Commissions, Charges and Margin Schedule

​Commissions, Charges and Margin Schedule

Product trading rates & conditions

See our Forex trading rates & conditions

See our Forex Options trading rates & conditions

See our CFD trading rates & conditions

See our Stock trading rates & conditions

See our Futures trading rates & conditions

See our Contract Options trading rates & conditions

See our ETF, ETC & Online Funds trading rates & conditions

See our Bonds trading rates & conditions

Minimum account sizes

CHF 10'000 for a Classic Account 
CHF 100'000 for a Premium Account
CHF 500'000 for a Platinum Account

Interest rates on trading accounts

Interest on your main account is calculated on the Net Free Equity (see below). 

Interest on your sub-accounts is calculated on the Account Value.

Since the Net Free Equity is calculated on open trade positions on all your accounts, it is important to ensure, that sufficient cash is available on your main account and sub-accounts. Otherwise, you risk being charged interest on one of your accounts according to below mentioned rules.

Net Free Equity

Your Net Free Equity is:​

  • The cash balance of your main trading account​​
  • ​Plus or minus any unrealised profits or losses from open CFDs, FX Forwards and Futures on your main trading account
  • Plus the market value of any FX Options on your main trading account
  • Minus any margin required for financing open positions on your main trading account and sub-accounts​

Net Free Equity margin financing

Cash collateral for Net Free Equity margin financing may differ from the trading margin requirement. See the full list of cash collateral for margin financing used for Net Free Equity calculation click here.

To avoid paying interest on your account you are required to hold sufficient cash collateral ensuring a positive Net Free Equity Balance.

Trading margin 

The trading margin requirement (leverage) described under each trading product is the minimum amount of collateral you must maintain on your account at all times. This collateral may be in the form of cash or stocks, ETFs and Bonds after applicable haircuts.

Account Value (sub-account)

Account Value of your sub-account is: ​

  • The cash balance of the sub-account
  • Plus or minus the value of any unrealised profits or losses from open CFDs, FX Forwards and Futures on the account
  • Plus the market value of any FX Options on the sub-account.

Account Interest (Retail)

In case of negative Net Free Equity, interest will be charged at overnight market rates plus 8%, however never less than 8%.​

Account Interest (Institutional)

The following interest rates apply to funds deposited with Saxo Bank:

  • For positive Net Free Equity on main trading accounts or account values on subaccounts, no interest is paid. ​
For currencies which are subject to negative interest reference rates by central banks, Saxo Bank introduces as of 1 August 2016 for institutional clients on all accounts a threshold and negative interests.

The thresholds and negative interest rates are currently as per below table and are applied on main trading accounts to the available net free equity and, in the case of subaccounts, to the account value:​

​ Threshold​Negative interest rate (p.a.)
EUR250,000-0.40%
CHF250,000-0.75%
DKK2,000,000-0.65%​​
SEK2,500,000​-0.50%

The negative reference interest rates applied by the central banks are continuously monitored by Saxo Bank. If the negative interest rate environment were to change, Saxo Bank will endeavour to make adjustments to its negative interest rate.​
  • For negative Net Free Equity, interest will be market ask rates plus a mark-up, however never less than the mark-up. Interest will be charged on the full amount for all Account Values.​​

Interest Calculation and Settlement

Interest will be calculated daily and settled monthly - within seven business days following the end of each calendar month.

Currency Conversion fee

Currency conversions of trading costs as well as profit and loss from trading activities are done using the mid-spread FX Spot rate when you close the position, plus/minus 0,5%. For FX Options the rate is plus/minus 0,1%. 

The Currency Conversion fee does not apply to margin collateral. Only settlement of actual payments to or from the trading account are included, for example, buying/selling cash Stocks, paying/receiving option premium or commission etc.

The rate used for currency conversion of amounts booked to your account is shown on the position details in the “open positions” or the day after under the “Trades Executed” report in the “account” section.

Account Maintenance Fees

There is no account maintenance fee on Saxo Bank (Switzerland) Ltd. trading accounts if the a​ccount shows at least one trading activity (e.g. buy / sell securities) within the 6 previous months.

Accounts which do not fulfill the above conditions will be charged a semi-annual account maintenance fee of CHF 100.00.​

Custody Fees from 01/01/2015

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).​

Fee Collection

In case the fee(s) are not covered by cash positions this might result in Saxo Bank (Switzerland) Ltd. selling the minimal necessary position in order to cover the fee. Attention is drawn to accounts having small balances and not conducting any trading business which may result in account closure. Please also see the bank’s “General Terms & Conditions”.​​

Updated 18 July, 2016