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How to Buy/Sell Silver On Saxo Bank

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Saxo Bank is a good fit for advanced traders looking to buy or sell silver. Saxo Bank is a leading online broker in 2021 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.

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 considerLiquidity 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.

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 CFDTicker of the underlying asset, e.g. XAGUSD, SLV
Further things to considerSilver 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.

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 optionSO
Further things to considerGreat 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.

Can you use leverage / go shortYes
What can be the important costs?Spread Commission
Ticker(s) of silver futuresSI (+month and year)
Further things to considerLiquidity 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.

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 forexXAGUSD
Further things to considerGreat 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.

Saxo Bank compared to other brokers:


Methodology 

The mission of Business24-7 is to provide comprehensive, unbiased ratings and reviews of online providers. User experience, the mobile experience, customer service, costs and fees, security, the quality of trade executions, the products available on their platforms are all part of our six-month evaluation of a providers’s platform. The rating scale was based on thousands of data points that have been weighted into the scoring system.

Providers were also required to fill out a multi-point survey regarding every aspect of their platform. In-person demonstrations and evaluations were provided by the majority of the online providers we reviewed.

Stefan Grasic, along with our team of industry experts, conducted our reviews and developed this methodology for ranking what form is used in online investing.

Business24-7 maintains high editorial standards and provides the best advice and recommendations. The products and companies that we review may compensate us when you click on the links on this website. Click below to find out more about our review process and methodology.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

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