MEXEM FAQ Tags

business

Trading

When will my trades settle?

Forex and Stock trades settle on the second business day (T+2) post-sale, while securities option, index option, future, future option, US Government bond, and USD. CAD Forex pair trades settle the next business day (T+1). Check settlement dates in your Trade Confirmation Report.

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Funds & Banking

When will my deposit be credited to my account?

Check your deposit status in Client Portal or Message Center. Funds credit time depends on the transfer method: wires can take up to four business days, ACH transfers depend on the amount and time of submission, checks have a 6-day hold, online payments are credited instantly, and specific processes for Canadian transfers and IRA contributions apply.

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Products

What is the Forex settlement cycle?

Standard settlement period for most currencies is 2 business days (Trade Date plus two business days: T+2), with some pairs such as USD.CAD settling the next business day (Trade Date plus one business days: T+1).In order for a date to be a valid settlement date for a Forex transaction, the central banks for both currencies must be open for settlements. If either currency htlement date, sas a ‘holiday' on the target setettlement is deferred until the next valid business day for both currencies...

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General Questions

What does the phrase " subject to origination restriction" mean?

"Subject to origination restriction" limits withdrawals of ACH or EFT deposits in your MEXEM account. The sending institution can claw back funds for fraud or error. Withdrawals to other banks are restricted for 44 business days (60 for Canadian EFT deposits). After 4 business days, you can withdraw to the originating bank.

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