Saxo Markets announces price reductions for HK retail clients

Online trading and investment specialist Saxo Markets has announced a suite of price reductions which are designed to allow more of its retail clients in Hong Kong to invest in the global capital markets at some of the lowest rates available.

Saxo is lowering commission to 0.05% (down from 0.08%) with a HKD18 minimum charge (down from HKD40) for HK equities; and commission to USD0.005-0.008/share (down from USD0.007-0.01/share, subject to trading volume) with a USD3 minimum charge (down from USD10) for US equities.

The existing custody fee (0.12% for HK equities) and inactivity fee (USD200/annum) will both be abolished with no other monthly fee, platform fee or dividend collection fee, which is very competitive in the market.

For margin lending, Saxo is reducing the rate to 1.97%-3.97% (subject to trading volume) for HK equities and to 1.58%-2.98% (subject to trading volume) for US equities. HK IPO financing rate remains at 0%.

No new fees are being introduced.

Richard Douglas, Hong Kong CEO, Saxo Markets, comments,

“Hong Kong is a key growth market for Saxo. As we serve more clients in the region than ever before, we found that complexities in pricing structures are often cited as challenges for clients investing in the markets.

In addition to our award-winning platform, premium customer service, and insightful and leading research and education content, Saxo also now provides some of the most competitive pricing in the Hong Kong market. The pricing adjustments reflect our Saxo vision to always support our clients in fulfilling their financial aspirations and to make an impact.”

Additional information can be found here.