Enjoy brokerage rebate up to S$50* when you trade Macquarie Structured Warrants
from 2nd January 2020 to 31st March 2020!

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Learn about warrants

Warrants give the holder the right but not the obligation to purchase securities from the issuer at a specific price within a certain time frame.

Benefits

  • Lower capital outlay with leverage
  • No margin call
  • Ability to go long or short
  • Limited Loss – maximum potential loss is limited to the total amount paid for the warrants, which is a fraction of the underlying asset
  • Transparent and flexible – listed and traded on the exchange, allowing investors to buy and sell warrants like shares
  • Diverse market access as some index and basket warrants give investors exposure to a sector or a market, eliminating the need to trade individual stocks in a market portfolio
  • Liquidity

Risks

  • Leverage is a double-edged sword where losses can be magnified when the value of the underlying asset moves against the warrant position
  • Credit risk – this occurs when warrants are exercised but the warrant issuer is unable to fulfil its obligations
  • Extraordinary event – the warrant issuer may declare a lapse of the warrant or bring forward the expiry date
  • Limited lifespan – unlike the underlying asset, warrants have expiration dates and investors holding onto warrants that expire at-the-money or out-of-the-money will lose their investment capital

Terms & Conditions:

  1. Promotion is open to Customers who execute Macquarie Structured Warrants (the “Warrants”) transaction through the following accounts (the “Eligible Accounts”): Cash Management (KC) Account, Margin (M) Account, Prepaid (CC) Account, Custodian (C) Account and Share Financing (V) Account during the Promotional Period from 2 January 2020 to 31 March 2020 (the “Promotion Period”).
  2. Promotion is limited to the first 200 unique Customers that have not traded Warrants from 30 September 2019 to 31 December 2019.
  3. The brokerage rebate is subject to a cap of S$50 per Customer regardless of the number of Eligible Accounts through which the Customer places Warrants trades during the Promotion Period.
  4. The rebate is not inclusive of the SGX clearing Fee, the SGX access fee, and the GST.
  5. The rebate will be credited to the Eligible Accounts.
  6. Eligible Accounts will receive the rebate by 31st July 2020.
  7. The following persons are not eligible for this promotion, unless approved by the management of Phillip Securities Pte Ltd (“PSPL”):
    1. PSPL institutional Customers and corporate Customers
    2. PSPL account holders whose accounts have been suspended, cancelled or terminated
    3. PSPL and its associated entities and subsidiaries (direct or indirect), e.g. Staff, Trading Representatives and Financial Advisors
  8. In the event of a dispute over the Customer’s eligibility to participate in this promotion, PSPL’s decision will be final.
  9. PSPL reserves the right at any time in its absolute discretion to (i) amend, add to, and/or delete at any time of these Terms & Conditions without prior notice (including eligibility and qualifying terms and criteria), and all participants shall be bound by such amendments, additions and/or deletions when effected, or to (ii) vary, withdraw, and/or cancel any items or the promotion itself without having to disclose a reason, and without any compensation or payment whatsoever. PSPL’s decision on all matters relating to the promotion are final and binding on all participants.
  10. By taking part in this promotion, the participant acknowledges that he/she has read and consented to these Terms & Conditions.

Investments are subject to investment risks. The risk of loss in leveraged trading can be substantial. You may sustain losses in excess of your initial funds and may be called upon to deposit additional margin funds at short notice. If the required funds are not provided within the prescribed time, your positions may be liquidated. The resulting deficits in your account are subject to penalty charges. The value of investments denominated in foreign currencies may diminish or increase due to changes in the rates of exchange. You should also be aware of the commissions and finance costs involved in trading leveraged products. This product may not be suitable for clients whose investment objective is preservation of capital and/or whose risk tolerance is low. Clients are advised to understand the nature and risks involved in margin trading.

This advertisement has not been reviewed by the Monetary Authority of Singapore (MAS).