Futures position management changes
Saxo Bank is moving to FIFO netting on futures positions from:
- 6th April on the SaxoTrader platform
- 27th May on the SaxoTraderGO platform
This means that futures trades must be closed in the order they were opened; platform features which allow you to close trades in a different order will be removed:
- Individual trades in a position cannot be closed directly
- you cannot place related stop and limit orders to close specific trades
To close or reduce a position, you can place a trade using either the Close button on the position, or by placing a trade using the Trade Ticket.
Stop loss and take profit orders cannot be related directly to individual trades. OCO-related stop and limit orders can be placed instead to protect the net trade position. OCO-related stop and limit orders must be managed separately — if you manually close a position, you must also manually cancel any related orders.
One-Cancels -Other (OCO) orders for futures in SaxoTraderGO
One-Cancels-Other (OCO) orders will be available on futures in SaxoTraderGO from 27th May. This will allow you to protect net futures positions with OCO related Take Profit and Stop Loss orders when related orders to individual trades are removed as part of the futures position management changes.
Take Profit and Stop Loss orders can be placed at a fixed Price or at a percent distance from the current market price.