​Stock Index Tracker CFD Prices

Pricing

At Saxo Bank Index-tracking CFDs are traded at a minimum spread, which is defined as the spread you will see under normal market conditions.

Volatile market conditions ​may affect the spreads shown on these instruments.

​Index-tracking CFD contract details (continuous)

Index TrackerSpread 1)Margin requiredValue of one contract 2) Trading Hours 3)
US US Tech 100 NAS1.02%USD 118:01 - 16:00 (22 hrs)
US US 30 Wall Street3.02%USD 118:01 - 16:00 (22 hrs)
US US 5000.92%USD 118:01 - 16:00 (22 hrs)
Belgium Belgium 20135%EUR 109:10 - 17:25
Denmark Denmark 202.55%DKK 109:10 - 16:55
EU EU Stocks 502.05%EUR 108:01 - 21:55
France France 402.03%EUR 108:01 - 21:55
Germany Germany 301.53%EUR 108:01 - 21:55
Germany Germany Mid-Cap 50155%EUR 109:10 - 17:25
Germany Germany Tech 304.55%EUR 109:10 - 17:25
Italy Italy 4012*5%EUR 109:01 - 17:25
Netherlands Netherlands 250.253%EUR 108:01 - 21:55
Norway Norway 251.05%NOK 109:10 - 16:15
Portugal Portugal 202510%EUR 108:10 - 16:25
South Africa South Africa 401010%ZAR 108:31 - 17:25
Spain Spain 358.05%EUR 109:01 - 19:55
sweden Sweden 300.655%SEK 109:01 - 17:24
Switzerland Switzerland 203.04%CHF 108:01 - 21:55
UK UK 1001.02%GBP 107:01 - 20.55
UK UK Mid 250445%GBP 108:10 - 16.25
Australia Australia 2001.52%AUD 109:51 - 05:55 3)
Hong Kong Hong Kong125%HKD 109:16 - 22:55 3)
Japan Japan 225123%JPY 108:46 - 02:55 3)

Index-tracking CFD contract details (expiring)

Index Tracker NameSpread Mark up4)MarginValue of one contract 2) Trading Hours 3)
US US2000 0.55%USD 120:00-16:00 EST
China China 501210%USD 109:01 - 01:55
India India 504.010%USD 109:01 - 01:55
Singapore Singapore0.3010%SGD 108:31 - 01:55
Tiawan Taiwan0.4010%USD 108:46 - 01:55
​ ​

*   Italy 40: Italian derivatives are subject to Italian Financial Transaction Tax (Stamp duty) which is applied for both buys and sells. Click here for more information about the Italian Financial Transaction Tax (IFTT).
Also, an additional charge of 2 bps. (0.02%) of the trade amount is applied, to cover Saxo Bank’s increased cost of execution and hedging due to IFTT.

1)   Spreads: the spreads indicated are minimum spreads and depend on the spread of the underlying futures contract. If the underlying future trades at a spread that is larger than the minimum spread, the Index spread will be increased with the additional spread from the future. Example: Germany 30 normal spread is 1.5 index points if the future spread is 0.5 indicating normal conditions. If the liquidity is low in the future and the spread is 1, the Index spread will be 1.5 + (1 - 0.5) = 2.

2)   Point Value of one contract: this is the currency risk you incur with one Stock Index CFD contract. The increment of risk is also one currency unit (i.e. you can increase your position by increments of one index). There is no minimum commission for Stock Index CFD traders.

3)   Trading hours are stated in the local hours of the underlying exchange - please note that the Hong Kong Index trading session has a mid-session break between 12:00-13:00 and an evening break between 16:10-17:00, the trading session in Japan 225 has a break between 3:20 pm and 4:15 pm and the Australia 200​ there is a break between 16:25 and 17:10.
For CHINA50 there is a mid-session break between 15:55 and 16:41. For INDIA50 there is a mid-session break between 18:05 and 19:16.For SINGAPORE there is a mid-session break between 17:10 and 18:16. For TAIWAN there is a mid-session break between 13:45 and 14:36.

4)  Expiring CFD Index Trackers trade on the spread of the underlying Future plus a small mark up.

​​

No Minimum Ticket fee

When trading Stock Index Index Tracker CFDs with Saxo Bank there is no minimum ticket fee charged.

