EQUITY RESEARCH FOR ACTIVE CLIENTS
Saxo Capital Markets` Premium Account and Platinum Account holders can subscribe to our Equity Research module free of charge, regardless of the number of trades placed per month. Open an online trading account with Saxo Markets today for full access.
|
Private Client |
Professional Institutional Client |
|
|
|
| Equity Research |
EUR 1.99 per month
Premium Account and Platinum Account
holders can subscribe to our Equity
Research module free of charge.
|
EUR 200 per month |
FREE CUSTODY FOR STOCK PORTFOLIOS IF YOU execute AT LEAST ONE TRADE PER QUARTER
Saxo Capital Markets Private clients are not charged depository fees unless the account is inactive. In such case the inactivity fee is calculated as 0.5bps (2bps p.a. and min. EUR 5) of the average end month value of the stock portfolio during the quarter. If you make one trade (in any instrument) or more during a quarter no inactivity fee is charged.
*Taxation on UK stocks
For UK stocks, a Panel for Takeovers and Mergers (PTM) Levy and Stamp Duty may be applicable. Stamp Duty is applied on all buy transactions at a rate of 0.5% of the transaction value. A PTM Levy of GBP 1 is applied to buy and sell transactions where the Gross Value of the trade exceeds GBP 10,000.
Please note that for Irish registered stocks, Stamp Duty is 1% of the transaction value.
**Taxation on Singapore stocks
For Singapore stocks, a Clearing Fee of 0.04% is payable, subject to a maximum of SGD 600.
***Taxation on Hong Kong Stocks
For Hong Kong stocks, Stamp Duty and other charges apply: 0.108%Note: Automated trading from 09:30-16:30 with a break between 12:00 - 13:30.
Currency conversions
Currency conversions are done using the close rate at New York (17:00 New York time) plus/minus 0.5%.
Depositary Receipt fees
It is standard practice for US depositary receipts to charge an annual administration fee up to USD 0.05 per share depending on the issuing depositary bank. The intent of the fee is to cover costs for the banks that take on the operational processes necessary to issue and trade the depositary receipt line. Typically the fee is deducted when dividend payments are made, however, in case the depositary receipt does not pay a dividend or did not include the custodial fee in their dividend events, the fee will be administered through fee-only events.
The dividend fee is stipulated in the Deposit Agreement between the depositary bank and the company based upon industry standards. The Deposit Agreement is filed with the SEC and is readily accessible by the public.
The fee per depositary receipt is not dependent on the total amount of dividend being paid but the amount of shares held.
SEC Section 31 Fees for US CFD DMA and Shares
Saxo passes on to clients the SEC Section 31 fee of $22.40 per million (0.224 BP) on US exchange CFD DMA and stock SELL transactions where client orders are entered directly into the underlying market. Regular CFDs are exempt from this charge. This fee applies only to US exchanges.
To read more about Section 31 visit:
http://www.sec.gov/answers/sec31.htm
Split Orders
In case an order regarding a security is split, and filled partially over a period of more than one day, the total trading costs may increase. The reason for such increase is that the minimum fee may be charged more than one time based on the number of days necessary for the total execution of the order.
Dividends from stock positions
Dividend payments from stock positions will be credited to the clients account with any applicable standard withholding taxes deducted. Saxo Capital Markets cannot currently support or offer preferential withholding tax rates that may be available due to residency or legal status.
Corporate actions
For more information on Corporate actions, please read
Corporate Action Calculations.
Market Orders
Certain exchanges* do not support market orders. If clients place a market order in these markets, Saxo Capital Markets will automatically translate the order to an aggressive limit order within a certain percentage limit "in the money"**. It is the clients own responsibility to check if the order is traded in the market after order entry. If clients experience or suspect any errors with their order, they should contact Saxo Capital Markets immediately.
| *Exchange |
**Percentage Limit |
|
|
| American Stock Exchange (AMEX) |
2.50% |
| Australian Stock Exchange (ASX) |
1% |
| Athens Stock Exchange (AT) |
2% |
| Oslo Stock Exchange (OSE) |
2.50% |
| OMX Copenhagen (CSE) |
2.50% |
| OMX Helsinki (HSE) |
2.50% |
| OMX Stockholm (SSE) |
2.50% |
| Singapore Exchange (SGX-ST) |
1% |
Some of our execution brokers may choose to translate market orders on various markets into aggressive limit orders 3% in the money. This is due to their internal compliance and is set to protect clients from "bad Fills". Saxo Capital Markets will not be responsible for missing fills due to this.
Pre-Opening Order Fills in US Markets
In US markets, Saxo Capital Markets consolidates liquidity from a number of sources in addition to the primary exchanges. When there is a delay in the opening of the primary exchange, orders can be filled from these other sources before trading commences on the primary exchange.
Odd Lots in Nordic Markets
Orders traded in the Nordic markets (Denmark, Sweden and Norway) may be split into an "even lot" which will be traded, and a remainder which may be routed to an odd-lot order book. For the parts of an order routed to the odd-lot order book:
- limit orders will be filled if possible or left until a fill is possible
- market orders will be filled immediately if possible, or otherwise cancelled (fill or kill principle).
EXIT FEE
For transfers of shares or a repository to another bank, an exit fee will be charged for all clients. The fees are as follows:
- DK shares: 25 EUR per ISIN (max. 100 EUR)
- Other shares: 50 EUR per ISIN (max. 160 EUR)
Transferring Stock
Saxo Capital Markets only accepts online security transfer requests for stocks and fixed income instruments. To access this module you will need to have a client ID and password. The module is available in the downloadable SaxoTrader platform or the web-based SaxoWebTrader under the menu Accounts. Once you have accessed your account by entering your client ID and password you will be able to access the module to transfer securities from under the menu Accounts. Below you can see where the menu is located in our trading platforms.
The commission and margin rates referred to above may vary from time to time especially for very active or inactive customers. Saxo Capital Markets reserves the right to amend the commission rates, brokerage fees, margin rates and interest rates referred to according to the terms of the trading agreement entered into between Saxo Capital Markets and the Client.