This document presents a new Radix-4 FFT algorithm that reduces the number of operations by 6% compared to the standard Radix-4 FFT algorithm. The new algorithm uses a scaling factor to divide and multiply terms, avoiding some multiplications while maintaining arithmetic accuracy. Simulation results on a 4096 point DFT show the new algorithm produces identical results to the standard Radix-4 FFT in terms of magnitude and phase. The new algorithm is suitable for ASIC implementations as it is symmetric unlike split radix FFTs.