lundi 23 mars 2015
FXCM Australia joins other FXCM units in updated negative balances policy
Posted on 22:51 by nice news
FXCM Australia Limited (FXCM AU), today announced that it will be updating its Negative Balance Policy for new and existing clients in the near future. Existing clients should expect to receive more details about the updated policy in the coming weeks, which will include changes to the company’s master trading agreement and notice of when such changes are to take effect. New clients should be sure to carefully review the terms of any trading agreement proposed during the account opening process to determine the appropriate policy then available.
Last Week: FXCM UK amends client agreements to waive first $50,000 of negative client balances
The changes to the Negative Balance Policy will include the following, subject always to the terms and conditions provided in the client’s master trading agreement:
Proposed Policy: Clients subject to the Negative Balance Policy who incur negative balances in excess of US $50,000 (determined by aggregating all of the client’s negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time) will be responsible for and owe FXCM AU the value of the total negative balance above US $50,000, regardless of market conditions. Subject to certain exceptions, FXCM AU will waive the first US $50,000 of a client’s total negative balance (determined by aggregating all of the client’s negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time). This policy will apply to negative balances incurred during all market conditions, including exceptional market movements.
Specific Exceptions: Each client’s master trading agreement will detail all of the specific exceptions to the Negative Balance Policy. Some of the key exceptions to this policy include the following: negative balances incurred by legal entities (other than superfund accounts), omnibus relationships, white label relationships, Wholesale Clients
Last Week: FXCM UK amends client agreements to waive first $50,000 of negative client balances
The changes to the Negative Balance Policy will include the following, subject always to the terms and conditions provided in the client’s master trading agreement:
Proposed Policy: Clients subject to the Negative Balance Policy who incur negative balances in excess of US $50,000 (determined by aggregating all of the client’s negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time) will be responsible for and owe FXCM AU the value of the total negative balance above US $50,000, regardless of market conditions. Subject to certain exceptions, FXCM AU will waive the first US $50,000 of a client’s total negative balance (determined by aggregating all of the client’s negative balances across all accounts held by the FXCM group, incurred over a 24 hour period of time). This policy will apply to negative balances incurred during all market conditions, including exceptional market movements.
Specific Exceptions: Each client’s master trading agreement will detail all of the specific exceptions to the Negative Balance Policy. Some of the key exceptions to this policy include the following: negative balances incurred by legal entities (other than superfund accounts), omnibus relationships, white label relationships, Wholesale Clients
FXCM Australia joins other FXCM units in updated negative balances policy
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