{"id":5008,"date":"2021-03-08T00:55:30","date_gmt":"2021-03-07T16:55:30","guid":{"rendered":"https:\/\/www.phillipnova.com.sg?page_id=5008"},"modified":"2025-11-14T13:05:43","modified_gmt":"2025-11-14T05:05:43","slug":"margin-trading-important-trading-dates","status":"publish","type":"page","link":"https:\/\/www.phillipnova.com.sg\/cn\/faq\/margin-trading-important-trading-dates\/","title":{"rendered":"\u4fdd\u8bc1\u91d1\u4ea4\u6613\u548c\u91cd\u8981\u4ea4\u6613\u65e5\u671f"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"5008\" class=\"elementor elementor-5008\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"ob-is-breaking-bad elementor-section elementor-top-section elementor-element elementor-element-bf17be8 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bf17be8\" data-element_type=\"section\" data-e-type=\"section\" id=\"back-to-top\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ob_bbad_use_it&quot;:&quot;yes&quot;,&quot;_ob_bbad_sssic_use&quot;:&quot;no&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9f930a0\" data-id=\"9f930a0\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;_ob_bbad_is_stalker&quot;:&quot;no&quot;,&quot;_ob_teleporter_use&quot;:false,&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5e3e7aa ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading\" data-id=\"5e3e7aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Margin Trading &amp; Important Trading Dates<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"ob-is-breaking-bad elementor-section elementor-top-section elementor-element elementor-element-18f4de1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"18f4de1\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ob_bbad_use_it&quot;:&quot;yes&quot;,&quot;_ob_bbad_sssic_use&quot;:&quot;no&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-fcbcf37\" data-id=\"fcbcf37\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;_ob_bbad_is_stalker&quot;:&quot;no&quot;,&quot;_ob_teleporter_use&quot;:false,&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"ob-is-breaking-bad ob-bb-inner elementor-section elementor-inner-section elementor-element elementor-element-fb57a43 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"fb57a43\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ob_bbad_use_it&quot;:&quot;yes&quot;,&quot;_ob_bbad_sssic_use&quot;:&quot;no&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-c2c98f8\" data-id=\"c2c98f8\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;_ob_bbad_is_stalker&quot;:&quot;no&quot;,&quot;_ob_teleporter_use&quot;:false,&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-50fc526 ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"50fc526\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"key-definitions\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b886321 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"b886321\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Key Definitions<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2439d7b ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"2439d7b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3791\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-3791\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is First Notice Day (FND)?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3791\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-3791\"><p>First Notice Day refers to the first date where notices of intention to deliver the actual commodities against futures are authorised. This date varies by commodity and exchange. If you are holding a long futures position, you will need to liquidate or roll over the long position prior to the First Notice Date.<\/p><p><span class=\"TextRun SCXW169017570 BCX9\" lang=\"EN-SG\" xml:lang=\"EN-SG\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW169017570 BCX9\">Cash-settled contracts do not have a First Notice Day.<\/span><\/span><span class=\"EOP SCXW169017570 BCX9\" data-ccp-props=\"{&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3792\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-3792\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Last Trading Day (LTD)?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3792\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-3792\"><p>Last Trading Day refers to the final day when trading can take place in a particular futures <span class=\"NormalTextRun SCXW231491926 BCX9\">contract as <\/span><span class=\"NormalTextRun SCXW231491926 BCX9\">determined<\/span><span class=\"NormalTextRun SCXW231491926 BCX9\"> by the Exchange.<\/span> Futures contracts that remain outstanding at the end of the Last Trading Day will be settled <span class=\"TextRun SCXW217505517 BCX9\" lang=\"EN-SG\" xml:lang=\"EN-SG\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW217505517 BCX9\">via physical delivery of the underlying asset or cash settlement against the Final Settlement Price. For deliverable futures, all positions will have to be liquidated or rolled over prior to the Last Trading Day to avoid physical delivery.<\/span><\/span><span class=\"EOP SCXW217505517 BCX9\" data-ccp-props=\"{&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3793\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-3793\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Margin\/Leveraged Trading?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3793\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-3793\"><p class=\"font-size-18\"><span class=\"TextRun SCXW64048300 BCX9\" lang=\"EN-SG\" xml:lang=\"EN-SG\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW64048300 BCX9\">A margin in the Futures\/Forex market is the amount you would have to deposit to take up a trading position. The amount is usually a fraction of the underlying asset value, and it helps ensure that both parties fulfil their obligations. Both buyers and sellers must put up margin payments.<\/span><\/span><span class=\"LineBreakBlob BlobObject DragDrop SCXW64048300 BCX9\"><span class=\"SCXW64048300 BCX9\">\u00a0<\/span><\/span><\/p><p class=\"font-size-18\"><span class=\"LineBreakBlob BlobObject DragDrop SCXW64048300 BCX9\"><br class=\"SCXW64048300 BCX9\" \/><\/span><span class=\"TextRun SCXW64048300 BCX9\" lang=\"EN-SG\" xml:lang=\"EN-SG\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW64048300 BCX9\">Trading with margin creates a leveraged effect that allows you to use a small amount of capital to make an investment of greater value. Therefore, a small price change can result in larger profits or losses.<\/span><\/span><span class=\"EOP SCXW64048300 BCX9\" data-ccp-props=\"{&quot;134233118&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3794\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-3794\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Initial Margin (IM)?