After last month’s announcement from Zuercher Kantonalbank about canceling annual fees for existing customers from the beginning of 2024, Saxo Bank Switzerland is now following this example and putting forward a price campaign.
Online trading platform Saxo Bank Switzerland is lowering its fees by up to 95 percent, it announced on Tuesday. The announcement also revealed that clients in Switzerland are due to profit in the long term from considerably lower fees, particularly when trading with Swiss and U.S. shares and products such as ETFs, exchange-listed options and futures.
Fees for currency conversion have also been lowered by a considerable degree, and deposit charges for bonds as well as inactivity fees have been removed completely. The lower prices have been in place since January 15, 2024.
More Than 100 Billion Dollars
«In today’s investment environment, the value that we offer our clients does not merely depend on our trading platforms and services, but also heavily on the cost efficiency of our solutions. Lower costs mean higher returns for our clients,» said Stanislav Kostyukhin, CEO of Saxo Bank Switzerland.
According to further statements, the requirement for these price cuts was met by the strong growth of clients and the associated volume effects. In 2023, Saxo also reached a historic milestone: one million clients and client assets of more than 100 billion dollars worldwide.
A Strategic Step
«Thanks to this scale and the associated volume effects, we have been able to reduce our fees by a considerable amount. This price reduction is a key strategic step which will allow us to create more win-win situations for our clients,» said Oliver Buomberger, deputy CEO & COO.
- You can find an overview of the new prices and fees here.
- You can find a comparison of prices and fees from Saxo Bank with the terms of other Swiss online trading providers here.
