Saxo Bank Updates OpenAPI Onboarding Requirements

Saxo Bank OpenAPI Updates introduce enhanced onboarding standards, including additional compliance fields and mandatory documentation requirements for new clients. The changes will take effect on January 1, 2027, and will impact firms, partners, and developers who use Saxo Bank’s Client Management Service. Under the updated requirements, Saxo Bank will require three additional fields within the RegulatoryInformation, FactaDeclaration object in the “/cm/v1/signups” endpoint. 

These new fields include “ConsentForTaxRelief,” “UsExpiryYear,” and “UsTaxDocumentation.” As a result, organizations integrating with the OpenAPI must update their systems to accommodate the new data requirements before the implementation date. Furthermore, Saxo Bank will introduce two new document types in the “/signups/attachments” endpoint under SignupFlowDocumentType. These document categories, “UsTaxForm” and “CrsStatus,” will become mandatory parts of the onboarding process for relevant clients. 

Saxo Bank Updates OpenAPI Onboarding Requirements

Consequently, developers and partners must ensure their onboarding workflows support the submission and processing of these documents. The OpenAPI serves as the technological backbone of several Saxo Bank trading solutions, including SaxoTraderGO. Through this infrastructure, users gain access to a wide range of resources and functionalities required to build advanced multi-asset trading platforms. In addition, the OpenAPI enables stronger integration between Saxo Bank and its partners through services such as the Onboarding API. Clients use the OpenAPI in several ways. 

For example, they can build portfolio analysis tools, export account balances and positions into external applications, and develop native apps that provide real-time market data and account performance updates. Moreover, traders can create customized trading interfaces tailored to specific instruments and trading strategies. Meanwhile, introducing brokers and white-label partners can integrate positions, balances, and order data directly into their own client portals. 

They can also embed trading functionality into existing websites and simplify client onboarding through the IB On-boarding API. At the same time, developers of professional trading and chart-analysis platforms can connect their software to Saxo Bank’s extensive client base, access portfolio information, deliver personalized analytics, and offer trading capabilities directly through their applications. 

Also, check out Stock Brokers Reviews for the latest enhancements and take your trading to the next level!