FAQ
Account types
What type of accounts are available?
We have two types of accounts available, which are the demo trading account and the live trading account.
A demo trading account allows you to trade with our platform using virtual funds. This allows you to get familiar with the MT4 trading platform and the spreads available across all our trading instruments.
A live account is an account where you are trading with real money.
Our live accounts are broken up into a standard account and a VIP account.
What is the difference between the standard account and the VIP account?
The standard account has a minimum deposit of $US500, and you can trade as little as one micro or $1,000. Spreads are from 1.5 pips.
The VIP account has a minimum deposit of $US2,500, and the smallest lot size is one mini contract. The main advantage of the VIP account is the spreads are from just 0.5 pips.
We have two types of accounts available, which are the demo trading account and the live trading account.
A demo trading account allows you to trade with our platform using virtual funds. This allows you to get familiar with the MT4 trading platform and the spreads available across all our trading instruments.
A live account is an account where you are trading with real money.
Our live accounts are broken up into a standard account and a VIP account.
What is the difference between the standard account and the VIP account?
The standard account has a minimum deposit of $US500, and you can trade as little as one micro or $1,000. Spreads are from 1.5 pips.
The VIP account has a minimum deposit of $US2,500, and the smallest lot size is one mini contract. The main advantage of the VIP account is the spreads are from just 0.5 pips.
Account opening
How do I open a live trading account?
Please click here to be directed to our ‘Open A Live Account’ page and follow the simple steps.
Before I submit the account application documents, what must I do?
You should check that:
What happens after my account application and supporting documents have been submitted?
After we receive your account application and documents, we will immediately process your application, and you will receive an email regarding the status of your application.
If you do not receive an email within five business days after submitting your application, please contact us at info@globalcfd.com .
Once your account has been approved, you will receive a GlobalCFD account number. This number must be used when funding your account.
After you have deposited funds into your account, a username and password will be sent to you via email. You will then be able to download and access your live MT4 trading platform and begin trading.
Where can I get help with the Account Application Form?
If you have any questions about opening an account or the application, please email us at info@globalcfd.com or, for immediate assistance, call +230 405 8830.
You will also notice a live chat window down the bottom right of your screen. Feel free to use the live chat as well.
How do I update my personal information?
To change any of your personal information, please send an email, including your account number, to info@globalcfd.com.
For security purposes, we will send a “Personal Particulars Form” to the email address we have on file.
If you wish to change your address, you will need to provide us with a certified copy of a proof of address document for your new address.
Please click here to be directed to our ‘Open A Live Account’ page and follow the simple steps.
Before I submit the account application documents, what must I do?
You should check that:
- All your details are accurate
- You have read and understand the Terms of Business, Execution Policy and Risk Disclosure
- Properly certified copies of your photo identification and proof of address documents are included (proof of address must be issues within last 3 months)
What happens after my account application and supporting documents have been submitted?
After we receive your account application and documents, we will immediately process your application, and you will receive an email regarding the status of your application.
If you do not receive an email within five business days after submitting your application, please contact us at info@globalcfd.com .
Once your account has been approved, you will receive a GlobalCFD account number. This number must be used when funding your account.
After you have deposited funds into your account, a username and password will be sent to you via email. You will then be able to download and access your live MT4 trading platform and begin trading.
Where can I get help with the Account Application Form?
If you have any questions about opening an account or the application, please email us at info@globalcfd.com or, for immediate assistance, call +230 405 8830.
You will also notice a live chat window down the bottom right of your screen. Feel free to use the live chat as well.
How do I update my personal information?
To change any of your personal information, please send an email, including your account number, to info@globalcfd.com.
For security purposes, we will send a “Personal Particulars Form” to the email address we have on file.
If you wish to change your address, you will need to provide us with a certified copy of a proof of address document for your new address.
Funding and withdraw
How do I fund my account?
To fund your account, click here to view our bank details. The full instructions are listed on this document. Please note, you must have a registered account before funds can be transferred.
What base currency can I fund my account in?
