FX trading conditions
For FX spot and FX forwards the trade tiles in Saxo’s trading platforms are colour-coded red (to sell) and blue (to buy) for all instruments where:
Prices are realtime
Market is open
Instruments are colour-coded grey where prices are not realtime, or the market is not open. Non-tradable instruments will have flat non-clickable tiles.
Derive the value of potential price improvements on every trade. Assume greater control of your trading, and achieve an optimal balance between fill ratio and price level through our fully customised orders.
Saxo offer a variety of orders, including Market, Limit and Stop orders. To learn more please see Orders and Execution Statistics.
To learn more about how Saxo executes orders on behalf of its clients, please refer to our Order Execution Policy.
Trades cannot be executed below the minimum trade size. Full details can be found here.
When netting open FX positions Saxo uses FIFO (First-In-First-Out) rules, which means that the first position that you open is the first position to be closed. This is provided that the positions are on the same account and that none of the positons have related orders attached.
Example: You are trading EURUSD and have opened the following positions:
| 1) | Buy 1M EURUSD |
| 2) | Buy 1M EURUSD |
| 3) | Sell 1M EURUSD |
| 4) | Sell 2M EURUSD |
| Total | Sell 1M EURUSD |
The first long position 1) will net out with the first short position 3), the second long position 2) will net out with half of the second short position 4), leaving only one short position of 1M EURUSD at the end of the trading day.
The NOP Value (Net Open Position Value) is the sum of all single currency exposures converted into the base currency of the account.
If the NOP value exceeds the NOP limit, you will only be able to place orders that close positions or reduce the NOP value. The breakdown of single currency exposures and the NOP value is displayed in the SaxoTrader platforms in the ‘Account Exposure’.
Saxo is open for trading 24 hours a day, 5½ days a week, opening on a Monday morning in Australia (05.04 Local Sydney Time) and closing on a Friday evening (16.59 Eastern Standard Time). However, some currencies have special trading hours as shown in the table below:
| Currency cross | Trading Hours |
|---|---|
| AED, SAR | 07:00 to 15:00 CET |
| ILS | 07:00 to 17:00 CET |
| RON | 08:15 to 17:00 CET |
| THB | 17:04 EST to 15:30 CET |
| Precious metals (XAU, XAG, XPT**) | 18:01 to 16:59 EST |
* In instances where no liquidity can be sourced in the market, these trading hours may be further reduced on a day-to-day basis
** Special dates and times for FX Metals apply on U.S. national holidays to reflect the trading hours of the underlying futures market
Please note, FX spot, forward and option prices stop streaming from 1 minute before the end of the trading day (17:00 Eastern Standard time) and remain non-tradeable (grey pricing) for 5 minutes. This is normal behavior. Saxo want you to recognise that liquidity can be thin during this brief interval and encourage you not to trade at this time.
Krypto-Devisen können an 5½ Tagen in der Woche rund um die Uhr gehandelt werden. Der Handel öffnet am Sonntagabend um 18:00 Uhr Eastern Time (ET) und schliesst am Freitagnachmittag um 17:00 Uhr Eastern Time (ET).
Das Streaming der Krypto-Devisenkurse stoppt 1 Minute vor dem Ende des Handelstags (17:00 Uhr Eastern Time) und bleibt 6 Minuten lang nicht handelbar (graue Preisgestaltung). Dabei handelt es sich um eine geplante Handelspause. Bitte seien Sie sich bewusst, dass die Liquidität innerhalb dieser kurzen Zeitspanne knapp sein kann, weswegen Saxo Ihnen empfiehlt, in dieser Zeit keine Handelsgeschäfte zu tätigen.
Bitte beachten Sie, dass der zugrundeliegende Kryptomarkt am Wochenende geöffnet bleibt und jegliches Krypto-Devisen-Engagement verwaltet und angepasst werden sollte, bevor die Devisen-Handelssitzung am Freitagnachmittag schliesst.
An nationalen Feiertagen in den USA gelten besondere Termine und Uhrzeiten für Krypto-Devisen, um die Handelszeiten des Future-Marktes widerzuspiegeln.
| Feiertag | Datum | Besondere Uhrzeiten für den Handel |
|---|---|---|
| Karfreitag | 15. April 2022 | Geschlossen |
| Thanksgiving | 25. November 2022 | Frühzeitige Schliessung um 13:45 Uhr EST |
| Weihnachten | 25. Dezember 2022 26. Dezember 2022 | Geschlossen Handelsbeginn um 18:00 Uhr EST |
| Neujahr | 1. Januar 2023 2. Januar 2023 | Geschlossen Handelsbeginn um 18:00 Uhr EST |
Die Handelszeiten für Saxo FX Metalle orientieren sich am Feiertagskalender der CME Group, der auf der öffentlichen Website der CME Group zur Verfügung steht.
Feiertagsübersicht
An Feiertagen sind Märkte und Börsen in aller Welt zu bestimmten Zeiten geschlossen. Nachfolgend sehen Sie bevorstehende Feiertage.
Zusätzliche Handelsbedingungen für FX Devisentermingeschäfte (FX Forward Outrights)
When the value date of an open forward outright position equals the current spot value date, it will be treated as a normal spot position. From that point on, positions held at the end of a trading day (17.00 Eastern Standard Time) are rolled forward to the next available business day. Read more about Financing.
Closed forward outright positions are netted out when the value date of the position equals the current spot value date i.e. the position is changing from a forward position to a spot position.
Historische Swap-Punkte*
* Bitte beachten Sie, dass diese Tabelle auch Instrumente umfassen kann, die nicht bei Saxo Bank Schweiz gehandelt werden können. In den Tabellen wird ein Profil mit einem Aufschlag von +/- 0.45% verwendet.
