Commissions, Charges and Margins Schedule

Minimum account size

3,000 SGD for a private Saxo MiniTrader account.
15,000 SGD for a SaxoTrader account

Interest on funds deposited with Saxo Capital Markets

Interest on your main account is calculated on the Net Free Equity and interest on your sub-accounts is calculated on the Account Value.

However since the Net Free Equity is calculated on open trade positions on all your accounts it is important to make sure that sufficient cash is available on your main account. Otherwise you risk being subject to a debit interest on your main account exceeding the credit interest payable on your sub-account(s).

Net Free Equity is defined as:

• The cash balance held on a trading account
• Minus the value of Saxo Capital Markets's margin requirements for any open trade positions. For this purpose, margin requirements are a flat 2% for all FX positions and a flat 10% for all CFD positions
• Plus or minus the value of any unrealised profits or losses from open trade exposures in FX OTC Options, CFDs, futures, sold exchange traded options

Interest will be calculated on the basis of the Net Free Equity on each individual account or sub-account and will be calculated daily and settled monthly - within 7 business days after the end of each calendar month.

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, futures and sold exchange traded options on the sub-account

Interest rates

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

• interest will not be paid on Net Free Equity/Account Value up to USD 15,000 (or the currency equivalent)
• for positive Net Free Equity/Account Value exceeding USD 15,000 up to USD 100,000 - interest will be paid at LIBID minus 3% on the full amount
• for positive Net Free Equity/Account Value exceeding USD 100,000 - interest will be paid at LIBID minus 2% on the full amount
• for negative Net Free Equity/Account Value - interest will be charged at LIBOR plus 3%

Withholding tax in interest:

For any interest paid to a non resident of Singapore, which are sourced in Singapore or deemed to be sourced in Singapore, Saxo Capital Markets Pte. Ltd. is required to withhold tax from the relevant payments and pay the tax withheld to the Comptroller of Singapore. The withholding tax rate will be at the at all times applicable rate, currently 15%