Saxo, the Copenhagen-founded online trading and investment platform, has joined a new industry group representing investment platforms in the United Kingdom, a sector that has grown rapidly as more people turn to digital tools to manage their savings and investments.
The Platforms Association, founded in September 2024, brings together firms that run services such as tax-advantaged savings accounts, personal pensions and general investment accounts, as well as tools for financial advisers. The group was created to give the industry a unified voice as it navigates changes in technology, regulation and investor expectations.
The association is open to regulated firms across Britain and Europe that handle custody, settlement and the safeguarding of retail investor assets. Its remit has widened in recent months to include managed portfolio services and distribution, reflecting the expanding role of platforms in how individuals access markets.
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Advocates say the body is designed to improve communication with policymakers and regulators, to clarify rules for firms and advisers, and to push for greater operational efficiency. It also aims to coordinate around new technologies, help raise standards, and promote best practices across a fragmented sector.
Andrew Bresler, chief executive of Saxo’s UK arm, said joining the association was about ensuring that platforms have a stronger collective say as the sector matures. “A unified voice is essential to shape regulation and foster sustainable growth,” he said in a statement.
Keith Phillips, who leads the Platforms Association, described the group’s mission as part of a broader shift in how people invest. “Platforms are democratising investing, transforming how millions of retail investors and their advisers manage their financial futures,” he said. With rules evolving and responsibilities changing, he added, “sector-wide coordination is more important than ever.”
Rapid change in UK retail investing
The association comes at a moment of rapid change for the retail investing landscape in Britain. More consumers — particularly younger ones — are turning to online platforms, attracted by lower fees, wider product choice and a wave of marketing campaigns aimed at making investing feel more accessible. At the same time, regulators have stepped up scrutiny of how investment products are sold and how firms protect customer money.
Saxo itself has been riding this shift. The company, which first launched in Denmark in 1992 as one of the earliest providers of online trading, has seen significant growth in its UK business in recent years. A revamped pricing model and the launch of its “Flexible ISA” have helped fuel a 132 percent year-on-year increase in new global trading clients.
In Britain, Saxo said it is seeing particularly strong growth among younger and more diverse investors. Customers under 25 now make up 15 percent of new accounts, up from 9 percent in 2023, while the proportion of female clients has tripled to 18 percent.
The company operates in more than 20 languages and gives retail investors access to trade over 40,000 financial instruments worldwide from a single account. Alongside its direct-to-consumer business, Saxo also provides technology to more than 120 financial institutions through open-banking partnerships. It holds four banking licenses and manages client assets of more than US$100 billion globally.
Industry observers say the decision by firms such as Saxo to join the Platforms Association reflects a recognition that online brokers and investment platforms are no longer niche players, but central to how millions of people in Britain and beyond invest. By acting collectively, the hope is that the industry can influence policy, smooth out operational challenges and build greater trust among customers who are placing ever larger sums into digital hands.
