CFD Margins

CFDs are traded on margin. This means that you are able to leverage your investment by opening positions of larger size than the funds you have to place as margin collateral. The margin is the amount reserved on your trading account to cover any potential losses from an open CFD position. It is possible that a loss may exceed the required margin. Margin requirements vary from instrument to instrument and can be changed at any time to reflect market conditions. For larger re-ratings or changing of margin requirements for very popular instruments clients will be notified in advance where possible. 

Intraday margin on selected Index Tracker CFDs is available to clients on request. The intraday margin requirement is reduced compared to the normal margin requirement and is applied during intraday trading hours. For more details on intraday margin and intraday trading hours, see the section below.  Margin requirements by CFD type and instrument are always listed under the CFD Trading Conditions on the trading platforms but can also be seen below.

Please note that Saxo Bank reserves the right to increase margin requirements for large position sizes, including client portfolios considered to be of very high risk.

Intraday margin which is available on selected CFD Index Trackers increases flexibility during the trading day. The Intraday margin is phased out in the minutes following expiry of the intraday trading hours applicable to the respective instrument. 

Example of Intraday Margin for Germany 30 (GER30.I)

The intraday trading hours can be found in the trading conditions section in the trading platforms. Please note that the intraday trading hours are subject to change and may be affected by early close of the underlying market due to holidays etc.

Intraday Margin is available upon request. Please contact your Account Manager or Service Center.

Index-tracking CFD margins (normal market conditions)

Index TrackerStandard MarginIntraday Margin(1)Intraday Session(2)

NORTH AMERICA

US 30 Wall Street2.5%1.25%09:00 - 15:53
US 5002.5%1.25%09:00 - 15:53
US Tech 100 NAS2.5%1.25%09:00 - 15:53


EUROPE, MIDDLE EAST & AFRICA

Belgium 205.0%n.a.
Denmark 205.0%n.a.
EU Stocks 503.0%1.5%09:00 - 17:28
France 403.0%1.5%09:00 - 17:28
Germany 303.0%1.5%09:00 - 17:28
Germany Mid-Cap 505.0%n.a.
Germany Tech 305.0%n.a.
Italy 405.0%n.a.
Netherlands 253.0%n.a.
Norway 255.0%n.a.
Portugal 2010.0%n.a.
South Africa 4010.0%n.a.
Spain 355.0%2.5%09:00 - 17:28
Sweden 305.0%n.a.
Switzerland 203.0%1.5%09:00 - 17:18
UK 1003.0%1.5%08:00 - 16:28
UK Mid 2505.0%n.a.


ASIA / PACIFIC

Australia 2003.0%n.a.
Japan 2253.0%n.a.
Hong Kong5.0%n.a.


 Index-tracking CFD contract details (expiring)

Index TrackerStandard MarginIntraday Margin(1)Intraday Session(2)
China 5010.0%n.a.
India 5010.0%n.a.
Singapore10.0%n.a.
Taiwan10.0%n.a.
US20005.0%n.a.

(1) Intraday Margin is available upon request. Please contact your Account Manager or Service Center.
(2) Trading hours are stated in the local hours of the underlying exchange. Please note that Intraday Margin will move to Standard Margin during a rolling window of 2 minutes after the close of the Intraday Session(s).

We have sorted our more than 8,800 online tradable CFDs in 5 different margin groups. Which margin group a CFD falls into depends on the market capitalisation, liquidity and volatility of the underlying asset. The leverage available on Single Stock CFDs begin at 10:1 which corresponds to only 10% margin.

RatingMargin requirement
110%
220%
340%
480%
5100%

Find your local stock in the link below and see what Margin Rating it has. 

View individual Single Stock CFD margins

Instrument NameSymbolMargin RequirementLeverage

METALS
GoldGOLD4%25:1
SilverSILVER8%12.5:1
PlatinumPLATINUM8%12.5:1
PalladiumPALLADIUM8%12.5:1
US CopperCOPPERUS4%25:1


ENERGY
US CrudeOILUS5%20:1
UK CrudeOILUK5%20:1
Heating OilHEATINGOIL4%25:1
Gasoline USGASOLINEUS8%12.5:1
Gas OilGASOILUK8%12.5:1
US Natural GasNATGAS8%12.5:1
CO2 EmissionsEMISSIONS8%12.5:1


AGRICULTURE
CornCORN5%20:1
WheatWHEAT5%20:1
SoybeansSOYBEANS5%20:1


SOFTS
NY Sugar No. 11SUGARNY5%20:1
NY CoffeeCOFFEE5%20:1
NY CocoaCOCOA5%20:1


MEATS
Live CattleLIVECATTLE5%20:1
LeverageMargin RequirementProduct/Instrument
100:11%German Government 5 year Bobl
German Government 2 year Schatz
100:11%German Government 10 year Bund
100:11%French Government 10 year OAT
50:12%Italian Government 10 year BTP

The leverage available for Forex CFDs is either 50:1 or 25:1 equal to 2% or 4% in margin.

Instrument NameSymbolMargin RequirementLeverage
CURRENCIES
Euro / US DollarEURUSDEC2%50:1
Euro / Japanese YenEURJPYRY4%25:1
Euro / Swiss FrancEURCHFRF4%25:1
Euro / British PoundEURGBPRP2%50:1
British Pound / US DollarGBPUSDBP2%50:1
Australian Dollar / US DollarAUDUSDAD4%25:1
USD IndexUSDINDEX2%50:1

See under 'Single Stock CFDs'.

Margin Trading carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary. 

See our Risk Warning.

Updated 08 August, 2016

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CFD относится к красной категории продуктов, так как считается сложным инвестиционным продуктом, торговля которым сопряжена с высокой степенью риска.

Законодательство обязывает датские банки классифицировать инвестиционные продукты, предлагаемые розничным клиентам, в зависимости от сложности и сопряженных с ними рисков на зеленые, желтые и красные. Более подробная информация приведена на этой странице