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Frequently Asked QuestionsTable of Contents
General Questions about Rebates ... ?1. Why do I have to go through you to receive rebates? Why cant I just sign up directly with my existing broker? We are willing and able to give rebates to our clients because we receive compensation for referring you to your FCM broker. A portion of that compensation goes directly back to the Clients of CagCo Trading Inc. 2. Does it matter which currency pairs I trade? No, not at all. You collect the same rebates regardless of currency pairs traded. 3. Which platform should I use? The choice of platform is entirely up to you. The rebates are such that you will receive $4.00 for every standard contract traded, and 40 cents per mini contract traded. 4 What exactly do I need to do to receive my rebates? Simply follow the steps to the Enhance Your Plan Rebate Program. First select a platform, Second sign up for a live account through this site (Cagco Trading Inc MUST be indicated as the referring broker), third begin trading Forex, and finally collect your rebates. 5. What if I have other questions? Call us, email us, or fax us your questions. At CagCo Trading Inc. we will give you more because we think more of you as a client than other firms. (no matter how much you trade) The founder of CagCo Trading Inc. has 30 years experience in the trading business and is able and willing to openly discuss trading strategies with all clients. NFA member since 1981 - NFA #0071233 Back to Top
CMC Markets FAQFrequently Asked Questions CostsHow is Financing Charged and Calculated? Spot positions that are rolled over will incur financing based upon the interest rate differential between the two applicable currencies. The interest rate applied is ‘TomNext’ which is an abbreviation for ‘Tomorrow’ or the ‘Next’ business day because the first value date is tomorrow or the next business day. The TomNext price reflects the applicable interest rate between Tomorrow/Next and the ‘Spot value’ date. At (17:00) 5:00pm EST (Standard FX market Value-Date change time) each day CMC Markets will settle all Spot positions by closing the trade at the current market rate and re-opening it for the following day’s Spot date at a rate that will reflect the interest rate differential. TradingDoes CMC Markets trade in "lots" At CMC Markets we do not force you to trade in lots but rather allow you to trade in any particular currency amount that suits your trading or hedging needs. Ex: $10,000 USD of USDJPY or ¥ 1,234,567,890 JPY of USDJPY or $ 123,456 USD of EURUSD. What is the minimum deal size? You may trade in any specific amount above our mimimum USD $10,000 (or equivalent). What are the margin requirements? Spot FX and FX Forwards are margined at 1% both intraday and overnight. Does CMC Markets give trading advice? CMC Markets provides an execution only service. We are able to provide factual information upon request but are not authorised to give direct or indirect trading advice. How do I calculate P&L with CMC Markets Trading? Calculating P&L in Forex Trading. Opening an AccountWho do I deal with at CMC Markets? CMC Markets has a number of dealers trading on the internet and the telephone. When you open your account you will be provided with a log on for the trading software and the telephone number for the relevant desk. Does CMC Markets offer credit accounts? No. CMC Markets only opens deposit accounts. How can I apply for an account? There are three ways to apply for an account: 1. Complete an online application on our website. 2. Request an application form on our website. 3. Telephone the sales department at (866) 367-3987 to request an application and ask any questions to a member of the sales desk. What is the minimum deposit to open an account? A minimum deposit of $2000 is required to open a CMC Markets account. Order TypesWhat is an "If-Done" order? An ‘If-Done’ order, also known as a ‘Contingent order’, is linked to an existing pending order. To place an ‘If-Done’ order you would first place a Limit or Stop order, usually to open a position. The ‘If-Done’ order will lie dormant until your initial Stop or Limit order has been filled. At this point it will come into existence and show as ‘pending’, awaiting execution in your order blotter. What is an "OCO" order? An ‘OCO’ order is an order where ‘One (order) Cancels the Other (order)’ and commonly consists of a Stop-Loss and Limit order placed on either side of the current prevailing market price. An ‘OCO’ order is generally used to close an open or existing position. For example: An ‘OCO’ would be used with an existing long position where a ‘Stop-Loss order’ would be placed below the market to limit the loss on a trade, and a ‘Limit order’ would be placed above the market to take profit. When one order is executed, the other is automatically cancelled, hence ‘one cancels the other’ (OCO). Risk Warning Foreign Currency trading carries a high degree of risk and may result in serious financial loss. Foreign Currency trading is not suitable for everyone. CMC Markets is remunerated for its services from the spread between the bid and ask prices. In situations where third parties introduce customers to CMC Markets commissions may be charged or compensation provided through the bid and ask spread. This publication is intended to be used for information purposes only and does not constitute investment advice. CMC Markets (US) LLC is registered as a Futures Commission Merchant with the Commodity Futures Trading Commission and is a member of the National Futures Association. The pricing on EUR/USD, USD/JPY and USD/CHF is available to US clients with a valid US residential address only. Spreads on all other currency pairs remain the same. Back to Top
