General charges and fees

We’re fully transparent about our charges, so you’ll always know how much it costs to trade and invest with us.

Commissions and charges

Costs and fees shown are available to new clients. Existing clients should refer to the trading platform for up-to-date details applicable to their account.

When trading with Saxo, you usually receive interest on your cash balance. However, if you have open positions in margin products, those positions will affect the interest calculation.

Your interest rate depends on your account tier (Classic, Platinum or VIP). The interest is composed of the Saxo Bid/Ask rates and a markup or markdown. Information about the Saxo Bid/Ask rates is available here

Interest on your main account is calculated based on your Net Free Equity (NFE), which is your Cash Balance plus/minus any NFE adjustments. If you have multiple sub-accounts in different currencies, the interest on those is based on the calculated adjusted account value for each sub-account. See definitions here.

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Annual interest on

Account tier Annual interestInterest rate

Rates as of x.xx.xxxx The prices above are indicative and will vary according to the country of residency. A full overview of exact pricing is available through the platform trade tickets.

Settlement 

Interest will be calculated daily and settled monthly, within seven business days of the end of each calendar month. Interest is calculated according to the day count conventions and market standard set out in the table under Saxo Bid/Ask Interest Rates. 

Negative Net Free Equity

Please note that your Net Free Equity can become negative if your financing margin requirement and unrealised P&L on margin products exceed your cash balance, which will result in an overdraft rate.  

Interest rates on Negative NFECLASSICPLATINUMVIP
Negative NFE (debit) Saxo Ask + 8% Saxo Ask + 7% Saxo Ask + 6%
Margin requirement for Financing

Note that the margin financing requirement may differ from the trading margin requirement. 

You can see the full list of cash collateral for margin financing used for Net Free Equity calculation here.

In supporting your financial aspirations and trading objectives, we provide both funding and liquidity for your trading activities in margin products. Our financing rates apply when you hold an open position in a margin product overnight e.g., a Contract for Difference (CFD) on a single stock.

Your financing rates consist of two components: 1) Saxo Bid/Offer financing rates and 2) commercial product markup/down.

The financing rates are set as:

  • Bid = Saxo Bid financing rate - commercial product markdown
  • Offer = Saxo Offer financing rate + commercial product markup 

Saxo Bid/Offer financing rates

Saxo Bid/Offer financing rates refers to our pricing on financing i.e., we are charging floating interest rates. We use Alternative Reference Rates (ARRs) as an input when setting Saxo Bid/Offer financing rates. For currencies without a designated ARR, a money market rate, monetary policy rate or other relevant financial benchmark will apply as an input. 
Saxo Bid/Offer Financing Rates have a floor of zero percent, i.e. the interest rates can not be negative rates.

When you buy CFDs on single stocks e.g., in Hong Kong Dollars, we will convert our funding base into Hong Kong Dollars to finance the underlying purchase of the stocks. Conversely, if you are selling CFDs on a single stock e.g., in South African Rand, we will convert the proceeds from sale of the underlying stocks into our funding base currencies. These operations require active trading in various financial products in the interbank market to manage the liquidity cash flows generated by your trading activities.

ARRs have been developed by working groups consisting of national and international industry associations, market participants, as well as central and reserve banks. They are publicly available and are recognised by National Competent Authorities (NCAs), market participants, and national and international financial industry associations. For more information on the relevant financial benchmarks listed below, please consult the financial benchmark administrator, central or reserve bank.

The Saxo Bid/Offer financing rates are proprietary to Saxo and subject to the provisions in our General Business Terms. One provision could be pass-through of cost related to external factors, such as changes in domestic and/or foreign monetary or credit policies that affect the general interest level or changes in cost structures with liquidity providers and brokers.

As a reference, see applicable Benchmark Rates in the section below.

Commercial product markups/downs

For more information on our general pricing, please consult the page Pricing Overview 

Interest calculation and settlement

Interest will be calculated daily and settled monthly – within seven business days of the end of each calendar month.

The Saxo Bid/Ask rates are proprietary to Saxo and subject to the provisions in the General Business Terms. One such provisions could be pass-through of cost related to external factors, such as changes in domestic and/or foreign monetary or credit policies that affect the general interest level or changes in cost structures with liquidity providers and brokers.

We generally use Alternative Reference Rates (ARRs) as an input when setting Saxo Bid/Ask rates. For certain currencies, a money market rate, monetary policy rate or other relevant financial benchmark may apply as an input instead.

The benchmarks used when setting interest rates on deposits and financing rates on margin products are listed in the table below. Saxo reserves the right to apply a business lag to the publication of financial benchmarks when calculating and booking unrealised and realised interest.

