! Please be aware, that custody fee is also calculated on NOCT (not on-line client tradable) and Delisted instruments.
The scope of this article is to help you understand how the fees are calculated and includes an example:
Daily Calculation formula:
(Number of shares * Closing Price) * (Custody Fee p.a. / Yearly day count)
Please note the yearly day count may differ for some currencies.
Calculation Example (in example is custody fee of 0.12 % is used):
If you hold 1,000 shares in company XYZ Inc. and the closing price is EUR 25.00 the daily custody fee will be calculated as:
(1,000 x EUR 25.00) * (0.12%/360) = EUR 0.08333 per day
Monthly billing:
At the end of each month, the calculated daily custody fees during the month are added up and debited from the account that holds the position.
Is there a minimum fee?
Saxo does not apply a minimum custody fee.
In which currency is the custody fee charged?
Custody fee will be calculated on the instrument currency daily using the end of day values. It will be converted to the account currency at zero conversion fees when booked monthly.
Is there any relation between custody fee amount and trading activities?
No, there is no relation between the custody fee and your trading activities.
If I buy stocks on the 5th day of a month with a value date of the 8th (assuming no weekend in between) and I keep the position for the whole month, for which period will the custody fee apply?
The custody fee is effective from the value date and not the trade date. Therefore the fee will be charged from the 8th until the end of the month.
Which account will be charged if I have sub accounts?
The custody fee is applied to the account where the position is held. If positions are held on both accounts then both will be charged. If the minimum fee is applicable then this will be charged to the default account.