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LavenderBlue

21 Mar 2021

∙

General Investing

Is it true that Saxo has many hidden fees?

Checking out Saxo’s fees for Options Trading and the Stock Options commissions are USD 3 for ‘Classic’.

Then Im directed to this page for General fees and there seem to be a few other fees that are incorporated: https://www.home.saxo/en-sg/rates-and-condition...

Can someone who has traded with Saxo pls type out the exact fees I will be charged for an Option trade for me to understand in simple terms pls.

For eg,

1 contract - USD 3 + GST 7% + etc etc

3

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Chris

21 Mar 2021

Owner and Writer at Tortoisemoney.com

Instead of computing these fees, which I'm sure are plenty (SAXO isn't known for great fees tbh), why not I propose an alternative?

SAXO's options commissions alone are already at USD3 (Classic) and 1.25 (VIP). Let's look at some better alternatives:

IBKR: 0.65USD/contract

TD Ameritrade: 0.65USD/contract

Tiger Brokers: 0.95USD/contract

And the best part is, these aren't even lousy brokers. They all have great FX rates (spot or close) and great comms for stock purchase/sale too. Do consider one of these instead of SAXO for options trading.

Source: I trade options on IBKR.

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Does saxo have service fee, holding fee and custody fee for ETFs?

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