Saxo Markets Singapore Reports 24% YoY Increase in New Clients in H1 - BrokersView
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Saxo Markets Singapore Reports 24% YoY Increase in New Clients in H1

Sep 08, 2021
Fazzaco

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Saxo Markets Singapore, a licensed subsidiary of Saxo Bank, has released its key performance metrics for the first six months of 2021. The company witnessed a 24% increase in the number of new active clients compared to the same period last year.

According to the report, the broker reached the milestone of SGD 10 billion in clients' assets, which is driven by strong momentum in the market and more compelling products that met the needs of clients.

The company's monthly trading clients in H1 2021 leaped 97% compared to the figure in the same period of the previous year.

In addition, the company saw a global trend of younger investors entering the market, as 75% percent of the new traders who joined Saxo were under 40 years old. Out of these new clients, over 30 percent were women, which is in line as well with the positive trend that Saxo saw last year.

"We are both proud and humbled that an increasing number of people continue to put their trust in us. In Singapore, the momentum has been strong and we are excited to continue enabling more people to make more informed investment decisions," Adam Reynolds, APAC CEO, Saxo Markets commented.

Last month, Saxo Bank has published its financial figures for the first half of 2021, showing a slight decrease in net profit on a YoY basis. The net profit slipped to DKK 512 million from DKK 529 million.