Joining Maxlay and Opening a Maxlay Managed Account

Clients wishing to open a Maxlay Managed Account should decide whether they wish to open a Growth or Income Managed Account.

A Maxlay Growth Account works on the basis that clients funds are retained and accumulate based upon monthly performance. At the end of each month, clients receive a statement setting out their balance. At the beginning of the following month the account balance is divided by 20 and the amount per trade recalculated. Clients can access their funds at any time.

A Maxlay Income Account is ideal for clients looking to receive a second income. Positive balances are paid out monthly by cheque to clients with their monthly statement.

The MaxLay Managed Account

For those clients who have neither the time nor inclination to trade themselves, we are pleased to offer this facility.

How it Works

Step 1
Choose the level of your initial trading bank. The options are shown on the MaxLay Managed Account application form.

Step 2
Complete the MaxLay Managed Account application form and return it together with your cheques in respect of your initial trading bank/subscription.

Step 3
We send you a confirmation letter accepting and confirming your instructions, plus a receipt in respect of your payments.

Step 4
Acting in accordance with our daily instructions, our agents are responsible for the placing of all MaxLay trades on behalf of MaxLay Managed Account holders. All trades will be advised by email to Maxlay Managed Account holders prior to the event taking place.

Step 5
Winnings/losses are calculated daily and you will receive a monthly statement detailing all transactions on your account. In order to help offset the additional MaxLay Managed Account administration costs we charge a 5% commission on the profit element of winning trades. This is in line with the 5% Betting Exchange commission deducted from the winnings of those trading for themselves.

If you have chosen the income option a cheque for any end-month net balance in excess of your initial trading bank will be sent with your statement.

Settlement of Trades
For the avoidance of doubt, all MaxLay Managed Account trades are settled on the basis of the traded prices.
Security of Your Funds

Your funds are held in the segregated Centaur Group Client Account at Barclays Bank, Alnwick, Northumberland, NE68 3AL. Monies held in this account remain at all times the property of our clients and, save in accordance with your written instructions, will neither be used in any other way by Centaur, nor form any part of the assets of the Company.

N.B Following the banking crisis in 2009, funds belonging clients who operate banks of greater than £50,000  are held in a client account operated by the Bank of Ireland as the Irish Government has provided undertakings as to the security of all funds held in Irish bank accounts.

Financial Services Authority (FSA)
Maxlay Funds are not subject to regulation by the FSA as these products fall outside the scope of the Financial Services and Markets Act.

Arising from a continuous dialogue with the FSA, we amended our processes in early 2006 to provide an enhanced level of control over funds for individual clients and to ensure that Centaur/Maxlay products could not be construed as collective investments

Anti-Money Laundering Legislation

It is the policy of Centaur Global Ltd to ensure that the Company, its management and its employees are committed to complying with all legislation and appropriate guidelines designed to combat money laundering.

To this end we are required to carry out a number of checks on prospective (and current) clients prior to the receipt of funds. We will require the following information from you and you should have this to hand when enquiring about opening an account:

1. Title
2. First and middle (if applicable) name
3. Gender
4. Date of Birth
5. Current address and postcode
6. Previous address and postcode if you have lived in the current address for less than 3 years
7. Driving Licence information
8. Passport details
9. Electricity supply information

Please do not send any funds to us until we have carried out the required checks and have confirmed that it is in order for the transfer to take place.