No, as sub-accounts don’t exist on Euro Pacific Trader (EPT). Read below to find out how you can hold multiple currencies in your EPT account and use them to buy foreign securities.
Single Multi-Currency Account
Remember, your Euro Pacific Trader has a single, multi-currency cash account that you can fund and trade with. This means you do not need sub-accounts in different currencies.
Simply, fund your account with all of the currencies you’d like to hold, and those currencies will be deposited into your EPT cash account and held separately.
For example, if you would like to buy stocks on the London Stock Exchange, you can fund your EPT account with GBP. The GBP will be credited to your EPT cash balance in addition to other currencies you already own there.
How trading foreign securities works
When buying a security, please note that Euro Pacific Trader will always attempt to fund the trade using the local currency of the security. In other words, if you buy a stock on the London Stock Exchange, you can expect that your GBP cash balance will be drawn from automatically.
What happens if you don’t have a sufficient currency balance to support the trade?
If margin trading is enabled on your account
If Margin Trading is enabled on your account and you are trading a security that is denominated in a currency that you do not sufficiently own, a margin loan is created, secured by your available currency.
If you want to eliminate the margin loan, you may do so at any time by depositing new money of that currency into the account.
If margin trading is disabled on your account
Your trade will be rejected, as a margin loan collateralized by your available cash cannot be created. You would instead deposit new funds in that currency from your bank account as usual.