Granting access to your account: Letter of Authorisation vs. creating a joint account

You may want to give another person, such as your wife or husband, access to your Saxo account for trading or account management. This can be done either by granting a Letter of Authorisation (which may be called a Power of Attorney in some places), where you remain the sole account owner, or by opening a joint account, where ownership is shared.

You can compare the two setups and choose the one that best fits you.

Letter of Authorisation

A Letter of Authorisation is an authorisation given by the account owner to another person, allowing them to access the account and perform actions such as placing trades and instructing cash withdrawals (to the holder’s own bank account), etc.

• How and to who can I grant access to my account? You can request and grant access through the platform from your existing account. You can read more about how to give someone access to your account.
• Does the authorised person have a separate login? Yes.
• What are the identity verification requirements for the authorised person? Only the account owner is onboarded as a client. The person receiving the authorisation must also confirm their identity, but only as someone authorised to act on the owner's behalf (not as an account holder).
• Can the authorised person place trades? Yes.
• Can the authorised person request cash withdrawals? Yes, they can request withdrawals to the holder's registered account.
• Can the authorised person transfer cash from their own bank to the Saxo account? No.
• Can the authorised person transfer positions from their own accounts to Saxo? No.
• How many people can be granted access to the account? Only one person can be authorised per account.
• Who is the legal owner of the account? Only the account holder is the legal owner and the account is registered in their name.

Establishing a joint account

A joint account is a shared account held by two individuals, where both parties are legal co‑owners and have equal rights and responsibilities regarding access, trading, and account management.

• How is access granted? You can create a new joint account by applying together with the other person. Both applicants must be 18 years old when applying for an account. You can read more about applying for a joint account.
• Do both parties have separate logins? Yes.
• What are the identity verification requirements? Both individuals must provide full identity documentation and successfully pass all verification checks, as each becomes a legal account holder.
• Can both account holders place trades? Yes.
• Can both account holders request cash withdrawals? Yes.
• Can both account holders transfer cash from their own bank to the Saxo account? Yes, either joint account holder can transfer cash from their own bank account to the joint account. In some cases, a bank statement proving the transfer may be requested.
• Can both account holders transfer positions from their own accounts to Saxo? Only in specific cases. Transfers are allowed only if they are made from or to another account with the same joint account setup.
• Who can open joint account? Only first‑line family members are eligible to open a joint account together.
• How many people can be granted access to one account? A joint account can only have two account holders.
• Who is the legal owner of the account? Both individuals are legal co‑owners of the account, and the account is registered in both of their names.