Analysis Disclaimer

"Execution-related advice"

Please note that any recommendation, forecast or other information provided by Saxo Capital Markets or any licensed representative thereof through the trading platform, on any website or orally (hereafter referred to as "Analysis") shall be regarded as "execution-related advice" as defined in Guideline FAA-G08 on Conduct of Business for Execution-Related Advice and Notice FAA-N01 on Recommendations on Investment Products since such Analysis;

1. is incidental to the execution services provided,
2. no discrete fee is charged for the provision of the Analysis , and
3. the Analysis is not based on the particulars of the individual clients (such as financial objectives, risk tolerance, employment status, financial situation, current investment portfolio etc.).

Risk warning

Since Analyses provided by Saxo Capital Markets is not based on the particulars of the individual clients it is the clients own responsibility to ensure the suitability of the Analysis provided.

Saxo Capital Markets shall not be responsible for any loss arising from any investment based on any Analysis provided. Any Analysis provided should not be construed as an express or implied promise, guarantee or implication by Saxo Capital Markets that clients will profit from the strategies herein or that losses in connection therewith can or will be limited. Trades in accordance with an Analysis provided, especially trades in leveraged investments such as foreign exchange trading and investments in derivatives, can be very speculative and may result in significant losses, in particular if the assumptions on which the Analysis is based expire.

Conflict of interest

In order to prevent conflicts of interest Saxo Capital Markets has established appropriate business procedures, incl. procedures applicable to research and analysis, to ensure objective research reports. Saxo Capital Markets's research reports have not been discussed with the parties, e.g. issuers of securities, mentioned in any Analysis.

Saxo Capital Markets, its employees, representatives and related legal persons may have, establish, change or cease to have positions in securities, foreign exchange, futures or other financial instruments covered by an Analysis.

Companies associated with Saxo Capital Markets may act as market makers in all products not traded on an exchange (i.e. OTC products such as foreign exchange and CFDs) and may therefore be on the other side of any trades conducted by clients in these products.

Cost and Remuneration

Saxo Capital Markets does not charge clients fees or commissions for any Analysis provided and is not in any direct or indirect way remunerated for such Analysis by any issuer or product provider with an interest in the issued Analysis.

Saxo Capital Markets is remunerated through the commissions and fees paid when clients of Saxo Capital Markets conducts trades through the trading platform and any Analysis provided shall therefore be considered incidental to the trading facilities provided by Saxo Capital Markets

General Information

Any Analysis provided may be drafted by Saxo Capital Markets, another member of the Saxo Bank Group, or a third party and is made available by:

a) Saxo Capital Markets, 3 Church Street, # 30-00, Samsung Hub, Singapore 049486. Telephone no.: +63 6303 7800.
b) Saxo Capital Markets is licensed as a capital market services provider and is supervised by the Monetary Authority of Singapore.
c) Saxo Capital Markets’s license covers Dealing in Securities, Trading in Futures Contracts, Leveraged Foreign Exchange Trading and Providing Custodial Services for Securities.

Please read our general disclaimer.