Overnight Financing​

As Index Tracker CFDs at Saxo Bank are margined products, you finance the traded value through an overnight credit/debit charge.If you open and close a CFD position within the same trading day, you are not subject to overnight financing.

When you hold an Index Tracker CFD position overnight, your CFD position will consequently be subject to the following credit or debit:

Holding Long CFD Stock Index Tracker positions after 17:00 EST (New York time) incurs a financing charge which is calculated as follows:​

Index Value * Number of CFDs * (relevant Inter-Bank Offered Rate + 2.50%) * (Actual Number of Days/360 or Actual Number of Days/365)

 

Holding Short positions after 17:00 EST (New York time) creates a financing credit which is calculated as follows:​

Index Value * Number of CFDs * (relevant Inter-Bank Bid Rate – 3.00%) * (Actual Number of Days/360 or Actual Number of Days/365)

If the financing credit is negative it will be debited your account.

No Overnight Financing on Expiring CFD Index Trackers

As the price of the US2000, China 50, India 50, Singapore and Taiwan Index Tracker CFDs tracks the price of the underlying Futures Contract no overnight financing apply.

Updated 27 April, 2015

Commodity CFD Prices

Pricing

​Commodity CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

 

Contract Details

Instrument NameSymbolSpread MinimumMin. trade sizeMarginTrading hoursExpiry date
GoldGOLD0.6014%18:00-17:15 ESTFND -2
SilverSILVER3.5258%18:00-17:15 ESTFND -2
PlatinumPLATINUM1.718%18:00-13:05 ESTFND -2
PalladiumPALLADIUM1.7518%18:00-17:15 ESTFND -2
US CopperCOPPERUS0.555004%18:00-17:15 ESTFND -2
US CrudeOILUS0.05254%18:00-17:15 ESTLTD -2
UK CrudeOILUK0.05254%01:00-22:15 BSTLTD -2
Heating OilHEATINGOIL0.355004%18:00-17:15 ESTLTD -2
Gasoline USGASOLINEUS0.255004%18:00-17:15 ESTLTD -2
Gas OilGASOLINEUK1.2512%01:00-22:15 BSTLTD -2
US Natural GasNATGAS0.0172008%18:00-17:15 ESTLTD -2
CO2 EmissionsEMISSIONS0.07258%07:00-17:00 BSTLTD -2
CornCORN1.252005%19:00 – 13:15 CSTFND -2
WheatWHEAT2.252005%19:00 – 13:15 CSTFND -2
SoybeansSOYBEANS1.752005%19:00 – 13:15 CSTFND -2
NY Sugar No. 11SUGARNY0.055,0005%03:30-13:00 ESTLTD -2
NY CoffeeCOFFEE0.451,0005%03:30-14:00 ESTFND -2
NY CocoaCOCOA914%04:00-14:00 ESTFND -2
Live CattleLIVECATTLE0.1752,0002%09:05-13:00 CSTLTD -2
FND= First Notice
LTD= Last trading
​​

No Commissions

​When trading Commodity CFDs with Saxo Bank, a commission is not charged, but there is a bid/ask spread included in the price Saxo Bank derives for each CFD.

This derivation means that whilst the CFD prices track the underlying Futures contract they are not exactly the same.

No overnight financing

Trading Commodity CFDs will not incur any overnight financing charges. All costs are factored within the trading spread.

