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Cash accounts must cover costs of positions and can't have a negative balance. Market orders include an extra 5% to account for price uncertainty. If you receive a rejection despite having sufficient funds, try a Limit order or reduce the Market order size. For foreign securities, perform a currency conversion and wait for settlement. Visit the MEXEM Knowledge Base for more details.
Read MoreNon-base currency balances may limit your withdrawals. Convert these balances via the MEXEM guide. If you have a cash account, await trade or currency conversion settlements before withdrawing. Be aware of withdrawal restrictions after depositing funds. For trading non-US index options and spot metals, internal transfer may be needed. Consult MEXEM's guides for further details.
Read MoreCash accounts use deposited cash to purchase assets, without borrowing from MEXEM. Upgrade to a margin account using the instructions in "How do I upgrade my account to use Margin?" More info on margin trading on our website.
Read MoreMEXEM uses 4 steps to calculate the daily interest payable or receivable on cash balances.Interest is calculated on the end of day Settled Cash Balance. If you sell a stock short and close the short in the same trading session, borrow fees would not be applied as both the opening sale and closing purchase would settle on the same day.Information on how interest is calculated may be found on our website under Interest and Financing / Calculations.
Read MoreSMA is a credit line in your MEXEM Universal Account's Securities segment when securities increase in value. Trading commodities may reduce SMA as cash moves to the Commodities segment. After closing a contract, you can sweep settled cash back to the Securities segment. SMA is not transferable to cash.
Read MoreSMA in MEXEM Universal Account is a credit line from securities' value increase. Only Securities segment funds count. Trading commodities reduces SMA as cash moves to Commodities segment. After contract closure, sweep settled cash back to Securities segment. SMA can't be transferred to cash. See MEXEM Knowledge Base.
Read MoreSelling a security may lead to "Insufficient Settled Cash" for subsequent transactions until settlement. Caused by "Cash" accounts' limitations or applying proceeds to futures in another segment. Solutions: Wait for settlement, deposit more funds, or reduce order size. Buying foreign securities in "Cash" accounts may require currency conversion and settlement wait.
Read More"Insufficient Settled Cash" may occur after selling a security, limiting immediate use for further transactions until settlement. Caused by "Cash" account restrictions or using proceeds for futures. Solutions: Wait, deposit more, or reduce order size. "Cash" accounts may need currency conversion and settlement wait for foreign security purchases.
Read MoreBuying Power depends on the product traded and account type. For a $100,000 cash balance, buying power equals the balance in a Cash account, doubles in a Reg. T account, and can exceed six times in a Portfolio Margin account. It decreases as trades are made. More info on MEXEM's resources.
Read MoreTo open a cash account, click 'Open Account' on our homepage and select Cash Account during the application process. If you're an existing Mexem client, log into Client Gateway/Account Management and navigate to Settings > Account Settings. Select 'Create a New Individual, Joint or IRA Account' linked to your existing account. Follow the prompts, choose Cash Account, and submit for review by our Compliance Officer.
Read MoreInvesting on margin means borrowing funds to open a position. If an account's overall cash balance is negative, it indicates a loan subject to interest fees. Despite a positive overall balance, there could still be a loan due to balance netting or timing differences. For more info, check the MEXEM Knowledge Base article on identifying borrowed funds.
Read MoreCash accounts can't trade Forex on leverage but can convert currencies. As Forex involves buying one currency and selling another, the sale may result in a short position unless it closes or converts an existing long one. Thus, Forex orders leading to a short balance in any currency won't be accepted in a cash account.
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All investments involve risks, including the possible loss of capital.
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