FAQ

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  • How to apply a live account?

    "In accordance with the SCB Anti-Money Laundering and Counter Terrorism Financing Act 2006 we are required to verify your identity prior to opening a trading account. To open a live account with us, you must provide the following materials:
    Proof of identity:
    A national identity card(front and back)/A passport containing personal details and a signature/ driver's license home page and secondary page.
    All documents must show clear full name, date of birth, ID number and effective and valid period.
    Proof of residential address:
    A national identity card(front and back)/ A household registration with householder information and personal information / driver's license home page and secondary page/ Utility bill such as electricity, water, sewerage (not older than 3 months), telephone bill (mobile phone bills are not accepted) / Bank statement. The photograph on above documents must be a clear likeness and of good quality.
    Citizens in mainland China and Taiwan can provide the national ID card to confirm your identity and residential address; Citizens in other countries are required to provide different documents to prove their identity and residential address.
    Mobile Number
    Email Address
    Once you have prepared these materials, please click ""OPEN LIVE ACCOUNT"" and then submit your application. Once your application is approved, GeminiCap two separated emails to your email address, including the Login and password of trading account and the CRM System. After receiving the emails, please keep your account password to prevent the password leak. You can also change your password via trading platform or CRM. Please always keep your account password and avoid revealing your password."
  • How to apply a demo account?

    Click "OPEN DEMO ACCOUNT" on our home page and fill the application form. We will send an email with your demo account login. You can also create a new demo account in MT4 terminal. Click "Open an Account" in the "File" menu and follow the instruction to create a demo account.
  • Is Demo Account the same as Live account?

    Although Demo and Live accounts have the same pricing, their trading enviorments are different. Since the orders in Demo accounts will not enter the real market, its execution is different to live account. Demo accounts can help traders to get familiar with trading platform, but please bear in mind that the trading experience may not be the same as live account.
  • What is the minimum deposit amount?

    To open a live account with us, you have to deposit more than 500 USD.
  • How many live accounts can be opened for one client?

    GeminiCap can only allow client to open no more than 5 accounts under same name.
  • What is the fee for deposit and withdrawal?

    GeminiCap now provides transaction fee free for the clients who deposit online;
    GeminiCap will also waive the bank transfer fee for the withdrawal which amount is more than 200 USD. However, the withdrawals which amount is less than 200 USD will attract a , 10 USD bank transfer fee. If the client chooses the deposit and withdraw by telegraphic transfers, the fund may take about 3~5 working days;
    Clients are required to calculate the withdrawal amount carefully, to avoid negative impact on the account with open positions. Clients shall be aware that margin calls may be caused by withdrawals, any losses suffered as results will be the liability of the client.
  • How long my account will be archived without trading?

    GeminiCap will retain accounts for one year. Account without trading for one year and equity below 20 USD will be archived.
  • Will my demo account expire?

    Yes, the default life time for a demo account is 30 days.
  • How do I apply for withdrawal?

    In the case of withdrawal, you can log into Business Cente and fill in application form for withdrawal. After log in, you choose the option of "Withdrawal Management", choose "withdrawal", then fill in the information including your own account and bank account, and submit. in the current day, and the withdrawal can be received in your bank account within about one working day after the application for withdrawal is submitted.
  • How to check Swap for each products?

    You can check GeminiCap swap simply on MT4 terminal. In "Market Watch" section, choose and right click the symbol you want to check. Then you can see "Specification" in the menu. Click it then you can see the updated swap rate for long and short postions at "Swap Long" and "Swap Short".
  • What is Margin? How to calculate my margin?

