Forex - MansionFinancial

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Mansion Financial offers introductory answers to frequently asked questions about Mansion Fianancial, products and services.


What is CFD?

    A Contract for Difference (CFD) is an agreement between two parties to settle, in cash, the difference between the opening and the settlement prices of a particular instrument. CFDs mirror the price performance of the underlying financial instruments, without the need to physically own the assets, and do not involve any physical settlement of the financial instruments. CFDs are traded on margin, allowing you to leverage your position and trade with only a percentage of the cost of the underlying financial instrument.

How are CFD valued?

    CFDs are quoted on a Spot basis and are priced almost identically to their underlying instruments such as a share, index or currency.

When I buy a CFD contract, am I entitled to any ownership of the underlying assest?

    When you buy a CFD contract, you do not actually own the underlying asset. However, you are entitled to some benefits as if you were an owner such as dividends, rights issues etc. The only difference is that you will not have any voting rights on equities.

What charges am I subject to?

    The typical charges include commission and finance charge on any position held overnight.

What are the margins required?

    Since CFDs are traded on margin, you will be required to set aside a small percentage of the position size known as margin requirement before initializing any open position. Because you do not have to pay the full amount of your position size, CFDs enable you to maximize your exposure to the underlying instrument with little capital. Leverage has the effect of magnifying any trading profits or losses. The maximum amount of leverage available to you varies with the instrument you are trading.

How do I calculate margins?

    The margin requirement for a position is calculated by multiplying your CFD lot size by the applicable margin amount:
    Margin requirement = (lot size) x (margin amount)
    For example: If the margin amount per lot for USDJPY is USD 1,000 and you buy 5 lots at 105.00 then the lot size is 5 lots and the

    margin requirement = Lot Size (5) x Margin Amount (USD 1,000) is USD 5,000.
    If your account currency is RMB, the above margin requirement will be converted to RMB:
    USD 5,000 x USDCNY rate (say 6.85) = RMB 34,250

What are your margins?

    The margin amount for most, if not all, currency financial instruments are USD 1,000 per lot.

What is 'Stop Out'?

    Stop Out is a forced liquidation or closure of one or more of your open positions. Your trading account will be subjected to liquidation or 'Stop-Out' if account equity falls below a pre-specified margin requirement level (Stop-Out Level) to support the open positions.

When will the 'Stop Out' process stop?
    'Stop Out' process will terminate immediately when the account equity is higher then the Stop-Out Level.

How are my open positions marked-to-marked against real time prices?
    Your open positions are marked-to market with real time bid/offer prices.

What is floating profit lost?
    Floating profit/loss is the real time value of the profit/loss on your open positions.

What is closed rate profit lost?
    Closed Trade profit/loss is the realized profit/losses for the particular trade.

What are the currencies accepted by Mansion Financial?
    The following list all the currencies accepted by Mansion Financial:

       1. Australian Dollar (AUD)
       2. British Pound (GBP)
       3. Euro (EUR)
       4. Indonesian Rupiah (IDR)*
       5. Malaysian Ringgit (MYR)
       6. Chinese Renminbi (RMB)
       7. Thai Baht (THB)
       8. US Dollar (USD)

 How do I deposit funds in my Mansion Financial account?
    Before betting with Mansion Financial, you will need to fund your account using one of the following deposit options:

       1. Quick Transfer
       2. NETELLER
       3. MoneyBookers
       4. TPay (Thailand e-Wallet)
       5. NextPay
       6. Western Union Money Transfer
       7. MoneyGram Money Transfer
       8. Local-Pay : Local Bank Deposits
       9. International Bank Transfer
      10. Bank Draft / International Money Order
      11. VNdebit

How do I withdraw funds from my Mansion Financial account?
    You can withdraw money from your Mansion Financial account via the following methods:

       1. Withdrawal to an e-Wallet Account
             1. NETELLER
             2. Moneybookers
       2. Local Bank Transfer
       3. International Bank Transfer

How long until I receive my money?

    As long as we have received and processed any information you are required to send us in accordance with the Mansion Financial Withdrawal Policy, any withdrawal request will be sent to our Finance team for processing. Withdrawals will be processed within the following time frames:

 

  First-time withdrawals

    If it is your first withdrawal request and you have sent us all of the necessary information required in accordance with the Mansion Financial Withdrawal Policy, then you should allow 3 business days for this information to be reviewed and verified prior to our Finance team commencing processing of your withdrawal.

Will I be charged for deposit transactions?

    No, as our valued members, you will not be charged for any deposits into your Mansion Financial account. In fact, Mansion Financial will credit your account for any charges you paid in connection to the deposit transaction, as long as you are able to provide an official receipt. You should fax or email a copy of the receipt to us at bank@mansionfinancial.com.

Will I be charged for withdrawal transactions?
    All withdrawals will be subjected to 1% withdrawal fee. The fee will be deducted separately from the requested withdrawal amount.

    Example:
    USD1,000 withdrawal request is submitted. Upon approval, USD1,000 will be credited into your preferred withdrawal method and an additional USD10 will be deducted from the trading balance.

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