The United Kingdom subsidiary of multi-asset broker Saxo Bank, Saxo Capital Markets UK Ltd (Saxo), announced on Wednesday that is has launched a competitive pricing structure for new UK clients. According to the statement, new clients can save up to 40 percent in key products compared to its nearest competitors.
The new pricing structure is aligned across asset classes and three client segments: Classic, Platinum, and VIP. On the classic level, clients can trade the UK100 from 0.8 and GBPUSD from 0.7 pips. The pricing becomes sharper across the platinum and VIP segments. In addition, clients can trade UK stocks from £4.99.
Benefits of ESMA Regulation
The new pricing scheme is a bid by Saxo to increase its market share. Regulation from the European Securities and Markets Authority (ESMA), which puts a significant cap on leverage for retail traders, has leveled the playing field for the broker. Historically, Saxo has taken a stance to not compete on high Leverage .
Andrew Edwards
Commenting on the new pricing, Andrew Edwards, CEO, Saxo Capital Markets UK, said: “we are at a defining moment for the online investment and trading industry in the UK and we are thrilled to be able to offer a truly competitive package among UK brokers in a range of products."
“Our pricing is very competitive, but our core strengths such as depth of product offering, quality of platforms and service level are important for clients as well," he added. "With our new pricing structure and recently launched upgraded platforms, our full package for clients has never been more competitive."
Edwards stressed that Saxo Capital Markets sees the future in a positive light and believes it is ready for challenges to come.
“With new regulation coming in from ESMA and general price compression, we expect the coming years to be defining for our industry and we are very well placed to grow our market share in this environment,” he said.
Saxo has been operating in the UK market since 2006. It started off as a branch of Saxo Bank A/S, the parent company of the Saxo Bank Group, but was later established as a subsidiary. Saxo is authorized and regulated by the Financial Conduct Authority.
