City Index Australia

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Managing Your Account

Your account will be opened when your application has been approved. Once necessary funds have been deposited, you are able to start trading with City Index.

You can keep track of your trades by:

• Telephone – You are able to place a trade by calling the City Index trading desk
• Online – we have a fully interactive real time trading platform offering you the opportunity to utilise advanced tools normally only available to professional City traders.

Payment of Initial Deposit and Other Funds

Once your account application has been processed, you can effect payment to your City Index trading account in one of the following ways:

Electronic Funds Transfer (EFT)

Cheque

Send a cheque or money order made payable to City Index:

City Index
GPO Box 5464
Sydney NSW 2001

To assist with processing, please ensure your Account Number is written on the reverse side of the cheque.

BPAY

Biller Code: 19513

Reference: Your 10-digit City Index CRN as appears on your Statement*

Credit Card

We accept the following credit cards:

Please note: You will need to register your credit card details with us before making any payment online. Simply call our Client Services Team on 1800 354 182 or 61 2 9270 3682. Once your credit card has been registered by phone you can make a secure payment online via the Internet Trading Platform, alternatively you can always speak to our Client Services Team and make payments by phone. All phone payments are securely processed by CyberSource.

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Below are just a few of the features of a CFD that you should be aware of when managing your account:

Types of Order

CFDs allow you to magnify your profit/loss potential, but you can put the brakes on losses by using one of our range of order types.

Limit Order

Use if you want to place an order to buy or sell at a better price than the currently prevailing market price:

Stop Order

Use if you want to sell below or buy above the market.

A Stop order is an instruction to buy or sell a market at a price which is worse than that prevailing at the time of placing the order. You can use a stop order to do the following:

• Open a new long position (Stop Buy)
• Close an existing long position to cap a loss (Stop Sell)
• Close an existing short position to cap a loss (Stop Buy)
• Open a new short position (Stop Sell)

Stop Loss Order

Use if you want to automatically close a position to ensure that losses do not get out of control.

A stop loss is a stop order directly linked to an open position, which will automatically close the position when it has reached a predefined value. They are an important tool to ensure that losses do not get out of control.

A stop loss order is set at a price which, when reached, automatically triggers a trade to close your position. The closing trade is executed at the next available price immediately after the order is triggered. This can be at the same, better or worse price than the specified level (the trigger level). In most cases, the order is executed at the same price as the stop loss level but it is possible that the execution price is at a worse level (known as slippage) and in cases of severe gapping the execution price may be at a substantially worse price.

Stop loss orders are triggered and executed on the basis of City Index CFD prices (known as “basis our quote”) and are assumed to be good until cancelled (GTC) unless otherwise specified.

There is no additional charge for using a stop loss.

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Guaranteed Stop Loss Order

Use if you want a guarantee that a position will be automatically closed to ensure that losses do not get out of control.

If you feel that you need greater comfort than that afforded by a simple Stop Loss then you may be able to opt for a guaranteed stop loss. Guaranteed stop losses are not available on all instruments. As the name suggests a guaranteed stop loss guarantees that you will obtain your stop loss trigger value.

There is an additional charge for this type of order known as the guaranteed stop loss premium and there are minimum distances that orders must be placed away from the current price.

Linked Order

Use if you want to place an order that enables you to cap losses and achieve a profit target.

A Linked Order is a combination of two orders placed on a trade: a stop order and a limit order.

Should one be triggered, this will automatically cancel the other. Should you close the position, both orders will be cancelled.

Out of Hours Order

Use if you want to place an order out of hours to be effected during City Index opening hours.

You are able to place orders to open positions when the markets are closed:

You can use a stop order:

• Open a new long position (Stop Buy)
• Open a new short position (Stop Sell)

You can use a limit order to:

• Open a new long position (Limit Buy)
• Open a new short position (Limit Sell)

There are some important considerations regarding orders which are outlined below. For further information please read our Terms and Conditions.

• Please note that all orders relating to CFDs are basis ‘City Index Quote’ / ‘Our Quote’ and assumed to be Good Until Cancelled (GTC).
• With the exception of Guaranteed Stops, none of these orer types are guaranteed.
• Orders which are left to open a position are subject to normal credit procedures.
• If an order to open were to result in additional margin being required the trade may not be opened at the absolute discretion of City Index.
• Equally stop loss orders may not be moved, at the absolute discretion of City Index, if it were to result in a margin call.
• Stop loss orders are attached to a particular trade, so that if the trade is closed online or on the phone the stop loss is cancelled.

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Financing

Financing is calculated on CFD positions held overnight. If you hold a long position, you pay financing whereas if you hold a short position, you receive the financing.

More information

Dividend Adjustments and Corporate Actions

You’ll receive dividend adjustments and many of the benefits of corporate actions from CFDs in the same way that you would if you held the full share, however you will not receive voting rights.

More information

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