Saxo Australia Fee Cut: Affordable, Accessible Investing in Australia. Seize Opportunities with Reduced Costs Now
Saxo Australia Fee Cut: Affordable, Accessible Investing in Australia. Seize Opportunities with Reduced Costs Now
Saxo Australia Fee Cut: Significant Reduction in Brokerage Fees. The adjustments, effective immediately, include a remarkable 87% reduction for US markets and a notable 62% cut for the Australian Securities Exchange (ASX). Saxo clients now benefit from an all-encompassing pricing structure that offers incredibly low fees for various markets. Notably, trading US equities now costs as little as USD 1, with UK equities tradable for as low as GBP 3 and ASX equities for a mere AUD 3.
Furthermore, Saxo clients engaging in products such as Exchange Traded Funds (ETFs), Exchange Traded Products (ETPs), Listed Options, and Futures will enjoy substantial cost reductions, with up to a 70% decrease in fees for AUD-denominated futures contracts. For those venturing into global markets, Saxo has slashed currency conversion fees by two-thirds, now standing at a market-leading 0.25%. This reduction enables Saxo clients to maintain funds in 11 different currency “sub-accounts” at an affordable rate, saving considerably on foreign exchange fees during trading.
Adam Smith, CEO of Saxo Australia, emphasized the company’s commitment to empowering clients in an increasingly expensive environment. Smith stated, “As the cost of living continues to creep upwards for many, we strongly believe our clients should still be able to invest in their future and make the most of their money and investments.”
Smith elaborated on Saxo’s mission, stating, “We aim to make prices more competitive, especially on our ‘home’ ASX, facilitating easier investment for both new and existing clients in 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.”
The changes introduced by Saxo encompass a variety of aspects, including a global and competitive approach to all variable and minimum fees, standardized currency conversion fees for automated transactions across all markets (with a 0.25% FX rate markup), and the removal of all inactivity fees. Saxo Capital Markets’ move is expected to profoundly impact the Australian investment landscape, providing investors with competitive and transparent pricing structures, fostering long-term financial growth.
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