These commissions are for each contract and for each trade (buy or sell) and exclude exchange fees which are listed under the contract specifications.

Contract currencyCommission per lotMinimum commission
AUD 4 09:00-17:35
CAD 4 09:00-17:35
BRL (Full) 4 08:00-16:30
BRL (Mini) 4 08:50-15:40
CHF 4 09:30-16:00
EUR (offline) 4 09:30-16:00
EUR (online) 4 09:00-17:30
GBP 4 09:00-16:20
HKD 4 09:00-17:06
JPY 4 09:00-17:35
SEK 4 09:00-17:30
SGD 4 09:00-17:30
USD (offline) 4 09:30-16:00
USD (online) 6 10:00-16:12

Support for Stop and Stop Limit orders

Stop and stop-limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the pop-up details for each contract.

Initial margin

The initial margins listed below are the collateral per contract that clients must have in their account to open a position.

Maintenance margin

Futures contracts are traded on margin enabling clients to leverage a small margin deposit for a much greater market effect.

Clients must maintain the Maintenance Margins listed per contract in their account at all times. If the funds in an account fall below this margin, clients will be subject to a margin call to either deposit more funds to cover positions or close positions — normally clients will be notified through our trading platform and via e-mail. If the margin situation is not remedied, Saxo Bank may close positions on a client’s behalf.

Partial Fills

Partial fills may occur on limit orders and the remaining amount stays in the market as a limit order and may be filled within the order duration.

Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

Special conditions for SFE Futures Contracts

Orders Market

Orders Market Orders are NOT accepted on all contracts. Please use limit orders to hit the bid/offer.

Limit Orders

A BUY Limit Order cannot be higher than the current offer and a SELL Limit Order cannot be lower than the current bid. If the market is moving at or around the time at which the order is placed, this order may be rejected by the exchange. Please repeat the process of placing the order again.

Stop Limit Orders

Stop Orders without Limits are not accepted on the platform.

The limit price specified within a Stop Limit Order cannot be more than three ticks from the trigger price.

In case of an order that was placed where the limit price is greater than 3 ticks from the trigger price, the order will appear as being accepted by the platform. However, please note that upon the trigger price being touched/breached, the order will NOT be executed. In such cases, the order will be removed from the system afterwards.

Expiry of Futures Contracts

Saxo Bank does not support physical delivery of the underlying security on expiry of a futures contract. Therefore, Saxo Bank advises clients take note of the expiry and first notice dates (FND) of any futures contracts in which they have positions and ensure they are closed before the appropriate day, as described below. If the FND is before the expiry date, positions need to be closed the day before the FND. If the expiry date is before the FND positions need to be closed no later than on the expiry date.

If futures positions are not closed before the relevant date, Saxo Bank will close the position on the client's behalf at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to the client.

If clients require any assistance or clarification regarding the expiry of futures contracts, please contact Saxo Bank.

If clients require any assistance or clarification regarding the expiry of futures contracts, please contact Saxo Bank.

Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 17:00 New York time, plus/minus 0.5%.

A Link to Online Contract and Offline Contracts

TD Derivatives Trading is provided by Saxo Bank SA (Saxo), who is a provider of derivatives trading and whose head and registered office is Saxo Bank, Philip Heymans Alle 15, 2900 Hellerup, Denmark. For the purposes of derivatives trading, any contract is between you and Saxo and all dealing, administration and settlement is carried out by them. Your account is held with Saxo Bank SA, which is incorporated in Denmark as a licensed bank (license no. 1149) and is regulated - along with Saxo Bank A/S London - by the Danish Financial Supervisory Authority (FSA) - Finanstilsynet, Gl. Kongevej 74A, 1850 Frederiksberg C. Further details regarding the Danish FSA and Saxo Bank's license may be viewed at