Saxo launches SaxoSelect in Australia, offering managed portfolios
Saxo Australia has published a media statement announcing the launch of SaxoSelect, an investment service that enables everyone to diversify their investments under expert opinion. SaxoSelect is a fully digital service wherein expert investors manage the wealth of other investors looking to diversify their portfolios with global investments.
Talking about SaxoSelect, Adam Smith has said that the launch in Australia is in response to the rising appetite of investors for alternative wealth strategies. It has grown along with digital access to global capital markets and innovation.
The Chief Executive Officer of Saxo Australia has further said that control and transparency are a few things that investors need, and SaxoSelect can offer those. Adam has highlighted that the service is about managing wealth at an affordable rate.
SaxoSelect has gone through the soft launch period, where the response was significant. This has paved the way for the service to become fully operational and enable Australian traders to take charge of their future.
Considering the development, it is right to assume that Saxo Bank is the best online forex broker a region can have. The investors that manage the diversified portfolios of traders are Brown Advisory, Blackrock, Nasdaq, MorningStar, and MacroFX. The service is only available to private banking clients with the aim of generating a return in the medium or long term.
While traders with short-term goals can get onboard, the design is ideally best for traders looking to stay around longer. There is no fee to withdraw, making it easier for everyone to test the platform; however, a minimum investment of $10,000 is required to access SaxoSelect. The service will hand over control to the traders, who can leverage other features, including real-time execution and live data on their trades.
An average fee of 0.95% applies, with no fees for entry or exit. SaxoSelect also waives custody fees in the best interest of its clients.
Per the press release, the launch of SaxoSelect is backed by the response to the soft launch and also by the fact that many investors felt priced out with the traditional wealth management services. Hence, they started looking for an alternative that could help them in the best possible manner. SMSF accounts have grown 4% on a year-over-year basis as of June 2022.
SaxoSelect is already operational throughout Europe and Asia, serving Saxo account holders exclusively. Customers can log out of the platform without incurring any fees at any moment. That is, SaxoSelect does not specify a minimum period for its clients. To clarify, the service is suited for investors with medium- to long-term aims, particularly traders with long-term financial objectives.
Saxo Bank operates in regions subject to regulatory compliance. This includes the UK, Denmark, Singapore, and Australia. A Saxo Bank forex review states that Saxo has a global presence in over 170 countries and offers more than 35,000 tradable assets.
SaxoSelect’s entry into the Australian market is expected to help traders manage their globally diversified portfolios as the market becomes more volatile.