Forex Spreads & Commissions


The value of your investments can go down as well as up.
Losses can exceed deposits on margin products. Please ensure you understand the risks.



FX Prices – Essential Account

Saxo offers industry-leading tight spreads and low commissions on our Saxo Essential limited risk account. See a full pricing overview for Saxo Essential here.

Note: Saxo Essential has a margin utilisation cap of 20,000 and gives you access to a limited range of 20 FX pairs, 10 index CFDs and our full range of Stocks and Bonds.


FX Volume-based Discount Plan

Commissions level Volume USDm (average monthly) Gross Commission per USDm Discount Net commission per USDm
Level 1 0 - 50 50 USD 0 USD 50 USD
Level 2 50 - 100 50 USD -10 USD 40 USD
Level 3 100 - 250 50 USD -20 USD 30 USD
Level 4 250 - 500 50 USD -25 USD 25 USD
Level 5 500 - 1,000 50 USD -30 USD 20 USD
Level 6 > 1,000 50 USD -33 USD 17 USD
  • Increasing commission discounts for larger cumulative trading volume*
  • Competitive and transparent pricing from as low as 0.1 pips, plus commission
  • Start each month at the commission discount level earned on previous months' average monthly volumes
  • Consistency in spread across notional trade sizes
  • No minimum monthly commission fee
  • Designed for pricing simplicity

*Commission will be calculated on the average of the most recent 3 months trading volume (if applicable). To find out more about how the FX Volume-based Discount Plan works, please go to the Forex FAQ page.

The FX Volume-based Discount Plan serves low-volume traders equally as well as it does high-volume traders, taking into account that trading volumes can fluctuate. We charge a standard commission rate of 50 USD per 1 million USD traded, with the benefit of increasing discounts for larger cumulative trading volume, i.e. the more volume traded, the cheaper trading costs (commission) become.

For example:

  • If you trade over 50 million USD, you will receive a 20% (10 USD) discount on commission paid on volume traded up to 100 million USD.
  • If you trade over 100 million USD, you will receive a 40% (20 USD) discount on commission paid on volume traded up to 250 million USD.
  • If you trade over 250 million USD, you will receive a 50% (25 USD) discount on commission paid on volume traded up to 500 million USD.
  • If you trade over 500 million USD, you will receive a 60% (30 USD) discount on commission paid on volume traded up to 1,000 million USD.
  • If you trade over 1,000 million USD, you will receive a 66% (33 USD) discount on commission paid on volume traded in excess of 1,000 million USD.

Frequently Asked Questions

To find out more about how the FX Volume-based Discount Plan works, please click here.


Trading Conditions

To understand the FX spot and FX forward outright trading conditions please click here.

Orders & Execution

Saxo offer a variety of orders, including Market, Limit and Stop orders. To learn more please see Orders and Execution Statistics.

To learn more about how Saxo executes orders on behalf of its clients, please refer to our Order Execution Policy.

Trade Responsibly

Key Information Documents

All trading carries risk. To help you understanding the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

Additional Key Information Documents are available in our trading platform.