About Your Forex Trading Account
Currencies accepted
You may fund your CitiFX Pro trading account in USD, EUR, GBP, SGD, JPY and HKD. Minimum account opening balance: USD 10,000 or USD50,000 or equivalent in GBP, SGD, 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.
Transferring margin 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.
What can you expect from a global leader in FX with over 100 years of forex experience? For starters, award-winning market analysis and research.
Trading foreign exchange involves a high degree of risk. CitiFX Pro offers trading on margin. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should ensure that you understand the risks and can withstand the losses and that you seek advice from your advisors as appropriate. Please review the Full Risk Disclosure for customers in Asia and Privacy Disclosure carefully before opening an account. The views in this communication should not be considered as investment advice. Any trading or investment decision you take should be based upon your own independent judgment and/or advice from your advisors, as you deemed necessary. CitiFX Pro is a service offered to you solely by Citibank N.A., New York, 390 Greenwich Street, New York, NY 10013 and not by any other branch, subsidiary, or affiliate of Citibank NA (including Citibank (Hong Kong) Limited and Citibank N.A. Hong Kong Branch). Citibank N.A. is an entity organized under the laws of the United States of America. You should note that margin funds transferred to an account of Citibank NA in Hong Kong in respect of CitiFX Pro is not currently protected by the Deposit Protection Scheme in Hong Kong. Margin funds transferred to an account of Citibank NA in Singapore in respect of CitiFX Pro, will not benefit from protection under the Deposit Insurance Act, Chapter 77A of Singapore. In Singapore, CitiFX Pro is provided by Citibank N.A., New York branch under an arrangement with Citigroup Global Markets Singapore Pte Ltd ("CGMSPL"). CitiFX Pro is directed only at persons in Singapore who qualify as an "accredited investor" or "expert investor" or "institutional investor", each as defined in the Securities and Futures Act, Chapter 289 of Singapore (“SFA”) save that the definition of "expert investor" in the SFA is, for the purposes of CitiFx Pro, subject to the modifications in the next paragraph. For the purposes of CitiFX Pro, an individual will qualify as an "expert investor" only if the individual has experience in trading in financial markets, as part of the individual’s business or employment and shall not include individuals whose experience consists solely of trading in financial markets in a proprietary or personal capacity. For the purposes of CitiFX Pro, a non-individual will qualify as an "expert investor" only if it is (i) a company or association or body of persons, corporate or unincorporated, whose business involves the acquisition and disposal or the holding, of "capital markets products" (as defined in the SFA), whether as principal or agent; and (ii) wholly-owned by persons who themselves qualify as an "accredited investor" or "expert investor" or "institutional investor" (each as defined in the paragraph above) in their own right. If you are not an "accredited investor", "institutional investor", or "expert investor", you will not be permitted to open a CitiFX Pro account. For more information on CitiFX Pro and/or information regarding how to demonstrate your qualification as an "accredited investor" or "expert investor" or "institutional investor", please refer to the application form or contact us directly at +65 3158 0363, or at sales@citifxpro.com. Copyright ©2011 Citigroup Inc.