- Forex broker Saxo Markets Singaporesaw a huge rise in Client Onboarding which jumped by 24% in H1.
- Youthful persons getting into the markets with a staggering 75% of new traders on platform below 40 years old.
- Milestone of SGD10 billion ($7.45 billion) in clients’ assets also reached.
It’s been a boon first half of the year for the forex broker Saxo Markets Singapore. The Monetary Authority of Singapore (MAS) regulated broker revealed its key performance report for H1 of 2021 that included some excellent results.
One of these stellar results was the key milestone of $10 billion SGD ($7.45 billion) in clients’ assets. Saxo Markets Singapore also added an impressive 24% more traders during these six months. Powerful market momentum was also a main driving factor behind this extremely strong performance.
Saxo Markets’ APAC CEO Adam Reynolds was understandably upbeat about these results.
“In Singapore, the momentum has been strong, and we are excited to continue enabling more people to make more informed investment decisions”, Reynolds said.
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Forex Broker Seeing A Huge Increase In Young Traders with A 97% Leap In Active Traders
There’s been a huge increase in the young population’s interest in trading. Saxo’s figures show that the number of traders who are under 40 years old made up a whopping 75% of the total new traders. The number of active monthly traders was up by around 97 percent when compared to the same period of last year.
There has also been a considerable increase in women traders according to Saxo’s figures. An impressive 30% of the new traders on Saxo were women whilst the rise of female traders in the Singapore entity was a mind-boggling 410%. For Saxo markets as a whole, the rise was 354 percent, still a huge number.
“We have seen encouraging shifts in the market, such as younger traders and investors, and more than 30 percent of our new clients being female, which is more than the industry average,” Reynolds commented.
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Impressive figures from Saxo Markets Singapore Come Just After Excellent results For the Saxo Group
Danish based forex broker Saxo Bank reported excellent financial figures for the first six months of the year. Operating profit was up to DKK 2.4 billion in H1 of 2021. This was a small increase of 0.1 billion from the 2.3 billion DKK in 2020 registered in H1 2020. Net profit was down to DKK 512 million when compared to DKK 529 million for H1 2020.
“As many countries now slowly transition to a more normal state of affairs, we continue to see an increased interest in investing from both experienced investors and the many individuals investing their savings for the first time”, Saxo APAC CEO Adam Reynolds said.
The Saxo Bank CEO also said that this marks an acceleration of a global trend in motion before the pandemic, of more people taking greater ownership and control of their savings and investments.
“This greater participation and empowerment of retail investors will continue to be a dominant market force for the foreseeable future.” Reynolds concluded.
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Gerald Fenech
