CFGFutures.com's trading desk is open 24 hours daily from 17:00pm ET
Sunday through 16:30 ET Friday. 1.800.465.4373, *1
24-hour trading is available in over 50 currency pairs: EUR/USD, USD/JPY, GBP/USD,
USD/CHF, USD/CAD, AUD/USD, EUR/JPY, EUR/GBP, EUR/CHF, GBP/JPY, AUD/JPY,
CHF/JPY, EUR/AUD, GBP/CHF, AUD/CAD,AUD/CHF, AUD/NZD, AUD/SGD, CAD/CHF,
CAD/JPY, CHF/NOK, CHF/SEK, EUR/CAD, EUR/HUF, EUR/NOK, EUR/PLN, EUR/SEK,
EUR/ZAR, GPB/AUD, GBP/CAD, GBP/DKK, GBP/HUF, GBP/NOK, GBP/NZD, GBP/SEK,
GBP/SGD, NOK/SEK, NZD/CAD, NZD/CAD, NZD/CHF, NZD/DKK, NZD/JPY, NZD/SEK,
NZD/SGD, NZD/USD, SGD/JPY, THB/JPY, USD/CZK, USD/DKK, USD/HUF, USD/MXN,
USD/NOK, USD/PLN, USD/SEK, USD/SGD, USD/THB, USD/ZAR
Normal dealing spreads are 3-5 pips for the major currency pairs.
Minimum transaction size for standard accounts is 1 lot, or 100,000 of
the base currency, with a minimum margin deposit of 1% (100:1 leverage).
For example, a US$100,000 position would require an initial margin
deposit of US$1,000.
CFG charges NO trading commissions or fees, regardless of account
balance or trading activity. The only cost you incur are the spreads
between the bid and ask price set by the FX Dealer.
CFG clients have the ability to execute trades directly from real
time streaming bid/ask quotes. Live prices are continuously published to
clients via CFG's trading platform, and traders can at any time
click on the current bid or offer and instantaneously execute a trade.
Prices are updated automatically as market conditions dictate.
Trading over the Internet
Executing a deal with CFG via the Internet is a simple two-step
process. Simply enter the number of lots and then click on the bid (buy)
or offer (sell) for the currency pair you wish to trade - your deal is
automatically executed. The dealing software automatically calculates the
initial margin requirement based upon the notional amount of the deal, and
if sufficient funds are available in your account, will accept the
transaction. Deals are confirmed online, normally within one second, and
the system instantaneously updates both your open position and calculates
your current P&L.
Live clients may trade over the telephone 24 hours a day, from Sunday at
1700 ET through Friday at 1630 ET. When trading via phone, our dealers
will quote the same tight spreads available via the dealing platform. All
trades executed via the phone are subject to a pre-deal margin
availability check and will be manually entered into the customer's
account for integrated P&L analysis and reporting. All telephone calls are
recorded for the safety of both parties.
Phone Dealing Procedure
- Immediately state your
ID and Password.
- State your interest.
Always be sure to include the number of lots and the currency pair you
are interested in.
Example: "I would like
a price on 5 lots of Euro/Dollar."
- The Dealer will then
provide a 2-way price quote.
is 1.2416/20" (the first number being the bid, the second the offer)
- State your trade.
Example: "At 1.2416, I
sell 5 lots of Euro/Dollar,"
"At 1.2420, I buy 5 lots of Euro/Dollar"
- If you do not wish to
deal at the quoted levels, simply say "Nothing Done", hang up and call
again later. Or, place a limit or stop order at your desired level.
- Remember: A price given
is the dealing price at that time; haggling is not allowed nor are
Traders allowed to remain on the phone until the price changes.
- It is important to
remember that Dealing Desk phone lines are reserved for dealing/order
purposes only, and that proper Phone Dealing Procedures be observed at
all times. All other inquiries, such as account issues or general
information, can be addressed through 1.800.591.4234 or via email:
CFG's dealing platform provides sophisticated order entry and
tracking. Orders may be entered at any rate - inside or outside the
existing spread - using the following order types:
An order with restrictions on the maximum price to be paid or the
minimum price to be received.
If a trader is long USD/CHF at 1.4627, a limit order would be entered to
sell dollars above that price, for example, at 1.4800.
Stop Loss orders
Order type whereby an open position is automatically liquidated at a
specific price. Often used to minimize exposure to losses if the market
moves against an investor's position.
If the trader above is long USD at 1.4627, a stop loss order could be
left at 1.4549, in case the dollar depreciates below 1.4549.
