Online trading and investment platform Saxo has experienced an increase in its client base following an aggressive pricing overhaul, with new trading accounts soaring 132% in 2024 compared to the previous year. Moreover, the number of female clients has tripled.

Saxo Reports Surge in UK Client Base After Price Cuts

The Danish-owned broker has seen particularly strong momentum in the UK market, where demographic shifts point to broader market participation. Female traders have emerged as a key growth segment, with new female client accounts tripling year-over-year to represent 18% of new UK accounts. Additionally, younger investors under 25 now comprise 15% of new clients, up from 9% in 2023.

"Our pricing model reflects our commitment to providing best-in-class investment solutions at competitive rates," said Andrew Bresler, CEO of Saxo UK. " Seeing such robust growth in our client numbers – both in the UK and globally across our markets – is a testament to the strength of our offering and attractive pricing.”

The surge follows Saxo's January 2024 pricing revision, which introduced significant reductions for UK clients trading US and domestic stocks. Commission rates now start at $1 for US trades and £3 for UK trades, while custody and platform fees have been eliminated. Currency conversion fees were reduced to 0.25% across all account types.

“Our clients have access to over 70,000 instruments globally, providing them with a breadth of investment opportunities,” adds Dan Squires, CCO at Saxo in the UK. “This also enables us to observe some interesting trends in trading and investing habits – in 2024, for instance, UK stocks were noticeably absent from the top 25 most traded instruments on our platform, with the S&P 500 dominating in terms of value traded.”