Updated 17 February 2015

Single Stock CFD Prices

Single Stock CFD Commissions

Exchange nameSymbolCommissionMin. CommissionCFD Classic Financing (Long/Short)
US NASDAQNASDAQ & NSC0.02 USD/share20 USD3.5pp/-3.0pp
US New York Stock ExchangeNYSE & ARCA0.02 USD/share20 USD3.5pp/-3.0pp
US NYSE MKTAMEX0.02 USD/share20 USD3.5pp/-3.0pp
Canada Toronto Stock Exchange*TSE0.03 CAD/share25 CAD3.5pp/-3.0pp
Greece Athens ExchangeAT0.30%12 EUR4.5pp/-4.0pp
Spain BME Spanish ExchangesSIBE0.10%12 EUR3.5pp/-3.0pp
Hungary Budapest Stock ExchangeBUX0.50%6,000 HUF3.5pp/-3.0pp
Germany Deutsche Börse (XETRA)FSE0.10%12 EUR3.5pp/-3.0pp
Ireland Irish Stock ExchangeISE0.10%6 EUR3.5pp/-3.0pp
UK London Stock ExchangeLSE_SETS0.10%8 GBP3.5pp/-3.0pp
UK London Stock Exchange (IOB)LSE_INTL0.10%20 USD3.5pp/-3.0pp
Italy Milan Stock ExchangeMIL0.19%15 EUR3.5pp/-3.0pp
Denmark NASDAQ OMX CopenhagenCSE0.10%65 DKK3.5pp/-3.0pp
Finland NASDAQ OMX HelsinkiHSE0.10%10 EUR3.5pp/-3.0pp
Sweden NASDAQ OMX StockholmSSE0.10%65 SEK3.5pp/-3.0pp
Netherlands NYSE Euronext AmsterdamAMS0.10%12 EUR3.5pp/-3.0pp
Belgium NYSE Euronext BrusselsBRU0.10%12 EUR3.5pp/-3.0pp
Portugal NYSE Euronext LisbonLISB0.10%12 EUR3.5pp/-3.0pp
France NYSE Euronext ParisPAR0.10%12 EUR3.5pp/-3.0pp
Norway Oslo Stock ExchangeOSE0.10%65 NOK3.5pp/-3.0pp
Czech Republic Prague Stock ExchangePRA0.25%500 CZK3.0pp/-5.0pp
Switzerland SIX Swiss ExchangeSWX & VX0.10%18 CHF3.5pp/-3.0pp
Austria Vienna Stock ExchangeVIE0.10%12 EUR3.5pp/-3.0pp
Poland Warsaw Stock ExchangeWSE0.25%65 PLN3.5pp/-3.0pp
South Africa Johannesburg Stock ExchangeJSE0.25%100 ZAR5.0pp/-3.5pp
Australia Australian Securities ExchangeASX0.10%8 AUD3.5pp/-3.0pp
Hongkong Hong Kong ExchangesHKEX0.25%90 HKD3.5pp/-3.0pp
Singapore Singapore ExchangeSGX-ST0.20%17 SGD3.5pp/-3.0pp
Japan Tokyo Stock ExchangeTYO0.15%1,000 JPY3.5pp/-3.0pp
​ ​

*   Toronto Stock Exchange​ (TSE): Commision is capped at CAD 25/trade for Shares traded below 1 CAD.

Overnight Financing

As Single Stock CFDs at Saxo Bank are a margined product, you finance the traded value through an overnight credit/debit charge.If you open and close a CFD position within the same trading day, you are not subject to overnight financing.

When you hold a Single Stock CFD position (or an ETF/ETC CFD position) overnight (i.e. have an open CFD position at close of market on the Stock Exchange, your CFD position will consequently be subject to the following credit or debit:

When you hold a long CFD position, you are subject to a debit calculated on the basis of the relevant Inter-Bank Offer Rate for the currency in which the underlying share is traded (e.g. LIBOR) plus a mark-up (times Actual Days/360 or Actual Days/365).

When you hold a short CFD position, you receive a credit* calculated on the basis of the relevant Inter-Bank Bid Rate for the currency in which the underlying share is traded (e.g. LIBID) minus a mark-down (times Actual Days/360 or Actual Days/365).

The credit/debit is calculated on the total nominal value of the underlying Stock(s) at the time the CFD contract is established (whether long or short).

Should the relevant Inter-Bank Bid Rate minus the mark-down result in a debit as opposed to a credit, then you will pay the finance charge.

Borrowing costs on short overnight positions

A borrowing cost may be applied to short Single Stock CFD positions held overnight. This borrowing cost is dependent on the liquidity of the underlying Stocks and may be zero (0) for high liquidity Stocks.

The specific borrowing rate for a Stock can be seen as the 'Borrowing Rate' under 'Account' > 'Trading Conditions' > 'CFD Stock/Index Instrument List' in the trading platforms.

When selling a CFD, the borrowing cost for holding the position overnight is shown in the CFD Trade module in the 'Estimated borrowing cost per day' field.

The borrowing rate will be fixed when the position is opened and will be charged on a monthly basis. Please be aware, that for certain corporate action events, the borrowing rate on the short position may be reset to the current rate in the market, upon the execution of the corporate action.

