Segregation and Client Funds
What does “segregated accounts” mean?
In accordance with sections 16, 17, 26 and 27 of the Securities and Futures (Licensing and Conduct of Business) Regulations issued by the Monetary Authority of Singapore, Saxo Markets is obliged to hold money received from clients and assets held on behalf of clients in accounts separated from the company’s own money and assets.
All funds deposited by clients with Saxo Markets will be kept in a segregated client funds account in accordance with the above regulation. Securities held by clients with Saxo Markets are equally kept in segregated custody accounts.
How are my money protected in the event of Saxo Markets bankruptcy?
Saxo Markets is required under Singapore laws to ensure that money received from clients are segregated from the company’s own money when held in a bank account.
In the unlikely event that Saxo Markets enters into liquidation, all funds in client trust accounts held with HSBC will not be affected by such a default and will remain for the benefit of the relevant client subject to deductions of charges and other costs due to Saxo Markets.