Trading Hours and Conditions

Due to Bitcoin’s high volatility, the spread will increase from 10 points to 40 points effective 26.05.2017 at 07:00  GMT . the leverage will remain  at 1:10 .

Trading conditions are set to answer trader’s every need and ensure an easier and more comfortable trading experience.

 

Deposits
 

Traders can open up an account with an initial deposit of $200 and start trading. Accounts at Financika are denominated in US Dollars, so all trading deposits will be converted into the base currency of the trading account (US Dollars).
 

Trading Hours
 

With Financika, clients have access to the markets anytime they are open - from 22:00 GMT on Sunday night until 22:00 GMT on Friday night. Online FX and Commodities are traded at all times during these market hours. CFDs, however, have different operating hours, depending on the location of the market:
 

  • US Market CFDs are traded from 2:30 pm – 9:00 pm GMT, Mondays to Fridays.
  • European & British Market CFDs are traded from 8:00 am – 4:30 pm GMT, Mondays to Fridays.
  • Asian Market CFDs are traded from 0:00 am – 2.00 am GMT and 3:30 pm – 6:00 pm GMT, Mondays to Fridays.

Margin Liquidation
 

Margin liquidation happens when trader’s account equity reaches zero and as a result, all positions are closed automatically. In this way Financika protects the client’s trading account from reaching a negative balance and being liable for an amount exceeding his/her deposit.
 

Market Conditions
 

Due to our policy of no slippage, spot orders will be executed at the price you click/quote, during regular foreign exchange market conditions.
 

During volatile market conditions clients receive consistent ask (buy) and bid (sell) prices with fixed spreads. Spot orders will be executed at the price the trader quoted.
 

Leverage  
Foreign Exchange currency trading (Forex): 1:200
Commodities trading: 1:200
CFD on Indices: 1:100
CFD on Shares: 1:10
5 Protected Positions: 1:20