CFD pricing

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Execution prices

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Index Tracker	Spread⁽¹⁾ Classic	Spread⁽¹⁾ Platinum	Spread⁽¹⁾ VIP	Contract Size	Currency	Fractional amount	Trading Hours⁽²⁾
Asia / Pacific
Australia 200	1.50	1.40	1.25	1 index	AUD	0.01	09:50 - 08:00⁽²⁾
Hong Kong	12.00	11.00	10.00	1 index	HKD	0.1	09:15 - 03:00⁽²⁾
Japan 225	12.00	10.00	8.00	1 index	JPY	-	08:30 - 06:15⁽²⁾
North America
US Tech 100 NAS	1.00	0.70	0.50	1 index	USD	0.01	18:00 - 17:00
US 30 Wall Street	1.40	1.40	1.40	1 index	USD	0.01	18:00 - 17:00
US 500	0.50	0.50	0.40	1 index	USD	0.1	18:00 - 17:00
European
Belgium 20	13.00	12.00	12.00	1 index	EUR	-	09:10 - 17:25
Denmark 25	3.50	2.50	2.00	1 index	DKK	-	09:05 - 16:55
EU Stocks 50	2.00	1.75	1.50	1 index	EUR	0.1	02:15 - 22:00
France 40	2.00	1.50	1.00	1 index	EUR	0.01	08:00 - 22:00
Germany 40	1.50	1.00	1.00	1 index	EUR	0.01	02:15 - 22:00
Germany Mid-Cap 50	35.00	30.00	25.00	1 index	EUR	0.01	09:10 - 17:25
Germany Tech 30	4.50	4.00	4.00	1 index	EUR	0.1	09:10 - 17:25
Italy 40	12.00 *	11.00 *	11.00 *	1 index	EUR	0.01	09:01 - 17:30
Netherlands 25	0.25	0.20	0.18	1 index	EUR	0.1	08:00 - 22:00
Norway 25	1.00	0.90	0.80	1 index	NOK	-	09:10 - 16:20
Portugal 20	25.00	20.00	15.00	1 index	EUR	-	08:10 - 16:25
South Africa 40	10.00	8.00	7.00	1 index	ZAR	0.1	08:30 - 17:30
Spain 35	8.00	6.50	4.00	1 index	EUR	0.01	08:00 - 20:00
Sweden 30	0.65	0.55	0.45	1 index	SEK	0.1	09:00 - 17:25
Switzerland 20	3.00	2.50	1.75	1 index	CHF	0.01	08:00 - 22:00
UK 100	1.00	0.90	0.85	1 index	GBP	0.01	01:00 - 21.00
UK Mid 250	44.00	42.00	40.00	1 index	GBP	0.01	09:05 - 16.55

All prices shown on this page are offered to new Saxo clients. Existing clients can access pricing information directly in the trading platform.

Actual price varies based on the country of client residence.

Index-tracking CFD contract details (expiring)

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Index Tracker	Spread⁽¹⁾ Classic	Spread⁽¹⁾ Platinum	Spread⁽¹⁾ VIP	Contract Size	Currency	Trading Hours⁽²⁾
US2000	0.50	0.40	0.40	1 index	USD	20:01 - 16:00
China 50	12.00	11.00	11.00	1 index	USD	09:01 - 01:55
India 50	4.00	3.00	3.00	1 index	USD	09:01 - 01:55
Singapore	0.30	0.20	0.20	1 index	SGD	08:31 - 01:55
Taiwan	0.40	0.30	0.30	1 index	USD	08:46 - 01:55

* Italy 40: Italian derivatives are subject to Italian Financial Transaction Tax (Stamp duty) which is applied for both buys and sells. Click here for more information about the Italian Financial Transaction Tax (IFTT). Also, an additional charge of 2 bps. (0.02%) of the trade amount is applied, to cover Saxo Bank’s increased cost of execution and hedging due to IFTT.

(1) Spreads: the spreads indicated are minimum spreads and depend on the spread of the underlying futures contract. If the underlying future trades at a spread that is larger than the minimum spread, the Index spread will be increased with the additional spread from the future. Example: Germany 40 normal spread is 1.5 index points if the future spread is 0.5 indicating normal conditions. If the liquidity is low in the future and the spread is 1, the Index spread will be 1.5 + (1 - 0.5) = 2.

