​​​​​​​Due to the introduction or ongoing levy of negative interest rates on account credit balances by some central banks and deposit banks, Saxo Group will charge negative interest rates on our standard institutional offering in the relevant reference currencies. As Saxo places our clients’ cash conservatively, Saxo is sharing this burden and not completely recovering our costs for the benefit of our clients.

The charge will apply to overall White Label net free equity balances above the threshold currently indicated in the table below.

The negative interest will be calculated daily on the overall White Label net free equity exceeding the threshold and debited to the relevant interest accounts at the end of each month for the interest period of the previous month*. Accounts under a White Label agreement which have previously been excluded from interest calculations will now be included.

The thresholds and negative interest rates for standard institutional interest rates are currently at:



Negative interest rate (p.a.)














The negative interest rates indicated above will be charged as of 1 March 2017 and apply until further notice. The rates charged are subject to change. The information is also provided on the trading platforms and on Saxo’s institutional prevailing rates website at in accordance with the General Business Terms.

The reference interest rates applied by the central banks are continuously monitored by Saxo Group. If the negative interest rate environment was to change, Saxo aims at adjusting the negative interest rates.

Thank you for your understanding. Please contact your account executive if you have any queries. 

*value date is the last day of the previous month