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.
| 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.
| 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.
| 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.
| 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.
| 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.
| 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 in 2021 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:
Methodology
The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.
Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.
Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.
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Disclosure
All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.
