How do I fulfill my margin call requirement?
You can fulfill the margin call through the following methods:
Cash payment can be made at the Head Office’s cashier counter.
EPS (Electronic Payment of Shares): Please choose ‘lump sum’ payment and initiate payments before 9pm to ensure that your CFD ledger is credited punctually before the next trading day. Kindly inform your trading representative that the EPS is meant for your CFD trading account. Applicable for 1st day Margin Call Only.
Cheque should be crossed and made payable to ‘Phillip Securities Pte Ltd’. Please state your trading account number, name and contact number on the back of the cheque, and indicate that this payment is meant for CFD. Cheque can be made payable at the Head Office’s cashier counter.
Liquidation of Shares in CFD: Clients can choose to liquidate their CFD holdings to fulfill margin call. The amount to be liquidated would be margin call amount * leverage amount (depending on margin requirement of the stock). For example, to fulfill a margin call of S$1,000, client would need to liquidate a contract value worth S$5,000 at time of liquidation for Equities CFDs of 20% margin requirement.
Internal Funds Transfer: You may also do an internal funds transfer from your other Phillip Securities Trading account to CFD.Did you find this question helpful? Please rate this answer: Page Views: 373