HawkInsight

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Common Problem

Q

How to ensure the safety of my funds? ——SAXO

A
As we are regulated and authorized by the UK Financial Services Authority (FSA), the Danish Guarantee Fund will provide you with a guarantee of up to € 100,000 when you deposit cash into your Saxo account.
Q

SAXO: How to open an account?

A
Opening a Saxo account is easy and quick: just fill out a simple online form and verify your identity.
Q

SAXO: Can I hold multiple currencies in my Saxo account?

A
You can make deposits and deposits to your Saxo account in 18 different currencies.
Q

SAXO: What markets can I visit?

A
You can use your Saxo account to access more than 71,000 financial products across asset classes, including foreign exchange, CFDs, ETFs, stocks, bonds, and more.
Q

SAXO: How to transfer stocks to Saxo?

A
After opening an account, you can transfer your existing stock investment portfolio to Saxo. Log in to the platform, go to the "Accounts" section, select "Deposits and Transfer", and then select "Portfolio Transfer".
Q

Termination account management fee——SAXO

A
If a customer fails to withdraw all assets and/or cash in the account by the termination date (specified by Saxo), an account management fee of € 100 (or equivalent in the account currency) may be charged on the termination date. This fee is only charged when your account balance is positive and will not cause your account balance to be negative.
Q

Increase the cost of financial products on the platform——SAXO

A
For ordinary users and platinum users, a fee of US$200 will be charged for each additional financial product.VIP users can apply to add these financial products for free.We will not charge you until financial products are successfully added.Please go to the "Account" column of the platform and select "Saxo Reward Plan" to check your account level.
Q

Proxy voting service fee——SAXO

A
Proxy voting service fees will be charged to customers who subscribe to Saxo Bank's conference services.In addition, a per-vote fee will be charged for each vote or change of vote.
Q

Reporting fee——SAXO

A
We will charge US$50 (or the equivalent) per request for account report delivery or mail delivery.This fee also applies to third parties applying for the service, such as auditors.
Q

Manual order fee——SAXO

A
Customers who place orders via phone, chat or email will have to pay a manual ordering fee of € 50 per order. Certain products that cannot be traded on the platform are exempt from this fee.
Q

Hosting Fees——SAXO

A
Custody fees for stocks, ETF/ETC and bonds are calculated based on daily closing prices and charged monthly, subject to regional variations. The annual custodian fee is 0.12% for Classic accounts and 0% for Platinum and VIP accounts, custodian fees are deducted as a VAT item. Natural persons residing in the EU are charged 25% Danish VAT, not outside the EU. For corporate/institutional clients, 25% Danish VAT is charged at the place of business in Denmark, within the EU (except Denmark) if there is a valid EU VAT account number, but not if there is not. For locations outside the EU, Saxo Group does not normally charge VAT, but may charge local VAT. The European Commission website is required to verify the validity of the account.
Q

currency exchange fee——SAXO

A
When the currency of the trading product is different from your account currency, we will execute it based on the foreign exchange spot middle price ±0.25% when you close the position. Currency conversion fees are not applicable to margin collateral.Only includes actual payment settlements received or paid out by the trading account, such as buying/selling cash stocks, paying/receiving options fees, etc. The currency exchange rate for the booked amount is displayed in the trading platform's "Executed Transactions" report.
Q

Benchmark Interest Rate——SAXO

A
Saxo's Buy/Sell Rate is Saxo's exclusive interest rate and is subject to the General Commercial Terms.One of the provisions deals with cost transfers related to external factors, such as changes in domestic and foreign monetary or credit policies that affect general interest levels, or changes in the cost structures of liquidity providers and brokers.When setting Saxo's buy/sell exchange rates, we usually use the Alternative Reference Exchange Rate (ARR) as input. For certain currencies, money market interest rates, monetary policy rates or other relevant financial benchmarks can be used as inputs.The following table lists the benchmark interest rates used to set deposit rates and margin product financing rates.Saxo reserves the right to use a disclosure lag on financial benchmarks when calculating and recording unrealized and realized interest.
Q

Financing interest rate for margin products——SAXO

A
To achieve your financial ambitions and trading goals, we provide funding and liquidity for your margin product trading activities.When you hold an open position in overnight margin products, such as contracts for difference (CFD) on a single stock, our financing rate applies. Your financing rate consists of two components: 1) Saxo's bid or offer financing rate and 2) commercial product mark-up/price reduction. The financing interest rate is set as follows: Buy price = Saxo Buy price financing rate-price reduction for commercial products Selling price = Saxo selling price financing interest rate + commercial product markup
Q

Deposit interest——SAXO

A
Interest on your main account is calculated based on your net asset value (NFE), which is your cash balance plus/minus any NFE adjustments.If you have multiple sub-accounts in different currencies, interest on those sub-accounts is calculated based on the adjusted account value of each sub-account. Settlement interest is calculated daily and settled within seven working days after the end of each calendar month. Interest is calculated based on the day conventions and market standards listed in Saxo's Buy/Sell Rate Table. Please click on the title for details.