As a rule, sell stops are filled on our bid, and buy stops are filled on
our offer. This allows CFG to fill client stop orders at the rate
they requested in almost every case. In the rare instance that the
market gaps over a requested rate, the stop is filled at the best
available price. This is an important point for traders who are
accustomed to being filled on sell stops when the offer reaches the
requested order rate. For example, if a stop order is placed to sell USD/CHF
at 1.4549, the trader will be filled when the bid reaches 1.4549 (i.e.
the bid/offer is 1.4549/54).
One Cancels Other orders
A contingent order providing that one part of the order is cancelled if
the other part is executed. This is a particularly useful order type in
that it allows traders to execute specific trading strategies based on
technical analysis - without having to watch the market tick by tick.
As above, with the trader long USD/CHF at 1.4627, a typical OCO order
would be a stop loss at 1.4562 and a limit (take profit) at 1.4700. If
one part of the order is filled, the other is automatically cancelled.
If / Then Single
A conditional order providing that if the first order ("If" order) is
executed, the second order ("Then" order) is activated as a live, single
In cases where the If order does not execute, the Then single order will
remain dormant. When either part of an If / Then order is cancelled, all
parts of the order are cancelled as well.
An example of an If / Then single order would be to first place an 'If'
limit order to buy EUR/USD at 1.0690, fifty points below the current
market rate of 1.0740. The 'Then' part of the order would be a limit
sell order to take profit at 1.0770 (eighty pips above the 'If' order
execution rate of 1.0690). If the market dips to 1.0690 the 'If' order
will execute and the 'Then' leg of the order will become active. Note:
the 'Then' order could also have been a stop loss order at 1.0650 (forty
pips below the execution rate of 1.0690).
If /Then OCO
A conditional order providing that if the first order ("If" order) is
executed, the second order ("Then" order) is activated as a live, One
Cancels Other (OCO) order. Full description of an OCO
order. The execution of either one of the two 'Then' orders
automatically cancels the other.
In cases where the 'If' single order does not execute, the 'Then' OCO
order will remain dormant. When any part of an If / Then OCO order is
cancelled, including either leg of the OCO order, all parts of the order
are cancelled as well.
An example of an If / Then OCO order would be to first place an 'If'
limit order to buy USD/JPY at 118.80, fifty points below the current
market rate of 119.30. The 'Then' part of the order would be an OCO
order: one leg of the OCO could be a limit sell order to take profit at
119.60, (eighty pips above the execution rate of 118.80) the other leg a
stop loss order to sell at 118.50 (thirty points below the execution
rate). If the market reaches 118.80, the 'If' single order is executed,
and the 'Then' OCO order is activated. If activated, the execution of
either leg of the 'Then' OCO order automatically cancels the other.
All of the above orders may
be entered as Day Orders, entered today and good until end of NY business
day (1700 ET). Or, clients may choose to may enter a Good 'til Cancelled
Order (GTC), which is valid until the order is executed or cancelled.
Orders remain open until they are triggered or cancelled. If you close out
a position manually, you must cancel any order(s) relating to that
First In First Out (FIFO)
Open positions are closed according to the FIFO accounting rule. All
positions opened within a particular currency pair are liquidated in the
order in which they were originally opened.
Stop Loss Orders
As a rule, sell stops are filled on our bid and buy stops are filled on
our offer. This is an important point for traders who are accustomed to
being filled on sell stops when the offer reaches the requested order
rate. For example, if a stop order is placed to sell USD/CHF at 1.4549,
the trader will be filled when the bid reaches 1.4549. In the rare
instance the market gaps over a requested rate, a stop order is filled
at the best available price.
Sell limit orders are filled when the bid reaches the requested rate;
limit orders to buy are filled on the offer. For example, a limit order
to buy EUR/USD at 1.0456 will be filled when CFG's offer hits
Good Til Cancelled (GTC) Orders
All GTC orders remain open until they are triggered or cancelled. If you
close out a position manually, you must cancel any order(s) relating to
Orders left over the weekend or
Orders left pending at close of trading on Friday at 1630 ET or placed
over the weekend are subject to a gap open on Sunday evening when
CFG starts trading at 1700 ET. For both stop loss and
limit orders - if your order is triggered due to news, events or other
fundamental factors, it will not be executed over the weekend. Your
order WILL be executed at the prevailing price when CFG's trading
desk opens Sunday. Because of the additional gap risk involved, you may
want to reconsider leaving open orders over the weekend or holidays.
The normal available margin is 2% (50x1 leverage) for standard accounts.
Traders always have the option of employing a lower degree of leverage.
The maximum available margin is 1%.
