Forex Trading

How to Open your account

To facilitate the opening of the trading account with Banco Modal you can do the following:

Submitting the online application OR

Downloading and send their documents.

The rules of KYC (Know Your Customer) undertake to obtain all information necessary to guarantee the most appropriate service, therefore we invite you to make sure that all sections of the model are completed.

Account Classification Trust Standard Trust Plus
Platform MetaTrader 4 MetaTrader 4
Advantages Leverage up to 1:400

Fully automated, market execution and mobile trading
No requote

Leverage 1:100

Fully automated, instant execution and mobile trading
Fixed spread

Spreads Floating Fixed
Maximum Leverage Leverage up to 1:400 FX Only * Leverage 1:100
No dealer intervention; automated execution Yes**** Yes****
Direct market access with no trading restrictions Yes**** Yes****
Trading Execution Market Execution Instant Execution
Stop Out Level Automated at 10% Equity/Margin Ratio Automated at 10% Equity/Margin Ratio
Margin Requirements Contact us for more info Contact us for more info
Spot Forex Yes Yes
Spot Metals Yes Yes
CFD Energy Futures Yes Yes
CFD Index Futures Yes Yes
CFD Financial Futures Yes Yes
CFD Commodity Futures Yes Yes
CFD Precious Metals Futures Yes Yes
Minimum Lot Size 0.10 of a Standard Lot 0.10 of a Standard Lot
Maximum open position No Limit No Limit
Charts & Platforms Yes Yes
Research Reports Yes Yes
Telephone trading Yes Yes
Account currency USD USD

* 1:400 leverage – Maximum equity not to exceed $2,000

** 1:200 leverage - Maximum equity not to exceed $6,000

***No dealer intervention; automated execution

****Direct market access with no trading restrictions

*****All Trades are fully automated during normal trading conditions

In order to fund your account, you must first register in the Client Area. The registration process is quick and simple.

Once you are in the Client Area, you can choose from a variety of payment methods to fund your account such as Credit Card, Western Union, Cheque Deposit or Wire Transfer to one of our selected bank accounts that are segregated for client funds.

Credit Card

Banco Modal does not charge any fees for account funding via credit or debit cards, however the commission of credit cards payment gateway (3% of the transaction amount) will apply. This commission will be deducted from the amount selected by you to be transferred to your account. Should clients want to use a card having a base currency other than USD, EUR, CHF or GBP, an additional conversion fee may apply.

Western Union


You can fund your Banco Modal account through any of the 900 OMT locations across Cayman. To locate your nearest OMT Location, kindly contact 01 391 000.

Cheque Deposit

Bank Transfer

NOTE: Please note that Banco Modal will not accept third party or anonymous payments. You can deposit and withdraw funds from a bank account or credit/debit card registered in your name only. Kindly note Banco Modal "cash" payments regardless of the amount are not acceptable. All deposits and withdrawals have to be done via the above methods only.

Payments will be refunded by the original payment method only. Payment methods include Credit Card, Western Union, Cheque or wire transfer.

How can I withdraw funds from my account?

Please contact our Customer Support team by email or telephone should you require assistance. One of our professional representatives will assist you in the first stages of withdrawing funds from your account.

How long does it take to withdraw money from my account?

Withdrawals are usually processed by Banco Modal within one working day. When withdrawing via bank transfer, the process may take up to 5 working days due to delays from the processing banks and intermediaries.

Method Description Withdraw
Credit/Debit Card Visa You may withdraw the full amount of your investment using the same credit card per which you originally deposited the funds. Profits accumulated on your trading account however must be withdrawn through other withdrawal methods, keeping in mind that no third party transfers are allowed.
Bank Wire Wire from bank account Withdrawals made by Bank Wire Transfer usually take 3-5 working days to reach your account.
Western Union Western Union Withdrawals made via Western Union are usually processed within 10 minutes during office hours.
Cheque Cheque Withdrawals made by Cheque are usually payable to the account holder within one business day.
Trading FAQ's

1. When is the Forex market open for trading?

The Forex market opens 24 hours for 5 days a week from Monday through Friday. The trading day begins in Sydney and continues as each financial center opens; Tokyo follows then London and finally New York.

2. How much money is required to open a position?

The minimum contract size that you can trade is 0.10 of a standard lot which requires a $100 margin requirement for most of the instruments. Other products might require higher margins. For full details, please see our contract specifications for the required margins on all our products.

3. How many accounts can I open as a client?

We do not have any limits on how many accounts a client may have but usually two is more than sufficient for any client.

4. Can I trade on more than one account at the same time?

A client may trade on more than one account at the same time if indeed he/she has more than one account under the same name.

