Saxo Spread Betting
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Saxo Spread Betting
Trading / By
Richard Berry
/ 7th April 2015 25th August 2022
Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.
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Saxo, is one of the largest CFD brokers worldwide and provides direct market access to equities, bonds, futures and options as well as being one of the a largest forex providers via their own platform. The Saxo spread betting services was a white label of the London Capital Group platform, whose own brand is Capital Spreads.
The news comes after there have been significant changes at London Capital Group with a reported 75% staff turnover since Charles-Henri Sabet took the reigns and focusses on building the spread betting and forex broker back to profitability.
There is also a significant amount more competition in the spread betting industry that in 2009 when Saxo launched the service. Increased competition and a decline in active spread betting clients may lead to more consolidation in the sector . This may include more white label contracts being cancelled (like City Spreads, another LCG white label) or acquisitions (like City Index by Gain Capital or Cantor Index to Spreadex ).
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ALL INVESTING INVOLVES RISK. Investing, Derivatives, Spread betting and CFD trading carry a high level of risk to your capital and can result in losses that exceed your initial deposit. They may not be suitable for everyone, so please ensure that you fully understand the risks involved.
ESMA & FCA Risk Warning – “CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 68-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Capital at risk”
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Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital.
It is really important that you do not trade any money that you can’t afford to lose because regardless of how much research you have done, or how confident you are in your trade, there will always be a time that you lose.
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Home » Broker » Fees and Spreads » Saxo Bank Fees and Spreads
Rated #60 of Recommended FX Brokers
Saxo Bank commissions are charged, depending on the financial instrument traded, with spreads from 0.6 pips. Saxo Bank does not charge deposit fees or withdrawal fees. Saxo Bank also charges an inactive fee of $100.
Finding a reputable list about Saxo Bank Fees and Spreads local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.
Below is an in-depth Fees and Spreads review regarding this regulated Forex Company, which will assist traders and allow traders to invest in their currency.
Saxo Bank’s spreads start from 0.6 pips EUR/USD.
Both the spread list and the commissions that Saxo Bank charges are transparent and detailed for each account as well as a trading instrument. Spreads that traders can expect are as follows:
The following commissions are charged, depending on the financial instrument traded:
When trading financial instruments such as forex, traders can often expect that overnight fees or swap fees will be charged when positions are held for longer than a trading day.
Saxo Bank does not offer the option for an Islamic Account. In addition, traders must familiarize themselves with the various margin requirements before they enter into a position.
Saxo Bank does not offer spread betting and thus spread betting fees do not apply.
Rated #60 of Recommended FX Brokers
Saxo Bank does not charge deposit fees or withdrawal fees. There are, however, numerous other fees that traders must take note of such as:
You might also like: Saxo Bank Demo Account
You might also like: Saxo Bank Account types
You can trade the following financial instruments:
Yes. Traders have access to leverage up to 1:66.
You can expect spreads that start from 0.6 pips EUR/USD on the VIP Account.
Yes. Depending on the trading account the trader uses, and the financial instrument traded, traders will be subjected to the following commissions:
Yes. Saxo Bank is regulated by FSA, FCA, MAS, FINMA, FSA, SFC, and ASIC.
No. Saxo Bank only caters to traders who are advanced or professional traders.
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Competitive spreads and commissions
Deposit fees and withdrawal fees are not charged
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Saxo Bank Migrates Its Spread Bet Offering over to Capital Spreads, LCG
Friday, 20/03/2015 | 19:58 GMT
by
Adil Siddiqui
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Saxo Spreads, the firm’s spread betting division, issued a notification to clients today informing them that it was withdrawing its services and migrating the business over to Capital Spreads. Saxo entered the space in 2009 after financial markets benefited from a post-2008 recession boost in volumes. However, with an overall decline in the number of active traders in the region, the firm has decided to withdraw its service.
Saxo Bank was unavailable for comment.
In the note the firm stated: “From 28th March 2015 your Saxo Spreads account will move to Capital Spreads.”
