Articles

Realtime Transaction Report

256730   September 15, 2022 10:47   SwingFish   SwingFish Updates   EnFoid

Due to ongoing issues, we have created a dedicated Status page that will show the current, real-time exposure, pending transactions, and overall details.

the data displayed there may differ from other pages, as it’s created in real-time and not based on averages.

please note that pending transactions can be user or system-created but will show regardless until cleared or updated.

also noteworthy is that the totals are NOT representing the companies value, but only the contractual obligations as such.

Some huge chunks are still missing as in disputed amounts from past providers and partners,
we will add those in a later update to additional rows in just a few days.

this is to further increase transparency only and does not serve as a statement of performance.

click here to see the current Realtime Financial Status page

XRP (Ripple) Suspended

214834   April 29, 2022 04:41   SwingFish   SwingFish Updates   EnFoid

XRP is the cryptocurrency used by the Ripple payment network. Built for enterprise and bank use,
it aims to be a fast, cost-efficient cryptocurrency for cross-border payments.

due to the ongoing SEC’s action against Ripple Labs, Inc., Coinbase stop trading in XRP by January 19, 2021.

we were still using XRP for outgoing transfers.
as of today, we can no longer fulfill payments through XRP, as we are unable to obtain more Ripple Coins until the suspension is lifted.

Other Cryptocurrencies are NOT affected by this, the SEC’s action is only against XRP!

if your XRP Transaction was canceled, please re-add it using another Cryptocurrency.

this is not the end of XRP, once the SEC has concluded the investigation with Ripple Labs, Inc.,
we will enable XRP payments, deposits, and withdrawals immediately.

EnFoid merges with EnFoid

230600   April 24, 2022 23:25   SwingFish   SwingFish Updates   EnFoid

as part of the Legislation change, the following changes are planned:

• Q1 2022: Risk Products being moved to EnFoid Traders Inc.
• Q2 2022: Clients move internally to EnFoid LLC.
• Q4 2022: Striking off or releasing EnFoid Pte. Ltd.
• Q4 2022: sale of SG Assets that are not moving to the United States.

some of those tasks are major, others are just minor changes.

most of these things will take place in the background, and not affect any operations at all.
the only exception to this is the Proprietary Trading project, as we do violate regulatory requirements doing this, Prop Trading will be halted until the change is complete, to make sure the Law is on our side.

EnFoid has no (and never had) any interest in “Selling trading accounts” as this is in direct conflict with our mission statement, as a result, we will also use this chance to re-launch Prop Trading in a new form, which will be far more selective in enrolling traders, and in exchange more lenient towards the ones that do qualify.

Please see the Official Merger information here https://www.enfoid.com/legal-enfoid-enfoid-merger

Task List:

• move clients
  almost complete, some clients do require additional documentation and will be contacted individually.
• Two of the Singaporean Staff will stay with EnFoid, working from home permanently.
• Office Space in Wilmington
  Leases active since mid-2021, but we will need to finalize some infrastructure items.
  until then we continue operating in covid-19 fashion (from home)
• Banking Services
  still pending (requires management to travel to the United States)
  with this completed, Arkavis Services will be discontinued.
• Cash App & ACH direct Transfers
• Striking off EnFoid Pte. Ltd.
  this has been posted to Singapore Gazette on 17 May 2022

Server Outage (March 1)

207929   March 1, 2022 12:54   SwingFish   SwingFish Updates   EnFoid

good day, last night (March 1) we had a Server outage spanning serval hours,
due to a hardware error on our Database infrastructure.

All API-driven, cloud-based features (EnFoid.IO) and client systems were covered by our Backup Database Server located in Canada, which may had caused some latency issues,

all systems are back up now, and functioning as expected.

we do apologize for the inconvenience.

Office closed on 24 Sep

170842   September 23, 2021 17:48   SwingFish   SwingFish Updates   EnFoid

Our office will be closed on Friday 24 Sep 2021.

For the planned vaccination of all staff, plus the public holiday, due to known side-effects, the office will remain closed till Monday.

there also will be no live trading on Friday.

We will process in and outgoing transactions after the end of 23 Sep. 2021, resulting in a rollover to be processed 24 hours earlier.

From Monday onwards, our online support will be available for you via email and Live chat.

Prop Update: Jurisdiction change for Proprietary Trading Accounts

138351   May 13, 2021 06:08   SwingFish   SwingFish Updates   EnFoid

to all Live/Funded Traders

we currently in the process of Merging accounts into our newly founded subsidiary,
as a result, the accounts will be moved to the respective Jurisdiction.

