Our Frequently Asked Questions (FAQ) below are available to assist you with any common difficulties you may encounter while opening an account, or throughout the verification, funding, or withdrawal process. Our multilingual and professional support team at Centrum Markets is always on hand to address any questions and technical concerns you may have.
Visit the sections below to learn more about specific calculations for your account.
Frequently Asked Questions
Your equity is calculated as follows:
Equity = Balance + Credit + Profit / loss + Swap + Commission
The swap calculation formula is as follows:
Pip value X Number of lots X Swap rate X Number of nights = Swap Value
Swap values are provided in pips and are reflected in the contract specifications.
$10 (pip value for 1 lot of GBP/USD) x 4 (number of lots) x -0.35 (short GBP/USD) x 1 (number of nights*) = -$14
Please note that triple swaps are charged from Wednesday, as it includes the charge for the weekend.
The free margin in your account is calculated by subtracting the margin you have already used to open your positions from the equity on your account.
Formula: Free Margin = Equity – Used Margin
The formula to calculate the margin needed to open a position is as follows:
Notional value / Leverage
Example: For 1 lot of EUR/USD and using 1:400 Leverage:
50,000 EUR / 500 = 50 EUR = Margin needed to open a position.
The following formula calculates your margin level as a percentage:
Margin Level = Equity / Margin Used X 100
The formula for calculating pip values is as follows:
0.0001 or 0.01 X notional value (depending on the currency – 4th decimal for 5-decimal currencies and 2nd for 3 decimal currencies)
Example for 1 lot of EUR/USD:
0.0001 X 100,000 (1 lot= 100,000) = A pip value of 10 USD.
Please note that the pip value is always denominated in the quote currency.
If you would like to cancel or decline a withdrawal request you may do so by informing us via Live Chat, email at email@example.com, or by phone.
All withdrawal requests are typically processed by our accounting department within one working day, however the time required for the funds to be transferred will depend on the payment method used.
Bank transfers are typically processed by us within 1 working day, however, it may take approximately 3-5 business days for the funds to be credited to your account.
Credit or debit card withdrawals are also typically processed by us within 1 working day, however, it may take up to 10 working days for the funds to be credited to your account.
All other payment methods are processed accordingly. Ewallets are the fastest and easiest payment, verification and withdrawal method offered by Centrum Markets.
There has been no trading activity from your last deposit.
You have a non-withdrawable bonus on your trading account.
Your bank details (IBAN, Account Number, SWIFT code, etc.) are incorrect or incomplete.
There is not enough free margin available in your account to cover your open positions.
The payment method you have used for your withdrawal is different from the one used to make the deposit.
Please note that a credit or debit card withdrawal cannot exceed the amount deposited via the same credit or debit card.
To withdraw funds from your Centrum Markets client account, you may use your registered deposit method, Ewallet, credit/debit card, local payment solutions, or request a bank wire transfer. Withdrawals will be processed back to the same method as funding for the account. Please note that third-party funding or withdrawals are prohibited.
To make a withdrawal you must first log in to the ‘My Account’ section of the Centrum Markets website.
Navigate to the section labelled ‘Withdraw funds’ on the left-hand side menu.
Next, select the payment method you would like to use and complete the form with the payment details. Once complete, simply click the ‘Withdraw’ button.
Finally, submit your withdrawal request using your payment password.
You may check the status of your withdrawal anytime in the ‘My Transfers’ section on the left-hand side. If the status of the request is ‘Processing’, your request has been accepted. Once funds have been sent to you, the status will read ‘Funds Sent’.
Please note that bank wire transfers normally take up to 3 to 5 business days to be processed. If the funds still do not appear in your account after this period of time, please contact our accounting department and provide your payment confirmation (scanned copy of the swift transfer) after confirming that you have double-checked our banking details and your bank has not returned the funds back to your account.
Centrum Markets maintains isolated client accounts to ensure that client funds are fully segregated from company funds at all times. Client accounts have the required coding to ensure that they are used for only the clients’ purposes. All segregated client funds follow our strict policies and procedures, with activities monitored and reviewed by our external and internal auditors. As a client of Centrum Markets, you can be assured that your funds are safe.
