Granting access to your account: Power of Attorney vs creating a joint account

You may want to give another person access to your Saxo account for trading or account management. This can be done either by granting a Power of Attorney (PoA), where you remain the sole account owner, or by opening a joint account, where ownership is shared.

Granting a Power of Attorney (PoA)

A PoA is the authorisation given by the account owner to another person that allows them to access the account and perform actions such as placing trades, instructing cash withdrawals (to the holder's 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 through a PoA.
• 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 PoA 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 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 PoA can be issued per account at a time.
• 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 the authorised person place trades? Yes.
• Can the authorised person request cash withdrawals? Yes.
• Can the authorised person 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 the authorised person 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 holder setup.
• Who is eligible to be granted access? 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 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.