Online
trading and investment platform Saxo Bank has experienced an increase in its client
base following an aggressive pricing overhaul, with new trading accounts
soaring 132% in 2024 compared to the previous year. Moreover, the number of female
clients has tripled.
Saxo Reports Surge in UK
Client Base After Price Cuts
The
Danish-owned broker has seen particularly strong momentum in the UK market,
where demographic shifts point to broader market participation. Female traders
have emerged as a key growth segment, with new female client accounts tripling
year-over-year to represent 18% of new UK accounts. Additionally, younger
investors under 25 now comprise 15% of new clients, up from 9% in 2023.
“Our
pricing model reflects our commitment to providing best-in-class investment
solutions at competitive rates,” said Andrew Bresler, CEO of Saxo UK.
“Seeing such robust growth in our client numbers – both in the UK and
globally across our markets – is a testament to the strength of our offering
and attractive pricing.”
The surge
follows Saxo’s January 2024 pricing revision, which introduced significant
reductions for UK clients trading US and domestic stocks. Commission rates now
start at $1 for US trades and £3 for UK trades, while custody and platform fees
have been eliminated. Currency conversion fees were reduced to 0.25% across all
account types.
Saxo Bank’s UK division experienced visible growth, with its assets under management (AUM) reaching £2 billion and net profit rising to £11.2 million in 2023, surpassing the previous year’s figures.
“Our
clients have access to over 70,000 instruments globally, providing them with a
breadth of investment opportunities,” adds Dan Squires, CCO at Saxo in the UK.
“This also enables us to observe some interesting trends in trading and
investing habits – in 2024, for instance, UK stocks were noticeably absent from
the top 25 most traded instruments on our platform, with the S&P 500
dominating in terms of value traded.”
Saxo
Australia Acquired by DMA
Two weeks
ago, Saxo’s Australian branch ownership changed hands as Johannesburg-based DMA
acquired a majority stake in the company. The financial technology provider ,
which serves wealth managers and financial advisers, now holds an 80.1% share,
while Denmark’s Saxo Bank retains the remaining 19.9%.
The
acquisition comes as Saxo Bank explores strategic options following its
unsuccessful attempt to go public. While reports suggest multiple bids were
received, the Danish firm has yet to confirm any finalized agreements.
The
announcement highlights Saxo Bank’s shift in focus within the Asia-Pacific
region, aligning with DMA’s expansion into the Australian market. The deal
reflects broader efforts by both companies to enhance their market presence and
growth strategies.
Online
trading and investment platform Saxo Bank has experienced an increase in its client
base following an aggressive pricing overhaul, with new trading accounts
soaring 132% in 2024 compared to the previous year. Moreover, the number of female
clients has tripled.
Saxo Reports Surge in UK
Client Base After Price Cuts
The
Danish-owned broker has seen particularly strong momentum in the UK market,
where demographic shifts point to broader market participation. Female traders
have emerged as a key growth segment, with new female client accounts tripling
year-over-year to represent 18% of new UK accounts. Additionally, younger
investors under 25 now comprise 15% of new clients, up from 9% in 2023.
“Our
pricing model reflects our commitment to providing best-in-class investment
solutions at competitive rates,” said Andrew Bresler, CEO of Saxo UK.
“Seeing such robust growth in our client numbers – both in the UK and
globally across our markets – is a testament to the strength of our offering
and attractive pricing.”
The surge
follows Saxo’s January 2024 pricing revision, which introduced significant
reductions for UK clients trading US and domestic stocks. Commission rates now
start at $1 for US trades and £3 for UK trades, while custody and platform fees
have been eliminated. Currency conversion fees were reduced to 0.25% across all
account types.
Saxo Bank’s UK division experienced visible growth, with its assets under management (AUM) reaching £2 billion and net profit rising to £11.2 million in 2023, surpassing the previous year’s figures.
“Our
clients have access to over 70,000 instruments globally, providing them with a
breadth of investment opportunities,” adds Dan Squires, CCO at Saxo in the UK.
“This also enables us to observe some interesting trends in trading and
investing habits – in 2024, for instance, UK stocks were noticeably absent from
the top 25 most traded instruments on our platform, with the S&P 500
dominating in terms of value traded.”
Saxo
Australia Acquired by DMA
Two weeks
ago, Saxo’s Australian branch ownership changed hands as Johannesburg-based DMA
acquired a majority stake in the company. The financial technology provider ,
which serves wealth managers and financial advisers, now holds an 80.1% share,
while Denmark’s Saxo Bank retains the remaining 19.9%.
The
acquisition comes as Saxo Bank explores strategic options following its
unsuccessful attempt to go public. While reports suggest multiple bids were
received, the Danish firm has yet to confirm any finalized agreements.
The
announcement highlights Saxo Bank’s shift in focus within the Asia-Pacific
region, aligning with DMA’s expansion into the Australian market. The deal
reflects broader efforts by both companies to enhance their market presence and
growth strategies.
This post is originally published on FINANCEMAGNATES.
