Those that wish to open account with Saxo can let me know and we can have a few free lunches on the referral fee I collect.
FYI for those interested, foreign brokers like Saxo have following differences over local ('1st world brokers for 3rd world investors'?) ones:
- their 'long' CFD financing premiums are around 1.5% above interbank offered rates (for the respective currencies), and are much lower than that charged by local (con) brokers. E.g. SGD is 3+% vs 5.5% for local brokers
- they pay 'interest' for short CFD positions, local con ones charge for short too
- they do not rollover positions every month or so, local ones do that and charge 2x (sell & buy back)commissions again on each rollover. Some have 'promotions' where they 'give' waivers for some period (so nice).
In addition, the 'forced' regular rollover causes financing principal (and therefore their charge) to rise as share price goes up.
E.g. you bot your share initially at the cheap/low of $10 and price has since doubled. The local con brokers rollover your position to the new price of $20 and you end up paying interest on $20. Since foreign brokers do not rollover your position, their financing charge is based on your original purchase price $10 for as long as you hold that position.
That difference of course works the other way too i.e. as price drops, local brokers charge less financing. But then that situation should not apply as much to more savvy investors since they would more likely buy when prices are cheap and less likely to go down as much as up (if lose more often than gain, then don't invest. sure jialat).
If price drops appreciably, one can always do voluntary rollovers (self-directed sell & buyback) to take advantage of lower price (principal) and financing cost. Or simply rollover to cash position using dividends earned. That's what I (loser) do when prices drop by more than 20%...
From: Helen Yudan Zha (HZH)
To: CCK
Sent: Wed, July 6, 2011 11:12:38 AM
Subject: Saxo: Refer a friend to Saxo and receive SGD 200
Dear CCK
Good morning and thank you very much for trading in Saxo!
Do you know of someone who may benefit from our award winning SaxoTrader platform? Refer your contact to us and you may be eligible for our referral fee of SGD 200 per client !
A quick view for some terms and conditions:
Referrer (You)
- You must have a SaxoTrader account with Saxo Capital Markets Singapore
- You must have executed at least one trade
- You must Not be married to the referee
- There must be no executed or pending request for account closure
Referee (The person you refer)
- He/she must open a Saxo Trader account (min SGD 10,000 initial deposit) with Saxo Singapore
- He/she must have executed at least one trade
- He/she must not be married to you
- He/she must not have been previously registered with Saxo
- He/she must not have been previously referred to Saxo
- There must be no executed or pending request for account closure or funds withdrawal
To refer clients to Saxo
Please reply to me with your referee’s name, mobile number and email address if available. We will then follow up with your referee. Please feel free to forward my contacts to your friend. Let me know if you have any questions here.
Once you and your referee have met the conditions, your trading account will be credited with SGD 200 !
Thank you very much and have a nice day!
Yours Sincerely
Helen Yudan Zha
Manager – Private Account Management
Mailto: HZH@saxomarkets.com.sg
Phone: +6563037706
No comments:
Post a Comment