5. What products does Banco Modal offer?

Banco Modal offers a wide range of products on its trading platform such as Spot foreign exchange, Spot gold and silver, Commodity CFDs, Energy CFDs, and Index CFDs. Banco Modal also offers stocks from most global markets. Banco Modal SAL is committed to constantly revising its product offering in order to add new instruments.

6. What is the pip spread for major and cross currencies?

Pip spreads vary depending on the instrument. EURUSD and USDJPY can go as low as 1.6 pips. In general, all variable spreads on both major currency pairs and cross currency pairs are very tight and extremely competitive. For full details on our floating and fixed spreads, please see our contract specifications.

7. What is the spread on GOLD?

Banco Modal offers tight spreads as low as 50 cents on Gold. As for the Gold CFD Futures, the spread is normally 20 cents.

8. What is the leverage offered?

1:100 for all accounts.

1:200 on Trust Standard accounts that do not exceed US$ 6,000 equity.

1:400 on Trust Standard Accounts that do not exceed US$ 2,000 equity.

9. Is scalping allowed?

Banco Modal allows scalping on Trust Standard Accounts where slippage may occur.

10. Do you allow hedging?

Yes, Banco Modal allows hedging without any restrictions.

11. Do you offer bank guarantees?

Banco Modal SAL does not offer bank guarantees because it is a regulated entity and keeps all deposits in segregated accounts.

12. Does Banco Modal have overnight swaps or interest rates on position?

Banco Modal does not charge swaps or interest on positions kept overnight provided the accounts are frequently traded accounts.

13. Can I use Expert Advisors?

Yes, Banco Modal offers its clients the opportunity to trade using EA's, please refer to Banco Modal Terms & Conditions to read more.

14. How do I uninstall MetaTrader4?

From the Start Menu, select 'Control Panel'.

Double-click on 'Add or Remove Programs'.

Locate the Banco Modal MetaTrader4, chose to uninstall and the MetaTrader4 will be uninstalled from your computer.

15. How do I switch between my MetaTrader4 practice account and my live trading account?

Open Banco Modal MetaTrader4 Client platform.

Click on 'File' from the top navigation bar, and select 'Login'.

Type your MetaTrader4 user name and password.

From the 'Server' field chose your desired server.

To save the login details, check the 'Save Information' box.

16. How do I change my master/investor password?

Open your Finance Bank MetaTrader4 Client platform.

Click on 'Tools' from the top navigation bar, select 'Options', then click on 'Change' beside the password field.

A new window will open to change your password, enter your current password and the new password. Confirm the new password and Click 'OK'.

17. What is Balance/Equity/Margin/Free Margin/ Margin Percentage?

Balance is the total financial result of all completed transactions, including deposit and withdrawal operations on the trading account.

Equity is the balance plus or minus the floating profit or loss.

Margin is the amount of funds required and being held (margin requirement) for the open trades.

Free Margin is the equity less the margin held on the open trades.

Margin Percentage Level is the ratio of equity divided by the margin held (margin requirement on the open trades), multiplied by 100.

18. Is there a debit balance risk? Will I lose more than my initial deposit?

At Banco Modal, we offer clients 'negative balance protection', which effectively guarantees that you do not have to pay more than your initial investment in case of a trading loss. Technological advancements on our trading platform triggers a market execution order to hedge all positions as soon as the equity reaches the 10% equity/margin ratio threshold level.

19. Where are your servers located?

Our servers are located in Europe, USA, and Middle East.

Forex FAQ's

1. What is Forex Market?

Forex market is the simultaneous purchase of one currency and sale of another; currencies are always traded in pairs. International currencies are traded on floating exchange rates.

2. What are the common currencies in the Forex market?

The most common currencies in the Forex market are divided into Majors and Crosses as the following:



3. Who participates in the Forex market?

Central Banks, Commercial and Investment Banks were the traditional dominants of the Forex market, but now we can also include International Money and Fund Managers, Multinational Corporations, Registered Dealers, Options and Futures Traders and Private Investors.

Online application

  1. Completa activation opening the account online.
  2. You will be sent a message which will ask you to confirm your email address.
  3. When will confirmed your email you will be sent a temporary ID and a link that allows you to fund your trading account (you can evaluate between different means of payment such as credit cards or bank transfers to one of our accounts selected bank. Click here for more information).
  4. When you have made your deposit you will receive a link that will allow you to download the MT4 trading platform together with your user ID and password to log in (to ensure safety, it will be sent login and password (s) via two different messages e-mail).
  5. Scarica the Capital Trading Platform confidence and begins to do business

How to make a withdrawal

Trust Capital offers easy and reliable services to ensure on-line rapid withdrawals. We promote a variety of means to withdraw cash as bank transfers and credit and debit cards.

