Saxo Bank FX Securities K.K., the Japanese branch of Saxo Bank, a Danish bank specialized in providing online trading services, forex included, said on Thursday it intends to increase the margin rates for the USD/SAR and USD/AED currency pairs to 20%. Currently, the two currency pairs have margin rates of 8%.
The new margins will come into effect as of 22 January, 2016, and will be valid for both individual and corporate clients.
The changes are in response to the recent market trends, the broker said in a notice. As a result,
Saxo Bank acts as a Market Maker and has 30,000 financial instruments available on its platforms, including forex, binary options on forex and stocks and contracts, CFDs, stocks, futures, and bonds, among others. It is headquartered in Copenhagen, Denmark, and operates through its subsidiary companies across Europe, Asia and the Middle East, Australia, South America, and South Africa. The company is licensed and regulated by the Danish Financial Supervisory Authority (FSA) and has units that are fall under the regulation of a number of other regulatory bodies worldwide.
Source: Saxo Bank FX Securities K.K.