Commissions, Charges and Margins Schedule

Minimum account size

USD 2,000 for a private Saxo MiniTrader account.
USD 10,000 for a SaxoTrader account

Interest on funds deposited with Saxo Bank

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

• interest will not be paid on Net Free Equity up to USD 15,000 (or the currency equivalent)
• for positive Net Free Equity exceeding USD 15,000 up to USD 100,000 - interest will be paid at LIBID minus 3% on the full amount
• for positive Net Free Equity exceeding USD 100,000 - interest will be paid at LIBID minus 2% on the full amount
• for negative Net Free Equity - interest will be charged at LIBOR plus 3%

Net Free Equity is defined as:

• The cash balance held on a trading account
• Minus the value of Saxo Bank's margin requirements for any open trade positions. For this purpose, margin requirements are a flat 2% for all FX positions and a flat 10% for all CFD positions
• Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs, futures, sold exchange traded options

Interest will be calculated on the basis of the Net Free Equity on each individual account or sub-account and will be calculated daily and settled monthly - within 7 business days after the end of each calendar month.

Retail Interest Rates

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

• interest will not be paid on Net Free Equity/Account Value up to USD 15,000 (or the currency equivalent)
• for positive Net Free Equity/Account Value exceeding USD 15,000 up to USD 100,000 - interest will be paid at LIBID minus 3% on the full amount
• for positive Net Free Equity/Account Value exceeding USD 100,000 - interest will be paid at LIBID minus 2% on the full amount
• for negative Net Free Equity/Account Value - interest will be charged at LIBOR plus 3%

Institutional Interest rates

The following interest rates apply to funds deposited with Saxo Bank

• for positive Net Free Equity interest will be paid at LIBID minus 1% on the full amount for all Account Values
• for negative Net Free Equity interest will be charged at LIBOR plus 1% on the full amount for all Account Values