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Saxo slashes fees for UK traders, abolishes inactivity fees


Online broker Saxo has made some significant pricing changes across many of its key markets, with a global roll out in the coming months. Saxo clients in United Kingdom can now enjoy substantial price reductions, especially when they trade US stocks and home market stocks, amongst other products such as ETFs, ETPs, listed options and futures.

From today (15th January 2024), Saxo customers now pay a minimum of $1 commission on US trades, and £3 commission on UK trades. The £7.95 custody fee has been removed, and a platform fee is no longer charged. Currency conversion fees have been slashed to 0.25% across all accounts.

Dan Squires, Head of UK Sales at Saxo UK explained further:

“In today’s investment landscape, the value we offer to our clients is very much linked to our ability to provide cost-effective solutions together with our award-winning platforms and services. Lower costs mean higher potential returns for our growing number of clients. As we cross the milestone of serving over 1 million clients globally, our scale enables us to significantly lower our fees and prices. This scale isn’t just a number – it’s a testament to the trust our clients place in us and a responsibility we take seriously to continuously seek ways to enhance their investment experience.”

Saxo says it offers the best multi-asset trading and investment platform, which gives customers access to over 70,000 instruments globally. The broker overlays that digital proposition with thought provoking content such as our strategy pieces, as well as technical signals, market news, webinars, blogs and other intelligence.

“Saxo gives customers the best possible chance of growing their wealth: in simple terms by keeping a lid on costs but having the best access to money making trades. We think that’s a win:win,” Squires added.

What can investors expect from Saxo’s price changes?

  • Transaction based: lower minimum commissions and overall commissions on trading.
  • Transparent currency conversion fees: standardisation of the bps fee for automated currency conversions across all markets.
  • No inactivity fees: removal of inactivity fees in all markets.

In 2023, Saxo reached a historic milestone of 1 million end clients and crossing USD 100 billion in client assets globally. In addition, the company, headquartered in Copenhagen, Denmark, was also appointed a Systemically Important Financial Institution (SIFI) by the Danish Financial Supervisory Authority (FSA), and received investment grade rating from S&P. This highlights Saxo’s strong capital position and business model, as well as its cautious approach to risk management.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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