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Frequently Asked Questions About Saxo Bank

Protection of clients’ funds

  • SAXO BANK IS A MEMBER OF THE DANISH GUARANTEE FUND

    If a Danish bank (including Saxo Bank) suspends its payments or declares itself bankrupt, the Fund guarantees the deposits of clients up to 100.000 euros for cash deposits. The cash deposits are calculated as the net free deposit after deducing any debt with the bank.

    As a general rule, the values won’t be affected by the suspension of payment or forced liquidation, and will be returned to the client. If a Danish bank (including Saxo Bank) cannot return the securities within his custody, managed or arranged, the Guarantee Fund will cover up to 20.000 EUR per client.

Costs and conditions

  • WHAT ARE THE TRANSACTION COSTS?

    Access our section about Prices.

    In your demo account you can consult the detailed costs per asset in the section Account / Trading Conditions.

  • IS THERE ANY ACCOUNT MAINTENANCE COST?

    The account doesn’t have annual maintenance costs.

    For account with stock, ETFs/ETCs or bond positions, a 0.12% annual custody commission will apply. It is calculated daily using the end of day values, charged monthly and with a minimum of 5 EUR.
    Tabla: custody commission annual fee  -  minimum monthly fee.

     Custody comission annual feeMinimum monthly fee
    Acciones y ETFs / ETCs0,12%EUR 5.00
    Bonos0,12%EUR 5.00
  • WHAT IS THE MINIMUM DEPOSIT TO OPEN AN ACCOUNT?

    The minimum to open an account is USD 2,000.

  • CAN I ACCESS REAL TIME MARKET PRICES IN MY LIVE ACCOUNT?

    The real time prices require a subscription to the stock markets in which you want to trade. This subscription has a monthly cost which will be debited from your account automatically.
    In the platform you can see such fees in Account / Subscriptions / Manage subscriptions.

    By default all instruments have a 15 minute delay in their prices. Forex and index and commodities CFDs have real time pricing for free.

Account opening

  • HOW TO OPEN AN ACCOUNT?

    To open an investment account with Smart Investment access the following link: Abrir Cuenta.

  • HOW LONG DOES IT TAKE TO OPEN AN ACCOUNT?

    If every document you sent matches the specified document requirements, you must wait for your request to be processed in the next 2 business days for a private account. Make sure you send the documents to the right address to avoid delays..

Cash and securities transfer

  • HOW CAN I DEPOSIT FUNDS INTO MY ACCOUNT?

    Select one of the funding methods we currently offer:

    1.    Credit / Debit Card
    2.    Funding Instructions for a bank transfer
    3.    Securities transfer (stock transfer)


    1. Credit or debit card


    1.    Choose the card type that you wish to use followed by the total amount you would like to transfer
    2.    Enter the following card information in the correct fields: card number, card owner’s name, expiry date, security code (cvv/cvc) and billing address. You can then complete the transfer by clicking on ‘Make Payment’.

    2. Bank transfer


    You will need your unique Saxo Bank account information in order to fund through a bank transfer.
    If you’re transferring from an international bank:
    •    IBAN number
    •    Saxo Banks SWIFT: SAXODKKKXXX
    •    Account holder/receiver: your full name and address
    If the transferring bank requires more information (such as information on the intermediary bank), then it can be found in the same place.

    Note: Only transfers between mirror accounts (same name accounts) will be accepted. No third party transfer will be accepted.

    3. Securities transfer


    To transfer your stock portfolio to Saxo and use it for collateral trading go through the five steps needed to complete the transfer. Please be aware that it is only possible to transfer stocks that are registered in the same name as the Saxo Bank account holder.

    Note: Stock transfer can take some time to process, as the request needs to also be processed by your current portfolio holder when Saxo contacts them on your behalf.

  • HOW TO WITHDRAW FUNDS FROM MY ACCOUNT?

    You can request a transfer in two different ways:

    - Directly from your account in the section Account / Withdraw funds. You must complete the fields with the beneficiary information.

    - CFiling the following form and sending it to the contact mail (contacto@smartinvestment.trade) with the subject “Transfer request”.

Claims

  • HOW DO I FILE A FORMAL COMPLAINT?

    To make a claim, please complete the form you can find below to download. In the next 72hs you will receive a notification. We will reply to your complaint in the following 15 days since the receipt. If you would like to have a following investigation, or involve a international institution, we will request an extension and will give you an estimated reply date with the compromise of doing what is in our reach to satisfy your claim.

    Download Form

Offices
  • Uruguay

    Av de las Americas, 7777
    Unidad 201 - Block A
    Faros de Carrasco (11500)
    Canelones - Uruguay
    + 598 2601 4555
    Business hours: 10:00 - 17:00 Monday to Friday

    Oficina Zonamerica
    Ruta 8 Km17500
    Edificio Biotec
    BC102 , Of 10 (91600)
    Montevideo - Uruguay
    + 598 2518 2730
    Business hours: 10:00 - 17:00 Monday to Friday

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