Account Information FAQs
What's the difference between a demo and live trading account?
Back To Top
The primary difference is that here is no capital at risk when trading in a demo account. A FOREX.com demo account features real-time quotes and charts, along with all the basic trading tools and much of the information you'll have access to as a FOREX.com customer, including single and contingent order types, a real-time newsfeed, up to the minute market commentary, daily and weekly research, and more. Results achieved on the FOREX.com demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.
When you open a live, funded account, you'll have broader access to exclusive content generated daily by our senior traders and research team, as well as access to advanced charting packages provided by FOREX.com and third party providers.
To renew your demo account beyond 30 days simply call us at +44 20 7429 7900 or click here to chat live with a representative.
How much money do I need to open an account?
Back To Top
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 (0) 20 7236 4870
Email: newaccounts@forex.com
Mail:
FOREX.com
Attn: New Accounts
23 College Hill, 3rd Floor
London, EC4R 2RT
3. Fund Your Account
Once your account is open, there are two convenient ways to fund your new trading account:
- Credit or Debit card
- Wire transfer
What is the best way to send new account paperwork?
Back To Top
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?
Back To Top
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.
Credit or Debit Card - The fastest way to fund your account
Wire Transfer - Funds are typically available after 1-2 days
To Fund your account: Login to Website Trading and visit the HOME tab > Add/Withdraw Funds.
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.
What happens to my open positions at the end of the trading day?
Back To Top
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.
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.
