Saxo Bank now offers 11 NDFs (non-Deliverable Forwards) on Asian and Latin currencies, used to trade currencies with restrictive capital controls that are not accessible to spot markets from offshore traders.
NDFs are available for the following currencies:
Chinese Renminbi (Onshore Yuan)
South Korean Won
Peruvian Nuevo Sol
NDFs are traded over the phone on an RFQ basis through Saxo's Trading Desks.
Minimum trade size
Minimum trade size is USD 500,000 and the maximum Open Net Position per currency is capped at notional USD 5 - 50m.
An initial 8% margin requirement for all currency pairs is required.