    "An investor must first deposit money into the margin account before a trade can be placed. The amount that needs to be deposited to the open positions is called as "Margin" in MT4 Platform. Unlike the fixed-margin method, GeminiCap use floating method, in which the margin amount required is related to the product price. The margin for an open position will vary and depend on the open price of the order and leverage for that product, while GeminiCap provides up to 1:500 leverage to your clients.
    The used margin is calculated in base currency (which also equal to price* quote currency) and then transformed into USD by real time exchange rate. Free margin is the fund left for new positions. If your free margin is lower than the required margin level of the order you want to open, the order will not be processed.
    The margin level can be calculated as follows.
    Margin = Number of lots * Contract Size * Market Price / Leverage
    For example, if you want to open 0.1 lot of EUR / USD pair (current price at 1.35645 and 1 Lots contract is equal to 100,000 unit). The Leverage of the account is 500 times. Therefore, your margin is calculated as (0.1x 100,000x 1.35645) / 500 = $ 27.13
    In this case, the margin required is 33.91 USD. So the free margin in your account shall be more than 33.91 USD to open that position.
    If you want to long 1 lot USD/JPY at 99.80, then the required margin will be:
    1 lot * 100,000 contract size. * Contract price * / Market price / 100 Leverage = USD 1000
    Or if you want to short 1 lot of USD/CHF at 0.9460, then the margin will be 1,000 USD as well.
    In a case of crosses pair, if client A wants to short 2 lots of AUD/JPY at 102.20, and AUD/USD is at 1.0304, the margin should be:
    2 Lots * 100,000 Contract Size * 1.0304 Market Price / Leverage = 2,060.8 USD
    Note: the used margin is subject to change due to the market price of AUD/USD.
    If client A wants to short 5 lots of EUR/GBP at 0.8520, and EUR/USD is at 1.3048, the margin should be:
    5 Lots * 100,000 (Contract Size) * 1.3048 (Market Price) / 100 (Leverage) = 6,524 (USD)
    Note: the used margin is subject to change due to the market price of EUR/USD.
    Finally, the method can also be used in margin calculation of gold and silver products. For example, if client A wants to short 1 lots of Gold at 1440 USD, the margin should be:
    1 Lots * 100 (Contract Size) * 1440 (Market Price) / 100 (Leverage) = 1440.00 (USD)
    GeminiCap has modified our leverage policy to help traders effectively control their risk on Forex and Precious Metals. The margin policy of other CFD contracts remain the same. Please be noted that with leveraged forex trading, risk management becomes key."
  • How much is the leverage?

    GeminiCap provides flexible leverage poilcy, from 100 to 500 times, to meet different clients' needs. Clients can apply for leverage change at CRM. The leverage policy are listed as below:
    Conditions for leverages;
    Leverage Minimum Deposit Maximum Deposit
    1:500 500$ 10,000$
    1:400 500$ 50,000$
    1:300 500$ 100,000$
    1:200 500$ 250,000$
    1:100 500$ >250,000$
  • What is Stop Out?

    The margin call level in GeminiCap is 120%. When the margin level reaches this level, the open position will not be closed, but there will be an alert in MT4. When the margin level drops below 100%, system will automatically start to close the open positions, starting from the order with largest floating loss. The system will not close all position together, but one order by one order. Once the margin level rises above 100%, the stop-out will cease until the level falls below 100% again.
    Margin Level Formula is:
    Margin Level = Equity / Used Margin x 100%
  • How many products does GeminiCap provide?

    GeminiCap provides 36 pairs of currency; 6 commodity products including gold, silver, copper, natural gas, and oil (both future and spot product); and 12 indices CFD. More trading products will be available soon.
  • What is the minimum and maximum trading size?

    The minimum and maximum trading size in GeminiCap is:
    Minimum Lot per order Maximum Lot per order
    Forex 0.01Lot 40Lot
    XAUUSD 0.01Lot 20Lot
    XAGUSD 0.01Lot 20Lot
    CL-OIL 0.01Lot 20Lot
    USOUSD 0.01Lot 20Lot
    COPPER 0.01Lot 10Lot
    GAS 0.01Lot 10Lot
    CHINA50 1Lot 20Lot
    DAX30 1Lot 125Lot
    DJ30 1Lot 125Lot
    FTSE100 1Lot 125Lot
    HSI 1Lot 125Lot
    SP500 1Lot 125Lot
    SPI200 1Lot 125Lot
    Nikkei225 50Lot 10000Lot
    FRA40 1Lot 125Lot
    NAS100 1Lot 125Lot
    USDX 1Lot 125Lot
    VIX 1Lot 125Lot
  • How the product specifications of GeminiCap are set

