SAXO CAPITAL MARKETS HK LIMITED Clients – Important Information
Due to the rapidly changing business landscape in the region, we have made the necessary decision to close our Hong Kong office.
In this time, our main priority is to support all impacted Saxo Capital Markets HK Limited (“SCMHK”) clients through this process. Below you will find important information to help ensure a smooth offboarding process.
Timeline and Important dates:
30th September 2024
SCMHK will stop the opening of new accounts.
1st November 2024
Restrictions will be placed on all SCMHK accounts. You can still place trades to close off your existing positions, but cannot open new ones. We encourage all clients to make the necessary arrangements as soon as possible to avoid any disruption to your trading activities and the return of assets to you.
Here's what you can do:
- Close-off positions
Manage and close your existing positions. Thereafter, you can withdraw the funds to your bank account.- Transfer your assets
Continue to keep your securities by transferring them to another financial institution.
Request a securities transfer - Withdraw funds
Have your funds returned to and transferred back to your bank account.
Withdraw my funds
- Transfer your assets
- Historical Reports
Download and save your transaction records. You will not have access to these transactions once your SCM HK account is closed.
Frequently asked questions
Transfer of securities
Withdrawal of funds
- Deposit a small amount of funds into your Saxo account from your bank account.
- This will register your bank account with Saxo.
- Once registered, you can withdraw funds to this same bank account.
- Fill out and submit the fund transfer request form.
- Provide supplementary documentation to verify your bank details (e.g., a bank statement).
- Note that there will be a service fee of HKD300 for processing this manually from your Saxo account.
Saxo in APAC
No, Saxo Bank is not ceasing all operations in the APAC region. Saxo has announced the closure of its offices in Hong Kong and Shanghai but will remain present and continue operations in the APAC region.
Saxo Bank's APAC regional hub in Singapore will continue operations in the region, mainly through its APAC hub, and one of its global offices in Singapore.