| 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) 845 210 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.
Registering your card details
If you enter your card details for the first time but do not make a payment, a pre-authorisation service will temporarily take 0.01p from your bank account and only appear on your bank account for a short time before dropping off. This amount will never actually be removed from your bank.
After you have registered your card once, you will not need to re-register this card unless your card expires or it is inactive for over 12 months.
.
Deposit money via
Bank Transfer
You can deposit funds directly into our bank
account by making a bank transfer from a bank account in your name- 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.
Some international transfers will incur a fee charged by your bank or ours. Any charges will come out of the amount that you transfer and therefore we will only credit your spread betting account with the funds that we receive. We cannot be held accountable for any bank charges.
Our bank accounts are held at Barclays Bank, 1 Churchill Place, London, E14 5HP. 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, , 12 Appold Street, London
EC2A 2AW. We will not credit your account until
your cheque has cleared. This usually takes 5 working days.
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.
Cheques drawn on a bank outside of the UK can take up to 4-6 weeks to clear. Any commission charged by our bank, or yours, for processing an international cheque will come directly out of the funds from the cheque deposited and therefore only the funds credited to our bank account will be credited to your spread betting account.
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Are my funds deposited online securely?
To improve the security of the card payments you make into your spread betting account and following industry standards, we operate Verified by Visa & MasterCard® SecureCodeTM for some card types. These schemes, known collectively as 3D Secure, are designed to improve the way that your card payments are authenticated and to reduce the likelihood of card fraud.
If you have previously enrolled for these services with your bank and we require your card type to use 3D Secure, you will simply be prompted for your 3D Secure password when you next make a payment into your spread betting account.
If you have not yet enrolled in Verified by Visa or MasterCard® SecureCodeTM, you may be prompted by your bank to enrol before a payment can be made. This will be done quickly and securely on your bank's website before seamlessly bringing you back to the payment page to continue with your transaction.
Please be assured that when inputting your 3D Secure details you are communicating directly with your bank via a secure link. The information that you enter is not disclosed to London Capital Group. To complete your payment, you will be briefly redirected to a secure screen hosted by your card issuer.
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.
Our company policy states that 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. Whilst we will action refunds as quickly as possible and normally the same business day, once the funds leave your
E*TRADE
account the banking system usually takes up to 3 - 5 working days to return the funds back into your bank account. In some rare cases the banking system might take longer to process your refund, so if this is the case please contact Customer Support.
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 or made an international transfer, there is a charge of £20 or the equivalent currency amount 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 either an original utility bill or bank statement that is dated within the last three months. Alternatively please send us a signed letter confirming your Spread Betting account number, your name and your new address and telephone contact details along with a copy of your passport or photo card driving licence so that we can verify your signature.
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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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