Before deciding to invest in the forex markets available on CloakFX, you should carefully consider your investment objectives, level of experience and risk factors. Always remember to invest responsibly which means that “do not invest you cannot afford to lose”.

The leveraged nature of forex trading means any changes in market prices will equally affect your funds. This may be at profit or losses. CloakFX has a mandatory stop loss of 80% of opened trade size. You cannot lose all your deposited funds at a single trade.

There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. Cloakfx.com is not responsible for communication failures or delays when trading via the Internet. Cloakfx.com employs back up systems and contingency plans to minimize the possibility of system failure.

Any opinions, news, research, analyses, prices, or other information contained on CloakFX website and comments section are provided as general market commentary and do not constitute investment advice.
Cloakfx.com is not liable for any loss or damage, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Cloakfx.com has taken reasonable measures to ensure the accuracy of the information on the website. The content on this website is subject to change at any time without notice.

Please note that foreign exchange and other leveraged trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.

*Contracts for Difference (CFDs) are not available to US residents and other countries where such distribution or use would not meet local law or regulation. Therefore all US IPs banned beforehand.

CloakFX is a trading platform that allows cryptocurrency users to join real-world markets directly with cryptocurrencies. With CloakFX, you can open long and short positions with up to 200x leverage in global world markets using CloakCoin and Bitcoin wherever you are in the world. You can also share your ideas and trades with other traders, as well as copy the trades of successful and popular traders and generate high profits in a short time with low capital. CloakFX does not convert for fiat currencies such as US Dollars or EURO.

CloakCoin is a cryptocurrency that’s designed to facilitate anonymous and decentralized transfers. CloakCoin develops its own secure privacy protocol called ENIGMA. It enables private, and anonymous monetary transactions all over the world without compromising blockchain auditability. Anyone can participate in this digital system, and only a smartphone or computer is required. CloakCoin first came onto the scene in the year 2014 and it uses the POS consensus protocol. CloakCoin is based on blockchain technology using the same concept as Bitcoin, but with a few new changes. There has been an addition of encrypted layers of communication and a off-blockchain coin mixing system that provides high security and makes it impossible for third parties to trace any sort of private transaction between CloakCoin wallets.

On CloakFX you can deposit and withdraw using CloakCoin & Bitcoin. Withdrawals are fully automated and happen instantly. Deposits require one network confirmations, and this usually takes a few minutes. Be sure to double check your deposit and withdraw addresses to prevent any mistakes, since all payments are irreversible. All of your deposits and withdrawals can be found in the “Wallets”. Coinbase is the world’s largest Bitcoin (BTC) broker. They represent an easy and fast way for new users to purchase BTC. To purchase CLOAK you can select one exchange from the exchange list. Buy CloakCoin (we recommend to buy on Livecoin or STEX exchange)

Leverage is a technique to multiply gains and losses. It involves buying more of an asset by using borrowed funds. On CloakFX, the leverage is completely adjustable when you open an order. High leverages, however, can increase both profits and losses dramatically and can also be used to reduce counterparty risks, since only a portion of your position size has to be deposited on CloakFX. You can use our Profit/Loss calculator to get a better understanding for leverages.

When trading, you have two options: Going long or going short. When you take a “long” position, you will profit from the price increasing from your entry price. When you take a “short”, you will profit from the price decreasing from your entry price.

CloakFX has two different order types: Market and Limit orders.

When you open or close a position using a Market order, your position will be executed immediately at the best available price on the order books. This is the simplest order type which does not require any parameters.

A Limit order makes it possible to set the price at which you want to open a position. This “limit price” should be lower than the current price for long positions and higher for short positions.

A Stop Loss is a threshold at which a position is closed if it is crossed by the underlying price. It is a protective measure if the market moves against the member’s trade. Keep in mind that the Stop Loss value is not a guaranteed exit price, it just triggers a regular market order. Especially if you are holding positions over-night or over-weekend, it cannot protect your position from sudden price fluctuations. 

