Negative interest rates apply to clients holding cash in EUR, CHF or DKK balances above the thresholds listed below.
The threshold and interest will be applied to the available Net Free Equity (NFE) in your main trading account, as well as the account value on subaccounts.
The following interest rates apply to funds deposited with Saxo
- For positive Net Free Equity, the interest will be the highest of either: the market bid rates minus the markdown or zero. Interest will be paid on the full amount, if Account Values/Net Free Equity is above threshold.
- For negative Net Free Equity, interest will be market ask rates plus a mark-up, however never less than the mark-up. Interest will be charged on the full amount for all Account Values/Net Free Equity.
For deposits in currencies with negative interest rates
Saxo charges negative interests aligned with central bank rates. The charge applies to balances above the thresholds indicated in the table below. The interest rates applied by the central banks are continuously monitored. If a rate is changed, Saxo will adjust its negative interest rates accordingly with effect from the start of the next month.
Positive NFE (currencies with negative rates)
|Currency||Threshold||Rate for balances above threshold|
Positive NFE (currencies with positive rates)
|Markdown to prevailing market rate||–3%|
|Markup to prevailing market rate however never less than the markup||4%||8%||8%|
Interest will be calculated daily and settled monthly – within seven business days after the end of each calendar month.
Please, refer to Commissions, Charges and Margin Schedule on our web page.