- يونيو 27, 2021
- Posted by: ForexTradeOn
- Category: saxo Broker review
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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
- 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:
- Classic: 0 points
- Platinum: 120,000 points
- 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 |
- 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.
- How many instruments can I have in my Watchlist?
- 250 trading instruments.
- 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.
- 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.
- 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.