General charges and fees

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

Costs and fees shown are available to new clients. Existing clients should refer to the trading platform for up-to-date details applicable to their account.

Interest on your main account is calculated on the Net Free Equity. Interest on sub-accounts is calculated on the Account Value.

Net Free Equity definition

Your Net Free Equity is:

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

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 under our General Business Terms.

As the Net Free Equity is calculated based on open trade positions across all your accounts, please ensure you have sufficient cash available on your main account currency. If you do not, you risk being subject to a debit interest in your main account currency.

Account Value definition

Account Value of your sub-account is:

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

Interest on accounts

The following interest rates apply to funds deposited with Saxo Markets 

  • For positive Net Free Equity/Account Value, the interest rate will be the highest of either: the Saxo Bid interest rates minus the markdown or zero. Interest will be paid on the full amount if the Net Free Equity/Account Value is above the threshold.
  • For negative Net Free Equity/Account Value, the interest rate will be the Saxo Offer interest rate plus a markup, but never less than the markup. Interest will be charged on the full amount for all Account Values/Net Free Equity.

For deposits in currencies with negative interest rates:

Saxo Markets charges negative interest based on relevant central bank rates. This charge applies to balances above the thresholds stated in the table below. The interest rates applied by central banks are continuously monitored by Saxo Markets. If a rate is changed, Saxo will adjust its negative interest rates accordingly with effect from the start of the next month.

The thresholds, markdown and markup are*:

Positive Net Free Equity/Account value
(currencies with negative rates)
VIPPlatinumClassic
Threshold EUR 1,000,000100,00050,000
Threshold CHF 1,000,000100,00050,000
Threshold DKK7,500,000750,000375,000
Markdown to central bank rate0%–0.25%–0.50%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

Positive Net Free Equity/Account value
(currencies with negative rates)
BronzeSilverGoldPlatinumDiamond
Threshold EUR 50,00050,00050,000100,0001,000,000
Threshold CHF 50,00050,00050,000100,0001,000,000
Threshold DKK375,000375,000375,000750,0007,500,000
Markdown to central bank rate–0.50%–0.50%–0.50%–0.25%0%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

 Positive Net Free Equity / Account Value
(currencies with positive rates)
BronzeSilverGold PlatinumDiamond
Net Free Equity / Account value above USD (or equivalent)250,000250,000250,000100,00050,000
Markdown to prevailing Saxo bid interest rate–3%–3%–3%–3%–1%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

Negative Net Free Equity / Account ValueBronzeSilverGoldPlatinumDiamond
 Markup to prevailing market rate however never less that the markup8%8%8%7%6%

On your main trading account, this threshold will apply to the available Net Free Equity. For sub-accounts it will apply to the account value. Thresholds apply across accounts in the same currency. Negative interest will be calculated daily for the credit balances exceeding the threshold. This will be debited to the main trading account or sub-accounts at the end of each month, for the interest period of the previous month (value date is the last day of the previous month).

*Markdown and markup varies based on the country of client residence.

Interest Calculation and Settlement

Interest will be calculated daily and settled monthly – within seven business days of the end of each calendar month. Interest is calculated according to the day count conventions and market standard set out in the table under Benchmarks Rates.

In supporting your financial aspirations and trading objectives, we provide both funding and liquidity for your trading activities in margin products. Our financing rates apply when you hold an open position in a margin product overnight e.g., a Contract for Difference (CFD) on a single stock.

Your financing rates consist of two components: 1) Saxo Bid/Offer financing rates and 2) Product markup/down.

The financing rates are set as:

  • Bid = Saxo Bid financing rate - product markdown
  • Offer = Saxo Offer financing rate + product markup

Saxo Bid/Offer financing rates

Saxo Bid/Offer financing rates refers to our pricing on financing i.e., we are charging floating interest rates. We use Alternative Reference Rates (ARRs) as an input when setting Saxo Bid/Offer financing rates. For currencies without a designated ARR, a money market rate, monetary policy rate or other relevant financial benchmark will apply as an input. 
Saxo Bid/Offer Financing Rates have a floor of zero percent, i.e. the interest rates can not be negative rates.

