FAQ
Forex RELATED QUESTIONS:
What does margin mean?
What is the margin level?
What is a scalping?
At what time does Forex trading open and close?
What does CHDM call the overnight period?
What happens if, during the overnight period, there is a price gap (up or down), will the pending order be executed?
Is there any situation when the spread increases?
What are the symbols for Gold and Silver?
Is the lot quantity the same for a standard or a mini account?
What do DD and NDD mean?
What is a Market Maker?
When can Gold “XAU” and Silver “XAG” be traded?
What are the minimum quantity to trade Gold “XAU” and Silver “XAG”?
When can we trade on the USDMXN?
CHDM RELATED QUESTIONS:
Is CHDM governed and regulated by any regulatory body in Switzerland?
Is the plan to open CHDM as a bank going to change the mode of operation?
Where does market news come from?
When asked, is CHDM a Market Maker?
Is that correct to say that CHDM is an ECN (Electronic Communication Network)?
What is Phincorp Technical Research? What is its relationship with CHDM?
ACCOUNT RELATED QUESTIONS:
Do clients pay interest on a deposit when opening an account?
How does one withdraw their profit?
Is there a minimum amount of trades one customer must do?
What is the procedure to follow for switching from one account type to another?
What is the procedure for switching from one account type to another?
Is it possible to keep an account open without any funds?
Can CHDM transfer a clients’ profit to all types of accounts?
TECHNICAL RELATED QUESTIONS:
How to empty your Java cache and Internet temporary files?
What are the main reasons for a platform disconnection?
What happens when the maintenance is being performed on the demo?
What is the procedure to follow when the client meets a gap between the Chart tool and the live Trading Quotes?
What is the procedure one would follow to face Empty Charts on JAVA Advanced Trader?
Is the Mobile Trader Platform compatible with the Blackberry and iPhone?
FOREX RELATED QUESTIONS:
Q: What does margin mean?
A: A margin deposit is not, as many traditional traders suggest, the payment in cash for purchasing market shares. A margin is in fact a guarantee or a trust deposit, providing protection from losses during a deal. It allows traders to open positions on amounts that greatly exceed their account limits and increase their buying power. CHDM offers a 1% margin (or 1:100 leverage), which means one can control 100 times your deposit in the real market.
Q: What is the margin level?
A: The margin level shows how much margin one has left on one’s account. If the margin of the account falls below 1%, then all the positions will be closed automatically. Using this system, the client’s account cannot overdraw even under volatile, fast-changing market conditions.
Q: What is a scalping?
A: Scalping is a trading strategy that attempts to make many profits on small price changes. Traders who implement this strategy will place anywhere from 10 to a couple hundred trades in a single day in the belief that small moves in currency price are easier to catch than the larger ones. CHDM has no problem with scalpers, given our STP technology (Straight Through Processing) in which orders go straight through to the market.
Q: At what time does Forex trading open and close?
A: The Forex trading opens on Sunday at 23.00 and CET closes on Friday at 23.00 CET.
Q: What does CHDM call the overnight period?
A: The overnight period is when the market is closed which is after 23:00 CET throughout the week. During this overnight period customers may receive or pay interests. These interests depend on the currency pairs and the base (long or short) they are trading with.
Q: What happens if, during the overnight period, there is a price gap (up or down), will the pending order be executed?
A: CHDM honors all stops and limits, therefore, the customer’s account will be filled exactly at the specified stop price.
Q: Is there any situation when the spread increases?
A: The only time the spread increases is during major volatility or when there is a lack of liquidity in the market.
Q: What are the symbols for Gold and Silver?
A: Gold: XAU Silver: XAG.
Q: Is the lot quantity the same for a standard or a mini account?
A: No. The minimum lot quantity for a standard account of 5000 USD is 100,000, whereas the minimum lot for a mini account of 2000 USD is 10,000.
Q: What do DD and NDD mean?
A: DD means Dealing Desk and NDD means No Dealing Desk, which can also refer to Market Maker or No Marker Maker.
Q: What is a Market Maker?
A: A Market Maker is a dealer who supplies prices and is prepared to buy or sell at the stated bid and ask prices. A market maker runs a trading book.
Q: When can Gold “XAU” and Silver “XAG” be traded?
A: Gold and Silver can be traded from 7:30 AM to 10:30 PM.
Q: What are the minimum quantity to trade Gold “XAU” and Silver “XAG”?
A: The minimum for trading Gold is 40oz. and for Silver 2000oz for the mini account.
Q: When can we trade on the USDMXN?
A: The opening hours to trade on the USDMXN, from 02:30 PM CET to 09:00 PM CET.
CHDM RELATED QUESTIONS:
Q: Is CHDM governed and regulated by any regulatory body in Switzerland?
