CFD DMA rates & conditions

Immediate changes to short-selling in CFDs

Due to the current market conditions a number of financial authorities are announcing rule changes that affect short-selling of physical stocks. These rule changes are put in place to protect the integrity and quality of the securities market and strengthen investor confidence. As a consequence, the changes will affect the short-selling of related CFDs. We recommend that clients read the latest announcement regarding the restrictions in short-selling and check this website on a frequent basis for updates.

Please note, it will not be possible to open new short CFD positions in effected companies during this period.  Existing short CFD positions will be permitted and do not need to be closed.

SEC Section 31 Fees for US CFD DMA and Shares

Saxo Bank passes on to clients the SEC Section 31 fee of $19.20 per million (0.192BP) on US exchange CFD DMA and stock SELL transactions where client orders are entered directly into the underlying market. Regular CFDs are exempt from this charge. This fee applies only to US exchanges.
To read more about Section 31 visit: http://www.sec.gov/answers/sec31.htm

Reduced CFD margin requirement on the first EUR 300,000 of collateral

When trading Category 1 and 2 CFDs with Saxo Bank, margin requirements are halved on the first EUR 300,000 (or equivalent) collateral. This includes index-tracking CFDs. Tier 1 CFDs will therefore require a margin of 2% and Tier 2 CFDs will require a margin of 4% on the first EUR 300,000 of collateral. Normal margin rates will apply to all investment collateral over EUR 300,000 (or equivalent) and to CFDs rated as category 3 or higher. For a full list of applicable CFDs, refer to Category 1 and 2 CFDs on the CFD Trading Conditions page in the trading platform or on the website.

NOTE THAT WITH REDUCED CFD MARGIN REQUIREMENTS, CLIENTS HAVE AN INCREASED EXPOSURE TO RISK.

* Continuous trading including a break between 04:30 - 06:30 GMT.

** South African Stocks and Single Stock CFDs are not available to residents of South Africa due to regulatory issues.

The commission and margin rates referred to above may vary from time to time especially for very active or inactive customers. Saxo Bank reserves the right to amend the commission rates, brokerage fees, margin rates and interest rates referred to according to the terms of the trading agreement entered into between Saxo Bank and the Client.