How to open a bank account in Saxo Bank A/S

GSL reference about the bank What is it?

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GSL rating

Beginning of cooperation

November, 2006

Last contact

December, 2024

Last update

August, 2024

the bank opens multicurrency settlement accounts;
SaxoBank is a platform for online trading of currencies, securities, derivatives and precious metals;
the bank does not allow operations with “leverage”, which increases the profitability of operations by 100 times;
does not charge commissions for opening an account when depositing or withdrawing funds from a client’s account, as well as for servicing a client’s account, but takes a commission for performing conversion operations;
initial payment – EUR 100 000;
to open an account, a personal meeting with a potential client is mandatory;
the term for opening an account – case by case (check with the consultant)

GSL rating

Beginning of cooperation

November, 2006

Last contact

December, 2024

Last update

August, 2024

Поиск консультанта...

+44 0 207 822 85 93

General information and rating

1 614

Global rating

10

Countrywide rating

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Countrywide rating of the head bank

—

Global rating of the head bank

Year of foundation

1992

History

Established as Midas Fondsmaeglerselskab A/S in September, 1992.In June, 2001 the company converted to EU regulated bank status and name changed as above

Personnel

The bank employs about 1 400 specialists. There are English-speaking staff

Bank’s shareholders

Saxo Bank is a private company, 50,89% owned by Geely Financials Denmark A/S, a subsidiary of Chinese automobile company Zhejiang Geely Holding Group Co, Ltd. Founder and CEO Kim Fournet owns 27,53% and Sampo Group owns 19,43% of the company's shares

Confidentiality

Double Taxation Agreement with Russia is signed; AML legislation is strictly observed; Active member of OECD, FATF, Basel Commitee, Egmont Group etc.

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Minimum requirements

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Minimum balance, €

—

Transactions permitted per month

100 000

Initial deposit of funds, €

N/A

Deadline for the initial deposit, month

Transactions permitted per month

The bank has no restrictions as to the number of transactions

Initial deposit of funds, €

The initial deposit is EUR 100 000

Deadline for the initial deposit, month

There is no deadline for making the initial deposit

How fast payments are executed

In real time

Tariffs and services

0

Outcoming transfer, €

0

Incoming transfer, €

0

Account maintenance, €/year

N/A

Payment limit for credit cards, €/day

Outcoming transfer, €

Saxo Bank does not charge any fees on outgoing transfers

Incoming transfer, €

Saxo Bank does not charge any fees on incoming transfers

Account maintenance, €/year

Saxo Bank does not charge any fees for account maintenance

Distant access to the account

All the modern (Internet) and traditional (telephone) account operation tools are available. The bank has SaxoTrader platform, which allows to trade any instruments offered by Saxo Bank

Financial products

A great variety of financial instruments: Forex – over 150 currency pairs (including USD/EUR); Forex options; Shares – over 9 200 types of securities; CFDs (contracts for difference); Futures – 440 futures contracts (power systems, metals)

Account opening procedure

Days to open for incoming transfers

Case by case

Days to open for outcoming transfers

Case by case

References

Not necessary

Purpose of the account

Current

Visit to the bank

To open an account, a personal meeting with a potential client is mandatory

Required

Filled in bank forms; copy of the client’s passport; client’s CV; standard set of corporate documents

Types of accounts

Current

Chances to open an account

Predictable

Business description

Relatively detailed: in addition to the description of the business, the origin of funds needs to be disclosed

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