CFDs Spreads and Commissions

Index Tracker CFD spreads

Index-tracking CFD contract details (continuous)

Index Tracker Spread (1)
Standard
Spread (1)
Active (5)
Value of one
contract (2)
Trading Hours (3)
North America
US Tech 100 NAS
1.0 0.5 USD 1 18:01 - 16:00
US 30 Wall Street
3.0 2.0 USD 1 18:01 - 16:00
US 500
0.9 0.4 USD 1 18:01 - 16:00
Europe / Middle East / Africa
Belgium 20
13 12 EUR 1 09:10 - 17:25
Denmark 20
2.5 0.75 DKK 1 09:10 - 16:55
EU Stocks 50
2.0 1.75 EUR 1 08:01 - 21:55
France 40
2.0 1.0 EUR 1 08:01 - 21:55
Germany 30
1.5 1.0 EUR 1 08:01 - 21:55
Germany Mid-Cap 50
15 7.0 EUR 1 09:10 - 17:25
Germany Tech 30
4.5 4.0 EUR 1 09:10 - 17:25
Italy 40
12* 11* EUR 1 09:01 - 17:30
Netherlands 25
0.25 0.18 EUR 1 08:01 - 21:55
Norway 25
1.0 0.8 NOK 1 09:10 - 16:15
Portugal 20
25 15 EUR 1 08:10 - 16:25
South Africa 40
10 7.0 ZAR 1 08:31 - 17:25
Spain 35
8.0 4.8 EUR 1 09:01 - 19:55
Sweden 30
0.65 0.45 SEK 1 09:01 - 17:24
Switzerland 20
3.0 1.75 CHF 1 08:01 - 21:55
UK 100
1.0 0.85 GBP 1 01:01 - 20.55
UK Mid 250
44 40 GBP 1 08:10 - 16.25
Asia / Pacific
Australia 200
1.5 1.4 AUD 1 09:51 - 05:55 (3)
Hong Kong
12 10 HKD 1 09:16 - 22:55 (3)
Japan 225
12 8.0 JPY 1 08:46 - 02:55 (3)

Index-tracking CFD contract details (expiring)

Index Tracker Name Spread Mark up (4)
Standard
Spread Mark up (4)
Active (5)
Value of one contract (2) Trading Hours (3)
US2000
0.5 0.40 USD 1 20:01 - 16:00
China 50
12 11 USD 1 09:01 - 01:55
India 50
4.0 3.0 USD 1 09:01 - 01:55
Singapore
0.30 0.20 SGD 1 08:31 - 01:55
Taiwan
0.40 0.30 USD 1 08:46 - 01:55

* Italy 40: Italian derivatives are subject to Italian Financial Transaction Tax (Stamp duty) which is applied for both buys and sells. Click here for more information about the Italian Financial Transaction Tax (IFTT). Also, an additional charge of 2 bps. (0.02%) of the trade amount is applied, to cover Saxo Bank’s increased cost of execution and hedging due to IFTT.

(1) Spreads: the spreads indicated are minimum spreads and depend on the spread of the underlying futures contract. If the underlying future trades at a spread that is larger than the minimum spread, the Index spread will be increased with the additional spread from the future. Example: Germany 30 normal spread is 1.5 index points if the future spread is 0.5 indicating normal conditions. If the liquidity is low in the future and the spread is 1, the Index spread will be 1.5 + (1 - 0.5) = 2.

(2) Point Value of one contract: this is the currency risk you incur with one Stock Index CFD contract. The increment of risk is also one currency unit (i.e. you can increase your position by increments of one index). There is no minimum commission for Stock Index CFD traders.

(3) Trading hours are stated in the local hours of the underlying exchange - please note that the Hong Kong Index trading session has a mid-session break between 12:00-13:00 and an evening break between 16:10-17:01, the trading session in Japan 225 has a break between 3:20 pm and 4:16 pm and the Australia 200 there is a break between 16:25 and 17:11. For CHINA50 there is a mid-session break between 15:55 and 16:41. For INDIA50 there is a mid-session break between 18:05 and 19:16.For SINGAPORE there is a mid-session break between 17:10 and 18:16. For TAIWAN there is a mid-session break between 13:45 and 14:36.

(4) Expiring CFD Index Trackers trade on the spread of the underlying Future plus a small mark up.

