Saxo Bank Fees and Commissions Revealed

 

Pros

Cons

  • Deposit fees
  • High inactivity fees

Introduction

With the Saxo Bank broker you can invest online in a multitude of different financial instruments such as forex, CFDs, and commodities.

This company, which has more than 30 years of experience in the sector, stands out for offering a professional and transparent service . The Saxo Bank group has a presence in a lot of countries and has various regulations, for example it is regulated by the FCA, the Financial Conduct Authority.

But, what is the cost of their services? Like other online brokers, Saxo Bank applies a series of fees, which represent their fees. If you want to know what are the most significant commissions for trading in Forex, and CFDs with this online broker, whether you are a client belong to the Latin American area, we invite you to read this article:

Saxo Bank fees may vary from account type to another. Please read the following sections for more information.

Commissions

Saxo Bank commissions vary according to the account type and the type of instrument traded. So, let’s dig deeper into each product category.

  • Shares

For trading US shares, there’s a commission of (minimum) $1.

American Stocks Commissions

Instrument

Classic

Platinum

VIP

NASDAQ

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

New York Stock Exchange

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

NYSE MKT (American Stock Exchange)

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

Toronto Stock Exchange

0.03 CADmin. 20 CAD

0.02 CADmin. 15 CAD

0.015 CADmin. 10 CAD

TSX Venture Exchange

0.03 CADmin. 20 CAD

0.02 CADmin. 15 CAD

0.015 CADmin. 10 CAD

  • Futures

For trading AUD futures, the commission differs from an account to another as the following:

  • Classic Account: 10 AUD per contract
  • Platinum Account: 5 AUD per contract
  • VIP Account: 1 AUD per contract

Futures Commissions

Instrument

Classic

Platinum

VIP

AUD

10 AUD / contractMin. 12.5 AUD

5 AUD / contractMin. 12.5 AUD

1 AUD / contractMin. 12.5 AUD

EUR

6 EUR / contractMin. 10 EUR

3 EUR / contractMin. 10 EUR

1 EUR / contractMin. 10 EUR

GBP

5 GBP / contractMin. 8 GBP

2.5 GBP / contractMin. 8 GBP

1 GBP / contractMin. 8 GBP

SGD

15 SGD / contractMin. 20 SGD

7.5 SGD / contractMin. 20 SGD

2 SGD / contractMin. 20 SGD

USD

6 USD / contractMin. 10 USD

3 USD / contractMin. 10 USD

1.25 USD / contractMin. 10 USD

CHF

8 CHF / contractMin. 11 CHF

4 CHF / contractMin. 11 CHF

1.5 CHF / contractMin. 11 CHF

JPY

1000 JPY / contractMin. 1200 JPY

800 JPY / contractMin. 1200 JPY

700 JPY / contractMin. 1200 JPY

SEK

75 SEK / contractMin. 100 SEK

40 SEK / contractMin. 100 SEK

15 SEK / contractMin. 100 SEK

CAD

6 CAD / contractMin. 10 CAD

3 CAD / contractMin. 10 CAD

1 CAD / contractMin. 10 CAD

HKD

30 HKD / contractMin. 0 HKD

25 HKD / contractMin. 30 HKD

15 HKD / contractMin. 30 HKD

NZD

15 NZD / contractMin. 0 NZD

7.5 NZD / contractMin. 15 NZD

3 NZD / contractMin. 15 NZD

 

  • Metals

For trading XAU USD, the commission differs from an account to another as the following:

  • Classic Account: 14.0
  • Platinum Account: 12.0
  • VIP Account: 11.0

Spot Metals Commissions

Instrument

Classic

Platinum

VIP

XAU USD

14

12

11

XAU EUR

15

13

12

XAG USD

27

26

24

XAU XAG

21

21

21

 

  • Bonds

For Govt. bonds, there’s a 0.05% commission per lot.

Bonds Commissions

Instrument

Classic

Platinum

VIP

Bonds Europe Government

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds US Government

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds Europe Corporate – High Yield

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds US Corporate – High Yield

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds CEEMEA Hard Currency

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds Dual Europe Corporate – High Yield

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds APAC Dual Currency

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

Bonds APAC Local Currency

0.2%min. 80 EUR

0.1%min. 60 EUR

0.05%min. 50 EUR

  • Mutual Funds

NO MUTUAL FUNDS COMMISSIONS

  • ETFs

For trading US Stocks (ETFs) there’s a $1 commission per lot.

ETFs Commissions

Instrument

Classic

Platinum

VIP

NASDAQ

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

New York Stock Exchange

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

NYSE MKT (American Stock Exchange)

0.02 USDmin. 7 USD

0.015 USDmin. 5 USD

0.01 USDmin. 1 USD

Toronto Stock Exchange

0.03 CADmin. 20 CAD

0.02 CADmin. 15 CAD

0.015 CADmin. 10 CAD

TSX Venture Exchange

0.03 CADmin. 20 CAD

0.02 CADmin. 15 CAD

0.015 CADmin. 10 CAD

Trading Fees

Forex

The minimum spread for trading EUR/ USD is:

  • Classic: 1 pips per lot.
  • Platinum: 0.9 pips per lot.
  • VIP: 0.8 pips per lot.

