Bonds pricing

Find details of our competitive bond commissions for online and offline trading.

Commissions

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

Online Trading

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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 bonds **0.20%(min. 20 EUR)0.10%(min. 20 EUR)0.05%(min. 20 EUR)
China Bonds Connect0.20% (min. 20 EUR)0.10% (min. 20 EUR)0.05% (min. 20 EUR)

*For US government bonds there is an additional external execution fee of 0.0004% embedded in the price.
** Similar prices apply to other local bonds.

More information

Saxo Markets allows a percentage of the 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.

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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Bonds risk warning

Bonds are categorised as either green, yellow or red products depending on the individual instrument. Danish banks are required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. For most bonds, in particular corporate bonds, bid and offer prices are not public available and transparent, as the majority of trading takes place outside regulated marketplaces. Bonds are traded OTC with Saxo Bank as counterpart, and OTC trading conditions apply. For further information click here

Saxo Capital Markets HK Limited
19th Floor
Shanghai Commercial Bank Tower
12 Queen’s Road Central
Hong Kong

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Hong Kong S.A.R
Hong Kong S.A.R

Saxo Capital Markets HK is a company authorised and regulated by the Securities and Futures Commission of Hong Kong. Saxo Capital Markets HK Limited holds a Type 1 Regulated Activity (Dealing in securities); Type 2 Regulated Activity (Dealing in Futures Contract); Type 3 Regulated Activity (Leveraged foreign exchange trading); Type 4 Regulated Activity (Advising on securities) and Type 9 Regulated Activity (Asset Management) licenses (CE No. AVD061). Registered address: 19th Floor, Shanghai Commercial Bank Tower, 12 Queen’s Road Central, Hong Kong

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