(2) Trading hours are stated in the local hours of the underlying exchange - please note that the Hong Kong Index trading session has a mid-session break between 12:00-13:00 and an evening break between 16:30-17:15, the trading session in Japan 225 has a break between 15:25 and 15:55 and the Australia 200 there is a break between 16:30 and 17:10. For CHINA50 there is a mid-session break between 15:55 and 16:41. For INDIA50 there is a mid-session break between 18:05 and 19:16.For SINGAPORE there is a mid-session break between 17:10 and 18:16. For TAIWAN there is a mid-session break between 13:45 and 14:36.

All prices shown on this page are offered to new Saxo clients. Existing clients can access pricing information directly in the trading platform.

Actual price varies based on the country of client residence.

Exchange	Classic	Platinum	VIP
North America
NASDAQ	0.02 USD/share (min 10 USD)	0.015 USD/share (min. 7 USD)	0.01 USD/share (min. 3 USD)
New York Stock Exchange	0.02 USD/share (min 10 USD)	0.015 USD/share (min. 7 USD)	0.01 USD/share (min. 3 USD)
NYSE MKT	0.02 USD/share (min 10 USD)	0.015 USD/share (min. 7 USD)	0.01 USD/share (min. 3 USD)
Toronto Stock Exchange	0.03 CAD/share (min. 20 CAD)	0.02 CAD /share (min. 15 CAD)	0.015 CAD /share (min. 10 CAD)

Europe / Middle East / Africa
Athens Exchange	0.35% (min. 12 EUR)	0.30% (min. 12 EUR)	0.30% (min. 12 EUR)
BME Spanish Exchanges	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.06% (min. 10 EUR)
Budapest Stock Exchange	0.50% (min. 6,000 HUF)	0.40% (min. 5,000 HUF)	0.30% (min. 5,000 HUF)
Deutsche Börse (XETRA)	0.10% (min. 10 EUR)	0.07% (min. 8 EUR)	0.05% (min. 6 EUR)
Irish Stock Exchange	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.06% (min. 10 EUR)
Johannesburg Stock Exchange	0.25% (min. 100 ZAR)	0.20% (min. 80 ZAR)	0.15% (min. 80 ZAR)
London Stock Exchange	0.10% (min. 8 GBP)	0.07% (min. 7 GBP)	0.05% (min. 5 GBP)
London Stock Exchange (IOB)	0.10% (min. 20 USD)	0.08% (min. 15 USD)	0.06% (min. 12 USD)
Milan Stock Exchange *	0.17% (min. 12 EUR)	0.15% (min. 10 EUR)	0.13% (min. 8 EUR)
NASDAQ OMX Copenhagen	0.10% (min. 65 DKK)	0.07% (min. 50 DKK)	0.05% (min. 50 DKK)
NASDAQ OMX Helsinki	0.10% (min. 12 EUR)	0.07% (min. 10 EUR)	0.05% (min. 8 EUR)
NASDAQ OMX Stockholm	0.10% (min. 65 SEK)	0.07% (min. 50 SEK)	0.05% (min. 50 SEK)
NYSE Euronext Amsterdam (AEX)	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.06% (min. 8 EUR)
NYSE Euronext Brussels	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.06% (min. 8 EUR)
NYSE Euronext Lisbon	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.06% (min. 8 EUR)
NYSE Euronext Paris	0.10% (min. 10 EUR)	0.07% (min. 8 EUR)	0.05% (min. 6 EUR)
Oslo Stock Exchange	0.10% (min. 65 NOK)	0.08% (min. 50 NOK)	0.06% (min. 50 NOK)
Prague Stock Exchange	0.28% (min. 500 CZK)	0.25% (min. 350 CZK)	0.25% (min. 350 CZK)
SIX Swiss Exchange	0.10% (min. 12 CHF)	0.07% (min. 10 CHF)	0.05% (min. 8 CHF)
Vienna Stock Exchange	0.10% (min. 12 EUR)	0.08% (min. 10 EUR)	0.07% (min. 8 EUR)
Warsaw Stock Exchange	0.30% (min. 75 PLN)	0.25% (min. 65 PLN)	0.20% (min. 65 PLN)
Asia / Pacific
Australian Securities Exchange	0.10% (min. 8 AUD)	0.07% (min. 8 AUD)	0.05% (min. 6 AUD)
Hong Kong Exchange *	0.25% (min. 90 HKD)	0.22% (min. 80 HKD)	0.20% (min. 60 HKD)
Singapore Exchange *	0.20% (min. 25 SGD)	0.16% (min. 20 SGD)	0.14% (min. 15 SGD)
Tokyo Stock Exchange	0.15% (min. 1,000 JPY)	0.12% (min. 800 JPY)	0.10% (min. 600 JPY)