To fund your account, click here to view our bank details. The full instructions are listed on this document. Please note, you must have a registered account before funds can be transferred.
What base currency can I fund my account in?
- U.S. Dollars
- Euro dollars
- British Pounds (Sterling)
- Japanese Yen
- Singapore Dollars
- Australian Dollars
- Hong Kong Dollars
Margin
What are the margin requirements on each trading instrument?
Margins across most of our markets start at 0.5%, which gives you access to 200 to 1 leverage. Certain trading instruments require more margin up front. Bitcoin CFDs, for example, require 5% margin up front to control the full position.
How do I find out what the margin is for each trading instrument?
Within MT4, right click on the trading instrument from within the Market Watch window and select ‘Specification’ and you will see the margin required for each one.
How do you calculate CFD margins?
The margin requirement for a position is calculated by multiplying the relevant CFD position size by the applicable margin rate:
Margin requirement = (position size) x (margin rate)
For example: If the margin rate for the S&P500 index is 0.5% and you buy 10 contracts at 2,300, then the margin requirement would be $US115.
You would require $US115 in margin to control $US23,000 worth of the S&P500 index.
What is a margin call alert?
A margin call alert occurs when there are insufficient funds in your account to cover your open positions’ margin requirements. This happens if your account valuation falls below the margin requirement. Global CFD do not send margin call notices to customers. Customers should closely monitor their open positions at all times.
What should I do if I am on a margin call alert?
If you are on a margin call alert, you must immediately deposit additional funds into your account or close out some or all of your open positions to reduce the amount of margin required to the level of your available funds.
What happens if I don’t deposit additional funds into my account or don’t close out some or all of my open positions when I am on margin call alert?
If you do not deposit additional funds into your account or don’t close out some or all of your open positions, one or more of your positions will automatically be closed in order to reduce the margin level to the required level for the remaining open positions.
Is there physical settlement for CFDs or Forex trades?
No. CFDs and Forex are settled on your trading account, we do not deliver physical products.
What is liquidation?
Liquidation is the forced closure of any of your open positions. Liquidation occurs when your account balance falls significantly below the required margin level to maintain your open positions. Please note that Global CFD does not send warning messages to customers before liquidation.
Are dividends paid on CFDs?
Yes. You will be debited or credited the value of the dividend on the day the stock goes ex-dividend. If you are long a position, then you will receive a dividend credit. If you are short a CFD, you will receive a dividend debit.
Please note that when trading index CFDs you will receive a debit or credit relative to your position and relative to the number of stocks within the index which go ex-div.
Margins across most of our markets start at 0.5%, which gives you access to 200 to 1 leverage. Certain trading instruments require more margin up front. Bitcoin CFDs, for example, require 5% margin up front to control the full position.
How do I find out what the margin is for each trading instrument?
Within MT4, right click on the trading instrument from within the Market Watch window and select ‘Specification’ and you will see the margin required for each one.
How do you calculate CFD margins?
The margin requirement for a position is calculated by multiplying the relevant CFD position size by the applicable margin rate:
Margin requirement = (position size) x (margin rate)
For example: If the margin rate for the S&P500 index is 0.5% and you buy 10 contracts at 2,300, then the margin requirement would be $US115.
- 10 X USD2300 = $US23,000
- $USD23,000 x 0.5% = $US115
You would require $US115 in margin to control $US23,000 worth of the S&P500 index.
What is a margin call alert?
A margin call alert occurs when there are insufficient funds in your account to cover your open positions’ margin requirements. This happens if your account valuation falls below the margin requirement. Global CFD do not send margin call notices to customers. Customers should closely monitor their open positions at all times.
What should I do if I am on a margin call alert?
If you are on a margin call alert, you must immediately deposit additional funds into your account or close out some or all of your open positions to reduce the amount of margin required to the level of your available funds.
What happens if I don’t deposit additional funds into my account or don’t close out some or all of my open positions when I am on margin call alert?
