Back to Base automatically converts any realised profits and losses, adjustments, fees and charges that are denominated in another currency, back to your Base Currency – before applying them to your account.
If your Base Currency is AU dollars and you place a CFD trade on the Wall Street Index, as the Wall Street Index is a US dollar denominated market, your profits or losses, as well as any additional charges when applicable (such as commission, financing, dividends, corporate actions etc.) will be denominated in US dollars.
Back to Base (Currency Conversion) means that all of your realised profits and losses, adjustments, fees and charges will be automatically converted back to your Base Currency, which in this example, would be Australian dollars.
Traders with positions in markets that are priced in a currency that is not of your Base Currency and placed from the 2 July 2012, will be affected.
However, traders’ existing cash balances – which precede the 2 July 2012 – will not be affected.
We will always apply commercially reasonable rates for Back to Base (Currency Conversions). Conversions and the rates applied will be disclosed on your contract notes and statements.
City Index is a trading name of GAIN Capital Australia Pty Ltd.
*$100 credit off Terms & Conditions.
The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. This is not an invitation or an offer to invest nor is it a recommendation to buy or sell investments. GAIN Capital recommends you to seek independent financial and legal advice before making any financial investment decision. Trading CFDs and FX on margin carries a higher level of risk, and may not be suitable for all investors. The possibility exists that you could lose more than your initial investment further CFD investors do not own or have any rights to the underlying assets. It is important you consider our Financial Services Guide and Product Disclosure Statement (PDS) available at www.cityindex.com.au, before deciding to acquire or hold our products. As a part of our market risk management, we may take the opposite side of your trade. GAIN Capital Australia Pty Ltd (ACN 141 774 727, AFSL 345646) is the CFD issuer and our products are traded off exchange.