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3794\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-3794\"><div id=\"content\" class=\"site-content\"><div id=\"content-inside\" class=\"container no-sidebar\"><div id=\"primary\" class=\"content-area\"><p>Initial Margin is the required amount an account should have to initiate a position. Different contracts will have different prescribed initial margins.\u00a0<\/p><\/div><\/div><\/div><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3795\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-3795\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Maintenance Margin (MM)?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3795\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-3795\"><p class=\"font-size-18\">Maintenance Margin is the minimum amount that your account must maintain after initiating your position\/s. A margin call will occur when your equity falls below this maintenance margin when your position is held overnight.<\/p><p class=\"font-size-18\">See below FAQ &#8220;<strong>What is a Margin Call?<\/strong>&#8221; to learn more.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3796\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-3796\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Where can I find the margin list?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3796\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-3796\"><p class=\"font-size-18\">If you are an existing customer, you can view the latest margin list from <a href=\"https:\/\/myaccount.phillipnova.com.sg\/\">Client Portal<\/a> under Trading Information.<\/p><p class=\"font-size-18\">Alternatively, you may call or WhatsApp the Client Service Desk at (65) 6538 0500 or email <a href=\"mailto:nova@phillip.com.sg\">nova@phillip.com.sg<\/a> to enquire about the margin requirements.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-3797\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-3797\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to calculate the percentage for Margin Call, Low Equity and Weekend Policy?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-3797\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-3797\"><p>Generally, the equation is (Equity\/ Initial Margin) x 100 = Remaining Equity in %.<\/p><p>This shows how much equity you have as a percentage of the Initial Margin required in your account.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f53a12e ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"f53a12e\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"margin-call\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13908f6 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"13908f6\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Margin Call<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-acaf014 ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"acaf014\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"fulfil-margin-call\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b289cc4 ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"b289cc4\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1871\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-1871\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is a Margin Call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1871\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-1871\"><p>A margin call takes place when your account Equity drops below the Maintenance Margin required to support your overnight open positions. This situation indicates that your account no longer meets the necessary margin requirements to maintain these positions. Phillip Nova monitors margin requirements and determines whether a margin call is necessary at the end of each business day. If your Equity is insufficient at this time, you will be notified of the margin call and required to take action to restore your account to compliance.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1872\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-1872\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How do you detemine the margin call amount?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1872\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-1872\"><p>The margin call amount is calculated as the difference between your Equity and the Initial Margin Required. This figure represents the shortfall that must be addressed to satisfy margin requirements for your account.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1873\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-1873\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What constitutes Equity?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1873\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-1873\"><p>Equity is comprised of several components:<\/p><ul><li>Cash<\/li><li><strong>Non-Cash Collateral<\/strong> (The amount and type of collateral accepted may vary depending on your account type)<\/li><li>Net Securities <strong>Collateral<\/strong><\/li><li>Profit and Loss (P&amp;L) based on the mark-to-market (MTM) value of open positions<\/li><\/ul><p>It is important to note that the value of collaterals included in your Equity will differ according to the specific type of account you hold.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1874\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-1874\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How many days is your margin call policy?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1874\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-1874\"><p>Typically, margin calls must be addressed within two business days. This means that customers are required to resolve the margin call by topping up their account or reducing positions to meet the margin requirements by the specified cut-off time on the second day.<\/p><p>Failure to fulfill the margin call within this period may result in restricted trading access and the potential liquidation of positions to cover the shortfall.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1875\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-1875\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to Avoid Margin Call Liquidation?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1875\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-1875\"><p>To minimize the risk of margin call liquidation and maintain the health of your trading account, it is important to take proactive steps:<\/p><ul><li><strong>Monitor Your Equity and Margin Requirements:<\/strong> Regularly review your equity balance and the margin requirements for your open positions. Staying informed about your financial standing and obligations helps you respond quickly to changes in account status.