Saxo Capital Markets (Australia) Pty Ltd ABN 32 110 128 286 AFSL 280372 (‘Saxo’ or ‘Saxo Capital Markets’) is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms & Combined Financial Services Guide & Product Disclosure Statement to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.
Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products such as CFDs and Margin FX products may result in your losses surpassing your initial deposits. Saxo Capital Markets does not provide ‘personal’ financial product advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Capital Markets does not take into account an individual’s needs, objectives or financial situation.
The information or the products and services referred to on this website may be accessed worldwide, however is only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website is not intended for residents of the United States.
The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-au/about-us/awards.
The Tradingfloor.com website is the property of Saxo Bank A/S as an affiliate of Saxo Bank, and is a part of Saxo Bank Group, Saxo Capital Markets has entered into an arrangement with TradingFloor.com to allow clients of Saxo Capital Markets upon their consent to access information on tradingfloor.com and use their Saxo Trading Account to enter into transactions through Tradingfloor.com. Any materials or other social trading features available on the TradingFloor.com website are provided by Saxo Bank A/S and Saxo Capital Markets does not accept any responsibility or liability for the contents or services made accessible through TradingFloor.com. For the avoidance of doubt, should clients decide to enter into any transaction through TradingFloor.com Saxo Capital Markets will be the counterparty to any transaction entered into by clients and not Saxo Bank.
Social Trading involves risks, even when following and/or replicating other Profiled Traders. Past performance of a trader indicated on Tradingfloor.com is not indicative of future results. When reviewing the portfolio or financial performance information, opinions or views of a Profiled Trader, you should not assume that the Profiled Trader is unbiased, experienced, professional, independent or qualified to provide financial information or advice. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax, trading advice and should not be construed as an offer or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank A/S or its affiliates will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of Tradingfloor.com or as a result of the use of Tradingfloor.com.
Commissions, Charges and Margin Schedule
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).
Your Net Free Equity is:
- The cash balance of your main trading account
- Plus or minus any unrealised profits or losses from open CFDs, FX Forwards and Futures on your main trading account
- Plus the market value of any FX Options on your main trading account
- Minus any margin required for financing open positions on your main trading account and sub-accounts
Net Free Equity margin financing
The margin financing requirement may differ from the trading margin requirement. See the full list of cash collateral for margin financing used for Net Free Equity calculation here.
To avoid paying overdraft interest on your account you are required to hold sufficient cash collateral ensuring a positive Net Free Equity Balance.
Account Value of your sub-account is:
- The cash balance of the account
- Plus or minus the value of any unrealised profits or losses from open CFDs, FX Forwards and Futures on the account
- Plus the market value of any FX Options on the account
The following interest rates apply to funds deposited with Saxo Capital Markets:
Net Free Equity above USD 15,000 (or equivalent):
- Interest paid on the full amount on the account is the higher of market bid rates minus 3 % and zero
Positive Net Free Equity up to USD 15,000 (or equivalent):
- No account interest
Negative Net Free Equity:
- Interest will be charged at market ask rates plus 8 %, however never less than 8 %
The following interest rates apply to funds deposited with Saxo Capital Markets:
- For positive Net Free Equity interest will be the higher of market bid rates minus a mark-up and zero. Interest will be paid on the full amount for all Account Values.
- For negative Net Free Equity interest will be market ask rates plus a mark-up, however never less than the mark-up. Interest will be charged on the full amount for all Account Values
As of 1 March 2017, Saxo Capital Markets will charge negative interest rates on our standard offering in relevant reference currencies. The charge will apply to balances above the threshold currently indicated in the table below.
On the main trading account, this threshold will be applied to the available net free equity and, in the case of sub-accounts to the account value. The negative interest will be calculated daily for the account credit balance exceeding the threshold and debited to the main trading accounts or sub-accounts at the end of each month for the interest period of the previous month.
The rates charged are subject to change.
|Threshold||Negative interest rate (p.a.)|
Under Australian Income Tax law, payers of interest must withhold tax and pay it to the Australian Taxation Office (ATO) where an account holder has not provided a:
- Tax File Number (TFN)
- Australian Business Number (ABN); or
- Valid TFN exemption
You can find out more on the ATO web site at www.ato.gov.au
If you do not provide us with your Tax File Number (TFN), TFN exemption or Australian Business Number (ABN) or you have an overseas residential address, we must by law deduct tax from any interest we pay to you and pay this tax to the Australian Taxation Office (ATO). This tax is referred to as 'withholding tax'.
Interest will be calculated daily and settled monthly - within seven business days after the end of each calendar month.
Currency conversions of trading costs as well as profits and losses from trading activities are executed at the mid FX Spot rate when you close the position, 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.
Custody fees for stocks, ETFs/ETCs and bonds
For accounts with stock, ETFs/ETCs or bond positions a custody fee of 0.12 %p.a. with a monthly minimum fee of AUD 5.00 or equivalent will apply. The custody fee will be calculated daily using the end of day values and charged on a monthly basis. Regional differences may apply.
|Custody fee p.a.||Monthly minimum fee|
|Stocks and ETFs/ETCs||0.12 %||AUD 5.00|
|Bonds||0.12 %||AUD 5.00|
For clients on the Classic service level, an inactivity fee on the amount of AUD 100.00 – or the equivalent amount in the account currency - will be charged where the client does not execute any trades on his/her account for a period of 6 consecutive months (180 days).
For transfers of Stocks to your account outside Saxo Capital Markets, an exit fee will be charged. The fees are AUD 50 per ISIN (max AUD 200).
Changes to DRS Stock Transfer Fees
Please note that fees for stock transfers under the Direct Registration System (DRS) have been revised with immediate effect.
Please refer to the Fee Schedule for more information.