Spreads & Commissions​

Index Tracker CFD spreads

​Index-tracking CFD contract details (continuous)


Index TrackerSpread 1)Margin requiredValue of one contract 2) Trading Hours 3)
US US Tech 100 NAS1​​.02%USD 118:01 - 16:00 (22 hrs)
US US 30 Wall Street3.02%USD 118:01 - 16:00 (22 hrs)
US US 5000.92%USD 118:01 - 16:00 (22 hrs)
Belgium Belgium 20135%EUR 109:10 - 17:25
Denmark Denmark 202.55%DKK 109:10 - 16:55
EU EU Stocks 502.04%EUR 108:01 - 21:55
France France 402.03%EUR 108:01 - 21:55
Germany Germany 301.53%EUR 108:01 - 21:55
Germany Germany Mid-Cap 50155%EUR 109:10 - 17:25
Germany Germany Tech 304.55%EUR 109:10 - 17:25
Italy Italy 4012*5%EUR 109:01 - 17:25
Netherlands Netherlands 250.253%EUR 108:01 - 21:55
Norway Norway 251.05%NOK 109:10 - 16:15
Portugal Portugal 202510%EUR 108:10 - 16:25
South Africa South Africa 401010%ZAR 108:31 - 17:25
Spain Spain 358.05%EUR 109:01 - 19:55
sweden Sweden 300.655%SEK 109:01 - 17:24
Switzerland Switzerland 203.04%CHF 108:01 - 21:55
UK UK 1001.02%GBP 101:01 - 20.55
UK UK Mid 250445%GBP 108:10 - 16.25
Australia Australia 2001.52%AUD 109:51 - 05:55 3)
Hong Kong Hong Kong125%HKD 109:16 - 22:55 3)
Japan Japan 225123%JPY 108:46 - 02:55 3)

Index-tracking CFD contract details (expiring)

​Index Tracker NameSpread Mark up4)MarginValue of one contract 2) Trading Hours 3)
US US2000 0.55%USD 120:01-16:00 EST
China China 501210%​​USD 109:01 - 01:55
India India 504.010%USD 109:01 - 01:55
Singapore Singapore0.3010%SGD 108:31 - 01:55
Tiawan Taiwan0.4010% USD 108:46 - 01:55
​ ​

*   Italy 40: Italian derivatives are subject to Italian Financial Transaction Tax (Stamp duty) which is applied for both buys and sells. Click here for more information about the Italian Financial Transaction Tax (IFTT).
Also, an additional charge of 2 bps. (0.02%) of the trade amount is applied, to cover Saxo Bank’s increased cost of execution and hedging due to IFTT.

1)   Spreads: the spreads indicated are minimum spreads and depend on the spread of the underlying futures contract. If the underlying future trades at a spread that is larger than the minimum spread, the Index spread will be increased with the additional spread from the future. Example: Germany 30 normal spread is 1.5 index points if the future spread is 0.5 indicating normal conditions. If the liquidity is low in the future and the spread is 1, the Index spread will be 1.5 + (1 - 0.5) = 2.

2)   Point Value of one contract: this is the currency risk you incur with one Stock Index CFD contract. The increment of risk is also one currency unit (i.e. you can increase your position by increments of one index). There is no minimum commission for Stock Index CFD traders.

3)   Trading hours are stated in the local hours of the underlying exchange - please note that the Hong Kong Index trading session has a mid-session break between 12:00-13:00 and an evening break between 16:30-17:01, the trading session in Japan 225 has a break between 3:20 pm and 4:16 pm and the Australia 200​ there is a break between 16:25 and 17:11.
For CHINA50 there is a mid-session break between 15:55 and 16:41. For INDIA50 there is a mid-session break between 18:05 and 19:16.For SINGAPORE there is a mid-session break between 17:10 and 18:16. For TAIWAN there is a mid-session break between 13:45 and 14:36.

4)  Expiring CFD Index Trackers trade on the spread of the underlying Future plus a small mark up.


Single Stock CFD Commissions

Exchange nameSymbolCommissionMin. Commission
North America & Canada​​
US New York Stock ExchangeNYSE & ARCA0.02 USD/share20 USD
Canada Toronto Stock ExchangeTSE0.03 CAD/share25 CAD
​Europe / Middle East / Africa​
Greece Athens ExchangeAT0.30%12 EUR
Spain BME Spanish ​​ExchangesSIBE0.10%12 EUR
Hungary Budapest Stock ExchangeBUX0.50%6,000 HUF
Germany Deutsche Börse (XETRA)FSE0.10%12 EUR
Ireland Irish Stock ExchangeISE0.10%6 EUR
UK London Stock ExchangeLSE_SETS0.10%8 GBP
UK London Stock Exchange (IOB)LSE_INTL0.10%20 USD
Italy Milan Stock ExchangeMIL0.19%15 EUR
Denmark NASDAQ OMX CopenhagenCSE0.10%65 DKK
Finland NASDAQ OMX HelsinkiHSE0.10%10 EUR
Sweden NASDAQ OMX StockholmSSE0.10%65 SEK
Netherlands NYSE Euronext Amsterdam (AEX)**AMS0.09%5 EUR
Belgium NYSE Euronext BrusselsBRU0.10%12 EUR
Portugal NYSE Euronext LisbonLISB0.10%12 EUR
France NYSE Euronext ParisPAR0.10%12 EUR
Norway Oslo Stock ExchangeOSE0.10%65 NOK
Czech Republic Prague Stock ExchangePRA0.25%500 CZK
Switzerland SIX Swiss ExchangeSWX & VX0.10%18 CHF
Austria Vienna Stock ExchangeVIE0.10%12 EUR
Poland Warsaw Stock ExchangeWSE0.25%65 PLN
Asia / Pacific​
South Africa Johannesburg Stock ExchangeJSE0.25%100 ZAR
Australia Australian Securities ExchangeASX0.10%8 AUD
Hongkong Hong Kong ExchangesHKEX0.25%90 HKD
Singapore Singapore ExchangeSGX-ST0.20%17 SGD
Japan Tokyo Stock ExchangeTYO0.15%1,000 JPY
​ ​

