Due to the rapidly changing business landscape in the region, we have made the necessary decision to close our Hong Kong office.
In this time, our main priority is to support all impacted Saxo Capital Markets HK Limited (“SCMHK”) clients through this process. Below you will find important information to help ensure a smooth offboarding process.
If you want to login your account now, please click here.
If you forgot your ID or password, please click here.
Timeline and Important dates:
30th September 2024
SCMHK will stop the opening of new accounts.
1st November 2024
Restrictions will be placed on all SCMHK accounts. This means that you would be able to place trades to close off your existing positions but not open new ones.
We encourage all clients to make the necessary arrangements as soon as possible to avoid any disruption to your trading activities and the return of assets to you.
Here's what you can do:
- If you don't have positions, simply use Close my account module on the platform to withdraw and close account. How to close my account
- Close positions and withdraw all cash: manage and close your existing positions. From there withdraw the funds to your bank account and close account. How to withdraw
- Transfer out positions and withdraw cash: How to transfer securities
- Download reports: Please download the reports you may need. No access will be provided once account is closed. How to download reports
FAQ:
Accounts
What happens after the 1st of November when restrictions are placed on my account?
You will not be able to open new positions but will be able to place trades in order to close existing positions. Aside from this, you will still have access to most account features, this includes the ability to fund and manage your margin positions, and to add a bank account for withdrawal purposes.
Why is there no deadline as to when my account will be closed?
There is no deadline set for when Saxo will close your account. Our notification on 30th of September is to allow you prior time to manage your account prior to our official termination notice. Once the termination notice is sent, you will be given adequate time to manage your positions accordingly.
I forgot my User ID or/and Password. How can I access my account?
To retrieve your User ID or/and Password, you may refer to the following instruction here.
Transfer of securities
What are the costs of transferring my securities out of Saxo?
To ease your transition, Saxo is waiving our stock transfer fee until December 31 2024.
Can I transfer my securities to another person (e.g. Family member, company)?
Saxo does not accept transfer of securities to accounts not in your name.
The securities I am holding are non-tradable. How would I be able to close my position(s)?
You can get in touch with our helpful client service team using the different channels here.
The securities I am holding are de-listed. How would I be able to close my position(s)?
You will need to check with your financial institution if they would be willing to receive the securities. Alternatively, you can contact us here and our support team will provide you with an update on the status of your position.
Withdrawal of funds
Can I transfer my funds to another person (e.g. Family member, company)?
Saxo does not accept transfer of funds to accounts not in your name.
Are there any fees for withdrawal of funds?
Saxo does not charge any fees for withdrawals submitted via the online cash withdrawal module on the platform.
Can I receive all my remaining funds in Saxo via cheque/cash withdrawal?
Saxo does not issue cheques or offer cash withdrawal services.
If I do not have a valid bank account for withdrawal, what can I do to withdraw my funds?
Option 1 - Deposit Funds to Register Your Bank Account:
- 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.
Option 2 - Submit a Fund Transfer Request Form:
- Fill out and submit the fund transfer request form.
- Provide supplementary documentation to verify your bank details (e.g., a bank statement).
- Note that there will be a service fee of HKD300 for processing this manually from your Saxo account.
Saxo in APAC
Is Saxo Bank ceasing all operations in the APAC region?
No, Saxo Bank is not ceasing all operations in the APAC region. Saxo has announced the closure of its offices in Hong Kong and Shanghai but will remain present and continue operations in the APAC region.
Saxo Bank's APAC regional hub in Singapore will continue operations in the region, mainly through its APAC hub, and one of its global offices in Singapore.
If you are unable to find what you are looking for, please find the different ways you can contact us here and we will do our best to support you.