Third Party Withdrawal is Not Accepted
Please note that you can only withdraw funds from your trading account to a bank account held under your name. Saxo Markets is unable to facilitate funds transfers to or from third party accounts. This policy applies to both individual accounts as well as corporate accounts.
You can withdraw your funds from the SaxoTraderGO platform by following the steps on “How to Withdraw Funds Online”.
If you do not have access to the Online Cash Withdrawal Module, please download and submit the Withdrawal Form to us.
Saxo Markets does not charge any fees for withdrawals submitted via the Online Cash Withdrawal Module. However if you do have access to the Online Withdrawal Module but are submitting a withdrawal request via the manual Funds Withdrawal Form, a processing fee of SGD 50 will be applied.
Charges for Outgoing Transfers
In line with market practice, please note that Saxo Markets bears only the bank transfer charges for outgoing instructions disbursed from our end. As the beneficiary, you will receive your payment minus any applicable fees imposed by the correspondent (intermediary) bank and/or the receiving bank. As these fees may differ from bank to bank, please contact your bank representative directly for more details.
The above mentioned change has no impact on incoming funds from you to Saxo Markets.
|Withdrawal Currency||Method||Arrival Time*||General charges imposed by intermediaries of Saxo’s correspondent bank||Any other fees|
|SGD||MEPS||0 - 2 business days||Free||Free|
|USD||Telegraphic Transfer||1 - 5 business days||USD 25||Receiving bank or its respective intermediaries |
may levy a fee
|EUR||EUR 19.50 for HSBC Group bank accounts|
EUR 31.50 for others
|JPY||JPY 3,000 - JPY 50,000|
|CNH||CNH 10 -CNH 12|
*Arrival time may vary due to several reasons, including:
- a need to ensure there is sufficient margin (if utilised) left in the account before releasing the funds
- checks on accrued interest charges in the case of a full withdrawal (approx 95% of available cash or more)
- processing of accrued charges from the previous month
- additional checks related to anti-fraud or anti-money laundering measures implemented by intermediary/receiving bank(s).