FX pricing

Find details of our industry-leading FX spreads and low financing costs.

Execution prices

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

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InstrumentClassicPlatinumVIP
EUR USD0.60.50.4
GBP USD0.70.60.4
USD JPY0.60.50.4
EUR JPY0.90.80.6
AUD USD0.40.30.3
Live and historical spreadsLive and historical spreadsLive and historical spreads

Financing details

The FX Spot market is used for immediate currency trades. The term “Spot” refers to the standard settlement convention of two business days after the trade date (known as T+2)1 . For example, a EURUSD trade executed on a Monday will settle on a Wednesday (if there is not a public holiday in either currency on Tuesday or Wednesday, in which case the trade will be settled on the next available business day). The settlement period refers to the amount of time that is allotted to both parties to satisfy the trade’s obligations. At Saxo, FX Spot trades do not settle. Instead, open positions held at the end of a trading day (17.00 Eastern Standard Time) are rolled forward to the next available business day2.

The rollover is made up of two components; the Tom/Next swap points (Forward Price) and the financing of unrealised profit/loss (Financing Interest).

1. Tom/Next swap points (Forward Price)
The swap points used are calculated using market swap prices from Tier-1 banks, plus/minus a mark-up corresponding to +/- 0.60% (classic clients) or +/-0.35% (platinum clients)3 or +/-0.25% (VIP clients)3 of the Tom/Next interest swap rates. The final rate is used to adjust the opening price of the position4.

2. Financing of unrealised profit/loss (Financing Interest)
Any unrealised profit/loss on positions that are rolled from one day to the next are subject to an interest credit or debit. The unrealised profit/loss is calculated as the difference between the opening price of a position (possibly corrected for previous Tom/Next rollovers) and the Spot price at the time that the rollover is performed.

The rate is calculated based on the daily market overnight interest rates plus/minus a mark-up corresponding to +/- 2.00%. The final rate is used to adjust the opening price of the position4.


1 The standard settlement convention of T+2 is applicable for the majority of currency pairs; however there are exceptions to this rule e.g. USDCAD, which has a settlement convention of one day after the trade date (T+1).

2 The global market convention is that the value date rolls forward at 17.00 Eastern Standard Time, however there are exceptions to this rule e.g. NZD, which rolls forward at 07.00 New Zealand Daylight Time.

3 An additional +/- 0.30% mark-up is applied to Mexican Peso (MXN), Russian Ruble (RUB), Turkish Lira (TRY) and South African Rand (ZAR) currency crosses.

4 Applicable to the default rollover methodology.

Find more information about our general charges here.

In order to provide full transparency to clients, we publish the swap points used for the Tom/Next rollover once a day.

To review the historic swap points click here.

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Get ultra-competitive spreads and commissions across all asset classes, and receive even better rates as your volume increases. 

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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.
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 further information click here

Saxo Bank A/S - Representative Office
Boulevard Plaza - Tower 1
30th floor, office 3002
Dubai Downtown, Burj Khalifa area
Dubai
UAE

UAE

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All trading carries risk. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

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