About Your Forex Trading Account

Currencies accepted

You may fund your CitiFX Pro trading account in USD, EUR, GBP, JPY and HKD. Minimum account opening balance: USD 10,000 or equivalent in GBP, EUR, JPY or HKD. All profits and losses (both realized and unrealized), as well as cash movements (including interest postings) will be converted (if necessary) into the currency of your trading account.

Depositing Funds

If your account is approved, a CitiFX Pro representative will contact you via the email address provided in your account application with the Standard Settlement Instructions for depositing your cash margin collateral with Citi.

CitiFX Pro accounts can be funded via bank wire only. Depending on your bank, wires will generally arrive in 3-5 business days. Once your funds have been received, your CitiFX Pro account will be updated appropriately to reflect the deposit.

Please note that we can only accept funds from a bank account held in the same name as your CitiFX Pro account and that your bank may charge you a fee for the transmission of the funds.

Withdrawing Funds

You may withdraw funds from your trading account at any time without fees or service charges. Please follow these instructions in the withdrawing funds form or contact your CitiFX Pro representative.

Please note that we can only deposit funds into a bank account held in the same name as your CitiFX Pro account.

Interest

CitiFX Pro will pay/charge interest on any net free equity in your margin account in currencies other than the US dollar (no interest is payable/chargeable in your US dollar account). This is calculated on a daily basis and then paid/charged to your margin account on the first or second business day of each month.

Net free equity is defined as the cash balance held on a trading account minus the value of CitiFX Pro's margin requirements for any open trade positions, plus or minus the value of any unrealized profits or losses from open trade exposures.

Market Hours

CitiFX Pro is available for trading from Monday morning Sydney open to Friday afternoon New York close time. Please note that the best liquidity conditions are not at the extremes of this range.

Currency conversions

Currency conversions of trading profits and losses are done using the prevailing close rate as of 1700h EST (New York close), plus/minus 0.5%.

All other currency conversions (including conversions of funds transferred to and from your account) will be done using the current spot rate plus/minus 0.5% when the amount is credited or debited from your account.