Saxo inactivity fee in July

T

TomOC

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I was just talking with Saxo. They were saying their £25 sterling inactivity fee came in last year for directly held accounts. For the accounts that transferred from sharewatch (from FXCM) this charge will begin in July 14. It will be charged quarterly for inactive accounts irrespective of shares held. I will have had this account with Saxo over a year and a half since FXCM started this charge.
 
NewEdition said:
Right, but over what period of time. Is it that you have to do 4 trades a year or something?
Click to expand...

Yes 4 trades per year to remain inactivity fee free, One in each of; July to September, October to December, Jan to March and April to June
 
Quote from email I received.
There is now a new fee with Saxo- a custody fee- It looks to be on top of the inactivity fee. Also they are only giving 2 weeks notice. This fee is 60 per annum (charged monthly). The inactivity fee is 25 Euro per quarter if you are not actively trading.

IMPORTANT INFORMATION
Saxo Capital Markets introduces custody fee from 1st January 2015

On 1st January 2015, Saxo Capital Markets will be introducing a new custody fee on stock and ETF/ETC positions. A fee of 0.12% p.a. will be charged on your account, with a minimum monthly fee of EUR 5 (or your account currency equivalent).

Please note that with respect to bonds, the existing custody fee will change to 0.12%, which is an increase for most currency denominations, and the method of calculation will change to fall in line with stocks and ETFs/ETCs.

The fees will be calculated daily, but debited from your cash balance on a monthly basis.

Product held Custody fee per annum Monthly minimum fee
Stocks,
ETFs/ETCs and Bonds 0.12% EUR 5 (or your account currency equivalent)
 
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