Multi-asset investment specialist Saxo Bank has announced that after-hours forex account transfers will no longer be supported from mid/late June 2024.
Saxo Bank is making this change to minimize the risk of currency conversion errors contributing. Cross account transfers between currency accounts in the same currency (ie USD to USD account) will still be possible.
Forex trading hours (except AED, ILS, THB, RON) are 5.5 days a week, 24 hours a day, with the exception of the four currencies mentioned earlier. Account transfer restrictions between currencies will mainly apply on weekends and special holidays.
This change is not directly related to OpenAPI and no code changes will be required to use the affected endpoints in the future. If a sub account transfer is requested via OpenAPI during the time the Forex markets are closed, the Error Code “CrossCurrencyTransferNotAllowedWhenMarketIsClosed” will be returned.
Endpoints affected by this are:
- atr/v1/partner/cash transfers:
- cs/v2/cash management/interactive transfers: