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 positions 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
TotalSell 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, 6 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 crossTrading hours
AED, SAR07:00 to 15:00 CET
ILS07:00 to 17:00 CET
RON08:15 to 17:00 CET
RUB07:00 GMT to 19:00 GMT*
THB17:04 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 that 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 for 5 minutes. 

HolidayDateSpecial Trading Hours
Martin Luther King Jr.21-Jan-19Trading halt at 13:00 EST
Trading open at 18:00 EST
Presidents Day18-Feb-19Trading halt at 13:00 EST
Trading open at 18:00 EST
Good Friday19-Apr-19Closed
Memorial Day27-May-19Trading halt at 13:00 EST
Trading open at 18:00 EST
Independence Day04-Jul-19Trading halt at 13:00 EST
Trading open at 18:00 EST
Labor Day02-Sep-19Trading halt at 13:00 US EST
Trading open at 18:00 EST
Thanksgiving28-Nov-19

29-Nov-19
Trading halt at 13:00 EST
Trading open at 18:00 EST
Early close at 13:15 EST
Christmas24-Dec-19
25-Dec-19
Early close at 13:15 EST
Closed. Trading open at 18:00 EST
New Year's01-Jan-20Closed. Trading open at 18:00 EST

Please note: Saxo FX Metals Trading hours follow the CME Group holiday calendar which is available on the CME Group public website.

Additional trading conditions for 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 positon. 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.

Historic swap points

Please select rollover date to retrieve the data.

Ready to get started?

Opening an account takes around 5 minutes 

Saxo Markets
3 Church Street, #30-00
Samsung Hub
Singapore 049483

All departments are available 08:30 to 17:30 Monday to Friday.

Singapore

Saxo Capital Markets Pte Ltd ('Saxo Markets') is a company authorised and regulated by the Monetary Authority of Singapore (MAS) [Co. Reg. No.: 200601141M ] and is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms & Risk Warning to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products such as Margin FX products may result in your losses exceeding your initial deposits. Saxo Markets does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Markets does not take into account an individual’s needs, objectives or financial situation.

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