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CFD Margins (Clients, who are not EU Resident Retail Investors)

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. 

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

Index-tracking CFD margins (normal market conditions)

Index TrackerInitial MarginMaintenance Margin

NORTH AMERICA
US 30 Wall Street2.5%1.25%
US 5002.5%1.25%
US Tech 100 NAS2.5%1.25%


EUROPE, MIDDLE EAST & AFRICA
Belgium 205.0%n.a.
Denmark 205.0%n.a. 
EU Stocks 503.0%1.5%
France 403.0%1.5%
Germany 303.0%1.5%
Germany Mid-Cap 505.0%n.a.
Germany Tech 305.0%n.a.
Italy 405.0%n.a.
Netherlands 253.0%n.a.
Norway 255.0%n.a.
Portugal 2010.0%n.a.
South Africa 4010.0%n.a.
Spain 355.0%2.5%
Sweden 305.0%n.a.
Switzerland 203.0%1.5%
UK 1003.0%1.5%
UK Mid 2505.0%n.a.


ASIA / PACIFIC
Australia 2003.0%n.a.
Japan 2253.0%n.a.
Hong Kong5.0%n.a.

 Index-tracking CFD contract details (expiring)

Index TrackerInitial MarginMaintenance Margin
China 5010.0%n.a.
India 5010.0%n.a.
Singapore10.0%n.a.
Taiwan10.0%n.a.
US20005.0%n.a.

We have sorted our more than 8,800 online tradable CFDs in 6 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.

Saxo RatingInitial Margin
120%
220%
325%
435%
555%
6110%

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

View individual Single Stock CFD margins

Instrument NameSymbolMargin RequirementLeverage
METALS
GoldGOLD4%25:1
SilverSILVER8%12.5:1
PlatinumPLATINUM8%12.5:1
PalladiumPALLADIUM8%12.5:1
US CopperCOPPERUS4%25:1
ENERGY
US CrudeOILUS5%20:1
UK CrudeOILUK5%20:1
Heating OilHEATINGOIL4%25:1
Gasoline USGASOLINEUS8%12.5:1
Gas OilGASOILUK8%12.5:1
US Natural GasNATGAS8%12.5:1
CO2 EmissionsEMISSIONS8%12.5:1
AGRICULTURE
CornCORN5%20:1
WheatWHEAT5%20:1
SoybeansSOYBEANS5%20:1
SOFTS
NY Sugar No. 11SUGARNY5%20:1
NY CoffeeCOFFEE5%20:1
NY CocoaCOCOA5%20:1
MEATS
Live CattleLIVECATTLE5%20:1
LeverageMargin RequirementProduct/Instrument
100:11%German Government 5 year Bobl
German Government 2 year Schatz
100:11%German Government 10 year Bund
100:11%French Government 10 year OAT
50:12%Italian Government 10 year BTP

The leverage available for Forex CFDs is either 50:1 or 25:1 equal to 2% or 4% in margin.

Instrument NameSymbolMargin RequirementLeverage
CURRENCIES
Euro /
US Dollar
EURUSDEC2%50:1
Euro /
Japanese Yen
EURJPYRY4%25:1
Euro /
Swiss Franc
EURCHFRF4%25:1
Euro /
British Pound
EURGBPRP2%50:1
British Pound /
US Dollar
GBPUSDBP2%50:1
Australian Dollar /
US Dollar
AUDUSDAD4%25:1
USD IndexUSDINDEX2%50:1

See under 'Single Stock CFDs'.

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. 

Updated 30 July, 2018

Saxo Bank (Schweiz) AG
Beethovenstrasse 33
CH-8002
Zürich
Switzerland

Switzerland

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