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Commissions, Charges and Margin Schedule

Majors Retail Spread

Target Spread in Pips
EURUSD 2
GBPUSD 4
AUDUSD 3
EURCHF 3
EURGBP 3
EURJPY 3.5
GBPJPY 7
USDCAD 4
USDCHF 3
USDJPY 3

To view the full trading conditions on all Forex crosses click here

 
Commissions Charges and Margin

Minimum account sizes

USD 10,000  for a Classic Account
USD 100,000 for a Premium Account
USD 500,000 for a Platinum Account

Interest on funds deposited with Saxo Bank

Interest on main and sub-accounts

Interest on your main account is calculated on the Net Free Equity and interest on your sub-accounts is calculated on the Account Value.

However, since the Net Free Equity is calculated on open trade positions on all your accounts, it is important to make sure that sufficient cash is available on your main account. Otherwise, you risk being subject to a debit interest on your main account exceeding the credit interest payable on your sub-account(s).

Net Free Equity

Net Free Equity is defined as:

  • The cash balance on the main trading account
  • Plus or minus the value of any unrealised profits or losses from open trade exposures CFDs and futures on the main trading account
  • Minus the value of Saxo Bank's margin requirements for open trade positions on all accounts. For this purpose, margin requirements are a flat 2% for all FX positions and a flat 10% for all CFD positions.

Account Value

Account Value is defined as:

  • The cash balance on the individual sub-account
  • Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs, and futures on the sub-account.

 Calculation and settlement

Interest will be calculated daily and settled monthly - within seven business days after the end of each calendar month.

Product trading rates and conditions (Retail)

See our Forex trading rates and conditions
See our Forex option trading rates and conditions
See our CFD trading rates and conditions
See our Stock trading rates and conditions
See our Online Traded Futures contracts, trading rates and conditions
See our Offline Traded Futures contracts, trading rates and conditions
See our Managed Funds trading rates and conditions
See our Exchange Traded Funds trading rates and conditions
See our Bond trading rates and conditions

Currency Conversions

Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 17:00 New York time, plus/minus 0.5%. For FX Options the rate is plus/minus 0.1%.

 

Retail Interest Rates

The following interest rates apply to funds deposited with Saxo Bank:

  • Interest will not be paid on Net Free Equity up to USD 15,000 (or the currency equivalent)
  • For positive Net Free Equity exceeding USD 15,000 - interest will be paid at market bid rates minus 3% on the full amount
  • For negative Net Free Equity - interest will be charged at market ask rates plus 4%

Historic Forex Close Rates

These close rates to Danish Kroner (DKK) are used in the conversion of profits and losses and trading costs from trading activities. They are the mid-market conversion rates from the end of the day's trading at 1700h New York Time. These rates are for indication only and may differ slightly from the rates applied to your trading account.

 
All other currency conversions (including conversions of funds transferred to and from your account with Saxo Bank) will be done using the current spot rate plus/minus 0.5% when the amount is credited or debited from your account.

Institutional Interest rates

The following interest rates apply to funds deposited with Saxo Bank:

  • For positive Net Free Equity interest will be paid at market bid rates minus 1% on the full amount for all Account Values
  • For negative Net Free Equity interest will be charged at market ask rates plus 2% on the full amount for all Account Values.

 

 

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Risk Warning

Margin Trading carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.

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