Saxo has announced reductions in brokerage fees for both US and Australian markets. The company's move aims to enhance the accessibility and affordability of trading for Australian investors through transparent, all-inclusive pricing.

Saxo Slashes Brokerage Fees

Saxo's clientele will now benefit from a noteworthy reduction of up to 87% in brokerage fees for US markets and up to 62% for the ASX. Consequently, trading costs for US equities can be as low as USD 1, UK equities for as little as GBP 3, and local ASX for as little as AUD 3.

This fee adjustment extends to various other financial instruments such as Exchange Traded Funds, Exchange Traded Products, Listed Options, and Futures, with potential savings of up to 70% on AUD-denominated futures contracts.

Global market traders associated with Saxo will experience a reduction of two-thirds in currency conversion fees, now standing at 0.25%. This reduction facilitates cost-effective trading by allowing Saxo clients to hold funds in 11 different currency sub-accounts.

Adam Smith, the CEO of Saxo Australia, expressed the company's commitment to facilitating investment despite the challenging economic environment. He stated: "By making prices more competitive in the markets we operate in, especially the ASX, we aim to make it more accessible for both new and existing clients to invest and remain invested in financial markets."

SAXO PRESS RELEASE 📣🙌 Saxo has reduced its brokerage fees by up to 87% for US markets and up to 62% for the ASX to help Australian #investors and #traders make more of their money and prosper. Find out more on the @saxobank website: https://t.co/wq7uRvEqt5

— Saxo Markets Australia (@SaxoAustralia) January 15, 2024

Saxo's Fee Reductions and Currency Conversions

The revised fee structure complements Saxo's existing premium services, which include in-person client support, a distinguished strategist team, and an unwavering focus on the safety and security of client funds and assets. The objective is to create an environment where a broader audience can explore opportunities in global capital markets, allowing Australian investors and traders to diversify geographically, build wealth, and attain financial independence.

Saxo's revamped pricing structure introduces changes aimed at providing enhanced value for its clients. The company now offers competitive variable and minimum fees for transactions, allowing ASX equities trading for as little as AUD 3. Moreover, Saxo has standardized automated currency conversions with a nominal 0.25% FX rate mark-up, providing clients with transparent and predictable currency conversion fees.

Kim Fournais, the Founder & CEO of Saxo Bank: “Investors have increasing demands to the overall investment experience and the ability to trade across markets and products on award-winning multi-asset platforms has always been Saxo’s core pedigree. With the lower prices and fees, it’s becoming even easier and more attractive to diversify across asset classes, which is critical to any healthy and profitable portfolio. Diversification is really the 'only free lunch' in investing.”