Updated September 29, 2026 · BrokerCue Editorial Team
AJ Bell vs Saxo
AJ Bell vs Saxo: the differences
| Compare |  AJ Bell |  Saxo |
|---|---|---|
| Minimum deposit | £25 | CHF 0 |
| Stock trade fee | £5 | $1 |
| Account fee | £3.50 | €0 |
| Markets | Stocks, ETFs, Bonds, Funds | Stocks, ETFs, Forex, CFDs, Options, Futures, Bonds, FundsCovers more |
| Regulators | Financial Conduct Authority (FCA) | Danish Financial Supervisory Authority (FSA), Financial Conduct Authority (FCA)Covers more |
| Investor protection | FSCS up to GBP 85,000 | EU ICS up to EUR 20,000 |
| Currency conversion fee | 0.75% | 0.25%Lower |
| Deposit and withdrawal fees | Free withdrawals | Free deposits and withdrawals |
| Platforms | Web platform, Mobile app | SaxoInvestor, SaxoTrader |
| Account types | ISA, SIPP, Lisa, Jisa | Joint, Corporate |
| Inactivity fee | Not confirmed | €0 |
| Retail accounts that lose money | Not confirmed | 64% |
| Options contract fee | Not confirmed | $2 |
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Key differences
- Saxo scores higher overall: 9.3 vs 8.7.
- Regulators: only Saxo offers Danish Financial Supervisory Authority (FSA).
- Saxo is licensed in 1 more country.
- Currency conversion fee is lower at Saxo: 0.25% vs 0.75%.
- Markets: only Saxo offers Forex, CFDs, Options.
- Platforms: only AJ Bell offers Web platform, Mobile app.
- Platforms: only Saxo offers SaxoInvestor, SaxoTrader.
- Account types: only AJ Bell offers ISA, SIPP, Lisa.
- Account types: only Saxo offers Joint, Corporate.
- Features: only Saxo offers Demo account, Fractional shares.
Our verdict on each
AJ Bell
AJ Bell pairs a flat £3.50 with FCA regulation and FSCS up to GBP 85,000 of cover, so it suits UK savers who want four wrapper types. Deals in shares cost £5 and currency conversion adds 0.75%, which leaves it short of the cheapest names on our data.
Saxo
Saxo suits investors who want a Danish bank with no account or inactivity charge and a wide market list, but the stock trade fee is $1 and the FX fee is 0.25%. Costs stay predictable for long holders, less so for frequent traders.
Score breakdown
| Area | AJ Bell | Saxo |
|---|---|---|
| Cost | 8.4A flat annual fee of £3.50 and £5 a dealing sit mid-table, while currency conversion costs 0.75%. | 9.1HigherAccount fee and inactivity fee are both €0 and €0, and the minimum deposit is CHF 0. Stock trades cost $1. |
| Offer | 9.2 | 9.3Higher |
| Trust | 8.6 | 9.5Higher |
Side by side, item by item
| Markets | AJ Bell | Saxo |
|---|---|---|
| Stocks | Yes | Yes |
| ETFs | Yes | Yes |
| Forex | No | Yes |
| CFDs | No | Yes |
| Options | No | Yes |
| Futures | No | Yes |
| Bonds | Yes | Yes |
| Funds | Yes | Yes |
| Account types | AJ Bell | Saxo |
|---|---|---|
| ISA | Yes | No |
| SIPP | Yes | No |
| Joint | No | Yes |
| Corporate | No | Yes |
| Lisa | Yes | No |
| Jisa | Yes | No |
Licences and countries
| Country | AJ Bell | Saxo |
|---|---|---|
| United Kingdom | ||
| Denmark | Not confirmed |
A third option
Freestoxx has currency conversion fee at 0%, against 0.75% for AJ Bell and 0.25% for Saxo.
