SAXO BANK Clients – Important Information
Due to the rapidly evolving business and regulatory landscape on a global scale, we have made the strategic decision to focus on specific regions. As a result, we will no longer be able to service clients residing outside our targeted markets.
At this time, our primary focus is to assist all affected Saxo Bank clients through this transition. Below, you will find essential information to facilitate a seamless offboarding process.
Timeline and important dates:
11th November 2024
Reduce-only restrictions will be applied to all accounts that have received the termination notice. You may still execute trades to close your existing positions, but opening new positions will not be permitted. We recommend that all clients make the necessary arrangements promptly to avoid any disruption to your trading activities and ensure the timely return of assets to you.
Here's what you can do:
- Close-off positions
Manage and close your existing positions. Thereafter, you can withdraw the funds to your bank account.- Transfer your assets
Continue to keep your securities by transferring them to another financial institution.
Request a securities transfer - Withdraw funds
Have your funds returned to and transferred back to your bank account.
Withdraw my funds
- Transfer your assets
- Historical Reports
Download and save your transaction records. You will not have access to these transactions once your Saxo account is closed.
Frequently asked questions
Transfer of securities
Withdrawal of funds
- Deposit a small amount of funds into your Saxo account from your bank account.
- This will register your bank account with Saxo.
- Once registered, you can withdraw funds to this same bank account.
- Fill out and submit the fund transfer request form.
- Provide bank statement of your receiving account: showing your name, bank name, and account number.
- Provide identification document (ID card or passport).
- Provide signature sample: If you have not previously provided a signature sample, please provide an official document with your signature, such as a signed passport, at the time of withdrawal.
• You can transfer your portfolio to another broker.
Saxo in APAC
No, Saxo Bank is not ceasing all operations in the APAC region. Saxo has announced the closure of its offices in Hong Kong and the cessation of services to clients in Mainland China and Taiwan, but will continue to operate in the APAC region. Saxo Bank's APAC regional hub in Singapore will maintain its operations in the region, primarily through this hub and one of its global offices in Singapore.