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Tracking my money

For which service would you like more information regarding tracking your money?

 

Margin Trading:

 

International Currency Transfers:

 

 

Margin Trading

Depositing & Withdrawing Funds

  1. How do I deposit funds?
    Once you have opened a trading account, we will email you all the details of our client bank account. You can then simply do a bank transfer to deposit the money. You can also deposit money with your credit card, which is instant; send a cheque, or deposit money at a bank branch. Click here to see how to deposit funds and the details of each payment method. 
  2. How long will it take for funds to show up in my account so I can start trading?
    Payments made by credit card will show up immediately.
    Payments made in NZD from an ASB account or an AUD payment from a CBA account are processed intra-day and should be credited to your trading account in 2-3 hours. 
    Transfers from other NZ banks are transferred overnight and should show up in your trading account the next morning.
    International transfers made via SWIFT can take one or more days for us to receive the cleared funds, depending on your bank and what correspondents they use. Your bank will likely charge you for this service, please check with them for a list of fees and charges. 
    We recommend funding your account by credit card so you can start trading immediately. Other forms of payment may mean a delay in clearing funds.
  3. How do I withdraw funds?
    To withdraw funds from your margin trading account:
    Fill out the online form and submit it to us. 
    Or download and complete the withdrawal-form.pdf and email or fax it back to us.

By default, when you withdraw funds, we send them to the bank account you nominated when registering for an account. If your bank account has changed or you would like to nominate a new account in which we will send your funds, complete this form and email or fax it back to us.
Click to download: notification_of_account.pdf
We will act on withdrawal forms immediately and let you know when it’s complete. 

How much can I withdraw at any one time?
There is no maximum withdrawal amount and you can withdraw any funds not required for margining. Note that if you withdraw money from your account and leave insufficient margin, then your positions could automatically be closed out.

Click here to see instructions for how to deposit and withdraw margin funds

What is leveraged margin trading?
Foreign currencies and CFDs are leveraged and are traded on margin. This means that for a small outlay you get a much larger position on the actual exchange or stock market and your profits or losses are multiplied. For example, if you are trading AUS/NZD and the margin rate is 1%, to get a $10,000 position on the market you only have to deposit $100 into your trading account as your margin but will make your profit/loss as if you were actually trading $10,000. To trade margin FX and CFDs, all you need to do is sign up to open a account with one of our trading platforms. Once you have completed your registration to open a trading account, we send you an email with the details you need to login to the platform and how to deposit your money. 
Click here to see examples of how margin trading works or click here to see a list of our margin requirements.

 

 

    

Depositing & Arrival of Funds

  1. How do I deposit funds?
    Once you have opened an account and put through a deal for a currency transfer, the LatitudeGT platform will inform you of which of our bank accounts to transfer your funds to. This bank account will depend on the currencies in which your deal is made.
    You can transfer your money to this account by doing a bank transfer, sending a cheque or depositing money at a bank branch.
    **We absorb all transfer fees so you will not have to pay to transfer your money to our Velocity Trade account or for us to transfer your money to its final destination**
  2. When will payment be transferred?
    Once your money has been received at our Velocity Trade bank account it will then be transferred via SWIFT to the receiving bank account as nominated by you.
  3. How do I know when Velocity Trade has received my money?
    Payments made in NZD from another ASB account or or a special same-day cleared payment will be received into Velocity Trade's ASB account intra-day. All other transfers in NZD and AUD are received overnight.
    International transfers made via SWIFT can take one or more days for us to receive the cleared funds, depending on your bank and which corresponding banks they use. Your bank will likely charge you for this service, please check with them for a list of fees and charges.
  4. How long will it take to make the global currency transfer?
    In our experience, most payments take 2-3 business days to be transferred. NZD and AUD transfers can take less, sometimes with overnight arrival. We cannot guarantee exact transfer times as transfers are made overseas by various banks and so the exact arrival of your funds is determined by the speed and relationships of the two banks involved in the currency transfer. We recommend that you set up transfers well in advance of any payment deadlines to ensure timely arrival of your funds.
  5. How do I know when the payee has received my transferred funds?
    First log into your LatitudeGT account and check the status of your payment.  To find this, on the platform click on the 'Track' button to find your payment on the list and check that the status says 'Settled'.  This will show you if we have sent the money to the account you specified as your payment benificiary (payee). Remember, it may take anywhere between one and three days for the funds to be received depending on the bank, country and currency involved.  If the final receiving account is an account held by you, simply check your receiving account to see if the funds have arrived. If the final receiving account is an account not held by you but instead held by another person or company, and the funds have not been received after 3 days, please have someone contact us at +64 9 918 8310 or email at admin@velocitytrade.co.nz and we will locate your funds immediately.

Click here to see bank details for where to send your money

The money transfer process
Transferring your money to a regular bank account around the world is as easy as opening an account. Once you have completed the online application to open a LatitudeGT account with us, we will contact you within a few minutes to confirm your account and provide you with your username and password to access the platform. You will then be able to log in and set up a currency transfer deal. Once you have deposited the funds that will be transferred at the specified account, we take care of the rest and safely and quickly transfer your money to its destination. You can then monitor and track your funds on the platform in real time.