FREQUENTLY ASKED QUESTIONS

Transcription

1 FREQUENTLY ASKED QUESTIONS General Contact For New Account Application Queries and Issues For Live Account Queries, Issues and Trade Requests For Fund Transfers, Deposit or Withdrawal Queries - fundsandbanking@cmelitegroup.com For Technical Support and Issues with the Trading Platform technicalsupport@cmelitegroup.com For General Customer Service Questions clientservices@cmelitegroup.com General Questions 1. Q: Where is CMEG located? A: CMEG is an off-shore broker registered and based in Trinidad and Tobago, W.I. 2. Q: Is CMEG registered? A: CMEG is registered with the Trinidad and Tobago Securities and Exchange Commission. CMEG is also a registered Foreign Financial Institution (FFI) with the IRS. 3. Q: I am a US Person, can I sign up for an account with CMEG? A: CMEG only accepts account from clients who have not been directly or indirectly solicited. In compliance with SEC Rule 15a-6, CMEG does not accept accounts from persons who have been solicited directly or indirectly. 4. Q: Does CMEG report to the IRS on taxes? A: CMEG is FATCA compliant. In accordance with our Legal and Tax Reporting requirements, CMEG provides clients with the relevant W8/W9 forms for reporting purposes. 5. Q: Are my funds safe with CMEG? A: Yes, CMEG has partnered with U.S. clearing firms that are members of the Securities Investors Protection Corporation (SIPC). SIPC provides up to $500,000 of coverage, with a

2 limit of $250,000 for cash balances. In addition, our clearing firms are insured through London underwriters where Lloyd s of London Syndicates is the lead underwriter, to supplement SIPC protection. This combined protection would offer protection up to an additional $30M, with a cash sub-limit of $900,000. Please note that these measures do not protect against a decline or loss in market value of the securities in your online trading account. CMEG is also insured up to $1M - professional indemnity. Should anything happen to CMEG, as a method of recourse, clients can also file a report with the Trinidad and Tobago Securities and Exchange Commission. Account Opening 1. Q: I live in the U.S. Can I open an account with your brokerage? A: You may be eligible to open an account with us if you have not been solicited by us, either directly or indirectly, as indicated on our website. 2. Q: Would I be subject to the Pattern Day-Trading Rule if I trade with your brokerage? A: No. Since we are regulated outside the United States, that rule would not apply. 3. Q: What do I need to open an account? A: To meet CMEG s jurisdictional account opening requirements, clients are required to submit two (2) forms of government issued photo identification, one (1) document to represent proof of address and one (1) document to represent proof of income. 4. Q: What is the Traders Elite Pro Platform? A: The Traders Elite Pro Platform is our custom day trading platform. There are two (2) available options for interface. Clients can have the Traders Elite Pro Platform supported by DAS Trader Pro OR the Traders Elite Pro Platform supported by Sterling Trader Pro. 5. Q: What is the difference between the Standard and Active Trader Accounts? A: The Standard Accounts are designed for persons who wish to hold positions overnight or trade long-term. The Active Accounts are designed specifically for day-trading. 6. Q: What is the difference between the Traders Elite Terminal Platform and the Traders Elite Pro Platform? A: The Traders Elite Terminal is designed specifically for our Standard Account Type which facilitates medium to long term trading and is supported by our partners at Interactive Brokers. Due to legal and regulatory restrictions the Standard Account is not available to

3 residents and citizens of the US and Canada. The Traders Elite Pro Platform is designed specifically for our Active Account Type which facilitates active day trading. 7. Q: I completed the online application, when will I receive my account information? A: Application processing generally takes 3-5 business days provided all the documents submitted meet CMEG s requirements. 8. Q: When I sign up for the live day-trading platform, will I also have access to a demo? A: Yes. A fully functional simulator (demo) account is included with your subscription for the live trading platform (Traders Elite Pro). 9. Q: What is my username and password? A: Your username, password and all other relevant account details will be provided in your Account Approval confirmation notification, which will be sent via . Be sure to keep the for reference. 10. Q: When will I receive access to the live trading platform? A: Your account must be activated in order to receive market data and to trade. Accounts are automatically activated upon funding. An will be sent to notify you. 11. Q: Where do I go to download the platform? A: Your Account Approval notification contains the link to download the platform along with other important account details. 12. Q: How do I fund my account? A: Funding instructions are provided in your Account Approval . International Bank Transfer is currently the only option available for account funding. 13. Q: I wired funds, why don t I see them in my account? A: International wires can take 2-3 business days to arrive; this does not include bank holidays, public holidays or delays in processing at the sending or receiving bank. Upon receipt, your funds will be processed and deposited to your account. You will receive notification of the deposit and activation of your account.

