What is FOREX?
The Forex (Foreign Exchange) market is a form of an exchange for the global international trading of currencies. Financial centers (USA, Europe, Asia and Australia) all over the world act as anchors of trading between buyers and sellers around the clock, with the exception of weekends.
What is a Demo Account?
A trading account that allows an investor to review and test the features of a trading platform before funding the account or placing trades. A demo account is typically "funded" with simulated money, which allows the investor to conduct fictitious trades in order to become familiar with the ins and outs of the platform.
Demo accounts can allow a trader to experiment with a wide array of financial products, such as options, Contract of Difference (“CFDs”), Forex, high leverage products and other derivatives. In addition to allowing an investor to become familiar with the available tools, it provides a way to test different trading strategies, such as carry trades in Forex.
Does my demo account expire?
A demo account expires after one month of trial. The user must create another demo account and carry on with his practices.
Do you offer training sessions? Does it cost?
With its professional sales agents dedicated to serve its wide clientele, CFI Markets Ltd provides FREE training sessions to those who desire to learn more about trading and be involved in financial markets.
What is MT4?
Meta Trader 4 is an electronic trading platform widely used by online retail foreign exchange speculative traders.
What is the leverage?
Leverage is a feature offered by the broker to help the traders to trade larger amounts of securities by having a smaller account balance.
What is Balance?
When you have no open position, balance is the amount of the money you have in your account.
What is Equity?
Equity is your account balance plus the floating profit/loss of your open positions:
Equity = Balance + Floating Profit/Loss
When you have no open position, and so no floating profit/loss, then your account equity and balance are the same.
What is Free Margin?
Free margin is the difference of your account equity and the open positions’ margin:
Free Margin = Equity - Margin
When you have no position, no money from your account is used as the margin. Therefore, all the money you have in your account is free. As long as you have no position, your account equity and free margin are the same as your account balance.
What is Margin Level?
Margin level is the ratio of equity to margin: Margin Level = (Equity / Margin) x 100
Margin level is very important. It is used to determine whether the trader can take any new positions or not.
What is Margin Call?
Different brokers have different limits for the margin level, but this limit is usually 100% with most of the traders. This limit is called Margin Call Level. 100% margin call level means if your account margin level reaches 100%, you can still close your open positions, but you cannot take any new positions. Indeed, 100% margin call level happens when your account equity equals the margin. It happens when you have losing position/positions and the market keeps on going against you; when your account equity equals the margin you will not be able to take any new positions anymore.
What is Stop-Out Level?
When the market keeps on going against you, the broker will have to close your losing positions. Different brokers have different limits for this too. This limit is called Stop-Out Level. For instance, when the stop-out level is set to 20% by a broker, the platform starts closing your losing positions automatically if your margin level reaches 20% (it starts closing from the biggest losing position)
FAQS RELATED TO CFI Markets Ltd
What are the services that CFI Markets Ltd offers?
CFI Markets Ltd offers wide range of brokerage services:
- CFDs & Metals
- Asset Management
- Business Finder
- Investment Advisory
- White Label programs
What is the minimum to open an account?
The minimum amount to open a real account is US$100.
What is the leverage in CFI Markets Ltd?
The leverage on CFI Markets Ltd Trader is 1:100 or 1:200.
OPEN A REAL ACCOUNT
How to open a real account?
To open a real account with CFI Markets Ltd, you must fill the Online Application Form. As a regulated Financial Institution by CySEC (Cyprus Securities and Exchange Commission), CFI Markets Ltd is required by law to obtain and verify different kind of information about its clients before opening the account. Therefore, clients might be required to submit additional forms in accordance to account type and different countries regulatory systems.
Application forms include general and specific documents that must be filled and signed by the client.
What are the application forms and/or documents required to open a real account?
- Online KYC: is a form in which includes necessary info of the client
- Valid Proof of Identification: colored passport or ID (ID is only accepted for Cypriot Residents)
- Proof of Residence: Bank Statement, Government Letter, Gas Bill, Phone Bill, Water Bill (valid less than 3 months)
- Explicit Letter
- Risk Acknowledgment (if needed)
- FATCA Forms (if needed)
What is FATCA?
- FATCA (Foreign Account Tax Compliance Act) intends to prevent the avoidance of US tax by US persons who hide money outside the US. The main aim of FATCA is to strengthen information, reports and compliances through providing rules around the processes of documenting, reporting and withholding on a payee.
- In compliance with this act and in addition to the general application forms, all clients must sign FATCA documents while stating that they are/are not US citizens.
FATCA required documents:
- Waiver: a document that enables the client to accept the terms and conditions of the aforementioned regulation with respect to our financial institution “CFI”.
- W8 Form: a document that must be signed to show and approve that you are not a US Citizen.
- W9 Form: a document that must be signed to show and approve that you are a US Citizen.
FUNDING / WITHDRAWAL PROCEDURES
What are the funding and/or withdrawal procedures?
CFI Markets Ltd offers different methods for depositing and/or withdrawing funds quickly and easily. Clients are always free to withdraw their funds at any time.
- Wire Transfer: A wire transfer is one of the fastest and highly secure ways to transfer money from your account to that of CFI Markets Ltd.
- Credit Cards: (Visa, Visa Electron, MasterCard, Maestro) Once your account is opened you can be using your credits cards to deposit and/or withdraw money.
- E payment Methods: You can be using Neteller, Skrill, Paypal Verified and Payment Asia during the funding and/or withdrawal procedures.
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Do I have to open an account at the bank to fund my account?
No, you do not need to have a personal account at the bank in order to deposit money.
Can a third party fund or withdraw money from my live account at CFIM?
CFI Markets Limited “CFI Markets” does not allow third party deposits and withdrawals, i.e. all clients’ deposits should originate from each CFI Markets account holder’s own bank account and all withdrawals shall be ordered to the bank account of the same CFI Markets account holder.
Where the account opened at CFI Markets is a joint account and since all joint accounts are opened as “or” joint accounts whereby any account holder can give instructions on behalf of the joint account, any account holder of the joint account can transfer funds from his/her own bank account or order a withdrawal to his/her own bank account. Transfers can also originate/be made from/to joint account holders bank account.
Risk Warning: Your Capital is at Risk