NDFs available for Asian and Latin currencies

Saxo Bank now offers 11 NDFs (non-Deliverable Forwards) on Asian and Latin currencies, used to trade currencies with restrictive capital controls that are not accessible to spot markets from offshore traders.

NDFs are available for the following currencies:

 USDCNYChinese Renminbi (Onshore Yuan) 
 USDIDRIndonesian Rupiah 
 USDINRIndian Rupee 
 USDKRWSouth Korean Won 
 USDMYRMalaysian Ringgit 
 USDPHPPhilippines Peso 
 USDTWDTaiwan Dollar 
 USDBRLBrazilian Real 
 USDCLPChilean Peso 
 USDCOPColombian Peso 
 USDPEN Peruvian Nuevo Sol 

Trade execution

NDFs are traded over the phone on an RFQ basis through Saxo's Trading Desks.

Requirements for trading NDFs

The minimum trade size for NDFs is USD 500,000 with a maximum open net position per currency capped at USD 5 - 50m.

NDFs are available to Premium Clients who are also required to sign an addendum to Saxo’s General Business Terms - contact your Account Manager if you are interested in trading NDFs.

Margin requirements

An initial 8% margin requirement for all currency pairs is required.


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All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

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