TIER 1 · Danish FSA · FINMA · FCA +2Verdict 6.7 / 10 · #49
Saxo UPI deposit: does it work in India?
Short answerNot that we can confirm. Saxo doesn't publish UPI or any Indian rupee method on its public pages. Saxo is not on the RBI Alert List as of 24 Oct 2026; the RBI says the list isn't exhaustive.
The facts
UPI
Not confirmed
All deposit & withdrawal methods
Bank wire
Crypto (USDT)
Not published
Withdrawal time
Not published
RBI Alert List
Not listed
Data as of 2026-10-24, from Saxo's own site and the sources on its full review. RBI list: RBI press release 2025-2026/1530, 19 Nov 2025.
Questions
Can I deposit to Saxo with UPI?
Not that we can confirm. Saxo doesn't publish UPI or any Indian rupee method on its public pages.
Can I withdraw from Saxo to my Indian bank account?
Saxo doesn't publish Indian withdrawal details. Published methods: Bank wire.
Is it legal to fund Saxo from India?
Saxo is not on the RBI Alert List as of 24 Oct 2026; the RBI says the list isn't exhaustive. Under FEMA, Indian residents may trade forex only in permitted forms on authorised platforms.
Which forex brokers accept UPI?
Brokers where we've confirmed UPI include Exness, Octa (OctaFX), XM, STARTRADER, Xellion Markets. Check each one's RBI Alert List status before funding.