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The Company

Who is TFI Markets?

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.

Who is your Regulators?

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

Payment Services

What is the TFI Pay Service?

TFI Pay is a product by TFI Markets Ltd, a regulated Payment Institution, which provides clients with the ability to execute payments in any currency. Our long standing relationships with leading foreign exchange liquidity providers and our low cost structure enables TFI Pay to execute payments with competitive Foreign Exchange rates at low cost.

TFI Pay is a unique service which is very attractive to both corporate clients and individuals. With TFI Pay services you can benefit from a professional support team and a 24 hours a day, 5 days a week Treasury Access.

What can I use the TFI Pay Service for?

You can use the Service for Currency Conversions, Service Payments, Bulk Payments, International Trade, purchases of High Value Assets and even Personal Expenses.

Learn more

TFI Pay — Payment Services

Hedging Services

What is the TFI Hedge Service?

TFI Hedge is an innovative Service by TFI Markets Ltd, a regulated Investment Firm and Payment Institution, which enables the corporate client to reduce uncertainty and protect the liquidity and profit margin.

With TFI Hedge you can mitigate risk from present or future foreign exchange receivables and payables 24hrs a day, in real time with no transaction costs and at the best currency rates. TFI Hedge is a complete corporate solution that includes live charts, order placement and third party payments.

Who can be interested / benefit from TFI Hedge Service?

Any Corporate entity that receives income or has expenses in a Foreign Currency, or expects to pay or receive Foreign Currency in the future is exposed to Foreign Exchange Risk, and can benefit from the Service.

TFI Pay Online Portal

The TFI Pay Online Portal website layout does not look correct.

If you are using Internet Explorer (version 9, 10 or 11) some compatibility issues may prevent you from using
the portal correctly. For this reason you may see the website layout incorrectly.

Please follow the step by step instruction in the link below to resolve this issue.
https://www.tfimarkets.com/payment-services/browser-compatibility/

The TFI Pay Online Portal website is unresponsive and some functions do not work.

If you are using Internet Explorer (version 9, 10 or 11) some compatibility issues may prevent you from using
the portal correctly. For this reason you may not be able use some of the functions.

Please follow the step by step instruction in the link below to resolve this issue.
https://www.tfimarkets.com/payment-services/browser-compatibility/

Opening / Managing Account

How fast can I open an Account?

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

Do you accept clients from any country?

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

Learn more
Countries in the EU and EEA

How can I open an Account?

TFI Pay | TFI Hedge

A client must complete the relevant Account opening Forms and submit the relevant due diligence documents. Original documents must also be received.

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

Obligatory Documents — Corporate Client

Account Opening Forms/ FATCA Questionnaire
Terms and Conditions for the provision of Payment Services
CRS Form

Duly certified copy of Certificate of Incorporation
Duly certified copy of Certificate of Directors and Secretary.
Duly certified copy of Certificate of Registered Office.
Duly certified copy of Certificate of Shareholders.
Duly certified copy of Memorandum and Articles of Association.
Nominee Agreement(s)/Trust Deed(s), where applicable
Original or Certified true copy of company Utility Bill (e.g. electricity, telephone, etc) not older than 6 months
Latest audited accounts
Ownership structure signed by the UBOs.
For all authorised signatories, authorized to conclude transactions, directors, registered shareholders and beneficial owners:

Cyprus Residents

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

Non – Cyprus Residents

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

Obligatory Documents — Pay Personal account

Account Opening Form/ FATCA Questionnaire
Terms and Conditions for the provision of Payment Services
CRS FORM

Documents to Be Enclosed — Cyprus Residents:

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

Non – Cyprus Residents

Duly certified copy of passport
Duly certified copy of ID
Original or certified true copy of utility Bill (e.g. electricity, telephone, etc) not more than 6 months old.

Margin MT4

A client must complete the relevant Account opening Forms and submit the relevant due diligence documents as described above. He can complete his registration by completing relevant forms. Depending on the origin of the client and the type of the account, personal or corporate, original documents may be requested prior opening of the account.

Account Opening Form – plus / FATCA Questionnaire and CRS Form
Due diligence the same as above.

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

Are there any fees for opening or maintaining an Account?

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.

The maintenance fee which the company charges for Payment Services Αccounts in case of absence of activity for more than 5 years is:
Euro 80 per year.

When do I receive SWIFT confirmation?

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

Where can I find my statements?

TFI Pay | TFI Hedge
TFI Markets sends monthly statements to all their Pay clients. A Pay client can request to receive statements at any time and we will provide it to him. A Pay client that has access to the Online Portal can also have access to his account online and view his account history 24/7.

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.

Cost & Fees

What is the TFI Pay transfer fee?

It's the cost of the SWIFT.

For more information please refer to our Fees & Charges table on the link below.
https://tfimarkets.com/legal/tfipay/

Do you charge any commissions in addition to the TFI Pay transfer fee?

We do not charge any foreign exchange commissions.

How do I estimate the TFI Pay transfer fee for my Foreign Exchange transaction?

You can estimate the transfer fee for any Foreign Exchange transaction by using our Fees & Charges link below.
https://tfimarkets.com/legal/tfipay/

Definitions

What is an order?

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

CFD

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.

Forward

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.

Option

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.

Margin

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.

Spread

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

Equity

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

Leverage

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.

Margin Call

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.

Cut-out / Stop out

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%

Stop loss / Take profit

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.

Slippage

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.

Swaps

For MT4: When a client has an open position overnight (the trade is still open at midnight) he/she will either receive or pay a fee (swap fee) on the position. This is because every forex trade is transacted by borrowing one country’s currency to buy another and every day at midnight the transactions value date is rolled to the next day. If the interest rate on the currency the client buys is higher than the currency he/she sells (borrows) a fee will be paid to the client and vice versa.