CMS Forex FAQ
1. What’s the difference between a demo and a live trading account?
2. Why do I
get the following error message when I submit my Demo registration form?
3. What are your commissions and fees?
4. How does CMS determine its prices?
5. What is the maximum lot size per order at CMS?
6. Will my funds on deposit be safe?
7. Is CMS FDIC insured?
8. How much money do I need to open an account?
9. How do I open a Live account?
For all other account types, fill out a paper application. Download the appropriate forms here depending on what type of account you want. You may be asked to submit additional documentation for the purpose of verifying your identity as part of our anti-money laundering efforts.
10. How do I know if my account has been opened?
11. I am a resident of Sanctioned Country. Why can’t I open an account with CMS?
12. How do I fund my account?
13. When will my funds be posted to my account?
14. How do I withdraw money from my account?
15. What happens to my open positions at the end of the trading day?
CMS clients can earn interest on rollovers, depending on the direction of their positions and interest rate differential between the two currencies involved. For instance, the primary interest rates in Great Britain are much higher than in Japan, so if you buy GBP, you will earn interest at 5 PM EST time. On the other hand, if you sell GBP in this currency pair, you will pay interest at 5 PM EST time.
16. What are your trading hours?
17. Can I place orders over the phone?
18. Can I place a trade via email?
19. How do I change my money manager? May I revoke an old power of attorney?
20. Can CMS tell me when to buy or sell a currency?
21. What is hedging? How do I place a hedge order?
22. Do I need a broadband Internet connection to trade with CMS?
23. Can I trade with CMS if I am not using my home computer?
24. Can I use VT on my Apple Macintosh computer?
25. What are the minimum system requirements for running VT?
Minimum
System Requirements:
Recommended System requirements: Disclaimer: Cagco Trading Inc. is compensated with part of the pip spread. There is as much risk associated with forex trading as there are rewards. The more leverage used, the more risk and rewards get enhanced. CagCo Trading Inc Is not in any way responsible for trading platform malfunction or internet connection failures, delays or distortions. Trade currency pairs ( Forex ) at your own risk of lose. Back to Top
FINI FX FAQWho We AreFINI FX, a privately held company headquartered in Irvine, California, is a registered Futures Commission Merchant (“FCM”). We currently specialize solely in the FX spot market and act as counterparties to retail forex spot transactions. FINI FX owns and operates its proprietary currency-trading platform ‘FINI FX Pro’ and provides educational programs in the foreign currency market. Our NFA ID is 0346751. Our FoundationFINI FX foundation is laid on over 4 years of R&D work resulting in one of the most easy to use internet-based platforms designed for currency exchange operations in the FX spot market. This software took over 800,000 lines of exclusive code and the work of many programmers to develop. Mission StatementBy providing our trading clients with the most customer-focused, reliable and secure foreign currency trading platform, FINI FX demonstrates our commitment to create long-term value for all stakeholders through superior financial performance. Also, by fostering a corporate culture based upon the highest levels of teamwork, integrity and efficiency, our entire staff exemplifies our dedication to the development of a customer supportive service environment. Corporate GovernanceOur Board of Directors (the “Board”) is responsible for directing and providing oversight of the management of our businesses in the best interests of all the stakeholders and consistent with good corporate citizenship practices. In carrying out its responsibilities, the Board selects and monitors the activities of senior management, provides oversight for financial reporting and legal compliance, determines our governance principles, and implements our governance policies. The Board works closely with management in establishing our operating values and code of conduct and in setting strategic direction and priorities. Disclaimer: Cagco Trading Inc. is compensated with part of the pip spread. There is as much risk associated with forex trading as there are rewards. The more leverage used, the more risk and rewards get enhanced. CagCo Trading Inc Is not in any way responsible for trading platform malfunction or internet connection failures, delays or distortions. Trade currency pairs ( Forex ) at your own risk of lose. Back to Top
