When you fund your account or withdraw from your account, the transfer normally needs to come from a bank account in your country of residence. This helps us verify the payment and keep your account secure.
Your first deposit must be made from a bank account in your country of residence.
Another country may be approved if:
- You are a national of the additional country you're requesting. For example, if you live in Singapore but also hold Malaysian nationality and have a bank account in Malaysia, you can request to add Malaysia as an additional approved country for deposits and withdrawals.
- You reside in Malaysia. You may apply for Singapore as an additional country for deposits and withdrawals, even if you are not a citizen of Singapore.
- Your country of residence and the additional country are both within the EU or EEA (which may include Greenland, Faroe Islands, Switzerland, and United Kingdom. You can find a list of countries in platform).
Platinum and VIP clients can have other countries approved as well subject to manual assessment. This could be, but is not limited to situations such as:
- You have a business in another country.
- You support family members abroad.
- You frequently work or travel there.
- You maintain a second home.
- You hold a bank account for legitimate EU/EEA mobility reasons.
Note: Approval is not guaranteed, and requests may still be rejected based on client information, security considerations, and risk requirements.
Why is approval required?
As a regulated financial institution, Saxo continuously evaluates the type of business we do and where we do it. This evaluation takes place in an ever‑changing environment, where international and local rules and regulations increase complexity.
To ensure the best possible client experience and an optimal level of service, Saxo applies a risk‑based approach when servicing clients. This means that all requests to add an additional funding country are reviewed individually.
How do I add or change my additional funding country?
To change or add your additional funding country, you can submit a request by completing the Expected Transactions Profile (ETP) form and provide the necessary Source of Funds documentation. Please note that your request is subject to approval. This form will be available on the platform from 1 July 2026 and cannot be provided earlier.
How many countries can I fund or withdraw from at one time?
You can fund and withdraw from up to two countries at the same time: your country of residence and one additional approved country.
This limit is based on the number of countries, not the number of bank accounts. Within each approved country, you can still use multiple bank accounts.
What if I had previously registered a bank account to fund from another country besides my country of residence?
If you had previously registered a bank account outside your country of residence, please note that the registered bank account will be marked invalid from 22 July 2026. To ensure it remains valid, you must submit a request via the platform by completing the Expected Transactions Profile (ETP) form, which will be available from 1 July 2026.
If you have never registered a bank account in your country of residence with us before, funding will not be possible from any other non-resident bank accounts from 1 July. Funding from previously registered non‑resident accounts will be rejected. The first funding must come from your country of residence. However, withdrawals to those already registered accounts will still be possible until 21 July 2026.
If you request and receive approval for a new additional country, the previously approved additional country will be removed and replaced. Requests to change your additional country is limited to one time annually. If the new country is not approved, you will continue to be able to fund and withdraw from the previously approved country.
Any transfers to your Saxo account from outside your country of residence and this additional approved country will no longer be possible.
What if I try to fund from a country that I haven't gotten approved?
If funding is attempted from a country that is neither the country of residence nor an additional country approved by Saxo, the payment will be rejected and the funds returned.
You will be informed that this additional country must be reviewed and approved before you can fund or withdraw from this country.
Can I fund my account using a neobank (e.g. Revolut or Wise)?
See: Can I fund my account using a neobank?
Can both account holders of a joint account apply for an additional country for funding?
How do I know which account tier I am in?
All our clients are tiered based on activity level and/or the assets in your account. You can also check your account tier and points in platform by going to:
- SaxoTrader: Saxo Rewards
- SaxoInvestor: Saxo Rewards
- SaxoTrader for desktop: My Profile > Your account > Saxo rewards