Terms & Conditions
Please ensure that you review our terms and conditions prior to opening a live account.
Margin Levels: Margin Calls & Margin Requirements (including Weekend Open Positions).
ACM Gold and Forex Trading (PTY) Ltd, hereafter referred to as ACM Gold & Forex, has instituted a “Margin Call Policy” to reduce the risk of customers losing more money than they have available in their accounts. Margin calls are executed when the customer account has less equity available than required to maintain their open positions. In times of volatility a customer may still end up with a negative balance which the customer will be liable to pay. ACM Gold & Forex’s margin calls occur when the customer Equity (Liquidation Value) reaches a level that is equivalent to a certain percentage of Used (Open) Margin. This percentage is known as the Maintenance Level. Through ACM Gold & Forex’s Portal, positions are closed prior to the market having a chance to move further against the customer’s trades. The Maintenance Level may be different for customers, depending on the trading groups they are a part of. Please ensure that you, the customer know the maintenance level as it may differ depending on your customer trading group. To find your customer maintenance level, please send a request to firstname.lastname@example.org quoting your account number.
ACM Gold & Forex may, at the discretion of its dealers, close any or all open positions in the customer account in the event that the customer account falls below the minimum required equity. When there are two or more open positions, ACM Gold & Forex reserves the right to close the position(s) first with the highest floating loss on a highly volatile market when the Equity reaches the customer maintenance level. The largest positions are closed prior to the smaller positions; however, ACM Gold & Forex may, at its discretion, close only the positions that carry the most risk. Even though the Portal keeps track of used and free margin, it is the customer’s responsibility to keep track of these account balances at all times. In addition, a safeguard is in place to protect both the customer and ACM Gold & Forex alike. Once the Equity reaches 100% (one hundred percent) of Used Margin, the customer will only be able to enter orders to hedge their current position(s).
Weekend Open Positions Margin Requirements
The currency market is closed from Friday, 5:00 PM New York Time until Sunday, 5:00 PM New York Time. Bullion & CFD’s may open and close at varying times. There is a possibility that the price of certain currency pairs, metals or CFD’s may fluctuate greatly from the time the market closes to when it opens. This time of zero liquidity presents a risk to bothACM Gold & Forex and the customer. As a result, ACM Gold & Forex reserves the right (but has no obligation) to protect itself and the customer in the following way: Prior to the market closing on Friday, if it is evident that a 100 (one hundred) pip (or less) increase or decrease in price over the weekend on certain open positions and will force the customer account into a negative equity. ACM Gold & Forex reserves the right to hedge certain positions in the customer account. For example, if the customer account maintains an open position of one standard contract of EUR/USD whereas a pip equals USD10, and has USD400 in equity, a 41 pip move against the customer would result in their account being in a negative. In this situation, ACM Gold & Forex would reserve the right to hedge the position in the customer account if the customer decides to hold this position into the weekend.
Types of Trading Methods Allowed
ACM Gold & Forex does not allow all types of Trading Methods and reserves the right to close any account if it is deemed to be engaging in unethical or questionable trading styles including, but not limited to, latency arbitrage and the act of “flooding” of the ACM Gold & Forex servers with an excessive amount of pending orders, without notice. ACM Gold & Forex will usually (but is not obligated to) attempt to express its concern initially to the customer or associated parties via email or telephone in the form of a formal warning. In the event that more than 10% of the customer trading volume was executed using an unethical system, ACM Gold & Forex reserves the right to refuse to pay out the profits generated from these transactions.
Transactions will be deemed ‘unethical’ if more than 10% of the trading volume is closed within 3 minutes. While the profits from these unethical transactions will not be paid out, ACM Gold & Forex cannot refuse to pay out the balance remaining once these trades have been reversed or deleted from the system.
Deposits & Withdrawals
From the time the withdrawal is processed, the customer should allow 2 (two) to 5 (five) full business days to receive funds depending on the withdrawal method requested. Please note, as ACM Gold & Forex must rely on third party institutions, namely banks, for account processing, the time of receipt for both deposits and withdrawals may vary from the time period quoted above. The ACM Gold & Forex shall only be allowed to withdraw funds to the extent that enough funds remain equal to the margin required for contracts with open positions.
Anti-Money Laundering (AML) Policy
In compliance with the Financial Intelligence and Anti-Money Laundering Act 2002 (FIAMLA 2002), the Prevention of Corruption Act 2002 (POCA 2002) and the Prevention of Terrorism Act 2002 (POTA 2002), ACM Gold & Forex (“The ACM Gold and Forex Trading (PTY) Ltd”) have adopted an Anti-Money Laundering (AML) compliance policy (“Policy”).
Scope of Policy:
This policy applies to all ACM Gold & Forex Officers, Employees, Brokers and associated 3rd partie. It is the policy of ACM Gold & Forex to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the funding of terrorist or criminal activities. For the purposes of the Policy, money laundering is generally defined as engaging in acts designed to conceal or disguise the true origins of criminally derived proceeds so that the unlawful proceeds appear to have been derived from legitimate origins or constitute legitimate assets. All business units and locations within the ACM Gold & Forex will cooperate to create a cohesive effort in the fight against money laundering. Each business unit and location has implemented risk-based procedures reasonably expected to prevent, detect and cause the reporting of transactions required under the FIAMLA. All efforts exerted will be documented and retained in accordance with the FIAMLA. The AML Compliance Committee is responsible for initiating Suspicious Activity Reports (“SAR’s”) or other required reporting to the appropriate law enforcement or regulatory agencies. Any contacts by law enforcement or regulatory agencies related to the Policy shall be directed to the AML Compliance Committee.