Saxo Markets launches bundled pricing plans in Singapore, the first brokerage to do so
SINGAPORE, 6 December 2021 – Saxo Markets, the online trading and investment specialist that connects people to investment opportunities in global capital markets, today announces the launch of pricing plans for clients in Singapore, making Saxo the first in the investment and brokerage space to offer bundle packages for investors. Singapore is also the first international market where Saxo is rolling out its pricing plans, with more markets to follow in the future.
The pricing plans are open to all new clients in Singapore, and will be made available to existing clients in the coming months. New clients who sign up now can enjoy the Gold plan for free until 31 March 2022, plus SGD88 extra commission credit as a welcome bonus.
Industry research reveals that Singaporeans are looking for ease of use, ease of account opening, low fees and mobile access when it comes to online investment. Saxo’s further proprietary research showed that investors in Singapore would value more data feeds and free trades, for instance, and less custody fees.
Saxo’s pricing plans are designed in response to this feedback from real clients, and also to offer a better fit with people’s lifestyles and preferences. Singaporeans are already familiar with how subscription models work from packages for mobile phones, Netflix and the like. The beauty of these is their simplicity and convenience – and that is exactly what Saxo wants to offer investors. Based on the insights, the elements that go into each bundle plan are carefully curated, hand-picked by pricing and product specialists in Saxo to best reflect client needs. This is also reflected in the most popular Gold bundle – the research and insights from real clients indicate that most people find this the most accessible and efficient package to meet their investing needs.
Adam Reynolds, APAC CEO, Saxo Markets, comments, “We are excited to be bringing the bundle plans to our clients in Singapore. I do not believe that clients should have to have their broker sell their flow to hedge funds to get great pricing. Our pricing plans are designed with our clients in mind – for a very reasonable monthly charge, they contain all of the services and access that they have told us they love, and we have also removed the items that they don’t enjoy. We firmly believe in providing long term value for our clients, and the commitment from the clients in the form of choosing a pricing plan not only reduces costs and complexities for them, but also brings them much more value than the basic monthly bundle price. We’re giving Singaporeans more choice and control; they can remain on a plan with no monthly charge and their current rates if that suits them best.”
“There are already many things that bring stress and complexities to people’s lives. At Saxo, we believe access to financial markets and investing for the future should be made more accessible for more people. The pricing plans, with their simplicity and the great value that they bring, will make investing a more enjoyable and fuss-free experience for many more people in Singapore,” Reynolds adds.
What investors can look forward to
If upgrading from the free account, for a monthly charge from SGD5 up to SGD145, investors can choose the package that best meets their investing and trading needs. This monthly fee will be waived if clients earn enough Saxo points by trading.
For example, an investor who signs on for the Platinum pricing plan pays SGD45 per month – this is waived if they earn 45,000 Saxo points, plus they get the same amount worth of commission credit, which they can use toward trading commission costs. Under this bundle, they get access to free real time price data on US, EU, UK, CH and SG stocks, which has a combined value of over SGD100, and they get to trade at a better price, as well as access a wealth of inspirational content that can help them make more informed investment decisions.
In addition, the pricing plans from Silver to Diamond have no custody fee for clients who opt into Securities Lending, which lets Saxo borrow eligible securities from clients. For the securities loaned out, clients receive a monthly payment of any extra revenue generated by the loan. Investors will always be able to see which securities are on loan and how much revenue (if any) they have earned. Silver to Diamond accounts also do not require minimum account funding, offering investors a lot more freedom and transparency.
“We believe this is game-changing for investors and traders because this not only gives them more bang for their buck when it comes to managing their investment activities, it also creates more transparency in where their money is going when they use a broker. At Saxo, we believe there is no free lunch in the world, and the hidden fees behind some of our competitor’s low commissions are not often discussed. We are here to make things simpler and more transparent for investors, and the pricing plan is another step in our commitment to that,” Reynolds adds.
For more information on Saxo’s pricing plans, please visit https://www.home.saxo/en-sg/accounts/plans.
Head of Strategic Communications and PR APAC
+45 31 39 45 04 (DK)
Saxo Markets is a licensed subsidiary of Saxo Bank, a leading Fintech specialist that connects people to investment opportunities in global capital markets. Saxo Markets has operated in Singapore since 2006 and serves as the APAC headquarters. As a provider of multi-asset trading and investment, Saxo Bank’s vision is to enable people to fulfil their financial aspirations and make an impact. Saxo’s user-friendly and personalised platform experience gives investors exactly what they need, when they need it, no matter if they want to actively trade global markets or invest into their future.
Founded in 1992, Saxo Bank was one of the first financial institutions to develop an online trading platform that provided private investors with the same tools and market access as professional traders, large institutions, and fund managers. Saxo combines an agile fintech mindset with close to 30 years of experience and track record in global capital markets to deliver a state-of-the-art experience to clients. The Saxo Bank Group holds four banking licenses and is well regulated globally. Saxo offers clients around the world broad access to global capital markets across asset classes, where they can trade more than 72,000 instruments in over 26 languages from one single margin account. The Saxo Bank Group also powers more than 200 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 83.4 billion USD and the company has more than 2,500 financial and technology professionals in financial centers around the world including London, Singapore, Amsterdam, Shanghai, Hong Kong, Paris, Zurich, Dubai and Tokyo.
For more information, please visit: www.home.saxo/en-sg/.