Swipe left or right for more
CurrencyDay count conventionBenchmark rates
AEDACT/360Central Bank of United Arab Emirates (CBUAE) repo rate
AUDACT/365Australian Overnight Index Average (AONIA)
CADACT/365Canadian Overnight Repo Rate Average (CORRA)
CHFACT/360Swiss Average Rate Overnight (SARON)
CNHACT/360CNH China InterBank Repo
CZKACT/360Czech Overnight Index Average (CZEONIA)
DKKACT/360Denmark Short-Term Rate (DESTR) or Current-account rate
EURACT/360Euro Short-Term Rate (ESTR)
GBPACT/365Sterling Overnight Index Average (SONIA)
HKDACT/365HKD Overnight Deposit rate
HUFACT/360Hungarian Overnight Index Average (HUFONIA)
ILSACT/360Bank of Israel (BoI) rate
JPYACT/360Tokyo Overnight Average Rate (TONAR)
MXNACT/360Overnight TIIE funding rate
NOKACT/360Norwegian Overnight Weighted Average (NOWA)
NZDACT/365Reserve Bank of New Zealand (RBNZ) Official Cash Rate (OCR)
PLNACT/360Poland Overnight Index Average (POLONIA)
RONACT/360National Bank of Romania deposit rate
RUBACT/360Ruble Overnight Index Average (RUONIA)
SARACT/360Central Bank of Saudi Arabia (SAMA) reverse repo rate
SEKACT/360Swedish Short-Term Rate (SWESTR)
SGDACT/365Singapore Overnight Rate Average (SORA)
THBACT/365Thai Overnight Rate (THOR)
TRYACT/360Turkish Lira Reference Rate (TLREF)
USDACT/360Secured Overnight Financing Rate (SOFR)
ZARACT/365South Africa Benchmark Overnight Rate (SABOR)

When you trade an instrument in a currency that differs from your base denomination, conversions—including trading profits/losses—are executed using the FX spot mid-price, based on the time you close your position plus/minus 0.25 percent. We charge no more than plus/minus 0.25 percent in currency conversion fees.

The currency conversion fee does not apply to margin collateral. Only settlement of actual payments to or from the trading account are included—for example, buying/selling cash stocks or paying/receiving options premiums.

The rate used for currency conversion of amounts booked to your account is shown in the trading platforms under the Trades Executed report.

For clients on the Classic service level a fee of USD 50 – or the equivalent amount in the account currency – will be charged when client requests online reports to be delivered by email. This fee will also apply for third-party requests for reports from, for example, auditors.

Clients placing orders over the phone, chat or email will be subject to a manual order fee of EUR 50 per order.  Certain products that cannot be traded on the platform may be exempt.

You can request Forms 1042-S, however unless one or more of the conditions listed below are met, a EUR 1,000 handling fee per income year will apply:

  • You can provide proof that the IRS has requested a Form 1042-S from you.
  • Saxo Group applied the wrong relief-at-source US tax rate to your account.

If more than 10 forms are required per income year the fee will exceed EUR 1,000 per year.

A proxy voting service fee will be charged to clients who subscribe to Saxo Markets' meeting services. In addition, a per vote fee will be levied for every vote or change to a vote.

Description Cost
Service subscription
 EUR 30 p.a. excl. VAT
Vote/Changing a vote
 EUR 5 per vote excl. VAT

The Service subscription fee will be charged on a quarterly basis at the end of the quarter and is non-refundable. Clients opting in and out within the same quarter will be charged the full amount. When relevant, the service subscription fee will be converted to the applicable local currency and subject to a currency conversion charge. Note that the service subscription fee will first be charged at the end of Q4 2020, no service subscription fee will be charged for Q3 2020.

The per vote fee will be charged at the time of voting. When relevant, the per vote fee will be converted to the applicable local currency and subject to a currency conversion charge. The per vote fee will be incurred from 3 September 2020 and will first be charged at the end of Q4 2020. 

Please note that Classic and Platinum clients will be charged a fee of USD 200 for each new instrument added. VIP clients may request new instrument free of charge. The fee will be charged only when the requested instruments are successfully implemented. To check your current account tier, please go to the "Account" section of the platform and select the "Saxo Rewards" tab.

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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

Saxo Capital Markets HK Limited (“Saxo”) is a company authorised and regulated by the Securities and Futures Commission of Hong Kong. Saxo 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.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products may result in your losses exceeding your initial deposits. Saxo does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo does not take into account an individual’s needs, objectives or financial situation. Please click here to view the relevant risk disclosure statements.

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-hk/about-us/awards.

The information or the products and services referred to on this site may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and services offered on this website are not directed at, or intended for distribution to or use by, any person or entity residing in the United States and Japan. Please click here to view our full disclaimer.

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