The minimum margin
requirement is approximately $1000 per lot in a standard account. The
requirements for leverage may vary with account size or market conditions,
and may be changed from time to time at the sole discretion of
If maximum leverage is
employed, traders must maintain the minimum margin requirement on their
open positions at all times. It is the customer's responsibility to
monitor his/her margin account balance. CFG has the right to
liquidate any or all open positions whenever a trader's minimum margin
requirement is not maintained. This is an important risk management
feature designed to strictly limit trading losses in your account.
liquidation of your positions, do not use your entire
account balance as margin for open positions. Instead,
leave enough funds in your account to withstand a market
movement against your open positions. We suggest you
always use stop loss orders to limit your downside risk.
client services should you wish at any time to use a lower degree of
leverage or otherwise adjust the margin settings in your account.
A rollover is the simultaneous closing of an open position for today's
value date and the opening of the same position for the next day's value
date at a price reflecting the interest rate differential between the two
rolls forward all open positions to the next day's value date following
the close of NY trading at 1700 ET.
The spot forex market is
traded on a two-day value date. For example, for trades executed on
Monday, the value date is Wednesday. However, if a position is opened on
Monday and held overnight (remains open after 1700 ET), the value date is
now Thursday. The exception is a position opened and held overnight on
Wednesday. The normal value date would be Saturday; because banks are
closed on Saturday the value date is actually the following Monday.
Daily Housekeeping will occur each evening at 1700ET and will last
approximately 5 minutes. During that time, back office staff will conduct
daily rolls and important system maintenance tasks will be performed.
Online trading MAY be unavailable, but we will accept phone orders.
Deals are confirmed on screen, typically within one second. Full
transaction details may be accessed on screen as well, including date,
time, rate, notional amount bought and sold, USD value, and reference
The dealing software tracks all trading activity in real time, allowing
clients to view current open positions, real-time profit and loss, margin
availability, account balances, and all historical transaction details
In addition, by clicking on
the 'reports' tab on the menu bar, clients may access five ad hoc reports:
Account Value Summary - an online
monthly account statement. View current account balance (realized P&L) for
a selected month, as well as all deposits, withdrawals, interest earned,
and fees charged (if any).
Detailed Transaction Listing - lists
complete trade detail for any selected date range, including deal date,
currency pair dealt, trade direction (buy or sell), contract size for both
currencies in the pair dealt, and executed deal rate.
Open CFG Positions - a summary view of
all open positions, including contract size, USD value, average rate of
open positions, reval rate (current market rate), and unrealized P&L. This
report supplements real-time position information available in the
position management screen of the trading platform.
Order History - provides detail on
all order activity for a selected data range, including order entry date
and time stamp, listing of all cancelled and/or executed orders, along
with its reference number. The Log Entry column provides a confirmation
number and action detail for any order.
Rollover History - provides rollover
details for any transaction held open past 1700 EST, including rollover
rate and USD value. May be generated for any given date range.
Note: All reports can be printed and/or exported into Microsoft Excel via
a simple cut and paste.
Customer account statements are provided online in the Reports section of
the trading platform. Customers have access to a full suite of available
reports, including account value summary, detailed transaction listing,
open positions, etc. Reports may be generated for any date range, and
printed or saved for future reference. For more information on the
available reports, please see our user guide.
Monthly account statements
are mailed upon request only. To receive monthly account statements by
mail, you must complete and return a Request to Receive Monthly Account
Statements by Mail.
Funding Your Account
There are four easy ways to fund your account.
Wire Transfer - The fastest way to
fund your account
Funds sent via wire are typically received by CFG FX's clearing firm GFT
FOREX within 1-2
business days, and credited to client's account the day of receipt. All
wire transfers should include the client's name and account number in
the reference section of the wire. Please be sure that the beneficiary
is listed as Global Forex Trading
Click here for wiring instructions.
E-Checks or Credit Cards
E-Checks or Credit Cards
are typically credited to
client's account within one (1) business day.
Personal or Business Check
Funds sent via personal or business check take 5-10 business days (from
date of receipt) to clear and be credited to client's trading account,
according to our banking partner's posted schedule. This can vary
depending on the bank and state of issue. International checks may take
several weeks to clear.
Please make all checks payable to "GFT
Forex. " and mail to:
Connelly Futures Group,LLC- Forex Division, 3120 W. 40th Ave, Denver,
To withdraw funds from an existing account, please e-mail request to
customercare@CFG or fax to
Withdrawal requests are
normally processed within two (2) business days of receipt. There is no
fee for withdrawal requests via check. Withdrawal requests via wire
transfer will incur a $40 fee for wires within the United States, and $60
fee for international wires (including Canada).
To expedite processing,
please indicate your account number on all wires, checks, and withdrawal
requests and all other correspondence regarding your account. To avoid
delays, please include intermediary bank information on all international