Protection of retail client funds
Depositor and Investor Guarantee Scheme
Saxo is a member of the Danish Depositor and Investor Guarantee Scheme (DGS). Under the DGS, the Danish Guarantee Fund covers depositors’ registered cash deposits up to an amount equivalent to EUR 100,000 per depositor in case Saxo becomes subject to resolution proceedings or bankruptcy proceedings.
Saxo has a regulatory obligation to protect its client assets, and as a general rule, client financial instruments, such as stocks and bonds, will therefore be returned to clients in the event Saxo becomes subject to resolution proceedings or bankruptcy proceedings. Nevertheless, if Saxo fails to return financial instruments belonging to investors in a resolution or bankruptcy scenario, the Guarantee Fund will cover losses suffered by an investor up to the equivalent of EUR 20,000. An investor will, however, only receive coverage up to an amount equalling the value of the financial instruments which could not be returned to the investor by Saxo.
The DGS and the Guarantee Fund are administered by Finansiel Stabilitet which is an independent public company owned by the Danish state through the Danish Ministry of Industry, Business and Financial Affairs. Financial companies in Denmark such as credit institutions, investment firms, and branches of non-EU-based credit institutions are required by law to participate in—and pay contributions to—the DGS.
The DGS covers deposits from all clients of Saxo’s parent company, Saxo Bank A/S, and its UAE, Czech Republic, French, Belgian, and Dutch branches, excluding deposits from certain financial companies such as financial institutions, insurance companies, and pension funds. Clients of Saxo’s subsidiaries in Switzerland, Italy, the UK, Australia, Japan, and Singapore should visit their local Saxo websites for country-specific information: select the globe icon drop-down menu from the top right (under the main menu on mobile) and choose your country.