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The Company

TFI Markets is a regulated Payment Institution and Investment firm that specialises in the provision of corporate solutions for hedging, trading and settlement of foreign exchange exposures in a variety of financial instruments including spot, forwards, options, cfds, swaps, and structured products.

TFI Markets offers corporate clients continuous access to the foreign exchange market around the globe through both electronic means and over the phone.

TFI Markets provides customised foreign exchange and payment solutions to corporates with currency exposure that arise from imports, exports, prepayments, payroll, purchases and sales of commercial or financial assets.

Our Regulators are:

Central Bank of Cyprus
Payment Institution License number. 115.1.2.13/2018
Licence Link

CySEC — Cyprus Securities and Exchange Commission
Investment Services license number  117/10
Licence Link

Opening / Managing Account

If our Account opening procedure requirements are met, an account can be opened the same day.

We can only accept clients from  the EU / EEA except Belgium.

Learn more
Countries in the EU and EEA

A client must complete the relevant Account opening Forms and submit the relevant due diligence documents as described below. Original documents will be requested prior opening of the account.

TFI Markets reserves the right to ask for more documents if needed.

Obligatory Documents — Corporate Client

  1. Account Opening Forms/ FATCA Questionnaire
  2. Terms and Conditions for the provision of Payment Services
  3. CRS Form
  1. Duly certified copy of Certificate of Incorporation
  2. Duly certified copy of Certificate of Directors and Secretary.
  3. Duly certified copy of Certificate of Registered Office.
  4. Duly certified copy of Certificate of Shareholders.
  5. Duly certified copy of Memorandum and Articles of Association.
  6. Nominee Agreement(s)/Trust Deed(s), where applicable
  7. Original or Certified true copy of company Utility Bill (e.g. electricity, telephone, etc) not older than 6 months
  8. Latest audited accounts
  9. Ownership structure signed by the UBOs.
  10. For all authorised signatories, authorized to conclude transactions, directors, registered shareholders and beneficial owners:

Cyprus Residents

  1. Duly certified copy of passport and/or ID card AND
  2. Original or Certified true copy of utility bill (e.g. electricity, telephone, etc) not more than 6 months old

Non – Cyprus Residents

  1. Duly certified copy of passport AND
  2. Duly certified copy of ID card AND
  3. Original or Certified true copy of utility bill (e.g. electricity, telephone, etc) not more than 6 months old

Margin Clients – for Forwards, Swaps, Options etc

Due diligence the same as above plus EMIR (for Corporates), Margin schedule, Terms and Conditions for Investments Services

There are No Fees for opening an Αccount.

The maintenance fee which the company charges for Investment Services Αccounts in case of absence of trading activity within 1 year is:
US Dollars 30 per year.

SWIFT confirmation is send to a client the same day we process his withdrawal.

Margin (Trading Services)

TFI will send under request statements to its clients. Margin clients can also review and print statements of their account directly from the MT4 terminal 24/7.

Definitions

The buyer of the option has the right, but not the obligation to buy or sell a specified currency at a specified exchange rate on or before a specified date.  For this right a premium is paid to the seller of the option. When the settlement day is reached and the buyer of the option is in the money (he/she stands to gain if the option is exercised) he/she will exercise the option.

The seller of the option sells the right to the buyer to buy a currency against another currency from him/her. The seller receives a premium but he is obliged to accommodate the decision of the buyer regarding exercising his option.

It is an instruction set by the client to buy or sell a currency-pair  at a different price than current market price.

On rare occasions (when there is a gap on Sunday night open, or when there is large spike in the market) an order might not be executed at the rate requested by the client but the best available rate.

The difference between bid and ask price of each currency pair.

Stop loss is a level placed by the client on an open position to limit his/her losses or to protect gains. If price moves against the client, then the trade will close at the predetermined level. A stop loss can also be placed as a new position, i.e. buy stop or sell stop. For example a client may place an order to buy if price rises above a level.

A take profit is a level placed on an open position where the client’s order will close automatically at this level for a profit or to limit losses. A take profit is activated when price moves in favour of the client.

The difference between the exchange rate of the spot transaction and the forward transaction in a foreign exchange swap. When a client, either a margin or a forwards one, he/she rolls the position to the next day he/she will either receive interest or pay interest on his position.

Value date is also called maturity date.

For MT4: For most currency pairs (apart from usd/rub, eur/rub, usd/cad, eur/try, usd/try for which the value date is 1 day after the current day) the value date is two days after the current date. The value date of each position is postponed to the next day until the transaction is closed. This is done every day at midnight and the client either receives interest or pays interest on each position.

If equity (account balance plus profit or loss of open positions) over margin required to hold a position falls to 60% then the client will receive a margin call from TFI markets and can add funds in the account if he/she wishes so.

A contract for difference is a financial instrument that allows traders to invest into an asset class without actually owning the asset. Differences in settlement are made through cash payments, instead of the delivery of the underlying asset.

If the ratio of equity (account balance plus profit or loss of open positions plus any credit granted) over margin required to hold a position falls to 50% then TFI will stop out the position due to a reduction in trader’s margin that can no longer sustain the open position.

If there is more than one order open then TFI markets will close first the most losing position until margin level rises above 50%

The funds available in a client’s account including his profit/loss of any open positions and any credit granted.

An agreement between TFI and the client to buy or sell a predetermined amount of currency against another currency at a specified price for settlement at a predetermined time in the future.

