Saxo will regularly ask you to update and verify your personal information. When this happens, you will need to fill out an online form directly on our platform.
Saxo will notify you when an update is required via email (remember to check your spam mail folder) or notification on your platform.
| IMPORTANT: Please treat these requests as a priority. Failure to respond may result in account restrictions or even closure. |
Why are we asking you to update your client information?
Your safety and trust are paramount to us and as a regulated financial institution, we are required to establish policies and measures to prevent any potential financial crime abuse. These measures are applied both - when you join us as a client and throughout our relationship.
We need to know who our clients are and how they intend to use our services. Therefore, from time to time we may ask you to update your client information and potentially supply supporting documents, e.g., to update the residential address, provide the latest proof of identity or verify your source of funds and wealth.
We will also update your information if we become aware that your personal circumstances have changed.
The kind of documentation needed varies depending on your type of client relationship and your personal circumstances. Depending on the documents and information we receive from you, we might need to contact you via email or platform notifications for additional information.
What happens if you do not answer?
If we are not able to update your information, it may affect how you can use our services in the future, putting your account on reduced exposure (meaning that you will be unable to add funds to your account or open new positions) or at risk of terminating the account.
Do we ask all our clients?
Yes. When we start a new relationship with a client, we need to get to know them, which means asking for their personal details and documents. We also check and update this information during our relationship, no matter who the client is or how long they have been with us.
How do we protect your personal data?
The success of our business depends on our ability to maintain the trust of our clients. Your data is stored and kept confidential in accordance with the legislation on the protection of personal data. To find out more about the type of information we gather, what we do with it, and how you can correct or modify the information you entrust us with, please see our privacy policy.
How will we contact you?
Depending on the documents and information we receive, we might need to contact you for additional information. This happens mostly via email or a platform notification.