Saxo Bank Fees Explained

Page Summary

Saxo Bank offers a premium trading experience, but it has high trading and non-trading fees. Saxo Bank is a top online broker with a transparent fee structure. It has top-tier licenses from ASIC, FSA, FINMA, MAS, SFC, and FCA.

Each online broker has a specific fee structure. This article discusses the fees at Saxo Bank.

Trading Fees

Saxo Bank has mid-tier to high trading fees. For example, the stock fee for a $2,000 trade is $10. We review online brokers with real accounts and money. Our findings depend on many criteria, including trading volume. Read our in-depth reviews to discover more about the trading fees at Saxo Bank. 

Trading Fees Comparison

Saxo Bank Swissquote TradeStation Global
US stock $10.0 $25.0 $1.5
UK stock $11.2 $35.0 $2.4
German stock $12.0 $30.0 $2.4

Financing Rates

Saxo Bank has low financing rates. For example, the yearly financing rate for Apple CFD is 3.6%. Financing rates are important if you want to hold your positions for the long term. 

Financing Rates Comparison

Saxo Bank Swissquote TradeStation Global
Apple CFD financing rate 3.6% 1.6%
Vodafone CFD financing rate 3.5% 1.5%
EURUSD financing rate 1.7% 1.9% 1.7%
EURGBP financing rate 1.5% 1.7% 1.6%

Non-trading Fees

Saxo Bank has low non-trading fees. Non-trading fees are essential when it comes to online trading. The withdrawal and deposit fee at Saxo Bank is $0. Check our in-depth reviews to learn more about non-trading fees at Saxo Bank. 

Non-trading Fees Comparison

Saxo Bank Swissquote TradeStation Global
Withdrawal fee $0 $10 $0
Deposit fee $0 $0 $0
Inactivity fee Yes No No
Account fee No No No

Deposit Fees

Saxo Bank doesn’t charge a fee for deposits from bank transfers and credit/debit card deposits. Deposit fees occur when transferring funds from your personal accounts to your brokerage account. The best online brokers offer fee-free deposits. 

Deposit Fees Comparison

Saxo Bank Swissquote TradeStation Global
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes No
Electronic wallets No No No
Deposit fee $0 $0 $0

Withdrawal Fees

Saxo Bank doesn’t charge a withdrawal fee for bank transfers and credit/debit card withdrawals. Charging a withdrawal commission is coon among leading online brokers. Read our in-depth reviews to discover information about trading costs at Saxo Bank. 

Withdrawal Fees Comparison

Saxo Bank Swissquote TradeStation Global
Bank transfer Yes Yes Yes
Credit/debit card Yes Yes No
Electronic wallets No No No
Withdrawal fee with bank transfer $0 $10 $0

Inactivity Fee

Saxo Bank has a high inactivity fee. For UK accounts, the fee is £25 after one-quarter of inactivity. Non-UK brokerage accounts have an inactivity fee of up to $150 after 6 months of inactivity.

Inactivity Fee Comparison

Saxo Bank Swissquote TradeStation Global
Inactivity fee Yes No No
Inactivity fee In the UK, £25 after one quarter of inactivity. SIPP and ISA accounts are exempt from this fee. In non-UK countries, up to $150 after 6 months of inactivity. No inactivity fee charged No inactivity fee

Final Verdict

Saxo Bank is a top online broker with a mid-tier to high fee structure. Trading costs at this broker are higher than with competitor brokerage firms. It is a top choice for advanced traders who want to use premium trading services. Learn more about online trading and fees from our in-depth reviews.

Saxo Bank compared to other brokers:


Disclaimer

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