Saxo Capital Markets Secures New Licenses From The SFC
Saxo Capital Markets HK Limited is a subsidiary of Saxo Bank. In securing Type 4 and Type 9 licenses in the special administrative region, the broker can provide guidance on securities and introduce asset management services. Read on for the latest details.
New SFC Licenses
In obtaining the latest licenses, the Denmark-headquartered broker can expand its footprint in the wealth and asset management space. The brokerage can utilise its current fintech services to provide tailored asset management solutions with competitive fees. This follows the introduction of SaxoInvestor – a user-friendly online platform that facilitates investments in securities and mutual funds.
Lester Chan, Head of Wealth Management at Saxo, commented: “Investors in Hong Kong now are very much digital-savvy. They are looking for an easy-to-use platform that can provide tailor-made solutions based on their financial situations, and can handle their needs through one single account with top-level professional assistance.”
The company entered the region in 2011 and has since been operating with Type 1, 2 and 13 licenses from the Securities and Futures Commission. The latest regulatory agreement is a reassuring sign that the broker has established itself as a reputable financial services provider in the area.
Saxo Markets Hong Kong CEO, Richard Douglas, added: “The licenses give us greater room to now provide more comprehensive services to clients, whether they want to trade global capital markets or invest into their future. It’s especially meaningful for the Hong Kong office, as Hong Kong is a key growth market for Saxo and the gateway connected to mainland China.”
Saxo offers trading on more than 40,000 equities and forex assets. Clients can get started with a minimum deposit of £500 and can utilise the broker’s powerful desktop and mobile trading platform. In addition to its SFC license, entities under the company umbrella have teamed up with multiple regulators, including the Danish FSA and the UK FCA.
Saxo offers four live account options, ranging from Classic to VIP. In return for greater deposits, traders benefit from extended news and research materials, tighter spreads and more hands-on customer support.
The latest regulatory developments at the Hong-Kong based entity will be welcomed by aspiring investors in the region. Clients will soon be able to access more personalised asset management services underpinned by a user-friendly digital platform.