The firm’s website has not been updated and still displays the Saxo Spreads brand, however, upon applying for a new account the page redirects to the Capital Spreads website.
The firm was using services provided by spread betting specialist, London Capital Group, under the Capital Spreads brand, a trading name of LCG. Clients have been advised on how they can continue to use the services offered by Capital Spreads, however an option to close the account has also been provided. The email was sent by James Watts, Head of Partnerships.
Saxo entered the market in 2009, according to the FCA register it received its appointed representative license under the banner of LCG on the 29th of January, 2009. The firm offered a range of instruments including, rolling and futures stock indices, commodities, bonds, single stocks and FX. The firm offered competitive pricing on instruments, with spreads on the FTSE quoted as 1 pip, during UK trading hours.
Saxo Bank was the latest provider to issue its annual earnings data , the firm like its peers, showed positive earnings for the year-end 2014 with both net profits and client deposits, in the green. In its annual report, the firm commented on its futures, plans among other topics, it said: “Saxo Bank expects to continue the on-going development of its traditional trading business. The focus remains on clients, efficiency, profitability and optimisation of the entire value chain.
With a close eye on overall cost development, Saxo Bank will continue its investments in products and platforms. At the same time, system enhancements and knowledge upgrades are expected within the Bank’s core business areas.”
Spread betting, a subset of derivatives trading offers UK-based traders a tax-free solution to profits they earn during trading , however, profits can only be claimed if the trader has an existing income and spread betting is not his main source of income. On the other hand, brokers who earn funds (client losses) need to submit a general betting duty (return) to the government equating to 3%.
The number of traditional FX and CFD providers that entered the spread betting space has increased over the last 3 years, in 2013, Inter Trader joined providers offering the UK-centric product. At the same time, Cantor Index reported that it had withdrawn its service and sold its client base to Spreadex.
Saxo Spreads, the firm’s spread betting division, issued a notification to clients today informing them that it was withdrawing its services and migrating the business over to Capital Spreads. Saxo entered the space in 2009 after financial markets benefited from a post-2008 recession boost in volumes. However, with an overall decline in the number of active traders in the region, the firm has decided to withdraw its service.
Saxo Bank was unavailable for comment.
In the note the firm stated: “From 28th March 2015 your Saxo Spreads account will move to Capital Spreads.”
The firm’s website has not been updated and still displays the Saxo Spreads brand, however, upon applying for a new account the page redirects to the Capital Spreads website.
The firm was using services provided by spread betting specialist, London Capital Group, under the Capital Spreads brand, a trading name of LCG. Clients have been advised on how they can continue to use the services offered by Capital Spreads, however an option to close the account has also been provided. The email was sent by James Watts, Head of Partnerships.
Saxo entered the market in 2009, according to the FCA register it received its appointed representative license under the banner of LCG on the 29th of January, 2009. The firm offered a range of instruments including, rolling and futures stock indices, commodities, bonds, single stocks and FX. The firm offered competitive pricing on instruments, with spreads on the FTSE quoted as 1 pip, during UK trading hours.
Saxo Bank was the latest provider to issue its annual earnings data , the firm like its peers, showed positive earnings for the year-end 2014 with both net profits and client deposits, in the green. In its annual report, the firm commented on its futures, plans among other topics, it said: “Saxo Bank expects to continue the on-going development of its traditional trading business. The focus remains on clients, efficiency, profitability and optimisation of the entire value chain.
With a close eye on overall cost development, Saxo Bank will continue its investments in products and platforms. At the same time, system enhancements and knowledge upgrades are expected within the Bank’s core business areas.”
Spread betting, a subset of derivatives trading offers UK-based traders a tax-free solution to profits they earn during trading , however, profits can only be claimed if the trader has an existing income and spread betting is not his main source of income. On the other hand, brokers who earn funds (client losses) need to submit a general betting duty (return) to the government equating to 3%.
The number of traditional FX and CFD providers that entered the spread betting space has increased over the last 3 years, in 2013, Inter Trader joined providers offering the UK-centric product. At the same time, Cantor Index reported that it had withdrawn its service and sold its client base to Spreadex.
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