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Funding Instructions

You can fund your account in a number of ways, outlined below.

Local SGD deposit, via:

Other methods/currencies:

Please note that Saxo Markets is unable to accept funds before account opening is approved and completed.

Click here for advice on avoiding unnecessary currency conversion fees.

 

FAST (SGD)

Funding DescriptionFast And Secure Transfer (local SGD transfer)
Transaction FeeNone
SpeedAlmost instant to within next business day
Transaction CurrencySGD
Transaction LimitUp to SGD 200,000 per transaction subject to your withdrawal limit set by your bank.
Bank info / Help guideClick here
Payment detailsAlways insert your Saxo ID in the Comments/Message to receiver/Bill Ref/Payment Details field

 

PayNow (SGD)

Funding DescriptionLocal SGD Funds Transfer. Pay to UEN for Saxo Capital Markets Pte. Ltd. UEN: 200601141M
Transaction FeeNone
SpeedAlmost instant to within next business day
Transaction CurrencySGD
Transaction LimitUp to SGD 200,000 per transaction subject to your withdrawal limit set by your bank.
Bank info / Help guideUEN: Click here
QR code: Click here
Payment detailsAlways insert your Saxo ID in the Comments/Message to receiver/Bill Ref/Payment Details field

Note: Please do NOT scan or transfer using Wallets such as DBS PayLah! or OCBC Pay Anyone. Use the Banking app itself instead e.g. DBS digibank etc. *Saxo will not be able to book funds through transfers through wallets such as PayLah! Or OCBC PayAnyone

 

MEPS (SGD)

Funding DescriptionLocal SGD Funds Transfer - Online or over-the-counter
Transaction FeeFees may be imposed by your bank and correspondent bank(s), if any
Speed1 to 2 business days, subject to individual bank's cut-off time
Transaction CurrencySGD
Transaction LimitSubject to the available balance in your bank account
Banking Information / processFor more information relating to funding in SGD MEPS, please click here.
Payment detailsAlways insert your Saxo ID in the Comments/Message to receiver/Bill Ref/Payment Details field

 

Cheque (SGD/USD)

Funding DescriptionCheques issued by banks located in Singapore
Transaction FeeFree-of-charge
(only if you pass the cheque to Saxo Markets)
Speed2 to 3 business days
Transaction CurrencySGD and USD
Transaction LimitSubject to the available balance in your bank account
Banking Information / processClick here

 

TT wire transfer (Major currencies)

Funding DescriptionTelegraphic Transfer for Overseas Funds or Foreign Currencies
Transaction FeeFees may be imposed by your bank and correspondent bank(s), if any
Speed2 to 5 business days, subject to the individual bank's cut-off time
Transaction CurrencySGD, USD, AUD, CHF, CNH, CAD, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK
Transaction LimitSubject to the available balance in your bank account
Banking Information / processIf you are paying into our account with HSBC Singapore click here.

If you are paying into our account with HSBC in New Zealand or Hong Kong click here.
Payment detailsAlways insert your Saxo ID in the Comments/Message to receiver/Bill Ref/Payment Details field

 

Card (credit/debit)

Funding DescriptionInstant Transfer via Card Module on SaxoTraderGO
Transaction FeePlease refer to our Credit and Debit Card Payment Factsheet
SpeedImmediate
Transaction CurrencySGD and USD
Transaction LimitPlease refer to our Credit & Debit Card Payment Factsheet
Banking Information / processFor further information on funding via credit/debit card payments, please refer to below link.
Credit & Debit Card Terms and Conditions

 

 

HSBC account holders

Funding DescriptionFor HSBC Singapore Account Holders - Online or over-the-counter
Transaction FeeFees may be imposed by your bank
SpeedUp to 2 business days, subject to HSBC Singapore's cut-off time
Transaction CurrencySGD, USD, AUD, CHF, CAD, CNH, DKK, EUR, GBP, HKD, JPY, NOK, NZD, SEK
Transaction LimitSubject to individual limits set by your bank
Banking Information / processClick here
Payment detailsAlways insert your Saxo ID in the Comments/Message to receiver/Bill Ref/Payment Details field

Before you fund your trading account with Saxo Markets, please ensure that your existing bank account has been opened under the same name (in the exact order, sequence and form) as the name which has been used to open your Saxo Markets trading account. You can only withdraw funds from your trading account to a bank account held under your name. Please instruct your bank to include your Saxo Client ID and Name in your transfer instructions.

