Our cash rebates are simple and transparent. When you trade above the notional trading volume threshold, you will automatically earn cash rebates. These will be credited to your account within the first five business days of the following month.

Rebates are earnt on each USD 1M in notional value traded above the thresholds in FX. For the purposes of calculating rebates, the notional values are rounded up or down to the nearest USD 1M.

All direct clients – retail and corporate who trade above the thresholds shown above, are automatically eligible to earn cash rebates.

No action is required by you.

Rebates are earnt based on the notional value of FX traded throughout a calendar month. They are then calculated at the end of the month, and credited to your account within the first five business days of the following month.

1) Saxo will award cash rebates (“Cash Rebates”) to a Client with reference to the actual notional value of the Client’s trades that exceed the prescribed minimum notional value (“Minimum Volume”) on a calendar month basis. The Cash Rebate will not directly increase or decrease any fees, commissions, spreads or other charges applied by Saxo toward the Client.

2) For the purpose of assessing the Cash Rebate to be awarded, Saxo will:

1. Only consider trade orders which have been filled as a trade;
2. Assess the actual notional value of trades made by the Client across all Accounts of the Client and in doing so, apply a currency conversion rate as Saxo reasonably determines;
3. Round up or round down the actual notional value of the Eligible Instruments traded by the Client to the nearest USD 1 million; and
4. Assess the actual notional value of trades made by the Client at the end of each calendar month.

3) The amount of Cash Rebate to be awarded to a Client is dependent on the Client’s account tier. The amount of Cash Rebate to be awarded for trades on Eligible Instruments and the applicable Minimum Volume will be published on Saxo’s Website.

4) When awarding Cash Rebates to a Client, Saxo will:

1. Credit such Cash Rebates to the Account designated as the main trading account of the Client during the following calendar month; and
2. If the main trading account of the Client is not denominated in USD, convert the Cash Rebate into the currency of the main trading account at such conversion rate as Saxo reasonably determines.

5) Saxo reserves the right to determine at its sole and absolute discretion all matters arising out of or in connection with Cash Rebates, including eligibility and the applicable criteria. Saxo’s determination of all matters relating to Cash Rebates shall be final and conclusive.

6) Saxo reserves the right, and has sole and absolute discretion, to prohibit any Client from being eligible for Cash Rebates, from utilising Cash Rebates, and to revoke any Cash Rebates, in the event that Saxo determines, at its sole and absolute discretion, that these Terms have not been complied with, including but not limited to the following:

1. where the Client has acted fraudulently or dishonestly;
2. where the Client has conducted himself/herself in bad faith or otherwise in an inappropriate manner to gain an unfair advantage against Saxo; and/or
3. where the Client has acted in a manner which is generally inconsistent with the intended operation of the granting and use of Cash Rebates.

In such event, the Client shall not be entitled to any payment or compensation from Saxo.

7) All capitalised terms not defined above shall have the same meanings as defined in the General Business Terms.