Trade with a Market Leader: Forex at Saxo Bank
Thousands of traders in more than 180 countries prefer Saxo Bank for online Forex trading. They’ve helped fuel our growth into one of the largest online retail FX brokers in the industry.
Today, our services meet the needs of a broad range of clients from novice to professional traders, and from small hedge funds to some of the world’s largest financial institutions. The currency market is huge with an estimated USD 5.3 trillion traded every day. Far larger than both the Stock and Futures markets combined, there are many reasons to trade the Forex markets with Saxo Bank, including:
- Extensive FX product coverage. Saxo Bank offers over 184 Forex currency crosses. Trade FX on Spot, Forward Outrights, Vanilla Options, Touch Options and more.
- Dedicated liquidity. All clients have dedicated liquidity - in EURUSD up to EUR 25,000,000; and it’s easy to Request for a Quote for larger amounts.
- Transparent pricing and order execution. We provide complete transparency to our competitive spread and we are proud to show our superior order execution statistics.
- Client choice of liquidity provisioning: Saxo Bank’s quality pricing and execution or STP No Dealing Desk (NDD) execution with Direct Market Access (DMA). Learn more about the differences between NDD/DMA and Saxo liquidity.
- Low margin requirements. Only 0.5% margin on majors for up to EUR 300,000 in margin collateral (1% on larger amounts).
- Award winning platform. No other online Forex trading provider has won as many industry awards for their online FX offering as Saxo Bank.
Trade Precious Metals online with Saxo Bank
Saxo Bank offers an impressive 19 FX crosses in precious metals. Gold, Silver, Platinum and Palladium are available as spot traded commodities, ideal for both long and short-term speculative trading.
Spot Gold and Silver can among others be traded versus US Dollar, Euro, Japanese Yen, Australian Dollar and Hong Kong Dollar. Platinum and Palladium both trade against the US Dollar.
Consider the power of precious metals trading to:
- Diversify an existing FX portfolio
- Trade long or short on live streaming prices
- Leverage your investment up to 50 times
- Trade from 1 ounce an up with all advance order types available
See a full list of our competitive Spot Metals Spreads.
See all Spot Metals Trading Conditions.
Trading Forward Outrights online with Saxo Bank
Saxo Bank offers FX Forward Outrights for the purchase or sale of currencies at a fixed settlement date in the future. Most Forex Spot crosses are available as Forward Outrights with live tradable prices available throughout Saxo Bank platforms.
What is a FX Forward Outright?
Forex Forward Outrights enables investors to take advantage of the interest rate differentials between two currencies, and to hedge foreign exchange exposure risks. By purchasing a currency for a future value date at a fixed price now, using a Forward Outright, individuals can avoid risky exposure to fluctuations in the exchange rate.
With online Forward Outrights, traders can:
- Hedge commercial risks to offset exchange rate fluctuations for a foreign currency transaction at some date in the future.
- Take advantage of interest rate differentials between two currencies.
- Access a wide range of Forward Outrights on live tradable prices available throughout Saxo Bank platforms.
- Select any value date up to twelve months (forward/ahead) (including broken dates).
- Trade Forward Outrights from the same trade module as spot by simply changing the value date to the desired date.
Trading Interest Rate Differentials
Forward Outright trading allows individuals to take advantage of interest rate differentials between two currencies. For example, when trading USDCHF as a Forward Outright, traders are effectively speculating on four rates: USD interest rate, CHF interest rate, USDCHF spot rate, and the USDCHF forward rate – the rate used to determine the current price for the future dated Forex transaction.
Hedging Exchange Rate Risks Companies that deal internationally can experience volatility in Forex markets, which in turn can cause major uncertainties for profits and capital. Forward Outrights can help mitigate these risks by enabling businesses to hedge foreign currency transactions for a future date at a Swap point agreed now – thus neutralising exchange rate fluctuations.
Trading Forex. Trading Ideas.
Take full advantage of a wide range of free tools and widgets. We provide what’s needed to take FX trading to the next level. Trade like a pro, using the tools of a pro.
- Saxo Bank provides a constant vantage point on the market. Our FX Open Positions and FX Open Orders widget shows where the market activity is, such as whether other traders are long or short in EURUSD.
- The FX Correlations tool is perfectly suited to analysing real price correlation data between currencies. As an added advantage, we have combined this data with the Open Positions data to show how currency prices correlate with actual positions.
- The connection between the FX spot market and the FX options market can be underestimated. Saxo Bank is a leading market maker in the FX Options interbank market. We are therefore able to give you a head start in the FX market, by providing you with insights to Market Pin Risk, Implied vs. Historic volatility, Risk reversals and even retail long/short positions ratios. See introduction to all the FX Options Analytics.
- Saxo Bank's Trading Strategy Team provides daily FX market updates in their blog on Tradingfloor.com. Join a community of like-minded traders, featuring an up to date, relevant financial blog written by trading specialists.
- TradeMentor is Saxo Bank's educational programme designed to provide a thorough introduction to FX trading. To maximise the trading experience, we have created videos with tips and tricks on how to take full advantage of our platform.
What is Forex trading?
Forex trades include a combination of two currencies (called a cross or currency pair) in which one currency is bought (long) and the other is sold (short).
A trader speculates on the prospect of one of the currencies appreciating in value in relation to the other. A successful trade correctly anticipates the fluctuation in exchange rate between the currencies.
Forex is traded on margin
The industry practice is to trade FX with leverage (compared to e.g. Stock trading) as currency exchange rate fluctuations tend to be relatively small even on volatile days. When opening a position the trader only places a small amount (called "margin") of the total nominal value of the position. Margin trading allows traders to buy and sell positions that have a greater value than the capital in their account.
Margin Trading carries a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all traders. Ensure you fully understand the risks involved and seek independent advice if necessary. Please also refer to Saxo Bank's Risk Warning.
Trade with a market leader
Since 1992 Saxo Bank has been one of the leaders in online FX trading and today we are now one of the world’s largest FX houses. We attribute this success to our continued effort in providing state of the art trading platforms, world class execution, dedicated liquidity and transparent pricing. Read more about why you should trade FX with Saxo Bank.