Frequently asked questions

  • How can I update my account details?

    To change any of the registered personal details in your trading account, please contact us to explain the reason for this change and provide us with the relevant information, e.g. name change due to marriage, or change of residential address. We will then review and action your request in accordance with our regulatory requirements and obligations.

  • How do I verify my payment method?

    When depositing funds into your CFD Global account, the payment will need to originate from a payment account that is in the same name as the account holder of the CFD Global investing account. As part of our regulatory requirements and to abide by anti-money laundering laws, CFD Global is obliged to verify that you are the legitimate owner of the funds deposited into your account. In order to do so, if you deposited by:
    Bank Transfer You may be asked to upload a photo/scan of proof of payment or a recent bank statement. Debit/Credit Card You may be asked to upload a photo/scan of your card, recent credit card statement, or a document from the bank.
    Alternative Payment Methods (e.g. Skrill, etc.) You may be asked to upload a print-screen in order to confirm your account ownership.
    *Note: Some of the above-mentioned payment methods may not be available in your country of residence.

  • What is required in order to verify my CFD Global account?

    In accordance with the CFD Global customer due diligence process, clients are required to verify their accounts for security and identification purposes. This may include, for example, the verification of your name, residential address, phone number, email address, date of birth, and payment method, etc.
    *Note: According to our regulation guidelines, clients will be required to complete the verification process before they begin investing or withdrawing funds from their account. The identity verification requirements at CFD Global may include the following, but are not limited to:
    1. Proof of Identity – This needs to be a full, colour and clear copy of one of the following: Passport National ID The proof of identity copy must clearly reflect the following details: Your full name Your date of birth The expiration date of the identification document Full security strip (if applicable) Your photo
    2. Proof of Residence – This needs to be a full, colour and clear copy of one of the following: Bank or credit card statement Utility Bill, such as water, electricity, gas, or landline phone bill The proof of residence copy must clearly reflect the following details: Your full name Your address of residence (Please note: this address should match the one you provided during the registration process) Date of Issue of the document *IMPORTANT: The Proof or Residence must not be older than 6 months.
    3. Proof of Payment – This needs to be a full, colour and clear copy of the front and back of the credit card used for payment.
    a. On the front side of the card, the following information needs to reflect clearly: Full name First and last 4 digits of the card to be clearly visible and the rest to be covered-up The expiration date
    b. On the back side of the card, the following information needs to reflect clearly: The first and last 4 digits of the card must be clearly visible The security code or CVV number must be covered (the 3 digits on the back of the card) Signature of the cardholder on the specific strip The above required verification documentation needs to be submitted directly to CFD Global.
    This can be done as follows:
    The documentation can be uploaded directly on the CFD Global website from the client’s account The documentation can be sent via email to: [email protected] or [email protected]

  • Why do I need to provide my photo ID and other verification documents?

    As per our regulatory and legal obligations, as laid out by the regulatory bodies, CFD Global is required to verify the identity and residential address for each client. As a result, copies of a photo ID and residence information may be required. It is important to note that when you open an account with CFD Global, you agree to comply with all applicable regulations and laws against money laundering and terrorism financing, including, but not limited to, the requirement to provide satisfactory evidence of your identity, residential address, the source of funds, etc. Based on this, CFD Global will not establish a business relationship with any individual unless and until the client’s identity and residential address have been successfully verified and/or all necessary documents have been received and verified. As part of our standard due diligence process, the verification process has been implemented to protect both you and CFD Global from fraud as well as to safeguard your privacy. CFD Global reserves its right to impose additional due diligence requirements where necessary.

  • What is a Tax Identification Number?

    The Tax Identification Number (TIN) is a personal number which is used for tax purposes in your tax country (i.e. the country in which you report your taxes). You will, therefore, be asked to supply your TIN information. Please note that the term used for TIN may vary from one country to another, for example, Social Security Number, Identification Number, National Insurance Number, etc.

  • Does CFD Global charge any deposit fees?

    CFD Global does not charge any deposit fees. If you have made a deposit in a different currency from the one that your investing account is denominated in, you may be required to cover any commissions or other charges which were applied for the currency conversion. In addition, you shall be liable for any and all fees and taxes related to any transaction.

  • Why is my deposit not reflecting in my account?

    If you have successfully deposited funds using a Bank Card and this amount does not reflect in your investing account, please make sure to check your Verification status. That is, all required verification documentation must be approved by CFD Global, and we must receive clear copies of the front and back of the Bank Card used for depositing. Please note that you may not start trading until the verification and compliance procedures are fully met. If you make a Wire Transfer in one of our client bank accounts, please keep in mind that it may take between 5 to 7 business days for us to receive the amount and we will credit it to your trading account if or when your verification status is approved.

