Currencies accepted
You may fund your CitiFX Pro trading account in USD, EUR, GBP and JPY. 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. 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.