<\/li><li><strong style=\"font-family: inherit; font-size: inherit;\">Maintain Adequate Funds:<\/strong><span style=\"font-family: inherit; font-size: inherit;\"> Always keep enough funds in your account to avoid dropping below margin requirements.<\/span><\/li><li><strong style=\"font-family: inherit; font-size: inherit;\">Be Prepared to Deposit Additional Funds:<\/strong><span style=\"font-family: inherit; font-size: inherit;\"> In the event that a margin call arises, be ready to promptly deposit additional funds into your account. Quick action can help you meet margin requirements and avoid the forced liquidation of your positions.<\/span><\/li><\/ul><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1876\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-1876\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to fulfil the margin call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1876\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-1876\"><p>When you receive a margin call, it is essential to act quickly and decisively to restore your account to compliance.<\/p><p>There are two primary methods for fulfilling a margin call:<\/p><ol><li><strong>Deposit the Full Margin Call Amount: <\/strong>Follow deposit instructions shown <a href=\"https:\/\/www.phillipnova.com.sg\/faq\/funds-deposit-withdrawal\/\">here<\/a>.<\/li><\/ol><ol start=\"2\"><li><strong>Reduce Your Open Positions<\/strong><\/li><\/ol><p>\u00a0<\/p><p>Taking timely action to address a margin call is important for maintaining the health of your trading account and avoiding potential restrictions or forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1877\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-1877\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What steps should I take after depositing funds to satisfy a margin call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1877\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-1877\"><p class=\"font-size-18\">After making the deposit, promptly notify Phillip Nova by sending an email to <a href=\"mailto:nova_mo@phillip.com.sg\">nova_mo@phillip.com.sg<\/a> with proof of your funds transfer. This step is crucial for confirming that your account has been topped up and for maintaining uninterrupted trading activities.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1878\" class=\"elementor-tab-title\" data-tab=\"8\" role=\"button\" aria-controls=\"elementor-tab-content-1878\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">If I have a Margin Call, when do I need to top up and\/or liquidate to fulfil the Margin Call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1878\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"region\" aria-labelledby=\"elementor-tab-title-1878\"><p>It is essential to promptly top up your account whenever your equity falls below the required margin level. Taking immediate action helps you avoid further complications and ensures that your trading positions remain unaffected.<\/p><p>If you do not restore your equity above the margin requirement, a forced liquidation of your positions will be initiated. This will occur according to the cut-off time specified in the margin call notification you receive. Therefore, always refer to the notification for the exact timing and act accordingly to prevent forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1879\" class=\"elementor-tab-title\" data-tab=\"9\" role=\"button\" aria-controls=\"elementor-tab-content-1879\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How do you determine what positions to force liquidate?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1879\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"9\" role=\"region\" aria-labelledby=\"elementor-tab-title-1879\"><p>Forced liquidation actions are carried out on a best-effort basis and are subject to our discretion. During this process, your access to the trading platform may be restricted to prevent any further transactions. Additionally, any active orders linked to your account are likely to be canceled to minimise risk.<\/p><p>It is important to emphasise that customers should always maintain adequate margin levels in their accounts. Relying on forced liquidation to satisfy margin call obligations is not recommended. Maintaining sufficient margin at all times is the best way to avoid the adverse consequences of forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18710\" class=\"elementor-tab-title\" data-tab=\"10\" role=\"button\" aria-controls=\"elementor-tab-content-18710\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Will my account be out of margin call after liquidation of my open positions?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18710\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"10\" role=\"region\" aria-labelledby=\"elementor-tab-title-18710\"><p>To fully satisfy a margin call, you must deposit funds that cover the highest margin call amount recorded on your account. Depositing a partial amount will not resolve the margin call. Similarly, liquidating positions without restoring your equity above the Initial Margin will not clear the margin call status.<\/p><p>Even after you have liquidated your open positions, your Equity may not exceed the Initial Margin requirement by the end of the business day. As a result, the margin call may remain in effect if the liquidation does not sufficiently restore your equity above the required level.<\/p><p>Always ensure that your deposited funds or risk-reducing actions are adequate to bring your Equity above the Initial Margin to fully resolve the margin call at the end of the business day.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18711\" class=\"elementor-tab-title\" data-tab=\"11\" role=\"button\" aria-controls=\"elementor-tab-content-18711\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Why do I receive a margin call notification despite liquidating my open positions? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18711\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"11\" role=\"region\" aria-labelledby=\"elementor-tab-title-18711\"><p>Margin calls are determined based on your account status at the end of the business day. This means that even if you liquidate your open positions during the trading day, it does not necessarily resolve your margin call by the day&#8217;s close. The margin call may still remain in effect if your account equity is insufficient at the end of the business day.