Commodity CFD spreads

Commodity CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.

Contract Details

Instrument NameSymbolSpread MinimumMin. trade sizeMarginTrading hoursExpiry date
​ ​META​LS​ ​ ​ ​ ​ ​
GoldGOLD0.6014%18:01-17:00 ESTFND -2
SilverSILVER3.5258%18:01-17:00 ESTFND -2
PlatinumPLATINUM1.718%18:01-17:00 ESTFND -2
PalladiumPALLADIUM1.7518%18:02-17:00 ESTFND -2
US CopperCOPPERUS0.555004%18:01-17:00 ESTFND -2
US CrudeOILUS0.05255%18:01-17:00 ESTLTD -2
UK CrudeOILUK0.05254%01:01-22:15 GMTLTD -2
Heating OilHEATINGOIL0.355004%18:01-17:00 ESTLTD -2
Gasoline USGASOLINEUS0.255004%18:01-17:00 ESTLTD -2
Gas OilGASOILUK1.2512%00:01-21:15 GMTLTD -2
US Natural GasNATGAS0.0172008%18:01-17:00 ESTLTD -2
CO2 EmissionsEMISSIONS0.072510%07:01-17:00 GMTLTD -2
CornCORN1.252005%19:01 – 13:20 CSTFND -2
WheatWHEAT2.252005%19:01 – 13:20 CSTFND -2
SoybeansSOYBEANS1.752005%19:01 – 13:20 CSTFND -2
NY Sugar No. 11SUGARNY0.055,0005%04:31-13:00 ESTLTD -2
NY CoffeeCOFFEE0.451,0005%05:16-13:30 ESTFND -2
NY CocoaCOCOA914%05:46-13:30 ESTFND -2
Live CattleLIVECATTLE0.1752,0002%08:31-13:05 CSTLTD -2
FND= First Notice
LTD= Last trading

Forex CFD spreads

Forex CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.


Contract details

Instrument NameSymbol​​Spread Mark upMin. trade sizeMarginTrading hoursExpiryExpiry Time
Euro / US DollarEURUSDEC+0.00015,0002%17:01-16:00 CSTFND -310:00 CST
Euro / Japanese YenEURJPYRY+0.025,0004%17:01-16:00 CSTFND -310:00 CST
Euro / Swiss FrancEURCHFRF+0.00025,00010%17:01-16:00 CSTFND -310:00 CST
Euro / British PoundEURGBPRP+0.000255,0002%17:01-16:00 CSTFND -310:00 CST
British Pound / US DollarGBPUSDBP+0.00025,0002%17:01-6:00 CSTFND -310:00 CST
Australian Dollar / US DollarAUDUSDAD+0.00025,0004%17:01-16:00 CSTFND -310:00 CST
USD IndexUSDINDEX+0.0051002%20:01-17:00 ESTLTD -211:00 EST
FND= First Notice; LTD = Last trading

Bond CFD spreads

​Bond CFDs are over-the-counter products with a price established by Saxo Bank as the Futures market spread plus a fixed mark-up.

The mark-up can be seen below under Contract Details and is always available in the Trading Conditions in the trading platforms.


Contract details

Instrument NameSymbolSpread
Min. trade sizeMarginTrading hours
German Government
10 year Bund​
BUND​​​0.0350 CFDs1%08:01-21:55 CET
German Government
5 year Bobl
BOBL0.0350 CFDs1%08:01-21:55 CET
German Government
2 year Schatz
SCHATZ0.01550 CFDs1%08:01-21:55 CET
Italian Government
10 year BTP
10YBTP0.0550 CFDs2%08:01-18:55 CET
French Government
10 year OAT
10YOAT0.0550 CFDs2%08:01-18:55 CET

ETF & ETC CFD Commissions

At Saxo Bank ETF / ETC CFDs are priced similar to Single Stock CFDs, i.e. when trading ETF / ETC CFDs you pay a fixed commission in percentage (%) on the notional value of the trade with a minimum for small trade sizes.

For North American exchanges commission is calculated as cents per contract.
See full list of exchange commissions under 'Single Stock CFDs prices' above.
Updated 01 October 2015​


Deense banken zijn verplicht om beleggingsproducten die worden aangeboden aan consumenten, te categoriseren aan de hand van hun complexiteit en risico als: groen, geel of rood.

Een CFDs wordt gecategoriseerd als rood product omdat het wordt beschouwd als een beleggingsproduct met een hoge complexiteit en een hoog risico. Bekijk ook de Productrisicocategorisatie die u vindt onder onze Algemene zakelijke voorwaarden.

Algemene zakelijke voorwaarden