UK investors using Saxo can now fund their accounts instantly and directly from their bank, as the multi-asset investment platform expands its payment options for UK clients.
Saxo’s new instant funding feature allows eligible users to deposit money in real time using supported instant payment methods, with funds typically credited within seconds and available to trade immediately. Saxo said the update is designed to reduce delays between spotting market opportunities and placing trades, particularly during periods of increased volatility. In some cases, payments may take slightly longer if additional checks are required.
Instant funding is accessed directly within Saxo’s trading platforms, including SaxoInvestor and SaxoTrader, and uses secure open-banking technology to connect a client’s bank account and approve payments.
Alongside instant funding, Saxo continues to support more traditional bank transfers. UK clients can fund their accounts via local GBP bank transfer, which typically takes a few working days to clear. Saxo advises investors to use its local UK bank details and ensure payments are made from an account held in the same name, as third-party transfers are not accepted. Bank transfers can also be used to fund ISA accounts, provided the correct ISA account reference is selected.
Debit card funding is also available, but with notable restrictions. Initial account funding must be completed via bank or wire transfer, with debit cards only available for subsequent deposits. Stocks and shares ISA accounts cannot be funded by debit or credit card, and card payments are subject to security checks, transaction limits and restrictions on the number of registered cards.
Saxo also warns investors to be mindful of potential costs when funding accounts. Currency conversion fees may apply if the sending and receiving currencies do not match, while international transfers may incur charges from intermediary banks, which are outside Saxo’s control. The firm recommends sending funds in the same currency as the receiving account to avoid unnecessary fees.
The funding update comes as Saxo continues to compete in the UK investment platform market, offering access to more than 71,000 instruments across global stocks, ETFs, bonds and funds, with no minimum investment and no monthly platform fee.
Saxo supports more than 1.5 million clients globally and is authorised and regulated in the UK by the Financial Conduct Authority. As with all investing, the firm reminds clients that capital is at risk and investment values can go down as well as up.
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