When you buy CFDs on single stocks e.g., in Hong Kong Dollars, we will convert our funding base into Hong Kong Dollars to finance the underlying purchase of the stocks. Conversely, if you are selling CFDs on a single stock e.g., in South African Rand, we will convert the proceeds from sale of the underlying stocks into our funding base currencies. These operations require active trading in various financial products in the interbank market to manage the liquidity cash flows generated by your trading activities.

ARRs have been developed by working groups consisting of national and international industry associations, market participants, as well as central and reserve banks. They are publicly available and are recognised by National Competent Authorities (NCAs), market participants, and national and international financial industry associations. For more information on the relevant financial benchmarks listed below, please consult the financial benchmark administrator, central or reserve bank.

The Saxo Bid/Offer financing rates are proprietary to Saxo Markets and subject to the provisions in our General Business Terms. One provision could be pass-through of cost related to external factors, such as changes in domestic and/or foreign monetary or credit policies that affect the general interest level or changes in cost structures with liquidity providers and brokers.

As a reference, see applicable Benchmark Rates in the section below.

Product markups/downs

For more information on our general pricing, please consult the page Pricing Overview 

Interest calculation and settlement

Interest will be calculated daily and settled monthly – within seven business days of the end of each calendar month.

The benchmarks used when setting interest rates on deposits and financing rates on margin products are listed in the table below. Saxo Markets reserves the right to apply a business lag to the publication of financial benchmarks when calculating and booking unrealised and realised interest.

Swipe left or right for more
CurrencyDay count conventionBenchmark rates
AEDACT/360Central Bank of United Arab Emirates (CBUAE) repo rate
AUDACT/365Australian Overnight Index Average (AONIA)
CADACT/365Canadian Overnight Repo Rate Average (CORRA)
CHFACT/360Swiss Average Rate Overnight (SARON) *)
CNHACT/360Chinese Offshore Yuan Hong Kong Interbank Offered Rate (CNH HIBOR)
CZKACT/360Czech Overnight Index Average (CZEONIA)
DKKACT/360Danmarks Nationalbank current-account rate
EURACT/360Euro Short-Term Rate (ESTR) **)
GBPACT/365Sterling Overnight Index Average (SONIA)
HKDACT/365Hong Kong Overnight Index Average (HONIA)
HUFACT/360Hungarian Overnight Index Average (HUFONIA)
ILSACT/360Bank of Israel (BoI) rate
JPYACT/360Tokyo Overnight Average Rate (TONAR)
MXNACT/360Overnight TIIE funding rate
NOKACT/360Norwegian Overnight Weighted Average (NOWA)
NZDACT/365Reserve Bank of New Zealand (RBNZ) Official Cash Rate (OCR)
PLNACT/360Poland Overnight Index Average (POLONIA)
RONACT/360National Bank of Romania deposit rate
RUBACT/360Ruble Overnight Index Average (RUONIA)
SARACT/360Central Bank of Saudi Arabia (SAMA) reverse repo rate
SEKACT/360Swedish Short-Term Rate (SWESTR)
SGDACT/365Singapore Overnight Rate Average (SORA)
THBACT/365Thai Overnight Rate (THOR)
TRYACT/360Turkish Lira Reference Rate (TLREF)
USDACT/360Secured Overnight Financing Rate (SOFR)
ZARACT/365South Africa Benchmark Overnight Rate (SABOR)

* For positive Net Free Equity or Account Value in Swiss Franc the applicable benchmark is Swiss National Bank (SNB) policy rate.

** For positive Net Free Equity or Account Value in Euros the applicable benchmark is European Central Bank (ECB) deposit facility rate.

The rate used for currency conversion - of trading costs as well as profits and losses from trading activities - of amounts booked to your account is based on the mid FX Spot rate at the applicable time, plus/minus the rates shown below. The rate is shown in the trading platforms under the "Trades Executed" or the "Historical Cash Transactions" report.

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.

CLASSICPLATINUMVIP
Account transfers0.30%0.30%0.30%
FX Options0.10%0.10%0.10%
Cash products0.75%0.60%0.45%
Margin products0.75%0.60%0.45%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

BronzeSilverGoldPlatinumDiamond
Account transfers0.30%0.30%0.30%0.30%0.30%
FX Options0.10%0.10%0.10%0.10%0.10%
Cash products0.75%0.675%0.60%0.45%0.375%
Margin products0.75%0.675%0.60%0.45%0.375%

Saxo Group does not charge for online deposits or withdrawals; however, charges may be imposed by intermediary banks or other parties involved (for example the remitting/receiving bank).

