Frequently Asked Questions
Questions about Windsor:
Questions about Trading:
5. Do I need to have any previous trading experience?
6. Does Windsor offer demo accounts?
7. What instruments can I trade at Windsor?
8. What is Forex?
9. What is a Lot?
10. What is Spread?
11. What does a "long" or a "short" position mean?
12. What is Margin and Leverage?
13. What are CFDs?
14. What are Futures?
15. How long does it take to execute a trade?
16. Do you charge any commission?
17. What are Rollovers / Swaps?
18. What types of orders are available?
19. How can I check the equity of my trading account and my deals / trades for the day?
20. Can I trade via Pocket PC?
21. Do you offer Interest-free trading accounts?
Questions about opening a real trading account:
22. What is the procedure for opening a real trading account with Windsor?
23. When can I start trading?
24. How can I become a Business Introducer (BI)?
Questions on Depositing / Withdrawing funds to / from trading account(s):
25. How much money do I need to open a trading account with Windsor?
26. How can I fund my trading account at Windsor?
27. How do I withdraw funds from my trading account at Windsor?
28. Can funds be transferred from a third party to my trading account with Windsor?
Questions regarding Client Support:
29. What methods of contact are available?
30. When can I reach a Sales representative?
31. What are the working hours of the dealing room?
32. What if I have a comment / suggestion?
Windsor is an Investment Firm, located in Limassol, Cyprus. Established since in 1988, Windsor is a principal broker offering a wide range of financial instruments to many institutional and private investors on the international market. With over 20 years of experience, Windsor has proved to be a reliable broker with a vast clientele based in Europe, Middle East, Gulf, North Africa and the Far East.
Windsor Brokers Ltd is licensed and regulated by CySec (The Cyprus Securities and Exchange Commission) holding license no. CIF 030/04. Windsor is authorized by the FSA (The Financial Services Association – UK, ref. no. 463727) and is registered with BaFin (Germany) and the AMF (France). Windsor conforms to the Investment Services and Activities and Regulated Markets Law of 2007 L144 (I)/2007 – implementing mainly the European Union Investment Services Directive 2004/39/EC, MiFID.
Windsor is also member of CIFSA, (The Cyprus International Financial Services Association), which aims to promote and maintain high ethical standards among members in the provision of financial services to their clients.
Moreover, Windsor is a member of the Investors’ Compensation Fund, a fund established by the authorities offering protection to investors and clients of investment and credit firms in Cyprus.
An additional prerequisite of CySec (Cyprus Securities and Exchange Commission), is that all clients’ funds are held in segregated accounts, meaning completely separate from Windsor’s accounts. Clients’ funds are kept by Windsor in first class banks.
4. What are the risks involved in trading?
To view the risks involved in trading, kindly refer to our Risk Disclosure Statement.
Previous experience is not required. Experience can be gained by using Windsor’s Demo account. As a next step, Windsor gives clients the opportunity to open a Micro trading account where they may trade under real-time prices and market conditions with the minimum investment.
Windsor gives the opportunity to test our trading platform – the Windsor MT4 (based on Metatrader 4) for a free trial period of 90 days for testing purposes, enabling clients to familiarize with the financial instruments traded, trading procedures and the risks involved in trading financial instruments.
- Forex Currency Pairs,
- Spot Precious Metals
- Future (OTC) Currencies
- Future (OTC) Indices
- Future (OTC) Precious Metals
- Future (OTC) Energies
- Futures (OTC) Commodities
- CFD Indices
- CFD Energies
- CFD USA
To view the complete list of instruments with their symbols, contract sizes, pip values, margin requirements, spreads on orders from Market price, transactions and trading times, you may refer to the Contract Specifications Table of each account type.
The foreign exchange (‘currencies, Forex or FX’) is a market where participants buy, sell, exchange and speculate on currencies. In particular, it consists of trading one currency for another, ex: EURUSD. This means trading the Euro against the US dollar. Forex and related markets is the largest and most liquid financial market in the world, where the average trade consists of trillions per day.
Trading foreign exchange may have various advantages because of its transparency, direct dealing, significant trading volumes, extreme liquidity and the great number of participants in the market including governments, central banks, banks, financial institutions, corporations, private investors, etc…
In addition, due to the different time zones of the major financial centers, starting from New York to Australia, Tokyo, Hong Kong, and Europe, the Forex market is open 24 hours a day (except on weekends), usually from Sunday 00:00 until Friday 23:15 Cyprus local time (GMT+2 Winter time, GMT+3 Summer time).
a. Currencies that are traded against the US dollar are called Majors and make up the greatest number of foreign currency trades.
