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The verification process can normally be completed online with the documents upload via your account. Once your account is approved and opened, you will receive an email from Forex.
Alternatively, you may sign in to your online account to check the status of your trading account. So if you have just opened your Forex.
For this example we will go through the steps of trading currency pairs forex. The steps are also the same for a demo account. However, the steps can be applied for any asset.
Both seasoned and novice traders can reap the benefits of a Forex. This is because a demo account can help you to learn trading strategies, from simpler to more strategic ones.
This is because in the demo account, you get a fictional result which is different from a real trading transaction. Of course any profits gained in the demo version are only virtual money too.
Regarding the virtual money, Forex. After completing the test trading and the demo version, you can then decide whether to start trading for real with your Forex.
You need to deposit funds to your account in order to start trading. To deposit funds into your Forex. You can add and save your payment details to your Forex.
Also good to note, but there are no deposit fees charged by Forex. If you want to withdraw funds at anytime, simply log in to your online account and request a withdrawal of funds.
All deposited funds need to returned to the original payment method that made the deposit. For a bank wire transfer the processing time take up to 48 hours.
For the maximum withdrawal amount, the amount is unlimited. But only when the initial card deposits have been refunded. Please note that for bank wire transfers, Forex.
But there may be a small transaction fee charged by the receiving bank. You can contact the support service in different ways:. The LiveChat option is a very good way to get assistance quickly.
There is usually a team member available to help you within 5 minutes. If you need to talk with the support for more general inquiries.
The email address is global. Usually, a support manager will answer within 24 hours. If you live in any of the countries where Forex. It operates under the regulation of many financial authorities and is fully trustworthy.
At the end of our Forex. Given the easy deposit and withdrawal procedures, Forex. With such a low minimum deposit as well, Forex.
Marco Sbalchiero. Author of this article and founder of Tradingonlineguide. My aim is to help you increase your trading knowledge with helpful content.
I come from an economic background and have a strong passion for forex trading. With more than 6 years in the online trading world, I want to share my financial knowledge so that anyone can develop their investment skills.
In my spare time I enjoy cooking and travelling. Here you can learn more about our review methodology. Skip to content.
About us About us. Contact Us. Trading Blog. Is Forex. How to Open an Account on Forex. All must be dated within the last 6 months The verification process can normally be completed online with the documents upload via your account.
Whilst you may want to start by pairing two of the largest currencies, you can pair with any of the available currencies. The only condition is that your account balance should be adequate and not in the negative.
Proper research and market analysis is a must. The spreads vary depending on the type of account the client chooses.
Regions outside the U. The DMA account offers no markup on spreads, but a commission is charged. Standard account and commission account traders may also benefit from the Active Trader Program.
The program is not open to DMA account holders, as that account already has volume-based fee reductions. As is the norm in the FX industry, clients will be charged swap fees on positions they hold overnight, which may be subject to currency conversion charges if they trade in a currency other than the account's base currency.
The website does not list additional fees for deposits or withdrawals. Clients can choose between the downloadable advanced trading platform or MetaTrader 4 MT4 for a desktop experience, the web trader for a browser-based trading experience, or choose the Forex.
There aren't many drawbacks to the platforms. There are a sufficient amount of indicators and drawing tools to satisfy the avid technical analyst, and the platforms are functional enough to make rapid-fire trades, if needed.
The charting package is provided by TradingView and is, by far, the most impressive aspect of the web-based platform. Placing trades on the web trader or the downloadable advanced trading platform is intuitive.
Clients can trade directly from charts by right-clicking and selecting the "trade" option or by clicking on the "buy" and "sell" buttons along the top of the chart.
This brings up an order window where the entry, stop loss, and profit target are set. One-click trading can be enabled for rapid trade execution.
Additionally, the trader can choose to make the stop loss a trailing stop loss order. The one difference between the web-based and downloadable offering is that guaranteed stop loss orders are only available on the latter and, furthermore, only for U.
A Forex. VPS is available for MT4 accounts. Clients can use Forex. The mobile app is functional, providing traders with access to all their account information.
Traders can add or withdraw funds, view trade history, create watchlists, access news, and view charts from the mobile app. It is also easy to navigate and set up.
The charting feature is one of the drawbacks of the mobile app. There are a limited number of common indicators available, such as RSI, MACD, and moving averages, but drawing functions and more advanced technical tools are missing.
Full order functionality is available, including conditional orders and the ability to easily place stop losses and profit targets at the time of a trade.
Functional demo accounts are provided for free, giving potential clients time to assess the pricing structure before committing real capital.
The one criticism of the broker's demo accounts is that they expire in 30 days and Forex. The implication seems to be that you've had enough time to test our platform, so either open a funded "live" account or go elsewhere.
The broker's website lists multiple ways that clients can contact Forex. ET on Sunday to 5 p. ET on Friday.
FAQs and website client support were satisfactory, but repeated attempts to contact via "live chat" proved to be unsuccessful. Social media support is not available, although they do have social media accounts where they post market analysis and company information.
Phone support is the quickest way to have questions answered by a real person. There is a small menu to choose from at the start of the call.
Wait times will vary based on call volume, but during a normal day you can expect to wait several minutes before being connected with a representative.
Email support is available for more in-depth questions but expect to wait one to three business days for a response. Clients can access content according to their experience level, or thematically.
All content, with the exception of "technical analysis" topics that are available on the platform, can only be accessed through the website.
Client experience is divided into three categories—beginner, intermediate, and advanced, while themes range from the industry norm of providing market basics, such as fundamental and technical analysis, risk management, and trading strategies, to platform tutorials.
A comprehensive glossary is also available. New investors will find some helpful background information, but relying solely on Forex.