US residents
Please note that due to regulatory restrictions only Forex Spot, Forex OTC options, Saxo Bank Managed FX funds, Spot Gold and Silver can currently be offered to US residents.
Commissions for online traded contracts
These commissions are for each contract and for each trade (buy or sell) through SaxoTrader and exclude exchange fees which are listed under the contract specifications.
| Contract |
Trade Volume: Contracts/Month |
| Currency |
0 - 250 |
251 - 1.000 |
1.001 - 5.000 |
5.001 - 10.000 |
10.001 - 50.000 |
50.000 |
|
|
|
|
|
|
|
| AUD |
AUD 10.00 |
AUD 5.00 |
AUD 2.50 |
AUD 1.42 |
AUD 0.83 |
AUD 0.50 |
| EUR |
EUR 6.00 |
EUR 3.00 |
EUR 1.50 |
EUR 0.85 |
EUR 0.50 |
EUR 0.30 |
| GBP |
GBP 5.00 |
GBP 2.50 |
GBP 1.25 |
GBP 0.71 |
GBP 0.42 |
GBP 0.25 |
| SGD |
SGD 15.00 |
SGD 7.50 |
SGD 3.75 |
SGD 2.25 |
SGD 1.50 |
SGD 1.00 |
| USD |
USD 6.00 |
USD 3.00 |
USD 1.50 |
USD 0.85 |
USD 0.50 |
USD 0.30 |
| CHF |
CHF 8.00 |
CHF 4.00 |
CHF 2.00 |
CHF 1.13 |
CHF 0.67 |
CHF 0.40 |
| JPY |
JPY 1000.00 |
JPY 800.00 |
JPY 750.00 |
JPY 650.00 |
JPY 550.00 |
JPY 500.00 |
| SEK |
SEK 75 |
SEK 40 |
SEK 20 |
SEK 10 |
SEK 5 |
SEK 3 |
| CAD |
CAD 6.00 |
CAD 3.00 |
CAD 1.50 |
CAD 0.85 |
CAD 0.50 |
CAD 0.30 |
| HKD (Full-sized contracts) |
HKD 45 |
HKD 30 |
HKD 20 |
HKD 15 |
HKD 10 |
HKD 8 |
| HKD (Mini contracts) |
HKD 30 |
HKD 25 |
HKD 20 |
HKD 15 |
HKD 10 |
HKD 8 |
As a special introductory offer, Saxo Bank will offer trading of ALL HKD CONTRACTS AT MINI CONTRACT COMMISSION RATES until further notice.
These commissions are for each contract and for each trade (buy or sell) through SaxoTrader and exclude exchange fees which are listed under the contract specifications. The minimum commission per trade is USD 10, EUR 10, GBP 8, CHF 11, AUD 12.5, CAD 10, NZD 10, JPY 1200, SEK 100 or SGD 20.
If no agreement exists to the contrary, clients will be charged the highest price category in the table. Contact Saxo Bank to apply for another price category if applicable based on previous trading volumes. Moves to different price categories take place at the discretion of Saxo Bank and always take effect from the beginning of the following month without any adjustment in commissions already paid.
Commissions for offline-traded contracts
For contract futures not traded directly online, a commission fee of USD 15 per contract per trade is charged which includes exchange fees.
Support for Stop and Stop Limit orders
Stop and stop-limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the pop-up details for each contract.
Initial margin
The initial margins listed below are the collateral per contract that clients must have in their account to open a position.
Maintenance margin
Futures contracts are traded on margin enabling clients to leverage a small margin deposit for a much greater market effect.
Clients must maintain the Maintenance Margins listed per contract in their account at all times. If the funds in an account fall below this margin, clients will be subject to a margin call to either deposit more funds to cover positions or close positions — normally clients will be notified through our trading platform and via e-mail. If the margin situation is not remedied, Saxo Bank may close positions on a client’s behalf.
Partial Fills
Partial fills may occur on limit orders and the remaining amount stays in the market as a limit order and may be filled within the order duration.
Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.
Special conditions for SFE Futures Contracts
Orders Market
Market Orders are NOT accepted on all contracts. Please use limit orders to hit the bid/offer.
Limit Orders
A BUY Limit Order cannot be higher than the current offer and a SELL Limit Order cannot be lower than the current bid. If the market is moving at or around the time at which the order is placed, this order may be rejected by the exchange. Please repeat the process of placing the order again.
Stop Limit Orders
Stop Orders without Limits are not accepted on the platform.
The limit price specified within a Stop Limit Order cannot be more than three ticks from the trigger price.
In case of an order that was placed where the limit price is greater than 3 ticks from the trigger price, the order will appear as being accepted by the platform. However, please note that upon the trigger price being touched/breached, the order will NOT be executed. In such cases, the order will be removed from the system afterwards.
Expiry of Futures Contracts
Saxo Bank does not support physical delivery of the underlying security on expiry of a futures contract. Therefore, Saxo Bank advises clients take note of the expiry and first notice dates (FND) of any futures contracts in which they have positions and ensure they are closed before the appropriate day, as described below.
If the FND is before the expiry date, positions need to be closed the day before the FND. If the expiry date is before the FND positions need to be closed no later than on the expiry date.
If futures positions are not closed before the relevant date, Saxo Bank will close the position on the client's behalf at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to the client.
If clients require any assistance or clarification regarding the expiry of futures contracts, please contact Saxo Bank.
Conversion of profits and losses
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%.
Historic close rates