Safety of funds
At TradeDAX, the priority is the client’s funds that are why there is strict policy on safety measures taken to safeguard the clients’ money. This is enabled by the desperate actions and policies of the forex trade that are curbing any loss that can manifest from the business environment. This builds confidence in customers who are sometimes in need of transacting colossal sums of money and not sure whether there are measures that are in place to help get the assurance that their money shall be safe. Many of the forex trading companies are not so keen on the safety of their clients’ money, and many clients develop cold feet in entrusting their money to such forex companies. Every account a special surveillance that ensures no internal or external harm or that can befall their money. Having a belief that your funds are safe and sound brings forth a satisfaction that is durable and helps the clients to have a good rapport with the trading firm. TradeDAX is that companies that assure customers of the safety of their money.
• As specified by the rules of the client money inflicted on us by our usual regulators, TradeDax is compelled to segregate all the funds of its retail clients from its funds. All our customer funds are kept in different bank accounts with the top tier one banks of the world. TradeDax practices all due skill, diligence, and care in its periodic review, appointment, and selection of third parties
• TradeDax exercises all due skill, care and diligence in its third parties periodic review, appointment, and selection to which it deposits assets or client money. As such every client money is held in the separate accounts of the Client Money of managed companies at NAB Bank, BMO Harris Bank, or Barclays Bank PLC.
TradeDax present trading lines Bonds or Bank Guarantees on foot issued to it. In this way, the Customer Funds stay with the Bank Accounts of the customer, and the customer is capable of trading with the Trading Line provided to the customer by TradeDax.
TradeDax provides banks, brokers, and institutional customers a settlement facility for increasing their funds' security level by fixing the NOP (Net Open Position) LTD on the trading account of customers. The settlement facility is going to promote the granting an allowed Net Open Position limit without margin check which is going to leverage up the Customer's trading account and fix the Net Open Position in spite of any market movements (P&L changes). The customer using the settlement facility is going to deposit with TradeDax, a cash guarantee amount which is will be segregated in a different guarantee account.
Depending on the Customer’s trading account Profit and Loss statement, the Customer and TradeDax will settle when an agreed period ends, according to the Profit and Loss statement. In case the Customer doesn’t settle the Profit and Loss promptly, TradeDax is going to use the funds that are in the cash guarantee account of the Customer to maintain the Net Open Position of the account.