<\/p><p>To fully resolve a margin call, you need to deposit funds that cover the highest margin call amount recorded on your account. Only by topping up your account with the full required amount can you ensure the margin call is satisfied and avoid further account restrictions or forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18712\" class=\"elementor-tab-title\" data-tab=\"12\" role=\"button\" aria-controls=\"elementor-tab-content-18712\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can I add on positions when I am on Margin Call? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18712\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"12\" role=\"region\" aria-labelledby=\"elementor-tab-title-18712\"><p>Only activities that reduce your risk exposure are allowed. In some cases, your trading access may be limited further, and you may only be able to conduct transactions for the purpose of liquidating positions.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18713\" class=\"elementor-tab-title\" data-tab=\"13\" role=\"button\" aria-controls=\"elementor-tab-content-18713\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Why is the margin call amount higher than yesterday's despite the market moving in my favour?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18713\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"13\" role=\"region\" aria-labelledby=\"elementor-tab-title-18713\"><p>Margin call amount is based on the highest shortfall between Day 1 and Day 2.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18714\" class=\"elementor-tab-title\" data-tab=\"14\" role=\"button\" aria-controls=\"elementor-tab-content-18714\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Will my margin call be extinguished if the market moves in my favour, or if I have reduced some of my positions?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18714\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"14\" role=\"region\" aria-labelledby=\"elementor-tab-title-18714\"><p>If Equity is still below Initial Margin at cut-off time, forced liquidation will occur.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18715\" class=\"elementor-tab-title\" data-tab=\"15\" role=\"button\" aria-controls=\"elementor-tab-content-18715\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">I have controlled currencies in my account, can I use them as margin requirement?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18715\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"15\" role=\"region\" aria-labelledby=\"elementor-tab-title-18715\"><p class=\"font-size-18\">No. Controlled currencies (e.g., MYR, WON, IDR, INR, TWD, PHP, VND) cannot be used for contracts not denominated in them.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18716\" class=\"elementor-tab-title\" data-tab=\"16\" role=\"button\" aria-controls=\"elementor-tab-content-18716\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What will happen to my Margin Call if there is a public holiday and the open position of the contract I have in my account is closed for trading?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18716\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"16\" role=\"region\" aria-labelledby=\"elementor-tab-title-18716\"><p>Even if there is a public holiday and the open position of your contract is closed for trading, it is essential that you still fulfill the Margin Call by topping up your account. If other contracts on the same exchange remain open for trading, your obligation to meet the Margin Call persists. Ensure that you deposit the required funds to bring your Equity above the Initial Margin, as failure to do so may result in forced liquidation or additional account restrictions.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18717\" class=\"elementor-tab-title\" data-tab=\"17\" role=\"button\" aria-controls=\"elementor-tab-content-18717\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What if I have a contract on its Last Trading Day while on a Margin Call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18717\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"17\" role=\"region\" aria-labelledby=\"elementor-tab-title-18717\"><p>Positions will be liquidated if in deficit. Phillip Nova does not distinguish contracts on LTD.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18718\" class=\"elementor-tab-title\" data-tab=\"18\" role=\"button\" aria-controls=\"elementor-tab-content-18718\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What if I have a contract with a final settlement date different from its Last Trading Day while on a Margin Call?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18718\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"18\" role=\"region\" aria-labelledby=\"elementor-tab-title-18718\"><p>Liquidation may occur within the last hour before cessation if still in deficit.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18719\" class=\"elementor-tab-title\" data-tab=\"19\" role=\"button\" aria-controls=\"elementor-tab-content-18719\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">If my portfolio consists of both Securities and Derivatives, will my Securities be liquidated in the event of margin call? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18719\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"19\" role=\"region\" aria-labelledby=\"elementor-tab-title-18719\"><p>If you have opted in to Shares Margin Trading, your securities may be liquidated. Please note that your fully paid-up securities may also be forced liquidated if an overloss arises in your account. This measure is being taken to cover any outstanding deficits.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18720\" class=\"elementor-tab-title\" data-tab=\"20\" role=\"button\" aria-controls=\"elementor-tab-content-18720\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can I sell off my Securities to meet my Margin Call Requirements?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18720\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"20\" role=\"region\" aria-labelledby=\"elementor-tab-title-18720\"><p>While selling securities is permitted, it is always advisable to top up your account with funds. Depositing funds provides an immediate and effective way to resolve margin calls and reduces the likelihood of forced liquidation or additional account restrictions.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-18721\" class=\"elementor-tab-title\" data-tab=\"21\" role=\"button\" aria-controls=\"elementor-tab-content-18721\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Is Banker\u2019s Guarantee (BG) or Letter of Credit (LC) accepted as collateral for margin?