How to Buy/Sell Silver On Saxo Bank

Page Summary

Saxo Bank is a good fit for advanced traders looking to buy or sell silver. Saxo Bank is a leading online broker with premium trading services. It has a transparent fee policy and a high minimum initial deposit.

Buying/selling silver has advantages and disadvantages. This article discusses how to buy or sell silver on Saxo Bank.

Options For Buying And Selling Silver

Buying and selling silver is an excellent choice for professional traders with a Saxo Bank brokerage account. This broker has a versatile asset portfolio, including silver. Traders are able to buy/sell silver ETF, silver CFD, silver options, silver futures, and silver spot forex.

Silver ETF

A silver ETF is an exchange-traded fund for silver investments. An ETF is a set of securities that use an underlying index. ETFs work similarly to mutual funds, but they come with lower costs and better returns.

Silver ETFs are either physical silver or businesses connected to silver. The downside is that investors aren’t allowed to leverage or go short without a margin account.

Silver ETF

Can you use leverage or go short? No, unless you use a margin account
What can be the important costs? Commission Custody fee Spread Fees charged by ETF issuers (e.g. expense ratio)
Ticker(s) of silver ETFs* SLV, SIVR, SIL. AGQ
Further things to consider Liquidity is usually high
Wide range of silver ETFs available

Silver CFD

A silver CFD refers to a financial contract that covers the differences in the set price between the opening and closing trades. It is either silver forex or a silver ETF.

The leverage on ETF CFDs is 1:5, while on XAGUSD, CFD is 1:10. Investors are able to diminish trading risks by using stop-loss in their orders.

Silver CFD

Can you use leverage/go short? Yes
What can be the important costs? Spread Commission Swap (cost for holding a position overnight)
Ticker(s) of silver CFD Ticker of the underlying asset, e.g. XAGUSD, SLV
Further things to consider Silver spot forex CFD market is open 24 hours a day, except weekends

Silver Options

Silver Options represent a financial instrument with a derivate from the silver value. Silver Options are available through the Chicago Mercantile Exchange under the SO symbol.

Silver Options

Can you use leverage / profit form price decrease? Yes, with a put option
What can be the important costs? Spread Commission
Ticker(s) of silver option SO
Further things to consider Great risk management tool if appropriately used

Silver Futures

Silver futures are financial contracts that allow investors to transact an asset at a specific future price and date. These are complex products, which is why only professional traders should use them.

Silver Futures

Can you use leverage / go short Yes
What can be the important costs? Spread Commission
Ticker(s) of silver futures SI (+month and year)
Further things to consider Liquidity is high, high margin requirement

Silver Spot Forex

Silver spot forex represents a spot commodity linked to the value of silver and traded against the US dollar. The leverage on XAGUSD is 1:10. Trading on margin and leveraged trading strategies is risky. Read our in-depth reviews to learn more about brokers and online trading.

Silver Spot Forex

Can you use leverage/go short? Yes
What can be the important costs? Spread Commission SWAP (cost for holding a position overnight)
Ticker(s) of silver spot forex XAGUSD
Further things to consider Great risk management tool if appropriately used

Final Verdict

Silver ETF, silver CFD, silver options, silver futures, and silver spot forex are the main instruments available at Saxo Bank for investing in silver. Each comes with advantages and disadvantages depending on your trading skills and experience. Read our in-depth reviews to discover more information on the asset portfolio available at Saxo Bank.

Disclaimer

eToro is a multi-asset investment platform. The value of your investments may go up or down. Leveraged and speculative product. Not suitable for all investors. You should consider whether you can afford to take the high risk of losing your money. Capital is at risk. Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision. Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. Crypto assets are unregulated& highly speculative. No consumer protection. Capital at risk.
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