CFD pricing

Find details of our industry-leading CFD prices and low trading costs.

Execution prices

We have three pricing tiers. Pay less as you trade more.
Learn more about our account tiers

Instrument NameClassicPlatinumVIP
German Government 10 year Bund, continuous
BUNDcont
0.03 EUR
0.025 EUR
0.02 EUR
German Government 5 year Bobl continuous
BOBLcont
0.03 EUR
0.025 EUR
0.02 EUR
German Government 2 year Schatz continuous
SCHATZcont
0.015 EUR
0.01 EUR
0.01 EUR
Italian Government 10 year BTP continuous
10YBTPcont
0.05 EUR
0.04 EUR
0.03 EUR
French Government 10 year OAT continuous
10YOATcont
0.05 EUR
0.04 EUR
0.03 EUR
Instrument Name
Classic
0.03 EUR
Platinum
0.025 EUR
VIP
0.02 EUR
More details
Classic
0.03 EUR
Platinum
0.025 EUR
VIP
0.02 EUR
More details
Classic
0.015 EUR
Platinum
0.01 EUR
VIP
0.01 EUR
More details
Classic
0.05 EUR
Platinum
0.04 EUR
VIP
0.03 EUR
More details
Classic
0.05 EUR
Platinum
0.04 EUR
VIP
0.03 EUR
More details

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Trading hours are stated in the local hours of the underlying exchange.

All prices shown on this page are offered to new Saxo clients. Existing clients can access pricing information directly in the trading platform.

Actual price varies based on the country of client residence.

Other costs

From 1 December 2021, the Saxo Bank Group is changing the inputs used to set the interest rates that apply to deposited funds (account interest) and margin financing rates.

How does this affect you?

Whether you trade stocks, exchange traded funds (ETFs), bonds or margin trading products, we don’t expect these changes to cause any significant impact to your overall costs.

The current conditions that apply to positive cash balances and negative interest rates for the Danish kroner, euro and Swiss franc will remain unchanged.

You can find the full terms and conditions for account interest in the Account Interest section below. Margin financing rates apply to Carrying Cost, CFD financing and margin lending.

Why are we changing our interest rates?

Financial benchmark administrators are subject to increasing regulatory requirements. This impacts the Saxo Bank Group because we use financial benchmarks as a reference when setting interest rates.

Our changes follow the market’s general adoption of Alternative Reference Rates (ARRs) as a fallback rate and replacement for Interbank Offered Rates (IBORs). ICE Benchmark Administration will stop publishing most London Interbank Offered Rate (LIBOR) settings from 31 December 2021.

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 have been recognised by National Competent Authorities (NCAs), market participants, and national and international financial industry associations.

What are the changes?

Alternative Reference Rates (ARRs) will be used as an input in setting Saxo Bid/Offer interest rates. Saxo Bid/Offer interest rates are used, in conjunction with commercial product markups and markdowns, to generate account interest or margin financing rates. For currencies without a designated ARR, money market rates, monetary policy rates or other relevant financial benchmarks will apply as an input.

The Saxo Bid/Offer interest rates are proprietary to the Saxo Bank Group and subject to the provisions in the General Business Terms.

For Offshore Chinese Yuan (CNH), the Saxo Bid/Offer interest rates applied for account interest will be floating going forward.

Financial benchmarks from 1 December 2021

The financial benchmarks used to set Saxo Bid/Offer interest rates for account interest and margin financing rates from 1 December 2021 are listed in the below table.

Account interest rates are subject to a zero floor whenever negative, with the exception of positive cash balances in Swiss franc, Danish kroner and euros, which are subject to the conditions explained in the Account Interest section. All margin financing rates are subject to a zero floor whenever negative.

Saxo Bank Group reserves the right to apply a business lag to the publication of financial benchmarks when calculating and booking unrealised and realised interest.