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-18721\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"21\" role=\"region\" aria-labelledby=\"elementor-tab-title-18721\"><p>Bank Guarantees (BGs) are accepted only as collateral to support the Initial Margin requirement for Futures and Options on Futures.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4907472 ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"4907472\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"low-equity-policy\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b6f4776 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"b6f4776\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Low Equity Policy<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8914b58 ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"8914b58\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"weekend-risk-policy\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6f5b611 ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"6f5b611\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1161\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-1161\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is low equity policy? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1161\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-1161\"><p>An account is deemed to be in Low Equity status when its Equity falls below 50% of the Initial Margin (IM) required for the open positions held.<\/p><p>When this threshold is reached, Phillip Nova reserves the right\u2014but not the obligation\u2014to initiate forced liquidation on a best-effort basis, without prior notice, in accordance with the Customer Trading Agreement. While Phillip Nova will generally attempt to notify customers of their low-equity status, such notification is not guaranteed.<\/p><p>In such circumstances, Phillip Nova may, at its sole and absolute discretion, liquidate any or all open positions, in any sequence or manner it deems appropriate.<\/p><p>Phillip Nova further reserves the right to review or amend the Low Equity and Stop-Loss thresholds from time to time, having regard to prevailing market conditions and the risk profile of each account.<\/p><p><span data-olk-copy-source=\"MessageBody\">Please be reminded that deposits made to Phillip Nova are not immediately received and instructions to liquidate in part or all of your positions may still arise before your funds are credited into your account.<\/span><\/p><p>To avoid forced liquidation of positions, funds must be cleared and booked into your account\/trading platform.<\/p><p>Under all circumstances, liquidation instructions are irrevocable once given, notwithstanding that we may still be in the process of receiving your funds or crediting them into your account\/trading platform.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1162\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-1162\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What happens when my account falls into low equity? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1162\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-1162\"><p>When your account equity falls into Low Equity status, Phillip Nova may, but is not obliged to, issue a notification. Such alerts are sent strictly on a best-effort basis and should not be relied upon as your sole means of monitoring risk.<\/p><p>Forced liquidation of open positions may occur at any time, with or without prior notice, and Phillip Nova retains sole and absolute discretion to determine which positions to liquidate and in what sequence.<\/p><p>You are responsible for continuously monitoring your account and ensuring your equity remains above the required margin level. Proactive management is essential to avoid forced liquidation or other risk-control actions.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1163\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-1163\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">At what level will my account be force liquidated? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1163\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-1163\"><p>The forced-liquidation threshold is generally set at 20% of the Initial Margin (IM) required for your open positions.<\/p><p>When your account equity falls below 50% of the IM, it enters Low Equity status, where Phillip Nova may\u2014but is not obliged to\u2014issue a warning or initiate liquidation on a best-effort basis.<\/p><p>If your equity continues to decline to 20 % of the IM or lower, Phillip Nova may, at its sole and absolute discretion and without prior notice, forcibly liquidate part or all of your positions to protect its interests and cover potential losses.<\/p><p>Phillip Nova reserves the right to amend the Low Equity and Stop-Loss thresholds at any time without notice, based on prevailing market conditions and the risk profile of each account. Customers should monitor their equity closely and maintain sufficient funds to avoid forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1164\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-1164\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to prevent force liquidation? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1164\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-1164\"><p class=\"font-size-18\">Top-up your account or reduce positions so that equity meets or exceeds Initial Margin. Deposits must be cleared and booked to avoid liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1165\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-1165\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to top up my account?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1165\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-1165\"><p class=\"font-size-18\">Follow deposit instructions and send remittance proof to <a href=\"mailto:nova_mo@phillip.com.sg\">nova_mo@phillip.com.sg<\/a>.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1166\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-1166\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">If my portfolio consists of both Securities and Derivatives (including Futures, Options, and OTC FX), will my Securities be liquidated in the event of low equity for Derivatives?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1166\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-1166\"><p>If you have opted in for Shares Margin Trading, your securities will be liquidated.<\/p><p>Please note that your fully paid-up securities may also be forced liquidated if an overloss arises in your account. This measure is being taken to cover any outstanding deficits.