Saxo Markets Singapore marks increase in new clients in H1 2021
Shortly after online trading and investment specialist Saxo Bank reported its financial results for the first half of 2021, Saxo Markets Singapore, a licensed subsidiary of Saxo Bank, posted a set of solid metrics.
In Singapore, Saxo Markets reported a significant increase in the number of new active clients, level of client activity as well as growth in clients’ assets. Key highlights include:
- Saxo Markets Singapore reached the milestone of SGD 10 billion in clients’ assets. This is driven by strong momentum in the market and more compelling products that met the needs of clients, as Saxo Markets welcomed 24% more clients compared to the same period last year.
- The number of monthly trading clients in H1 2021 vs 2020 was up 97%, a significant increase in number of active clients.
- Among those who joined Saxo, 75% were under 40 years old, reflecting the global trend of younger investors entering the market. Out of these new clients, over 30% were women, which is in line as well with the positive trend that Saxo saw last year – globally the increase in new women investors was up by 354% compared to 288% for men, and in Singapore, the uptick in new female clients was a significant 410%.
Commenting on Singapore’s strong performance, Adam Reynolds, APAC CEO, Saxo Markets, said,
“We have seen encouraging shifts in the market, such as younger traders and investors, and more than 30 percent of our new clients being female, which is more than the industry average.”
“In H1, we have introduced innovative products such as Crypto FX for people to trade cryptocurrencies in a safe and secure way, while also growing our mutual funds offerings through partnerships as well as expanding the pool of our digital wealth products. Crossing the mark of SGD 10 billion in clients’ assets is testament to the great trust that our clients have in Saxo, as more satisfied clients choose to trade, invest and grow their wealth with us,” Reynolds added.
“As many countries now slowly transition to a more normal state of affairs, we continue to see an increased interest in investing from both experienced investors and the many individuals investing their savings for the first time. This marks an acceleration of a global trend in motion before the pandemic, of more people taking greater ownership and control of their savings and investments.
This greater participation and empowerment of retail investors will continue to be a dominant market force for the foreseeable future. At Saxo, we believe that will be a force for good not only for society and the economy, but for the many people who are now better equipped to fulfill their financial aspirations while making an impact by investing based on their beliefs and values,” Reynolds said.