If you do not deposit additional funds into your account or don’t close out some or all of your open positions, one or more of your positions will automatically be closed in order to reduce the margin level to the required level for the remaining open positions.
Is there physical settlement for CFDs or Forex trades?
No. CFDs and Forex are settled on your trading account, we do not deliver physical products.
What is liquidation?
Liquidation is the forced closure of any of your open positions. Liquidation occurs when your account balance falls significantly below the required margin level to maintain your open positions. Please note that Global CFD does not send warning messages to customers before liquidation.
Are dividends paid on CFDs?
Yes. You will be debited or credited the value of the dividend on the day the stock goes ex-dividend. If you are long a position, then you will receive a dividend credit. If you are short a CFD, you will receive a dividend debit.
Please note that when trading index CFDs you will receive a debit or credit relative to your position and relative to the number of stocks within the index which go ex-div.
Trading FAQs
What is a stop loss order?
A stop loss order can be used to protect profits and limit losses. When buying a stock (or another instrument), a stop loss order is placed below the current market price to automatically sell if the price falls to the order price. Conversely, when selling a stock (or another instrument), a stop loss order is placed above the current market price to automatically buy back if the price increases to the order price.
What is a limit order?
A limit order is an order to buy or sell at a specific price or better. When you are buying to open a position, you would place a buy limit order below the current market price. Conversely, when you were looking to sell to open a position, you would place the sell limit order above the current market price. Limit orders can also be used to close out a position. You would use a limit order when you have a profit target to exit a position. If you bought to open a position and you want to sell out of the position at a price that is above the current market price, you would place a sell limit order at a price above the current market. If you sold to open a position and you want to buy back the position at a price that is below the current market price, you would place a buy limit order at a price below the current market. Always have a stop loss in place to protect yourself.
What is a one cancels other (OCO) order?
An OCO order is a combination of a stop loss order and a limit order. It enables you to set a profit target as well as lock in profit (or cut your losses) if the market moves against you. The order will be automatically executed once the market price hits either of your orders. Once one of the orders has been executed, the other order is cancelled.
At what prices are orders executed?
A sell stop loss order is executed at either the stop loss price or lower and a buy stop loss order is executed at either the stop loss price or higher. Limit profit orders are executed at the limit order price.
Can my orders be partially filled (executed)?
No. Your order is either filled entirely or rejected.
Can I amend or cancel an order if it has not been executed?
Yes. You can amend or cancel an order at any time if it has not been executed. If the market price is close to your order price, you have to act quickly before the market reaches your order price.
Can I amend or cancel an order if it has been executed?
No. You cannot amend or cancel an order if it is already executed.
What is the meaning of good till cancelled (GTC) and good till end of the day (Day Order)?
Good till cancelled (GTC) is an order that is active as long as the market price does not reach the order price; the order will remain active until you decide to cancel it.
Good till end of day (Day Order) is an order that is active as long as the market price does not reach the order price or until the market closes that day.
What does it mean to have a “long” or “short” position?
A long position is when you buy with the aim to sell later at a higher price. A short position is when you sell with the aim to buy back later at a lower price. The risk of holding either long or short positions is equal. Although in theory, if you are short a position, the stock could continue to rise indefinitely, whereas if you are long, the position can only fall to zero.
What is the difference between an “intraday” and “overnight” position?
Intraday positions are all positions that are opened and closed within the 24-hour period. This 24-hour period starts every day after the end of day process at 10 p.m. London time.
Overnight positions are positions that are still opened after the end of day process at 10 p.m. London time.
Can I intraday trade in my account?
Yes. You can buy and sell as many times as you like within the same day.
A stop loss order can be used to protect profits and limit losses. When buying a stock (or another instrument), a stop loss order is placed below the current market price to automatically sell if the price falls to the order price. Conversely, when selling a stock (or another instrument), a stop loss order is placed above the current market price to automatically buy back if the price increases to the order price.
What is a limit order?
