Do not invest more money than you can afford to lose.
Saxo Bank Securities Co., the Japanese unit of Saxo Bank, a Danish bank specialized in providing online trading services, said on Wednesday it will double to 50% the margin rate for trading in stock contracts for difference (CFDs) for Celldex Therapeutics.
The change will take effect as of the beginning of 11 March, 2016. The move is part of the broker’s strategy to optimize the trading conditions on stock CFDs.
Saxo Bank Securities has been altering stock CFD margins for more than a month. The company intends to review the margins for other stock CFDs in the near future, as well.
Last week, the broker increased the margins for CFDs on the stocks of several other companies – Bonanza Creek Energy, Norfolk Southern, PTC Therapeutics Inc., and Zodiac.
Before that, the Japanese broker altered the margins of CFDs on stocks of Telecom Engineering Center and Delta Lloyd. Prior to this, it changed the margins for trading in CFDs on Twitter Inc. and Media Analytics Corp. It has also made changes in the trading conditions for the stock CFDs for 12 other companies – LinkedIn Corp., Syngenta, Tesoro Petroleum Corp., Genmab, First Solar Inc., Yahoo Inc., Softbank, Netflix, Deutsche Bank, as well as Freeport-McMoran Inc., Chesapeake Energy, and Vestas Wind Power.
Saxo Bank was founded in Copenhagen in 1992. It holds a banking license from Denmark’s Financial Supervisory Authority (FSA). The group operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa.
The company acts as a brokerage firm and a market maker and offers trading in more than 30,000 instruments, including forex, binary options, CFDs, stocks, futures, and bonds through its proprietary online trading platforms SaxoTrader and SaxoTraderGO.
Saxo Bank Securities Co. was renamed from Saxo Bank FX Securities Co. in January this year. 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).
Source: Saxo Bank Securities Co.
