Saxo Markets launches Close the Gender Gap program

Online trading and investment specialist Saxo Markets today announces the launch of a new referral program, Close the Gender Gap, designed to encourage more women to start investing in order to close the gender investment gap and take better ownership of their financial future.

“While the gender wage gap has been in the spotlight the past few years, and takes individual and systemic efforts to close, the gender investment gap is one that we at Saxo believe we all have the power to narrow – by giving more women the tools, knowledge and confidence to trade and invest, and make informed investment decisions,” Maria Jelen, Regional Head of Relationship Management and Sales Trading APAC, Saxo Markets, said.

“In 2020, Saxo globally saw an increase in new women investors by 354 percent compared to 288 percent for men, which is very encouraging. In Singapore, we have likewise seen a sharp uptick in new female clients of 410 percent, and we are committed to enabling more women fulfil their financial aspirations and make an impact,” Jelen added.

In response to client preferences and more investors coming into the markets, the Close the Gender Gap referral programme is part of Saxo’s ongoing efforts to make trading and investing more appealing for women, to help female investors to get started and get better at investing.

By referring a female friend, existing female clients can earn up to SGD 750 per referral and unlock additional rewards, such as books, spa treatment, visit to attractions, and shopping vouchers. The perks supplement the full access to educational content on Saxo’s intuitive platform, expert insights, low fees, quick online account opening, and a dedicated client service team available to clients.

Data from 2018 shows that the pay gap for women in Singapore leaves them earning 16.3 percent less than men when comparing the median pay, and 6 percent less when adjusted for factors such as industry, occupation, age and education.

From Saxo’s data, the investor client segment in Singapore is still predominantly a men’s world – over 70 percent of clients are men – which indicates room to grow when it comes to getting more women to participate in the capital markets.

“By not investing, women are setting themselves back when it comes to taking control of their financial future. The investment gap is one that women can solve themselves by taking action today, and we want to make it more aspirational for women if they can bring a friend along the investing journey. Investing is a straightforward way to significantly improve women’s financial wellbeing over time. Do your homework, make a plan and stick to it and you will thank yourself later,” Suzy Han Shiqi, Deputy Head of Digital Sales, Saxo Markets Singapore, said.

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