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ABOUT YOUR CBS ACCOUNT
About your account held with Commodity Broking Services
Please find following a Q+A session about your account held at CBS- What Markets can I Trade?
You can access from your online account 150+ different currency pairs in the spot forward and options markets; CFDs and Equities from 22 major Stock markets; Futures markets from all the major Exchanges. Our commodity accounts provide access to all commodity futures, options and physical sales. - Who regulates CBS?
The Australian Securities and Investment commission commonly known as ASIC (www.asic.gov.au) licenses that enables CBS to operate its services under. Yearly Audits are submitted to ASIC to make sure that all compliances issues, accounting practises and liquidity adequacy levels are adherred to in order for CBS to maintain its licenses. Also, the Australian Prudential Regulation Authority known as APRA (http://www.apra.gov.au/) regulates deposits takings and CBS has to provide yearly audits of process. - If I have a trading dispute, who can I talk to?
Naturally, we will look to solve this issue. If you are unsatisfied with the outcome then as CBS is a member of the Financial Industry Complaints Services known as FICS you can contact them for an independent view and if nessecairy request for a hearing. http://www.fics.asn.au - What happens to my Initial margins and deposits when I open an account?
All client money is held in a Client Segregated Trust Account completely separated from company accouts. - When I purchase equities through the Falcon Trader, what happens to the script; is it Chess sponsered?
All script whether domestic or international when purcahsed online are held in a Custodial Account as Citi Bank or Goldman Sachs depending on the market traded. These are client custodial accounts. - Who is Saxo Bank?
CBS has an IT relationship with Saxo Bank out of Denmark (http://www.saxobank.com) they provide our online trading system the "Falcon Trader". If you have an online account then your deposits are placed in their Client Segregated Trust Account. - Are my deposits safe with Saxo Bank?
Saxo is owned by General Atlantic (US Fund), Banco Best (Portugal), Synthesis Bank Swiss (which is know Saxo), employees and two private owners. It was founded in 1992. It is registered as a Euro bank which is regulated by the European Union as well as SAXO follows the MiFid Directive(http://en.wikipedia.org/wiki/MiFID) which CBS adheres to. In addition Saxo are members to the Danish Guarantee Fund for Depositors and Investors which protects individual client Funds up to EUR 40k if Saxo default in any way (http://www.saxobank.com/?id=960&Lan=EN&Au=1&Grp=5). - Given the current Global credit and equity loans crisis, does CBS or Saxo operate Equity Margin Loans?
CBS nor Saxo operate margin loan books and so do not have that level of risk. We operate on a Broker level only with all deposits and holdings in Client Segregated Trust accounts and Custodial Acccounts.
