Saxo Markets Lowers Commission for Retail Clients in Hong Kong

Saxo Markets, a wholly owned subsidiary of Saxo Bank, has 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.

According to the official press release, Saxo has lowered 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.

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At the same time, the company also announced to abolish the existing custody fee (0.12% for HK equities) and inactivity fee (USD200/annum) with no other monthly fee, platform fee or dividend collection fee.

In terms of 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.

As Fazzaco reported yesterday, Saxo Markets has appointed Manish Prasad as Head of Asset Management, Asia Pacific (APAC)​. 

Based in Sydney, Australia, Prasad will work closely with the teams in other APAC markets, including Singapore and Hong Kong, as well as with teams based in Copenhagen, to bring Saxo's upcoming asset management offerings to the region.