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Saxo Bank Fees Explained

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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 rate3.6%1.6%
Vodafone CFD financing rate3.5%1.5%
EURUSD financing rate1.7%1.9%1.7%
EURGBP financing rate1.5%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 feeYesNoNo
Account feeNoNoNo

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 transferYesYesYes
Credit/debit cardYesYesNo
Electronic walletsNoNoNo
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 transferYesYesYes
Credit/debit cardYesYesNo
Electronic walletsNoNoNo
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 feeYesNoNo
Inactivity feeIn 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 chargedNo 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:


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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.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.


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