This week we learned that Danish headquartered and globally regulated multi-asset brokerage house Saxo Bank will offer a tiered based forex commission scheme to its clients based on the amount of volume being done. This will also sit next to their all inclusive no-commission pricing where the fee is built into the spread.
What are my trading costs with the FX Volume Price Plan?
You choose the pricing model that best suits your expected monthly volumes. You will be charged the respective USD per USD million traded commission fee that is calculated and transparent on each trade. The fee can be seen in the Trade Ticket Confirmation and also in the Open Positions monitor.
The commission fee is based on the USD equivalent notional amount of each trade, shown in the trade confirmation in the 2nd currency, then converted to the final account currency equivalent at the end of day.
The two plans are laid out as follows:
FX Volume Price Plan
– Designed for higher volume trading
– Spreads as low as 0.2 pips plus commissions
– Same spreads available on all price plans
– Your commission rate applies to ALL pairs, including metals
– Choose the Price Plan that suits you
Commission: USD 60 per million traded
with Zero minimum monthly
Commission: USD 30 per million traded
with USD 600 minimum monthly
Commission: is USD 20 per million traded
with USD 2,000 minimum monthly
FX All-Inclusive Price Plan
– Designed for pricing simplicity
– No additional volume-based commission on trades
– More consistency in spread width
– Less variability in spread across notional trade sizes
– No minimum monthly commission fee
I am already a client with Saxo. Can I change my current pricing terms to enjoy an FX Volume Price Plan?
Yes. Every client has this choice. If ever you would like to change pricing terms for your account, simply contact your Account Executive or send an email to the Client Services team. They will be happy to facilitate the change for you.
To read more about the new pricing changes being offered click here.