    Forex
    Product Contract
    Unit
    Distance (pending order) Max
    Leverage
    MT4 Time
    Forex 100,000 20 1:500 Monday 00:05-23:59
    Tuesday to Thursday 00:01-23:59
    Friday 00:01-23:55
    Commodity
    Product Contract
    Unit
    Distance
    (pending order)
    Leverage MT4 Time
    XAU/USD 100 20 Fixed 1:200 Monday 01:05-23:59
    Tuesday to Thursday 01:00-23:59
    Friday 01:00-23:55
    XAG/USD 5,000 1 1:200 Monday 01:05-23:59
    Tuesday to Thursday 01:00-23:59
    Friday 01:00-23:55
    CL-OIL 1,000 50 STD&VIP 1:400
    ECN 1:100
    Monday 01:05-24:00
    Tuesday to Thursday 01:00-24:00
    Friday 01:00-23:40
    USO/USD 1,000 50 max 400 Monday 01:05-24:00
    Tuesday to Thursday 01:00-24:00
    Friday 01:00-23:55
    GAS-C 42,000 / 1:20 Monday 01:05-24:00
    Tuesday to Thursday 01:00-24:00
    Friday 01:00-23:55
    Copper-C 25,000 / 1:20 Monday 01:05-24:00
    Tuesday to Thursday 01:00-24:00
    Friday 01:00-23:55
    Indices
    Product Contract
    Unit
    Distance (pending order) Fixed
    Leverage
    MT4 Time
    DAX30 1 500 1:100 Monday 09:05-23:00
    Tuesday to Thursday 09:00-23:00
    Friday 09:00-22:55
    FTSE100 1 500 1:200 Monday 09:05-23:00
    Tuesday to Thursday 09:00-23:00
    Friday 09:00-22:55
    FRA40 1 500 1:100 Monday 09:05-23:00
    Tuesday to Thursday 09:00-23:00
    Friday 09:00-22:55
    SP500 10 200 1:200 Monday 01:05-23:15;23:30-24:00
    Tuesday to Thursday 01:00-23:15 ;23:30-24:00
    Friday 01:00-23:10
    SPI200 10 500 1:200 Monday 00:55-07:30 ;08:10-23:00
    Tuesday to Thursday 00:50-07:30 ;08:10-23:00
    Friday 00:50-07:30 ;08:10-22:55
    DJ30 1 500 1:200 Monday 01:05-23:15 ;23:30-24:00
    Tuesday to Thursday 01:00-23:15 ;23:30-24:00
    Friday 01:00-23:10
    HSI 1 5 1:100 Monday 03:20-06:00 ;07:00-10:30 ;11:15-19:00
    Tuesday to Thursday 03:15-06:00 ;07:00-10:30 ;11:15-19:00
    Friday 03:15-06:00 ;07:00-10:30 ;11:15-18:55
    CHINA50 1 5 1:20 Monday 03:05-10:30 ;11:00-21:00
    Tuesday to Thursday 03:00-10:30 ;11:00-21:00
    Friday 03:00-10:30 ;11:00-20:55
    USDX 100 / 1:100 Monday 01:05-24:00
    Tuesday to Thursday 03:00-24:00
    Friday 03:00-23:55
    VIX 1000 10 1:100 Monday 01:05-23:15 ;23:30-24:00
    Tuesday to Thursday 01:00-23:15 ;23:30-24:00
    Friday 01:00-23:15 ;23:30-23:55
    NAS100 1 400 $25/lot Monday 01:05-23:15 ;23:30-24:00
    Tuesday to Thursday 01:00-23:15 ;23:30-24:00
    Friday 01:00-23:15 ;23:30-23:55
    Nikkei225 1 1000 1:200 Monday 01:05-23:15
    Tuesday to Thursday 01:00-23:15
    Friday 01:00-23:10
  • What is Spread?

     An exchange rate, applied to a customer willing to purchase a quote currency is called BID. It is the highest price that a currency pair will be bought. And a price of quote currency selling is called ASK. It's the lowest price that a currency pair will be offered for sale. BID is always lower than ASK. The difference between ASK and BID is called spread. It represents brokerage service costs and replaces transactions fees. 
  • Can I trade with GeminiCap by phone if I have problem on trading?

