Saxo introduces better pricing, lowering overall trading costs for investors

Saxo, a global leader in online trading and investment, today announces the introduction of a simplified pricing structure. This is accompanied by the complete discontinuation of its account plans. Together, this will lower overall trading costs for clients, reducing barriers for both new and existing clients to be invested with Saxo.

With the removal of account plans, clients will no longer incur a monthly fee. Instead, clients can move to the Platinum or VIP tiers and enjoy more attractive pricing based on their trading activity and/or account value.

Saxo was founded to make global capital markets accessible for more people. Today, majority of its clients trade in global markets, where a significant component of trading costs come from currency conversion. By slashing its currency conversion cost to a market leading 0.25%, clients investing in global markets outside of their home currency will see significant savings.

“These changes are driven by the need to offer simpler and more transparent pricing to our clients. Having surpassed the 1 million client mark and amassing significant scale has enabled us to pass better pricing on to our clients,” said Adam Reynolds, APAC CEO, Saxo.

Costs involved in investing
When it comes to investing, investors would typically be charged two types of transaction fees: (1) commission fees, displayed as a percentage rate and accompanied by a minimum, and (2) currency conversion costs, incurred when placing trades outside your home currency. In addition to transaction fees, there are also other brokerage fees involved.

While there is strong competition around commission fees, there is less transparency and awareness on the other fees involved when placing a trade. Furthermore, investors placing small orders end up paying the minimum commission which is more expensive than the commission rate. Over time, these fees compound and significantly erode returns. 

What investors can expect
To deliver more value for money, and offer a more transparent pricing structure, Saxo clients can expect the following: 

Discontinuation of account plans	No more monthly fees • Was up to SGD 5/month for Silver and SGD 145/month for Diamond
Lowered minimum commissions	Pay less commission on smaller trades • US stocks at USD 1, was USD 2 • UK stocks at GBP 3, was GBP 8 • HK stocks at HKD 15, was HKD 90
Lowered commission rates across products	Cheaper to trade European and Asian stocks, options and futures • Most EU stocks at 0.08%, was 0.1% • Most Asia stocks at 0.08%, was 0.15%
Lowered all other brokerage fees	Reduced effect of compounding fees • Currency conversion at 0.25%, was 0.75% • SGD 0 platform fee • SGD 0 withdrawal fee • SGD 0 custody fee*
Free market data	All clients can subscribe to free level 1 market data for US and EU stocks^

*When opted into securities lending
^Subject to Terms and Conditions

“The investing landscape in Singapore is advancing at hyper-speed. We see a trend of investors demanding cost-effective ways to be invested in more geographies, across more sectors and in more asset classes. Throughout the years, Saxo has met all these demands, and we intend to continue doing so. This pricing overhaul is a crucial step in our commitment to pursue win-win with our clients,” said Reynolds.

For full pricing details, visit https://www.home.saxo/en-sg/campaigns/invest-for-less