This website can be accessed worldwide however the information on the
website is related to Saxo Bank A/S and is not specific to any entity of
Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and
all client agreements will be entered into with Saxo Bank A/S and thus
governed by Danish Law.
Any fact, assessment, analysis, forecasts, opinion and other information
(collectively “Information”) released by:
- Saxo Bank A/S
- any owner, subsidiary, affiliates or branch office of Saxo Bank A/S,
- any director, officer, employee or representative here
(collectively the “Saxo Bank Group”).
whether provided on the Saxo Bank Group’s websites, on third party
websites, in marketing materials, newsletters, in individual e-mails and
letters, in lectures, individual conversations or in any other form of
written or verbal communication (collectively “Publications”) are provided
for informational and/or marketing purposes only.
Unless specifically stated, no Publication of the Saxo Bank Group should be
construed as an offer (or solicitation of an offer) to:
- buy or sell any currency, product or financial instrument,
- make any investment, or
- participate in any particular trading strategy
Notwithstanding anything to the contrary (not even if specifically stated),
no Publication of the Saxo Bank Group should be construed as an Offer in
any jurisdiction in which such Offer would be illegal. Any such perceived
Offer will not be honoured by the Saxo Bank Group.
No Representation, No Warranty
The Saxo Bank Group uses reasonable efforts to obtain information from
reliable sources, but all Publications are provided on an "as is"
basis without representation or warranty of any kind (neither express nor
implied) and the Saxo Bank Group disclaims liability for any Publication
not being complete, accurate, suitable and relevant for the recipient.
Specifically, the Saxo Bank Group disclaims liability towards any
subscriber, client, partner, supplier, counterparty and other recipients
- the accuracy of any market quotations,
- any delay, inaccuracy, error, interruption or omission in providing
- and any discontinuance of market quotations.
The Publications of the Saxo Bank Group are not updated after their release
and may due to changing circumstances become inaccurate and possibly
misleading after a period of time which may vary from seconds and minutes
to days, weeks and months depending on the Information. The Saxo Bank Group
gives no guarantee against, and assumes no liability towards any recipient
for, a Publication being outdated.
If a Publication becomes outdated the Saxo Bank Group shall be under no
- update the Publication,
- inform the recipients of a Publication, or
- perform any other action.
Any Publication may be personal to the author and may not reflect the
opinion of the Saxo Bank Group. The Saxo Bank Group reserves the right at
its sole discretion to withdraw or amend any Publication or Information
provided at any time without notice (prior or subsequent).
The Saxo Bank Group does not in any of its Publications take into account
any particular recipient’s investment objectives, special investment goals,
financial situation, and specific needs and demands. Therefore, all
Publications of the Saxo Bank Group are, unless otherwise specifically
stated, intended for informational and/or marketing purposes only and
should not be construed as:
- business, financial, investment, hedging, legal, regulatory, tax or
- a recommendation or trading idea, or
- any other type of encouragement to act, invest or divest in a
The Saxo Bank Group shall not be responsible for any loss arising from any
investment based on a perceived Recommendation.
Notwithstanding anything to the contrary (not even if specifically stated),
no Publication (including possible Recommendations) shall be construed as a
representation or warranty (neither express nor implied) that the recipient
will profit from trading in accordance with a trading strategy set forth in
a Publication or that the recipient will not sustain losses from trading in
accordance with a trading strategy set forth in a Publication.
The Saxo Bank Group shall only be liable (in accordance with the
“Limitation of Liability” section below) if a possible Recommendation is
not of a good professional standard.
Trading in the products and services of the Saxo Bank Group may, even if
made in accordance with a Recommendation, result in losses as well as
profits. In particular trading in leveraged products, such as but not
limited to, foreign exchange, derivatives and commodities can be very
speculative and losses and profits may fluctuate both violently and
Speculative trading is not suitable for all investors.
Any mentioning, if any, in a Publication of the risks pertaining to a
particular product or service may not and should neither be construed as a
comprehensive disclosure nor full description of all risks pertaining to
such product or service and the Saxo Bank Group strongly encourages any
recipient considering trading in its products and services to employ and
continuously consult suitable financial advisors prior to the conclusion of
any investment or transaction.
Local regulatory restrictions
The Saxo Bank Group’s Publications may be accessed worldwide. The
Information provided in such Publications is however only intended for use
by recipients located in countries where such use does not constitute a
violation of applicable legislation or regulations. None of the products
and services referred to in the Publications of the Saxo Bank Group are
available to recipients residing in countries where the provision of such
products and services would constitute a violation of mandatory applicable
legislation or regulations.
It is the sole responsibility of any recipient employing or requesting a
product or service of the Saxo Bank Group to comply with all applicable
legislation or regulation.
Use of the website
Any use of the Saxo Bank Group’s websites is subject to Saxo Bank Group’s
as amended from time to time, available at www.saxobank.com/copyright, both of which shall be construed
as constituting an integrated part of this disclaimer.
The Saxo Bank Group shall not be liable for any damage or injury arising
out of any person’s or entity’s access to, or inability to access, any
website of the Saxo Bank Group. This limitation includes, but is not
limited to, any damage to computer equipment and computer systems caused by
virus, malware and any other harmful computer coding.
Consulting a website of the Saxo Bank Group does not constitute a customer
relationship and the Saxo Bank Group shall not have any duty or incur any
liability or responsibility towards any person or entity as a result of
such person or entity consulting a website of the Saxo Bank Group.
