General Charges

We’re fully transparent about our charges, so you’ll always know how much it costs to trade and invest with us.

Interest on your main account is calculated on the Net Free Equity.

Interest on sub-accounts is calculated on the Account Value.

Since the Net Free Equity is calculated on open trade positions on all your accounts, it is important to make sure that sufficient cash is available on your main account.

Otherwise, you risk being subject to a debit interest on your main account exceeding the credit interest payable on your sub-account(s).

Your Net Free Equity is:

  • The value dated cash balance of your main trading account
  • Plus or minus any unrealised profits or losses from open CFDs, FX Forwards and Futures on your main trading account
  • Plus the market value of any FX Options on your main trading account
  • Minus any margin required for financing open positions on your main trading account and sub-accounts

Net Free Equity margin financing

The margin financing requirement may differ from the trading margin requirement. See the full list of cash collateral for margin financing used for Net Free Equity calculation here.

To avoid paying overdraft interest on your account you are required to hold sufficient cash collateral ensuring a positive Net Free Equity Balance.

Account Value of your sub-account is:

  • The value dated cash balance of the account
  • Plus or minus the value of any unrealised profits or losses from open CFDs, FX Forwards and Futures on the account
  • Plus the market value of any FX Options on the account

The following interest rates apply to funds deposited with Saxo Markets:

Net Free Equity above USD 15,000 (or equivalent):

  • Interest paid on the full amount on the account is the higher of market bid rates minus 3 % and zero

Positive Net Free Equity up to USD 15,000 (or equivalent):

  • No account interest

Negative Net Free Equity:

  • Interest will be charged at market ask rates plus 8 %, however never less than 8 %

On the main trading account, this threshold will be applied to the available net free equity and, in the case of sub-accounts to the account value. The negative interest will be calculated daily for the account credit balance exceeding the threshold and debited to the main trading accounts or sub-accounts at the end of each month for the interest period of the previous month.

Saxo Markets reserves the right to charge negative interest rates on our standard offering in relevant reference currencies. Such charges will apply to balances above the threshold currently indicated in the table below.

The rates charged are subject to change.

 Threshold  Negative interest rate (p.a.)
EUR
250,0000.40%
CHF
250,0000.75%
DKK
2,000,0000.65%
SEK
2,500,000–0.50%

 

The following interest rates apply to funds deposited with Saxo Markets:

  • For positive Net Free Equity interest will be the higher of market bid rates minus a mark-up and zero. Interest will be paid on the full amount for all Account Values.
  • For negative Net Free Equity interest will be market ask rates plus a mark-up, however never less than the mark-up. Interest will be charged on the full amount for all Account Values

On the main trading account, this threshold will be applied to the available net free equity and, in the case of sub-accounts to the account value. The negative interest will be calculated daily for the account credit balance exceeding the threshold and debited to the main trading accounts or sub-accounts at the end of each month for the interest period of the previous month.

Saxo Markets will charge negative interest rates on our standard offering in relevant reference currencies. The charge will apply to balances above the threshold currently indicated in the table below.

The rates charged are subject to change.

ThresholdNegative interest rate (p.a.)
EUR250,000–0.40%
CHF250,0000.75%
DKK2,000,0000.65%
SEK2,500,0000.50%

Withholding tax in interest
For any interest paid to a non-resident of Singapore, which are sourced in Singapore or deemed to be sourced in Singapore, Saxo Capital Markets is required to withhold tax from the relevant payments and pay the tax withheld to the Comptroller of Singapore. The withholding tax rate will at all times be the applicable rate, currently 15%. 
 
Calculation and settlement
Interest will be calculated daily and settled monthly within seven business days after the end of each calendar month

Currency conversions of trading costs as well as profits and losses from trading activities are executed at the mid FX Spot rate when you close the position, plus/minus 0.5 %. For FX Options the rate is plus/minus 0.1 %.

The Currency Conversion fee does not apply to margin collateral. Only settlement of actual payments to or from the trading account are included, for example, buying/selling cash Stocks, paying/receiving options premium etc.

The rate used for currency conversion of amounts booked to your account is shown in the trading platforms under the “Trades Executed” report.

Custody fees for Stocks, ETFs/ETCs and bonds

Singapore Citizens, PRs, and Singapore Incorporated Entities are not charged a custody fee for accessing SGX stocks. Aside from SGX stocks, Saxo Capital Markets has implemented a fee structure for the purpose of ensuring a cost structure that reflects the client’s actual usage of the trading platforms.

For accounts with Stocks, ETFs/ETCs or Bond positions, an annual custody fee of 0.12% will apply. The custody fee will be calculated daily using the end of day values and charged on a monthly basis.

Custody fee p.a.
Stocks and ETFs/ETCs0.12 %
Bonds0.12 %

For clients on the Classic service level a fee of USD 50 – or the equivalent amount in the account currency – will be charged when client requests online reports to be delivered by standard mail or email. This fee will also apply for third-party requests for reports from, for example, auditors.

Transfer in fee
Saxo does not charge any fees for incoming transfers of securities from your other brokerage accounts.

Transfer out fee
For transfers of securities to your brokerage account outside Saxo Markets, an exit fee will be charged. The fees are EUR 50 per ISIN (max EUR 160 per transfer request).

DRS Stock Transfer Fees
Please note that special fees for stock transfers under the Direct Registration System (DRS) apply, refer to the Fee Schedule for more information. For all security transfers these are restricted to the instruments included in Saxo’s prevailing instrument coverage.

Clients placing orders over the phone, chat or email will be subject to a manual order fee of EUR 50 per order.  Certain products that cannot be traded on the platform may be exempt.

You can request Forms 1042-S, however unless one or more of the conditions listed below are met, a EUR 1,000 handling fee per income year will apply:

  • You can provide proof that the IRS has requested a Form 1042-S from you.
  • Saxo Group applied the wrong relief-at-source US tax rate to your account.

If more than 10 forms are required per income year the fee will exceed EUR 1,000 per year.

The margin requirement applicable to opening and maintain 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.

The margin requirement is as indicated on the relevant product trading rates and conditions page or displayed on the trading platform. The margin is usually a small percentage of the overall value of the contract. Although the margin required is small in comparison to the overall value of the contract, price movement may result in the requirement to place additional funds at a short notice to satisfy the margin requirement in order to maintain the position(s).

Therefore, it is your responsibility to effectively manage and monitor your account at all times to ensure that the maintenance margin does not reach or exceed 100%. If your maintenance margin utilisation reaches or exceeds 100%, your margin positions may automatically be closed out, and any open orders on margin positions will be cancelled. In such an event, you will be liable for any resulting losses incurred.

Please refer to the platform for information on product rates and conditions.

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Saxo Markets
3 Church Street, #30-00
Samsung Hub
Singapore 049483

All departments are available 08:30 to 17:30 Monday to Friday.

Singapore

Saxo Capital Markets Pte Ltd ('Saxo Markets') is a company authorised and regulated by the Monetary Authority of Singapore (MAS) [Co. Reg. No.: 200601141M ] and is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms & Risk Warning to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products such as Margin FX products may result in your losses exceeding your initial deposits. Saxo Markets does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Markets does not take into account an individual’s needs, objectives or financial situation.

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-sg/about-us/awards.

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