Don’t worry, no change in contracts, profit split, or rules will happen
in short, everything keeps spinning 😉

this will allow us the following:

• Maintain the 1:100 Leverage on FX Accounts.
• adding Crypto Trading.
• back to offer Futures and Equities to existing Traders.
• enable new risk profiles.
• Remove double taxing for Traders in the European Union.
• Solving upcoming regulatory issues in south-east Asia.

as a result of this, a few things will change sequentially on a trader by trader base:

• we may move some Funded/Live accounts to other platforms/brokers/or Servers
  as an example:
  – ICMarkets do operate accounts on a different Juridtiction, if your account is in ASIC we will move the account and provide you New logins.
  – if your broker doesn’t accept Cooperate clients from new Jurisdictional regions, we may move you to another broker
  – those changes will be dealt case-by-case
• Banking Information may change depending on the Jurisdiction
  if some accounts (especially wire-transfer accounts) appear inactive, that may be because of this, just contact support to get current accounts for fast transfers.
• EnFoid accounts solely used for Trading will only available in the currencies USD, EUR, GBP, AUD, CAD, HKD, and SGD
  existing accounts in other currencies will stay as they are.
• Outgoing profit payments will be uninterrupted.
• PayPal, Skrill, and Crypto will not be affected.

during the transition period,
there may be some delay in creating new Trading accounts.

in case of any question, we always there for you

IB Update ICMarkets

121271   March 12, 2021 15:03   SwingFish   SwingFish Updates   EnFoid

Due to Regulatory changes, we will have a new Agreement with ICMarkets starting Fri March 12 2021!

the agreement will be with the Global entity of IC Markets “IC MARKETS GLOBAL”

everything will stay the same, if you do have a ICMarkets account added to your IBLink they will automatically updated.

New accounts are not affected by this at all.

due to the new Systems put in place, settlements may be delayed but will always take place, there will be no cycle or payment missed because of this.

more details on IBLink here: https://www.swingfish.trade/free-money-trade-rebate

New CopyTrade in public Beta

71407   September 13, 2020 16:09   SwingFish   SwingFish Updates   EnFoid

if you trade with multiple accounts/platforms (even on multiple firms) EnFoid CopyTrade is what you need.

you can now simply manage execution spanning multiple accounts, platforms, balances, and brokers.

via an easy to use interface.

in addition to the account list, inside of your EnFoid account, the status of the copy system is seamlessly integrated into the Account Settings pages.

EnFoid account holders can see the active accounts on the new Copy Trade Status page

details and updates can be followed on the public Copy Trade information page

currently this public beta is available only to EnFoid Traders, but will be available for everyone shortly.

how to NEVER fail Prop Trading challenges

56759   July 6, 2020 00:37   SwingFish   Traders Library you should know   EnFoid

A few simple & easy steps to ensure never to fail a trading challenge or live trading.
this works for almost all Proprietary Trading Firms, the content below is based on EnFoid Proprietary Trading (more…)

Proprietary Trading (prop) Weekend Rule softened

50619   April 19, 2020 15:40   SwingFish   SwingFish Updates   EnFoid

previously trading during weekends wasn’t allowed. as we can not control the exposure during closed markets.
this rule will be softened to the following:

Positions can be held during weekends if:

• they are REASONABLY Sized!
  meaning a large gap will not exceed the max or daily loss.
• Hedged Positions can be held with any size.
• no STOP or LIMIT orders of any type.

This change does affect ALL Account types.

sizing is up to the trader, but if this is stressed, abused or overdone,
EnFoid will Terminate live account’s with no warning, regardless of the outcome on re-opening.

make sure you read the updated Rules in detail.

Proprietary (Prop) Trading changes & updates

48725   March 30, 2020 01:38   SwingFish   SwingFish Updates   EnFoid

We currently overhauling the Proprietary systems to provide a better experience to our Traders, and more stability overall.
as a result, there will be a few changes applied to different parts of the systems and the way we do these things.

All these changes will come into effect on March 31 2020 23:59 SGT

(more…)

RoboForex rebate update

45184   March 7, 2020 09:50   SwingFish   SwingFish Updates   EnFoid

get up to 30% of your trading fee’s back! with Swingfish Forex rebates!

you may have noted that there is a somewhat change in payouts generated via RoboForex/RoboMarkets.

this is due to a change in the partner program, which we have no control over.

no other broker is affected by this.

all RoboForex users will receive 100% of what we will receive. (even if the user is not a SwingFish member)

we working on a better solution, but this may take some time.