Margin information

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:

  1. Initial margin: the amount of margin required to open a new position.
  2. 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.

The margin requirement applicable to opening and maintaining a margin position consists of two elements:

  1. Initial margin: the amount of margin required to open a new position.
  2. Maintenance margin: the amount of margin required to maintain an open position.

The initial and maintenance margin of a single stock CFD is based on the stock rating. Saxo defines 6 different stock ratings. This rating is derived from the market capitalization, liquidity and volatility of the underlying asset.

A stock with rating 1 has an initial margin of 10%. This means that this stock can be traded at 10:1 leverage.

RatingInitial MarginMaintenance Margin
1*10.00%9.00%
220.00%12.50%
320.00%17.50%
430.00%25.00%
550.00%45.00%
6110.00100.00%

View individual Single Stock CFD margins

The margin requirement applicable to opening and maintaining a margin position consists of two elements:

  1. Initial margin: the amount of margin required to open a new position.
  2. Maintenance margin: the amount of margin required to maintain an open position.

An Index CFD with an initial margin of 5% can be traded at 20:1 leverage.


Index CFDs margins (normal market conditions)

 Index TrackerInitial MarginMaintenance Margin
US Wall Street 305%2.5%
US 5005%2.5%
US Tech 100 NAS5%2.5%
Belgium 205%4.5%
Denmark 2520%10%
EU Stocks 505%2.5%
France 405%2.5%
Germany 305%2.5%
Germany Mid-Cap 505%4.5%
Germany Tech 305%4.5%
Italy 405%4.5%
Netherlands 2520%10%
Norway 2520%10%
Portugal 2020%10%
South Africa 4020%10%
Spain 355%4.5%
Sweden 305%4.5%
Switzerland 2020%10%
UK 1005%2.5%
UK Mid 2505%4.5%
Australia 2005%2.5%
Japan 2255%2.5%
Hong Kong5%4.5%

Index CFDs contract details (expiring)

Index TrackerInitial MarginMaintenance Margin
China 5020%10%
India 5020%10%
Singapore20%10%
Taiwan20%10%
US200020%10%

The margin requirement applicable to opening and maintaining a margin position consists of two elements:

  1. Initial margin: the amount of margin required to open a new position.
  2. Maintenance margin: the amount of margin required to maintain an open position.
Instrument NameSymbolInitial MarginMaintenance Margin
CURRENCIES
Euro / US DollarEURUSDEC20%10%
Euro / Japanese YenEURJPYRY20%10%
Euro / Swiss FrancEURCHFRF20%10%
Euro / British PoundEURGBPRP20%10%
British Pound / US DollarGBPUSDBP20%10%
Australian Dollar / US DollarAUDUSDAD20%10%
USD IndexUSDINDEX20%10%

The margin requirement applicable to opening and maintaining a margin position consists of two elements:

  1. Initial margin: the amount of margin required to open a new position.
  2. Maintenance margin: the amount of margin required to maintain an open position.

A Commodity CFD with an initial margin of 20% can be traded at 5:1 leverage.

Instrument NameSymbolInitial MarginMaintenance Margin

METALS
GoldGOLD20%10%
SilverSILVER20%10%
PlatinumPLATINUM20%10%
PalladiumPALLADIUM20%10%
US CopperCOPPERUS20%10%


ENERGY
US CrudeOILUS20%10%
UK CrudeOILUK20%10%
Heating OilHEATINGOIL20%10%
Gasoline USGASOLINEUS20%10%
Gas OilGASOILUK20%10%
US Natural GasNATGAS20%10%
CO2 EmissionsEMISSIONS20%10%


AGRICULTURE
CornCORN20%10%
WheatWHEAT20%10%
SoybeansSOYBEANS20%10%


SOFTS
NY Sugar No. 11SUGARNY20%10%
NY CoffeeCOFFEE20%10%
NY CocoaCOCOA20%10%


MEATS
Live CattleLIVECATTLE20%10%

The margin requirement applicable to opening and maintaining a margin position consists of two elements:

  1. Initial margin: the amount of margin required to open a new position.
  2. Maintenance margin: the amount of margin required to maintain an open position.

A Bond CFD with an initial margin of 20% can be traded at 5:1 leverage.

Initial MarginMaintenance MarginProduct/Instrument
20%10%German Government 5 year Bobl
German Government 2 year Schatz
20%10%German Government 10 year Bund
20%10%French Government 10 year OAT
20%10%Italian Government 10 year BTP

By default retail margins rates will apply. You can choose to recategorize as an elective professional to take advantage of lower margins requirements*. To read more about the benefits of professional accounts and how to qualify, please click here.

To get an overview of the margin information for elective professionals please click here.

Collateral rates for margin trading

(Professional clients only)

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.

Rating
1 ^
2 *
3 *
4 *
5
6
Collateral value of position
75%
50%
50%
25%
0%
0%

^ 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.

Read the FAQs on Stocks Collateralization.
Read the Terms and Conditions applicable to Stocks Collateralization.

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%

 

* as rated internally by Saxo Group

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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