For forwards: When a client wants to postpone his transaction’s value date to the next day or another day the client will swap his position and will either receive or pay interest on the position. If the interest rate on the currency the client buys is higher than the currency he/she sells (borrows) an interest will be paid to the client and vice versa.

Forward points

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

Swap points

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.

What is value date?

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.

For forward clients: It is the date when the forward matures and the client can either send the currency he/she has sold and receive the currency he/she has bought or just settle the profit or loss from the contract.

Handling of Orders

Will my order be executed at the rate I requested?

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.

Are there any restrictions for placing a stop loss/take profit?

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.

Do you allow scalping?

No.

Acceptable types of orders

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

Do I need to provide signed instruction for every outward payment?

There are two ways to authorise an outward payment:

Through the TFI Pay Online, in accordance to the access rights provided to authorised users.
By providing TFI Markets with instructions via Fax or Email. Instructions must include a verification code and signature(s) by authorised person(s). All instructions will be verified in accordance with the information provided during account opening. It is the client's responsibility to inform TFI Markets of any changes to the list of authorised signatories.

What Financial Instruments (FI) can I trade with you?

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.

How can I place an order?

TFI Pay (Payment Services) – You can place a pending order by calling TFI MARKETS Support/Treasury Dept. Pending orders can be accepted until 24:00 excluding weekends.

MT4 / Forwards – You can place a pending order either by calling TFI Treasury dept. until 24:00 excluding weekends or directly from your terminal choosing on the Trade field /Type/ Pending Order 24/5.

Can I keep a record for my transactions?

Yes. You can monitor all your Trades transcations online. Our Customer Support Department can assist you with this at all times.

Can I cancel a trade?

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

How can a forward/option help me mitigate 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.

How does leverage affect risk?

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

Can I lose more than the margin I have deposited?

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.

Can I lose more than the money I have deposited with you?

No. The Company offers negative balance protection.

Deposits / Withdrawals

Can you pay cash?

No.

Can I give you a cheque?

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.

I deposited a cheque to TFI Markets' Bank account. Why is my payment delayed?

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

Cheque deposits normally clear within 6 business days.

Can I deposit cash?

No. We do not accept cash deposits.

Can I withdraw funds to a different account than the account I deposited funds from?

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

TFI Pay & TFI Hedge Services
Pay clients have the option to do third party payments, provided that they will submit relevant supporting documentation for the specific payments that will be approved by the Compliance department.

How fast can I withdraw my money?

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

Where is my money kept?

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

What happens if the Company goes bankrupt?

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

Can you give me a guarantee for my money?

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
https://www.tfimarkets.com/legal/tfifx/

MetaTrader 4 Platform

What is MetaTrader 4?

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.

What are the MetaTrader 4 Operating System Requirements?

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 required | Instructions

Where can I download the TFI Markets MT4 Trading platform?

Our custom MT4 platform is always availabe in the "My Account" section.

You can find the links to this section on the website's footer area at the bottom.
To download the MT4 client, navigate to the "My Account "section, then click on "Download MT4 Platform".

My Account | Section

MT4 Platform Download | Section

iOS & Android Apps

Is MetaTrader 4 available for Smartphones or Tablet devices?

Yes.

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

MT4 Platform Download Section

Other

Do you accommodate any Special Requests?

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.

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 45% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read Full Disclaimer

The Company

Who is TFI Markets?

Who is your Regulators?

Payment Services

What is the TFI Pay Service?

What can I use the TFI Pay Service for?

Hedging Services

What is the TFI Hedge Service?

Who can be interested / benefit from TFI Hedge Service?

TFI Pay Online Portal

The TFI Pay Online Portal website layout does not look correct.

The TFI Pay Online Portal website is unresponsive and some functions do not work.

Opening / Managing Account

How fast can I open an Account?

Do you accept clients from any country?

How can I open an Account?

Are there any fees for opening or maintaining an Account?

When do I receive SWIFT confirmation?

Where can I find my statements?

Cost & Fees

What is the TFI Pay transfer fee?

Do you charge any commissions in addition to the TFI Pay transfer fee?

How do I estimate the TFI Pay transfer fee for my Foreign Exchange transaction?

Definitions

What is an order?

CFD

Forward

Option

Margin

Spread

Equity

Leverage

Margin Call

Cut-out / Stop out

Stop loss / Take profit

Slippage

Swaps

Forward points

Swap points

What is value date?

Handling of Orders

Will my order be executed at the rate I requested?

Are there any restrictions for placing a stop loss/take profit?

Do you allow scalping?

Acceptable types of orders

Do I need to provide signed instruction for every outward payment?

What Financial Instruments (FI) can I trade with you?

How can I place an order?

Can I keep a record for my transactions?

Can I cancel a trade?

Margin / Leverage / Risk

How can a forward/option help me mitigate risk?

How does leverage affect risk?

Can I lose more than the margin I have deposited?

Can I lose more than the money I have deposited with you?

Deposits / Withdrawals

Can you pay cash?

Can I give you a cheque?

I deposited a cheque to TFI Markets' Bank account. Why is my payment delayed?

Can I deposit cash?

Can I withdraw funds to a different account than the account I deposited funds from?

How fast can I withdraw my money?

Client Money / Funds

Where is my money kept?

What happens if the Company goes bankrupt?

Can you give me a guarantee for my money?

MetaTrader 4 Platform

What is MetaTrader 4?

What are the MetaTrader 4 Operating System Requirements?

Where can I download the TFI Markets MT4 Trading platform?

iOS & Android Apps

Is MetaTrader 4 available for Smartphones or Tablet devices?

Other

Do you accommodate any Special Requests?

TFI Markets Ltd

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