Bonds: Transaction fees that fit your needs

You have different transaction fees depending on the tier you're on. For high-volume trading, you can upgrade your tier and get lower transaction fees.

Commissions

We have three pricing tiers. Pay less as you trade more.
Learn more about our account tiers

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Bond typeClassicPlatinumVIP
European government bonds0.20% (min. 20 EUR)*0.10% (min. 20 EUR)*0.05% (min. 20 EUR)*
US government bonds**0.20% (min. 20 EUR)*0.10% (min. 20 EUR)*0.05% (min. 20 EUR)*
European and US corporate bonds0.20% (min. 20 EUR)*0.10% (min. 20 EUR)*0.05% (min. 20 EUR)*
Emerging Markets bonds0.20% (min. 20 EUR)*0.10% (min. 20 EUR)*0.05% (min. 20 EUR)*

* or the equivalent if traded in another currency

** For US government bonds there is an additional external execution fee of 0.0004% embedded in the price.

Other costs

Saxo Markets allows Professional clients to use a percentage of their investment in certain bonds to be used as collateral for margin trading activities.

The collateral value of a bond position depends on the rating of the individual bond, as outlined below:

Rating definition*Collateral percentage
Highest Rating (AAA)95%
Very High Quality (AA)90%
High Quality (A)80%

* as rated internally by Saxo Markets

Example: 80% of the market value of a bond position with an A rating can be used as collateral (instead of cash) to trade margin products such as Forex, CFDs or Futures and Options.

Saxo supports 2,500 bonds offline, so there is a good chance that it can be traded offline from our bond desk. Please contact Saxo to enquire about the possibility of trading the specific bond offline. If so, it will be manually traded, but will still appear in the account summary of your account just like any other position.

Bonds have different minimum trading sizes which can be as high as 50k, 100k or 200k in the relevant currency. You can see the minimum trading sizes and increment on each bond under account > Trading conditions as well as on the trade ticket. However, there are bonds which trade in lower sizes, which may also be available (a minimum limit of 10k in € or $ on all online bonds).

Bonds can be traded online 24/5 if the relevant underlying bond market is open. Trading hours will be limited to the daylight hours where liquidity in the relevant underlying bond market is best (i.e. European government bonds are open for trading in European hours).

A wide range of the most active and liquid government and corporate bonds in Europe, US, Asia, the Middle East and Africa, as well as a limited number of Latin American bonds - in total more than 4,500 bonds - are available for online bond trading.

You can review our trading conditions for bonds here.

Read more about our general charges and custody fees for bonds on the general terms page, section about fees here.

Find more information about our general charges here.

See all our prices

Get ultra-competitive spreads and commissions across all asset classes, and receive even better rates as your volume increases. 

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