Saxo Capital Markets Australia reduces brokerage fees
Saxo Capital Markets (Australia) Limited has reduced its brokerage fees by up to 87% for US markets and up to 62% for the ASX.
Saxo clients can now enjoy razor-sharp, all-inclusive pricing on brokerage and other trading fees, trading US equities for as little as USD 1, UK equities for as little as GBP 3, and the local ASX for as little as AUD 3.
They will also see reduced prices on products such as Exchange Traded Funds (ETFs), Exchange Traded Products (ETPs), Listed Options and Futures – including as much as 70% less for AUD-denominated futures contracts.
For those trading in global markets, currency conversion fees have dropped two thirds to a market-leading 0.25%, enabling Saxo clients to affordably hold funds in 11 different currency “sub-accounts” and save on FX fees when trading.
“As the cost of living continues to creep upwards for many, we strongly believe our clients should still be able to invest into their future and make the most of their money and investments,” Saxo Australia CEO Adam Smith says.
“By making prices much more competitive in the markets that Saxo operates in, particularly our ‘home’ ASX, we want to make it easier for new and existing clients to be invested and stay invested in the financial markets.
“Saxo’s global scale enables us to offer even better prices, and marks another huge step in establishing enduring win-win relationships with our clients.”
What can Australian investors expect from Saxo’s price changes?
- Transaction Based: A global and competitive approach to all variable and minimum fees, including as little as AUD 3 for ASX equities
- Currency Conversion Fees: Fee standardisation for automated currency conversions across all markets (0.25% FX rate mark-up)
- Inactivity Fees: Removal of all inactivity fees