markets

 

 

Markets

Single Stock CFDs - Markets and Commissions

Saxo Capital Markets currently offers CFDs on the following exchanges:
 
Exchange
Commission Rate
Minimum Commission
CFD Financing**** (Long/Short)
EUROPE
 
 
 
Austria (VIE)
0.10%
EUR 12
3pp/-2.5pp
Belgium (BRU)
0.10%
EUR 12
3pp/-2.5pp
Czech Republic (PRA)
0.25%
CZK 500
3.5pp/-4.5pp
Denmark (CSE)
0.10%
DKK 65
3pp/-2.5pp
Finland (HSE)
0.10%
EUR 10
3pp/-2.5pp
France (PAR)
0.10%
EUR 12
3pp/-2.5pp
Germany (FSE)
0.10%
EUR 12
3pp/-2.5pp
Greece (AT)
0.30%
EUR 12
3pp/-2.5pp
Hungary (BUD)
0.50%
HUF 6,000
3pp/-2.5pp
Italy (MIL)
0.16%
EUR 12
3pp/-2.5pp
London International (LSE_INTL)
0.10%
USD 20
3pp/-2.5pp
Netherlands (AMS)
0.10%
EUR 12
3pp/-2.5pp
Norway (OSE)
0.10%
NOK 65
3pp/-2.5pp
Poland
0.25%
PLN 65
3pp/-2.5pp
Portugal (LISB)
0.10%
EUR 12
3pp/-2.5pp
Spain (SIBE)
0.10%
EUR 12
3pp/-2.5pp
Sweden (SSE)
0.10%
SEK 65
3pp/-2.5pp
Switzerland (SWX)
0.10%
CHF 18
3pp/-2.5pp
Turkey (IST)
0.20%
TRY 50
3.50pp/4.5pp
UK (LSE_SETS)
0.10%
GBP 8
3pp/-2.5pp
 
NORTH AMERICA
Nasdaq (NASDAQ)
$0.02 CFD
USD 20
3pp/-2.5pp
New York (NYSE)
$0.02 CFD
USD 20
3pp/-2.5pp
NYSE ARCA (NYSE_ARCA)
$0.02 CFD
USD 20
3pp/-2.5pp
Toronto (TSE)
$0.03 CFD
CAD 25
3pp/-2.5pp
US (AMEX)*
$0.02 CFD
USD 20
3pp/-2.5pp
 
 
 
ASIA/PACIFIC
Australia (ASX)
0.10%
AUD 8
3pp/-2.5pp
Hong Kong  (HKEY)**
0.25%
HKD 90
3pp/-2.5pp
Singapore (SGX-ST)
0.20%
SGD 17
3pp/-2.5pp
Tokyo (TYO)
0.15%
JPY 1,000
3pp/-2.5pp
 
 
 
 
AFRICA
 
 
 
South Africa***
0.25%
ZAR 100
4.5pp/-3pp

 

* Due to limited liquidity in the exchange order book, market orders are not supported on this exchange as the fill price can vary considerably from the indicated market price. Use Limit Orders instead to guarantee the minimum price for your order.
 
** Automated trading from 09:30-16:30 with a break between 12:00 - 13:30.
*** South African Stocks and Single Stock CFDs are not available for trading to residents of South Africa due to regulatory restrictions.
 
**** pp = percentage points

Immediate changes to Short Selling CFDs

Due to market conditions, a number of regulatory authorities have announced regulatory requirements for the short-selling of certain physical Stocks. These rule changes are put in place to protect the integrity and quality of the securities market and strengthen investor confidence. As a consequence, the changes will affect the short-selling of related CFDs. Read about the latest announcements regarding restrictions in short-selling. Saxo Capital Markets recommends that clients check this website on a frequent basis for further announcements.
 
Please note, it will not be possible to open new short CFD positions in affected companies during this period. Existing short CFD positions will be permitted and do not need to be closed. 

Stock Bid / Ask spreads & Commissions

Single Stock CFDs follow the price of an underlying Stock, hence the bid/ask spread of the CFD equals the spread of the underlying Stock.

SEC Section 31 Fees for US CFDs DMA and Shares

Saxo Capital Markets passes on to clients the SEC Section 31 fee of $18.40 per million (0.184 BP) on US exchange CFDs DMA and stock SELL transactions where client orders are entered directly into the underlying market. This fee applies only to US exchanges. To read more about Section 31 visit: http://www.sec.gov/answers/sec31.htm

CFDs on the Johannesburg Stock Exchange

Due to regulatory issues South African Single Stock CFDs and Stocks are offered to offshore clients only.

