FX Forward Outrights & NDFs
Whereas the FX spot market is for immediate currency trades, the FX forward market is the market for trading currencies for delivery at some point in the future. It enables you to agree a price today (the FX forward price) at which two currencies will be exchanged on a predetermined date in the future.
At Saxo, we provide full electronic access to trade FX forward outrights in 100+ currency pairs with maturities from 1 day to 12 months.
To understand the FX forward outright trading conditions please click here.
NDFs are tradeable offline only with maturities from 1 day to 12 months (3 months for CNY).
The following currency pairs are available to trade up to certain Net Open Position (NOP) limits:
USD 10 million
USDBRL, USDCLP, USDCOP, USDCNY, USDIDR, USDINR, USDKRW, USDTWD
USD 5 million
NDFs are tradable offline only through the Global Sales Trading desk. A minimum margin requirement of 8% is applicable along with a minimum trade size of USD 100,000 or equivalent. A higher margin requirement may apply depending on the level of exposure. Prior to trading this product an addendum to Saxo’s General Business Terms must be signed.
Forex Risk Warning
Forex is categorised as a red product as it is considered an investment product with a high complexity and a high risk.
Danish banks are required to categorise investment products offered to retail clients depending on the product’s complexity and risk as: green, yellow or red. For further information click here