 

CurrencyDay count conventionAccount interest rates *)Margin financing rates *)
AED ACT/360Central Bank of United Arab Emirates (CBUAE) repo rate
AUDACT/365Australian Overnight Index Average (AONIA)
CAD ACT/365Canadian Overnight Repo Rate Average (CORRA)
CHFACT/360Swiss National Bank (SNB) policy rateSwiss Average Rate Overnight (SARON)
CNH ACT/360Chinese Offshore Yuan Hong Kong Interbank Offered Rate (CNH HIBOR)
CZKACT/360Czech Overnight Index Average (CZEONIA)
DKK ACT/360Danmarks Nationalbank current-account rate
EURACT/360European Central Bank (ECB) deposit facility rateEuro Short-Term Rate (ESTR)
GBP ACT/365Sterling Overnight Index Average (SONIA)
HKDACT/365Hong Kong Overnight Index Average (HONIA)
HUF ACT/360Hungarian Overnight Index Average (HUFONIA)
ILSACT/360Bank of Israel (BoI) rate
JPY ACT/360Tokyo Overnight Average Rate (TONAR)
MXNACT/360The Equilibrium Interest Rate (TIIE) Overnight
NOK ACT/360Norwegian Overnight Weighted Average (NOWA)
NZDACT/365Reserve Bank of New Zealand (RBNZ) Official Cash Rate (OCR)
PLN ACT/360Poland Overnight Index Average (POLONIA)
RONACT/360National Bank of Romania deposit rate
RUB ACT/360Ruble Overnight Index Average (RUONIA)
SARACT/360Central Bank of Saudi Arabia (SAMA) reverse repo rate
SEK ACT/360Swedish Short-Term Rate (SWESTR) **)
SGDACT/365Singapore Overnight Rate Average (SORA)
THB ACT/365Thai Overnight Rate (THOR)
TRYACT/360Turkish Lira Reference Rate (TLREF)
USD ACT/360Secured Overnight Financing Rate (SOFR)
ZARACT/365South Africa Benchmark Overnight Rate (SABOR)

* Applicable financial benchmarks as an input in setting Saxo Bid/Offer interest rates for account interest and margin financing rates respectively.

** Subject to final release by Sveriges Riksbank by 2 September 2021. In the case that the testing period for the financial benchmark Swedish Short-Term Rate (SWESTR) is not completed by 1 December 2021, the Sveriges Riksbank repo rate will apply as an input instead.

As Index CFDs at Saxo Bank are margined products, you finance the traded value through an overnight credit/debit charge. If you open and close a CFD position within the same trading day, you are not subject to overnight financing. When you hold an Index CFD position overnight, your CFD position will consequently be subject to the following credit or debit:

  • Holding Long CFD Stock Index Tracker positions after 17:00 EST (New York time) incurs a financing charge which is calculated as follows:
    • Index Value * Number of CFDs * (relevant Inter-Bank Offered Rate + 2.50%) * (Actual Number of Days/360 or Actual Number of Days/365)
  • Holding Short positions after 17:00 EST (New York time) creates a financing credit which is calculated as follows:
    • Index Value * Number of CFDs * (relevant Inter-Bank Bid Rate – 3.00%) * (Actual Number of Days/360 or Actual Number of Days/365)

Please note the following:
A) A floor will apply to the relevant Inter-Bank Bid/Offer Rate, i.e. if the Inter-Bank Rate is negative, then it will be excluded from the financing calculation.
B) If the calculated financing rate on a short position (Inter-Bank Bid Rate – mark-down) is negative, then the financing credit will become a financing charge.

As Single Stock CFDs at Saxo Bank are a margined product, you finance the traded value through an overnight credit/debit charge. If you open and close a CFD position within the same trading day, you are not subject to overnight financing. When you hold a Single Stock CFD position (or an ETF/ETC CFD position) overnight, i.e. have an open CFD position at close of market on the Stock Exchange, your CFD position will consequently be subject to the following credit or debit

  • When you hold a long CFD position, you are subject to a debit calculated on the basis of the relevant Inter-Bank Offer Rate for the currency in which the underlying share is traded (e.g. - LIBOR) plus a mark-up (times Actual Days/360 or Actual Days/365).

  • When you hold a short CFD position, you receive a credit calculated on the basis of the relevant Inter-Bank Bid Rate for the currency in which the underlying share is traded (e.g. LIBID) minus a mark-down (times Actual Days/360 or Actual Days/365).

The credit/debit is calculated on the total nominal value of the underlying Stocks at the time the CFD contract is established (whether long or short).

Please note the following:

  • A floor will apply to the relevant Inter-Bank Bid/Offer Rate, i.e. if the Inter-Bank Rate is negative it will be excluded from the financing calculation.

