Important: New leverage changes & ACY's updated legal documents

ACY

2021-03-25 12:32:09

As you may have seen in the press release recently, the Australian Securities and Investments Commission (ASIC) has announced changes in conditions on the issue and distribution of contracts for difference (CFD) to retail clients.

These changes for retail clients will come into effect on 29 March 2021. ACY Securities Pty Ltd (ACY AU) will be fully complying with these new regulatory requirements:

  • Revised leverage limits will be as follows:
  • 30:1 for CFDs referencing an exchange rate for a major currency pair.
  • 20:1 for CFDs referencing an exchange rate for a minor currency pair, gold or a major stock market index.
  • 10:1 for CFDs referencing a commodity (other than gold) or a minor stock market index.
  • 5:1 for CFDs referencing shares or any other underlying assets.
  • 2:1 for CFDs referencing crypto-assets.
  • If you have open positions, please make sure you have sufficient funds to cover the new margin requirements by Friday the 26th of March 2021.
  • Negative balance protection limiting client's aggregate liability for all trades connected to an account to the funds available on that account.
  • Margin close out protection where margin close out will occur when the sum of funds in your account and the unrealised net profits and losses of all open trades connected to that same account, fall to less than half of the total initial margin protection required to open trades. This is consistent with ACY AU's current margin close out policy so there is no change here for ACY AU's clients.
  • Prohibition of promotional offers such giving or offering certain inducements to retail clients to open or trade (e.g., offering gifts like iPads). 

Please also take the time to read our updated Product Disclosure Statement (PDS), Financial Services Guide (FSG) and Terms and Conditions, which are available below for your immediate reference and will be available on our website www.acy.com.au from the 28th March 2021. 

  • Updated PDS
  • Updated FSG
  • Updated Account Terms and Conditions
  • Updated Privacy Policy

If you have any questions, you can contact our Customer Service team or jump on our live chat.

Please note - this announcement is applicable to clients of ACY AU only.  

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