(5) For Active pricing see section in the bottom of this page

Single Stock and ETF CFD Commissions

Exchange name Symbol Commission
Standard
Commission
Active *)
North America & Canada
NASDAQ
NASDAQ & NSC 0.02 USD/share
(min 20 USD)
from 6 USD (1)
New York Stock Exchange
NYSE & ARCA 0.02 USD/share
(min 20 USD)
from 6 USD (1)
NYSE MKT
AMEX 0.02 USD/share
(min 20 USD)
from 6 USD (1)
Toronto Stock Exchange
TSE 0.03 CAD/share
(Min 25 CAD)
0.0225 CAD /share
(min 15 CAD)
Europe / Middle East / Africa
Athens Exchange
AT 0.30%
(min 12 EUR)
0.1175% (+0.1325%)
(min 10 EUR)
BME Spanish Exchanges
SIBE 0.10%
(min 12 EUR)
from 9 EUR (3)
Budapest Stock Exchange
BUX 0.50%
(min 6,000 HUF)
0.30%
(min 5,000 HUF)
Deutsche Börse (XETRA)
FSE 0.10%
(min 12 EUR)
from 9 EUR (4)
Irish Stock Exchange
ISE 0.10%
(min 12 EUR)
0.06%
(min 9 EUR)
London Stock Exchange
LSE_SETS 0.10%
(min 8 GBP)
from 8 GBP (5)
London Stock Exchange (IOB)
LSE_INTL 0.10%
(min 20 USD)
0.05%
(min 10 USD)
Milan Stock Exchange
MIL 0.19%
(min 15 EUR)
from 9 EUR
(+0.07%) (4)
NASDAQ OMX Copenhagen
CSE 0.10%
(min 65 DKK)
0.05%
(min 50 DKK)
NASDAQ OMX Helsinki
HSE 0.10%
(min 10 EUR)
0.05%
(min 7 EUR)
NASDAQ OMX Stockholm
SSE 0.10%
(min 65 SEK)
0.05%
(min 55 SEK)
NYSE Euronext Amsterdam (AEX)
AMS 0.09%
(min 5 EUR)
from 12 EUR (3)
NYSE Euronext Brussels
BRU 0.10%
(min 12 EUR)
0.05%
(min 8 EUR)
NYSE Euronext Lisbon
LISB 0.10%
(min 12 EUR)
0.05%
(min 8 EUR)
NYSE Euronext Paris
PAR 0.10%
(min 12 EUR)
from 9 EUR (3)
Oslo Stock Exchange
OSE 0.10%
(min 65 NOK)
0.07%
(min 55 NOK)
Prague Stock Exchange
PRA 0.25%
(min 500 CZK)
0.22%
(min 400 CZK)
SIX Swiss Exchange
SWX & VX 0.10%
(min 18 CHF)
from 11 CHF (6)
Vienna Stock Exchange
VIE 0.10%
(min 12 EUR)
0.09%
(min 12 EUR)
Warsaw Stock Exchange
WSE 0.25%
(min 65 PLN)
0.22%
(min 60 PLN)
Asia / Pacific
Johannesburg Stock Exchange
JSE 0.25%
(min 100 ZAR)
0.15%
(min 80 ZAR)
Australian Securities Exchange
ASX 0.10%
(min 8 AUD)
0.05%
(min 6 AUD)
Hong Kong Exchanges
HKEX 0.25%
(min 90 HKD)
0.102% (+0.108%)
(min 80 HKD)
Singapore Exchange
SGX-ST 0.20%
(min 17 SGD)
0.14% (+0.04%)
(min 15 SGD)
Tokyo Stock Exchange
TYO 0.15%
(min 1,000 JPY)
0.08%
(min 600 JPY)

*) For active pricing see section in the bottom of this page

(1) NASDAQ, NYSE & NYSE ARCA: The flat fee apply up to a trade size of 1,000 shares, above the threshold the commission is 0.007 USD/share
(3) BME, NYSE Euronext Amsterdam**) and Paris: The flat fee apply up to a trade size of EUR 20,000, above the threshold the commission is 0.05%
(4) Deutsche Börse (XETRA) and Milan Stock Exchange: The flat fee apply up to a trade size of EUR 30,000, above the threshold the commission is 0.05%
(5) London Stock Exchange: The flat fee apply up to a trade size of GBP 30,000, above the threshold the commission is 0.05%.
(6) SIX Swiss Exchange: The flat fee apply up to a trade size of CHF 30,000, above the threshold the commission is 0.05%

Commodity CFD spreads

Commodity CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up. The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

