Brokers Invest

Does Saxo Singapore Have An Inactivity Fee?

Does Saxo Singapore Charge An Inactivity Fee

Last updated on June 6th, 2021

When you are searching for the fee schedule for Saxo, you may have come across the inactivity fee.

The information may be a bit conflicting, depending on the sources that you’re looking at.

So here is an explanation to clarify this issue for you.

Am I charged an inactivity fee by Saxo Singapore?

You are not charged an inactivity fee by Saxo Singapore. The inactivity fee only applies to Saxo Bank. Saxo is operating in Singapore as Saxo Markets, which is a subsidiary of Saxo Bank. As such, you will not be charged any inactivity fees if you use Saxo in Singapore.

The inactivity fee applies to Saxo Bank

You may have clicked the link to Saxo Bank. As such, you may have seen that Saxo will charge you up to USD 150 if you do not make a trade for 6 consecutive months.

However, this only applies to Saxo Bank, and not Saxo Markets, which operates in Singapore!

To clarify this point further, you can compare the fee schedule for Saxo Bank with Saxo Markets.

Under the fee schedule for Saxo Bank, there is an inactivity fee section.

Saxo Bank Inactivity Fee Schedule

However, this can’t be found under the fee schedule for Saxo Markets.

Saxo Markets No Inactivity Fee Schdule

Saxo support has clarified that there is no inactivity fee

I have written in to Saxo’s support to clarify this issue. One of the support staff has further confirmed that there is no inactivity fee being charged!

Saxo Support Markets No Inactivity Fee

Conclusion

You may be confused over the inactivity fee being charged. This is because Saxo Bank charges an inactivity fee, but Saxo Markets does not.

As such, you do not need to worry about the inactivity fee if you’re using Saxo Markets in Singapore!

👉🏻 Referral Deals

If you are interested in signing up for any of the products mentioned above, you can check them out below!

Saxo Referral (Earn $100-$250 in cash)

If you are interested in creating a Saxo trading account, you can take part in the referral program.

Here’s are the rewards that you can receive from this program:

ActionReward
Fund ≥ SGD $3,000 and
make ≥ 3 qualifying trades
SGD $100
Fund ≥ SGD $100,000 and
make ≥ 3 qualifying trades
SGD $250

The 3 qualifying trades that you need to make have to be on margin products, such as:

  1. CFDs
  2. FX
  3. Futures / Forwards
  4. Options

The process is quite different from other referral programmes, so you can contact me for the next steps for the referral!

You can find out more about the referral program on Saxo’s website.


undraw pcsocial 16rw

Do you like the content on this blog?

To receive the latest updates from my blog and personal finance in general, you can follow me on Telegram and Facebook.

Are you passionate about personal finance and want to earn some flexible income?

You Might Also Like

    Total
    0
    Share