- June 27, 2021
- Posted by: ForexTradeOn
- Category: saxo Broker review
In some cases, you may want to close your Saxo Bank account. This can happen because one or more of the following points:
- You’re not able to trade anymore
- You find that the Saxo Bank broker is not suitable for you after some time trading.
- You don’t want to be charged with inactivity fees and have no intention to come back.
For these reasons and more, Saxo Bank provides an option to delete your account permanently.
Saxo Bank A/S accounts with no trading activity during a period of 6 consecutive months (180 days) have an inactivity fee up to USD 150 or equivalent in the account currency will be charged.
- Close any remaining open trades and orders in your account
- Then withdraw your money in the account.
Saxo Bank supports free withdrawal using only bank transfers. There’s no credit card option nor an electronic wallet option. The withdrawal process takes 1 business day in the best case scenario except for the bank transfers that may take several business days.
- The next step will be to print Account Statements and other relevant reports you need.
- Create a Support Ticket from where you request us to close your account.
- Please note that the demo account is deleted automatically after a specific period of time, but you need to close your live account if you want to be not charged with any inactivity fees.
- Saxo is obliged to keep your data for at least 7 years following the account closure due to legal requirements.