Margin Call Policy

Should your total account position fall into negative you must immediately pay Variation Margin to bring it back into positive.

Variation Margin is immediately due and payable in order to maintain open positions. We will normally call you to advise you that Variation Margin is due but we are under no obligation to do so. It is your responsibility as the client to ensure you understand how the margin is calculated and it is therefore essentially your responsibility to monitor your own positions.

Variation Margin payments should be sent on the first day that they fall due, not on day 3. The 3 day rule is to allow bank transfers ample time to reach our WorldSpreads bank account.

We do not offer credit accounts for our international customers, but you do become an immediate credit risk as soon as Variation Margin falls due.

For example:

Account Balance                     +£1950.00
Opens Marked to Market        - £1650.00
Less Initial Margin                  - £1350.00
Account Position                   - £1050.00

Variation Margin is not the total extent of your financial liability to Alpesh Patel Spreads.

Alpesh Patel Spreads will usually make efforts to contact you initially by email to request your margin call. You should respond to this email and make immediate arrangements to initiate payment to cover this call or start to reduce or close your positions on the first day of the margin call.

In any event, should we need to compulsory close your position(s) we reserve the right to close any or all, in whole or in part, of your open bets on our current or next available market quotation. Generally these closures will be carried out by us at either 12 noon or 16.00 on the day in question, but we do reserve the right to effect immediate closures at any time as follows:

• If variation margin is not received within 3 business days of becoming due
• If the amount of variation margin due exceeds three times your account balance.
• If we consider that you are unlikely to meet the variation margin payment
• If any cheque or payment is dishonoured on first presentation
• If you become insolvent
• If you should be committed as a patient under the mental health legislation or if we believe the same to be true.
• If we are in dispute with you in relation to any order or bet or instruction
• Subject to FSA rules, we may in our absolute discretion allow you to run open positions or open bets where you have not met any due variation margin payment

We reserve the right to insist that variation margin in excess of £10.000 to be received by same day telegraphic transfer or any other method of immediate or electronic funds transfer acceptable to Alpesh Patel Spreads by 16.00hrs (UK time) that same day.

Notes:

• Generally, we do not call or close out positions if the call is less than £100
• Generally, we do compulsory close all positions; therefore it is in your best interest to reduce/close your own positions if you are unable to remit the required margin call.
• When bank transfers are sent a copy of the bank receipt or proof of payment is required. Email enquiries@alpeshpatelspreads.com
• Name and APS account number should always be quoted as a reference when sending us any payments.
• To discuss any margin issues please telephone  0207 291 7398 5283

Our Bank Details:

Our bank details are as follows:

ROYAL BANK OF SCOTLAND
62/63 Threadneedle Street
London EC2R 8LA

Sterling Account

Sort Code: 15-10-00
Account No: 22103388
BIC/SWIFT: RBOSGB2L
IBAN: GB19RBOS15100022103388
Name:  Worldspreads Ltd Client Segregated Account

Euro Account

Account Name: WOSPCLSE-EURA
IBAN:  GB78RBOS16107010075784
Sort Code: 15-10-00

* Initial Margin Deposits are required before placing any positions.

Derivatives are usually calculated as follows:

Stake x IMR = IM Deposit

You want to buy £10 of UK 100 FUTURE to open

10 x 150 = IM Deposit of £1,500 is required

Equities

Stake x IMR % x Opening price = IM Deposit

You want to sell 1000 shares of Banco Santander – Rolling to open

10 x 10% x 1274.6 = £1,274.60 is required

* See market information sheets for more information.