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CFD financing relates to the cost associated with holding a CFD position open overnight. CFD positions closed within the same trading day will therefore not incur this charge. It should be noted that for short positions the CFD financing will only be a credit if the financing benchmark bid minus the client’s markdown is positive.
Conversely, if you have a short position, you are credited/paid interest. If the position is held overnight, a borrowing cost will be applied to your short Cash Stock CFD positions. This borrowing cost is dependent on the liquidity of the stocks and may be zero (0) for high liquidity Stocks. Day trading incurs no financing charges.
The financing charge is a factor of the value of the open position.
Holding Long CFD position after 17:00 EST incurs a financing charge, which is calculated as follows:
Opening Price x No. of CFDs x (Saxo Offer financing rate + markup) x (Day count convention*)
Holding Short CFD position after 17:00 EST creates a financing credit, which is calculated as follows:
Opening Price x No. of CFDs x (Saxo Bid financing rate - markdown) x (Day count convention*)