Financial Markets

  • Are there costs for transferring my securities portfolio?

    For the transfer of securities to Banco Carregosa, please consult the price list of the Bank of origin. However, there are no fees at Banco Carregosa for their receipt in the case of Euronext securities. If you wish to transfer securities from other markets, please contact us so we can inform you of the procedures to be followed.

    If you are transferring from Banco Carregosa to another intermediary, the costs indicated in the price list will apply.

  • Can I place orders by phone?

    Yes. You can give the order directly to the stock exchange operators, although the trading fee may be higher when the orders are received this way. For more information, please see our Fees.

  • How do I know the situation of an order?

    By consulting the orders, you can check in real time if your order is in the following situations:

    • Being processed: the order was received by Banco Carregosa, but has not been confirmed by the market and may be pending authorisation.
    • Sent: the order was sent and is active in the market.
    • Changed: the order was replaced and is no longer active.
    • Cancelled: the order was cancelled by the user or exceeded its validity date.
    • Rejected: the order was not authorised or was not accepted by the market.
    • Partially executed: the order was only partially executed.
    • Executed:the order was fully executed.

  • What are the validity options available for orders?

    Depending on the market/platform where you want to enter an order, you have the following options:

    • At The Close – Order that only participates in the closing auction and is cancelled if not filled.
    • At The Opening – Order to the market that only participates in the opening auction and is cancelled if not filled.
    • Day – Order valid until the end of the day.
    • Fill or Kill – Order that must be filled in its entirety, otherwise it is cancelled.
    • Good Till Cancel – Order with maximum validity. In Euronext, the validity of these orders is 1 year.
    • Good Till Date – Order with validity until the date indicated.
    • Immediate or Cancel – Order that must be filled immediately, even if partially, or it is cancelled.

  • What is the parameter Price for when entering and order?

    When this parameter is not filled in, the customer enters an order to the market. That is, buy or sell at the best price at a given time, depending on the contrary orders in the market. In times of volatility or larger amounts, it can be quite different from the price of the last trading deal.

    When the price is filled in, a limit order is entered, so you enter a buy or sell order at a maximum and minimum price.

  • How does the Stop Price work?

    When you enter a buy order, if this parameter is filled in, the order will only be executed if the price of the last trading deal is equal to or less than the price indicated.

    The stop price must be lower than the price of the last trading deal when the buy order is being entered. In a sell order the price of the last trading deal must be higher than the stop price.

  • What is the minimum quantity?

    When this parameter is filled in, the order will only be executed if the minimum quantity is performed immediately. It must always be less or equal to the quantity.

  • What is the apparent quantity?

    The apparent quantity is the portion of the order that is not visible in the orders books. It must always be less than or equal to the quantity.

  • When is the sale value available?

    It is available for purchase from the time of sale, though in case of discrepancy between the date of settlement of the sale and the date of settlement of the purchase, it may imply the existence of an unauthorised overdraft and the charging of the amounts provided for in price list and inthe commissions, costs and interest ratesin effect. The financial settlement of transactions relating to share transactions is reflected in the investor's account at the end of 3 working days (2 working days for the German Stock Exchange). For Forex, this period is reduced to 2 days and in the case of CFDs financial settlement is on the same day.

  • Can I act on the prices disclosed by Stock Exchanges or entities creating liquidity?

    The Investor should always seek to act on the firm prices from several offers of purchase and sale which occur and seek to limit the prices of orders in accordance with the evolution prospects for the security, as well as always monitor its execution. Financial intermediaries cannot be held liable for any poor disclosure from primary Stock Exchanges where their assets are listed and the investor must have the notion that there is a strong and high uncertainty in the price and quantity executed in orders without a price ceiling when these reach the market.

  • Can Banco Carregosa give me buy and sell advice?

    Banco Carregosa will try to put on its website all the relevant information for determining the value of each security, as well as the proportions of each asset in an efficient portfolio according to specific criteria, but cannot tell the client what he should buy or sell. The client may, however, request the management of his account.

  • In GoBulling Pro is it necessary to subscribe to real-time quotes?

    In GoBulling Pro, the clients who do not subscribe to real-time quotes (monthly pricing of quotes in real-time and depth) monthly pricing of quotes in real-time and depth see them with a delay of about 15 minutes. This time lag, with no impact on the price of assets in the respective stock exchanges, may create price expectations in the clients that are not happening at the moment, so the orders at the best or market price should take this into account. Also for this reason, in certain market situations, especially when there are large swings in asset prices, the orders are conditioned and the system returns a rejection message ("Dealer System User rejects... Order price is too far from market").

