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    FX Choice Accounts

    The FX Choice account employs a fee based trading model to enable traders to benefit from tight Interbank spreads.

    FX Choice from Saxo Bank – Tight Interbank Pricing for FX Spot Traders


    Saxo Bank’s FX Choice Account enables clients to benefit from tight interbank spreads.  Many brokers reserve this kind of commission based pricing system for only a select few clients; at Saxo Bank, our FX Choice Account opens up fee based Forex Spot trading at the narrowest spreads to all traders with a qualifying account.

    With post trade fees starting from USD 50 for every 1,000,000 currency units traded, the FX Choice Account offers additional flexibility for those interested in trading Forex.  Fees can be even lower for clients who trade larger monthly volumes.  Available to clients with a deposit of USD 25,000, the FX Choice  Account offers a number of trading benefits for those engaging the Forex market.

    Benefits of Saxo Bank’s FX Choice Account

    • Trade over 145 Forex crosses, including Gold and Silver.
    • Spreads as low as Zero*. During periods of strong liquidity, spreads will be tight - as low as zero spread.
    • Trading fees diminish as the trading volumes increase.
    • Trading on margin; enjoy leverage of up to 200 times the value of your account.
    • Full compatibility with Saxo Bank’s suite of online trading platforms; the SaxoTrader, the SaxoWebTrader and the SaxoMobileTrader.
    • An evolving account; with several additional features on the horizon, the FX Choice Account will continue to place you in control of your trades.

    Choosing FX Choice

    Saxo Bank will endeavour to provide the tightest bid offer spreads possible (see Typical Spreads below).  Rather than seeking to maintain a 'Target Spread', with FX Choice spreads widen and narrow with movements in the market.  That means that with FX Choice, these spreads can be as low as Zero*.

    Typical Spreads and Commissions for the FX Choice Account


    Pair 

     Typical Spread*

    Pair 

     Typical Spread*

    EURUSD 

    0.6

    GBPUSD

     2.0

    USDJPY

    0.6

    EURGBP

     1.5

    EURJPY

    1.5

    USDCHF

     1.5

    AUDUSD 

    1.3

    USDCAD

     2.5

    USDHKD

    1.5

    USDSGD

     2.5

    EURCHF

    1.5

    NZDUSD

     2.5

    AUDJPY

    1.8

    GBPCHF

    4.0

    CADJPY

    2.5

    GBPJPY

    3.5

    CHFJPY

    2.0

    NZDJPY

    3.0

    *Saxo Bank always strives to provide the tightest bid offer spreads possible, even to a Zero spread.  The Typical Spreads shown here are given as a general indication of what is seen in periods of normal liquidity.  Market conditions will cause spreads to widen and narrow around the Typical Spreads.

    An FX Choice Example


    You buy EURUSD 1,000,000.

     

    Saxo Target Spreads 

    FX Choice Accounts 

    EURUSD Spread:

     2 Pips

    0.6 Pips

    Round trip cost of trade in Spread:

    USD 200

    USD 60

    Round trip cost of trade in Fees:

    -

    USD 100 (50 x 2)

    Transaction Cost:

    USD 200

    USD 160

    FX Choice Fees


    For an example of fees paid when using an FX Choice account, please click here.

    Margin Trading carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors.  Ensure you fully understand the risks involved and seek independent advice if necessary.