Japan’s largest online brokerage is seeking to lure a younger generation by cutting commission fees on trading of domestic stocks to zero.
SBI Holdings Inc. will implement a series of campaigns that will virtually eliminate commission fee for spot trading in equities, the financial conglomerate said in a statement Tuesday. Among the deals on offer is a rebate for clients between the ages of 20 and 25 for all commissions on trading of Japanese stocks.
The announcement comes as competition intensifies in an industry aiming to boost younger customers as the country’s population grays, with Nomura Holdings Inc. forming a venture with messaging app Line to expand its reach. It also coincides with a surge of interest in stock trading spurred by the pandemic — SBI’s accounts surged to pass 6 million as of March.