Please note that Phillip Commodities (HK) Limited ("Phillip") does not accept deposit from third party. Client can deposit funds to the designated "Bank Accounts". A crossed personal cheque should be made payable to "Phillip Commodities (HK) Limited".
If client account contains insufficient trading currency or deficit in any currency due to trading loss, this negative balance will be charged with interest.
The initial margin and maintaining margin are respectively 5% and 3% of the contract size. Phillip reserves the right to adjust the initial margin and maintaining margin of the contract according to the market conditions and without further notification.
If withdrawal instruction is given on a working day before 9:20am, we will be processed on the same day. Alternatively, we will be deposited the cheque to client’s bank account or client can pick up the cheque at our head office.
After client deposits the funds into his Phillip account, notification should give on a working day before 5:00pm and the funds will show up on the selected platform account on the next working day if the funds are recognized successfully. If client intends to trade on the same day, client needs to send the deposit slip (only accepted cash deposit) to Customer Service Department by fax (852) 2277 6008 or email to email@example.com and call client’s Account Executive or dealer to place order.
For any updated personal information, client should inform us as soon as possible. For personal information such as residential address, contact number, email address or bank account information etc., client should submit the "Account Particulars Amendment Form" or written instruction with signature. For change of address or correspondence address, client may be required to provide the address proof dated within the last three months.
For E-statement service, client should ensure the email account can receive email successfully.
For reason of security and protecting client’s benefit, client should change the password of online trading system(s) periodically.
If client does not receive statement from Phillip Commodities (HK) Limited, or you have any suggestion or enquiry, please contact our customer service hotline at (852) 2277 6555 or email at firstname.lastname@example.org for our fees and charges.
Client may deposit foreign currency acceptable in Phillip for trading, however If client’s account contains negative balance of HKD or the overall account balance in terms of HKD is negative, client will bear an interest for that negative amount (margin excess).
Client who withdraws foreign currency available from Phillip (except USD by cheque) from Forex account to the local bank account or any currencies to foreign bank account must submit the Original Telegraphic Transfer Formto Phillip and client will be charged with a telegraphic transfer fee deducted from client’s account. The approximate fee of each withdrawal is HKD400. Whether any additional fee would be charged by the corresponding bank, client should enquire of the bank in advance.
Phillip reserves the right, but is not obliged, to offset any negative balance or margin deficit with other currencies in the client's account.
Client who holds overnight forex position receives or pays a daily interest due to the interest difference from currency pair and this interest is reflected by adjusting the entering price of the position by a swap point. For more information, please refer to Forex:Interest Rate.
For account with equity lower than maintaining margin requirement, client will receive a margin call through mobile phone, email or SMS (if applicable)and will be required to either square the position or deposit/transfer funds to fulfill the initial margin level in a designated time. Otherwise, we reserve the right to close client position; In addition, client are advised to monitor its position closely, in case of volatile market, we may force close client position if account is in margin deficit without issuing margin call, and the client shall all time be liable for payment of any debit balance(s) incurred.