MANAGING YOUR ACCOUNTS

What is the minimum deposit?

We do not require you to deposit funds into your account until you wish to trade.

To calculate the minimum amount of cash required to open a new position, select the product you wish to trade and then multiply your stake (i.e. how much you wish to bet per point) by the Minimum IMR (initial margin requirement) detailed in the Product Information.

For example, if you wish to bet on the DAX with £1 per point, you would multiply £1 x 50 (Min IMR for Daily FTSE), your initial deposit would be £50. If you want to make a bet on a share, you can find details of the Min IMR on our website in the information button located to the right of the product.

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Depositing Funds

You can credit your account in a variety of ways which are detailed below. Please note that due to money laundering regulations enforced by the Financial Services Authority, we are unable to accept funds from any other source than the account holders own funds.

Deposit money by Debit/Credit card
You can deposit funds securely online or by telephone using a debit or credit card. There is a 2% charge for payments made by credit card. If you did not register a card when you opened your account, you can do so by clicking the Credit My Account button and then Add Card. Alternatively, you can call the Customer Support team on +44 (0) 870 200 0377.

As a credit card customer you should be aware of changes to the way some credit card companies charge for online betting transactions. Gambling transactions, which have until now been treated in the same way as any other purchase, will be treated as cash advances by some credit card companies. Cash advances are usually subject to a higher rate of interest than standard transactions, so you should check the terms and conditions of your card carefully
.

Deposit money via Bank Transfer
You can deposit funds directly into our bank account - please ensure you use your full name and E*Trade account number as a reference. Please note that due to money laundering regulations, we cannot accept cash deposited into our bank account. Any funds credited in this way will not be added to your spreadbetting account and could result in significant delays on any refund. Please be aware that large deposits of cash into our accounts by any client may generate an enquiry to the relevant authorities.

Our bank accounts are held at Barclays Bank, 54 Lombard Street, London EC3. The details of our bank accounts are below

To deposit Sterling:
Account Name: London Capital Group T/AS E*TRADE Spread Betting
Account Number: 80334448
Sort Code: 20 77 67
Swift Code: BARCGB22
IBAN: GB74 BARC 2077 6780 3344 48

To deposit Euros:
Account Name: London Capital Group T/AS E*TRADE Spread Betting
Account Number: 77477277
Sort Code: 20-77-67
Swift Code: BARCGB22
IBAN: GB76 BARC 2077 6777 4772 77

To deposit US Dollars:
Account Name: London Capital Group T/AS E*TRADE Spread Betting
Account Number: 49659822
Sort Code: 20-77-67
IBAN GB70 BARC 2077 6749 6598 22

Deposit Funds via Cheque
Please make your cheque payable to E*Trade and send it to E*Trade, 4th Floor, 12 Appold Street, London EC2A 2AW. We will not credit your account until your cheque has cleared.

Unfortunately, we cannot accept banker’s drafts. If you are going to deposit funds using a building society cheque and it does not have your name on the cheque, we will need to see a receipt stamped by the building society to say that the money from that cheque came from an account in your name.

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I would like a refund

If you would like a refund from your E*Trade account, please call us or email us advising us of the amount you wish to receive and confirming the last 4 digits of the card you would like us to refund.

As stated above in the depositing funds section, we are regulated by the FSA so any funds deposited must go back to the original source. For example, if you deposited funds using a card we would transfer your funds back to this card. It can take up to 3 - 5 working days for the funds to appear in your account.

Please note that MasterCard do not accept refunds from gaming organisations. If you deposit funds using a MasterCard we will make refunds to a bank account in your name, or to the default bank account details registered on your spread betting account. It is possible that we may require proof of your Bank Account details to establish that the account is in your name. This should be in the form of an original bank statement dated within the last three months. The statement should include your name, account number and, for international clients, an IBAN or Swift Code. We may also need sight of the card in question via faxed or scanned documentation.

If you are an international customer and you have used a MasterCard to credit your account there is a charge for refunds under £1000.00. For UK customers we would refund your money via BACS and this will take three working days with no charge.

Please note that due to transaction costs, reserve the right to refuse any refund under £50.00 (or the equivalent currency amount) unless you are closing your account. Please bare this in mind when requesting a refund.

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How do I change my contact info?

If a problem occurs on your account, it is important for us to be able to contact you. Please ensure that your email address is always up to date and, if necessary, please check to ensure that your inbox has not exceed its limit. We send all contract notes via email and it is your responsibility to provide us with the correct contact details. Your contract notes are proof of the trades that you have made and if you have any kind of query we will ask you for copies of your contract notes.

If you move house, please send us a letter confirming your E*TRADE Spread Betting account number, your name and your new address and telephone contact details.

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How do I change my password?

If you wish to change your password, please call us and we will conduct a security check to confirm your identity before amending your account details.

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I've forgotten my username/password

If you have forgotten your username or password, please call us or if you are unable to do so, please email us. We will send you some information that will remind you of your username or password. We are unable to send passwords via email for security reasons.

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How do I monitor my account?

Log into your account and click on Account Summary. You will see details of the most recent closing trades you have conducted and details of any profit/loss.

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Do I get a contract note?

You will receive a contract note via email for each trade you make whether you trade online or by telephone.

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Will I receive a statement?

You can view your statement of account online once you have logged into your account.

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