The value of your investments can go down as well as up. Losses can exceed deposits on margin products.

The value of your investments can go down as well as up. Losses can exceed deposits on margin products.

FAQ

What are the ISA Subscription limits?

The ISA subscription limit for 2017/18 is £20,000 The full amount can be invested either in a Stocks & Shares ISA or Cash ISA, or any split in between. It is possible to subscribe the full £20,000 allowance in to a Saxo ISA, which is a Stock & Shares ISA. Saxo does not offer a Cash ISA. It's important to remember that ISA accounts are based on current tax rules which are subject to change.

Who is eligible for a Stocks & Shares ISA?

To be eligible for a Saxo ISA you must be:

1) Over 18
2) Resident in the United Kingdom for tax purposes or, if not so resident, either perform duties which, by virtue of Section 28 of Income Tax (Earnings & Pensions) Act 2003 (Crown employees serving overseas), are treated as being performed in the United Kingdom, or are married to, or in a civil partnership with, a person who performs such duties.
3) Not have subscribed to another Stocks & Shares ISA in the same tax year.

Is there a minimum account size?

There is no minimum account size to open a Saxo ISA.

What investment products are eligible in an ISA?

It is possible to invest in Shares, ETFs, Investment Trusts and Bonds. When logging in to your Saxo ISA all available investment products are ISA eligible. ISA eligibility of individual investments is determined by the requirements prescribed by HMRC and whilst SCML provides access to multiple global exchanges, only ISA eligible shares will be available for trading on the platform.

Who is the Saxo ISA Manager?

The Saxo ISA, a Stocks & Shares ISA, is provided by SCML who is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422, with registered address: 26th Floor, 40 Bank Street, Canary Wharf, London E14 5DA and company number 7413871, in their capacity as an ISA Plan Manager no. Z1849.

How can I apply for a Saxo ISA?

To apply for a Saxo ISA you will need to complete our application form and read the relevant documents relating to the account. Both the Application Form and Important Reading documents can be found above.

Can I transfer an existing ISA to my Saxo ISA account?

Yes, it is possible to transfer ISAs from previous tax years and from other providers to your Saxo ISA. Once you have applied for a Saxo ISA simply complete our ISA transfer form and return it to our ISA Transfer Team at Saxo Capital Markets UK Ltd., 40 Bank Street, Canary Wharf, E14 5DA. Please note SCML will not charge a fee to accept your ISA account, however your current provider may levy an exit charge.

Is there an ISA administration fee?

No. Saxo does not charge any administration fees. Please download our Rates & Charges pdf for full details of SCML charges.

Can I manage ISAs alongside other investment accounts?

You can manage ISAs alongside other Saxo accounts but you will have separate logins for ISA, Trader and SIPP accounts held with Saxo. Saxo ISA accounts are maintained separately from other SCML Trading accounts and for the avoidance of doubt any cash or the value of any stocks held within a Saxo ISA cannot be used as collateral for margin trading.

Can I withdraw money from my ISA and is there a charge?

ISAs give you the flexibility to withdraw money from the account at any time and Saxo will not charge you to do so. However, please remember that when you withdraw money from your ISA, your annual allowance remains unaffected. This means, for example, that if you reach your annual subscription ISA limit during the current tax year and then make a withdrawal, the money cannot be deposited back in.

Saxo does not offer Flexible ISAs.

Can I transfer my Saxo ISA to another provider and what are the costs?

Yes, you can transfer your Saxo ISA to another provider. We will require a completed Transfer Form from your new provider. There is a transfer out fee of EUR 50 per ISIN, with a maximum charge of EUR 160. View our full ISA Rates & Charges here.

Closing your ISA

You can close your ISA whenever you wish and there is no charge for doing so. However, by closing your ISA you will lose the associated tax benefits. Please note that should you become ineligible to make an ISA subscription at a later date, for example by moving abroad, the ISA can remain open and the associated tax benefits will be retained.

 

IMPORTANT INFORMATION

The value of your investments can go down as well as up and you may not get back what you invested. Tax treatment depends on individual circumstances and is subject to change.

Please note, Saxo ISA accounts are maintained separately from other Saxo Capital Markets Trading accounts and for the avoidance of doubt any cash or the value of any stocks held within a Saxo ISA cannot be used as collateral for margin trading. ISA eligibility of individual investments is determined by the requirements prescribed by HMRC and whilst Saxo Capital Markets provides access to multiple global exchanges, only ISA eligible shares will be available for trading on the platform.

The Saxo Capital Markets UK Ltd website provides you with a range of tools and information to help you make informed investment decisions but does not provide investment advice and if you are in any doubt you should seek independent advice.

The Saxo ISA, a Stocks & Shares ISA, is provided by SCML who is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 551422, with registered address: 26th Floor, 40 Bank Street, Canary Wharf, London E14 5DA and company number 7413871, in their capacity as an ISA Plan Manager no. Z1849.

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