A: CHDM is fully regulated, capitalized and registered as a Forex broker under the Swiss federal department of Finance in Geneva, Switzerland. CHDM complies with Swiss laws which in return give it an advantage in comparison to other Forex brokers. Switzerland is extremely restricted in financial licenses and the procedure of accounts opening, which is why it is the financial capital of the world.
Q: Is the plan to open CHDM as a bank going to change the mode of operation?
A: There is much to be expected from CHDM within the next few months. The increase in flexibility, credibility and CHDM’s product range will be noted and celebrated by all involved.
Q: Where does market news come from?
A: CHDM has two different sources for its market news; one being the Dow Jones and the other being Market News International or Bloomberg.
Q: When asked, is CHDM a Market Maker?
A: CHDM has a support desk which takes clients calls; however, we do not trade against our clients. CHDM is an interbank broker with STP technology.
Q: Is that correct to say that CHDM is an ECN (Electronic Communication Network)?
A: Technically, that is incorrect. CHDM electronically clears our clients trades with other institutions, however, in practice when one mentions ECN one expects to see the end counter party’s name (UBS, HSBC, etc).
Q: What is Phincorp Technical Research? What is its relationship with CHDM?
A: Phincorp Capital Markets is a financial advisory firm deriving forecasts from a proven method of financial forecasting to deliver comprehensive short, medium, and long-term analysis for the major FX markets. CHDM is in partnership with this firm to yield clients selected FREE end-of-month analysis, meant to get them started in the world of technical analysis.
ACCOUNT RELATED QUESTIONS:
Q: Do clients pay interest on a deposit when opening an account?
A: There will be no interest on neither the deposit nor the money earned. The funds will be kept in an UBS account in the name of CHDM. This will be held separately from our daily operating capital.
Q: How does one withdraw their profit?
A: Clients can withdraw their profit by sending an email to the Back Office (
This e-mail address is being protected from spambots. You need JavaScript enabled to view it.
). Upon request they must provide their full name, phone number, e-mail address and account number. Once the Back Office has received the request and everything is in order, the client will receive the money by standard wire transfer on his/her account. Clients’ funds can be withdrawn at their convenience.
Q: Is there a minimum amount of trades one customer must do?
A: There is no penalty on the amount one trades since there are no commission fees. As long as the margin is kept above 1% and the funds are in the clients’ accounts, they have the ability to trade.
Q: What is the procedure for switching from one account type to another?
A: Clients can change an account type by sending an email to the Back Office. Upon request they must provide their full name, phone number, e-mail address and account number
Q: Is it possible to keep an account open without any funds?
A: The totality of the funds can be withdrawn without penalty. However, in this case the account will be placed on a holding status, which will keep the account inactive but hold it for when the client is available to reinvest with CHDM.
Q: Can CHDM transfer a clients’ profit to all types of accounts?
A: No. CHDM Geneva transfers funds only to the bank account stated on the clients’ initial application.
TECHNICAL RELATED QUESTIONS:
Q: How to empty your Java cache and Internet temporary files?
A: To empty your Java cache, go to 'Trading software' in the home page> select ‘Troubleshooting’ and follow the procedure 4.11. To delete your temporary internet files and cookies please open Internet explorer browser. Then click on tools > properties >Select Internet options > Click delete all temporary files and cookies.
Q: What are the main reasons for a platform disconnection?
A: Platform disconnections are usually due to Internet connections. Internet service providers often do resets around 1 or 2 in the morning, which could be the reason of this problem. This can also be caused by a bad wireless connection. Another can be shortage of RAM memory (Having too many applications running at once); this slows down the computer and can cause the platform to disconnect.
Q: What happens when the maintenance is being performed on the demo?
A: From time to time we make updates & changes to the platform, so that it continues to deliver consistent and glitch free performance. You will be contacted by an CHDM customer representative before the changes are made.
Q: What is the procedure to follow when the client meets a gap between the Chart tool and the live Trading Quotes?
A: CHDM allocates maximum resource capacity to its existing client accounts. However, the main reason is simply because prices on the charts are indicative and represent an average of all prices CHDM receives from its liquidity providers.
Q: What is the procedure one would follow to face Empty Charts on JAVA Advanced Trader?
A: In order to display the charts on the platform, the clients must imperatively clear their JAVA cache and Java viewer (follow the Troubleshooting on CHDM web site), as well as a disk clean-up.
Q: Is the Mobile Trader Platform compatible with the Blackberry and iPhone?
A: Yes. However, in case of one’s Blackberry iPhone not accepting certain certificates simply enable them though the appropriate wireless carrier. Please note that the iPhone now has its own mobile trader platform.