  • If the calculated financing rate on a short position (Inter-Bank Bid Rate – mark-down) is negative, the financing credit will become a financing charge.
MarketSymbolLong positions (mark-up)Short positions (mark-down)

North America & Canada

NASDAQNASDAQ & NSC+3.50%-3.00%
New York Stock ExchangeNYSE & ARCA+3.50%-3.00%
NYSE MKTAMEX+3.50%-3.00%
Toronto Stock ExchangeTSE+3.50%-3.00%

Europe / Middle East / Africa

Athens ExchangeAT+4.50%-4.00%
BME Spanish ExchangesSIBE+3.50%-3.00%
Budapest Stock ExchangeBUX+3.50%-3.00%
Deutsche Börse (XETRA)FSE+3.50%-3.00%
Irish Stock ExchangeISE+3.50%-3.00%
Johannesburg Stock ExchangeJSE+5.00%-3.50%
London Stock ExchangeLSE_SETS+3.50%-3.00%
London Stock Exchange (IOB)LSE_INTL+3.50%-3.00%
Milan Stock ExchangeMIL+3.50%-3.00%
NASDAQ OMX CopenhagenCSE+3.50%-3.00%
NASDAQ OMX HelsinkiHSE+3.50%-3.00%
NASDAQ OMX StockholmSSE+3.50%-3.00%
NYSE Euronext Amsterdam (AEX)AMS+3.50%-3.00%
NYSE Euronext BrusselsBRU+3.50%-3.00%
NYSE Euronext LisbonLISB+3.50%-3.00%
NYSE Euronext ParisPAR+3.50%-3.00%
Oslo Stock ExchangeOSE+3.50%-3.00%
Prague Stock ExchangePRA+3.00%-5.00%
SIX Swiss ExchangeSWX & VX+3.50%-3.00%
Vienna Stock ExchangeVIE+3.50%-3.00%
Warsaw Stock ExchangeWSE+3.50%-3.00%

Asia / Pacific

Australian Securities ExchangeASX+3.50%-3.00%
Hong Kong ExchangesHKEX+3.50%-3.00%
Singapore ExchangeSGX-ST+3.50%-3.00%
Tokyo Stock ExchangeTYO+3.50%-3.00%

'Trading Conditions' > 'CFD Stock/Index Instrument List' on the platform.

When selling a CFD, the borrowing cost for holding the position overnight is shown in the CFD Trade module in the 'Estimated borrowing cost per day' field. The borrowing rate will be fixed when the position is opened and will be charged on a monthly basis. Please be aware, that for certain corporate action events, the borrowing rate on the short position may be reset to the current rate in the market, upon the execution of the corporate action.

If you open and close a CFD position within the same trading day, you are not subject to borrowing costs.

Overnight positions in Expiring CFDs are subject to a carrying cost. The carrying cost is calculated on the basis of the daily margin requirement and applied when a position is held overnight. The funding rate used for calculating the carrying cost is based on the relevant Interbank-rate + markup at: 3.5% (classic accounts), 1.5% (platinum accounts), or 0.5% (VIP accounts).

Carrying Cost = Margin requirement * Holding time * (Relevant Interbank rate + Markup) / (365 or 360 days)

The Bid/Ask spread will be equal to the minimum target spread in approx. 99% of the quote updates, during the opening hours of the underlying cash market.

This gives clients an improved trading experience and a high degree of certainty with regards to trading costs associated with entering and closing CFD Index Tracker positions.

Please note that Fixed spreads are available for selected CFD indices only apply under normal market conditions up to the trade amounts listed in the table below.

Index Tracker NameSymbolTrade amount (contracts)*
US Wall Street 30US30.I15
US 500US500.I100
US Tech 100 NASUSNAS100.I25
EU StocksEU50.I100
France 40FRA40.I10
Germany 30GER30.I10
Italy 40ITALY40.I10
Netherlands 25NETH25.I10
Spain 35SPAIN35.I20
Sweden 30SWE30.I100
Switzerland 20SWISS20.I10
UK 100UK100.I20
Australia 200AUS200.I10
Japan 225JPY225.I1,000
Hong KongHK50.I25

* Fixed spreads only apply under normal market conditions and up to the indicated trade amount.

Find more information about our general charges here.

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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. For further information click here

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