Bonds

Commissions

Online trading

​​MarketStandard​ Active*
​​European government bonds 0.25% (min. 80 EUR)*​*0.05% (min. 50 EUR)**
US government bonds​​*** 0.25% (min. 80 EUR)**0.05% (min. 50 EUR) **
European and US corporate bonds 0.25% (min. 80 EUR)**0.10% (min. 50 EUR)**
Emerging Markets bonds 0.25% (min. 80 EUR)** 0.10% (min. 50 EUR)**

 

* Please contact your account executive for more information

** or the equivalent if traded in another currency

*** For US government bonds there is an additional external execution fee of 0.0004% embedded in the price.

Offline trading

MarketStandard​Active*
US government bonds ***0.2​5% (min. 80 EUR)**0.05% (min. 50 EUR)**
European and US corporate ​​bonds 0.25% (min. 80 EUR)**0.10% (min. 50 EUR)**

 

​* Please contact your account executive for more information

** or the equivalent if traded in another currency

*** For US government bonds there is an additional external execution fee of 0.0004% embedded in the price

Collateral rates​

Using bonds as collateral for margin trading​

Saxo Bank allows collateral invested in Bonds to be used for margin trading activities (FX, CFDs, Futures and Contract Options trading). The percentage of the collateral that can be used for margin trading depends on the bond's rating:


​Definition​Margin Collateral
​Highest Rating​95%
​Very High Quality​90%
​High Quality​80%

Lower rated bonds are not accepted as collateral for margin trading. If you are unsure of a Bond's collateral value, please send an email to cts@saxobank.ch or contact your Account Manager.

​Bonds Trading Conditions

Online Trading​​

​Trading hours

The trading hours for online bonds trading are as follows (all times in CET)

Australia

02:​00 – 09​​:00

Asia

03:00 – 18:00

Central Eastern Europe

09:00 – 18:00

Middle East and Africa

09:00 – 18:00

European market

09:00 – 18:00

US market

12:00 – 23:00

Latin America

12:00 – 23​:00


Outside online trading hours bonds can be traded offline 24/5​

Minimum trading size

The minimum trading size for any bond trade can vary and depends on the individual terms of the bond.

For online traded bonds, unless the minimum trading size as defined by the terms of the bond is higher, Saxo Bank will apply a minimum of nominal USD 10,000 or the equivalent when trading bonds in other currencies.

Saxo Bank is not able to accept any orders below this minimum trading size.

Offline trading

​Trading hours

The trading hours for offline bonds trading is 24/5.

 

Minimum trading sizes

The minimum trading size for any bond trade can vary and depends on the individual terms of the bond.

For offline​ traded bonds, unless the minimum trading size as defined by the terms of the bond is higher, Saxo Bank will apply a minimum of nominal USD 50,000 or the equivalent when trading bonds in other currencies.

Saxo Bank is not able to accept any orders below this minimum trading size.

Transferring Bonds

Read more about transferring bonds to your Saxo Bank account here

Custody Fee

Custody Fees from 01/01/15

Saxo Bank (Switzerland) Ltd. charges custody fees on positions as follows:
  • Stocks & ETFs: 0.01% per month, minimum CHF 5.00 
  • Bonds: 0.01% per month, minimum CHF 5.00
Fees are calculated daily on the market value of securities and charged at the beginning of the following month. This fee is subject to 8% Swiss VAT (if applicable).

Coupon Payments

Coupon payments from bond positions will be credited to the client’s account, less any applicable withholding taxes.