  • Can I make a deposit using a friend’s payment method?

    No, you may not. All deposits made to CFD Global must originate from your own sources. In addition, the payment method used must be registered in your name.

  • Can I withdraw my deposit?

    You can withdraw your deposit from your CFD Global account provided you meet our standard regulatory requirements.

    In order to open a withdrawal request, simply login to the website (www.cfdglobal.com) with your credentials, click on the ‘Withdraw Funds’ button and follow the indicated steps.

    As part of our regulatory requirements and to provide the safest investing experience possible, the funds will be released via the original payment method. Please note that in certain cases, CFD Global may require you to submit additional documents in order to ensure the successful withdrawal of your funds.

  • How long does it take to process a withdrawal request?

    Any withdrawal request is processed by our Finance Department within 24 business hours (not including the weekends).

  • What is a Contract for Difference (CFD)?

    A contract for difference (CFD) is a contract between two parties, typically described as “buyer” and “seller”, stipulating that the seller will pay the buyer the difference between the current value of an asset and its value at contract time (if the difference is negative, then the buyer pays instead to the seller).

    When investing in CFDs, the key word is ‘difference’ and this means that you are, in fact, not actually buying the physical asset, but instead, you are taking a position on the value of the underlying asset. In effect, CFDs are financial derivatives that allow traders to take advantage of prices moving up (long positions) or prices moving down (short positions) on underlying financial instruments (a futures contract) whereby differences in the settlement are made through cash payments, rather than by the delivery of physical goods or securities. That is, your profit or loss is determined by the difference between the price at which you enter a trade and the price at which you exit. For example, if you believe the price of gold is going to increase against the US dollar (USD), you will buy gold and sell the USD, for a set price. You do not ‘own’ a piece of gold but instead, you have opened a contract for a specific price with the view that when you sell it back, the price of gold would have risen and you will receive the profit as cash.

  • What does “Leverage” mean?

    Trading on leveraged capital means that you can open positions with values significantly higher than the funds you actually invest, which only serves as the Margin. Leverage can significantly increase the potential return, but equally, it can also significantly increase potential losses.

    Essentially, leverage allows you to pay less than full price for a trade, giving you the ability to enter larger positions than would be possible with your account funds alone and is expressed as a ratio. A 1:2 leverage, for example, means that you would be able to hold a position that is twice the value of your trading account.

  • What is a Margin Call?

    Should your equity fall below the maintenance margin amount, CFD Global may make a Margin Call or provide you with a certain time frame to add funds to the account or to close the position(s) yourself. In the event that you have not met the maintenance margin requirement by the end of the grace period or your account has gone into negative equity, the position(s) will be closed at the price available on our platform at the relevant time.

  • How can I avoid a Margin Call?

    Customers should monitor their balance at all times and make sure that they have sufficient funds in their trading account to maintain their open positions.

  • What are Market hours or Trading hours?

    Market Hours are the time frame in which a trading instrument is available for trading. You can view this information for each instrument individually, directly on any of our trading platforms you may use. Market Hours are displayed in GMT (Greenwich Mean Time).

  • Does CFD Global charge any transaction fees?

    Please keep in mind that CFDGlobal does not charge any commission for any of the trades.

    The difference between the BID and ASK prices is what is called the bid-asked Spread and this difference represents a profit for the broker.

  • Can my account go into a negative balance?

    We provide “negative balance protection” for your account. This means that your losses can never exceed your Equity.

  • Do you charge an overnight fee?

    When a position is left open overnight, CFD Global add or subtract a ‘swap’ fee to/ from your investing account.

    When you make a trade, you are effectively borrowing one currency to exchange for another. You must, therefore, pay interest on the currency you are borrowing, while receiving in return interest on the currency you are holding. The amount of the financing charge will vary as it is linked to current interbank interest rates (such as LIBOR). The charge will appear in your Account at the end of the trading day.

    The formulas used to calculate the swap fee for a position are:
    MT4 platform: no. of lots*lot size*tick size*MT4 swap charge*no. of days
    Cosmos platform: the quantity*closing price at ending session*swap charge (%)*no. days

  • Why can’t I close my position?

    It is only possible to close a position (trade) during the relevant instrument’s trading hours. In addition, occasionally instruments are temporarily unavailable for trading when market events restrict price feeds, for example, but not limited to: extreme volatility, illiquidity, underlying market suspensions, etc.

  • How can I assess the financial status of my trading account?

    You should get acquainted with the following definitions:
    Balance: deposits – withdrawals + P&L (profit/loss) of closed positions. It does not include the profit/loss of the current open positions.
    Equity: balance + P&L (profit/loss) of open positions. This is the current value of your account.

