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Commissions, Charges and Margin Schedule

Interest on your main account is calculated on the Net Free Equity.

Interest on sub-accounts is calculated on the Account Value.

Since the Net Free Equity is calculated on open trade positions on all your accounts, it is important to make sure that sufficient cash is available on your main account.

Otherwise, you risk being subject to a debit interest on your main account exceeding the credit interest payable on your sub-account(s).

Your Net Free Equity is:

  • The cash balance of your main trading account
  • Plus or minus any unrealised profits or losses from open FX Forwards and Futures on your main trading account
  • Plus the market value of any FX Options on your main trading account
  • Minus any margin required for financing open positions on your main trading account and sub-accounts

Net Free Equity margin financing

The margin financing requirement may differ from the trading margin requirement. See the full list of cash collateral for margin financing used for Net Free Equity calculation here.

To avoid paying overdraft interest on your account you are required to hold sufficient cash collateral ensuring a positive Net Free Equity Balance.

Account Value of your sub-account is:

  • The cash balance of the account
  • Plus or minus the value of any unrealised profits or losses from open FX Forwards and Futures on the account
  • Plus the market value of any FX Options on the account

The following interest rates apply to funds deposited with Saxo Capital Markets:

Net Free Equity above USD 15,000 (or equivalent):

  • Interest paid on the full amount on the account is the higher of market bid rates minus 3 % and zero

Positive Net Free Equity up to USD 15,000 (or equivalent):

  • No account interest

Negative Net Free Equity:

  • Interest will be charged at market ask rates plus 8 %, however never less than 8 %

The following interest rates apply to funds deposited with Saxo Capital Markets:

  • For positive Net Free Equity interest will be the higher of market bid rates minus a mark-up and zero. Interest will be paid on the full amount for all Account Values.
  • For negative Net Free Equity interest will be market ask rates plus a mark-up, however never less than the mark-up. Interest will be charged on the full amount for all Account Values

As of 1 March 2017, Saxo Capital Markets will charge negative interest rates on our standard offering in relevant reference currencies. The charge will apply to balances above the threshold currently indicated in the table below.

On the main trading account, this threshold will be applied to the available net free equity and, in the case of sub-accounts to the account value. The negative interest will be calculated daily for the account credit balance exceeding the threshold and debited to the main trading accounts or sub-accounts at the end of each month for the interest period of the previous month.

The rates charged are subject to change.

ThresholdNegative interest rate (p.a.)

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

Currency conversions of trading costs as well as profits and losses from trading activities are executed at the mid FX Spot rate when you close the position, plus/minus 0.5 %. For FX Options the rate is plus/minus 0.1 %.

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, paying/receiving options premium etc.

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

Custody fees for Stocks, ETFs/ETCs and bonds

Saxo Capital Markets has implemented a fee structure for the purpose of ensuring a cost structure that reflects the client’s actual usage of the trading platforms.

For accounts with Stocks*, ETFs/ETCs or Bond positions, an annual custody fee of 0.12% will apply. The custody fee will be calculated daily using the end of day values and charged on a monthly basis.

Custody fee p.a.
Stocks and ETFs/ETCs0.12 %
Bonds0.12 %

* Stocks traded on Hong Kong Stock Exchange will be exempted from the above fees.

For clients on the Classic service level, an inactivity fee on the amount of USD 100.00 –or the equivalent amount in the account currency- will be charged where the client does not execute any trades on his/her account for a period of 6 consecutive months (180 days).

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.

For transfers of Stocks to your account outside Saxo Capital Markets, an exit fee will be charged. The fees are HKD 500 per ISIN (max HKD 1,600).

Changes to DRS Stock Transfer Fees

Please note that fees for stock transfers under the Direct Registration System (DRS) have been revised with immediate effect.

Please refer to the Fee Schedule for more information.

Saxo Capital Markets HK Limited
Rooms 2001-02, 20/F York House
The Landmark
15 Queen's Road Central
Hong Kong

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) and Type 3 Regulated Activity (Leveraged foreign exchange trading) licenses (CE No. AVD061). Registered address: Rooms 2001-02, 20/F York House, The Landmark, 15 Queen's Road Central, Hong Kong

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