Saxo Capital Markets (Australia) Limited, a subsidiary of Saxo Bank A/S, has adjusted fees to offer a market-leading pricing model.
Adam Smith, Managing Director of Saxo Australia, said that brokerage fees have been reduced by 87% for US markets and 62% for trading on the ASX.
From January 15, investors can buy and sell Australian shares on the Saxo platform for as little as $3, the US for $1, and the UK for £3.
In addition, Saxo Capital Markets users will be able to take advantage of up to 70% price reductions on products such as exchange-traded funds (ETFs), exchange-traded products (ETPs), listed options, and futures, including Australian dollar futures, Australian FinTech reported.
Currency conversion fees have been reduced by two-thirds to 0.25 percent, which will save traders costs when trading foreign exchange.
"Our clients should be able to invest in their future and get the best value for their money and investment," said Adam Smith.
"We want to make it easier for new and existing clients to invest and stay invested in the financial markets," he added.
The reduction in fees demonstrates Saxo's client-centric approach and the broker's increased focus on the security of clients' funds and assets.
Saxo has reduced the cost of trading ASX stocks and ETFs from $6.99 to $5 in 2021. For traders of US stocks and ETFs, from $9.90 to $4.
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