Commissions, Charges Schedule

Commissions, Charges Schedule

Product trading rates & conditions

See our Stock trading rates & conditions

See our ETF trading rates & conditions

See our Bonds trading rates & conditions

Minimum account size

USD 10,000 for a Classic Account

Interest on funds deposited with Saxo Bank

Interest on your main account is calculated on the Net Free Equity.

Interest on sub-accounts is calculated on the Account Value.

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 definition

Net Free Equity is defined as:

  • The cash balance on the main trading account
  • Minus the value of open trade positions on all accounts.

Account Value definition

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 short non-future style Contract Options on the main sub-account.

Account Interest (Retail)

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

Net Free Equity above EUR 15,000 (or equivalent):

  • Interest paid on the full amount on the account is market bid rates minus 3%

Positive Net Free Equity up to EUR 15,000 (or equivalent):

  • No account interest

Negative Net Free Equity:

  • Interest will be charged at market ask rates plus 8%

Account Interest (Institutional)

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 a mark-up on the full amount for all Account Values
  • For negative Net Free Equity interest will be charged at market ask rates plus a mark-up on the full amount for all Account Values.

Interest Calculation and Settlement

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

Currency Conversion fee

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

 

The Currency Conversion fee does not apply to margin collateral. Only settlement of actual payments to or from the trading account are included, for example, buying/selling cash Stocks, paying/receiving options premium etc.

 

The rate used for currency conversion of amounts booked to your account is shown in the trading platforms under the “Trades Executed” report.

 

Updated 30th December, 2012