All deposit requests are processed by our accounting department within 1 business day. However, the time needed for the transfer of funds will depend on your payment method.
Bank wires: Your transfer request should be processed within 3 to 5 business days from the time your funds were sent from your account.
Credit cards and Ewallets: The deposit should be posted to your account instantly, if there is no need for additional verification. If there is a delay, please check your email as we will send an email to inform you of any delays due to verification issues.
Please note that Centrum Markets is not liable for any transfer delays you may experience due to a disruption of service in the system of a third party payment processor.
We offer a wide variety of deposit methods such as credit and debit cards, Ewallets, bank wire transfers and also local payment solutions. You may view all available methods on our deposit page and choose which one is best suited for you.
Typical transfer errors when making a deposit:
- For Credit Card deposits – Insufficient card balance, transfer limits, card not activated for online activity, wrong data.
- For Ewallets – Insufficient balance or transfers limits.
- For Bank Wires – Wrong account number, incorrect currency instructions.
At Centrum Markets, we run an appropriateness test in order to evaluate whether financial derivatives are appropriate products for your profile.
The preferred method for submitting your documentation is by uploading them via your account.
Upload: Log in to ‘My Account’ to upload documents in a secure environment.
In order to open a corporate account we would require the following documents:
A Certificate of Incorporation (the document that states that your company is incorporated according to the local government regulatory agency).
Articles of Incorporation (the document that states the purpose for which the company was formed, indicating the members of the company and shareholders of the company).
Identification and proof of address documentation for any shareholder holding more than 10% of the company shares.
Yes, we require both account holders to provide government-issued photo ID. Documentation for proof of address is required for both applicants if they reside at different addresses. If both applicants reside at the same address then one proof of address is sufficient.
We require a recent utility bill (Water/Electricity) or a recent bank statement dated within the last three months. Mobile telephone or internet connection invoices are not accepted.
All new accounts require Centrum Markets to obtain and validate the name, address, date of birth, and corporate ID number (if applicable) of all applicants. We use electronic verification to confirm this information in a process similar to that of a bank. If your application does not meet the criteria or information cannot be authenticated, additional documentary verification will be required.
Acceptable government-issued photo ID includes: Valid passports, valid driver’s licenses, and citizenship cards. The following are not acceptable forms of photo ID: Birth certificate, marriage license, insurance cards.
You may open an additional account from our website. Simply click ‘Register’ and choose an account type, base currency and leverage. The standard verification process applies to all new accounts.
The trading platform is web-based and you do not need to download it. Centrum Markets offers you a web-based platform that is accessible from your mobile, tablet and desktop. Just choose your device, log in and you are ready to go!
Accounts may be opened in as little as 30 minutes if you have all of the correct documents ready and can speak to a member of our support staff. In certain circumstances, our due diligence process may require up to 3 days for the account opening process to be approved and complete. We may require additional documentation from you to open your account. If we do not offer accounts in your country or region, you will not be able to proceed with the online application. Please read our terms and conditions for further details.
At Centrum Markets we encourage beginners and experts alike to open and practice trading with a demo account. You may open a demo account by clicking here. Demo accounts help beginners learn how to trade and allow experienced traders to test new strategies in a risk-free environment. Your demo account will created after you complete the application and your login details will be sent to the email address with which you have registered.
If you have a verified live account with Centrum Markets, you may open as many demo accounts as you like. Demo accounts are limited to 50 simultaneous orders and will be deactivated if there is no activity for a period of 30 days. If you would like to re-activate your demo account, please contact our support team with your login details.
You can easily add additional funds to your demo account by logging in to your Centrum Markets account and selecting ‘My Accounts’ at the top of the page. Here, you will find a list of all the accounts you have registered. Click on the account number belonging to the demo account you wish to fund and click on ‘Fund Account’. A second drop down menu will appear, allowing you to select the amount with which you would like to top up your demo account. Select an amount and click ‘OK’. Your demo account balance will be updated.
Swap Free accounts are only eligible for clients of the Islamic faith. If you are eligible, you must first close all your open positions and then contact your account manager or send an email to firstname.lastname@example.org
You are able to change the leverage on your account anytime by contacting us at email@example.com. You can choose your leverage requirements according to your account type. In order to change your leverage, you must first close all your open positions.