In this article you get help with:
- How to withdraw funds
- How to register a new account to use for withdrawals
- How long does it take to process an account withdrawal?
- Corporate clients
How to withdraw funds
To withdraw funds from your Saxo account:
- SaxoTraderGO: click Withdraw funds
- SaxoInvestor: click Withdraw funds
Or follow the steps below:
- Go to the main menu > Deposits and Transfers
- Click Deposits and Transfers
- Click the Withdraw funds tab
- Select the Saxo account you want to withdraw money from
- Enter the Withdrawal amount and the currency
- Select your External account - If there are no External accounts in the menu, read the following: How to register a new account to use for withdrawals
- When done click Transfer
- An SMS with a code will be sent to your registered phone number and a confirmation window will pop up. If you don't get the code, follow the instructions provided in the confirmation window.
- Type in the code in the confirmation window and click Confirm
At Saxo, we take precautions to ensure your account is secure. For this reason, we only allow withdrawals to accounts that have been verified to belong to you.
Previously used and verified accounts will appear in the "External account" drop-down menu of your withdrawal module.
Note: MYR cannot be withdrawn from platform as it is a restricted currency. Please contact us for manual handling.
How to register a new account to use for withdrawals
Please read How to register a new account to use for withdrawals
How long does it take to process an account withdrawal?
Most of the time your withdrawal request is processed immediately and you shall receive the funds on the same day or next day. But do note that there could be delays for a number of reasons, for example:
- Incorrect payment details provided (for example, mismatches between the account numbers/names, wrong SWIFT code)
- Full withdrawals may require fee calculations as well as closure and settlement of open positions
- Unsettled transactions - check the value date (settling date) of the transactions in Trades
- The correspondent banks’ handling time
Corporate clients
The online withdrawal module is not available for Corporate Clients by default. To request it, please fill in the form SaxoGroup_Cash_Module_Form, return it to us through Contact us - Write to us.
Otherwise, please find following a link to the Funds Transfer Request Form required for withdrawing funds: Transfer Request Form.
The completed, signed form can be returned to us through Contact us - Write to us.