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Overall Rating
4.7/5
Rated #60 of
Recommended FX Brokers
Minimum Deposit USD 10 000
Regulators MiFID
No Trading Desk
Yes
📈 Total Pairs
170
Islamic Account No
Trading Fees Low
24 Hours
Saxo Bank commissions are charged, depending on the financial instrument traded, with spreads from 0.6 pips. Saxo Bank does not charge deposit fees or withdrawal fees. Saxo Bank also charges an inactive fee of $100.
Finding a reputable list about Saxo Bank Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Fees and Spreads
Saxo Bank’s spreads start from 0.6 pips EUR/USD.
Both the spread list and the commissions that Saxo Bank charges are transparent and detailed for each account as well as a trading instrument. Spreads that traders can expect are as follows:
- Classic Account – from 0.8 pips EUR/USD.
- Platinum Account – from 0.7 pips EUR/USD.
- VIP Account – from 0.6 pips EUR/USD.
The following commissions are charged, depending on the financial instrument traded:
- Stocks – commissions from $3 on US Stocks.
- Commodities – $1.25 per lot.
- ETFs – $3 on US listed ETFs.
- Futures – $1.25 per lot.
- Bonds – 0.05% on government bonds.
- Listed options – $1.25 per lot.
Additional Trading Fees
When trading financial instruments such as forex, traders can often expect that overnight fees or swap fees will be charged when positions are held for longer than a trading day.
Saxo Bank does not offer the option for an Islamic Account. In addition, traders must familiarize themselves with the various margin requirements before they enter into a position.
Saxo Bank does not offer spread betting and thus spread betting fees do not apply.
Overall Rating
4.7/5
Rated #60 of
Recommended FX Brokers
Minimum Deposit USD 10 000
Regulators MiFID
No Trading Desk
Yes
📈 Total Pairs
170
Islamic Account No
Trading Fees Low
24 Hours
Broker Fees
Saxo Bank does not charge deposit fees or withdrawal fees. There are, however, numerous other fees that traders must take note of such as:
- Account interest fees on positive and negative Net Free Equity.
- Currency conversion fees – charged when trading an instrument in a currency that differs from the base denomination. These are executed using forex spot mid-price and will depend on the time the position is closed plus or minus 1%.
- Accounts that have stocks, ETFs/ETCs, or bond positions are subjected to a custody fee of 0.25% per annum with a monthly fee of 5 EUR.
- Inactivity fee – should the trading account be dormant for a consecutive 6-month period, there will be a $100, or currency equivalent, charged.
- Manual order fees of 50 EUR are charged for traders who make use of telephonic trading or when placing orders via email or chat.
- Clients on a Classic service level are charged $50, or currency equivalent, for requesting online reports which must be delivered via email.
Pros and Cons
| ✔️ PROS | ❌ CONS |
| Competitive spreads and commissions | Various broker fees charged |
| Deposit fees and withdrawal fees are not charged |
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FAQ’s
How many instruments can I trade with Saxo Bank?
You can trade the following financial instruments:
- Forex
- CFDs
- Futures
- Commodities
- Forex options
- Stocks
- Bonds
- ETFs
- Mutual Funds
Which platforms are supported by Saxo Bank?
Does Saxo Bank offer leverage?
Yes. Traders have access to leverage up to 1:66.
What spreads can I expect with Saxo Bank?
You can expect spreads that start from 0.6 pips EUR/USD on the VIP Account.
Does Saxo Bank charge commission?
Yes. Depending on the trading account the trader uses, and the financial instrument traded, traders will be subjected to the following commissions:
- Stocks – commissions from $3 on US Stocks.
- Commodities – $1.25 per lot.
- ETFs – $3 on US listed ETFs.
- Futures – $1.25 per lot.
- Bonds – 0.05% on government bonds.
- Listed options – $1.25 per lot.
Is Saxo Bank regulated?
Yes. Saxo Bank is regulated by FSA, FCA, MAS, FINMA, FSA, SFC, and ASIC.
Is Saxo Bank a recommended forex trading broker for experts and beginners?
No. Saxo Bank only caters to traders who are advanced or professional traders.
What is the overall rating out of 10 for Saxo Bank?
8/10.
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