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1167\" class=\"elementor-tab-title\" data-tab=\"7\" role=\"button\" aria-controls=\"elementor-tab-content-1167\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Do forced liquidations of US Stocks occur outside of regular trading hours?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1167\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"7\" role=\"region\" aria-labelledby=\"elementor-tab-title-1167\"><p>Phillip Nova reserves the right to liquidate positions and restore margin without any restriction to the trading session.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1168\" class=\"elementor-tab-title\" data-tab=\"8\" role=\"button\" aria-controls=\"elementor-tab-content-1168\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Can I sell off my Securities when my account runs into Low Equity for my Derivatives?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1168\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"8\" role=\"region\" aria-labelledby=\"elementor-tab-title-1168\"><p>If your account enters a low equity state, you have the option to sell your securities to meet margin requirements.<\/p><p>However, if the proceeds from the sale of your securities are not sufficient to cover the margin deficiency, your account will continue to be classified as having low equity. In such cases, additional actions, such as further reducing positions or depositing additional funds, may be necessary to resolve the situation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8e64671 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"8e64671\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Weekend Risk Policy<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-00a3986 ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"00a3986\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6701\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-6701\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is Phillip Nova\u2019s Weekend Risk Management and Exchange Holiday Policy? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6701\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-6701\"><p>Introduced in March 2020, this policy safeguards accounts for drastic market gaps during weekend or exchange holiday openings. Customers must maintain at least 80% of Initial Margin (IM) in equity to carry positions over weekends or holidays.<\/p><p>This does not apply to trading on MT5.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6702\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-6702\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How do I maintain the 80%?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6702\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-6702\"><p>Either top up your equity or reduce your positions to lower the Initial Margin requirement.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6703\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-6703\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to calculate the 80%?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6703\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-6703\"><p>Use the formula: (Equity \/ Initial Margin) \u00d7 100 = Remaining Equity in %. This shows your equity as a percentage of the required Initial Margin.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6704\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-6704\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">When is the Weekend Risk Management and Exchange Holiday Policy applied? <\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6704\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-6704\"><p>Every Friday and on the eves of exchange holidays for the relevant contracts.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6705\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-6705\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How to top up my account?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6705\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-6705\"><p class=\"font-size-18\">Follow deposit instructions and send remittance proof (screenshots) to <a href=\"mailto:nova_mo@phillip.com.sg\">nova_mo@phillip.com.sg<\/a>. Follow up with a call to the Risk Management Team at 6597 3238 if no acknowledgement is received.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-6706\" class=\"elementor-tab-title\" data-tab=\"6\" role=\"button\" aria-controls=\"elementor-tab-content-6706\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What happens if I do not maintain the 80% of Weekend Risk Management and Exchange Holiday Policy?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-6706\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"6\" role=\"region\" aria-labelledby=\"elementor-tab-title-6706\"><p>Accounts that fall below the required 80% equity to Initial margin threshold are subject to forced liquidation.<\/p><p>Forced liquidation is carried out on a best-effort basis. The outcome may depend on prevailing market conditions and available liquidity at the time of liquidation.<\/p><p>You are responsible for monitoring your accounts and maintaining sufficient margin at all times to avoid forced liquidation.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-67a520a ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"67a520a\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"final-notice-day\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1f16771 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"1f16771\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Final Notice Day\/Last Notice Day<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e3f622a ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"e3f622a\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2391\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-2391\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What will happen if I do not liquidate my open positions one business day before FND\/LTD?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2391\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-2391\"><p>If you do not liquidate your open positions one business day before FND\/LTD, you might face the risk of physical delivery.\u00a0<\/p><p>Physically deliverable futures have to be liquidated one day prior to FND (First Notice Day) and\/or LTD (Last Trading Day). However, there are some contracts which require earlier liquidation[i]. This is to avoid the risk of illiquidity as contracts near expiry.<\/p><p>The day a contract has to be liquidated is known as its Liquidation Day. On Liquidation Day, expiring positions have to be liquidated or rolled no later than 11pm Singapore time or 30 minutes prior to the close, whichever is earlier.