Multi-asset trading and investing fintech specialist, Saxo Capital Markets, has launched new pricing structure for new clients.
Under the new structure, clients would be able to trade Australian stocks from $6.99 which was, according to Saxo, close to 40 per cent less than what competitors typically charged.
The company also said clients could for example trade AUD/USD from 0.5 pips and EUR/JPY from 0.9 pips.
The new pricing scheme would be additionally aligned with three clients segment (classic, platinum, VIP) and asset classes which meant that a client trading one asset class would also be offered “sharper pricing” on all other asset classes, it said.
Commenting on the new pricing, Saxo’s chief executive, Ben Smoker, said the industry generally faced price compression and Saxo aimed to stay ahead of the curve.
“With our new pricing structure and recently launched upgraded platforms, our full package for clients has never been more competitive,” he said.
“It is crucial for the long-term risk and return profile for clients that portfolios span different asset classes and as multi-asset trading is our core competence, we want to support that even further with a better integrated price offering.”
Saxo provides multi-asset trading platforms which deliver access to global capital markets, including more than 100 global product and liquidity providers and over 35,000 financial instruments across asset classes.