Saxo goes to war on ‘hidden’ broker fees with transparent, market-leading price model

Saxo goes to war on ‘hidden’ broker fees with transparent, market-leading price model

Saxo, a global leader in online trading and investment, has reduced its brokerage fees by up to 87% for US markets and up to 62% for the ASX to help Australian investors make more of their money and prosper.

Saxo clients can now enjoy razor-sharp, all-inclusive pricing – no strings attached – on brokerage and other trading fees, trading US equities for as little as USD 1, UK equities for as little as GBP 3, and the local ASX for as little as AUD 3.

They will also enjoy reduced prices on products such as Exchange Traded Funds (ETFs), Exchange Traded Products (ETPs), Listed Options and Futures – including as much as 70% less for AUD-denominated futures contracts.

For those trading in global markets, currency conversion fees have dropped two thirds to a market-leading 0.25%, enabling Saxo clients to affordably hold funds in 11 different currency “sub-accounts” and save on FX fees when trading.

The reductions in brokerage and other trading fees will sit alongside Saxo’s ongoing commitment to premium, in-person client service, its world-leading strategist team, and its focus on the safety and security of client funds and assets.

This will help more people seize opportunities in global capital markets in 2024, “shrinking the world” and enabling Aussie investors and traders to geographically diversify, build wealth and obtain financial freedom.

“As the cost of living continues to creep upwards for many, we strongly believe our clients should still be able to invest into their future and make the most of their money and investments,” Saxo Australia CEO Adam Smith (pictured) says.

“By making prices much more competitive in the markets that Saxo operates in, particularly our ‘home’ ASX, we want to make it easier for new and existing clients to be invested and stay invested in the financial markets.

“Saxo’s global scale enables us to offer even better prices, and marks another huge step in establishing enduring win-win relationships with our clients.”

What can Australian investors expect from Saxo’s price changes?

  • Transaction Based: A global and competitive approach to all variable and minimum fees, including as little as AUD 3 for ASX equities
  • Currency Conversion Fees: Fee standardisation for automated currency conversions across all markets (0.25% FX rate mark-up)
  • Inactivity Fees: Removal of all inactivity fees


How does this compare?* Broker ASX brokerage US brokerage Currency conversion fee (FX rate mark-up) Multi-currency cash balance capacity
Saxo Australia Min AUD 3Min USD 10.25%Yes (11 currency sub-accounts)
Stake Min AUD 3Min USD 30.70%Yes (AUD, USD)
CommSec (standard) Min AUD 5 (post-promotion)Min USD 50.55%No, unless on CommSec International Shares Plus
SelfWealth AUD 9.50USD 9.500.60%Yes (AUD, USD, HKD)

* Based on brokerage costs as of 12 January 2024.


In 2023, Saxo reached a historic milestone of one million end clients, and surpassed USD 100 billion in client assets globally. In addition, the Copenhagen-headquartered company was also appointed a Systemically Important Financial Institution (SIFI) by the Danish Financial Supervisory Authority (FSA), and received an investment grade rating from S&P. This highlights Saxo’s strong capital position and business model, as well as its cautious approach to risk management.

For more details on the price changes, please see here.