Saxo Markets launches pricing plans amid brokers selling flow to hedge funds

Rick Steves

“I do not believe that clients should have to have their broker sell their flow to hedge funds to get great pricing.”

Saxo Markets has launched pricing plans for clients in Singapore, the first international market where Saxo is rolling out its new product, with more markets to follow in the future.

Saxo is the first in the investment and brokerage space to offer bundle packages for investors. The pricing plans are open to all new clients in Singapore and will be made available to existing clients in the coming months.

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.

Alternative to brokers selling flow to hedge funds

Saxo Markets’ proprietary research showed that investors in Singapore value more data feeds and free trades and less custody fees.

The broker has gone live with pricing plans to address feedback from real clients. The elements that go into each bundle plan are carefully curated, hand-picked by pricing and product specialists in Saxo to best reflect client needs, the firm stated.

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.

Adam Reynolds, Chief Executive Officer APAC at Saxo Markets, commented: “We are excited to be bringing the bundle plans to our clients in Singapore. I do not believe that clients should have to have their broker sell their flow to hedge funds to get great pricing. Our pricing plans are designed with our clients in mind – for a very reasonable monthly charge, they contain all of the services and access that they have told us they love, and we have also removed the items that they don’t enjoy.

“We firmly believe in providing long term value for our clients, and the commitment from the clients in the form of choosing a pricing plan not only reduces costs and complexities for them, but also brings them much more value than the basic monthly bundle price. We’re giving Singaporeans more choice and control; they can remain on a plan with no monthly charge and their current rates if that suits them best”, Reynolds continued.

“There are already many things that bring stress and complexities to people’s lives. At Saxo, we believe access to financial markets and investing for the future should be made more accessible for more people. The pricing plans, with their simplicity and the great value that they bring, will make investing a more enjoyable and fuss-free experience for many more people in Singapore.”

Saxo waives monthly fees depending on “Saxo points”

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.

“We believe this is game-changing for investors and traders because this not only gives them more bang for their buck when it comes to managing their investment activities, it also creates more transparency in where their money is going when they use a broker. At Saxo, we believe there is no free lunch in the world, and the hidden fees behind some of our competitor’s low commissions are not often discussed. We are here to make things simpler and more transparent for investors, and the pricing plan is another step in our commitment to that,” Reynolds adds.

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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