Help and FAQ.
Answers about applying, accounts, deposits, trading and regulation. If your question isn't here, email [email protected].
General
Who is OFinancial LLC?
OFinancial LLC is an investment dealer (Full Service Dealer, excluding Underwriting) licensed by the Financial Services Commission, Mauritius. When you open an account through this website, your client agreement is with OFinancial LLC.
What can I trade?
Contracts for difference (CFDs) on 1,000+ instruments: 60+ currency pairs, gold, silver, platinum and palladium, 13 stock indices, oil and natural gas, 850+ company shares and 70+ crypto pairs. A CFD lets you trade on a price going up or down. You don't own the asset itself.
Which trading platform do you use?
MetaTrader 5, on Windows, Mac, a web browser, iPhone and Android. The same login works on all of them.
Who can apply for an account?
Individuals, companies and trusts can apply. You need to be of legal age where you live and pass our identity checks. Opening an account is subject to our review of your application (client agreement, section 5.1). We can't accept residents of countries on our restricted list or anyone on a sanctions list.
Which language do you use?
English. The client agreement, notices and our replies are all in English.
Do I pay tax on my trading?
You are responsible for any tax on your trading where you live. We don't give tax advice.
Accounts
How do the accounts differ?
They differ in minimum deposit, how you pay for trades and maximum leverage. Cent and Classic charge no commission, so your cost is the spread. Premier and Elite have spreads from 0.0 pips plus a fixed commission. We confirm which account we can offer you as part of your application.
How does the Cent account work?
Your balance, trades and results are in US cents (USC). A $50 deposit shows as 5,000 USC, and trade sizes can be very small.
What leverage can I use?
Up to 1:1000 on Classic and Premier, and up to 1:500 on Cent and Elite. It can be lower on some markets and on larger positions, and we can change margin requirements at any time. Leverage makes losses bigger as well as gains.
Is there a fee if I don't use my account?
The client agreement allows a fee on accounts that aren't used. Ask us for the current fee before you leave an account unused.
Deposits and withdrawals
How do I deposit?
Once your account is open, you deposit from your client portal. The payment methods depend on your country. Pay from an account in your own name. Your bank or payment provider may charge its own fee.
How long do withdrawals take?
We process withdrawals within 1 to 3 business days of your request. Your bank or payment provider can take longer to pay the money in. Where possible, we pay it back to the method and account you paid in from.
Do withdrawals cost anything?
Your first four withdrawals each calendar month are free of our charges. After that, a fee may apply.
Can I withdraw while I have open trades?
You can ask to. We may allow you to withdraw money that isn't needed as margin for your open positions, subject to the minimum withdrawal amount (client agreement, sections 15(o) and 17.4).
How is client money held?
In segregated trust accounts with an approved bank, apart from OFinancial LLC's own money. Client money is pooled in these accounts, and it isn't covered by a compensation scheme.
Trading
When do I get a margin call?
Your margin level is your equity as a percentage of the margin your open trades need. Below 50%, we may issue a margin call, stop you opening new trades and start closing positions. At 20% or below, your positions are at immediate risk of being closed. We don't have to warn you first (client agreement, sections 15(e) and 15(f)).
Can my balance go below zero?
If a stop out leaves your balance below zero, the client agreement provides for it to be adjusted to zero (section 19.1). You can still lose all the money you deposited, and we may close the account afterwards (section 19.2).
Which order types can I use?
Market orders, and limit, stop and stop-limit orders that wait for a price. You can add a stop loss, a take profit or a trailing stop to a trade. A trailing stop only works while MetaTrader 5 is running on your computer.
Can I hedge?
Yes. You can hold a buy and a sell on the same instrument in the same account (client agreement, section 7.2). Both positions pay overnight funding until you close them.
Are any trading methods not allowed?
Yes. The client agreement lists activity that isn't allowed, including arbitrage, trading on price delays or system overload, scalping, using a VPS, VPN or TOR, running several accounts from one device or connection, copying trades, and letting another person or a program trade your account. Read the definition of Unauthorised Activity in section 1 of the agreement before you trade.
Regulation
Who regulates OFinancial LLC?
The Financial Services Commission, Mauritius, which licenses OFinancial LLC as an investment dealer. The licence and company details are on our regulation page.
Who is on the other side of my trade?
OFinancial LLC. We act as principal and are the counterparty to every trade you place, using our own prices, as our best execution policy explains. None of our products are traded on an exchange.
How do I make a complaint?
Email [email protected], write to us, or come to our principal place of business in office hours. Our compliance officer reviews every complaint. We aim to resolve complaints within 5 business days, depending on the issue, and normally within 30 business days. If a complex complaint will take longer, we tell you why. If you aren't satisfied, you can ask for it to go to our directors, and then take it to the Financial Services Commission, Mauritius.
Is my money covered by a compensation scheme?
No. Trading with OFinancial LLC isn't covered by a client compensation scheme.
Do you give investment advice?
No. We don't give personal investment advice. Everything on this website is general information, not a recommendation.
Apply for an account.
Complete a short application and our team will contact you with the next steps.
CFDs are leveraged products. You could lose all the money you deposit. They may not be suitable for everyone.
Please read the client agreement and risk disclosure before you apply.