February 26, 2024
Business

Saxo Bank Surpasses 1 Million Clients

Dubai, United Arab Emirates, 20 June 2023: Saxo Bank, which offers online trading platforms, investing, and wealth management solutions, announces a new milestone as it passes 1 million clients, showcasing that more people are starting to take control of their own investments. This milestone comes shortly after the recent news that its client assets globally have crossed the USD 100 billion mark.

In a world where more and more individuals are choosing to take active control of their wealth and investments, Saxo Bank is thrilled to announce its latest milestone: supporting over 1 million clients. This achievement reflects the global trend towards people taking greater control of their savings and the rising use of digital platforms. This milestone follows the recent news that Saxo Bank’s client assets have crossed the mark of USD 100 billion.

Both milestones demonstrate the trust and support from Saxo Bank’s clients and partners as the company saw steady growth in the number of clients and assets in the past years, solidifying its position as a leading financial and technology services provider amidst a challenging macroeconomic environment.

Kim Fournais, Founder and CEO, commented:

“I would like to extend a big thank you to all our passionate and committed employees who are behind our award-winning platforms that every day do their best to ensure that our growing client base can trade and invest across markets and asset classes. Likewise, we are humbled by the immense trust that our 1 million clients and partners around the world have placed in us – thank you to all of you.

We continue to see a positive trend with more people participating in the financial markets and putting their wealth to work using digital platforms like Saxo. This empowerment of investors has continued despite geopolitical uncertainties and high inflation levels, and we are proud to serve many of them across the world.

When I founded Saxo Bank back in 1992 on a shoestring budget and with just one employee, I wanted to make global capital markets accessible for more people. And now where more people globally seek ways to make their money work harder for them, we are ready to support them. I’m confident that it won’t take another 30 years for Saxo Bank to welcome its next million clients.”

In the past few years, Saxo Bank has doubled down on offering low-cost, efficient, innovative, and trustworthy trading and investment platforms and solutions for people who want to make more of their money. Unlike many other banks and brokers, Saxo Bank promptly passes on rate hikes to its clients, ensuring that they benefit from the increased interest rates automatically and immediately. This proactive approach empowers clients and partners to optimise their investment strategies while earning an attractive interest on uninvested cash, without any lock-ins or minimum holding periods. In turn, this enables Saxo Bank’s growing client base – in Europe, Asia Pacific, and MENA – to respond to emerging opportunities in the markets with agility and confidence.

Damian Hitchen, CEO of Saxo Bank in the Middle East added: “I am thrilled to celebrate this remarkable milestone of surpassing 1 million clients. It is a testament to the increasing number of individuals in the region who are embracing digital platforms and taking control of their investments.

Our commitment to providing low-cost, innovative, and reliable trading solutions has resonated strongly with investors in the Middle East. We are proud to offer a comprehensive suite of products and services tailored to meet their unique needs.

As we continue to expand our presence in the Middle East, we remain focused on fostering financial inclusion, driving economic growth, and supporting individuals in achieving their financial aspirations. We are excited about the future and eagerly anticipate serving the needs of our growing client base in the region.

Recently, Saxo Bank also announced that it had received a BBB rating with a positive outlook from S&P Global Ratings.

In addition, Saxo Bank is currently in the process of being appointed a Systemically Important Financial Institution (SIFI) later this year by the Danish Financial Supervisory Authority (FSA). The SIFI designation is given to financial institutions that are considered critically important to the functioning of the financial system.

Last Updated on 3 months by Editor

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