For more information on correspondent bank charges for withdrawals, please click here.

Saxo Markets does not charge an inactivity fee.

Custody fees for Stocks, ETFs/ETCs and bonds

Singapore Residents and Singapore Incorporated Entities are not charged a custody fee for accessing SGX stocks and ETFs. Aside from SGX stocks, Saxo Markets has implemented a fee 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 applies, as shown below. The custody fee will be calculated daily using the end of day values and charged on a monthly basis.

CLASSICPLATINUMVIP
Custody fee0.12%0.12%0.06%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

BronzeSilverGoldPlatinumDiamond
If opted into Securities Lending0.06%0%0%0%0%
If opted out of Securities Lending0.12%0.12%0.12%0.12%0.06%

 

Overnight positions in Futures and Contract Options are subject to a carrying cost, calculated on the basis of the daily margin requirement and applied when a position is held overnight.

The funding rates used for calculating the carrying cost is based on the relevant Interbank-rate plus a mark-up.

Carrying Cost = Margin requirement * Holding time * (Relevant Interbank rate + Markup) / (365 or 360 days). Please note that relevant benchmark rates are floored at 0%.

CLASSICPLATINUMVIP
Futures - carrying cost1.50%0.50%0%
Short contract options - carrying cost1.50%0.50%0%

For new clients who have opened an account on or after 29 November 2021, please refer to below table.

BronzeSilverGoldPlatinumDiamond
Futures - carrying cost1.50%1.50%1.50%0.50%0%
Short contract options - carrying cost1.50%1.50%1.50%0.50%0%

 

Small trade sizes incur a minimum ticket fee of USD 10. A small trade size is any trade below the commission threshold which for most currency pairs is 50,000 units of base currency, however variations occur. Full details can be found here.

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 email. This fee will also apply for third-party requests for reports from, for example, auditors.

For new clients who have opened an account on or after 29 November 2021, please see below.

For clients on the Bronze, Silver or Gold plans, the service level fee of USD 50 – or the equivalent amount in the account currency – will be charged when client requests online reports to be delivered by 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.

A proxy voting service fee will be charged to clients who subscribe to Saxo Markets' meeting services. In addition, a per vote fee will be levied for every vote or change to a vote.

Description Cost
Service subscription
 EUR 30 p.a. excl. VAT
Vote/Changing a vote
 EUR 5 per vote excl. VAT

The Service subscription fee will be charged on a quarterly basis at the end of the quarter and is non-refundable. Clients opting in and out within the same quarter will be charged the full amount. When relevant, the service subscription fee will be converted to the applicable local currency and subject to a currency conversion charge. Note that the service subscription fee will first be charged at the end of Q4 2020, no service subscription fee will be charged for Q3 2020.

The per vote fee will be charged at the time of voting. When relevant, the per vote fee will be converted to the applicable local currency and subject to a currency conversion charge. The per vote fee will be incurred from 3 September 2020 and will first be charged at the end of Q4 2020. 

Please note that Classic and Platinum clients will be charged a fee of USD 200 for each new instrument added. VIP clients may request new instruments free of charge. The fee will be charged only when the requested instruments are successfully implemented. To check your current account tier, please go to the "Account" section of the platform and select the "Saxo Rewards" tab.

For new clients who have opened an account on or after 29 November 2021, please see below.

Please note that clients on the Bronze, Silver, Gold or Platinum plans will be charged a fee of USD 200 for each new instrument added. Clients who are on the Diamond plan may request new instruments free of charge. The fee will be charged only when the requested instruments are successfully implemented.

See all our prices

Get ultra-competitive spreads and commissions across all asset classes, and receive even better rates as your volume increases. 

Ready to get started?

Opening an account takes around 5 minutes 

Saxo Markets
Most of our staff in Singapore are working from home to help limit the spread of the coronavirus. We remain at your service on the details below. Thank you for your understanding.

Contact Saxo

Select region

Singapore
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.

The information or the products and services referred to on this website may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website are not intended for residents of the United States, Malaysia and Japan. Please click here to view our full disclaimer.

This advertisement has not been reviewed by the Monetary Authority of Singapore.