Saxo announces surpassing USD 100 billion in client assets and 1 million clients

In a world where more and more individuals are choosing to take active control of their wealth and investments, Saxo is thrilled to announce its latest milestone: supporting over 1 million clients. This achievement reflects the global trend towards people taking greater control of their savings and the rising use of digital platforms. This milestone follows the recent news that Saxo's client assets have crossed the mark of USD 100 billion(SGD 134 billion).

Both milestones demonstrate the trust and support from Saxo’s clients and partners as the company saw steady growth in the number of clients and assets in the past years, solidifying its position as a leading financial and technology services provider amidst a challenging macro-economic environment.

Saxo’s parent company, Saxo Bank A/S, was founded in Copenhagen, Denmark in 1992 by CEO and Founder, Kim Fournais, on a shoestring budget and two employees, with the vision to make global capital markets more accessible for more people. Saxo’s commitment to transparency and client-centricity sets it apart from its peers and has been a key driver in growing client assets over the past year, as central banks have hiked interest rates across major markets. 

Adam Reynolds, CEO, Saxo APAC, commented:
"We are humbled and honoured by our clients' trust, which has propelled us to reach the double historic milestones of having over 1 million clients and surpassing USD 100 billion in client assets. This showcases our ability to support our growing number of clients and partners, navigate challenging markets, and deliver a robust investment experience and platforms tailored to our clients’ needs. 

In Singapore, we continue to see a positive trend with more people participating in the financial markets and putting their wealth to work using digital platforms like Saxo. This empowerment of investors has continued despite geopolitical uncertainties and high inflation levels, and we are proud to serve many of them across the world.

We are also very proud to have grown our client base in Singapore by more than five-fold since 2019, a testament to our passionate and committed employees who deliver world-class service and inspiration every day – a big thank you to all of them, and to the clients in Singapore and Asia Pacific who continue to place their trust in us every day. Today, as more people around the world are looking for ways to make their money work harder for them, I am confident that it will not take another 30 years for Saxo to welcome its next million clients.”

In the past few years, Saxo has doubled down on offering low cost, efficient, innovative, and trustworthy trading and investment platforms and solutions for people who want to make more of their money. Unlike many other banks and brokers, Saxo promptly passes on rate hikes to its clients, ensuring that they benefit from the increased interest rates automatically and immediately. This proactive approach empowers clients and partners to optimise their investment strategies while earning an attractive interest on uninvested cash, without any lock-ins or minimum holding periods. In turn, this enables Saxo Bank’s growing client base – in Europe, Asia Pacific, and MENA – to respond to emerging opportunities in the markets with agility and confidence.

Recently, Saxo Bank also announced that it had received a BBB rating with a positive outlook from S&P Global Ratings.

In addition, Saxo Bank is currently in the process of being appointed a Systemically Important Financial Institution (SIFI) later this year by the Danish Financial Supervisory Authority (FSA). The SIFI designation is given to financial institutions that are considered critically important to the functioning of the financial system.