Cancellation Saxo: Easy Method

What is Saxo

Overview

Saxo is an online investment and trading platform offering access to stocks, bonds, ETFs, forex and other instruments through desktop, web and mobile apps.

It operates a subscription-based pricing model in some markets and provides advanced trading tools, market data subscriptions and multiple account types.

Presence in Singapore

Saxo Capital Markets Pte. Ltd. operates in Singapore with local account servicing and regional product offerings tailored to Singapore clients.

Local rules, fees and support channels may differ from other jurisdictions; always check the Singapore help pages for region-specific procedures.

How to cancel Saxo

Close your master account (web or app)

• Open the main menu in the Saxo web platform or app.
• Go to Your account → Request account services → Click "Close my account".
• Before submitting: cancel open orders, close all positions, withdraw cash, and optionally download reports.
• See the official step guide: How do I close my account?

Close a sub-account or when Saxo initiates closure

• For sub-accounts (currency accounts, AutoInvest, etc.): go to Portfolio, select the sub-account and use the three-dots menu → "Close this account".
• Requirements: the sub-account must have no open positions, no open orders and a zero cash balance.
• If Saxo initiates termination for compliance or other reasons, they will notify you; failure to act may lead to access restrictions or forced liquidations. See: When an account needs to be closed.

What happens when you cancel

Access and account state

Once a closure request is accepted, you will lose trading access for the closed account or sub-account.

If obligations remain (open trades or cash), Saxo can restrict access and may liquidate positions at market prices after notice.

Data, statements and records

Download any reports or tax statements you need before closing; access to historical reports may become limited after closure.

Keep copies of trade confirmations, withdrawal receipts and any correspondence related to the closure for your records.

Will I get a refund?

Subscriptions and digital products

Saxo Be Invested (separate product line) offers a 14-day money-back guarantee for subscriptions and digital products.

After 14 days refunds for subscriptions are generally not available except possibly on a case-by-case basis; check Saxo's published terms.

Reference: Saxo refund policy excerpt.

Other refund situations and exclusions

• Erroneous duplicate deposits: may be refunded if requested within 7 days and funds have not been used for trading or margin; refunds go back to the original payment method.
• Trading losses are not refundable.
• Technical-issue refunds are considered case-by-case depending on impact and prompt reporting.

Saxo plans and pricing

Pricing table

Notes on fees and data

These are monthly subscription fees for Saxo's bundled pricing plans in Singapore (sources include Saxo press releases and reviews).

Market-data subscriptions per exchange (for example SGX Level 1) are extra and charged separately.

Your consumer rights in Singapore

Cooling-off and refund rules

The common 14-day 'cooling-off' period in Singapore typically applies to insurance and certain advisory agreements, not automatically to trading platforms.

Saxo Be Invested’s 14-day refund window applies only to subscriptions/digital products; trading transactions are excluded.

Complaint channels and escalation

File formal complaints via Saxo's Help Center or in-platform complaint submission channels if you experience lockouts, withdrawal delays or disputed actions.

If you believe your rights are compromised and internal resolution fails, consider escalating to regulatory authorities such as the Monetary Authority of Singapore.

Customer experiences

Positive feedback

Many Singapore reviewers praise Saxo's customer support for promptness, knowledge and helpfulness with account opening, deposits and live chat/phone assistance.

Positive mentions often highlight specific support staff and fast resolution for routine issues.

Negative feedback

Common complaints include prolonged account lockouts tied to KYC/compliance requests, delayed withdrawals or cash trapped in sub-accounts, and perceived opaque fees.

Users also report occasional technical problems impacting market data, order execution and order persistence.

Documentation checklist

Identity and residency

• Valid passport or national ID.
• Proof of Singapore address (utility bill, bank statement) dated within required timeframe.

Source of funds and activity

• Bank statements showing deposit sources and recent activity.
• Employment or income proof where requested (salary slips, employer letter) - compliance may request multiple months.

Common mistakes

Before cancelling

Failing to close positions or cancel orders is a frequent error; accounts with open trades or a non-zero cash balance cannot be closed and may be restricted or liquidated.

Always withdraw cash to your nominated bank account before initiating closure to avoid complications.

During cancellation

Not downloading tax reports and trade confirmations before closure can leave you unable to retrieve needed records later.

Also avoid assuming refunds for trading losses or that subscription refunds apply to trading charges; these are generally excluded.

Comparative recap

At-a-glance comparison

How to use this recap

Use the table to quickly check cancellation steps, refund windows and where fees may apply before you decide to close an account.

Confirm details on Saxo’s help pages or with support for the most current, account-specific information.

After cancelling

Next steps

• Keep copies of final statements, withdrawal receipts and any closure confirmation emails.
• Monitor your bank account for refunds or final transfers; allow processing time as indicated by Saxo.

Where to get help

• Official closure instructions: How do I close my account?
• Information about forced closures and obligations: When an account needs to be closed
• Refund and policy notes: Refund policy summary

Address

Official Singapore office

Saxo Capital Markets Pte. Ltd.

88 Market Street, CapitaSpring #31-01, Singapore 048948

Mailing and notes

Use the office address for formal correspondence and keep records of any mailed complaints or documents.

If you need regulatory guidance, consider contacting the Monetary Authority of Singapore for complaint escalation after exhausting Saxo’s internal channels.