Trading Conditions

To view the full trading rates on all Forex crosses click here.

To view Swap Rates on all Forex crosses click here.

Target Bid/Ask Spreads
The target bid/ask spreads listed are Saxo Bank's best possible target spreads used in normal market conditions. In quiet market conditions, the spread may be even narrower but in periods of volatile markets, the spread may be increased and auto-execution disabled. The spreads applicable to your account will be displayed in your SaxoTrader platform. Please consult Coactorii Finance to obtain further information about the spread range and its implications to your account.

Margin Requirements
Forex is traded on margin, enabling you to leverage a small margin deposit for a much greater market effect. See a full list of FX margin rates for retail clients.

Auto-executed Trades
Major currency trades can be auto-executed for amounts below the auto-execution limit. Auto-executed trades are automatically accepted. For trade sizes over the auto-execute limit and in volatile market conditions, the trade must first be approved by a dealer. This process normally takes just a few seconds.

Note: These are typical auto-execute limits that can change over the day, depending on market conditions and available liquidity.

Ticket Fees
For Forex trades below the Ticket Fee Threshold listed, a small ticket fee of USD 5 is added to the trade to cover administration costs.

Margin Calls
You must maintain the margins listed in your account at all times. If the funds in your account fall below this margin, you will be subject to a margin call to either deposit more funds to cover your positions or close positions – normally you will be notified through the trading platform and via email. If your margin situation is not remedied, Saxo Bank may close positions on your behalf.

Forex Trading Hours
Your trading account is open for Forex trading:

  » From Monday 05:04 Sydney local time
  » To Friday 16:59 Eastern Standard time

However, some currencies have special trading hours as shown in the table below:

Currency cross Trading Hours
AED, SAR 07:00 to 15:00 CET
ILS 07:00 to 17:00 CET
RON 08:15 to 17:00 CET
RUB 07:00 GMT to 19:00 GMT*
THB 17:04 EST to 15:30 CET
Precious metals (XAU, XAG, XPT**) 18:01 to 16:59 EST

* In instances where no liquidity can be sourced in the market, these trading hours may be further reduced on a day-to-day basis
** Special dates and times for FX Metals apply on U.S. national holidays to reflect the trading hours of the underlying futures market

Please note, FX spot, forward and option prices stop streaming from 1 minute before the end of the trading day (17:00 Eastern Standard time) and remain non-tradeable (grey pricing) for 5 minutes. This is normal behavior. Saxo want you to recognise that liquidity can be thin during this brief interval and encourage you not to trade at this time. 

Rollover of positions

For more information about Swap Rates click here