Do I need to have funds in my Macquarie CMA before I place an order?

Do I need to have funds in my Macquarie CMA before I place an order?

Funds must be available in your Macquarie CMA before placing a BUY order as the order will not execute if there are insufficient funds.  For funds to be available to trade, they should be available in your Macquarie CMA, as cleared funds, by close of business the day prior.  The Focus platform relies on the cash balances updated from Macquarie at around 3am each morning.  Therefore, funds deposited after this time will not be available in the platform until the next business day. 

Please remember to take into consideration the time it takes for Macquarie to 'clear' the funds.  For more information see How long does it take to transfer money into my Macquarie CMA.

For SELL orders, brokerage will be deducted from the value of the trade and remaining nett funds will be available to trade immediately.


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