Algorithmic Orders

A wide range of Algorithmic order types for CFDs trading are available on European and US exchanges such as: Reload, VWAP, Iceberg, With Volume, Implementation Shortfall and Smart Dark.
 
For Algorithmic Orders an additional commission is added to the regular trading commission.
 
  Algo commission Notes
European exchange 0.03%  
US exchanges 2 cents per share Reload is not supported

The Algo commission does not apply to Reload and Iceberg orders.

The minimum order size is USD 50,000 (or equivalent). The additional commission only applies to processed orders.

Index-Tracking CFDs

Spreads

When trading Index-Tracking CFDs with Saxo Capital Markets you do not pay any commission when opening or closing a position as the cost is included in the Bid / Ask spread and there is no minimum ticket fee. 

Please refer to the minimum spreads that apply under "Contract Details" below.

Expiring Index-Tracking CFDs

Saxo Capital Markets currently offer trading in the US2000 expiring Stock Index-Tracker CFDs, which gives exposure to 2,000 small-cap US Stocks.
 
The US2000 Index-Tracker CFDs tracks the price of the underlying Futures contract and is traded with the Futures' market spread with a small mark-up. There are no other fees or commissions applied, however, a small minimum trade size apply.
 
The US2000 Index-Tracker CFDs expires quarterly similar to the Futures contract. Once expired, it is cash settled on the expiry date. Any positions still open at the time of expiry will be automatically closed at the market price.
 
Manual roll of a position from one expiry to another may be done until the time of expiry occurs (i.e. 17:00 New York time).
 
 
Stock Index Tracker Name
Trading hours*​ Spread**​ Margin required***​ Value of one contract***​
US Tech 100 NAS​ 22 hours (18:00 - 16:00)​ 1​ 0.50%​ USD 1​
US 30 Wall Street​ 22 hours (18:00 - 16:00)​ 3​ 0.50%​ USD 1​
US SPX500​ 22 hours (18:00 - 16:00)​ 0.9​ 0.50%​ USD 1​
Germany 30 08:01 - 21:55​ 1.5​ 0.50%​ EUR 1​
UK 100​ 01:01 - 20:55​ 1​ 0.50%​ GBP 1​
France 40​ 08:01 - 21:55​ 2​ 0.50%​ EUR 1​
Australia 200​ 10:10 - 16:25​ 1.5​ 0.50%​ AUD 1​
Switzerland 20​ 08:01 - 21:55​ 3​ 0.50%​ CHF 1​
Italy 40​ 09:01 - 17:25​ 12​ 0.50%​ EUR 1​
Spain 35​ 09:01 - 19:55​ 8​ 0.50%​ EUR 1​
EU Stocks 50​ 08:01 - 21:55​ 2​ 0.50%​ EUR 1​
Japan 225​ 09:01 - 00:30​ 12​ 0.50%​ JPY 1​
Hong Kong​ 09:16 - 16:10​ 12​ 0.50%​ HKD 1​
Netherlands 25​ 08:01 - 21:55​ 0.25​ 0.50%​ EUR 1​
Sweden 30​ 09:01 - 17:25​ 0.65​ 0.50%​ SEK 1​
Norway 25​ 09:01 - 16:15​ 1​ 0.50%​ NOK 1​
Belgium 20​ 09:10 - 17:30​ 13​ 0.50%​ EUR 1​
Denmark 20​ 09:10 - 16:55​ 2.5​ 0.50%​ DKK 1​
UK Mid 250​ 08:10 - 16:30​ 44​ 0.50%​ GBP 1​
Germany Tech 30​ 09:10 - 17:30​ 4.5​ 0.50%​ EUR 1​
Germany Mid-Cap 50​ 09:10 - 17:30​ 15​ 0.50%​ EUR 1

 

* Trading hours are stated in the local hours of the underlying exchange - please note that the Hong Kong trading session has a mid-session break between 12:00-13:00 and the trading session in Japan between 3:25 pm and 4:15 pm. For UK100 there is a trade break from 07:50-08:01.

 
** 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: Dax.I 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.
 
*** Margin required: you can benefit from 200 times leverage for the first EUR 50,000 or equivalent of combined CFDs margin collateral, meaning that a single account can hold a position with a maximum exposure of EUR 10,000,000 for a single instrument at the rate of margin shown in the table above. Above this threshold the margin applicable doubles. Saxo Capital Markets reserves the right to increase margin requirements for considerably concentrated client portfolios.
 
**** Point Value of one contract: this is the currency risk you incur with one Stock Index CFDs 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 CFDs traders.

