Danish online trading platform Saxo has joined the Platforms Association, a UK industry group that represents investment platform providers across Britain and Europe.

Saxo Joins The UK Investment Platforms Trade Body

The membership comes just over a year after the association launched in September 2024 to give platforms a collective voice on regulatory and policy issues. Saxo joins other firms offering ISAs, pensions and investment accounts to retail customers and financial advisers.

The Copenhagen-based company has been expanding its UK presence as younger investors pile into online trading platforms. Under-25s now make up 15% of Saxo's new UK sign-ups, up from 9% in 2023, while female clients have tripled to 18% of new registrations.

Keith Phillips, CEO of the Platforms Association, said Saxo's involvement would strengthen the group's influence with regulators.

"Platforms are democratizing investing, transforming how millions of retail investors and their advisors manage their financial futures," Phillips said. "Having Saxo's involvement significantly strengthens our collective voice."

Among the founding members of the self-regulatory organization were nearly 50 companies, including Fidelity and Hargreaves Lansdown.

Regulatory Focus Drives Membership Push

The Platforms Association was created to help members navigate evolving regulations and improve services for both retail investors and financial advisers. The group works with UK policymakers and regulators on issues affecting firms that handle custody and settlement of retail investor assets.

"We're delighted to join the Platforms Association at a pivotal moment of technological and policy evolution in our industry," said Andrew Bresler, CEO of Saxo UK. "A unified voice is essential to shape regulation and foster sustainable growth."

The association has been expanding beyond basic platform services to cover distribution and managed portfolio services while promoting best practices across the sector.

Trading Platform Boom Continues

Saxo's membership comes as the firm reports strong growth numbers. New global trading clients jumped 132% year-on-year after the company revamped its pricing structure and launched a flexible ISA product.

However, as for Saxo’s performance in the UK, through its subsidiary Saxo Capital Markets UK Limited, net profit in 2024 fell by nearly 32%, from £11.2 million to £7.6 million. Revenue also declined by 13%, dropping from just under £28 million in 2023 to £24 million last year.

The Danish firm, which has operated in London since 2006, offers trading across more than 40,000 instruments and serves as a technology provider to over 120 financial institutions through its banking platform.

Saxo manages more than $100 billion in client assets globally and employs over 2,100 people across financial centers including London, Singapore, Amsterdam and Hong Kong.