FXCM FAQMini Trading AccountAnswers to Frequently Asked QuestionsHow can FXCM offer smaller trading sizes? Smaller trade sizes pose several challenges to foreign exchange firms. There are two primary issues that have prevented firms from offering smaller trade sizes: high labor costs and risk management. To offer smaller trade sizes, most firms would have to hire more dealers, which would make the cost exorbitant. The FXCM Mini account features automatic execution for most accounts. All trades are executed without human intervention (just like a demo account). This keeps labor costs low. The second issue is risk management. The smaller size trades offered on the FXCM Mini account are difficult to offset in the broader market. FXCM has developed a proprietary risk protocol for the FXCM Mini, which involves aggregating volume into sizes that can be offset in the broader market. What is the difference between the FXCM Mini account and a regular account? The FXCM Mini account is designed to introduce traders to the excitement of trading currencies online and for those with limited investment capital. With a Mini account, you trade using the same platform as our regular traders. With as little as $300, a trader can open a FXCM Mini account and begin trading foreign exchange with FXCM. On the Mini trading platform all trades are executed in standard sizes of 10,000 base currency per one lot, 1/10th the size of a regular account. The smaller trade sizes enable traders to take smaller size risks. How does the Margin Call work? If the equity balance in your account falls below the margin requirement of 1/2% per lot, a margin call will be generated. In the event that an account exceeds its maximum allowable leverage, ALL open positions will be liquidated immediately, regardless of the size or the nature of positions held within the account. For example, a FXCM Mini account with 8 lots in open positions would need to have 1/2% of the total position value in account equity. If the account equity falls below 1/2% of the position value due to floating trading losses, the entire 8 lots would be liquidated at market price. Clients are not notified prior to the liquidation of their positions. Do you Charge a Commission on the Mini account? No. FXCM charges no commission or transaction fees to trade an FXCM Mini account. As the leading player in online currency trading, FXCM receives and is able to pass on the benefits of size to our clients. FXCM is compensated for its services through the bid-ask spread.* How Do I Switch from a Regular Account to a Mini account?
In order to change from a regular account to a Mini account, or a
Mini account to a Regular Account, you can request a change of account type
through MYFXCM. Back to Top
Gain Capital FAQ
What are your commissions and fees?
What are your trading hours?
What's the difference between the demo and the live trading
platform?
How do I open an account with GAIN? The fastest account opening method available. Complete and submit your application online. Select your account type to receive a complete application in PDF format, along with easy to follow instructions. Adobe Acrobat Reader is required to view PDFs. Or call us at 1.866.GAINSALES (424.6725) There are three convenient ways to fund your GAIN Capital account:
How do I clear the cache for Internet Explorer? 1. Exit out of the browser by closing all open Internet Explorer windows. 2. Click on "Start", then click on "Settings" (Windows 98/2000), then "Control Panel." 3. Click "Internet Options." 4. In the general tab section, click on "Delete Files" then "OK." 5. Then click "OK" to close the settings box. How do I change my screen resolution to 1024x768? To change the resolution setting, Click the "Start" button (on your desktop), choose "Settings", select "Control Panel", double click "Display", and select the "Settings" tab. Depending on which Windows operating system you have, an area of the screen before you will be labeled as the "Screen Area" (Windows 98, 2000, or XP), "Desktop Area" (Windows 95 or NT), or "Display Area". Within that area of the screen, move the slider bar to read "1024 by 768 pixels".