The Take Profit value is useful, if you would like the position to close once the market moves in favor of your trade to the specified price.

Overnight financing charges are applied to positions that have no set expiry date. Overnight financing is a fee that you pay to hold a trading position overnight on leveraged trades, it is essentially an interest payment to cover the cost of the leverage that you use overnight.

A Trailing Stop Loss works like a regular Stop Loss except that it will trail the price at a set distance if the trade develops in trader’s favor and remain the same if it does not. It is used to limit losses if the market goes against the member’s trade and to “lock-in” any profits if the market moves in your favor. 

Example: If a member sets Stop Loss for a long position at 200.00 while the market price is at 210. If this member activates the Trailing Stop Loss it will trail the price at a distance of 10. It will be updated to keep that distance if the price moves away from the Stop Loss and will remain unchanged if the market price moves closer. Once enabled the Stop Loss is updated every 60 seconds.

CloakFX has several functions that differentiate itself from regular trading platforms: You can easily comment on shared trades that helps members to socialize and exchange their ideas with other community members. Detailed statistics provide interesting insights into the activity of other traders. Even better, if other members copy your trades, you will receive a reward for each public trade that closed successfully. Its investors know that CloakCoin is a Proof-of-Stake coin that offers a passive income, now by copy trade profit reward Cloakfx also offers its community the chance to earn a passive income, too!

The Profile
Each member has a unique profile section that they can edit anytime they want. Members can upload a custom picture and write a short description of themselves on the profile. On the profile page, statistics of shared trades are also publicly visible. This will help Cloakfx members to extend their number of copiers.

Sharing a trade
Only publicly shared trades are visible by Cloakfx community members and will be automatically copied by followers. However, for such trades, the minimum trade amount is 250 USDC per trade. This ensures that a malicious user cannot make risk-free trades while putting the funds of the copiers in danger.

Copy a trader
You can copy successful traders with a fixed amount per trade. For security reasons you can also set the maximum number of trades, you want to copy per day. The creator of trade will have full control over the Stop Loss/Take Profit price and can decide when to close the position. However, you can manually close a copied position at any time as well. If you do not have enough funds to copy trade, you will be notified and automatically unsubscribed from this user.

Rewards and Fees
The copy reward system is based on the performance of a trade. If a shared trade is closed successfully then there will be reward and charges as below:

    • Trade owner receives 5% of the generated profits and
    • 7% of the profit is charged from the copiers.

Keep in mind that only profitable trades lead to rewards and charges.

Calculation Example
The calculation here is an example, Let’s assume each trade a member share is copied with 5000 USDC in total. If the member closes such a trade with 20% profit, member will receive:
5000 (Copy Volume) * 0.2 (Profit %) * 0.05 (Copy Reward %) = 50 USDC

A person who copied this trade with 100 USDC will be charged with
100 (Copy Amount) * 0.2 (Profit %) * 0.07 (Copy Fee %) = 1.4 USDC

There are no hidden fees; everything we charge is listed on this page. 

Account creation
0.00 CLOAK

Realtime market feeds
0.00 CLOAK

Order placement*
0.00 CLOAK

Deposit Fees
0.00 CLOAK

0.00 BTC

Withdrawal Fees
0.02 CLOAK
0.0005 BTC

Trading fees
none

Copy Trader fees**
7%

Inactivity fees
none

Minimums
Minimum margin to open an order: 10 USDC
Minimum margin to copy a trader: 10 USDC
Minimum deposit amount: 10 USDC (less non-refundable)

Two-factor Authentication
0.00 CLOAK/BTC

Minimums
Minimum margin to open an order: 10 USDC
Minimum margin to copy a trader: 10 USDC
Minimum deposit amount: 10 USDC

Overnight Financing
There are no overnight charges for unleveraged positions!

