Review our margin requirements and other information related to margin trading with Saxo
The margin requirement applicable to opening and maintaining a margin position consists of two elements:
- Initial margin: the amount of margin required to open a new position.
- Maintenance margin: the amount of margin required to maintain an open position.
A complete list of the margin requirement by currency pair can be viewed here as well as in the SaxoTraderGO and SaxoTraderPRO platforms, under Trading Conditions.
Margin requirements differ by currency pair and depend on the exposure in the currency pair. Margin requirements may be subject to regulatory mandated minimums and may be subject to change according to the underlying liquidity and volatility of the currency pair. For this reason, the most liquid currency pairs (the majors) in most cases require a lower margin requirement.
Saxo offers tiered margin methodology as a mechanism to manage political and economic events that may lead to the market becoming volatile and changing rapidly. With tiered margin, the average margin requirement (‘Blended Margin Requirement’) increases with the level of exposure. The opposite is also true; as the level of exposure decreases the margin requirement also decreases. This concept is illustrated below:
The different levels of exposure (or tiers) are defined as an absolute number of U.S. Dollars (USD) across all currency pairs. Each currency pair has a specific margin requirement in each tier.
Please note that margin requirements may be changed without prior notice. Saxo reserves the right to increase margin requirements for large position sizes, including client portfolios considered to be of high risk.
Collateral rates for margin trading
Saxo Markets allows a percentage of the investment in certain Stocks and ETFs to be used as collateral for margin trading activities. The collateral value of a stock or ETF position depends on the rating of the individual stocks or ETFs – please see conversion table below.
|Collateral value of position|
^ 60% collateral and 0% collateral can also apply to some stocks on this rating.
* 0% collateral can also apply to some stock on this rating.
Example: 75% of the value of a position in a Stock or ETF with Rating 1 can be used as collateral (instead of cash) to trade margin products such as Forex, CFDs, Futures and Options.
Please note that Saxo Markets reserves the right to decrease or remove the use of Stock or ETF investment as collateral for large position sizes, or stock portfolios considered to be of very high risk.
For a complete list of available stocks, ratings and collateral values, please click here.
For a complete list of available ETFs, ratings and collateral values, please click here.
Saxo Markets allows a percentage of the investment in certain bonds to be used as collateral for margin trading activities.
The collateral value of a bond position depends on the rating of the individual bond, as outlined below:
|Rating definition*||Collateral percentage|
|Highest Rating (AAA)||92%|
|Very High Quality (AA)||90%|
|High Quality (A)||80%|
Example: 80% of the market value of a bond position with an A rating can be used as collateral (instead of cash) to trade margin products such as Forex, CFDs or Futures and Options.
Please note that Saxo Markets reserves the right to decrease or remove the use of bond positions as collateral.
For further guidance or to request the rating and collateral treatment of a specific or potential bond position, please contact your Account Manager.
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