Margin requirements may fluctuate from day to day. Therefore, it is the client’s responsibility to keep himself informed of current margin requirements and to be properly margined at all times. If the equity of your account falls below minimum margin requirements then, in effect, we have the right to liquidate, without notice, as many of your trades as necessary to bring your margin requirements up to the minimum standard again. In such situations, and depending on market conditions, and in the facts of each case, we may attempt to contact you by phone upon delivery of a margin deficiency.
Please remember, however, that we are not obligated to notify you in advance of liquidation and that it is your duty to keep your account properly margined at all times and to keep fully appraised of current margin requirements.
Client Statements – Clients with problems concerning their daily trade confirmation statements must contact us immediately – failure to do so may result in the error remaining the client’s responsibility. After thirty days, errors are the client’s liability.
Financial Obligation Approaching First Notice Day (FND) – When approaching FND, clients must have full contract value three days prior to FND in order to hold a long and/or a short position. When FND and Last Trading Day (LTD) are the same day, such as with currencies, clients must have a full contract value ten days prior to FND/LTD.
Plus500US Financial Services, LLC ("Plus500US") recognizes that The International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001 ("Act") imposes important new obligations on all financial firms for the detection, deterrence and reporting of money laundering activities. Under the Act, money laundering is defined as any financial transaction using income derived from criminal activity including, but not limited to, drug trafficking, fraud, illegal gambling and terrorism. Plus500US has established the following policies to ensure thorough compliance with all laws and regulations regarding money laundering.
Information collected from customers on account applications will be used to verify their identities, as required under Federal law. Prior to the opening of any new account, Plus500US shall document the identity, nature of business, income, source of assets, and investment objectives of each prospective customer. Accounts for persons or entities from countries that do not cooperate with the Financial Action Task Force (FATF) guidelines on money laundering shall be subject to a heightened level of scrutiny. Accounts in the name of, or related to, any person or entity on the Office of Foreign Asset Control (OFAC) Specially Designated Nationals and Blocked Person list shall not be permitted. Likewise, under exchange rules, persons whose names subsequently appear on such lists will be prohibited from obtaining direct or indirect access to futures exchanges, such as the CME Group exchanges.
On an on-going basis, Plus500US shall review account activity for evidence of suspicious transactions that may be indicative of money laundering activities. This review may include surveillance of: 1) money flows into and out of accounts, 2) the origin and destination of wire transfers, 3) non-economic transactions, and 4) other activity outside the normal course of business.
Every officer, employee, and associated person (“AP”) of Plus500US shall be responsible for assisting in the firm’s efforts to undercover and report any activity that might constitute, indicate or raise suspicions of money laundering. To this end, Plus500US shall provide continuing education and training of all such persons.
Should any officer, employee or AP of Plus500US have any knowledge, suspicions or information regarding potential money laundering activities, that individual shall immediately notify Plus500US’s Compliance Department. Plus500US’s Compliance Officer shall document the reported activity, investigate fully, and, if warranted, report such activity to the senior management of Plus500US.
Plus500US shall comply with all trade and economic sanctions imposed by OFAC against targeted foreign countries and shall cooperate fully with government agencies, self-regulatory organizations and law enforcement officials. As provided by the Act, Plus500US may supply information about former, current or prospective customers to such bodies.
Any officer, employee or AP who fails to comply with Plus500US’s policies and procedures on money laundering may be subject to disciplinary action, including termination of employment. In addition, such failure may expose the individual to civil and criminal penalties under the Act.
Plus500US is committed to protection of your personal information and to protecting your privacy.
Only authorized Plus500US employees or agents will have access to your personal information. All of our employees, affiliates and service providers are held to the highest standards of privacy and security.
EEA/UK residents have several rights regarding the way we store and process their personal data. For more information click here.