FREQUENTLY ASKED QUESTIONS
A: FXCL was registered in the Commonwealth of Dominica on August 29th, 2008, under the International Business companies (IBS) Act of 1996. The company is also regulated in Russia by the Financial Market Relations Regulation Center, Certificate #TSRF RU 0394 AA Vv0015.
A: FXCL Group does not solicit residents of Canada, USA, Iran, Iraq and South Korea to open trading accounts.
A: The minimum deposit amount is $1.
A: 1. Complete the online application.
2. Upload the following documents to the Trader’s Cabinet:
ONE proof of address:
* Utility Bill, or
* Land line telephone bill, or
* Mobile phone bill, or
* Bank account statement, or
* Credit card statement
One proof of ID:
*National ID card.
A: Payment is performed via LibertyReserve and OKPay.(and Local deposits)
To fund the your account please login to the Trader’s Cabinet, select the option “Deposit Funds” and complete online depositing form.
A: Liberty Reserve and OkPay deposits are processed instantly, so you will be able to see the deposit at the balance of your account immediately after you’ve sent it. Local Bank deposits are usually processed during 1 business day.
A: It usually takes from a couple hours to 2 business days to process withdrawal requests
A: * No commission (unless you are an aggressive scalper for whom
certain commission could be set at our sole decision).
* No inactivity fees.
* No rollovers.
* Commission for ECN Interbank and ECN Scalping accounts is 0,6 pip per lot.
A: You can write to us on e-mail firstname.lastname@example.org – your password will be changed in several hours or within one business day.
TRADING TERMS QUESTIONS:
A: You can find information about our spreads by clicking here. Spreads are normally fixed, but they may not always be guaranteed. During the major news announcements and/or extremely volatile market conditions spreads may be expanded without any prior notification. There are no specific limitations or conditions on spread widening, and in most cases it does not depend on us, but rather on the general situation on the market.
A: All conditional orders (entry, stop, limit) are subject to the following rule:
* If spread is less than 5 pips: distance between any conditional order and market price must be 10 pips or greater.
* If spread is 5 pips or greater: distance must be at least equal to double the spread.
A: For Mini, ECN Interbank and ECN Scalping accounts: 2 standard lots (20 mini lots, 200 micro lots); For Micro and Nano-Cents accounts: 1 standard lot (10 mini lots, 100 micro lots, 1000 nano lots).
A: Scalping is prohibited for all accounts except ECN Scalping.
Scalping is defined as a trading style where your trades take profit or loss less than triple spread (at least 8 pips), or are kept open for less than 8 minutes.
AGGRESSIVE scalping is defined as a strategy where 30% or more of your trades were closed by scalping, which also features frequent opening / modification / closing of positions/orders (usually more often than once every 10-15 minutes).
AGGRESSIVE Scalping is prohibited for all accounts.
These rules apply to all trades regardless of the market situation.
The commission is 0.6 pip per lot, for 5-digit price feed the commission is equal to 60% of the 10 pip per 1 lot.
A: Please be aware that the Trading Account can be put into the Archive database if its inactivity period (time since the last connection to the account) reaches 90 days and if the balance of the trading account is below 500$.
To restore the account its owner should sent a request via e-mail to the FxClearing support service. All leftover funds will be restored after the restoration of the trading account upon a client’s request.
A: All types of EAs are allowed for ECN Scalping accounts. For other account types: Grid/Martingale-type EAs are not allowed. Most other EA types are allowed.
EXECUTION QUALITY QUESTIONS:
A: Very rarely.
A: Has never happened yet, and we make sure our platform is stable and reliable throughout the market hours.
A: Re-quotes occur when the market price has changed before our servers received an order. You cannot receive a fill for a price which does not exist on the market. Prices move simultaneously for all traders, so each trader is trading on the same prices. In any case, most accounts use automatic execution, and re-quoting happens very rarely.
A: Orders are executed automatically, within 2-5 seconds. One possible factor is the latency of getting your order through to our servers, and getting a response back, confirming that your order has been executed or that the price has changed. This depends on internet traffic, your own connection speed, and your Internet provider's latency in connecting to our servers, and so on.
A: In this case you don't have to deposit funds to recover the balance of your account. Just contact us via e-mail or live chat requesting to reset the balance of your trading account to "zero". Thus you won't have to open an additional account to make a new deposit and will be able to continue trading with your old account.
A: You can download the MT4 installation for Ubuntu following the link below:
A: When you register for a Demo account on our website, choose "Mini" in the Account Type field.
When you click submit, your Login and Password will be shown on the confirmation page. You will also receive an email with this Login and Password.
On the same confirmation page, you can download the MetaTrader 4 software. If you have already done this, you only need your login and password.
When you start MetaTrader 4 for the first time, you will be prompted to create a new account – Please REJECT this offer!
As you already have a demo account, press cancel, and authenticate with the login and password you were provided on the confirmation page.
A: Such a comment means that the order has been closed due to a StopOut procedure. Definitions:
* so - StopOut procedure;
* /a - executed by manager automation;
* -135.0% - level of margin requirement;
* -2430.0 - current equity;
* 1800.0 - current margin;
A:Be aware of the following universal rule which helps you to find the correct price of your order on the chart:
• * All charts on the MT4 platform are ALWAYS built using the BID price only!
• * All BUY orders are executed at the ASK price and closed by the BID price;
• * All SELL orders are executed at the BID price and closed by the ASK price.
If you want to also see the ASK price: right click on the chart -> Properties -> Common -> Show Ask Line.
In this case you will see a second price line, indicating the ASK price.
Please note that historical data, including bar data (high/low/open/close) will still use BID prices.