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Retail FX

Crypto Market to Reach $10T, USD to Drop 30% against Gold: Saxo’s “Outrageous Prediction”

  • The “Outrageous Predictions” are highly unlikely to happen, but sometimes they come true.
  • Saxo accurately predicted the rise of Bitcoin and Brexit, among other events.
Wednesday, 04/12/2024 | 08:10 GMT by Arnab Shome
Retail FX

Saxo and novobanco Collaborate to Drive Digital Investment Access in Portugal

  • The collaboration improves novobanco’s services with advanced trading and analytical tools.
  • Portuguese investors are seeking digital solutions with diverse investment options.
Friday, 22/11/2024 | 12:19 GMT by Tareq Sikder
Executive Moves

Saxo Bank Splits Adam Reynolds’ Role after His Exit: Names Two Successors

  • Reynolds, who previously held the role of APAC and Singapore CEO at Saxo, stepped down recently.
  • Now, Damian Hitchen is appointed as Regional Head of APAC and MENA, and Mahesh Sethuraman as the Singapore CEO.
Tuesday, 12/11/2024 | 07:36 GMT by Arnab Shome
Retail FX

Saxo Bank Draws Acquisition Bids from Major Investors, Including Interactive Brokers

  • Altor and Centerbridge have reportedly submitted non-binding offers for Saxo Bank.
  • Saxo Bank began exploring new ownership in July by appointing Goldman Sachs as its advisor.
Monday, 21/10/2024 | 15:21 GMT by Jared Kirui
Brokers

Saxo UK Posts 7% Profit Gain as AUM Hits £2 Billion Mark

  • Saxo's UK arm added 4,000 clients and reported a net profit of £11.2 million.
  • The trading revenue, however, remained relatively stable at almost £28 million.
Wednesday, 16/10/2024 | 07:17 GMT by Damian Chmiel
Retail FX

Saxo Expands Offerings for “Buy-and-Hold Investors”: Launches SaxoInvestor in the UK

  • The new platform offers various instruments, including stocks, ETFs, bonds, and mutual funds.
  • It is offering low commissions and 0.25 percent FX fees.
Wednesday, 02/10/2024 | 08:07 GMT by Arnab Shome
Retail FX

Saxo Closes Hong Kong and Shanghai Offices, Focuses on Singapore

  • The firm cites “geopolitical changes” in Hong Kong as a key reason for the office closure.
  • The company posted a $4.3 million loss from its Hong Kong operations in 2023.
Monday, 30/09/2024 | 08:26 GMT by Tareq Sikder
Retail FX

Saxo Bank Reports 35% Profit Increase for H1 amid Restructuring

  • The bank’s total income increased to EUR 311 million, despite low market volatility.
  • Client assets hit EUR 109 billion, with over 1.2 million clients as of June 2024.
Thursday, 29/08/2024 | 11:27 GMT by Tareq Sikder
Retail FX

Saxo Bank Initiates Strategic Review Led by Major Shareholders

  • The firm manages assets exceeding DKK 800 billion from over 1.2 million clients.
  • Goldman Sachs has been enlisted to advise during the strategic review process.
Thursday, 18/07/2024 | 12:44 GMT by Tareq Sikder
Retail FX

Saxo Bank’s FX Trading Volume Hits Bottom Again in June: Daily Average Recovers

  • The monthly volume with FX was $78.1 billion, while the daily average was $3.9 billion.
  • The overall monthly trading volume on the platform declined by 4.2 percent.
Thursday, 04/07/2024 | 07:11 GMT by Arnab Shome
Retail FX

Saxo Bank Initiates Asia Strategy Review, Seeks Partnerships

  • Saxo is exploring new partners for its operations in Australia, Japan and Hong Kong.
  • The company aims to leverage own technology while allowing partners to use their brands.
Monday, 17/06/2024 | 08:23 GMT by Damian Chmiel
Retail FX

Saxo Bank’s FX Volume in May Hits Bottom, Equities Demand Falls from the Peak

  • At $79.6 billion, the FX volume in May is the lowest since 2016.
  • Client assets on Saxo recently reached DKK 800 billion (about $116.1 billion).
Wednesday, 05/06/2024 | 06:23 GMT by Arnab Shome
Executives