<\/p><p>Please contact the Futures Dealing Desk at (65) 6535 1155\/ (65) 6536 7633 if you require any further clarifications on liquidating your open position to avoid physical delivery.<\/p><p>[i] Including but not limited to NYMEX WTI Crude Oil futures (CL) and exchanges such as APEX, BURSA, DCE, HKEX, INE, JPX and ZCE.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2392\" class=\"elementor-tab-title\" data-tab=\"2\" role=\"button\" aria-controls=\"elementor-tab-content-2392\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">If I do not wish to take physical delivery, when do I have to liquidate my positions?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2392\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"2\" role=\"region\" aria-labelledby=\"elementor-tab-title-2392\"><p>We encourage you to liquidate your position for your physical deliverable contract at least two days prior to FND for long positions and at least two days prior to LTD for short positions. This is to mitigate the risk of thin liquidity. Phillip Nova will assist to liquidate all open positions that are not squared one day prior to the FND\/LTD.<\/p><p>However, please note that the liquidation day may vary due to the nature of product, exchange requirements or holidays. Please contact the Futures Dealing Desk at (65) 6535 1155 or Commodities Dealing Desk at (65) 6576 9810 to check on the actual liquidation day for the contract you are trading in, or look out for the notification email sent to you when the contracts are nearing expiry.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2393\" class=\"elementor-tab-title\" data-tab=\"3\" role=\"button\" aria-controls=\"elementor-tab-content-2393\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How will I know if my futures contract is approaching First Notice Day and Last Trading Day?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2393\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"3\" role=\"region\" aria-labelledby=\"elementor-tab-title-2393\"><p>You are strongly encouraged to monitor your positions so that you are aware of the FND\/LTD of the respective future contracts in your portfolio.<\/p><p>You will be reminded to liquidate affected positions via email.<\/p><p>Failure to liquidate or roll your position(s) by the required time will result in force liquidation by Phillip Nova Pte Ltd. This is necessary in order to prevent any physical delivery of the contract which we do not facilitate.<\/p><p>The liquidation by Phillip Nova will be carried out on a \u201cbest efforts\u201d basis. In the event that we are unable to carry out the liquidation successfully, we will not be held liable to our clients for any direct or indirect losses, costs or damages of any kind arising from your position being subjected to delivery.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2394\" class=\"elementor-tab-title\" data-tab=\"4\" role=\"button\" aria-controls=\"elementor-tab-content-2394\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">Why do I have to liquidate\/rollover my position towards the First Notice Day and Last Trading Day?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2394\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"4\" role=\"region\" aria-labelledby=\"elementor-tab-title-2394\"><p><strong>To avoid physical delivery<\/strong><\/p><p>The vast majority of physical deliverable futures contracts are traded by hedgers or speculators with no interest in taking or delivering the underlying asset. Most traders simply close out the positions by purchasing offsetting contracts to avoid the risk of physical delivery.<\/p><p><strong>To avoid thinning liquidity<\/strong><\/p><p>Towards the last day of trading, physically-settled contracts will typically experience thin liquidity. This is due to the fact that traders who do not intend to convert their futures contracts to physical goods would have already exited the market either by rolling over their positions to the next delivery month or simply closing out their positions to avoid physical delivery. Naturally, such actions by traders who hold larger positions would have more significant impact on price movements and markets are therefore subject to more intense volatility as the futures contracts head towards expiration.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-2395\" class=\"elementor-tab-title\" data-tab=\"5\" role=\"button\" aria-controls=\"elementor-tab-content-2395\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">What is the First Notice and Last Trading Day for a particular contract?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-2395\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"5\" role=\"region\" aria-labelledby=\"elementor-tab-title-2395\"><p class=\"font-size-18\">Please approach our Client Service team at the <a href=\"https:\/\/www.phillipnova.com.sg\/contact-us\/\">Main Office<\/a> or Investor Centres during operating hours for more information on the First Notice and Last Trading Day.<\/p><p class=\"font-size-18\">You can also contact the Client Service team at (65) 6538 0500 or email <a href=\"mailto:nova@phillip.com.sg\">nova@phillip.com.sg<\/a>.<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-14b7c9b ob-has-background-overlay elementor-widget elementor-widget-menu-anchor\" data-id=\"14b7c9b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"menu-anchor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-menu-anchor\" id=\"forced-liquidation\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-dc1afef ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"dc1afef\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h2>Forced Liquidations<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e6e140 ob-has-background-overlay elementor-widget elementor-widget-toggle\" data-id=\"7e6e140\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"toggle.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle\">\n\t\t\t\t\t\t\t<div class=\"elementor-toggle-item\">\n\t\t\t\t\t<div id=\"elementor-tab-title-1321\" class=\"elementor-tab-title\" data-tab=\"1\" role=\"button\" aria-controls=\"elementor-tab-content-1321\" aria-expanded=\"false\">\n\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon elementor-toggle-icon-right\" aria-hidden=\"true\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-closed\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" viewBox=\"0 0 16 16\" fill=\"none\"><line x1=\"8.25\" y1=\"0.716797\" x2=\"8.25\" y2=\"15.7168\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><line x1=\"15.5\" y1=\"8.4668\" x2=\"0.5\" y2=\"8.46679\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t<span class=\"elementor-toggle-icon-opened\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"3\" viewBox=\"0 0 16 3\" fill=\"none\"><line x1=\"15.5\" y1=\"1.4668\" x2=\"0.5\" y2=\"1.4668\" stroke=\"#2471C6\" stroke-width=\"2\"><\/line><\/svg><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-toggle-title\" tabindex=\"0\">How are forced liquidations carried out?