saxo changed its fees in 2024, which made the differences between the platforms much smaller.
While writing our reviews, we noticed that fees can vary a lot depending on the region, even within Europe. In some areas, Saxo still charges quite high fees. For our Dutch account, we could choose between several options. For private investors who make a few trades per week, the Green package with the Saxo Investor platform is the most logical choice. You pay 0.01 percent of your portfolio value per month, with a maximum of 40 euros.
This amount is returned the next month as transaction credit, which is valid for one month. DEGIRO does not have fixed monthly fees. If you do not trade, you do not pay anything. DEGIRO usually shows only the transaction fees. This makes the core selection look free, but because of administration fees, you still pay 1 euro per transaction.
Comparison of transaction costs
A big difference for us was that Saxo often uses percentage-based fees, while DEGIRO works with fixed fees. For example, at Saxo, the fee for shares is 0.08 percent of the transaction amount, with a minimum of 2 euros for Dutch shares. At DEGIRO, you pay 3 euros for Dutch shares, no matter how much you invest. This can make a difference when you trade larger amounts.
On both platforms, options usually cost 0.75 euros per transaction. For ETFs, DEGIRO charges 1 euro for the core selection and 3 euros for other ETFs worldwide. At Saxo, the cost is again 0.08 percent of the transaction amount, with a minimum of 2 euros for Euronext ETFs.
Reliability: both offer a safe platform
In terms of safety, we give both platforms the highest score. Apart from possible losses due to your own investment choices, you do not need to worry about the safety of the platforms themselves. However, we did experience more errors and small issues with DEGIRO.
Especially with less popular shares or non-essential information, DEGIRO is sometimes less accurate than Saxo. We have also used Saxo for years and have not had any problems or system errors there.
Both platforms are registered with the Dutch Authority for the Financial Markets (AFM) and follow various compliance rules. They offer a reliable service, and apart from a few personal experiences, there are no major differences that would clearly influence your decision.
Conclusion: we prefer DEGIRO
At Investment Platforms.EU, we prefer working with DEGIRO. We also enjoy investing through Saxo, and the difference is mainly in small details. The biggest difference for us was the fixed monthly fee that Saxo charges. It may seem small, but for a larger account, the monthly costs can add up over time.
In terms of functions, fees, or the range of investment products, both platforms are quite similar. For passive investors, the Auto Invest feature from Saxo is a useful tool, and Saxo offers more features in the dashboard. In the end, the choice between Saxo and DEGIRO mostly comes down to personal preference.