Freestoxx reviewWhat we checked
AJ Bell
- ajbell.co.uk: 15 facts, checked September 26, 2026
Saxo
- home.saxo: 6 facts, checked September 26, 2026
- brokerchooser.com: 5 facts, checked September 26, 2026
- bestbrokers.com: 3 facts, checked September 26, 2026
- landofforex.com: 2 facts, checked September 26, 2026
- moneyland.ch: 1 fact, checked September 26, 2026
How they place
| Ranking | AJ Bell | Saxo |
|---|---|---|
| Stock and ETF brokers | 193 of 471 | 78 of 471 |
| Investment platforms and apps | 41 of 86 | 17 of 86 |
Every fact side by side
| Fact | AJ Bell | Saxo |
|---|---|---|
| Features | Mobile app | Demo account, Fractional shares, Mobile appCovers more |
| Pricing model | Low fees | Low fees |
| Legal entity | AJ Bell | Saxo Bank A/S |
| Headquarters | United Kingdom | Denmark |
| Founded | Not confirmed | 1992 |
| Support channels | Chat, Help centre | Not confirmed |
Where each stands against the rest
| Fact | AJ Bell | Saxo | Median |
|---|---|---|---|
| Inactivity fee | Not confirmed | €0below the median | €2.45 |
| Retail accounts that lose money | Not confirmed | 64%lowest quarter | 72.05% |
| Currency conversion fee | 0.75%highest quarter | 0.25%below the median | 0.45% |
| Options contract fee | Not confirmed | $2highest quarter | $0.625 |
Median across 47 listed brokers.
Pros and cons
AJ Bell
Pros
- Four account types in one place: isa, sipp and lisa.
- Regulated by the Financial Conduct Authority (FCA), with FSCS up to GBP 85,000 of cover on eligible money.
- A flat £3.50 annual charge against a market median of €0.
Cons
- Dealing shares costs £5, where eToro charges $0.
- The account fee places AJ Bell 111 of 138 brands on our data.
- Support runs on chat and help centre only, with no phone line listed.
Saxo
Pros
- Account fee and inactivity fee are both €0 and €0
- Minimum deposit is CHF 0 and deposits and withdrawals carry no charge
- Regulated in Denmark by the Danish Financial Supervisory Authority and in the UK by the Financial Conduct Authority
Cons
- Stock trade fee of $1 sits well above the site median of €0
- FX fee of 0.25% applies on top of trading costs
- Investor protection is limited to the EU scheme at EU ICS up to EUR 20,000
Who each suits
AJ Bell
Who it suits
- You want an FCA-regulated broker with FSCS up to GBP 85,000 behind the account and do not need the lowest dealing cost.
- Your saving changes shape over time and you want ISA, SIPP, LISA and Junior ISA under one roof, since isa, sipp and lisa all sit here.
- You are a regular UK investor who prefers a flat £3.50 to a percentage-based platform charge.
Who should look elsewhere
- You trade very often, because eToro charges $0 on stock deals against £5 here.
- You are starting with almost nothing, since Vantage takes $5 and CFI takes $0 against the £25 asked for here.
- You want phone support, as AJ Bell lists chat and help centre and nothing wider.
Saxo
Who it suits
- Investors holding stocks and ETFs long term who want no account or inactivity charge
- Traders who need forex, options, futures and CFDs on one account
- Joint and corporate account holders
Who should look elsewhere
- Beginners wanting commission-free share dealing, where eToro charges $0 per trade
- Small-balance traders unwilling to meet the Vantage minimum deposit of $5
- Frequent currency converters put off by the 0.25% FX fee
Country by country
| Country | AJ Bell | Saxo |
|---|---|---|
| United Kingdom | Yes | No |
Questions about each
AJ Bell
What does AJ Bell charge to hold an account?+
The account fee is a flat £3.50 a year. That sits above the market median of €0 and well below the €219.24 at the expensive end of our data, so it is a mid-range holding cost rather than a free account.
How much does it cost to buy shares?+
A dealing in shares costs £5. The market median is €0 and the highest figure on our data is €17.54, so frequent dealing adds up quickly and investors who trade rarely feel it least.
Saxo
What does Saxo charge to hold an account?+
The account fee is €0 and the inactivity fee is €0, so there is no annual or dormancy charge. Saxo ranks 1 of 138 on account fee and 1 of 56 on inactivity fee. That makes it a straightforward choice for long-term holdings.
How much does it cost to buy a stock?+
Stock trades cost $1 through Saxo. That places it at 107 of 161 on this measure, and above the site median of €0. Active share traders should weigh that before opening.
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