Saxo Appoints Andrew Bresler as UK CEO

  • Bresler becomes Saxo UK's CEO on June 3, succeeding Simon Camilleri.
  • He brings experience from his previous roles at Saxo, Citibank, and InvestCloud.
Thursday, 30/05/2024 | 09:04 GMT by Tareq Sikder
Executives

Saxo Bank Names Casper Solbakken as the Global Head of Commercial Offering and Experience

  • Solbakken has worked for over 18 years at the Danish online trading and investment bank.
  • Since July last year, Solbakken was the Global Head of Products, Pricing, and Platforms.
Wednesday, 22/05/2024 | 19:29 GMT by Jared Kirui
Retail FX

Saxo Bank Merges Sales and SXO Units, Names New Chief Commercial Officer

  • This step aims to provide cohesive and efficient service to clients.
  • Stig Christensen, the current Chief Sales Officer, will lead the new entity as Chief Commercial Officer.
Tuesday, 21/05/2024 | 17:49 GMT by Jared Kirui
Retail FX

Client Assets on Saxo Hit DKK 800 Billion

  • The brokerage added DKK 650 billion in client assets in the last six years.
  • It has more than 1.2 million clients globally.
Friday, 17/05/2024 | 08:23 GMT by Arnab Shome
Retail FX

Saxo's Ownership Change: Sampo Sells 19.8% Stake in the Brokerage

  • The sale came as a part of the demerger process of Sampo and Mandatum.
  • The two companies have set the price of the transaction to EUR 302 million.
Wednesday, 08/05/2024 | 08:56 GMT by Arnab Shome
Retail FX

Saxo Bank’s FX Volume Recovers in April, Equities Hit Record

  • FX demand recovered by 16.6 percent month-over-month but still remains low compared to other months.
  • Meanwhile, the equities volume reached $303.7 billion, a record on the platform.
Friday, 03/05/2024 | 07:20 GMT by Arnab Shome
Retail FX

Saxo Bank’s Co-Founder Invests in Crypto Trading Algo Firm

  • The investment was made through Lars Seier Christensen’s investment arm.
  • Christensen divested his stakes in Saxo in 2017.
Tuesday, 23/04/2024 | 05:51 GMT by Arnab Shome
Retail FX

Saxo Bank Contemplates €2B Sale, Seeks Investment Advisors: Report

  • The Danish investment bank’s options include the sale of its minority or majority stake.
  • This latest development follows failed merger talks 18 months ago.
Tuesday, 16/04/2024 | 20:19 GMT by Jared Kirui
Retail FX

Saxo Bank's Chief Economist Retires after 20 Years of Service

  • Steen Jakobsen steps down, leaving a legacy of insightful research.
  • He was the architect of Saxo Strats and Outrageous Predictions.
Thursday, 04/04/2024 | 08:40 GMT by Damian Chmiel
Retail FX

FX Demand on Saxo Bank in March Hits Lowest since at Least 2016

  • The monthly volume of FX for March came in at $85.1 billion.
  • However, demand for equities picked up, with a month-over-month jump of 10 percent.
Thursday, 04/04/2024 | 06:26 GMT by Arnab Shome
Retail FX

S&P Upgrades Saxo Bank's Credit Rating: Broker Scores A-

  • The rating agency updates Saxo's rating from BBB due to the solid profitability.
  • A- is one of the seven highest ratings awarded by S&P.
Tuesday, 02/04/2024 | 09:29 GMT by Damian Chmiel
Executive Moves

Saxo Bank Gets New COO for MENA Region with an Internal Promotion

  • Tara Tyan has been a part of Saxo Bank for about six years.
  • She also worked at Equiti, FxPro, and Easy Forex.
Friday, 22/03/2024 | 07:28 GMT by Arnab Shome
Brokers

FX Demand on Saxo Bank Drops in February: Lowest in 2 Years

  • The forex volume for the month fell 15.4 percent month-over-month.
  • While the forex daily average dropped, the figure remained the same or increased for other asset classes.
Tuesday, 05/03/2024 | 09:14 GMT by Arnab Shome
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