Disclaimer
The information on this website is related to Saxo Capital Markets UK Ltd and is intended to be accessed by UK residents. All clients will directly engage with Saxo Capital Markets UK Ltd and all client agreements will be entered into with Saxo Capital Markets UK Ltd and will be governed by English law. In particular, this information is not directed at or intended for “US Persons” within the meaning of the United States Securities Act of 1993, as amended and the United States Securities Exchange Act of 1934, as amended. If you access the website of another member of the Saxo Bank Group (defined below), please refer to the disclaimer on the relevant website.
Any fact, assessment, analysis, forecasts, opinion and other information (collectively “Information”) released by:
- Saxo Capital Markets UK Ltd;
- Saxo Bank A/S;
- any owner, subsidiary, affiliates or branch office of Saxo Bank A/S; and
- any director, officer, employee or representative thereof,
(collectively the “Saxo Bank Group”).
whether provided on the Saxo Bank Group’s websites, on third party websites, in marketing materials, newsletters, in individual e-mails and letters, in lectures, individual conversations or in any other form of written or verbal communication (collectively “Publications”) are provided for informational and/or marketing purposes only.
Unless specifically stated, no Publication of the Saxo Bank Group should be construed as an offer (or solicitation of an offer) to:
- buy or sell any currency, product or financial instrument,
- make any investment; or
- participate in any particular trading strategy,
(collectively “Offers”).
Notwithstanding anything to the contrary (not even if specifically stated), no Publication of the Saxo Bank Group should be construed as an Offer in any jurisdiction in which such Offer would be illegal. Any such perceived Offer will not be honoured by the Saxo Bank Group.
No Representation, No Warranty
The Saxo Bank Group uses reasonable efforts to obtain information from reliable sources, but all Publications are provided on an "as is" basis without representation or warranty of any kind (neither express nor implied) and the Saxo Bank Group disclaims liability for any Publication not being complete, accurate, suitable and relevant for the recipient. Specifically, the Saxo Bank Group disclaims liability towards any subscriber, client, partner, supplier, counterparty and other recipients for:
- the accuracy of any market quotations;
- any delay, inaccuracy, error, interruption or omission in providing market quotations;
- and any discontinuance of market quotations.
The Publications of the Saxo Bank Group are not updated after their release and may due to changing circumstances become inaccurate and possibly misleading after a period of time which may vary from seconds and minutes to days, weeks and months depending on the Information. The Saxo Bank Group gives no guarantee against, and assumes no liability towards any recipient for, a Publication being outdated.
If a Publication becomes outdated the Saxo Bank Group shall be under no obligation to;
- update the Publication;
- inform the recipients of a Publication; or
- perform any other action.
Any Publication may be personal to the author and may not reflect the opinion of the Saxo Bank Group. The Saxo Bank Group reserves the right at its sole discretion to withdraw or amend any Publication or Information provided at any time without notice (prior or subsequent).
No recommendations
The Saxo Bank Group does not in any of its Publications take into account any particular recipient’s investment objectives, special investment goals, financial situation, and specific needs and demands. Therefore, all Publications of the Saxo Bank Group are, unless otherwise specifically stated, intended for informational and/or marketing purposes only and should not be construed as:
- business, financial, investment, hedging, legal, regulatory, tax or accounting advice;
- a recommendation or trading idea; or
- any other type of encouragement to act, invest or divest in a particular manner,
(collectively “Recommendations”).
The Saxo Bank Group shall not be responsible for any loss arising from any investment based on a perceived Recommendation.
Notwithstanding anything to the contrary (not even if specifically stated), no Publication (including possible Recommendations) shall be construed as a representation or warranty (neither express nor implied) that the recipient will profit from trading in accordance with a trading strategy set forth in a Publication or that the recipient will not sustain losses from trading in accordance with a trading strategy set forth in a Publication.
Risk Warning
Trading in the products and services of the Saxo Bank Group may result in losses. In particular, trading in leveraged products, such as but not limited to, contracts for difference, foreign exchange, derivatives and commodities can be very speculative and there is the possibility of losing money rapidly and incurring losses that greatly exceed your investments.
