Further InformationListed below are details of deposit and margin requirements, as well as our legal requirements under the Corporations Act. Deposit and MarginingEach time you open a position with us, you will be required to provide a cash deposit for that position (unless we agree otherwise). Your dealer will be able to confirm the exact amount of the deposit required at the time you open the position. The amount of deposit you will be required to pay will be a percentage of the transaction value. The transaction value of a bet is equal to its opening level multiplied by the stake per point. In addition, we may require you to make margin payments to cover your running losses on open positions. The amount of your running losses will be calculated across all open positions you have with us. We will telephone you to ask you to send an amount to cover these running losses, by telegraphic transfer or such other method as we agree with you. We may insist that large margin payments are made by telegraphic transfer, BPay or suchlike. If we cannot contact you by telephone, we will write to you to ask for the margin payment to be made. You should be aware that any failure by you to make margin payments when called for by us may result in your account being suspended and/or your positions being closed. More information about deposit and margin requirements can be found in the Customer Agreement (found within our Product Disclosure Statement) which is available on this website and which you will receive before you open your first position with us. Unless otherwise agreed, we shall at any time be entitled to require you to make additional deposit payments on open bets. Client moniesAs required by the Corporations Act, and unless agreed otherwise in writing with you, we will hold the money you pay to us for your positions as trustee in a segregated trust account with Westpac Banking Corporation, or such other bank as we may notify to you. Money held in this account will cease to be client money when it becomes due and payable to us. You are able to instruct IG to pay client money held by us to your account. The amount payable to you at any one time will be the cash balance on your account, less any losses on open positions and less any deposit requirements on open positions. You can instruct IG to pay money to you by cheque, which will normally be prepared and posted the same day. Alternatively, we can arrange for payments to be made to you by telegraphic transfer, which will normally be processed overnight. We do not pay interest to clients on money held by us as trustee. Any Questions?Freecall 1800 601 700 |
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