Forex Spreads & Commissions

FX Volume-based Discount Plan

Commission
Group
Req. Volume
(monthly) in USDm
Gross Commission
per USDm
Discount
per USDm
Net Commission
per USDm
Level 1 0 - 50 50 USD 0 USD 50
Level 2 50 - 100 50 USD -10 USD 40
Level 3 100 - 250 50 USD -20 USD 30
Level 4 250 - 500 50 USD -25 USD 25
Level 5 500 - 1,000 50 USD -30 USD 20
Level 6 > 1,000 50 USD -33 USD 17
  • Competitive and transparent pricing from as low as 0.1 pips, plus commission
  • Increasing commission discounts for larger cumulative trading volume*
  • 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 click here.

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.

Forex Risk Warning

Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk.


Saxo Capital Markets is required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. Please refer to our "Product Risk Categorisation".

Forex Risk Warning

Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk.


Saxo Capital Markets is required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. Please refer to our "Product Risk Categorisation".