​If you open and close a CFD position within the same trading day, you are not subject to borrowing costs.

Live Exchange Data fees

All equities trade on actual market data from the stock exchanges. To receive and trade on real-time market data, you will have to subscribe to the individual exchange.

A subscription to live price data from an exchange gives you access to live prices on Stocks, Single Stock CFDs, ETFs/ETCs and CFDs on ETFs/ETCs from the particular exchange.

Read more about subscribing to live exchange data.

No custody fees

When trading Single Stock CFDs with Saxo Bank you are not charged a custody fee.

DMA Commissions

Exchange nameSymbolCommissionMin. CommissionCFD Financing Long/Short)
US NASDAQ
Share Price > 10 USD
Share Price < 10 USD
NASDAQ & NSC
-
-
-
0.05 USD/share
0.03 USD/share
-
15 USD
15 USD
-
3.5pp/-3.0pp
3.5pp/-3.0pp
US New York Stock Exchange
Share Price > 10 USD
Share Price < 10 USD
NYSE & ARCA
-
-
-
0.05 USD/share
0.03 USD/share
-
15 USD
15 USD
-
3.5pp/-3.0pp
3.5pp/-3.0pp
US NYSE MKT
Share Price > 10 USD
Share Price < 10 USD
AMEX
-
-
-
0.05 USD/share
0.03 USD/share
-
15 USD
15 USD
-
3.5pp/-3.0pp
3.5pp/-3.0pp
Canada Toronto Stock Exchange*TSE0.05 CAD/share25 CAD3.5pp/-3.0pp
Greece Athens ExchangeAT0.30%20 EUR4.5pp/-4.0pp
Spain BME Spanish ExchangesSIBE0.10%20 EUR3.5pp/-3.0pp
Hungary Budapest Stock ExchangeBUX0.50%6,000 HUF3.5pp/-3.0pp
Germany Deutsche Börse (XETRA)FSE0.10%20 EUR3.5pp/-3.0pp
Ireland Irish Stock ExchangeISE0.10%20 EUR3.5pp/-3.0pp
UK London Stock ExchangeLSE_SETS0.10%15 GBP3.5pp/-3.0pp
UK London Stock Exchange (IOB)LSE_INTL0.10%20 USD3.5pp/-3.0pp
Italy Milan Stock ExchangeMIL0.25%22 EUR3.5pp/-3.0pp
Denmark NASDAQ OMX CopenhagenCSE0.10%65 DKK3.5pp/-3.0pp
Finland NASDAQ OMX HelsinkiHSE0.10%10 EUR3.5pp/-3.0pp
Sweden NASDAQ OMX StockholmSSE0.10%65 SEK3.5pp/-3.0pp
Netherlands NYSE Euronext AmsterdamAMS0.10%20 EUR3.5pp/-3.0pp
Belgium NYSE Euronext BrusselsBRU0.10%40 EUR3.5pp/-3.0pp
Portugal NYSE Euronext LisbonLISB0.10%20 EUR3.5pp/-3.0pp
France NYSE Euronext ParisPAR0.10%20 EUR3.5pp/-3.0pp
Norway Oslo Stock ExchangeOSE0.10%65 NOK3.5pp/-3.0pp
Czech Republic Prague Stock ExchangePRA0.25%500 CZK3.0pp/-5.0pp
Switzerland SIX Swiss ExchangeSWX & VX0.10%30 CHF3.5pp/-3.0pp
Austria Vienna Stock ExchangeVIE0.20%30 EUR3.5pp/-3.0pp
Poland Warsaw Stock ExchangeWSE0.25%100 PLN3.5pp/-3.0pp
South Africa Johannesburg Stock ExchangeJSE0.25%100 ZAR5.0pp/-3.5pp
Australia Australian Securities ExchangeASX0.10%8 AUD3.5pp/-3.0pp
Hongkong Hong Kong ExchangesHKEX0.32%150 HKD3.5pp/-3.0pp
Singapore Singapore ExchangeSGX-ST0.22%25 SGD3.5pp/-3.0pp
Japan Tokyo Stock ExchangeTYO0.15%1,200 JPY3.5pp/-3.0pp
​ ​

*   Toronto Stock Exchange​ (TSE): Commision is capped at CAD 25/trade for Shares traded below 1 CAD.