Forward points are the basis points added or deducted from the current spot rate of a currency pair to determine the forward rate. These points reflect interest rate differentials between the two currencies of the transaction

The ratio of available funds in the account to the position a client may open. For example if a client has 5,000 euro free margin in the account and a leverage of 1:20, the position he/she can open is up to 20 times  in size .i.e 100,000 eur/usd position.

Leverage is positively correlated with risk, therefore clients are advised to not use up all their free margin to open positions.

It is the amount required to open a forex position. For example if a client is on a 5% margin account and wants to open a position of 100,000 eur/usd he/she will need to have 5,000 euro at least available in the account.

To maintain this position his equity must be maintained above 50% of the margin needed for this positon, i.e. his equity must not fall to or below 2000 euro.

Handling of Orders

Yes unless in rare occasions when there is a gap when markets open on Sunday midnight or when there is a large spike due to news announcements. In these cases your order will be executed at the first available price since there will be no prices at the rate the client requested.

TFI Markets offers corporate clients continuous access to the foreign exchange market around the globe through both electronic means and over the phone.

TFI Markets provides customised foreign exchange and payment solutions to corporates with currency exposure that arise from imports, exports, prepayments, payroll, purchases and sales of commercial or financial assets.

The client cannot place a stop loss or take profit at levels that are very close to the market rate. For example the client can place an order on eur/usd which is more than 5 pips away from current rate.

No.

All clients can place the following orders:

Buy limit, sell limit, buy stop, sell stop,
MT4 clients can also place take profit orders and stop loss orders on open positions

We can offer a variety of instruments (SPOT, forward contracts, swaps, various types of options, NDFs, Rolling spot contracts, margin trading via the MT4 – CFDs, commodities CFDs etc.

MT4 / Forwards – You can place a pending order either by calling TFI Treasury dept. until 23:59 excluding weekends or directly from your terminal choosing on the Trade field /Type/ Pending Order 24/5.

Yes. You can monitor all your Trades transactions via the MT4 terminal. Our Customer Support Department can assist you with this at all times.

No. A trade that is confirmed by TFI MARKETS cannot be cancelled.

A client has the choice to reverse his trade and bare any gains or losses depending on the rate of the time he chooses to reverse his trade.

Forward points may apply to the rate.

Margin / Leverage / Risk

If you are considering to use derivatives to hedge some risk, we can identify a range of solutions to cater for your specific needs. Depending on the duration of your exposure and your risk appetite we can offer a variety of instruments (forward contracts, swaps, options, NDFs etc) for your consideration.

A forward is a contract between the client and TFI Markets that locks in the exchange rate for the exchange of two currencies on a future date. The forward contract can be tailored to reflect the exact amount of exposure and value date required by the client. The client will initially deposit a margin with TFI Markets and at the value date the forward is closed-out and the client can either effect a payment or just settle the profit or loss from the contract.

The higher the leverage is, the higher your risk will be. Leverage and risk are positively correlated.

Yes, in case of extreme market movements and as long as there are available funds in your account, you may lose more money than the funds deposited as margin.

No. The Company offers negative balance protection.

Deposits / Withdrawals

No. We do not accept cash.

Yes, a client can deposit a check to a TFI MARKETS account. By depositing a cheque to TFI accounts, the client must also provide a copy of the check and the deposit slip to TFI for our records.

In order for TFI Markets to be able to proceed with a payment the funds deposited by check must clear in our accounts. This might take some extra days depending on the type of the check deposited.

Please note that we are only able to proceed with fund deposits when the Client’s funds become available to us.

Cheque deposits normally clear within 6 business days.

No. We do not accept cash deposits.

Margin (Trading)
The Company’s policy is to return funds to the account we initially received the money from.

Your request to withdraw money will be processed by the company the same day. If your request is received after the currency cut of time, it will be processed the next working day.

Client Money / Funds

Your money is kept in pool clients’ bank accounts and is separated from the company’s funds.

In case of liquidation of the company, clients’ funds are segregated from the property of the company and returned to the clients.

TFI Markets Ltd, is a member of the Investor Compensation Fund (ICF) which applies to the Investment Services provided by the Company.

The objective of the Fund is to secure the claims of covered clients against CIFs, in situations where the CIF is unable to fulfil its obligations. The maximum amount per client that can be covered by the Fund is EUR 20,000.

More information on the Compensation fund can be found in Legal Documentations

MetaTrader 4 Platform

MetaTrader 4 is an industry-leading trading platform for dealing with international financial markets.

It considered one of the standard trading platform for Forex, CFDs and Futures traders. MT4 offers reliable online trading, real-time quotes, advanced technical analysis, access to financial news and events and much more.

MetaTrader 4 runs on the following Operating Systems:
  • Windows 7
  • Windows 8 / 8.1
  • Windows 10
  • macOS*
  • Linux*

MT4 for smartphones is available for:

  • iOS (Requires iOS 7.0 or later)
  • Android OS (Requires Anroid 4.0 or later)

*Special multi-step Installation is required.

Our custom MT4 platform is always available in the “Trading Account” section.

Download the MT4 client

iOS & Android Apps

Yes.

MetaTrader 4 is available for the iOS and Android smartphone operating systems. You can learn more below:

MT4 Platform Download Section

Other

We will always do our best to accommodate customer’s request.
Please note that any special requests are subject to company policy, local legislation and other conditions. In some cases, accommodating special request may result in a delay of payment and/or additional charges.