In order to cover the negative balance inside your Euro Pacific Trader (EPT) account, you’ll first want to decide which available cash balance you want to use.
You can transfer existing cash from your bank account, or use available cash inside your EPT account. Where do you want to transfer the funds from?
Option 1: From my bank account
Please follow the standard Transfer Between Own Accounts procedure to fund your EPT account with the intended currency.
Remember, you are able to fund cross-currency, meaning that you can transfer funds from your USD bank account to your GBP brokerage account, and the system will convert it for you upon transfer.
Please read the full instructions above for more details.
Option 2: From my existing EPT balance
You cannot convert/transfer funds between balances inside your EPT account. In order to “convert” funds inside your EPT account, you must transfer the funds to your bank account first.
Please follow these steps
1. Use the Between Own Accounts transfer in the Transfer menu to transfer the funds back to your bank account.
Note: If your cash is “collateralizing” any open positions, you may not be able to remove the cash out of your EPT account, as the system will attempt to reject your requests in order to protect your positions. However, if the system allows, withdrawal requests entered in a margin account may be honored, thus it is ultimately your responsibility to ensure that any withdrawal requests leave sufficient collateral in your account to prevent a margin call/liquidation.
2. Request another transfer from your newly-funded bank account to the brokerage account in the currency you’d like to fund.
Remember, you are able to fund cross-currency, meaning that you can transfer funds from your USD bank account to your GBP brokerage account, and the system will convert it for you upon transfer.
3. Please continue with the standard Transfer Between Own Accounts procedure.