    GeminiCap provides 24/5 trading service. If you have problem during the trading, you can always call our official hotline. However, we only can only help you to modify or close open positions, but not including new order opening.
  • What is slippage?

    Slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed.

    What Causes Slippage?

    There are three reasons for slippage:
    1)Network delay.
    (STP-ECN) Orders from the client terminal (computer or mobile phone) need to go through multiple servers to enter the last completed ECN data center, the time required to go through this period depends on the physical distance between the trader and the ECN data center. The global ECN data center is mainly concentrated in London, New York, and Tokyo. If you are trading in mainland China, you need to consider the impact of the firewall. The server link that you need to go through will be more complicated than most countries. The time spent on a single transaction is about 200-600 milliseconds. The ECN data center quotes are rapidly changing at a rate of milliseconds. When an order is triggered from the trader's computer and reaches the ECN data center after 300 milliseconds, the price may have changed, and the final transaction price may get better or worse. If the trading location is in the same building as the ECN data center, this delay can be neglected. Some high-frequency trading institutions in the world often set up trading centers close to the data center. If the market is small, the price changes slowly even almost no impact. If it is just a major data release, non-agricultural price changes will occur dozens of points or even hundreds of points.

    2)Market Depth.
    The quotation of ECN data center has different market depth at different times. Whenever there is an imbalance of buyers, sellers, prices and trade volumes, prices will need to shift, and trade orders will need to be adjusted to the next available price. A so-called slippage situation occurs. For example, When the customer sells 1.1 M at 1.06852, the transaction will be made at 1.06852, but if the customer sells 3.7 M at 1.06852, the price of 1.2 M + 1 M + 1.5 M will be weighted and averaged, and the transaction price (1.2 * 1.06852 + 1.06851 + 1.5 * 1.06849) / 3.7 = 1.068505. Since the MT4 platform does not provide a deep view, there will be what the customer thinks of as a Slippage in this case.


    3)Pending order execution mechanism
    The slippage most often occurs in the moment of the pending order execution (including stop-loss and take-profit) and it is also where the primary trader gives the most feedback. Here are three sentences + an example to illustrate the problem: Pending order execution mechanism: When the price reaches or exceeds the price of the pending order - --- order triggered (triggered, not completed) - - the order can be sold after the trigger price. Therefore, the market trend after triggering determines the execution price. Usually in a favorable situation, orders are traded at a more favorable price, and in a negative situation orders are traded at a more unfavorable price. Therefore, take-profit order is higher probability to make money whereas stop-loss order tend to lose money.

    For example: The long XAUUSD order is entered at 1211.45 with take profit at 1220. If there are sell limit orders on the order book at 1219.6, 1219.8 and 1220.1 and 1219.5 respectively, the take profit order will turn to market order once there is order with price higher than 1220 (1220.1). And this market order will be executed at the next available price at 1219.5. If the next available offer after 1220.10 is 1222, the order will most likely close to 1222.00.

    Slippage is inevitable and it's hard to predict the range. Therefore, GeminiCap won't take responsibility for any results caused by the market slippage.
  • How to minimize the negative impact of slippage?

    First of all, slippage cannot be avoided and the range of the slippage cannot be foreseen. In the real market, we cannot forecast the market movement and thus cannot provide slippage range. The chances of slippage may be reduced by following methods: using limit orders to lower the possibility of slippage; Avoid trading with heavy positions, and always remains enough free margin in account in case of extreme market movement; GeminiCap urges our client to read the risk disclosure beyond before trading.
  • What is price gap?

    Gaps are areas on a chart where the price of market moves sharply up or down with little or no trading in between. As a result, the asset's chart shows a "gap" in the normal price pattern.