A limit order is an order to buy or sell at a specific price or better. When you are buying to open a position, you would place a buy limit order below the current market price. Conversely, when you were looking to sell to open a position, you would place the sell limit order above the current market price. Limit orders can also be used to close out a position. You would use a limit order when you have a profit target to exit a position. If you bought to open a position and you want to sell out of the position at a price that is above the current market price, you would place a sell limit order at a price above the current market. If you sold to open a position and you want to buy back the position at a price that is below the current market price, you would place a buy limit order at a price below the current market. Always have a stop loss in place to protect yourself.
What is a one cancels other (OCO) order?
An OCO order is a combination of a stop loss order and a limit order. It enables you to set a profit target as well as lock in profit (or cut your losses) if the market moves against you. The order will be automatically executed once the market price hits either of your orders. Once one of the orders has been executed, the other order is cancelled.
At what prices are orders executed?
A sell stop loss order is executed at either the stop loss price or lower and a buy stop loss order is executed at either the stop loss price or higher. Limit profit orders are executed at the limit order price.
Can my orders be partially filled (executed)?
No. Your order is either filled entirely or rejected.
Can I amend or cancel an order if it has not been executed?
Yes. You can amend or cancel an order at any time if it has not been executed. If the market price is close to your order price, you have to act quickly before the market reaches your order price.
Can I amend or cancel an order if it has been executed?
No. You cannot amend or cancel an order if it is already executed.
What is the meaning of good till cancelled (GTC) and good till end of the day (Day Order)?
Good till cancelled (GTC) is an order that is active as long as the market price does not reach the order price; the order will remain active until you decide to cancel it.
Good till end of day (Day Order) is an order that is active as long as the market price does not reach the order price or until the market closes that day.
What does it mean to have a “long” or “short” position?
A long position is when you buy with the aim to sell later at a higher price. A short position is when you sell with the aim to buy back later at a lower price. The risk of holding either long or short positions is equal. Although in theory, if you are short a position, the stock could continue to rise indefinitely, whereas if you are long, the position can only fall to zero.
What is the difference between an “intraday” and “overnight” position?
Intraday positions are all positions that are opened and closed within the 24-hour period. This 24-hour period starts every day after the end of day process at 10 p.m. London time.
Overnight positions are positions that are still opened after the end of day process at 10 p.m. London time.
Can I intraday trade in my account?
Yes. You can buy and sell as many times as you like within the same day.
How do I download the trading platform?
Click here to download the GCFD Trader. Alternatively, you can log-on to the web-based version of the GCFD Trader from the upper right-hand corner of our homepage.
How do I log-on to the trading platform?
To log-on to the trading platform you will need to enter the username and password that were email to you. To log-on to the web-based version of the platform, click on to the GCFD Trader link in the upper right-hand corner of our home page.
For the downloadable version of the platform, launch GCFD Trader by clicking on the GCFD Trader icon on your desktop, enter your username and password, select either live or demo and click on Login.
For the downloadable version of the platform, launch GCFD Trader by clicking on the GCFD Trader icon on your desktop, enter your username and password, select either live or demo and click on Login.
What do I do if I need to change or have forgotten my username and/or password for my account?
Please send an email, including your account number, to info@globalcfd.com We will then issue you a new username and/or password. For security purposes, we will send the new information to the email address we have on file.
Additionally, you can click on the “Forgot Password?” button on the upper right-hand corner of our home page to request for a new password. Again, for security purposes, we will send the new information to the email address we have on file.
Additionally, you can click on the “Forgot Password?” button on the upper right-hand corner of our home page to request for a new password. Again, for security purposes, we will send the new information to the email address we have on file.
Do I have to pay for the live trading platform?
You do not have to pay to use either of our live trading platforms. They are provided to you free of charge as long as you maintain an open account with Global CFD. Demo accounts are provided for a limit of 30 days free of charge.
What languages are available for your trading platform?
Our trading platforms are available in multiple languages. To find out what languages are available please contact us.
Are charting tools included on your trading platform?
Yes, charting tools are available free of charge on the trading platforms that we provide.