4 Account Fees and Details 1. Q: What are the main charges associated with the Active Trading Account? A: The Active Trading Account is subscription based; it includes a monthly subscription of $115 for software access and $35 for market data. These charges are not pro-rated. 2. Q: When will I be charged software and market data fees? A: Your account will be billed from activation date and will be charged on the last day of the calendar month. Fees are not pro-rated. 3. Q: What if I do not want to start trading immediately or wish to take a break from trading? A: You can request to have your account suspended. Suspended accounts do not have access to the platform and do not incur software and market data fees. However, inactivity fees will still apply. 4. Q: What leverage is available to traders? A: Available leverage is based on the account balance at the end of the trading day: $500 or less 1:1 $500 to $2499 4:1 $2500 and over 6:1 5. Q: What are your commissions for active traders? A: Currently, our commissions are $2.95 for orders of less than 1000 shares. For orders of 1001 shares and over, commissions would be $0.007 per share. 6. Q: What is the percentage of margin interest for overnight trades? A: The following interest rates are based on the market value of the position at market close: $0 to $100, % APR $100, to $1,000, % APR $1,000, to $3,000, % APR $3,000, and above - 4.5% APR 7. Q: Do you use Interactive Brokers as your clearing firm? A: Yes, Interactive Brokers is currently one of our clearing firms

5 8. Q: Is there a number of trades that I can place to have my platform fee waived? A: If your monthly commissions are over $650, your platform fee will be waived for that month. Please note that you will be required to pay the applicable data fees. 9. Q: What is the minimum amount needed to open an Active Trader Account? A: The minimum amount needed to open an Active Trader Account is $ Q: Are your ECN fees comparable to other clearing firms in the industry? A: Yes. ECN fees would not be much different from what clearing firms generally charge. You may contact us if you would like more detailed information. 11. Q: What are your Maintenance Margin Requirements? A: Maintenance margin requirements vary based on the price of the stock. A detailed schedule is available on the Margin Policy Page in the Resource Section and on our website. 12. Q: Can I fund my account in any currency? A: The base currency for all accounts is USD; accounts can only be funded with US Dollars. 13. Q: How do I withdraw funds from my account? A: To withdraw funds from your trading account, you would need to submit the Wire Transfer Request Form, located in the Account Management Portal, under Resources. Approval generally takes three (3) business days. Please also allow an additional 3-7 business days for wire transfers to be credited to your account. 14. Q: I think I am locked out of the Traders Elite Pro Platform, how can I reset my account? A: Password resets must be security verified, please contact us via any of the below numbers to request a password reset. Please note that these numbers are not toll free. Trinidad: (868) (868) International: (212) (212) (212) Traders Elite Pro Platform (supported by DAS) and Account Management

6 1. Q: Do you allow pre and post market trading? A: Yes, pre-market trading begins at 7:30 am EST and post-market trading ends at 5:30 pm EST. 2. Q: I currently use DAS Trader. Is your Traders Elite Pro comparable to DAS? A: Yes. You can request to the Traders Elite Pro Platform supported by DAS Trader Pro. 3. Q: Can I install Traders Elite Pro supported by DAS on a MAC? A: Traders Elite Pro supported by DAS is intended for use in a Windows environment. Use of the platform on a Mac OS is at the user s own risk. Support is provided on our platform usage. We do not provide support on Windows or Mac general usage. 4. Q: Does your platform allow the following? 1) Risk management, including maximum loss per account (if the maximum loss is reached, the account would be disabled), 2) Limitation of additional orders once maximum position size has been reached. A: Yes. All of the account management functionality provided by the DAS Trader would be available. 5. Q: How do I trade in my simulator account? A: On the Montage window, there is a drop-down box to the bottom right. By c,icking this drop-down, you can select and switch between both your live and simulator accounts. 6. Q: Is there a way to check shortable stocks through the platform? A: To check shortable stocks on the platform, you can go to the "Trade" menu and select "Short List". You can enter the stock symbol to search for stocks you want to short. The Montage window would also indicate a shortable stock by an S under the anchor icon. 7. Q: Does CMEG cover/recover any loss/gain from a technical issue on the platform? A: CMEG does not share in clients' profits or losses that occur as a result of the software provided by third-party suppliers. Please view disclaimers in the Legal section of our website for more information. 8. Q: I tried to login to the platform, it says Wong Trader A: The username you have entered does not exist. Please ensure you are entering the username provided in your Account Approval with no typos. If it is definitely correct, make sure you are connecting to the right server or version of the.

7 9. Q: I tried to login to the platform, it says Cannot connect to OrderServer A: Cannot connect to OrderServer is usually an Internet Issue, please ensure that you have a stable internet connection. The platform will continue to try to reconnect until a connection is secured. There are 2 ISPs that client can use to connect to the platform. Below you will find steps to switch ISPs to connect. If you have changed the order of the network and still have network issues and an outage has not been reported then it means the issue is your internet connection and beyond our platform providers. Please note that it is important that the client maintain both networks in his setting at all times for redundancy. Steps #1. Click Setup then Network. #2. Select another ISP that can connect to us #3. Click to Move Up #4. Click Commit 10. Q: Is there a mobile version I can use? A: Yes, the Traders Elite Pro Platform supported by DAS uses the Das Trader App for mobile access. You can use the Firm details below to gain access. Firm ID: ETFA Order IP: etfa.dastrader.net or etfa.dastrader.org Order Port: Q: How can I access a record of my trade history? A: In the Report section of the Account Management Portal you can run various trade performance reports. 12. Q: How can I reach CMEG in a trade emergency? A: For urgent trade requests, you can brokerage@cmelitegroup.com. If you require a broker-assisted trade, please provide clear instructions with specific trade execution details. We can also be reached directly at (868) or (868) or (212)