The reimbursement of payments will only be carried out with the means of payment for origin.

How to withdraw funds from my account?

It is encouraged to complete the withdrawal model and to send e-mail from or you can ask our customer support team via e-mail or phone if so needed. One of our experts will serve as support for the first moments of withdrawing funds from the account.

How long does it take to withdraw money from my account?

Withdrawals are usually carried out by Capital Trust within one business day. If sampling is done with a credit card, the money will come on the same day or the next working day. If sampling is done by bank transfer, the time can be up to 5 working days because of processing delays by banks and financial intermediaries.

Choosing a Trading Platform

With an account, you’ll have access to thinkorswim, a powerful trading platform where you can trade forex, as well as other investments. This feature-packed trading platform lets you monitor the forex markets, plan your strategy, and implement it in one convenient, easy-to-use, and integrated place. One of the unique features of thinkorswim is custom forex pairing.

In addition, TD Ameritrade has mobile trading technology, allowing you to not only monitor and manage your forex position, but trade currencies right from your smartphone, mobile device, or iPad.

Developing a Trading Strategy

For any trader, developing and sticking to a strategy that works for them is crucial. Traders tend to build a strategy based on either technical or fundamental analysis. Technical analysis is focused on statistics generated by market activity, such as past prices, volume, and many other variables. Charting and other similar technologies are used. Fundamental analysis focuses on measuring an investment's value based on economic, financial, and Federal Reserve data. Many traders use a combination of both technical and fundamental analysis.

Spreads & Commissions:

Figures reported are from spreading Streaming Financial Bank's Best Bid / Best Offer pricing engine. Diffusion historical figures stated are average values derived from time-weighted price negotiable Financial Bank from 2 July 2014 to 31 July 2014. The spreads are variable and subject to delays. Financial Bank strives to provide traders with tight, competitive spreads; However, there may be instances when market conditions cause spreads to widen beyond the spreads displayed here. Spreads and commissions advertised may not be applicable to certain types of accounts, such as those in special reference brokers and merchant accounts active. Fees are charged in the currency of your account. The figures provided for informational purposes only, and is not intended for trading purposes or advice. Financial Bank is not liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.

We offers exceptional value at a low, special cost. We have super-tight forex spreads with no markups ―EUR/USD averages 0.2 pips and USD/JPY, 0.3. Our best commissions, as low as $0.04 per 1k lot, help keep your trading costs down.

Spreads at Financial Bank are incredibly low because there are no markups. You trade the exact bid/ask quotes that stream from our liquidity providers. The table to the left highlights our 10 most popular currency pairs

Want to see all Financial Bank spreads? Sign up for a free $50,000 practice account or visit our Forex Pricing page.

Forex Anonymous Account

Importance of Forex Trading Platform pushed our professionals to adapt modern financial market esigence.

Banco Modal offers its customers around the world to open Forex Account anonymous.

The name speaks for itself, your stay in complete anonymity for Forex, and your data will be known only to one of our bank employee - your personal manager.

Another advantage for the opening of this account in our bank is that all transactions will be assisted by our negotiating team consists of professionals who have years of experience in this field. They will assume full responsibility and all risks of all foreign exchange transactions.

For investments of more than $ 30,000 ($ 30,000 minimum deposit) have a high percentage of income with an interest charge weekly.

By Anonymous Forex Account we guarantee that the revenue is from 0.015% to 0.8% per day. You can control all accruals through your Internet Banking.

In addition to the great interest is calculated weekly, this type of account gives right to a personal manager with a direct phone number that is available 24 / 7.Also the law relating to banking assistance prime bank output urgent rush to the phone.

Monetary Funds can be disposal on your Forex Anonymous Account including accrued interest.

You can perform the procedures on withdrawal of money like of outgoing international wire transfer online execution.

All our bank transfers are made in Express mode. SWIFT transfer will take 1 business worldwide day.


24-hour access

Forex trading starts from Monday, 5 pm * Saturday, 05:00 (time of Barbados). There is no negotiation on Saturday, 5 to the following Monday, 5:00.

It refers to standard time and will be brought forward 1 hour when daylight saving time is in effect.

True 24-hour market liquidity

High volume of daily trading gives forex traders are highly liquid to move in and out market.Capture opportunities in various market conditions.

Forex traders can capture opportunities under different market conditions, be it a bull or a bear market. It can be used as a tool for hedging one's forex exposure or physical positions.

No physical currency required for trading

In leveraged forex trading, no physical currency is needed to change hands. This means that it is not necessary to have the notes physical in order to operate.