EFFECTIVE DATE: MARCH 1 2017
Due to the introduction or ongoing levy of negative interest rates on account credit balances by some central banks and deposit banks, Global Trading will be applying a negative interest charge to unutilized cash in the relevant reference currencies (subject to the minimum thresholds below). As Global Trading places our clients cash very conservatively, we are sharing this burden and not completely recovering our costs for the benefit of our clients.
The charge will apply to all client accounts net free equity balances above the threshold currently indicated in the table below. We will endeavor to contact all clients that will be affected by this policy and provide them with some suggested alternatives to avoid these charges. These rates do not apply to bank account balances with Euro Pacific Bank, only unused cash held directly in Global Trading brokerage accounts.
The negative interest will be calculated daily on the net free equity exceeding the threshold and debited to the account at the end of each month for the interest period of the previous month (value date is the last day of the previous month).
The thresholds and negative interest rates are currently at:
|Currency||Threshold||Negative Interest Rate (p.a.)|
The negative interest rates indicated above will be charged as of 1 March 2017 and apply until further notice. The rates charged are subject to change. The information is also provided on the trading platforms and on Global Tradings Trading Conditions page.
The reference interest rates applied by the central banks are continuously monitored by Global Trading. If the negative interest rate environment was to change, Global Trading aims at adjusting the negative interest rates.
Thank you for your understanding. Please contact us if you have any questions.