Saxo Markets has announced the launch of pricing plans for all new clients in Singapore. The service will be made available to existing clients in the coming months.
No flows given
Saxo is the first in the investment and brokerage space to offer bundle packages for investors, a move that counters the norm of clients having their broker selling their flow to hedge funds for better pricing.
Singapore is the first international market where Saxo is rolling out its pricing plans, but the broker intends to expand to more markets in the future.
New clients who sign up now can enjoy the Gold plan for free until 31 March 2022, plus SGD88 extra commission credit as a welcome bonus, the broker announced.
Investors in Singapore value more data feeds and free trades, for instance, and less custody fees, according to industry research. Saxo addresses this profile as it launches the new product under a subscription model.
The Gold bundle is said to be the most accessible and efficient package to meet clients’ investing needs.
Adam Reynolds, APAC CEO, Saxo Markets, said: “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.”
“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,” Reynolds adds.
What investors can look forward to:
If upgrading from the free account, for a monthly charge from SGD5 up to SGD145, investors can choose the package that best meets their investing and trading needs. This monthly fee will be waived if clients earn enough Saxo points by trading.
For example, 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. Under this bundle, they get access to free real time price data on US, EU, UK, CH and SG stocks, which has a combined value of over SGD100, and they get to trade at a better price, as well as access a wealth of inspirational content that can help them make more informed investment decisions.
In addition, the 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. Investors will always be able to see which securities are on loan and how much revenue (if any) they have earned. Silver to Diamond accounts also do not require minimum account funding, offering investors a lot more freedom and transparency.
