Commissions, Charges and Margin Schedule

Net Free Equity

Net Free Equity is defined as:

• The cash balance on the main trading account
• Plus or minus the value of any unrealised profits or losses from open trade exposures CFDs and futures on the main trading account
• Minus the value of Saxo Capital Markets' margin requirements for open trade positions on all accounts. For this purpose, i.e. for the purpose of calculating "Net Free Equity" for interest calculation, margin requirements range between 2% to 12% for FX positions and 5% to 25% for CFD positions depending on the FX pairs and CFD assets held by client.

Account Value

Account Value is defined as:

• The cash balance on the individual sub-account
• Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs, and futures on the sub-account. 

• Interest will not be paid on Net Free Equity up to USD 15,000 (or the currency equivalent)
• For positive Net Free Equity exceeding USD 15,000 - interest will be paid at market bid rates minus 3% on the full amount
• For negative Net Free Equity - interest will be charged at market ask rates plus 8%

Institutional Interest rates

The following interest rates apply to funds deposited with Saxo Capital Markets:

• For positive Net Free Equity interest will be paid at LIBID minus 1% on the full amount for all Account Values
• For negative Net Free Equity interest will be charged at LIBOR plus 8% on the full amount for all Account Values.