Account types and settlement
Netfonds Plus - Cash settlement directly from client account:
For customers who do not wish to trade on credit. Cash must be transferred to your client account before you can start trading. When you buy securities, the purchase sum will be subtracted directly from the client account. Cash settlement when selling will be added to your client account.
Netfonds Trader with credit - Margin account:
Netfonds can lend you funds to finance your purchases. The loan is granted automatically and is secured by your securities. Customers need to sign an extra agreement for this type of account.
Netfonds Trader Intraday - Account with intraday credit limit:
For customers who trade actively and wish to have an expanded credit limit during the opening hours of the stock exchange. With an Intraday Trader account you will be granted an intraday credit based on your cash and security balance at the beginning of the day. Currently, the money available for trading is three times your cash balance plus half the value of your securities.
By the end of the trading day, the complete net sum should not exceed the available balance on your account, including additional fees. The fees are due by 09.00 the following trading day. We do not accept sales of securities to cover lacking settlement amounts from former trading days. The account holder accepts that, if he or she exceeds the trade account limit, Netfonds will perform sales, without notice, of the account holder's securities on the securities account where Netfonds is the registrar. The account holder is obliged to have an overview of his or her balance and to check that all payments are performed correctly through the web site.
A client account at Netfonds consists of:
Norwegian securities are registered in Verdipapirsentralen VPS (The Norwegian Central Securities Depository). Swedish and Danish securities are forvalterregistrert at SE Banken in Stockholm and Copenhagen, and American securities are forvalterregistrert at Merril Lynch in New York.
Cash deposits on bank accounts in Netfonds Bank are guaranteed up to 2 million NOK. Netfonds Bank is a member of The Norwegian Banks' Guarantee Fund.