I do have a margin loan with SGB but with ETRADE for buy/sell...

I do have a margin loan with SGB but with ETRADE for buy/sell transactions. The shares are in my name and they can't sell without my authorisation even if there is a margin call. My portfolio has been in a margin call status for many days this year.

But I have learnt an expensive lesson with margin loan - it can easily wipe out all your capital even with so called blue chip stocks. Since then I have develeraged my portfolio and now keep cash separately so that I can build a new portfolio with no margin loan.

Opus and Tricom are different in that you give them beneficial ownership, ie they can do whatever and even withdraw your cash. In the Opus case, you become an unsecured creditor. ANZ will dispose all the shares to recoup its loan before the clients get anything.