Speculative trading is not suitable for all investors.
We are required to perform an appropriateness assessment to determine whether it is appropriate for you to trade products that are available on our trading platform. If we determine from the information that you provide that it is not appropriate for you to trade in certain products, we may warn you of our assessment or remove the functionality from our trading platform to prohibit you from trading such products.
Any mention, if any, in a Publication of the risks pertaining to a particular product or service should neither be construed as a comprehensive disclosure nor a full description of all risks pertaining to such product or service. The Saxo Bank Group strongly encourages any recipient considering trading in its products and services to employ and continuously consult suitable financial advisors prior to the conclusion of any investment or transaction.
Local regulatory restrictions
The Saxo Bank Group’s Publications may be accessed worldwide. The Information provided in such Publications is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the products and services referred to in the Publications of the Saxo Bank Group are available to recipients residing in countries where the provision of such products and services would constitute a violation of mandatory applicable legislation or regulations.
It is the sole responsibility of any recipient employing or requesting a product or service of the Saxo Bank Group to comply with all applicable legislation or regulation.
Use of the website
Any use of the Saxo Bank Group’s websites is subject to Saxo Bank Group’s Terms of Use, as amended from time to time, and the Copyright provisions, as amended from time to time, both of which shall be construed as constituting an integrated part of this disclaimer.
The Saxo Bank Group shall not be liable for any damage or injury arising out of any person’s or entity’s access to, or inability to access, any website of the Saxo Bank Group. This limitation includes, but is not limited to, any damage to computer equipment and computer systems caused by virus, malware and any other harmful computer coding.
Consulting a website of the Saxo Bank Group does not constitute a customer relationship and the Saxo Bank Group shall not have any duty or incur any liability or responsibility towards any person or entity as a result of such person or entity consulting a website of the Saxo Bank Group.
Any market data displayed on this Trading Platform may only be used for your personal or your own internal business purposes and only in connection with this specific service. Distribution of any market data to anyone else is prohibited.
Translation discrepancies
The Saxo Bank Group offers its Publications in a wide range of languages for the recipient’s comfort of use. In case of discrepancy between the original English text and any translation, the original English text shall prevail.
All recipients are advised to carefully examine the original English text before acting upon a translation thereof. Any user who does not fully understand the original English text is strongly encouraged to contact the Saxo Bank Group by e-mail at servicecenter@saxobank.com or by telephone at +45 39 77 40 00.
The Saxo Bank Group shall not be bound by, or liable to any recipient for, an incomplete or inaccurate translation of an original English text to another language.
Client relationship
When applying for an account with any entity within the Saxo Bank Group, each applicant will be subject to the relevant set of business terms. All applicants and clients are deemed to have read and understood the business terms and related policies applicable to them and their relationship with the relevant entity of the Saxo Bank Group.
Consulting a website or receiving a Publication of the Saxo Bank Group does not constitute a customer relationship and the Saxo Bank Group shall not have any duty or incur any liability or responsibility towards any person or entity as a result thereof.
Third party services
Persons or entities not belonging to the Saxo Bank Group may advertise on the Saxo Bank Group’s websites, through links, banners or otherwise. The Saxo Bank Group shall not be held responsible or liable for the offerings, information or acts of any such third party. If a user of the Saxo Bank Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk. Your access and use of these third party websites at your sole risk and discretion, and we shall not be liable for any loss or damage suffered by you (or anyone else) as a result of linking to third party sites.
If a client opts to use third-party authentication credentials (such as logins via Google and Apple) to access one of the Saxo Bank Group’s trading platforms, they are informed that the terms and conditions of the respective authentication service provider (e.g., Google or Apple) will apply. The client acknowledges and accepts that they have reviewed the terms and conditions, security measures, data protection, and confidentiality policies of the authentication service provider and agree to them. Accessing the trading platform using third-party authentication credentials is at the client's own risk, and the Saxo Bank Group disclaims any associated liability.
