Once you request to transfer your securities out of your Saxo account, the securities that you have chosen will be immediately locked for processing. Please ensure that all related orders are cancelled prior to the transfer request.
This means that it will not be possible to reduce, close or elect on voluntary corporate action events for locked positions. You will still be able to open new positions for the same instrument, but these will not be automatically included in the transfer. If you attempt to reduce/close a position or try to elect for a corporate action event, you will get the message 'Position is blocked and cannot be closed'.
When you submit a transfer of securities out of your Saxo account, the securities stay visible in your portfolio until the assets are transferred to the new broker, allowing you to monitor that position in the timeframe between the request and the completion of the transfer.
What if I need to close or reduce the position now?
In order to close or reduce any position that is in the process of being transferred out of your account, the transfer request will need to be cancelled. To request the cancellation of your securities transfer, contact our Client Services team:
- Click here to contact us
- Select Portfolio and position transfers > Position transfers > Write to us
Note: Cancellation requests will not be processed instantly. Confirmation will be sent once the transfer request has been fully cancelled