What's the cheapest way to fund a Saxo account in USD?

[Update as of 17 Aug: I gave SAXO a call about funding and withdrawing with my Revolut acct. It was clarified that they still accept transfers from Revolut, but you will have to make sure that your Revolut acct is under the same name as your SAXO acct. Otherwise, it will be categorized as third-party and funds will be refunded to the acct.]

Hi! I was faced with this issue too and read through all the other related threads. So I managed to try both Revolut and TransferWise and I thought others may find this info helpful.

As of my last transaction (in May 2020), TW offered a better exchange rate, but the outright fee that they display pretty much equalled the 2 methods. One thing that I encountered on top of the TW fee was this additional ~3.20 USD SWIFT payment network charge that hasn't been mentioned anywhere yet. You can read more in the link below.

Hope this was helpful! If anyone is keen, here's a referral link for TW (for fee free transfer of $900):

https://transferwise.com/invite/u/sebastiank815

https://transferwise.com/help/14/currencies/2946451/sending-us-dollars-to-countries-outside-the-us​​​

Update: Saxo doesn't seem to be accepting Revolut transfers anymore.

Tl;dr – Use Revolut.

I've tried both TransferWise and Revolut. Got charged both transfer fees and interbank fees for the former. And nothing for the latter. Only limit is that there is S$9K exchange/transfer limit per month for free acccount. Subsequent amount involve fees.

Open a Revolut account, fund your account with SGD (through credit card). Convert to USD and send to Saxo's bank account. Make sure your Saxo default currency is set in USD.​​​

Use safe & cheap Transferwise.

can use that even with other banks/brokers within your country