In accordance with applicable laws, the Saxo Bank Group applies strong authentication of the client when the client carries out a transaction via the means of remote communication that may involve a risk of fraud or other fraudulent use. Strong authentication is performed by confirming a message contained in the relevant app on the mobile phone previously assigned to the user (e.g., via TAN confirmation). In the case of a transaction validated by strong authentication, the Saxo Bank Group may refuse to reimburse the client if the client has acted with gross negligence, has wilfully failed to comply with his obligations to protect the personalised security details of his account, or has committed fraud. In addition, a transaction is deemed to have been confirmed by the client as soon as it has been initiated by strong authentication, unless the client provides proof to the contrary.
Limitation of Liability
If the Saxo Bank Group at any time and for any reason, should become liable for the loss of any person and/or entity, including without limitation, if any provision of this disclaimer is, or at any time becomes to any extent or in any circumstances invalid, illegal or unenforceable for any reason, the liability of the Saxo Bank Group shall be limited to such person’s and/or entity’s duly documented direct loss, which for the avoidance of doubt, and without limitation, shall not include damages for any incidental and consequential losses, damages for lost opportunity, damages for lost profit, statutory damages, nominal damages, punitive damages, restitutionary or disgorgement damages, damages for costs, including legal costs, and damages for any other indirect loss.
Conflict of interest
In order to prevent conflicts of interest, the Saxo Bank Group has established appropriate business procedures, including procedures applicable to research and analysis to ensure objective research reports. The Saxo Bank Group's research reports are never disclosed to nor discussed with any of the subject of the analysis, e.g. issuers of securities or others.
The Saxo Bank Group may hold, take, transfer or alienate positions in securities, foreign exchange or other financial instruments covered by research reports.
The Saxo Bank Group may act as market maker in all products and services not traded on an exchange (i.e. OTC products such as foreign exchange and CFDs) and may therefore be the counterparty in any trade conducted by customers in these products.
The Saxo Bank Group does not engage in corporate finance activities. Accordingly, none of the Saxo Bank Group's directors, officers, employees or representatives, namely people in charge of analysis reports, receives remuneration in connection with the release of any analysis.
Privacy and Use of Personal Data
When signing up for a demo or live account with any entity of the Saxo Bank Group, this entity will, for administrative, commercial and/or legal purposes, require and store information about the user, including, but not limited to, name and address.
Supervision
Saxo Bank A/S is a licensed credit institution incorporated in Denmark and authorised by the Finanstilsynet under Reg. no: 1149 and is subject to the Danish Executive Order on Good Business Practice for Financial Undertakings. Please refer to Saxo Bank's full disclaimer available at https://www.home.saxo/legal/disclaimer/saxo-disclaimer.The Saxo Bank Group is under the supervision of the Danish Financial Supervisory Authority (in Danish: "Finanstilsynet").
Saxo Capital Markets UK Ltd is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 551422.
Disputes
This disclaimer and any dispute arising from or in relation thereto, including disputes regarding its legality, validity, binding effect (including adoption) and enforceability, will be governed by and construed in accordance with the laws of England and shall be subject to the exclusive jurisdiction of the Courts of England & Wales. However, the Saxo Bank Group reserves the right to start legal proceedings wherever it deems fit, namely, but not exclusively, in places where the defendant possesses assets.
Non-Independent Investment Research
Any information which could be construed as investment research has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Further it is not subject to any prohibition on dealing ahead of the dissemination of investment research. Saxo Bank Group may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein.
Forward-Looking Statements
Where there are statements contained in this website which are not historical facts, such statements could be data obtained as a result of simulated past performance or future performance based on current expectations, estimates, projections, opinions and beliefs of members of the Saxo Bank Group. Such statements involve known and unknown risks, uncertainties and other factors, and undue reliance should not be placed thereon. Additionally, this website may contain 'forward-looking statements'. Actual events or results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. None of any opinions that may be inferred from the contents of this website are intended to be relied upon as advice or recommendation of any action. They are intended merely as articulations of personal musings and speculations.
This material is confidential and should not be copied, distributed, published or reproduced in whole or in part or disclosed by recipients to any other person.