Instrument Name	Spread Minimum Classic	Spread Minimum Platinum	Spread Minimum VIP	Min. trade size	Trading hours⁽¹⁾	Expiry date
Metals
Gold	0.60	0.55	0.50	1	18:01-17:00	FND -2
Silver	3.50	3.00	2.50	25	18:01-17:00	FND -2
Platinum	1.70	1.40	1.10	1	18:02-17:00	FND -2
Palladium	1.75	1.45	1.05	1	18:01-17:00	FND -2
US Copper	0.55	0.50	0.45	500	18:01-17:00	FND -2
Energy
US Crude	0.05	0.05	0.03	25	18:01-17:00	LTD -2
UK Crude	0.05	0.05	0.03	25	01:01-22:55⁽²⁾	LTD
Heating Oil	0.35	0.30	0.25	500	18:01-17:00	LTD -2
Gasoline US	0.25	0.20	0.17	500	18:01 – 17:00	LTD -2
Gas Oil	1.25	1.00	0.75	1	01:01 – 21:55	LTD -2
US Natural Gas	0.017	0.014	0.011	200	18:01 – 17:00	LTD -2
CO2 Emissions	0.07	0.06	0.05	25	07:01 – 17:00	LTD -2
Agriculture
Corn	1.25	1.00	0.75	200	19:01 – 13:20	FND -2
Wheat	2.25	2.00	1.75	200	19:01 – 13:20	FND -2
Soybeans	1.75	1.50	1.25	200	19:01 – 13:20	FND -2
Softs & Meats
NY Sugar No. 11	0.05	0.05	0.03	5,000	03:31 – 13:00	LTD -2
NY Coffee	0.45	0.40	0.35	1,000	04:16 – 13:30	FND -2
NY Cocoa	9.00	7.00	5.00	1	04:46 – 13:30	FND -2
Live Cattle	0.175	0.150	0.125	2,000	08:31 – 13:05	LTD -2
Cotton	0.3	0.27	0.25	1,000	08:30 – 14:20	FND -2

Instrument Name	Spread Mark up Classic	Spread Mark up Platinum	Spread Mark up VIP	Min. trade size	Trading hours⁽¹⁾	Expiry	Expiry Time
USD Index	0.01000	0.00900	0.00800	100	20:00-17:00	LTD -2	11:00 EST
Euro / US Dollar	0.000200	0.00019	0.00018	5,000	17:00-16:00	FND -3	10:00 CST
Euro / Japanese Yen	0.03000	0.02000	0.02000	5,000	17:00-16:00	FND -3	10:00 CST
Euro / Swiss Franc	0.00020	0.00020	0.00020	5,000	17:00-16:00	FND -3	10:00 CST
Euro / British Pound	0.00025	0.00020	0.00020	5,000	17:00-16:00	FND -3	10:00 CST
British Pound / US Dollar	0.00030	0.00025	0.00025	5,000	17:00-6:00	FND -3	10:00 CST
Australian Dollar / US Dollar	0.00030	0.00020	0.00020	5,000	17:00-16:00	FND -3	10:00 CST

Instrument Name	Symbol	Spread Minimum Classic	Spread Minimum Platinum	Spread Minimum VIP	Min. trade size	Trading hours⁽¹⁾
German Government 10 year Bund	BUND	0.030	0.025	0.020	50 CFDs	01:16-22:00
German Government 5 year Bobl	BOBL	0.030	0.025	0.020	50 CFDs	01:16-22:00
German Government 2 year Schatz	SCHATZ	0.015	0.010	0.010	50 CFDs	01:16-22:00
Italian Government 10 year BTP	10YBTP	0.050	0.040	0.030	50 CFDs	08:01-18:55
French Government 10 year OAT	10YOAT	0.050	0.040	0.030	50 CFDs	08:01-18:55
10 Year US T-Note 10 year	10YUSTNOTE	0.060	0.050	0.040	50 CFDs	17:01-16:00
30 year US T-Bond 30 year	30YUSTBOND	0.080	0.070	0.060	50 CFDs	17:01-16:00

