Company Profile- Client Funds 2019-04-11T09:58:16+00:00

Company Profile

CMG mission is to always put emphasis on quality of service with integrity as the broker of choice.

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Client Funds
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Client Monies

All client funds we receive are held by AxiTrader in accordance with and subject to Part 7.8 of Division 2 of the Corporations Act and ASIC Regulatory Guide 212: Client money relating to dealing in OTC derivatives. Where required, client funds will be paid into a trust account maintained by us with an authorised deposit- taking institution (ADI).

When you establish an account with CMG you are identified as a retail client. This means that we provide you with information concerning the risks, benefits and features of the products traded on your account, as well as, the treatment of monies lodged with us (e.g., your initial margin deposit – ‘client monies’).

At a certain point of a client’s trading if the value of the financial products held in their account reaches AUD 500,000 equivalent (determined by the total leverage amount available from your initial and subsequent margin deposits and in accordance with regulations), they may be reclassified as a wholesale client.

This may affect you because there are different rules for the handling and use of our clients’ monies for retail and wholesale clients. As a retail client AxiTrader is limited in the uses of those monies, while as a wholesale client AxiTrader is allowed to utilise client monies more widely. It is important to remember in either case, retail and wholesale client monies are pooled separately in segregated accounts with an Authorised Deposit-Taking Institution (ADI).

Clients should take care to understand that our holding of client monies in one or more Segregated Accounts does not afford them absolute protection and that in the event of CMG becoming insolvent clients become unsecured creditors. A further discussion on this topic is available in section 7 of the Product Disclosure Statement and section 20.6 of the Client Agreement.

Client funds are currently held in Client Segregated Trust Accounts with the following Banks:

  • National Australia Bank Limited

  • CMG is a corporate authorised representative of AxiCorp Financial Services Pty Ltd. As a corporate authorised representative, CMG is required to segregate all client funds in a separate bank account.

  • Where required, client funds will be paid into a trust account maintained by AxiTrader with an Authorised Deposit-Taking Institution (ADI).

  • Encryption technology is implemented to further provide a secure connection for extended protection of client information and their transactions.

  • CMG is committed to providing complete transparency.

Level 10, 90 Arthur Street,
North Sydney NSW 2060, Australia

P: +61 2 4036 3165
E: support@cmgau.com

Authorised CAR under AxiCorp’s AFSL
ACN 618 480 998. CAR 001256635

Risk Warning: CMG Australia Pty Ltd (ACN 618 480 998 & CAR No. 001256635) ‘CMG’, is a corporate authorised representative of AxiCorp Financial Services Pty Ltd (ACN 127 606 348 & AFSL No. 318232). Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. CMG is not a financial adviser and all services are provided on an execution only basis. CMG is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. CMG recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.cmgau.com or can be obtained free of charge by calling CMG. The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of CMG’s financial products or services. The information on this website is for Australian residents only.