Margin information

Review our margin requirements and other information related to margin trading with Saxo

To create a buffer between your trading capacity and the margin close-out level, which ESMA has standardised, we apply two different margin requirements:

  1. Initial margin: a pre-trade margin check on order placement, i.e. on opening a new position there must be sufficient margin collateral available on account to meet the initial margin requirement.
  2. Maintenance margin: a continuous margin check, i.e. the minimum amount of margin collateral that must be held on account to maintain an open position(s). Maintenance margin is used to calculate the margin utilisation.

See a full list of our Futures margin rates for retail clients here.

Collateral rates for margin trading

Please note, from 14 October 2019 at 14:00 GMT, only clients who are classified as Professional are allowed to use non-cash collateral (e.g. stocks/bonds) for margin trading.
Clients who are classified as Retail, are required to use cash as collateral for margin trading.

Saxo Bank 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%

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 Bank 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 Bank 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)95%
Very High Quality (AA)90%
High Quality (A)80%

 

* as rated internally by Saxo Bank

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 Bank 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 send an email to fixedincome@saxobank.com or contact your account executive.

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