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:
| USDCNY | Chinese Renminbi (Onshore Yuan) |
| USDIDR | Indonesian Rupiah |
| USDINR | Indian Rupee |
| USDKRW | South Korean Won |
| USDMYR | Malaysian Ringgit |
| USDPHP | Philippines Peso |
| USDTWD | Taiwan Dollar |
| USDBRL | Brazilian Real |
| USDCLP | Chilean Peso |
| USDCOP | Colombian 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.