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Account Information
How much money do I need to open an account?
FOREX.com's initial margin requirement for a MetaTrader account is £250.
FOREX.com will only execute trades on margin if the client has sufficient funds in his or her account.
How do I open an account with FOREX.com?
Opening an account is easy. Simply complete the following three steps.
- Complete Application
You can apply online or download the necessary forms from our website.
- Verify Personal Information
U.K. and US Residents:May be required to submit additional information to verify personal information.
Residents outside the UK and US: Will be required to submit two (2) forms of identification, including one (1) photo ID (i.e. passport or any other government issued document evidencing nationality or residence and bearing a photograph), AND one (1) proof of address as represented on this application (i.e. utility bill, drivers license, bank statement, etc). Required of all authorised signatories of this account.
New account paperwork may be faxed, emailed or mailed.
Fax: +44 (0) 20 7236 4870
Email: newaccounts@forex.com
Mail:
FOREX.com UK Ltd.
Attn: New Accounts
23 College Hill, 3rd Floor
London, EC4R 2RT
- Fund Your Account
Once your account is open, there are two convenient ways to fund your new trading account:
- Credit and Debit Card
- Wire Transfer
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What is the best way to send new account paperwork?
The fastest method to send new account paperwork is by fax or email. New documents should be faxed to +44 (0) 20 7236 4870 or e-mailed to newaccounts@forex.com. Lower quality or old fax machines are often difficult to read. If you do not have access to a high quality fax machine, scanning and then e-mailing the image is often times a simple solution. If you do not have access to either a fax machine or a scanner, documents can always be sent through the mail to:
FOREX.com UK Ltd.
Attn: New Accounts
23 College Hill, 3rd Floor
London, EC4R 2RT
How do I know if my account has been opened?
Once your account is opened, you will receive an email with your username and instructions for accessing your account. Please note that username's are only assigned after your account paperwork has been approved.
How do I fund my account?
There are two easy ways to fund your account.
Wire Transfer - The fastest and easiest way to fund your account. US Dollar, Euro, and British Pound are accepted.
Credit Card
For more information on funding your account, click here.
How safe is my money?
We understand that the safety of client funds is of utmost importance to all our clients. Please note that in accordance with FSA regulation in the UK, FOREX.com UK strictly adheres to FSA CASS rules requiring that all client funds be segregated and separately accounted for to protect our client's assets. As such, FOREX.com UK has trust letters in place with all depositories that hold client assets and we perform a daily client segregated funds calculation to ensure all client assets are adequately segregated. In the unlikely event of a default, all client assets would be protected and the segregated clients would have creditor priority over any and all claims. In addition, FOREX.com UK maintains significant excess capital in excess of regulatory requirements, actively reviews and monitors counterparty risk and is governed by a risk committee comprised of Senior Management members. We hope all the measures and processes in place, as well as those mandated by the FSA, alleviate any concerns you have regarding the safety of your assets on deposit with us.
When will my funds be posted to my account?
The time it takes for a deposit to post to your account will depend on the method in which it is sent:
Wire - 1 to 2 business days
Credit Card - within 24 hours of receipt
What happens to my open positions at the end of the trading day?
FOREX.com automatically rolls forward all open positions following the close of NY trading at 5:00 pm ET. Trading is typically suspended for up to 1 minute during the roll process. The amount paid or earned depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, assuming UK interest rates are significantly higher than Japan's, a trader long GBP/JPY (i.e. holding British Pounds), is paid interest upon rollover. Conversely, if a trader is short GBP/JPY (i.e. holding yen) interest will be debited upon the rollover.
Rollover credits or debits are applied daily to customer's account reflecting interest paid or earned on each open position held overnight.
FOREX.com's daily rollover rates and detailed reporting of rollover activity is available in the Reports section of the trading platform.
How can I get fractional pricing on my account?
Simply contact our client services department and request fractional pricing on your account. Requests are typically processed in 1 to 2 business days.
How do I withdraw money from my account?
Self directed clients, please login to MyAccount.
If your account is being managed by a third party, click here to request a withdrawal.
Withdrawal requests will incur a £15 or currency equivalent wire fee.
Withdrawal requests are processed within two (2) business days of receipt.
What is considered a 3rd party?
FOREX.com will not accept third party deposits or withdrawal requests. The name(s) on the FOREX.com trading account must be an exact match with the name(s) on the account of the other financial institution. This includes (but is not limited to) instances where the name on the bank account is not a FOREX.com account holder, business accounts and endorsements to FOREX.com.
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