Pricing

​At Saxo Capital Markets Index-Tracking CFDs are traded at a minimum spread, which is defined as the spread you will see under normal market conditions.
 
Volatile market conditions may affect the spreads shown on these instruments.

Contract details

Index CFDs are over-the-counter products with a price established by Saxo Capital Markets. Index CFDs aim to reflect the fair value of the underlying index, but the actual bid and ask price may differ slightly from the actual index level

 

Stock IndexSymbol codeSpread*Trading Hours**CFD Financing (long/short)
Netherlands 25AEX.I0.2508:01-21:553pp/-2.5pp
Australia 200ASXSP200.I1.510:10-16:253pp/-2.5pp
France 40CAC40.I208:01-20:553pp/-2.5pp
Germany 30DAX.I1.508:01-21:553pp/-2.5pp
Denmark 20DEN20.I2.509:10-16:553pp/-2.5pp
US 30 Wall StreetDJI.I319:00-16:003pp/-2.5pp
UK 100FTSE100.I11:01 - 20:55 3pp/-2.5pp
Spain 35SPAIN35.I808:01 - 21:55 3pp/-2.5pp
Germany Mid-Cap 50MDAX.I.1509:10-17:303pp/-2.5pp
US Tech 100 NASNAS100.I119:00-16:003pp/-2.5pp
Japan 225NI225.I1209:01-15:25 &
16:15-00:30
3pp/-2.5pp
Switzerland 20SMI.I308:01-21:553pp/-2.5pp
US SPX500SP500.I0.919:00-16:003pp/-2.5pp
Italy 40ITALY40.I​1209:01-17:253pp/-2.5pp
EU Stocks 50STOXX50E.I208:01-21:553pp/-2.5pp
Sweden 30SWE30.I0.6509:01-17:253pp/-2.5pp
Belgium 20BELG20.I1309:10-17:303pp/-2.5pp
UK Mid 250FTSE250.I4408:10-16:303pp/-2.5pp
Norway 25NOR25.I109:01-17:203pp/-2.5pp
Germany Tech 30TECDAX.I4.509:10-17:303pp/-2.5pp
Hong KongHSI.I12***09:16-16:10****3pp/-2.5pp

 

* Normal market conditions. 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: Dax.I normal spread is 2 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 2 + (1 - 0.5) = 2.5.

** Please note that times noted are local exchange times.

***Available for trading from 1st March 2011.

****Mid-break 12:00-13:00.

US2000 Index-tracking CFDs contract details

The US2000 Index-Tracker CFDs trades on the spread of the underlying Future plus a small mark up.

Trading Hours

With Saxo Capital Markets you can trade the most popular indices in the trading session timeframe up to 22 hours.
 
See trading hours for each Index-Tracking CFDs under 'Contract details' above.

Short Selling

Short selling of Index-Tracking CFDs is fully supported with Saxo Capital Markets.

Order Types

Limit, Market, Stop, Stop Limit and Trailing Stop orders are supported. In addition you are able to place conditional "If Done" and "One Cancels Other (OCO)" orders.
 
A Stop Order to sell your position is triggered on the bid price and Stop Orders to buy are triggered on the ask price.

Overnight Financing

As Index-Tracker CFDs at Saxo Capital Markets are margined products, you finance the traded value through an overnight credit/debit charge.If you open and close a CFD position within the same trading day, you are not subject to overnight financing.
 
When you hold an Index-Tracker CFD position overnight, your CFD position will consequently be subject to the following credit or debit:
 
Holding Long CFD Stock Index-Tracker positions after 17:00 EST (New York time) incurs a financing charge which is calculated as follows:
 
Index Value * Number of CFDs * (relevant Inter-Bank Offered Rate + 3%) * (Actual Number of Days/360 or Actual Number of Days/365)
 
Holding Short positions after 17:00 EST (New York time) creates a financing credit which is calculated as follows:
 
Index Value * Number of CFDs * (relevant Inter-Bank Offered Rate – 2.50%) * (Actual Number of Days/360 or Actual Number of Days/365)
 
If the financing credit is negative it will be debited your account.
No Overnight Financing on US2000 Index Tracker
 
As the price of the US2000 Index-Tracker CFD tracks the price of the underlying Futures Contract no overnight financing apply.
back to  prices

Saxo Capital Markets South Africa is an authorized Financial Services Provider and regulated by the Financial Services Board, registration number 40983. Registered address: The Place, 1 Sandton Drive, Sandown, Johannesburg, South Africa.  

Apple iPad and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc.

Free Demo