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Saxo Gurantee Fund

  • 19-05-2014 7:39am
    #1
    FURET
    Closed Accounts Posts: 685 ✭✭✭


    I've been thinking about using Saxo as my e-broker but am a little concerned by the following information on their website:
    TheGuarantee Fund for Depositors and Investors http://www.saxobank.com/support/legal-documentation/investor-fund-guarantee

    Protection of retail client funds

    Saxo Bank is a member of the DanishGuarantee Fund for Depositors and Investors.

    In the event that a Danish bank(including Saxo Bank) should suspend its payments or go into bankruptcy, clientdeposits are guaranteed by the Fund with up to EUR 100,000 for cash deposits.Cash deposits are calculated as the net free deposit after deduction of anydebt to the bank.

    As a general rule, securities will notbe affected by the suspension of payment or compulsory winding-up and will bereturned to the client. In the event that a Danish bank (including Saxo Bank)is unable to return securities held in safe-custody, administered or managed,the Guarantee Fund will cover with up to EUR20,000 per client.

    Isn't that very much on the low side? Or is there something I'm missing?


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