If you wish to trade complex products as a retail client, Saxo wants to ensure that you have the required knowledge and understanding of the implications of dealing with those financial instruments.
This is especially required for trading more complex products such as Contract Options, Futures or CFDs.
To help us determine if a product is appropriate for you, you'll need to take the Product knowledge test. This test is required the first time you trade a complex instrument. Once completed, you will be periodically asked to renew the test.
After passing, you can trade these instruments based on the knowledge and experience demonstrated during the test. This ensures you only trade products where you have adequate knowledge and experience.
This article will cover the following topics:
How to take the test
The test needs to be taken directly from SaxoTrader or SaxoInvestor. You can take the test when enabling a new product from the product settings page.
- Navigate to the menu
> click Trading products
- Switch the toggle on for the desired product
- If this is a complex product, you will be prompted to take the test
You can also take the test by clicking on the message at the top of the trade ticket:
By clicking on the disclaimer, you will be directed to the assessment which consists of a handful of questions, and once complete, the results will be automatically processed and we will notify you of the result.
How to retake the test
To help ensure you have the knowledge and experience needed to understand the risks associated with complex products, we periodically ask you to renew your Appropriateness test (APT test).
Please follow the steps below to take the APT test(s):
- Navigate to the menu
- Click on “Go to test” for the relevant product, as shown below, and complete the APT test.
If you successfully complete the test, you will be able to trade the relevant product(s) immediately.
You have two attempts to pass the test. If your first two attempts are unsuccessful, there will be a 24-hour cooldown period before you can try again.
Where can I learn about the different products?
Saxo offers a variety of videos, articles, webinars and podcasts that cover the different trading products available, helping you to understand them better. Additionally, you can explore our free trading courses, which provide a beginner-friendly introduction to these products.