Japanese branch of Saxo Bank hikes margin rates for certain CFDs

Japanese branch of Saxo Bank hikes margin rates for certain CFDs

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Saxo Bank Securities Co., the Japanese branch of The Danish investment services provider Saxo Bank announced it is altering the minimum margin rates for CFDs on selected stocks. The changes come into effect on February 13 and are affecting the CFDs of the following companies:

  • Deutsche Bank, DB:xnys, DBK:xetr;

  • First Solar Inc., FSLR:xnas;

  • Genmab, GEN:xcse;

  • LinkedIn Corp., LNKD:xny;

  • Netflix Inc., NFC:xetr; NFLX:xnas;

  • Syngenta AG, SYT:xnas, SVJ:xetr, SYNN:xvtx;

  • Tesoro Petroleum Corp., TSO:xnys;

  • Yahoo Inc., YHOO:xnas

The margins rates for the stocks of eight of the nine companies on the list are raised to 25%, both for individual and corporate clients. The sole exception is Deutsche Bank, for which the new margins are set at 20% for individual customers and 15% for corporate customers – remaining unchanged for the former and up 5% for the latter.

Saxo Bank Securities Co. also announced changes in the minimum margin rates for Softbank, 9984: xtks, starting from February 15 – also 25%, both for individual and corporate clients. Previously the margin rate for individuals was 20% and for corporate customers – 10%.

Last week Saxo Bank Securities Co. announced alterations of the minimum margin rates for CFDs of several other companies.

Saxo Bank Securities recently got renamed from Saxo Bank FX Securities Co.. It is a member of the Japan Securities Dealers Association (JSDA), the Commodity Futures Association of Japan, the Financial Futures Association of Japan (FFAJ), and the Japan Investor Protection Fund (JIPF).

Saxo Bank was founded in Copenhagen in 1992 as a brokerage firm under the name Midas Fondsmæglerselskab and changed it in 2001 when it got a banking license from the Danish Financial Supervisory Authority (FSA). Saxo Bank, however, does not offer traditional banking products. Instead it continues to work as a brokerage firm, providing online platforms (SaxoTraderGO and SaxoTrader) for trading in forex, stocks, CFDs, futures, funds, bonds and futures spreads. The minimum deposit is $10 000.

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