If you cannot set your resolution to at least 1024 x 768, although you will be able to access the functionality of the GAIN trading system, the screen shown within your browser will not look the same as the screen shown on the first page of the User Guide. Furthermore, the lower your resolution is set, the more difficulty you will experience in using various parts of the GAIN trading system screen. What operating systems are supported by the FOREXTrader platform?
Windows: 95OSR2, 98, ME, NT, 2000, and XP are all supported. What are the system requirements for accessing FOREXTrader
Windows: How do I clear my JAR cache? 1. Click on the Start Button 2. Click on Settings (Windows 98/2000 Only) 3. Click on Control Panel 4. Click on the Java Plugin Icon 5. Click on the "Cache" tab, then click on "Clear Cache." 6. Hit "OK", then close out the window and the control panel. I can't login/see rates in the FOREXTrader platform? If you see no rates at the top of the trading platform, or receive an error message like "Connection Not Available", you have a firewall that restricts traffic over certain ports. Firewalls may cause connectivity issues, affect access to the live rates, and charting on the platform. If a firewall is installed, you will need to modify it to allow traffic on the following ports with a TCP protocol:
Click on your firewall for instructions:
NOTE:
Adobe Acrobat required to view instructions. What are the system requirements for accessing FOREXTrader.web? You should be using Internet Explorer v5.x or higher
Your PC Setup should be:
Internet Connection: I don't see anything when I click on the FOREXTrader.web login button?
If you see no rates at the top of the trading platform, please
try the following steps.
2) Install the
Microsoft VM
Click on your firewall for instructions:
NOTE:
Adobe Acrobat required to view instructions. How do I access FOREXTrader.wireless? Fast track URL=http://wap.gaincapital.com
Please note that you must have an existing service contract with
a cellular phone company and an Internet-enabled mobile device to access
FOREXTrader.wireless.
Trading foreign currencies is a challenging and potentially
profitable opportunity for educated and experienced investors. However, before
deciding to participate in the Forex market, you should carefully consider your
investment objectives, level of experience and risk appetite. Most importantly,
do not invest money you cannot afford to lose. Back to Top
IFX Markets FAQI tried to login with the ID & password you sent to my
e-mail address but I get the error message "Access Denied" or “Wrong Login Name
or Password.” What is the problem? To access the platform, double-click the
“ICTS-WinTrader” icon on your desktop. The system will ask you for the user
ID and password that was sent to your email address. Make sure you select the
account type “Real” in the login box. Please note that if your account is
managed by another party, please see “Reporting Login” below.
1. Log into the
Java or Windows “ICTS Wintrader”.
3. Pop up message appears as seen in “Figure 1.2”. 4. Type your existing password in the “Current password” text field. 5. Type your new password in the “New password” and “Confirm password” text fields. 6. Click “Apply” once you have finished.
Disclaimer: Cagco Trading Inc. is compensated with part of the pip spread. There is as much risk associated with forex trading as there are rewards. The more leverage used, the more risk and rewards get enhanced. CagCo Trading Inc Is not in any way responsible for trading platform malfunction or internet connection failures, delays or distortions. Trade currency pairs ( Forex ) at your own risk of lose. Back to Top
IKON Global Markets FAQFrequently Asked Questions
1. What’s the difference between a demo and a live trading account?
5. How does IKON GM determine its prices?
10. When will my funds be posted to my account?
15. Can I trade with IKON GM if I am not using my home computer?
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