Upcoming adjustments to our pricing and when we pay interest on account balances, effective from 1 February 2025.
These changes are designed to simplify our competitive offerings and align with market standards.
Key Changes
1. Currency Conversion
We will continue to make multi-currency accounts available to all clients and apply a currency conversion fee of 45bps across all account tiers.
2. Standardisation of Nasdaq 100 Index CFD Spread
The US Tech 100 NAS (USNAS100.I) index CFD spread will be adjusted to 1 point for all account tiers.
3. Interest on uninvested cash balances
We will continue to pay competitive interest on uninvested cash balances, noting that the minimum net free equity (NFE) value required to earn interest will be USD $100,000 (or equivalent) for all account tiers.
Your interest rate depends on your account tier (Classic, Platinum or VIP). The interest is composed of the Saxo Bid/Ask rates and a markup or markdown. Information about the Saxo Bid/Ask rates is available here.
The interest rate spreads will be updated as follows:
*Interest rates on positive Net Free Equity (NFE) are floored at 0%, i.e., you are not paying interest (debit) in case the markdown exceeds current Saxo Bid rates.
**Saxo Ask rates are floored at 0%, i.e., the overdraft rate on Negative NFE will not be less than the markup rates.
What these changes mean and how to upgrade your account tier
Importantly, these price adjustments will not impact your ability to trade. You will continue to enjoy all the features of our award-winning platforms.
If you are interested in exploring opportunities to optimise your experience or wish to upgrade your account tier, please do not hesitate to reach out to us. Our team is here to assist you with the upgrade process and discuss any potential benefits that come with a higher tier.
These adjustments enable us to continue offering robust services while maintaining the exceptional platform and trading experience you expect. They are a response to evolving market conditions and industry benchmarks, ensuring that we remain highly competitive in the Australian marketplace.
Thank you for your continued trust and partnership. We remain committed to helping you achieve your financial goals and ensuring you have access to leading trading opportunities.