Third Party Funding is Not Accepted

Saxo Markets does not accept incoming funds from any third party. Saxo Markets will only accept funds originating from a bank account held in the same name registered with Saxo Markets. This rule applies to both individual accounts as well as corporate accounts.

Funds received from any third party accounts will be returned (less bank charges) to the sender. The funds should typically reach the sender’s account within 5 to 10 working days, however, there may sometimes be a delay depending on the banks involved.

Unaccepted Forms of Payment

Saxo Markets does not accept Banker’s Drafts, Cash Deposits and remittances from Exchange Houses/Money Changers. Funds received from these payment channels will be rejected and returned to the sender (less bank charges, if any).

Currency Conversions:

If you transfer funds in a different currency from the currency of our HSBC account, your funds will be accepted and automatically converted to the appropriate currency by HSBC who will charge a non-refundable currency conversion fee. For example, if you send USD to our SGD account at HSBC, HSBC will convert your USD to SGD and credit our account.

If your funds are subsequently rejected by us (for example, for Third Party Funding or remittances from Exchange Houses/Money Changers), any currency conversion already carried out on your funds will not be reversed.

If you do not have a Saxo Markets account denominated in the same currency as our HSBC account that your funds have been transferred to, we will convert the funds to the appropriate currency when crediting your Saxo Markets account, and you will be charged a non-refundable currency conversion fee, as described in our Commissions, Charges and Margin Schedule. For example, if you send SGD to our SGD account at HSBC, and you only have a USD-denominated Saxo Markets account, we will convert your SGD to USD and credit your Saxo Markets account.

Remittance Charges:

Saxo Markets can and will only credit your account with the actual monies received on your behalf.

Remittance charges should be fully covered by the sender.

Rejected funds due to remittance received before the Due Diligence has been completed and you have received your account details or remittance received from Exchange Houses/Money Changers or any third party (including family members) will be returned to the sender less bank charges (if any).

IMPORTANT TO NOTE:

Request for Proof of Remittance

Please note that we are required under the Anti-Money Laundering rules and regulations to request and verify proof of remittance from our clients. Although such a request may not be made immediately upon making the bank transfer or credit/debit card payment, Saxo Markets reserves the right to request such proof at a later date. If the client is unable to furnish such proof of remittance within a reasonable period of time, we are entitled to limit or restrict the client's access to payment via internet banking transfer or credit/debit card funding.

Saxo Markets
3 Church Street, #30-00
Samsung Hub
Singapore 049483

All departments are available 08:30 to 17:30 Monday to Friday.

Singapore

Saxo Capital Markets Pte Ltd ('Saxo Markets') is a company authorised and regulated by the Monetary Authority of Singapore (MAS) [Co. Reg. No.: 200601141M ] and is a wholly owned subsidiary of Saxo Bank A/S, headquartered in Denmark. Please refer to our General Business Terms & Risk Warning to consider whether acquiring or continuing to hold financial products is suitable for you, prior to opening an account and investing in a financial product.

Trading in financial instruments carries various risks, and is not suitable for all investors. Please seek expert advice, and always ensure that you fully understand these risks before trading. Trading in leveraged products such as Margin FX products may result in your losses exceeding your initial deposits. Saxo Markets does not provide financial advice, any information available on this website is ‘general’ in nature and for informational purposes only. Saxo Markets does not take into account an individual’s needs, objectives or financial situation.

The Saxo trading platform has received numerous awards and recognition. For details of these awards and information on awards visit www.home.saxo/en-sg/about-us/awards.

The information or the products and services referred to on this website may be accessed worldwide, however is only intended for distribution to and use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. Products and Services offered on this website is not intended for residents of the United States and Japan. Please click here to view our full disclaimer.

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