Overview of Saxo Bank fees and charges as of March 2024
Saxo Bank is a Danish investment bank that offers a range of financial services, including trading. The fees of Saxo Bank are generally considered to be average, with a BrokerChooser fee score of 3. Trading fees are average for stocks, ETFs, and low for mutual funds, but a bit higher for options, futures, and CFDs. Non-trading fees are also average, but Saxo Bank offers very competitive forex fees. The fees for deposit and withdrawal are also zero. All in all, Saxo Bank provides a good balance between fees and services, making it a good choice for traders who are looking for a reliable and affordable broker.
Here's a high level overview of Saxo Bank's fees
Assets | Fee level | Fee terms |
---|---|---|
US stock fee | Low | 0.08% of trade value with $1 min, but using VIP pricing the commission can be as low as 0.03% of trade value with $1 min |
EURUSD fee | Low | Classic account: the fees are built into the spread, 0.8 pips is the average spread cost during peak trading hours. Using VIP pricing the spread can be as low as 0.4 pips. |
US tech fund fee | Low | Mutual funds are available only in certain countries. The broker doesn't charge any fee for mutual fund trading. |
Inactivity fee | Low | No inactivity fee |
Confused about fees? Use this tool to see what the commission fee of a specific stock trade would be at Saxo Bank. To check and compare fees at other brokers, go to our main Fee calculator page.
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Saxo Bank fees explained
We compare Saxo Bank fees with its closest competitors, Swissquote and Interactive Brokers.
Saxo Bank trading fees
Saxo Bank's trading fees are mid-tier which means you need to pay special attention to asset classes with high trading fees.
Let's break down the trading fees into the different asset classes available at Saxo Bank.
Trading fees
Saxo Bank's trading fees are average.
Stock fees and ETF fees
Saxo Bank has low stock trading fees.
US stock
|
$1.6
|
$20.0
|
$1.0
|
---|---|---|---|
UK stock
|
$3.8
|
$31.3
|
$3.8
|
German stock
|
$3.2
|
$27.0
|
$3.2
|
Data updated on March 14, 2024
Forex fees
Saxo Bank's forex fees are low.
EURUSD benchmark fee
|
$10.7 | $25.6 | $13.3 |
---|---|---|---|
EURGBP benchmark fee
|
$10.5 | $26.3 | $13.3 |
Data updated on March 14, 2024
Fund fees
Saxo Bank fund fees are low.
Mutual fund
|
$0.0
|
$9.0
|
$15.0
|
---|---|---|---|
EU mutual fund
|
-
|
$9.0
|
$4.4
|
Data updated on March 14, 2024
Bond fees
Saxo Bank has low bond fees.
US Treasury bond
|
$21.6
|
$75.0
|
$5.0
|
---|---|---|---|
EU/UK government bond
|
$21.6
|
$54.0
|
$10.0
|
Data updated on March 14, 2024
Options fees
Saxo Bank's options fees are high.
US stock index options
|
$20.0
|
$19.9
|
$6.5
|
---|---|---|---|
UK stock index options
|
$37.5
|
-
|
$21.3
|
German stock index options
|
$21.6
|
$10.8
|
$18.4
|
Data updated on March 14, 2024
Futures fees
Saxo Bank's futures fees are high.
US micro e-mini stock index futures
|
$30.0
|
$19.9
|
$2.5
|
---|---|---|---|
UK stock index futures
|
$37.5
|
-
|
$21.3
|
German e-mini stock index futures
|
$43.2
|
$10.8
|
$8.6
|
Data updated on March 14, 2024
CFD fees
Saxo Bank has average CFD trading fees.
Apple CFD
|
$4.1
|
-
|
$1.1
|
---|---|---|---|
Vodafone CFD
|
$10.6
|
-
|
$4.3
|
Germany
|
$11.4
|
-
|
$3.4
|
Data updated on March 14, 2024
Financing rates
Saxo Bank financing rates are low.
If you want to trade on margin and prefer to hold your positions long, financing costs can be significant.
Apple CFD financing rate
|
8.9%
|
-
|
6.8%
|
---|---|---|---|
Vodafone CFD financing rate
|
8.7%
|
-
|
6.7%
|
EURUSD financing rate
|
2.4%
|
5.9%
|
2.3%
|
EURGBP financing rate
|
2.1%
|
5.7%
|
2.2%
|
Data updated on March 14, 2024
Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange/CFDs with any level of leverage may not be suitable for all investors.
Currency conversion fee
Saxo Bank will charge a Currency Conversion Fee for all trades on instruments denominated in a currency different to the currency of your account. The fee is charged as the following: FX spot rate +/- 0.25%.
Saxo Bank non-trading fees
When it comes to looking at all the non-trading fees Saxo Bank is an average broker. This means that some of the non-trading fees are high, but the others are low or not charged at all.
Non-trading fees include various brokerage fees and charges at Saxo Bank that you pay not related to buying and selling assets. Among some others, typical non trading fees are withdrawal fee, deposit fee, inactivity fee and account fee.
Withdrawal fee
|
$0
|
$10
|
$0
|
---|---|---|---|
Deposit fee
|
$0
|
$0
|
$0
|
Inactivity fee
|
No
|
No
|
No
|
Account fee
|
No
|
No
|
No
|
Data updated on March 14, 2024
Saxo Bank deposit fee
Deposit fees are applied when you send money to your trading account from your bank account. Usually brokers don't charge money for that and Saxo Bank is not different: you will see the exact same amount on your brokerage account that you sent by any of the deposit methods Saxo Bank offers.
Bank transfer
|
Yes | Yes | Yes |
---|---|---|---|
Credit/debit card
|
Yes
|
Yes |
No
|
Electronic wallets
|
No | No | No |
Deposit fee
|
$0
|
$0
|
$0
|
Data updated on March 14, 2024
Saxo Bank withdrawal fee
Unlike some online brokers we have reviewed Saxo Bank does not charge a withdrawal fee. This means that you'll see the same amount of money on your bank account that you transferred from your brokerage account.
Bank transfer
|
Yes | Yes | Yes |
---|---|---|---|
Credit/debit card
|
Yes
|
Yes |
No
|
Electronic wallets
|
No | No | No |
Withdrawal fee with bank transfer
|
$0
|
$10
|
$0
|
Data updated on March 14, 2024
Saxo Bank inactivity fee
Saxo Bank does not apply an inactivity fee which is great because your account will not be charged even if you do not trade for a longer time period (months or years).
Risk disclaimer
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