S A X O C A P I TA L M A R K E T S
USE OF MULTIPLE ACCOUNTS (INCLUDING SUB-ACCOUNTS)
Saxo Capital Markets may allow its clients to open multiple accounts denominated in the same or other currencies than the main trading
account. Trading on multiple accounts may be beneficial if the client is applying different trading strategies (e.g. long term trading vs.
short term trading) or the client is trading products denominated in currencies different from the currency on the main trading account.
On the other hand, maintaining more than one account may entail disadvantages as well.
ROLLOVER CHARGES
If a client opens opposite positions in the same currency cross on the same account, such positions will cancel each other out. However
if such opposite positions are opened on different accounts they will not cancel each other out.
A spot trade that is not closed by the client at the end of the trading day will be rolled over on a daily basis (i.e. “swapped” for a similar
position expiring the next day). A spot trade being rolled over will incur a charge (the “tom-next rate”).
Please be aware that keeping opposite positions open on different accounts will result in both positions being continuously rolled over
(and thereby continuously being charged the “tom-next rate”) until manually closed. The operation of multiple accounts may therefore
imply additional costs for the client.
The example above regarding currency trading is applicable to other instruments as well if a client holds long and short positions in such
instruments on different accounts.
MARGIN REQUIREMENTS
If a client operates multiple main accounts (as opposed to one main account with one or more sub-accounts) it should be noted that
deposited collateral on one main account will not automatically serve as margin coverage on other main accounts. A client may therefore
receive margin calls and potentially stop-outs on one main account despite having additional collateral available on other main accounts.
However under the netting agreement between Saxo Capital Markets and the client collateral held on one account may be used to cover
a deficit balance on any other account held by the client.
Based on the issues mentioned above, Saxo Capital Markets recommends its clients to exercise caution when using more than one
account.
INTEREST CALCULATION
Unless specifically agreed otherwise interest is calculated on the basis of the net free equity on each individual account or sub-account.
You will therefore be charged interest on the full negative net free equity on any account despite having a positive net fee equity on
another account. When operating several accounts you may therefore be charged interest despite having an overall (accumulated)
positive net free equity.
Based on the issues mentioned above, Saxo Capital Markets recommends its clients to exercise caution when using more than one
account.
I hereby acknowledge and accept that the use of several accounts may result in such additional costs and actions as mentioned above.
This acknowledgement will apply to all existing and later accounts, including sub-accounts, in any currency opened by the client.
C lient D etails
Client name and surname:
Saxo Capital Markets ID:
Date:
03/2015
Signature:
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S A X O C A P I TA L M A R K E T S
USE OF MULTIPLE ACCOUNTS (INCLUDING SUB-ACCOUNTS)
Saxo Bank kindly asks the client to submit the following information:
Client name:
Saxo ID:
Please only complete one option below, Part A or Part B.
PART A - R equest for sub - accounts to y our existing account
Number of sub-accounts:
Currencies of the additional account(s):
For sub-accounts requested in the same currency as an existing account, kindly provide the reason below:
PART E B - R equest for new separate account
Currency of the additional account:
Appointing Introducing Broker (if relevant)*:
What is your purpose for applying for an additional account at Saxo Capital Markets?
Capital preservation / hedging (minimize the potential for any loss of principal)
Growth (increase investment value over time while accepting price fluctuations)
Speculation (assume the highest degree of risk for potentially higher returns)
What type of instruments would you be interested
in trading?
What is approximately your level of investable assets?
FX Spot
Stocks
< EUR 5.000
500.000 - 1.500.000
FX Forward
Stock Options
5.000 - 50.000
1.500.000 - 5.000.000
FX Options
CFD
50.000 - 500.000
> 5.000.000
Contract Options
Bonds
Futures
Managed Funds
How much do you intend to invest with Saxo Capital Markets?
How many trades do you typically place on a monthly basis?
< EUR 10.000
250.000 - 500.000
0-5
50 - 100
10.000 - 20.000
500.000 - 750.000
5 - 10
> 100
20.000 - 50.000
750.000 - 1.000.000
10 - 50
50.000 - 100.000
> 1.000.000
100.000 - 250.000
*Please Note: If an Introducing Broker is being appointed, an Account View Form or Power of Attorney Form is also required.
Date:
Signature:
SAXO CAPITAL MARKETS l PARTE DE SAXO BANK A/S ZONAMERICA EDIFICIO@1 OFICINA 109 | CP 91600 MONTEVIDEO-URUGUAY
Telephone +59825183110 | Email: informacion@saxomarkets.com l Web: latin.saxomarkets.com
03/2015
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