Yes you can do it from Saxo platforms.
- SaxoTraderGO: click Request currency sub-account
- SaxoInvestor: click Request currency sub-account
Or, log in to your account go to the main menu > Request new accounts > Request currency sub-account.
You can also open a sub-account in the same currency as your existing account.
You can open 4 sub accounts at most.
If you open MYR sub account, a special notice will be shown:
The Malaysian Ringgit (MYR) is a restricted currency and you will not be able to convert MYR to another currency (or vice versa) via Saxo’s platforms. We can only accept transfers of MYR to/from an onshore MYR bank account held in Malaysia. You may only use MYR held in your Saxo account for the trading of equities listed on the Bursa Malaysia and not for any other transactions on your Saxo account.
For all sub accounts creation, please note:
1. When you do not have funds in one sub account while you have funds in other accounts, and you trade cash products like stocks in the sub account that doesn't have funds, the system will allow you to trade but this sub account will become negative balance and interest will be charged. How interests are calculated. It's recommended to transfer funds into the new sub account first before you do trades in cash products.
2. When you deposit funds into the sub account from external bank accounts, please check the funding instruction at Deposits&Transfers. The new sub account may have a different bank account number from the existing account(s) for you to fund. Please choose the correct account you want to deposit funds and check the funding instruction accordingly. Please refer to how to fund.
3. You can easily transfer funds between sub accounts (except MYR sub account). Simply go to Deposits&Transfers >Sub-account transfer. How to transfer funds between sub accounts
If you transfer from SGD account to USD account, you can choose to transfer for example 100 SGD over to USD account. The transfer window will tell you how much you will receive in USD account.
Or if you want to receive exactly 100 USD in your USD account you can choose to transfer 100 USD over and the system will deduct the right amount of SGD from SGD account. Simply choose the right currency and amount you want to transfer/withdraw.
The indicative conversion rate will be clearly shown when you transfer. A 0.25% conversion fee is included in the conversion rate already. You can read more on conversion fee on our website.