Saxo Markets Australia announces price reductions on US and ASX equities
Saxo Markets, the online trading and investment specialist that connects people to investment opportunities in global capital markets, has today announced a suite of price reductions designed to provide Australian investors lower costs when trading ASX and US equities.
Starting from today, Saxo will lower its minimum commission to AUD 5, down from AUD 6.99 for ASX shares and ETFs, and to a minimum of USD 4 , down from USD 9.90 for US shares and ETFs.
Despite new entrants offering zero commission in the market, Saxo will still be one of the best priced brokers for ASX and US equities when taking account of all trading costs. Saxo’s commission and fee structure is transparent, with no platform fees and no inactivity fees. As part of the price reduction, Saxo offers foreign currency accounts so that investors can save on FX conversion fees when trading international markets. By using the foreign currency account, investors can avoid paying an FX conversion fee on each trade. The conversion fees only apply when they deposit or withdraw funds from the foreign currency account.
Adam Smith, CEO of Saxo Capital Markets Australia said; “the retail investment market is booming locally – Saxo Markets Australia’s trading client base increased by 56% in 2020 and our new client base increased by 114%.
We’ve also seen a spike in investors looking to trade international stocks, given that markets like the US have the breadth and liquidity required to facilitate successful trading from either the long or short side.
With this growth comes a need for increased transparency as pricing structures and complexities are often cited as challenges for investors looking to navigate the markets and place trades. A more transparent and competitive pricing structure removes barriers for our clients, as they can make increasingly informed and optimal investment decisions.”
Commitment to transparency: No hidden fees
Saxo remains committed to full transparency on pricing, with costs outlined upfront and no hidden fees. Saxo clients can also be assured that they will not be charged Inactivity Fees, Platform Fees or Account Maintenance Fees, for example.
Visit home.saxo/en-au/campaigns/save-more for more information.
Keep Left for Saxo Markets
+61 3 9268 7800
+61 427 801 843
saxo@keepleft.com.au
Yvette Lim
Head of Strategic Communications and PR (Singapore, Australia, Japan)
Saxo Bank
+45 31 39 45 04 (DK)
yvel@saxobank.com
Founded in 1992, Saxo Bank was one of the first financial institutions to develop a online trading platform that provided private investors with the same tools and market access as professional traders, large institutions and fund managers.
Saxo offers clients around the world broad access to global capital markets across asset classes, where they can trade more than 40,000 instruments in over 25 languages from one single margin account.
Saxo Markets Australia is known locally for its broad range of asset classes and international market access, as well as a seamless and personalised platform experience that connects traders, investors and partners to global FX, CFDs, Stocks, Options, Futures and more from a single account.
The Saxo Bank Group holds four banking licenses and is well regulated globally. In Australia, Saxo Capital Markets is licensed and regulated by the Australian Securities and Investment Commission (ASIC) as a share trading platform.
The Saxo Bank Group also powers more than 135 financial institutions as partners by boosting the investment experience they can offer their clients via its open banking technology.
Headquartered in Copenhagen, Saxo Bank’s client assets total more than 80 billion USD and the company has more than 2,000 financial and technology professionals in financial centres around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.
For more information, please visit: https://www.home.saxo/en-au.