CFD Margins

CFDs are traded on margin. This means that you are able to leverage your investment by opening positions of larger size than the funds you have to place as margin collateral.

The margin is the amount reserved on your trading account to cover any potential losses from an open CFD position. Please also note that it is possible that a loss may exceed the required margin when trading on leverage.

Margin requirements vary from instrument to instrument and can be changed at any time to reflect market conditions. Clients will be notified in advance where possible for larger re-ratings or changing of margin requirements for very popular instruments.

Margin requirements by CFD type and instrument are always listed under the CFD Trading Conditions on the trading platforms but can also be seen below.

Please note that Saxo Capital Markets reserves the right to increase margin requirements for large position sizes, including client portfolios which are considered to be of very high risk or where market conditions require such increases.

It is your responsibility to ensure that the required margin collateral, as listed in the Account Summary on the trading platforms, is maintained at all times. If the funds in your account fall below this margin, you will be subject to a margin call where you must either:

  • Reduce the size of the open margin positions and/or
  • Provide more funds (margin collateral) to the trading account.

When the required margin exceeds your margin collateral, you are at risk of a stop-out. In such a circumstance, Saxo Capital Markets is entitled to close ALL your margin positions on your behalf.

Index-tracking CFD contract details (continuous)

Index TrackerStandard Margin

NORTH AMERICA

US 30 Wall Street5%
US 5005%
US Tech 100 NAS5%


EUROPE, MIDDLE EAST & AFRICA

Belgium 205%
Denmark 2020%
Denmark 20 Cap20%
EU Stocks 505%
France 405%
Germany 305%
Germany Mid-Cap 505%
Germany Tech 305%
Italy 405%
Netherlands 2520%
Norway 2520%
Portugal 2020%
South Africa 4020%
Spain 355%
Sweden 305%
Switzerland 2020%
UK 1005%
UK Mid 2505%


ASIA / PACIFIC

Australia 2005%
Japan 2255%
Hong Kong5%


 Index-tracking CFD contract details (expiring)

Index TrackerStandard Margin
China 5020%
India 5020%
Singapore20%
Taiwan20%
US200020%

We have sorted our more than 8,800 online tradable CFDs in 5 different margin groups. Which margin group a CFD falls into depends on the market capitalisation, liquidity and volatility of the underlying asset. The leverage available on Single Stock CFDs begin at 10:1 which corresponds to only 10% margin.

RatingMargin requirement
1*10%
220%
340%
480%
5100%

*Leverage of 5:1 which is equivalent to 20% margin requirement and 10:1 (10% margin requirement) could also apply to some of the Stock Index Trackers and Single Stock CFD/ETF CFD. 

View individual Single Stock CFD margins

Instrument NameSymbolMargin RequirementLeverage

METALS

GoldGOLD20%5:1
SilverSILVER20%5:1
PlatinumPLATINUM20%5:1
PalladiumPALLADIUM20%5:1
US CopperCOPPERUS20%5:1


ENERGY

US CrudeOILUS20%5:1
UK CrudeOILUK20%5:1
Heating OilHEATINGOIL20%5:1
Gasoline USGASOLINEUS20%5:1
Gas OilGASOILUK20%5:1
US Natural GasNATGAS20%5:1
CO2 EmissionsEMISSIONS20%5:1


AGRICULTURE

CornCORN20%5:1
WheatWHEAT20%5:1
SoybeansSOYBEANS20%5:1


SOFTS

NY Sugar No. 11SUGARNY20%5:1
NY CoffeeCOFFEE20%5:1
NY CocoaCOCOA20%5:1


MEATS

Live CattleLIVECATTLE20%5:1

The leverage available for Forex CFDs is 5:1 which equals to 20% in margin.

Instrument NameSymbolMargin RequirementLeverage

CURRENCIES

Euro / US DollarEURUSDEC20%5:1
Euro / Japanese YenEURJPYRY20%5:1
Euro / Swiss FrancEURCHFRF20%5:1
Euro / British PoundEURGBPRP20%5:1
British Pound / US DollarGBPUSDBP20%5:1
Australian Dollar / US DollarAUDUSDAD20%5:1
USD IndexUSDINDEX20%5:1

See under 'Single Stock CFDs'.

Trading risks are magnified by leverage – losses can exceed your deposits. Trade only after you have acknowledged and accepted the risks. You should carefully consider whether trading in leveraged products is appropriate for you based on your financial circumstances. Please consider our Risk Warning and General Business Terms before trading with us.

CFDs Risk Warning
risk-icon--red

A CFD is categorised as a red product as it is considered an investment product with a high complexity and a high risk.


Saxo Capital Markets is required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. Please refer to our "Product Risk Categorisation".