- USD (US Dollar)
- EUR (Euro)
- GBP (British pound)
- JPY (Japanese yen)
- CHF (Swiss Franc)
- AUD (Australian dollar)
- CAD (Canadian dollar) Ex: AUDUSD/EURUSD/GBPUSD...
A lot is the standard unit size of a transaction.
Depending on the financial instrument traded, the lot size is determined; i.e. a standard lot traded at Windsor, for Forex trading, usually consists of a contract size of 100,000 (units of the base currency).
The contract size is then proportionate as per the lot indication - standard, mini or micro lot. As a result, a standard contract size of the GBPUSD is 100,000 GBP then the mini lot consists of a contract size of 10,000 GBP and the micro lot consists of 1,000 GBP accordingly.
For details on all instruments traded at Windsor, please refer to the Contract Specifications document of each account type.
Spread is the difference between the Bid and Ask prices.
When trading any financial instrument, you are offered two prices; the Bid price and Ask price. The Bid price is the selling price and the Ask price refers to the price offered for buying.
The difference between the Bid and Ask is called Spread and varies for each financial instrument traded. The measurement between the two prices is usually referred to as:
- pips [for Forex Currency Pairs].
- cents [for Spot Precious Metals].
- ticks [for Future (OTC): Currencies, Precious Metals, Commodities and CFDs USA].
- points [for Future (OTC): Indices, Energies, CFD Indices and CFD Energies].
An advantage of trading currency pairs at Windsor is the low spreads offered, which is as low as 2-3 pips on majors.
A 'long' position or ‘going long’ is a market position where the client buys a financial instrument with the intent to sell it at a later stage, at a higher price.
A "short" position or ‘going short’ is a market position where the client sells a financial instrument with the intent to buy it at a later stage, at a lower price.
Margin Trading is trading financial instruments based on Margin which is a guaranteed deposit based on a certain percentage that is requested from clients in order to open a new position. Margin guarantees the coverage of losses made by the client in the case that the market moves against him. Deposits are transferred back to the account when position is closed or hedged.
Clients are required to maintain a minimum amount of funds for each open position held in their trading account, in accordance with the chosen leverage. These funds are known as Margin Requirements and are considered to be a guarantee and not a cost.
Leverage is defined as borrowed capital, such as margin, used to increase the potential return of an investment. In cases where the client uses leverage for an investment and the market moves in the opposite direction to the client’s expectation, the loss on the investment is much greater than what it would have been if the investment had not been leveraged. Leverage magnifies both profits and losses. The higher leverage, the higher the level of risk and the higher possibility of a profitable return or loss.
Once the Free Margin/available margin of a trading account falls below Margin Call level, the trading account is considered to be on Margin Call. The client is recommended to add new funds to his/her trading account in order to bring the Free Margin of the trading account to its required level. In cases where the trading account is not supported with additional funds and the Free Margin falls below the stop out level, the trading account will be stopped out.
A CFD (Contract for Difference) traded with Windsor are equity derivatives allowing investors to take positions on any CFDs, offered by Windsor for trading, and speculate on share price movement.
It is therefore an agreement between two parties to exchange the difference between the price of the opening and the closing of the contract (hence the name – contract for difference). Upon closing the contract, the profit or loss is calculated by multiplying the difference between the buying and selling price with the number of shares.
The major benefit of trading a CFD is the fact that the client can trade on margin – meaning client can trade a full portfolio of CFDs without having to tie up large amounts of capital.
At Windsor, we offer the following CFD contracts for trading:
Light Sweet Crude Oil
29 of the major USA company shares (i.e. Ford, Yahoo, eBay, etc…)
14. What are Futures?
A future contract is a contractual agreement to buy or sell a specified commodity or financial instrument at a predetermined price, on a set date in the future.
Futures can be traded both on the trading floor of a futures exchange or through an electronic platform (OTC).
Trading futures is made by buying or selling futures contracts which are standardized according to the type of the financial instrument, quantity and expiry date of each instrument. A future contract is specified with the month during which the delivery or settlement is to occur i.e. if the product is gold and delivery is in July then the price quoted/traded is for July Gold.
All futures traded include therefore, a specific termination date consisting of the contract name, expiry month and year. The standard symbols used for each traded month, by Windsor are:
[Jan: January] - [Feb: February] - [Mar: March] - [Apr: April] - [May:May] - [Jun: June] -
[Jul: July] - [Aug: August] - [Sep: September] - [Oct: October] - [Nov: November] -
Future contracts traded with Windsor are OTC (Over-the-counter Market), which is a market where financial products such as foreign currencies, indices and other financial instruments are bought and sold outside the actual exchange.