  • Does trading and maintaining positions in derivatives require monitoring?

    The transaction of margined products requires constant monitoring of their positions. These instruments have a high risk factor if not properly managed. Gains can be rapidly transformed into losses as a result of rapid price movement. So the transaction of OTC financial assets and/or margin requires knowledge and balanced judgment.

  • What are the limits for margin use?

    The opening and maintenance of positions in derivatives (e.g. CFDs, FX and Futures) requires the investor to maintain margins that are listed in the "Trading Conditions" of the GoBulling Pro platform. If funds/assets in the account get below these margins, the account will be subject to a margin call in order to deposit/transfer funds and/or close partial/total positions held to cover these margins.

    If the margin situation is not changed, the system may forcibly close all positions held in derivatives (it will not be partial), following this sequence:

    1. At 100% you cannot open more positions that encumber the margin.
    2. At 150% a new margin warning will be sent.
    3. Close to 200% the systems informs of the closure of margin positions.

    These warnings and closure depend on the normal market conditions and the previous sequence can be fast if the conditions are for volatility, less liquidity or both.

  • In derivatives trading, could I lose more than the deposit/capital invested?

    The transaction of leveraged margin products (e.g. Futures Contracts, Options, CFDs, Forex and similar financial assets), may imply expanded real and potential outcomes. Due to the risk associated with these instruments, especially in abnormal market conditions (such as events that constrain the normal development of the activities of the issuers), there is the possibility that the loss is greater than the capital invested, and to that end, you should always monitor your positions and margin use.

  • How is the French Financial Transactions Tax –FTT charged?

    Since 1 August 2012 the purchase of Shares in French companies became subject to the payment of the "French Financial Transactions Tax – FTT.

    This tax is levied on the purchase of Shares and similar operations of companies based in France, listed on any EU regulated market, whose market capitalisation exceeds one billion Euros. The tax rate applicable is 0.2% on the amount of the transaction.

    The legislation determines that the "Financial Transactions Tax" (FTT) applies only to the daily net purchase i.e. if a Client acquires 100 Shares and on the same day sells 25, he will only have to pay tax on the 75 Shares. The sale is not subject to tax.

    We exemplify a concrete case below:

    • On 10/08/2012: Purchase of 100 Shares of a French Company @€34

    Gross Value: 100 x 34 = €3,400.00
    FTT: 3,400.00 x 0.2% = €6.80
    Net Value: €3,406.80

    • On 10/08/2012: Sale of 25 Shares of a French Company @34€

    Gross Value: 25 x 34 = €85000
    FTT: €0
    Net Value: €850.00

    • At the end of the day on 10/08/2012 the following calculation will be made:

    Client’s Net Purchase: (100-25) Shares
    FTT Charged: 100 x 34 x 0.2% = €6.80
    FTT Owed: 75 x 34 x 0.2% = €5.10
    Value to be credited in the DD: 6.80 – 5.10 = €1.70

    o Simplifying = Amount of Sale / Amount of Purchase x Tax paid

    GoBulling advantage: Zero Brokerage Commission for the French Market and more convenient Formula for charging and returning the tax

    GoBulling, a Banco Carregosa brand, is the only financial intermediary in Portugal offering a "Zero Brokerage Commission" to Clients who invest in the French Market through the online channel (GoBulling Web and GoBulling Pro).

    In addition, and because we know how complex it can be to manage multiple accounts simultaneously and negotiating various transactions daily (day trading), GoBulling decided to save you the hassle.

    Whatever the account used, GoBulling will do the calculations.

    Since the new tax applies only to daily net purchases (purchases minus the sales), GoBulling will do these calculations, daily consolidating the operations within the same account to assess the net tax actually due. This feature allows you to purchase Shares through a subaccount and sell Shares held in another subaccount, GoBulling doing the crossing of both to determine the net purchases on which the tax is levied.

    Thus, regardless of the subaccount associated with the purchase and sale of securities (GoBulling Web, GoBulling Pro, GoBulling Premium, Asset Management), GoBulling calculates the net amounts and will credit in the DD subaccount the tax deducted by sale transactions on the same day, on the same Share.

    The legislation on Financial Transactions Tax (FTT) may be consulted at here.

    The list of French shares subject to tax is available at here.

    Can’t find the answer to your questions? Contact us!

Can't find answers to your questions? Contact us!