  • Do you add dividends?

    Dividends are the portion of corporate profits that are allocated to shareholders, and the cut-off date for share ownership in order to qualify for a dividend is known as the ex-dividend date.
    If you have a CFD position open on the ex-dividend date, an adjustment will be made to your account in respect of the dividend or distribution attributable to the related instrument in the underlying market. If you hold a buy position you will receive the dividend as a positive adjustment to your account, however, if you hold a short (sell) position there will be a negative adjustment to your account for the dividend.

  • What is a Rollover and how does it affect me?

    CFDs are linked to an underlying asset (a Future contract) that has an expiration date. Most of the instruments we offer, that are based on a futures contract, have a rollover date.

    CFDs are rolled over to the next underlying Future Price during the last weekend (before the official expiration day). This is known as the expiration rollover. If there would be any substantial price difference between the two Futures, an adjustment would be Credited or Debited from the balance of your account.

    This Adjustment would show up in your account under Rollover Charge and would not affect the real value of your Equity. If you do not want to incur the price adjustment or any implication of the underlying CFD rollover, you can close your position(s) and/or cancel Orders before the rollover date and open a new position afterward.

  • Why are rollover rates tripled on Wednesdays?

    When placing a trade in the Forex market, the actual value date is two days forward, for instance, a deal done on Thursday is for value Monday, a deal done on Friday is for value Tuesday, and so on. On Wednesday, the rollover amount is tripled to compensate for the following weekend (during which time rollover is not charged because trading is stopped at weekends).

  • How do you handle corporate actions?

    A corporate action is an event initiated by a public company that affects the shares/equities issued by the company. For example rights issue, stock split, takeover, etc.

    As you do not own the physical share/equity you neither acquire voting rights, nor any rights under a rights issue or similar event such as stock split, etc.

    However, please note that when such an event occurs, we will always take measures to minimize the impact on your position(s) by applying a relevant adjustment to your trading account. Since you do not own the physical share/equity of the company, you do not hold any voting rights, nor any rights under a rights issue or similar event, such as stock split, etc.

    Please note, however, that when such events occur, CFD Global will always take the necessary measures to minimize the impact on your position(s), by applying a relevant adjustment to your investing account.

  • What is your input on trading robots?

    On our platforms, you have the possibility to use the Trading Central and/ or automated trading systems.

    Nevertheless, we do not encourage/recommend the use of Expert Advisors (Robots), since they represent a greater risk and should not be considered a substitute for carefully executed trading.

  • I cannot log in to my account but I need to close an open position. What do I do?

    You may close/open a position or place an order by telephone 24 hours a day. Simply call up our Dealing Desk or our Customer Support Department. You will be asked for some personal details before your request is to be executed, for security purposes.

  • ?Can I have an Islamic Account?

    We offer the possibility to open Islamic (Swap-Free) Accounts with us. Swap-free trading accounts are available only to those clients who cannot use swaps owing to their religious beliefs. Accordingly, we reserve the right to require adequate justification for and/or proof of the necessity or need of any such conversion. Furthermore, we reserve the right to refuse the processing of any such request for any reason whatsoever, without being obliged to provide any explanation or justification.

    While you can file a request for an Islamic Account at any time, the filing of such request entails that all your other real trading accounts with us will be converted into Swap-Free trading accounts also, without any further notice being required.

    Conversion of a real trading account to a Swap-Free trading account is performed by our Back-Office Department only upon your consent to complete and submit such a request. We will then evaluate the request along with the required documentation submitted to us and shall inform you whether your request is accepted or not.

  • Can you trade for me?

    Although we cannot trade on your behalf, we have a wide range of tools and market reports that can help you make an informed decision.

  • Who can I ask questions and keep in touch with?

    All questions and queries can be directed to the CFD Global Support Centre which can be contacted either via email, phone or Live Chat.

  • What are the benefits of trading with a regulated company?

    One of the benefits of trading with a regulated firm is that you know you are contracting with a reliable and reputable provider in a regulated environment, which has stringent rules and regulations designed, in particular, to protect the interests of retail clients.

  • How can I be sure that the money in my investing account is safe?

    The Republic of Cyprus is a European Union member state, which means that all investment companies licensed in Cyprus fully comply with the EU MiFID (Markets in Financial Instruments Directive) regulations that apply to all 27 countries of the European Economic Zone.

    The main aim of this law is to increase competition in the investment sector and protect the interests of the investment company clients. According to the MiFID regulations, CFDGlobal is also a member of the Investor’s Compensation Fund, which ensures that the client interests are protected in the case of company insolvency.

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