Updated 6 November, 2014

Bond CFD Prices

Pricing

​Bond CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

 

Contract details

Instrument NameSymbolSpread
Minimum
Min. trade sizeMarginTrading hours

German Government
10 year Bund

BUND0.0350 CFDs1%08:01-21:55 CET
German Government
5 year Bobl
BOBL0.0350 CFDs1%08:01-21:55 CET
German Government
2 year Schatz
SCHATZ0.01550 CFDs1%08:01-21:55 CET
Italian Government
10 year BTP
10YBTP0.0550 CFDs2%08:01-18:55 CET
French Government
10 year OAT
10YOAT0.0550 CFDs2%08:01-18:55 CET
​​

No commissions

Trading Bond CFDs with Saxo Bank does not attract exchange fees or commissions.

No overnight financing

The swap costs for trading Bond CFDs with Saxo Bank are already included in the price of the underlying Future, hence Bond CFDs positions are not charged overnight financing.

All trading costs for Bond CFDs are included in a small mark-up added to the spread. 

Updated September 28th. 2012

Forex CFD Prices

Pricing

Forex CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

 

Contract details

Instrument NameSymbolSpread
Mark up
Min. trade sizeMarginTrading hoursExpiryExpiry Time

Euro /
US Dollar

EURUSDEC+0.00015,0002%17:00-16:00 CSTFND -310:00 CST
Euro /
Japanese Yen
EURJPYRY+0.025,0004%17:00-16:00 CSTFND -310:00 CST
Euro /
Swiss Franc
EURCHFRF+0.00025,00010%17:00-16:00 CSTFND -310:00 CST
Euro /
British Pound
EURGBPRP+0.000255,0002%17:00-16:00 CSTFND -310:00 CST
British Pound /
US Dollar
GBPUSDBP+0.00025,0002%17:00-6:00 CSTFND -310:00 CST
Australian Dollar /
US Dollar
AUDUSDAD+0.00025,0004%17:00-16:00 CSTFND -310:00 CST
USD IndexUSDINDEX+0.0051002%20:00-17:00 ESTLTD -211:00 EST
FND= First Notice LTD = Last trading

No commissions

Trading Forex CFDs with Saxo Bank does not attract exchange fees or commissions.

No overnight financing

The swap costs for trading Forex CFDs with Saxo Bank are already included in the price of the underlying Future, hence FX CFDs positions are not charged overnight financing.

All trading costs for Forex CFDs are included in a small mark-up added to the spread. 

Updated 19 February 2015

Exchange Traded Funds /
Exchange Traded Commodity CFD Prices

Volume-based commissions

At Saxo Bank ETF / ETC CFDs are priced similar to Single Stock CFDs, i.e. when trading ETF / ETC CFDs you pay a fixed commission in percentage (%) on the notional value of the trade with a minimum for small trade sizes.

For North American exchanges commission is calculated as cents per contract.
 
See full list of exchange commissions under 'Single Stock CFDs prices' above.

Minimum Ticket fee

Similar to Single Stock CFDs for ETF/ETC CFDs trades below the 'Minimum Commission Threshold', a Minimum Ticket fee is charged.

Minimum Ticket fees are listed under the "CFD Stock Trading Conditions" on the trading platforms.

ETF / ETC available

Full list of ETFs and ETCs available for trading with Saxo Bank can be viewed in the Trading Conditions section of the trading platforms.

Live Market Data Fees

All equities trade on actual market data from the stock exchanges. To receive and trade on real-time market data, you will have to subscribe to the individual exchange.

A subscription to live price data from an exchange gives you access to live prices on Stocks, Single Stock CFDs, ETFs/ETCs and CFDs on ETFs/ETCs from the particular exchange.

Read more about subscribing to live exchange data.

Overnight Financing

As ETF/ETC CFDs at Saxo Bank are margined products, you finance the traded value through an overnight credit/debit charge. If you open and close a CFD position within the same trading day, you are not subject to overnight financing.

Overnight Financing on ETF/ETC CFDs follow the same terms as Single Stock CFDs.

Updated 1 August 2012

Product Risk

​Danish banks are required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red.

A CFD is categorised as a red product as it is considered an investment product with a high complexity and a high risk. See also the 'Product Risk Categorisation' located under our General Business Terms.

General Business Terms​​​