<\/a>\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<div id=\"elementor-tab-content-1321\" class=\"elementor-tab-content elementor-clearfix\" data-tab=\"1\" role=\"region\" aria-labelledby=\"elementor-tab-title-1321\"><p>When an account is subject to forced liquidation, several approaches may be utilised. These include hedging positions or referencing prices from similar products if necessary. Throughout this process, access to the trading system may be disabled to prevent further activity, and all active orders associated with the account may be cancelled.<\/p><p>It is important to understand that slippage can occur during the liquidation process, potentially resulting in deficits within your account. Such risks are inherent to leveraged and securities margin trading. If your account experiences a deficit or overloss due to our forced liquidation, you are responsible for settling the shortfall.<\/p><p>Please note that your fully paid-up securities may also be forced liquidated if an overloss arises in your account. This measure is being taken to cover any outstanding deficits.<\/p><p>All actions related to forced liquidation are conducted on a best-effort basis and at our discretion. In periods of unforeseen market events and volatile conditions, the liquidation process may be delayed or hampered. For this reason, customers are strongly advised to maintain sufficient margin at all times and not to rely on forced liquidation as a primary risk management measure.<\/p><p>Phillip Nova reserves the right to amend the forced liquidation threshold in accordance with market conditions and the risk profile of each account.<\/p><p><span data-olk-copy-source=\"MessageBody\">Please be reminded that deposits made to Phillip Nova are not immediately received and instructions to liquidate in part or all of your positions may still arise before your funds are credited into your account.<\/span><\/p><p>To avoid forced liquidation of positions, funds must be cleared and booked into your account\/trading platform.<\/p><p>Under all circumstances, liquidation instructions are irrevocable once given, notwithstanding that we may still be in the process of receiving your funds or crediting them into your account\/trading platform.<\/p><p>\u00a0<\/p><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6ecae00 elementor-align-center ob-has-background-overlay elementor-widget elementor-widget-button\" data-id=\"6ecae00\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_butterbutton_use_it&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.phillipnova.com.sg\/cn\/faq\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Back to FAQ homepage<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"ob-is-breaking-bad elementor-section elementor-top-section elementor-element elementor-element-a1126db elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"a1126db\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_ob_bbad_use_it&quot;:&quot;yes&quot;,&quot;_ob_bbad_sssic_use&quot;:&quot;no&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-84ff0ad\" data-id=\"84ff0ad\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;_ob_bbad_is_stalker&quot;:&quot;no&quot;,&quot;_ob_teleporter_use&quot;:false,&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"ob-is-breaking-bad ob-bb-inner elementor-section elementor-inner-section elementor-element elementor-element-2d16c3c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"2d16c3c\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;_ob_bbad_use_it&quot;:&quot;yes&quot;,&quot;_ob_bbad_sssic_use&quot;:&quot;no&quot;,&quot;_ob_glider_is_slider&quot;:&quot;no&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-c37f5ca\" data-id=\"c37f5ca\" data-element_type=\"column\" data-e-type=\"column\" data-settings=\"{&quot;_ob_bbad_is_stalker&quot;:&quot;no&quot;,&quot;_ob_teleporter_use&quot;:false,&quot;_ob_column_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_column_has_pseudo&quot;:&quot;no&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7a86a40 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-heading\" data-id=\"7a86a40\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_harakiri_text_clip&quot;:&quot;none&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Can't find what you are looking for?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0246f37 font-size-18 ob-harakiri-inherit ob-has-background-overlay elementor-widget elementor-widget-text-editor\" data-id=\"0246f37\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_ob_use_harakiri&quot;:&quot;yes&quot;,&quot;_ob_harakiri_writing_mode&quot;:&quot;inherit&quot;,&quot;_ob_postman_use&quot;:&quot;no&quot;,&quot;_ob_perspektive_use&quot;:&quot;no&quot;,&quot;_ob_poopart_use&quot;:&quot;yes&quot;,&quot;_ob_shadough_use&quot;:&quot;no&quot;,&quot;_ob_allow_hoveranimator&quot;:&quot;no&quot;,&quot;_ob_widget_stalker_use&quot;:&quot;no&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Should you have any query, you may contact us at <a style=\"color: #2471c6; text-decoration: underline;\" href=\"tel:(65) 6538 0500\">(65) 6538 0500<\/a> or<br \/>email us at <a style=\"color: #2471c6; text-decoration: underline;\" href=\"mailto:nova@phillip.com.sg\">nova@phillip.com.sg<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Margin Trading &amp; Important Trading Dates Key Definitions What is First Notice Day (FND)? First Notice Day refers to the first date where notices of intention to deliver the actual commodities against futures are authorised. This date varies by commodity and exchange. If you are holding a long futures position, you will need to liquidate [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":3120,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-5008","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Margin Trading &amp; Important Trading Dates - Phillip Nova - Bringing global markets closer to you<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.phillipnova.com.sg\/cn\/faq\/margin-trading-important-trading-dates\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Margin Trading &amp; Important Trading Dates - Phillip Nova - Bringing global markets closer to you\" \/>\n<meta property=\"og:description\" content=\"Margin Trading &amp; Important Trading Dates Key Definitions What is First Notice Day (FND)? 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