    There are many potential reasons for this kind of event. Generally, a gap will occur, when the day open price is significantly different with previous close; or when the market liquidity is extremely low and price is moving at a large scale; or there is an economic or political event released. Moreover, we'd like to suggest clients try to avoid or minimize the open positions before any political event or news before the weekend, and realize that a gap after is highly possible. We also provide some examples of pending orders and TP/SL during the extreme market movements with thin liquidity.
    Case 1: Take Profit
    Long position with take profit, which is a sell limit order.
    Limit Order:Client longs 1 lot of XAUSUD at market price 1375.16. Meanwhile, the client sets a take profit order at 1376.90.
    Execution:after the client set the Take Profit order, market price did not reach 1376.90. However the market price suddenly jumped and a gap occurred, the ask price jumped through 1376.90 to 1377.34. The take profit order was triggered and filled at 1377.34, making 44 USD extra profit, comparing with the preset limit price1376.90.
    Order Type Volume Symbol Lot Commodities Enter Price Sell Limit Filled Price
    Buy 1 XAUUSD 1375.16 1376.90 1377.34

    Sell position closed by stop loss, which is a buy stop order.
    Limit Order:Client shorts 1 lot of XAUSUD at market price 1430.23. Meanwhile, the client sets a stop loss order at 1432.83. Execution:after the client set the Stop Loss order, market price did not reach 1432.83. However the market price suddenly jumped and a gap occurred, the ask price jumped through 1432.83 to 1433.02. The stop loss order was triggered and filled at 1433.02, making 19 USD extra loss, comparing with the preset stop price1432.83.
    Order Type Volume Symbol Lot Commodities Enter Price Sell Stop Filled Price
    Buy 1 XAUUSD 1430.23 1432.83 1433.02

    Case 3:Open a position by buy limit
    Open a new position by buy limit.
    Limit Order:Client enters a Buy Limit order of 1 lot EUR/USD at 1.3180.
    Execution:after the client set the buy limit order, market price did not reach 1.3180. However the market price suddenly slumped and a gap occurred, the bid price fell through 1.3180 to 1.3173,The buy limit order was triggered and filled at 1.3173, making 70 USD extra profit, comparing with the preset limit price.
    Order Type Volume Symbol Lot Commodities Enter Price Filled Price
    Buy Limit 1 EURUSD 1.3180 1.3173

    Case 4:Open a position by Sell Stop
    Open a new position by Sell Stop.
    Stop Order:Client enters a Sell Stop order of 1 lot GBP/USD at 1.6420.
    Execution:after the client set the Sell Stop order, market price did not reach 1.6420. However the market price suddenly slumped and a gap occurred, the ask price fell through 1.6420 to 1.6418,The Sell Stop order was triggered and filled at 1.6418, making 20 USD less profit, comparing with the preset Stop price.
    Order Type Volume Symbol Lot Commodities Enter Price Filled Price
    Sell Stop 1 GBPUSD 1.6420 1.6418

    Any orders (including Take Profit, Stop Loss, Pending Order) may be affected by market movements and gaps and cannot be executed by the best price. In this case, the order will be executed at the next best market price. The range of slippage depends on the liquidity of both side of buyers and sellers in the market. The ECN automatically matches and executes the orders requested, which are filled at the best available prices.
    A gap may happen at:
    a. Important economic data release like NFP;
    b. Unexpected economic data release;
    c. News release about monetary and fiscal policy;
    d. Important officials' speech;
    e. A sudden surge of trading orders on a single product in the market.
    The impact of a price gap:
    1. during a price gap, the execution of Take Profit, Stop Loss, market orders or Pending Orders will all be affected. The orders will be executed at the next best available price from the underlying market. As a result, we cannot foresee how much is the impact.
    2. Slippage will occur.
    3.The equity of the account may turn to negative after the stop out due to the slippage.
    Disclaimer: Since price gaps are normal market event, GeminiCap strongly recommend clients to read risk disclaimer and to understand the real market movement before trading. GeminiCap will not carry responsibility or reimburse of slippage and stop-outs which is caused by extreme price move of real market.
  • Why the spread will increase?

