You are required to submit a bank statement within the last 3 months displaying your bank name, personal name, and bank account number explicitly. Verification of bank accounts will take 1 business day.
To add a bank account, go to My Account → Manage Funds → Add bank account.
Some examples why you may have a negative balance in your currency account:
You have withdrawn receivable funds that are pending for settlement. Funds from your sales transaction will be available on the settlement date. This will take up to 3 business days from the transaction date, depending on the respective exchanges. Withdrawal of funds that have not been settled will incur financing charges, given that we are required to borrow capital to finance your early withdrawal.
If you have multiple currency accounts and have sufficient funds in your overall account, you have to ensure that the currency account you have used to execute a trade has sufficient cash balance, or else you will incur financing charges. In the scenario that you have performed a trade without sufficient cash balance, check your balances after 2pm and top up your account accordingly.
If you purchased a leveraged product on a currency account that has insufficient funds to cover your unrealised losses and maintain your margin, it will result in a negative balance and you will incur financing charges.
For the interest breakdown, please view the ‘Interest Detail’ report under Account.
*Note: If you have a negative balance due to point 3, it will reflect in your other multi currency accounts as well. Please top up the currency account used to execute in order to minimise financing charges incurred.