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Account Management

1

Deposit Funds

Instant deposit

We provide two method to instant deposit: Bank Wire and RMB Instant Pay. You can choose either of them according to your situation.

Bank Wire

Bank Wire is available, customers can submit the payment via our website using the Bank Wire and there is no maximum limit for payment. And If you choose that, bank wire may take 1-3 working days to process.

RMB Instant Pay

Before you submit the application, please fill in the information according to the request on the website. It is important to note the correct identification number when transferring money， and do not transfer funds to a private account to avoid losses.

2

Withdrawal

You could submit the application on our website and we will process your application during 1-2 working days.

 

Notice: The information on withdrawal application must as same as it on payment application, if you choose Bank Wire or RMB Instant Pay as the method to instant deposit.

Processing time & Cost

We will handle the withdrawal request within 3 working days if your documents contain all the required information. There is no charge for standard withdrawals.

 

Due to AML policy, third party deposit and withdrawal are not permitted. All funding request with third party account will be declined, and CNX is not liable for any costs incurred due these requests.

Please note that generally banks refer to transfer charge fees and the fees can be deducted from the amount of the withdrawal.

 

Please be aware that any transfer involves to banks, we cannot guarantee that the transfer will be processed immediately, or charge any fees.

3

Leverage Condition & Margin

Leverage Condition

Considering about the risk of losses, we must advise clients to restrict the use of trading leverage and adopt a strict trading style, e.g. the use of stop and limit orders.

 

The use of leverage can benefit your profits, but involves greater risks to your capital. If the currency underlying your trading moves towards to the opposite trend, leverage will significantly bring you potential losses.

Margin

As a condition of entering into forex trading, we will require the deposit of funds to secure clients’ liability to us for any losses which may be incurred in respect of transaction. Initial margin is due and payable prior to opening a transaction and we will decline to open any transaction if you do not have sufficient available cash (cleared funds) in clients’ accounts to satisfy the initial margin required for that transaction at the same the order is.

 

Before clients undertake to trade with us we will take all reasonable steps to offer clients with a clear explanation of spreads, fees, funding and other charges for which you will be liable. You should appreciate that these charges will affect your trading net profits or increase your losses.

4

Account Types

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Application Test

  • 1. A _________ is equal to 0.01 for exchange rates expressed to two decimal places, or 0.0001 for exchange rates expressed to four decimal places.
  • 2. A _________ is used by most forex brokers to close out an open position at the end of the business day, and reopen an identical position as of the next day.
  • 3. A carry trade is based on the interest rate differential between two currencies. The idea is to hold _________ the currency with the higher interest rate, while holding _________ a currency with a lower interest rate.
  • 4. If you have positive carry, your position _________ money while it is open, but if you have negative carry, you must _________ interest while the position is open.
  • 5. "Trading on the technicals" refers to trading based on information derived from _________. This is also known as technical analysis.
  • 6. "Trading on the fundamentals" - or "trading the news" - describes traders that attempt to predict the effect _________ such as interest rate changes and labor reports will have on an exchange rate.
  • 7. Fundamental analysis is the study of _________ in an attempt to predict future market conditions.
  • 8. A _________ order is executed immediately when submitted and is priced at the current spot market rate.
  • 9. A _________ order is an order to buy or sell a currency, but only when certain conditions are met. These conditions are in the form of instructions and are attached when the order is first created.
  • 10. A limit order that has not yet been executed, is said to be _________.