Trade forex saxo. There are 3 trading accounts for each of the Saxo Bank platforms and the minimum deposit required for each is considerably higher than for most Forex brokers. The Classic Account requires a minimum deposit of $10,; $, is needed to open the Premium Account and the minimum required for the.

Trade forex saxo

How To Trade With Saxo Bank

Trade forex saxo. Saxo Bank is a Danish investment bank specializing in online trading and investment. It was founded as a brokerage firm in , under the name Midas Fondsmæglerselskab, by Lars Seier Christensen, Kim Fournais and Marc Hauschildt. The name was changed to Saxo when the company obtained a banking license in.

Trade forex saxo

We believe each Saxo client deserves the freedom to choose the pricing structure that they feel is best for their needs. Importantly, we are not forcing our clients to pay commission. We are simply giving clients an additional choice to select whether they prefer to trade on tighter, variable spreads with a post-trade commission FX Volume Price Plan OR to trade on all-inclusive spreads, which are typically a bit wider, but generally more consistent not fixed, but more frequently the same level.

You choose the pricing model that best suits your expected monthly volumes. You will be charged the respective USD per USD million traded commission fee that is calculated and transparent on each trade. The commission fee is based on the USD equivalent notional amount of each trade, shown in the trade ticket and the trade confirmation in the 2nd variable currency and converted to the account currency equivalent using the prevailing market rates at the time of the trade.

For accounts denominated in another currency other than USD Saxo Bank Saxo will use the closing rate of the last business day of the month for purposes of determining if the minimum commission is applicable to your account. You choose which commission rate level you want to pay USD60, USD30 or USD20 per USD million traded and what minimum monthly commission fee level you are willing to commit to in order to obtain the rate that you feel is most appropriate.

The 3 different levels are denoted above. This commission is charged in your account currency. Assume spot rate of 1. The standard conversion fee is applied when commissions are converted into the account currency.

We use the end of day rate on the last trading day of the month to calculate your equivalent USD commissions. The lowest commission rates are not necessarily appropriate for all clients. The commission-based pricing structure allows you to pay lower per-unit commission rates, but there are also minimum monthly commission amounts payable. What happens if I want to change pricing terms mid-month? You can request to change commission rate and associated minimum monthly commission fee commitment at any point in time.

Minimum commissions will be calculated on a pro-rata basis of the proportionate days that each respective minimum was in effect. This will determine whether or not the minimum commitment has been met through the course of normal trade activity or if there is a shortfall to be charged at month-end.

Minimum commissions for clients opening an account mid-month will be calculated on a pro-rata basis. The spreads are the same no matter which commission level you choose.

You can see our historic spreads for both price types here. Saxo encourages all clients to compare both live and historic FX spreads, as well as to review the minimum monthly commission fees to be sure everyone selects the pricing terms that best suits their individual needs. We know many clients value the consistency an all-inclusive spread offers e. Every client has this choice. If ever you would like to change pricing terms for your account, simply contact your Account Executive or send an email to our Client Services team.

They will be happy to facilitate the change for you. Your commission level will not change automatically based on your volume traded. To request a change in commission rate and corresponding minimum monthly commitment level , please contact your Account Executive or send an email to our Client Services team.

This can be done at any time, but it is not done automatically. The monthly minimum commission chosen by each client will apply until they request a change. To request a change in commission rate and corresponding minimum monthly commitment level , please contact your Saxo Account Executive or send an email to our Client Services team.

In accordance with the all-inclusive spreads' pricing terms, all currency pairs are available and all follow the same cost structure, including spot metals. The commission rate is not more expensive when you trade something other than the most popular currency pairs.

Please refer to prices for more information. No, ticket fees are not charged for smaller traders on the FX Volume Price Plan, you will be charged only the commissions applicable for your plan.

Losses can exceed deposits on margin products. Please ensure you understand the risks. Apple, iPad and iPhone are trademarks of Apple Inc. App Store is a service mark of Apple Inc. How are my commission costs calculated? If my account is denominated in a currency other that USD how do you determine whether the minimum requirements are met? What is the minimum monthly commission for clients that open their account mid-month? I am already a client with Saxo.

Can I pay a higher per trade commission with a lower monthly minimum if I become less active? Your browser cannot display this website correctly. Our website is optimised to be browsed by a system running iOS 9. X and on desktop IE 10 or newer.

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