Forex Spreads

Instrument

Classic

Platinum

VIP

EURUSD

Euro/US Dollar

1 PIPS

0.9 PIPS

0.8 PIPS

GBPUSD

British Pound/US Dollar

1.1 PIPS

1 PIPS

0.8 PIPS

EURJPY

Euro/Japanese Yen

1.1 PIPS

1 PIPS

0.9 PIPS

USDJPY

US Dollar/Japanese Yen

0.9 PIPS

0.8 PIPS

0.7 PIPS

AUDUSD

Australian Dollar/US Dollar

0.8 PIPS

0.7 PIPS

0.6 PIPS

XAUUSD

Gold/US Dollar

14 USD Cents

12 USD Cents

10 USD Cents

Indices

The minimum spread for trading US 500 is:

  • Classic: 0.7 pips per lot.
  • Platinum: 0.5 pips per lot.
  • VIP: 0.4 pips per lot.

Indices Spreads

Instrument

Classic

Platinum

VIP

US Tech 100 NAS

USNAS100.I

1 USD

0.7 USD

0.5 USD

US 30 Wall Street

US30.I

3 USD

2 USD

2 USD

US 500

US500.I

0.7 USD

0.5 USD

0.4 USD

Options

The minimum spread for trading EUR USD (option) is:

  • Classic: 5 pips per lot.
  • Platinum: 4 pips per lot.
  • VIP: 3 pips per lot.

Options Spreads

Instrument

Classic

Platinum

VIP

EUR USD

5

4

3

USD JPY

6

5

4

GBP USD

8

7

5

AUD USD

5

4

3

EUR JPY

9

8

6

EUR CHF

8

7

6

XAU USD

180

160

140

XAG USD

9.5

8.8

6.5

Cryptocurrencies

The minimum spread for trading BTC/ USD is:

  • Classic: 160 pips per lot.
  • Platinum: 150 pips per lot.
  • VIP: 140 pips per lot.

Cryptocurrency Spreads

Instrument

Classic

Platinum

VIP

BTCUSD

160

150

140

ETHUSD

9

8.6

8.2

LTCUSD

1.05

1

0.95

BTCEUR

140

130

120

ETHEUR

7.6

7.2

6.8

LTCEUR

1

0.95

0.9

BTCJPY

18000

17000

16000

ETHJPY

1050

1000

950

LTCJPY

120

115

110

Disclaimer: CFDs have a high risk of losing money rapidly. 79% of retail investor accounts lose money due to leverage when trading CFDs with this provider. CFDs are not complying with the islamic religion. And if you want to trade in CFDs you should consider a swap-free account to follow islamic rules. Learn more about CFDs for muslims.

Non-Trading Fees

  • Account fee: $0
  • Deposit fees: $0 (for bank transfers)
  • Withdrawal fees: $0
  • Inactivity fee: Saxo Bank A/S accounts with no trading activity during a period of 6 consecutive months (180 days) have an inactivity fee up to USD 150 or equivalent in the account currency will be charged.

FAQs

  1. Does Saxo Bank give a bonus?
  • Yes, Saxo Bank does offer a loyalty program in which you earn points each time you make a trade on Saxo Bank platform. Also, these points help you upgrade your account level as well as have better pricing. The points required to join each program are:
  1. Classic: 0 points
  2. Platinum: 120,000 points
  3. VIP: 500,000 points

As said above, the points you earn depend on the trade volume you have. The following table will help you know more information about how much you should trade in order to get points.

Saxo Bank – Reward Points

Product

Volume

Points

FX spot trade

EUR 10,000

30

FX option trade

EUR 10,000

40

CFD index trade

EUR 10,000

20

CFD equity trade

EUR 10,000

180

CFD all trade

EUR 10,000

30

CFD exp. trade

EUR 10,000

20

Stock trade

EUR 10,000

160

Stock option trade

1

50

Non-stock option trade

1

110

Contract future trade

1

110

Contract options trade

1

110

Bonds investment

EUR 10,000

320

  1. When trading forex, will you lose more than your initial deposit?
  • The Saxo Bank trading platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level).
  • Please note that this process is automated and is not a guarantee that your account will not enter into a negative equity situation and you should keep a balance amount in your account above your required margin.

 

  1. How many instruments can I have in my Watchlist?
  • 250 trading instruments.
  1. What is the minimum trade size for Crypto FX on Saxo Bank?
  • The minimum trade size for Crypto FX pairs varies depending on which pair you trade:
  • Trading in Bitcoin pairs starts from a minimum of 0.01 BTC.
  • Trading in Ethereum pairs starts from a minimum of 0.1 ETH.
  • Trading in Litecoin pairs starts from a minimum of 1 LTC.
  1. Do I need a crypto wallet to trade cryptocurrencies with Saxo?
  • A crypto wallet is not required because you do not own the underlying coins when trading ETPs or Crypto FX pairs.
  1. Does Saxo charge fees for their trading platforms?
  • Saxo does not charge any fees for using the trading platforms. There are no fees to use SaxoTraderGO, SaxoTraderPRO or the SaxoTrader mobile App.

 



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