Saxo launches fractional CFD trading of S&P 500, Nasdaq 100, and Dow Jones, and more

Rick Steves

Trading in fractional amounts does not incur higher trading costs since the normal spreads will simply be divided by the fractional amount when clients submit their orders.

Saxo Bank has introduced fractional amounts and extended hours for Index CFDs in a move to enable users to fine-tune their exposure and gain more trading flexibility and control.

The new functionality has been added to the trading platform since the beginning of the year, thus allowing customers to trade CFD Index trackers with fractional amounts as low as 0.01 contracts.

Fractional trading and more time to trade Index CFDs

In addition to the allowing suers to trade in fractional amounts, the online trading platform has extended the time period of Index CFD trading, notably the US500 (S&P 500 Index), USNAS100 (Nasdaq 100 Index) and US30 (Dow Jones Industrial Average).

The CFD products covering the three major US indices – the S&P 500, the Nasdaq 100, and the Dow Jones Industrial Average – have all been extended with 1 hour and 1 minute.

These three instruments can now be traded between 18 EST and 17 EST, allowing traders to take advantage of the opportunity to react to events that occur both before and after the exchanges open and close.

As to trading costs of adding the fractional trading functionality, the FX and CFD broker ensured they stay the same since the normal spreads will simply be divided by the fractional amount when clients submit their orders.

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Saxo tries out subscription service in Singapore

In December, the Saxo Markets operation in Singapore launched an innovative product that addresses some of the conflicts of interest issues pointed out by some within the industry, namely the selling of client flows to hedge funds.

To address that, Saxo launched pricing plans for clients in Singapore, thus becoming the first in the investment and brokerage space to offer bundle packages for investors.

The Gold plan will be available to new clients for free until 31 March 2022. An SGD88 extra commission credit will be added as a welcome bonus.

The Gold bundle seems to be the most accessible and efficient package to meet their investing needs, according to the research and insights from real clients.

The pricing plans are open to all new clients in Singapore and will be made available to existing clients in the coming months. The broker intends to expand the pricing plans offering to more markets in the future.

Saxo is waiving monthly fees for investors who upgrade their accounts if they earn enough Saxo points by trading.

An investor who signs on for the Platinum pricing plan pays SGD45 per month – this is waived if they earn 45,000 Saxo points, plus they get the same amount worth of commission credit, which they can use toward trading commission costs.

The Platinum pricing plan offers access to free real time price data on US, EU, UK, CH and SG stocks (combined value of over SGD100) and they get to trade at a better price.

Pricing plans from Silver to Diamond have no custody fee for clients who opt into Securities Lending, which lets Saxo borrow eligible securities from clients. For the securities loaned out, clients receive a monthly payment of any extra revenue generated by the loan. Silver to Diamond accounts also do not require minimum account funding.

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