Option Root	Description	Contract Size	Currency
AEX	AEX Index	1 Index	EUR
DJX	Dow Jones Industrial Average Index	1/100 Index	USD
ESX	FTSE 100 Index	1 Index	GBP
MIBO	FTSE MIB Index	1 Index	EUR
NDX	Nasdaq 100 Index	1 Index	USD
NKY	Nikkei 225 (Osaka)	1 Index	JPY
ODAX	DAX Index	1 Index	EUR
OESX	Euro Stoxx 50 Index	1 Index	EUR
OMXSWE30	OMX Stockholm 30 Index	1 Index	SEK
OSMI	SMI Index	1 Index	CHF
PXA	CAC 40 Index	1 Index	EUR
SPX	S&P 500 Index	1 Index	USD
XJO	S&P ASX200 Index	1 Index	AUD

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When you trade CFDs at Saxo Bank, you finance the traded value through an overnight credit/debit charge. If you open and close a CFD position within the same trading day, you will not be subject to overnight financing.

When you hold a CFD position overnight your CFD position will consequently be subject to the following credit or debit:

Holding Long CFD position after 17:00 EST incurs a financing charge, which is calculated as follows:
- Price x No. of CFDs x (Saxo Offer financing rate + markup) x (Day count convention*)

Holding Short CFD position after 17:00 EST creates a financing credit, which is calculated as follows:
- Price x No. of CFDs x (Saxo Bid financing rate - markdown) x (Day count convention*)

*See Benchmark Rates

Overnight financing markup/down rates	Classic	Platinum	VIP
Index CFDs and Single Stock CFD's
Long/Short positions	+/-3.50%	+/-3.00%	+/-2.50%

Holding Long CFD position after 17:00 EST incurs a financing charge, which is calculated as follows:
- Price x No. of CFDs x (Saxo Offer financing rate + markup) x (Day count convention*)

Holding Short CFD position after 17:00 EST creates a financing credit, which is calculated as follows:
- Price x No. of CFDs x (Saxo Bid financing rate - markdown) x (Day count convention*)

*See Benchmark Rates

Overnight financing markup/down rates	Classic	Platinum	VIP
Index CFDs and Single Stock CFD's
Long/Short positions	+/-3.50%	+/-3.00%	+/-2.50%

Short positions in single stock CFDs held overnight are subject to a borrowing fee, which is related to the cost of borrowing the underlying shares in the market. The fee varies for each CFD, depending on market conditions and the availability of shares. Instruments in high demand for short selling on the broader market can experience an increased cost of borrowing the underlying shares.

The borrowing rate will be fixed when the position is opened, at a minimum of 0.50%, and will be charged on a monthly basis. Please note that for certain corporate action events the borrowing rate on the short position may be reset to the current rate in the market upon execution of the corporate action.

If you open and close a CFD position within the same trading day, you are not subject to borrowing costs.

Overnight positions in Expiring CFDs are subject to a carrying cost. The carrying cost is calculated on the basis of the daily margin requirement and applied when a position is held overnight. The funding rate used for calculating the carrying cost is based on the Saxo Offer Financing Rate + markup at: 3.5% (classic accounts), 1.5% (platinum accounts), or 0.5% (VIP accounts).

Carrying Cost = Margin requirement * Holding time * (Saxo Offer Financing Rate + Markup) / (365 or 360 days)

The Bid/Ask spread will be equal to the minimum target spread in approx. 99% of the quote updates, during the opening hours of the underlying cash market.

This gives clients an improved trading experience and a high degree of certainty with regards to trading costs associated with entering and closing CFD Index Tracker positions.

Please note that Fixed spreads are available for selected CFD indices only apply under normal market conditions up to the trade amounts listed in the table below.

Index Tracker Name		Symbol	Trade amount (contracts)*
	US Wall Street 30	US30.I	15
	US 500	US500.I	100
	US Tech 100 NAS	USNAS100.I	25
	EU Stocks	EU50.I	100
	France 40	FRA40.I	10
	Germany 40	GER40.I	10
	Italy 40	ITALY40.I	10
	Netherlands 25	NETH25.I	10
	Spain 35	SPAIN35.I	20
	Sweden 30	SWE30.I	100
	Switzerland 20	SWISS20.I	10
	UK 100	UK100.I	20
	Australia 200	AUS200.I	10
	Japan 225	JPY225.I	1,000
	Hong Kong	HK50.I	25