Saxo, a leading financial services company, has recently announced significant reductions in brokerage fees for both the US and Australian markets.
This strategic move is aimed at making trading more accessible and affordable for Australian investors, offering transparent and all-inclusive pricing structures.
Clients of Saxo will now enjoy substantial reductions in brokerage fees, with up to an impressive 87% reduction for US markets and up to 62% for the ASX.
This means that trading costs for US equities can now be as low as USD 1, UK equities for just GBP 3, and local ASX equities for as little as AUD 3.
These fee reductions extend to various other financial instruments such as Exchange Traded Funds, Exchange Traded Products, Listed Options, and Futures, providing potential savings of up to 70% on AUD-denominated futures contracts.
Additionally, global market traders associated with Saxo will benefit from a two-thirds reduction in currency conversion fees, now set at a mere 0.25%.
This reduction promotes cost-effective trading by allowing Saxo clients to hold funds in 11 different currency sub-accounts.
Adam Smith, the CEO of Saxo Australia, emphasized 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.”
These changes in the fee structure complement Saxo’s existing premium services, which include in-person client support, a distinguished strategist team, and a strong focus on the safety and security of client funds and assets.
The goal is to create an environment where a wider audience can explore opportunities in global capital markets, enabling Australian investors and traders to diversify geographically, build wealth, and achieve financial independence.
Saxo’s revamped pricing structure introduces competitive variable and minimum fees for transactions, making ASX equities trading as affordable as AUD 3. Additionally, 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, commented, “Investors have increasing demands for 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 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.”
These changes are set to benefit both new and existing clients, making Saxo an even more attractive choice for investors in the US and Australian markets.