Frequently Asked Questions
1. How much do I need to open an account with COESfx?
The minimum amount needed to establish an account with COESfx is five thousand US dollars.
2. How much leverage do I have with a COESfx Account?
You are leveraged at 50:1 So therefore $5,000.00 gives you $250,000.00 to trade with. As your current balance goes up or down your margin will be adjusted accordingly.
3. Does COESfx offer commission free trading?
No. The most you will pay is ten dollars per contract or lot of currency going each way. So you have a maximum of a twenty dollar roundtrip fee per contract or lot of currency traded. Volume discounts and rebates are available and are determined on a case by case basis.
4. Does COESfx offer mini accounts?
Yes. COESfx has White Labeled a third party trading platform specifically for trading mini accounts. For more information and to open a mini trading account please click here.
5. What currencies can I trade with COESfx?
At this time, 20 currency pairs and Spot Gold & Silver are available for trading, They are:
6. How come COESfx does not run a trading desk?
COESfx is an ECN or “Electronic Currency Network”. There simply is no need to run a trading desk. A trading desk is not there for the benefit of the trader. A trading desk will trade against you. A trading desk can see and pull your stops. A trading desk has the ability to lean on the market and widen the spreads. COESfx does not engage in any such activities making it truly transparent and unbiased.
7. Does COESfx offer charts with their Trading Platform?
Free Charts are available to all active traders doing 10 round turns per month. Please contact us should you wish to use or charts at 1-866-430-COES.
8. Will I have access to current and historical trades on my account?
Yes. Once you have opened an account with COESfx you can login into you account for current and historical account information at https://www.coesfx.com.
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9. Does COESfx guarantee no slippage?
No. There is no way for us to guarantee no slippage because the banks won’t guarantee unless we run a trading desk. We do not touch your orders.
10. What kind of spreads will I see on the COESfx platform?
1 to 2 pip spreads. Choice pricing and inverted pricing does occur occasionally during volatile trading sessions.
11. Does COESfx widen the spreads?
COESfx does not, under any circumstances adjust and or widens the spreads.
12. Will my stop loss orders get pulled?
Your Stop Loss orders never get pulled. Yours orders are held in an electronic book and is not seen by anyone. Stop Loss orders are usually pulled by a trading Desk. COESfx does NOT run a trading Desk.
13. Can I trade during market moving news?
Yes. With COESfx you have the freedom of trading before, during and after market moving news. We never, mysteriously, have our price feeds and or platform lock up.
14. Does COESfx re-quote the prices?
No. The COESfx platform acts as a flow through for pricing, therefore there is no request for quote. A process very similar to the EBS.
15. Can I buy and sell within the spreads?
Yes. While trading on the COESfx Platform, you are essentially working as a Market Maker with the ability to buy and sell within and outside of the spreads.
16. I am not a citizen of The United States of America, am I subject to NFA regulations?
Not Directly. COESfx was formed and is based in the United States of America and adheres strictly to NFA Regulations. COESfx, Inc. and or Spot FX Clearing Corp, at its sole discretion, reserves the right to terminate an account at any time for non compliance to the rules and regulations set forth by the NFA.
17. What is done to protect us from facing a margin call?
Our platform has built-in safe guards to protect traders from margin calls. If you are in a position at a loss, we will close that position once the trader has lost 80% of there current balance.
18. How is pricing derived on the Trading Platform?
Pricing in the system is derived directly from a number of partners on its network such as Banks, Futures Commission Merchants, (FCM’s), Introducing Brokers, (IB’S), fund managers, institutions and every participant on its ECN.