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Futures trading conditions at Saxo explained

Your expert
Adam N.
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Updated
1w ago
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Can you trade futures at Saxo?

Futures trading is increasingly popular, but it's still something of a niche product aimed at more experienced traders, so not all brokers offer it and trading conditions can differ widely.

Good news: you can trade futures at Saxo, under good conditions and with access to many futures markets. Open your Saxo account or read on for details and comparisons.

Saxo is great for futures trading
Adam
Adam Nasli
Forex • Algo Trading • Market Analysis

I've tested dozens of brokers in recent years, including their futures trading features. Saxo impressed me overall; here's why:

  • It has an above-average futures trading score based on fees, products and UX.
  • Saxo offers access to 28 futures markets.
  • Futures trading fees at Saxo are high.
  • Trading platform and research quality make a difference.
  • See how Saxo compares to the best in class.

Before we begin, let's see if Saxo is available in your country:

No, you can't open an account at Saxo if you live in the United States!

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62% of retail CFD accounts lose money

Overall score
4.8/5
Minimum deposit
$0
Stock fee
Low
FX fee
Low
Inactivity fee
no
Account opening
1 day
Visit Saxo

62% of retail CFD accounts lose money

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Saxo excels in futures-related fees, products, tools

To assess whether Saxo is a great place to trade futures, we calculated a comprehensive futures score that takes into account futures trading fees, the potential number of futures products available, and the quality of the broker's trading platform (including charting and other research tools).

Saxo's overall futures score of 3.7 stars is considered above average among the brokers we cover that offer futures trading. Here's how Saxo scored against some close rivals:

Broker
Futures score
Saxo
3.7
/5
Swissquote
3.3
/5
Interactive Brokers
4.5
/5
Saxo futures score vs selected competitors
Need a refresher course on futures trading? Here's a high-level overview of all you need to know about futures, as well as an expert view on the pros and cons of futures trading.

Saxo has access to 28 futures markets

Saxo Bank covers a lot of futures markets.

You can trade futures on the following underlying asset types:

  • commodities
  • stocks
  • equity indexes
  • bonds
  • currencies
Broker
Futures markets (#)
Saxo
28
Swissquote
6
Interactive Brokers
32
Number of futures markets available at Saxo vs selected competitors

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62% of retail CFD accounts lose money

Futures fees at Saxo are high

Unlike most brokers, Saxo Bank charges a carrying cost for overnight positions in futures. The carrying cost is calculated on the basis of the daily margin requirement and is applied to positions held overnight. This can be quite a significant amount if you hold the contract for a longer time.

The funding rate used for calculating the carrying cost is based on the relevant Interbank rate, plus a markup (350 bps for Classic accounts).

In the table below, we listed futures trading fees (calculated in USD terms) at Saxo and some of its competitors for trading 10 futures contracts.

Broker
US micro e-mini stock index futures
UK stock index futures
Saxo
$30.0
$37.8
Swissquote
$19.9
-
Interactive Brokers
$2.5
$21.4
Futures trading fees and scores at Saxo vs selected competitors. Data updated on February 4, 2025.

Please note that some brokers don't charge a separate fee for closing a futures trade. In these cases, in order to represent this discount properly, we calculated with just half of the opening fee, because most other brokers charge for both the opening and closing transactions.

So what's all the fuss about fees? Aren't they just a tiny fraction of the value of a typical trade? Well, they may be, but differences in fees among brokers can still be substantial.

🧮Of the 100+ brokers we cover, the cheapest one charges $1.4 for trading 10 US micro e-mini stock index futures contracts, while the most expensive one charges $35; the average fee comes to $11.34.

Even if you're just a casual trader who does one or two futures deals a month, the difference in trading fees can add up to hundreds of dollars a year. Just think of all the goodies you can buy with that money!

Trading platform and research quality make a difference

Trading fees and product selection are only part of the story when it comes to futures trading.

  • A great trading interface (especially on desktop) with user-friendly search and order functions, good charting capabilities and quality research material are a futures trader's best friend.
  • Costs don't stop at trading fees; if you trade frequently and want to take out money from your account often, withdrawal fees can sting.

In the table below, you can check how Saxo compares to some close competitors in trading platform quality and other features.

Broker
Research score
Charting quality
Saxo
5.0
/5
Great
Swissquote
4.8
/5
Great
Interactive Brokers
4.5
/5
Great
Trading platform quality and other conditions at Saxo vs selected competitors
Overall score
4.8/5
Minimum deposit
$0
Stock fee
Low
FX fee
Low
Inactivity fee
no
Account opening
1 day
Visit Saxo

62% of retail CFD accounts lose money

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See some great alternatives to Saxo

Saxo is great for futures trading, but can you go one better? See for yourself by browsing our top ten list of the best futures brokers in your country.

Alternatively, if you want a broader comparison or have some specific other brokers in mind, you can use our broker comparison tool to size up futures brokers along many different criteria.

Still missing something? Our knowledgeable AI assistant Nuri is here to answer all your futures-related needs.

If you have any questions, Nuri AI can help you!

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62% of retail CFD accounts lose money

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Further reading

Everything you find on BrokerChooser is based on reliable data and unbiased information. We combine our 10+ years finance experience with readers feedback. Read more about our methodology.

author
Adam Nasli
Author of this article
I bring extensive financial expertise as one of BrokerChooser's earliest team members. Personally, I tested nearly all 100+ brokers on our site, opening real-money accounts, executing trades, assessing customer services, and providing firsthand assessment. My professional background includes roles in the banking sector and a degree from Central European University, where I teach finance. My passions lies in in-depth research of the financial industry, building trading algorithms, and managing long-term investments.
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Visit Saxo 62% of retail CFD accounts lose money