Any market data displayed on this Trading Platform may only be used for
your own internal business purposes and only in connection with this
specific service. Distribution of any market data to anyone else is
The Saxo Bank Group offers its Publications in a wide range of languages
for the recipient’s comfort of use. In case of discrepancy between the
original English text and any translation, the original English text shall
All recipients are advised to carefully examine the original English text
before acting upon a translation thereof. Any user who does not fully
understand the original English text is strongly encouraged to contact the
Saxo Bank Group by e-mail at ServiceCenter@Saxobank.com or by telephone at
+45 39 77 40 00.
The Saxo Bank Group shall not be bound by, or liable to any recipient for,
an incomplete or inaccurate translation of an original English text to
When applying for an account with any entity within the Saxo Bank Group,
each applicant will be subject to the relevant set of business terms. All
applicants and clients are deemed to have read and understood the business
terms and related policies applicable to them and their relationship with
the relevant entity of the Saxo Bank Group.
Consulting a website or receiving a Publication of the Saxo Bank Group does
not constitute a customer relationship and the Saxo Bank Group shall not
have any duty or incur any liability or responsibility towards any person
or entity as a result thereof.
Third party services
Persons or entities not belonging to the Saxo Bank Group may advertise on
the Saxo Bank Group’s websites, through links, banners or otherwise. The
Saxo Bank Group shall not be held responsible or liable for the offerings,
information or acts of any such third party. If a user of the Saxo Bank
Group’s websites decides to act upon any such advertising, such user does
so entirely at its own risk.
Limitation of Liability
If the Saxo Bank Group at any time and for any reason, should become liable
for the loss of any person and/or entity, including without limitation, if
any provision of this disclaimer is, or at any time becomes to any extent
or in any circumstances invalid, illegal or unenforceable for any reason,
the liability of the Saxo Bank Group shall be limited to such person’s
and/or entity’s duly documented direct loss, which for the avoidance of
doubt, and without limitation, shall not include damages for any incidental
and consequential losses, damages for lost opportunity, damages for lost
profit, statutory damages, nominal damages, punitive damages,
restitutionary or disgorgement damages, damages for costs, including legal
costs, and damages for any other indirect loss.
Conflict of interest
In order to prevent conflicts of interest, the Saxo Bank Group has
established appropriate business procedures, including procedures
applicable to research and analysis to ensure objective research reports.
The Saxo Bank Group's research reports are never disclosed to nor
discussed with any of the subject of the analysis, e.g. issuers of
securities or others.
The Saxo Bank Group may hold, take, transfer or alienate positions in
securities, foreign exchange or other financial instruments covered by a
The Saxo Bank Group may act as market maker in all products and services
not traded on an exchange (i.e. OTC products such as foreign exchange and
CFDs) and may therefore be the counterparty in any trade conducted by
customers in these products.
The Saxo Bank Group does not engage in corporate finance activities.
Accordingly, none of the Saxo Bank Group's directors, officers,
employees or representatives, namely people in charge of analysis reports,
receives remuneration in connection with the release of any analysis.
Privacy and Use of Personal Data
When signing up for a demo or live account with any entity of the Saxo Bank
Group, this entity will, for administrative, commercial and/or legal
purposes, require and store information about the user, including, but not
limited to, name and address. Furthermore, the Saxo Bank Group may require
some financial information for credit assessment purposes, as well as
users’ e-mail address to be able to mail the login information. Users’
e-mail addresses will not be passed on to third parties, but may be used by
any entity of the Saxo Bank Group for the promotion of its products and
services. Any user who does not wish to receive such marketing material can
send an e-mail stating so to MTSupport@SaxoBank.com.
The Saxo Bank Group is obliged by law to treat personal data as
confidential and may not pass on or use any personal data without valid
All personal data benefits from this full protection and will only be
disclosed to third parties such as administrative or judicial authorities
if the Saxo Bank Group is compelled to do so pursuant to the applicable
law, or if the registered has given its written consent to such disclosure.
The registered may revoke such consent or modify its extent at any time.
Without prejudice to the above, the Saxo Bank Group can disclose the
General customer data, such as name, address and personal
registration number, to companies carrying out administrative tasks
for the Saxo Bank Group.
General customer data about corporate customers to financial
institutions subject to professional secrecy, for the purpose of
marketing and advisory services.
In accordance with the provisions of the Danish Act on Processing of
Personal Data, any Saxo Bank Group customer has a right to be informed
about the data that the Saxo Bank Group holds about him/her/it. The Saxo
Bank Group may charge a fee for providing such information in writing to
the registered, according to rates fixed by the Danish Ministry of Justice.
If the data held about a registered of the Saxo Bank Group proves
inaccurate or outdated, the Saxo Bank Group will correct the registered
data immediately upon the request of the registered. The registered may
also choose to modify its data on its own initiative by contacting the Saxo
Bank Group directly. Questions and concerns can be directed to the Saxo
Bank Group by e-mail at CustomerRelations@Saxobank.com or by telephone at +45
39 77 40 00.
The Saxo Bank Group is under the supervision of the Danish Financial
Supervisory Authority (in Danish: "Finanstilsynet") and is
subject to the Danish Executive Order on Good Business Practice for
This disclaimer and any dispute arising from or in relation thereto,
including disputes regarding its legality, validity, binding effect
(including adoption) and enforceability, shall be settled by the district
court of Lyngby, Denmark in accordance with and subject exclusively to the
laws of Denmark. However, the Saxo Bank Group reserves the right to start
legal proceedings wherever it deems fit, namely, but not exclusively, in
places where the defendant possesses assets.