At Windsor, we offer the following Future (OTC) Contracts:
Future (OTC) Indices
- Big Dow Jones, Mini Nasdaq 100, Mini S&P 500
Future (OTC) Energies
- Light Sweet Crude Oil, Mini Natural Gas
Future (OTC) Commodities
- Coffee “C”
Deals are executed within seconds up to few minutes depending on the financial instrument in question. However, one of the major advantages of our trading platform, the Windsor MT4 is the Instant/Market Execution on Forex currency pairs and Spot Precious Metals, Instant/Market Execution on CFDs and Market Execution for Futures (OTC) instruments.
There is no commission charged on Forex currency pairs, Spot precious metals or CFDs trades. However, a commission of US$ 25 per Standard lot round turn is charged on Futures (OTC). This commission is proportionate according to the size of the lot traded. For example, if you are trading a portion of 0.10 of a lot (mini lot) of a Futures instrument, the commission that will be charged in your trading account will be 0.10 x US$ 25 = US$ 2.5.
For all spot positions which are held open overnight, i.e. not closed before 12:00 midnight (Cyprus Local Time). Rollover / Swaps are either added or charged on each position depending on the financial instrument and whether you are buying or selling. Rollover charges apply on Forex currency pairs, Spot Precious Metals and CFDs.
To view the types of orders that you may place on the Windsor MT4, please refer to the Trading Mechanism document of each account type.
A Daily Confirmation is sent to each client stating all activity on each trading account. Clients may also check the status of their accounts directly through the Windsor MT4, through the Windsor Mobile, or by calling the dealing room for an update on their account(s) anytime, 24 hours a day, five days a week, Monday to Friday.
Yes. Windsor offers the “Windsor Mobile” software for clients who wish to trade by using their Pocket PC.
Yes. Windsor offers clients the possibility to trade on an Interest-free basis, according to certain conditions. For details, please contact our Sales Team.
To open a Real trading account with Windsor, you must fill the Account Opening Application and carefully read the following documents: Client Account Agreement, Risk Disclosure Statement, Online Access Agreement and the Trading Mechanism.
Once you have read all terms and conditions and signed the application, you may proceed to sending your application by fax to 00357 25 500888 or by email to email@example.com for approval. Once your application has been approved, you may proceed to funding your account.
For further details on how to open a Real trading account for an Individual or a Company,
click here to contact our Sales team.
You may commence trading as soon as your trading account has been approved and funded. Process usually takes less than 24 hours after the funds are received to your trading account.
To work with Windsor through our BI Program and to become a Business Introducer for Windsor, please click here to contact our Marketing Department.
The minimum required deposits for different account types are as follows:
- Executive Account US$ 250,000
- Mega Account US$ 5,000
- Standard Account US$ 2,500
- Dynamic STP Account US$ 500
- Dynamic Fixed Spread Account US$ 500
- Mini Account US$ 250
- Micro Account US$ 100
For full details regarding funding options, please refer to our Deposits/Withdrawals page.
Clients may fund their account at Windsor via Wire Transfer, Credit Card and E-Wallet.
Credit Cards accepted are: Visa, Visa Electron and MasterCard.
For special funding via Wire Transfer, please contact us in order to provide you with different options for transfers depending on your country.
Clients may withdraw funds from their trading account at Windsor by downloading the Payment Order Instructions Form and by sending your request for withdrawal by fax to 00357 25 500888 or by email to firstname.lastname@example.org.
Regardless of the funding method you choose, the name of the person transferring funds must always match the name of the client’s trading account at Windsor. Windsor Brokers does not accept funds for any trading account by a third party, as per Anti-Money Laundering regulations.
- Live Chat – for direct assistance with our Sales Team
- Request a Callback – fill in the form and we will call you at your convenience
- Telephone – call us on 00357 25 500500 from Monday to Friday, from 9:00 a.m. to 6:00p.m. Cyprus local time (GMT+2 winter time, GMT+3 summer time)
- Email – for further specifications in writing, click here
Windsor offers multilingual client support; English, Arabic, Iranian (Farsi), Greek, French, Italian, German, Serbian, Polish, Romanian and Chinese. Windsor team recognizes the importance of being able to communicate with clients in their language and to understand their needs.
For any inquiries regarding our Company as well as our Products and Services, please feel free to contact our Sales team anytime from Monday to Friday, from 9:00 a.m. to 6:00 p.m. Cyprus local time (GMT+2 winter time, GMT+3 summer time). Click here to view how to contact us.
Our Dealing Desk is open 24 hours a day continuously from Sunday 00:00 to Friday 23:15 Cyprus Local Time (GMT+2 winter time, GMT+3 summer time).
Our clients’ feedback is of utmost importance; therefore, if you have any comments or suggestions, kindly fill our Online Comments Form and we will take your comments/suggestions into consideration or contact you for more information if necessary.