Saxo Launches Flexible ISA Amid 600% Surge in Demand

Saxo launches a fee-free Flexible ISA after a 591% surge in demand, offering investors greater flexibility and zero platform fees.

Key Points:

• Saxo Bank UK introduces a Flexible ISA amid a nearly six-fold increase in ISA demand in early 2025.
• New ISA offers no platform fee, low trading costs, and allows fund withdrawals without affecting the annual £20,000 allowance.

Saxo Bank UK has launched a new Flexible ISA in response to a dramatic spike in investor interest, as demand for its stocks and shares ISA soared by 591% in early 2025 compared to the same period last year.

The company introduced the fee-free Flexible ISA to give UK investors more agility in managing their savings. The new product allows clients to withdraw and replace funds within the same tax year without reducing their £20,000 annual ISA allowance. The account also boasts low trading costs, including US trades from $1, UK trades starting at £3, and foreign exchange fees as low as 0.25%, all without a platform fee.

Saxo reported that recent market turbulence has driven investors to seek more responsive investment tools. “At Saxo, we want our clients to feel empowered to make the most of their savings,” said Dan Squires, Chief Commercial Officer of Saxo UK. “Recent market volatility has underscored the need for agility and responsiveness when investing, and our new Flexible ISA reflects our commitment to providing our clients with this.”

The timing of Saxo’s announcement coincides with a broader surge in market uncertainty. The Cboe Volatility Index recently hit its highest point since early 2020, pushing investors to prioritize flexibility and control in their portfolios.

Saxo Launches Flexible ISA Amid 600% Surge in Demand

Saxo’s move positions it in a competitive race for ISA market share, following similar launches by rivals. XTB introduced a zero-fee ISA earlier this year, while CMC Invest rolled out ISA accounts featuring a savings product with a 4.85% annual equivalent rate (AER).

As part of its recent growth, Saxo also expanded its platform offerings. Investors now gain access to over 18,000 financial instruments—including stocks, ETFs, bonds, and mutual funds—through a single account, aiming to support diversification and swift market rebalancing.

The company credited its new pricing structure, introduced in January 2024, for a 132% increase in new trading clients. Saxo eliminated custody and platform fees and cut trading commissions, moves that have significantly boosted engagement. Women and younger investors are driving much of that growth; the number of female clients tripled to 18% of new UK sign-ups, while the proportion of clients under 25 jumped from 9% to 15%.

Meanwhile, Saxo Bank’s ownership structure is set to shift dramatically. In March, Swiss private bank J. Safra Sarasin agreed to acquire a 70% stake in the company in a €1.1 billion deal that values the firm at approximately €1.6 billion.

Despite the momentum, Saxo expects revenue to dip in 2025 as it restructures its distribution model and scales back operations in some markets. The firm disclosed in its annual report that it ended several client relationships in 2024 as part of its long-term strategic overhaul.

Still, Saxo remains optimistic that its new Flexible ISA, along with recent structural changes, will position it for sustained growth in an increasingly competitive UK investment landscape.

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