Same premium service, now with razor-sharp prices: Saxo introduces transparent, market-leading price model
SYDNEY, 15 January 2024 – Saxo, a global leader in online trading and investment, has reduced its brokerage fees by up to 87% for US markets and up to 62% for the ASX to help Australian investors make more of their money and prosper.
Saxo clients can now enjoy razor-sharp, all-inclusive pricing – no strings attached - on brokerage and other trading fees, trading US equities for as little as USD 1, UK equities for as little as GBP 3, and the local ASX for as little as AUD 3.
They will also enjoy reduced prices on products such as Exchange Traded Funds (ETFs), Exchange Traded Products (ETPs), Listed Options and Futures – including as much as 70% less for AUD-denominated futures contracts.
For those trading in global markets, currency conversion fees have dropped two thirds to a market-leading 0.25%, enabling Saxo clients to affordably hold funds in 11 different currency “sub-accounts” and save on FX fees when trading.
The reductions in brokerage and other trading fees will sit alongside Saxo’s ongoing commitment to premium, in-person client service, its world-leading strategist team, and its focus on the safety and security of client funds and assets.
This will help more people seize opportunities in global capital markets in 2024, “shrinking the world” and enabling Aussie investors and traders to geographically diversify, build wealth and obtain financial freedom.
“As the cost of living continues to creep upwards for many, we strongly believe our clients should still be able to invest into their future and make the most of their money and investments,” Saxo Australia CEO Adam Smith says.
“By making prices much more competitive in the markets that Saxo operates in, particularly our ‘home’ ASX, we want to make it easier for new and existing clients to be invested and stay invested in the financial markets.
“Saxo’s global scale enables us to offer even better prices, and marks another huge step in establishing enduring win-win relationships with our clients.”
What can Australian investors expect from Saxo’s price changes?
- Transaction Based: A global and competitive approach to all variable and minimum fees, including as little as AUD 3 for ASX equities
- Currency Conversion Fees: Fee standardisation for automated currency conversions across all markets (0.25% FX rate mark-up)
- Inactivity Fees: Removal of all inactivity fees
How does this compare?*
Broker | ASX brokerage | US brokerage | Currency conversion fee (FX rate mark-up) | Multi-currency cash balance capacity |
Saxo Australia | Min AUD 3 | Min USD 1 | 0.25% | Yes (11 currency sub-accounts) |
Stake | Min AUD 3 | Min USD 3 | 0.70% | Yes (AUD, USD) |
CommSec (standard) | Min AUD 5 (post-promotion) | Min USD 5 | 0.55% | No, unless on CommSec International Shares Plus |
SelfWealth | AUD 9.50 | USD 9.50 | 0.60% | Yes (AUD, USD, HKD) |
In 2023, Saxo reached a historic milestone of one million end clients, and surpassed USD 100 billion in client assets globally. In addition, the Copenhagen-headquartered company was also appointed a Systemically Important Financial Institution (SIFI) by the Danish Financial Supervisory Authority (FSA), and received an investment grade rating from S&P. This highlights Saxo’s strong capital position and business model, as well as its cautious approach to risk management.
For more details on the price changes, please see here.
Communications and PR Manager, Australia
Phone: +61 2 8267 9024
Mobile: +61 498 333 025
Email: ARIS@saxomarkets.com
At Saxo we believe that when you invest, you unlock a new curiosity for the world around you. As a provider of multi-asset trading and investment, Saxo’s purpose is to Get Curious People Invested in the World, and we are committed to giving our clients more ways to make more of their money. We were founded in Copenhagen, Denmark in 1992 with a clear vision: we believe that access to global capital markets should not be the privilege of a select few. By 1998, we were one of the first online trading platforms in Europe, providing professional-grade tools and easy access to global financial markets for anyone who wanted to invest.
Today, we are an international award-winning investment firm for investors and traders who are serious about making more of their money. As a well-capitalised and profitable company, Saxo is a fully licensed bank under the supervision of the Danish FSA and we hold broker and banking licenses in multiple jurisdictions. Saxo has operated in Australia since 2012 and is a licensed subsidiary regulated by ASIC. As one of the earliest Fintechs in the world, we continue to invest heavily into our technology. Our clients and partners enjoy broad access to global capital markets across asset classes on our industry-leading platforms. Our open banking technology also powers more than 200 financial institutions as partners by boosting the investment experience they can offer their clients. Keeping our headquarters in Copenhagen, we have expanded our reach to having more than 2500 professionals in financial centers around the world including London, Singapore, Amsterdam, Hong Kong, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo/en-au