    As an ECN broker, GeminiCap provides floating spread prices to our clients. Clients can check the normal level of each products. However, in some special cases, the spread of some products may become higher than normal level, as called as "Widen Spread".
    during the data release or news, Forex and Precious Metals spreads may widen. Also, the indices may widen their spread after the normal trading time. Before explaining the reason of widen spread, we need to mention ECN execution.
    The process of order execution in ECN Platform is:
    Client places the order-->Request send to broker-->order executed by interbank market
    It is worth noting that the best bid and ask price may can from different banks, so as the execution. So how the price feed is generated is illustrated as below

    In the interbank market, banks provide their own pricing on each product at the same time. The broker will aggregate the price feed and choose the best bid and ask price from the market and provide it to clients, so that the clients' interest will be optimized.
    E.g. for EUR/USD
    Citi Bank Pricing: Ask: 1.32035 Bid: 1.32010
    HSBC Pricing: Ask: 1.32033 Bid: 1.32011
    NAB Pricing: Ask: 1.32036 Bid: 1.32013
    …………….
    …………….
    this prices will be aggregated to the interbank market and sent to the ECN network.
    From the price feeds of 50+ global top-tier banks,GeminiCap will filter the best price, which in this case is 1.32033 (ask from HSBC), and 1.32013 (bid from NAB),so the client can see the price feed of 1.32033/1.32013. when the liquidity of the market is abundant, clients can get lower trading costs.
    Then why will the spread widen?
    During the periods of risk event or around market open and close, banks tend to cease the price feed and trading, as a method of risk management. As a result, when the liquidity of the market shrinks and only some banks provides the pricing, the spreads from GeminiCap may widen.
    the situation may happen at:
    a. five minutes around the Friday close and Monday open;
    b. Important economic data or big news release.
    The impact of a widened spread:
    1. Stop-outs; if the free margin in account is not enough, a widen spread may push the margin level below 100% and trigger the stop out. Slippage will occur during the execution.
    2. the execution of buy and sell orders are different; as the difference between bid and ask price widens, the execution prices for each side will be significantly different as well.
    GeminiCap kindly remind clients who have locked open positions to remain enough level of the free margin in case the margin level falls below 100% and trigger the stop-out.
    Disclaimer: Since widen spread of pricing are normal market event, GeminiCap strongly recommend clients to read risk disclaimer and to understand the real market movement before trading. GeminiCap will not carry responsibility or reimburse of slippage and stop-outs which is caused by extreme price move of real market.
  • Can I trade during the off-market time?

    During the market close, all trading activities cease. Clients cannot trade during the peroid either.
  • Does locked position still require margin?

    In GeminiCap, locked positions will not require any margin.
  • Why do I get charged a higher swap rate on FX positions on a Wednesday?

    This is because a swap involves pushing back the value date on the underlying futures contract and on Wednesday this date changes from Friday to Monday. Swap is therefore charged for the extra 2 weekend days.
  • What is the maximum NOP (Net Open Position)?

    GeminiCap may tailor the leverage policy based on account's net open position.
  • How long can I keep my positions open for?

    You can keep your positions open for an indefinite period of time, as long as there is enough margin in your account.
  • How are CFD product prices calculated?

    The CFD product prices in GeminiCap are calculated based on underlying products and after the adjustment of interest rate and dividend.
  • About Deposit

    1. Clients need to bear the costs which is not caused by GeminiCap, such as refund fee or transaction fee charged by the banks;
    2. The minimum deposit via bank card account is 500 USD. The deposit will show in your account within 3 hours;
    3. We do not accept transferred funds from third party. The name of your bank account/card should be the same as your account with us. If your bank account is a joint account which you are a party of it, we can accept your deposit from that joint account;
    4. We do not accept Credit Card deposit;
    5. We strictly follow International AML Law to protect your fund security. The information that you sent to GeminiCap will be protected by data encryption. We will not share any of your personal information with third party without your permission.
  • About Withdrawal

    1. Clients should ensure there is enough margin in the account before applying for a withdrawal;
    2. Clients should ensure all the information filled in the application form is correct before the application is sent. Any rejection or extra fee by banks caused by wrong information provided by the client should be on client's side;
    3. GeminiCap will charge 10 USD fee for the withdrawal below 200 USD since 2017/8/7. The fee is waived if the amount is above 200 USD.
    4. Once GeminiCap processes the withdrawal, the fund will arrive client's account in 1-3 working days;
    5. We strictly follow International AML Law to protect your fund security. The information that you sent to GeminiCap will be protected by data encryption. We will not share any of your personal information with third party without your permission.

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