Simplified volume-based discount pricing plan for FX Spot and Forwards
On Monday 13th November, as part of our ongoing commitment to providing you with increased transparency and quality execution, Saxo will migrate your account onto a simplified volume-based discount pricing plan for FX Spot and Forwards.
We appreciate that at times your trading volume can fluctuate, and we are therefore introducing a single flexible pricing plan that doesn't ask you to commit to a minimum monthly trading volume or commission.
The new pricing plan charges a standard commission rate of USD 50 per USD 1 million traded, subject to a minimum commission of USD 3, with the benefit of increasing discounts for larger cumulative trading volume.
|Commissions||Level 1||Level 2||Level 3||Level 4||Level 5||Level 6|
|Volume USDm (monthly) required||0 - 50||50 - 100||100 - 250||250 - 500||500 - 1,000||>1,000|
|Gross Commission per USDm||50 USD||50 USD||50 USD||50 USD||50 USD||50 USD|
|Discount||0 USD||-10 USD||-20 USD||-25 USD||-30 USD||-33 USD|
|Net Commission per USDm||50||40||30||25||20||17|
Your trading costs improve the more volume you trade. For example:
- If you trade over USD 50 million, you will receive a 20% (USD 10) discount on commission paid on volume traded up to USD 100 million.
- If you trade over USD 100 million, you will receive a 40% (USD 20) discount on commission paid on volume traded up to USD 250 million.
In addition to discounted trading costs with no minimum monthly commission, you will now benefit from trading spreads as low as 0.1 pip with the added advantage that pricing in large notional trade sizes will now become much more competitive. Please click here to see the historical minimum and average spreads observed across different currency pairs and trade sizes on the new pricing plan.
Saxo believes that open and transparent markets, coupled with full alignment of interest between providers and clients offer a real opportunity for differentiation between brokers. Strong proof points of Saxo's commitment to this have been shown with the publishing of our Enhanced Disclosure Page and by formally signing up to the Global FX Code where Saxo has been a member of the Bank of England Joint Standing Committee playing a key role in the development of the code.
No further action is required from you. Saxo Capital Markets Hong Kong accounts will be migrated automatically to the new simplified volume-based discount pricing on Monday, 13th November 2017.
Please refer to the attached Q&A for more information.