Saxo will regularly ask you to update and verify your personal information. When this happens, you will need to fill out an online form directly on our platform.
Saxo will notify you when an update is required via email (remember to check your spam mail folder) or notification on your platform.
IMPORTANT: Please treat these requests as a priority. Failure to respond may result in account restrictions or even closure.
Following this first step, we may request additional documents and information (source of funds, additional information, tax identification number, ID, etc.).
How to access the personal information update form?
Log in to your account, click on My Profile > Update your personal information > Update account details
Or use these quick links:
- SaxoTrader: Click Update account details
- SaxoInvestor*: Click Update account details
Note:
*SaxoInvestor is currently available in Belgium, Denmark, France, the Kingdom of Saudi Arabia, the Netherlands, Poland, Qatar, Singapore, Switzerland, the United Arab Emirates, and the United Kingdom.
Why do you need to update your personal information?
Your safety and trust are of paramount importance to us. We do everything we can to make you feel confident as a client of Saxo, including protecting you and the bank against the risks of financial crime. As a financial institution, we are required by the law and regulators to implement policies and measures to prevent potential financial crime. These measures are applied both when new clients join us and throughout the client relationship.
What do we want to know?
To protect our clients' funds from financial crime, we need to know who our clients are and how they intend to use our services. We therefore sometimes need to ask you to update your information and possibly provide supporting documents, for example to verify the origin of your funds and assets. The type of documentation required varies according to your personal situation. Depending on the documents and information we receive from you, we may need to contact you by e-mail or phone to obtain further information. By helping us to keep your information up to date, you are helping to protect yourself and other clients from exposure to financial crime.
What if you don't answer?
If we are unable to update your information, it may affect how you can use our services in the future, ultimately reducing your functionality (i.e. you will not be able to open new positions). If we do not receive the information before the communicated deadline, we will inform you regarding the closing of your positions and your account.
How do we use and protect your personal data?
We use the information we receive to get to know our clients better and to fully understand our relationship with them. This helps us to ensure that we provide you with the right products and services. It also helps us protect your economic interests against exposure to financial crime. Your data will be stored and kept confidential in accordance with data protection legislation (GDPR). To find out more about the type of information we collect, what we do with it, and how you can correct or modify the information you entrust us with, please consult our privacy policy.
How often do we ask these questions?
Current regulations require us and other financial institutions to retain and update all information relating to our clients throughout the life course of your account, in order to make our services as secure as possible. We will update your information if we become aware of a change in your personal situation and, if not, then at regular periodic intervals.
Do we ask all our clients to provide information?
Yes, all clients must provide their personal details and relevant documents at the start of our relationship and keep them updated throughout their time as a client of Saxo.
How will we contact you?
Depending on the documents and information we receive, we may need to contact you for further information. This may be by email, phone or via a support ticket on the platform.