Saxo Bank Grows with Pricing Strategy Shift

Saxo Bank pricing strategy fueled a 132% rise in new trading accounts in 2024, driving significant client growth. The number of female clients tripled, while participation from younger investors under 25 increased significantly. This surge follows a strategic pricing overhaul, strengthening Saxo Bank’s market presence.

The broker attributes this growth to the pricing strategy change introduced a year ago, which has particularly strengthened its presence in the UK market. Female traders now represent 18% of new UK accounts, while younger investors under 25 account for 15%, up from 9% in 2023.

CEO of Saxo UK, Andrew Bresler, emphasized that the company’s pricing model reflects its commitment to providing best-in-class investment solutions at competitive rates. “He noted that the robust growth in client numbers across the UK and global markets demonstrates the strength of Saxo’s offering and attractive pricing.” The January 2024 pricing revision introduced substantial reductions for UK clients trading the US and domestic stocks, with commission rates starting at $1 for US trades and £3 for UK trades. 

Saxo Bank Grows with Pricing Strategy Shift

The broker also eliminated custody and platform fees and reduced currency conversion fees to 0.25% across all account types. Saxo Bank’s UK division has experienced visible growth, with assets under management reaching £2 billion and net profit increasing to £11.2 million in 2023, surpassing the previous year’s performance. 

Chief Commercial Officer Dan Squires highlighted that Saxo offers clients access to over 70,000 instruments globally, providing a wide range of investment opportunities. “He pointed out a notable shift in trading habits, as UK stocks were absent from the top 25 most traded instruments on the platform in 2024, with the S&P 500 leading in terms of value traded.” Two weeks ago, Saxo’s Australian branch saw a change in ownership 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 aligns with DMA’s expansion into the Australian market and Saxo Bank’s strategic shift 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 deal reflects broader efforts by both companies to strengthen their market presence and growth strategies.

Getting to Know the Stock Broker 

• Saxo Bank provides a premier multi-asset trading platform. 
• The platform offers over 70,000 tradable instruments, including forex, stocks, and bonds, and features exceptional research capabilities. 
• Also, traders benefit from an extensive toolkit and premium features. 
• Saxo Bank delivers a comprehensive and immersive trading experience. 

Also, Check out Stock Brokers Reviews for the latest enhancements and take your trading to the next level!