Saxo Markets Australia Lowers Cost of Trading on US and ASX Equities

Saxo Markets Australia, a online trading and investment specialist and a wholly owned subsidiary of Saxo Bank, today announced a suite of price reductions designed to provide Australian investors lower costs when trading ASX and US equities.

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According to the official press release, Saxo Markets Australia will lower its minimum commission to AUD 5, down from AUD 6.99 for ASX shares and ETFs, and to a minimum of USD 4 , down from USD 9.90 for US shares and ETFs, starting from today.

At the same time, the company also announced to offer foreign currency accounts so that investors can save on FX conversion fees when trading international markets. With the foreign currency account, investors can avoid paying an FX conversion fee on each trade. The conversion fees only apply when they deposit or withdraw funds from the foreign currency account.

“Despite new entrants offering zero commission in the market, Saxo will still be one of the best priced brokers for ASX and US equities when taking account of all trading costs. Saxo’s commission and fee structure is transparent, with no platform fees and no inactivity fees,”the company stated.

Last month, Saxo Markets announced a suite of price reductions for retail clients in Hong Kong​, allowing them to invest in the global capital markets at some of the lowest rates available.