Wahed Invest vs Saxo Bank

Wahed Invest or Saxo – which is better for UK traders 2024? Compare Wahed Invest and Saxo in this detailed breakdown of their platforms, features and fees.

Wahed Invest vs Saxo Comparison Table 2024
Wahed Invest Saxo
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3.1
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4
Wahed Invest is ranked #117 among UK brokers. Saxo is ranked #83 among CFD brokers.
Review
Review
Wahed Invest is an ethical investment platform and robo-advisor aimed at Muslim investors. The firm is overseen by the Sharia Review Bureau, offering a range of stocks, ETFs, sukuk and gold. With a reasonable $100 minimum deposit and strong regulatory oversight, the firm has become an accessible option for over 200,000 investors. Saxo Markets is a multi-award-winning trading brokerage, investment firm and regulated bank. With a huge 72,000+ trading instruments, plus investment products and managed portfolios, clients have no shortage of opportunities. The trusted brand also offers transparent pricing and top-tier regulatory protection from 10+ agencies including FINMA, FCA & ASIC.
66% of retail accounts lose money.
Pros
  • Commitment to ethical investing with rigorous screenings, plus Waqf practices to ensure income generated from assets is donated
  • The broker's fee covers all custodian fees and transaction fees and traders are never charged for account balances of zero
  • Strong regulation by the SEC in the US and the FCA in the UK, plus membership with the Shariah Review Bureau
  • Six flexible investment portfolio styles, from Very Conservative to Very Aggressive, plus a rebalancing service
  • Engaging blog featuring Islamic finance education and awareness, updated regularly
  • Powerful proprietary trading platforms with comprehensive charting packages and advanced analysis tools
  • High-level research hub with curated market research, plus unique insights with 'Outrageous Predictions'
  • Excellent educational resources including podcasts, webinars and expert-led video insights
  • Access to comprehensive third-party analysis tools including TradingView and Updata
  • The ISA account is highly accessible and flexible with no entry or exit fees
  • Heavily regulated and trustworthy brand based in Switzerland
  • Low fees with premium account tiers
Cons
  • Platform is not as advanced as other competitors
  • Higher fees than other investment firms
  • Bank card funding not available
  • $100 minimum withdrawal
  • No live chat support
  • High funding requirements for the trading accounts
  • Access to Level 2 pricing requires a subscription
  • Clients from some jurisdictions not accepted including the US and Belgium
FCA Regulated
No

List of FCA Regulated Brokers

Yes
Instruments
Stocks, Sukuk, Gold Forex, CFDs, indices, shares, commodities, cryptocurrencies, futures, options, warrants, bonds, ETFs
Demo Account
No Yes
Minimum Deposit
$100 £500
Payment Methods
Minimum Trade
Variable Vary by asset
Regulator
SEC, SRB DFSA, MAS, FCA, SFC
Mobile Apps
iOS & Android SaxoTraderGo (iOS, Android, Windows)
iOS App Rating
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Android App Rating
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Margin Trading
No No
MetaTrader 4
No No
MetaTrader 5
No No
cTrader
No No
AlgoTrader
No No
OmniTrader
No No
TradingView
No Yes
Autochartist
No No
eSignal
No No
Trading Central
No No
STP Account
No No
ECN Account
No Yes
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
Yes No
Negative Balance Protection
No No
Market Maker
No No
P2P Trading
No No
Spot Trading
No Yes
Auto Trading
Robo-advisor
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
No No
Demo Competitions
No No
Ethical Investing
Yes No
Custodial Account
No No
Guaranteed Stop Loss
No No
Islamic Account
Yes Yes
Account Currencies
  • USD
  • GBP
  • MYR
  • USD
  • EUR
  • GBP
  • CAD
  • AUD
  • JPY
  • SEK
  • DKK
  • CHF
Commodities
  • Gold
  • Gold
  • Silver
  • Natural Gas
  • Oil
  • Copper
  • Corn
CFD
Trade 8,900+ CFDs spanning forex, stocks, indices, commodities, options and bonds with powerful tools and signals.
Leverage
1:30
FTSE Spread
1.2 pts (Variable)
GBPUSD Spread<
0.7 (var)
Oil Spread
0.03
Stocks Spread
0.10% (subject to min commission)
Forex
Tier 1 liquidity on an impressive range of 189 currency pairs and spot metals, plus 130 forwards, from 0.4 pips.
Assets
40+
GBPUSD Spread
0.7 (varies by region)
EURUSD Spread
0.2 (varies by region)
EURGBP Spread
0.6 (varies by region)
Wahed Invest Saxo
Review
Review
66% of retail accounts lose money.
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