CFDs (or Contracts For Difference) are an agreement between two parties to exchange, at the close of a contract, the difference between the opening price of the contract and its closing price.

They are a financial instrument that allows you to speculate on the performance of assets such as stocks, indices, currency pairs, commodities and bond futures.

CFDs follow the price changes of their underlying assets and, therefore, their liquidity.

As CFD replicate their underlying assets, all corporate events are also replicated, such as distribution of dividends or capital increases.



For more information about CFDs, please refer to the KID and the Product Manual.


CFDs are complex instruments and present a high risk of losing money quickly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford the high risk of losing your money. 

Although the counterparty of the transactions is Saxo Bank A/S (entity that manages the platform, formulates the BID/ASK prices and executes the orders given) the Investors counterparty is Banco Carregosa, to whom all communications should be addressed.

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