Contract Details

Instrument Name Symbol Spread Minimum
Standard
Spread Minimum
Active (1)
Min. trade size Trading hours (2) Expiry date
METALS
Gold GOLD 0.60 0.50 1 18:01-17:00 FND -2
Silver SILVER 3.5 2.5 25 18:01-17:00 FND -2
Platinum PLATINUM 1.70 1.10 1 18:01-17:00 FND -2
Palladium PALLADIUM 1.75 1.05 1 18:02-17:00 FND -2
US Copper COPPERUS 0.55 0.45 500 18:01-17:00 FND -2
ENERGY
US Crude OILUS 0.05 0.03 25 18:01-17:00 LTD -2
UK Crude OILUK 0.05 0.03 25 01:01-22:55 (3) LTD -2
Heating Oil HEATINGOIL 0.35 0.25 500 18:01-17:00 LTD -2
Gasoline US GASOLINEUS 0.25 0.17 500 18:01-17:00 LTD -2
Gas Oil GASOILUK 1.25 0.75 1 01:01-21:55 LTD -2
US Natural Gas NATGASUS 0.017 0.011 200 18:01-17:00 LTD -2
CO2 Emissions EMISSIONS 0.07 0.05 25 07:01-17:00 LTD -2
AGRICULTURE
Corn CORN 1.25 0.75 200 19:01 – 13:20 FND -2
Wheat WHEAT 2.25 1.75 200 19:01 – 13:20 FND -2
Soybeans SOYBEANS 1.75 1.25 200 19:01 – 13:20 FND -2
SOFTS
NY Sugar No. 11 SUGARNY 0.05 0.03 5,000 04:30-13:00 LTD -2
NY Coffee COFFEENY 0.45 0.35 1,000 05:15-13:30 FND -2
NY Cocoa COCOANY 9.0 5.0 1 05:45-13:30 FND -2
MEATS
Live Cattle LIVECATTLE 0.175 0.125 2,000 08:31-13:05 LTD -2
FND= First Notice
LTD= Last trading

(1) For active pricing see section in the bottom of the page
(2) Trading hours are stated in the local hours of the underlying exchange
(3) Trading hours Fridays are 01:01 to 22:00

Forex CFD spreads

Forex CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.
The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

Contract details

Instrument Name Symbol Spread Mark up
Standard
Spread Mark up
Active (1)
Min. trade size Trading hours (2) Expiry Expiry Time
Euro / US Dollar EURUSDEC 0.0002 0.00018 5,000 17:00-16:00 FND -3 10:00 CST
Euro / Japanese Yen EURJPYRY 0.03 0.02 5,000 17:00-16:00 FND -3 10:00 CST
Euro / Swiss Franc EURCHFRF 0.0002 0.0002 5,000 17:00-16:00 FND -3 10:00 CST
Euro / British Pound EURGBPRP 0.00025 0.0002 5,000 17:00-16:00 FND -3 10:00 CST
British Pound / US Dollar GBPUSDBP 0.0003 0.00025 5,000 17:00-6:00 FND -3 10:00 CST
Australian Dollar / US Dollar AUDUSDAD 0.0003 0.0002 5,000 17:00-16:00 FND -3 10:00 CST
USD Index USDINDEX 0.010 0.008 100 20:00-17:00 LTD -2 11:00 EST
FND= First Notice; LTD = Last trading

(1) For active pricing see section in the bottom of this page
(2) Trading hours are stated in the local hours of the underlying exchange

Bond CFD spreads

Bond CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.
The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

Contract details

Instrument Name Symbol Spread
Minimum
Standard
Spread
Minimum
Active (1)
Min. trade size Trading hours (2)
German Government
10 year Bund
BUND 0.03 0.02 50 CFDs 08:01-21:55
German Government
5 year Bobl
BOBL 0.03 0.02 50 CFDs 08:01-21:55
German Government
2 year Schatz
SCHATZ 0.015 0.01 50 CFDs 08:01-21:55
Italian Government
10 year BTP
10YBTP 0.05 0.03 50 CFDs 08:01-18:55
French Government
10 year OAT
10YOAT 0.05 0.03 50 CFDs 08:01-18:55

Active pricing

If you are an Active Trader within equity and equity-related products, Saxo offers you some of the lowest rates in the market.
In order to qualify for Equity Active Trader rates you need to place at least 100 trades per calendar month, within any of the following instruments:

  • Stocks
  • ETFs/ETC
  • Single Stock CFDs

Please note the following:

  • The Active pricing may vary from the prices shown above depending on your country of residence.•If the required monthly activity is not fulfilled, standard rates will apply the following month.
  • You can familiarise yourself with the relevant terms of our Active Equity pricing in the FAQ section.

Updated 23 June 2016

CFDs Risk Warning

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


Danish banks are required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red.

Trade responsibly

Losses can exceed deposits on margin products. Please ensure you understand the risks.

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.


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