Saxo Bank’s effective SAXO Bank special will implement a new definition for the value of the account to improve transparency and consistency on all platforms.
Changes include the abolition of the “Cost to Close” element from the value of customers’ positions only for cash products and to import this cost into specific categories for margin customers.
These updates aim to provide clearer and more accurate account information and alignment of labels and standards.
- For customers with share capital positions (no margin positions)
The “cost for closure” will no longer appear in the account detail, resulting in a higher “account value”. This is aligned with the portfolio report, which does not include the cost of closing.
“Cash Available” to withdraw or open new positions remain unchanged, as it already represents the future costs for closing.
The cost of closing is still visible in any review of the location or in the narrow trade window.
- For customers with marginal positions
The “cost for closure” will be removed from the account details of the account and incorporated into “unavailable as an initial/maintenance”. This will lead to a higher account number, but the “available cash” will still be the same.
