Account Information FAQs
What's the difference between a practice and live trading account?
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The only difference is that there is no capital at risk when trading in a practice account. FOREX.com's practice account is fully functional and, more importantly, the bid/ask rates available in a practice account are the EXACT rates available to our live trading clients. The practice account allows you to see firsthand the consistent dealing spreads offered by FOREX.com and sample the ability to deal instantly from live, streaming quotes.
How much money do I need to open an account?
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The minimum deposit to open a standard account with FOREX.com is £2,500. FOREX.com's minimum transaction size for a standard account is 100,000, and has 100:1 leverage.
The minimum deposit to open a mini account with FOREX.com is £250. FOREX.com's minimum transaction size for a mini account is 10,000 and has 200:1 leverage.
Opening an account is easy. Simply complete the following three steps.
1. Complete Application
You can apply online or download the necessary forms from our website.
2. Verify Personal Information
- U.K. Residents: You are not required to submit additional information at this time.
- Residents outside the UK: Please 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 licence, bank statement, etc). Required of all authorised signatories of this account.
New account paperwork can be faxed, emailed or mailed.
Fax: +44 020 7929 2010
Email: newaccounts@forex.com
Mail:
FOREX.com
Attn: New Accounts
12 Camomile Street, 9th Floor
London EC3A 7PT
3. Fund Your Account
Once your account is open, there are four convenient ways to fund your new trading account:
- Credit or Debit card
- Wire transfer
What is the best way to send new account paperwork?
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The fastest method to send new account paperwork is by fax or email. New documents should be faxed to +44 020 7929 2010 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
12 Camomile St, 9th Floor, London EC3A 7PT
How do I know if my account has been opened?
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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.
There are two easy ways to fund your account.
Wire Transfer - The fastest and easiest way to fund your account. British Pound (Sterling), Euro and US Dollar are accepted.
Credit or Debit Card
To Fund your account: Login to Website Trading and visit the HOME tab > Add/Withdraw Funds.
When will my funds be posted to my account?
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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 or Debit Card - within 24 hours of receipt
What happens to my open positions at the end of the trading day?
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Unless specific settlement instructions are provided, FOREX.com will automatically roll forward all open positions at the end of each business day, 5:00 pm EST. All rolls will be done at competitive rollover rates, and depending on the currency pairs involved, the interest rate differential between the two currencies and the margin employed on the trade, a credit or debit will be applied directly to the account balance, reflecting interest paid or earned on each open position held overnight.
For details see the Dealing Handbook
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 via wire transfer will incur a fee of £15 or currency equivalent.
Withdrawal requests are processed within two (2) business days of receipt.
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.
