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.
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 UK nationality and have a bank account in the UK, you can request to add the UK as an additional approved country for deposits and withdrawals.
- For Malaysian nationals, note that you may apply for Singapore as additional country for deposits and withdrawals even if your country of residence is Malaysia.
- 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 platform from 01 July 2026.
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.
What if I had previously obtained approval to fund from another country besides my country of residence?
If you previously had an additional country approved alongside your country of residence, that approval will remain valid unless you request a change or an expiry date is set for your account. 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 you attempt to fund or withdraw from a country that is not your country of residence or that you have not had approved as your additional country, the payment will be rejected and the money sent back.
You will be informed that this additional country must be reviewed and approved before you can fund or withdraw from this country.
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