Market
Long Positions (Mo-Fr, daily excluding Wednesday***)
Short Positions (Mo-Fr, daily excluding Wednesday***)

AUD/NZD
0.0194%
0.0194%

AUD/USD
0.0194%
0.0194%

EUR/AUD
0.0194%
0.0194%

EUR/CAD
0.0194%
0.0194%

EUR/CHF
0.0194%
0.0194%

EUR/GBP
0.0194%
0.0194%

EUR/JPY
0.0194%
0.0194%

EUR/NOK
0.0194%
0.0194%

EUR/SEK
0.0194%
0.0194%

EUR/TRY
0.0194%
0.0194%

EUR/USD
0.0194%
0.0194%

GBP/USD
0.0194%
0.0194%

NZD/USD
0.0194%
0.0194%

USD/CAD
0.0194%
0.0194%

USD/CHF
0.0194%
0.0194%

USD/CNH

0.0194%
0.0194%

USD/JPY

0.0194%
0.0194%

USD/MXN

0.0454%
0.0454%

USD/TRY
0.0454%
0.0454%

USD/ZAR
0.0454%
0.0454%

* Includes all order types: Market, Limit, Stop Entry, (Trailing) Stop Loss and Take Profit.
** Copy Trader fees apply only to profitable copied positions and are deducted as a percentage of the profit. 5% to trader who shared the trade, 2% CloakFX fee.
*** Industry practice to charge overnight financing three times on Wednesdays, We comply to all standarts of the industry, therefore charging overnight fees three times on Wednesdays. We do not charge fees on Saturday and Sunday separately, Saturdays and Sundays considered as 1 day.

PAIRSPREADMAX. LEVERAGE
AUD/NZD0.0002200
FOREX
AUD/USD0.0001200
FOREX
EUR/AUD0.0002200
FOREX
EUR/CAD0.0003200
FOREX
EUR/CHF0.000275
FOREX
EUR/GBP0.00018200
FOREX
EUR/JPY0.014200
FOREX
EUR/NOK0.00550
FOREX
EUR/SEK0.002850
FOREX
EUR/TRY0.0077220
FOREX
EUR/USD0.0001200
FOREX
GBP/USD0.0002200
FOREX
NZD/USD0.0002200
FOREX
USD/CAD0.0002200
FOREX
USD/CHF0.000175
FOREX
USD/CNH0.00150
FOREX
USD/JPY0.01200
FOREX
USD/MXN0.00650
FOREX
USD/TRY0.0055220
FOREX
USD/ZAR0.0381620
FOREX

1. Deposit 15 USDC or up to 1000 USDC equivalent $BTC or $CLOAK

2. Make a Deposit equivalent trade volume (Ex// Deposit 100 USDC and the close sum of 100 USDC positions or position)

Finally, get a 50% bonus balance of deposit. Only Deposits made in February have the right to gain a bonus campaign.

Bonus Balance Usage:

A bonus owner cannot open a trade with a bonus total.

Once trade opened and closed in loss, if the account has enough bonus total to cover it, then losses are covered from the bonus. Let’s say a user has 200 USDC balance and 50 USDC bonus total. Once he opens a trade and loses 30 USDC, then 30 USDC deducted from 50 USDC bonus total. The user then has a 20 USDC bonus left. If the user loses 60 USDC at one trade, then 50 USDC deducted from the bonus total and difference 10 USDC deducted from the original account balance. Therefore account will have 190 USDC and 0 USDC bonus.

Once trade opened and closed in profit. The user gets the same amount of bonus transferred to the original account. Let’s say a user has 200 USDC balance and a 50 USDC bonus. When a trade makes 20 USDC profit, another 20 USDC from the bonus account is transferred to the main balance. In this case User has 200 USDC + 20 USDC (trade profit) + 20 USDC ( transferred from bonus account) 240 USDC + 30 USDC bonus. 

If in a single trade user makes a greater profit then bonus amount, all bonus amount is transferred to the main balance. Let’s say 200 USDC makes 60 USDC profit where a user has a 50USDC bonus. Total balance will be 200 USDC + 60 USDC( trade profit) + 50 USDC ( all bonus balance). Therefore the total account consists of 310 USDC + 0 USDC bonus.