Essential Parameters For CFD Margin

Trading With Leverage

CFDs are traded on margin. This means that you are able to leverage your investment by opening positions of larger size than the funds you have to place as margin collateral. The margin is the amount reserved on your trading account to cover any potential losses from an open CFD position. It is possible that a loss may exceed the required margin. Margin requirements vary from instrument to instrument and can be changed at any time to reflect market conditions. For larger re-ratings or changing of margin requirements for very popular instruments clients will be notified in advance where possible. 

Intraday margin on selected Index Tracker CFDs is available to clients on request. The intraday margin requirement is reduced compared to the normal margin requirement and is applied during intraday trading hours. For more details on intraday margin and intraday trading hours, see the section below.  Margin requirements by CFD type and instrument are always listed under the CFD Trading Conditions on the trading platforms but can also be seen below.

Please note that Saxo Capital Markets reserves the right to increase margin requirements for large position sizes, including client portfolios considered to be of very high risk.

Intraday Margin

Intraday margin which is available on selected CFD Index Trackers increases flexibility during the trading day. The Intraday margin is phased out in the minutes following expiry of the intraday trading hours applicable to the respective instrument. 

Example of Intraday Margin for Germany 30 (GER30.I)

The intraday trading hours can be found in the trading conditions section in the trading platforms. Please note that the intraday trading hours are subject to change and may be affected by early close of the underlying market due to holidays etc.

Intraday Margin is available upon request. Please contact your Account Manager or Service Centre.

Index Tracker CFDs

Please note that margin rates on selected CFDs are temporarily increased from 16 August 2017. Click here for more information.

Index-tracking CFD cmargins (normal market conditions)

Index Tracker Standard Margin Intraday Margin 1) Intraday Session 2)
NORTH AMERICA
US 30 Wall Street
2.0% 1.0% 09:00 - 15:53
US 500
2.0% 1.0% 09:00 - 15:53
US Tech 100 NAS
2.0% 1.0% 09:00 - 15:53
EUROPE, MIDDLE EAST & AFRICA
Belgium 20
5.0% n.a.  
Denmark 20
5.0% n.a.  
EU Stocks 50
4.0% 2.0% 09:00 - 17:28
France 40
3.0% 1.5% 09:00 - 17:28
Germany 30
3.0% 1.5% 09:00 - 17:28
Germany Mid-Cap 50
5.0% n.a.  
Germany Tech 30
5.0% n.a.  
Italy 40
5.0% n.a.  
Netherlands 25
3.0% n.a.  
Norway 25
5.0% n.a.  
Portugal 20
10.0% n.a.  
South Africa 40
10.0% n.a.  
Spain 35
5.0% 2.5% 09:00 - 17:28
Sweden 30
5.0% n.a.  
Switzerland 20
4.0% 2.0% 09:00 - 17:18
UK 100
2.0% 1.0% 08:00 - 16:28
UK Mid 250
5.0% n.a.  
ASIA / PACIFIC
Australia 200
2.0% 1.0% 10:00 - 15:58 
Japan 225
3.0% n.a.  
Hong Kong
5.0% n.a.  

 Index-tracking CFD contract details (expiring)

Index Tracker Standard Margin Intraday Margin 1) Intraday Session 2)
China 50
10.0% n.a.
India 50
10.0% n.a.
Singapore
10.0% n.a.
Taiwan
10.0% n.a.
US2000
5.0% n.a.

1) Intraday Margin is available upon request. Please contact your Account Manager or Service Centre.

2) Trading hours are stated in the local hours of the underlying exchange. Please note that Intraday Margin will move to Standard Margin during a rolling window of 2 minutes after the close of the Intraday Session(s).


Single Stock CFDs

We have sorted our 8,800+ online tradable CFDs in 8 different margin groups. Which margin group a CFD falls into depends on the market capitalisation, liquidity and volatility of the underlying asset. The leverage available on Single Stock CFDs begin at 10:1 which corresponds to only 10% margin.

Rating Margin requirement
1 10%
2 20%
3 40%
4 80%
5 100%

Find your local stock in the link below and see what Margin Rating it has. 

View individual Single Stock CFD margins

Commodity CFDs
Instrument Name Symbol Margin Requirement Leverage
METALS
Gold GOLD 4% 25:1
Silver SILVER 8% 12.5:1
Platinum PLATINUM 8% 12.5:1
Palladium PALLADIUM 8% 12.5:1
US Copper COPPERUS 4% 25:1
ENERGY
US Crude OILUS 5% 20:1
UK Crude OILUK 4% 25:1
Heating Oil HEATINGOIL 4% 25:1
Gasoline US GASOLINEUS 4% 25:1
Gas Oil GASOILUK 2% 50:1
US Natural Gas NATGAS 8% 12.5:1
CO2 Emissions EMISSIONS 8% 12.5:1
AGRICULTURE
Corn CORN 5% 20:1
Wheat WHEAT 5% 20:1
Soybeans SOYBEANS 5% 20:1
SOFTS
NY Sugar No. 11 SUGARNY 5% 20:1
NY Coffee COFFEE 5% 20:1
NY Cocoa COCOA 5% 20:1
MEATS
Live Cattle LIVECATTLE 5% 20:1
Bond CFDs
Leverage Margin Requirement Product/Instrument
100:1 1% German Government 5 year Bobl
German Government 2 year Schatz
100:1 1% German Government 10 year Bund
100:1 1% French Government 10 year OAT
50:1 2% Italian Government 10 year BTP
Forex CFDs

The leverage available for Forex CFDs is 50:1 equal to just 2% in margin.

Instrument Name Symbol Margin Requirement Leverage
CURRENCIES
Euro /
US Dollar
EURUSDEC 2% 50:1
Euro /
Japanese Yen
EURJPYRY 4% 25:1
Euro /
Swiss Franc
EURCHFRF 10% 10:1
Euro /
British Pound
EURGBPRP 2% 50:1
British Pound /
US Dollar
GBPUSDBP 2% 50:1
Australian Dollar /
US Dollar
AUDUSDAD 4% 25:1
USD Index USDINDEX 2% 50:1

ETF / ETC CFDs

See under 'Single Stock CFDs'.

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. 

See our Risk Warning.

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