Frequently asked questions
- COMPANY QUESTIONS
- Q: Are you a registered brokerage?
A: FXCL Markets is registered in Botswana under the Number UIN BW00005716042. Its registered office: Plot 54368 Western Commercial Road, The Hub, Itowers, Cbd, Gaborone, Botswana.
- Q: Do you solicit citizens of all countries?
A: FXCL Markets does not solicit residents of Japan, Vanuatu, USA and Canada to open trading accounts. Citizens of mentioned counties (regardless of residence) are not accepted. Residents and citizens of the UN-sanctioned countries are also not accepted.
- Q: Are you a registered brokerage?
- SERVICE QUESTIONS
- Q: What should I do if my balance goes negative?
A: In FXCL your risks are limited to the size of your initial investment. If your balance goes negative after a Stop Out your losses will be fully covered thanks to our Negative Balance Protection program[2].
- Q: What is the minimum deposit amount?
A: In FXCL Markets you can deposit as small as $1. Note that this deposit amount may be sufficient for trading on cent account types (Cent & Interbank Cent). For the other account types, please view the Minimum required balance recommendations.
- Q: How can I open an account in FXCL?
A: In order to register a profile in FXCL Markets you just need to complete a short online application form.
- Q: How to fund my trading account?
A: In order to deposit your account you just need to complete a short online form in your Trader's Cabinet.
In FXCL Markets you can easily deposit your account via payment systems listed at Deposit and Withdrawal page - Q: What are the fees for deposit and withdrawal?
A: FXCL Markets does not charge any additional fees for deposits and withdrawals, but payment systems may charge transaction fees. FXCL Markets conducts a promotional fee coverage campaign for some payment systems, you can see the details at the Deposit and Withdrawal page.
- Q: How long does it take to deposit funds?
A: Most of our payment orders are processed instantly, so you will be able to see the funds at the balance of your account immediately after your request. Local Bank deposits are usually processed during 30-180 minutes.
- Q: How long does it take to process a withdrawal request?
A: In FXCL Markets we intend to make our cooperation with customers quick and convenient and therefore withdrawal requests usually take from a couple of hours to 1 business day to process.
- Q: Can I make an internal transfer between two accounts?
A: Internal transfer between two accounts is allowed if both accounts belong to the same person, have the same currency, and same deposit method.
Internal transfers are not allowed:
1. Between swap and swap-free accounts
2. Between MAM or ECN Pro Copy and other types of accounts, except ECN Pro*
3. Between ECN Pro and other types of accounts, except MAM or ECN Pro Copy*
4. Between accounts with different fixed rate terms.
*Transfers between MAM accounts and from MAM to ECN Pro accounts will be delayed until rollover if requested outside the rollover window. Transfers from ECN Pro accounts to MAM are processed normally. Transfers from MAM accounts that are not following a manager to ECN Pro accounts or other non-following MAM accounts are processed normally.
Transfers between ECN Pro Copy accounts and from/to ECN Pro Copy to/from ECN Pro accounts are processed normally. - Q: What should I do if I forgot/lost my trading account password?
A: In this case, you send a request to support@fxclearing.com or contact us via the Contact us form or LiveChat and our Support Team will send a new password to your email. The password renewal will take from few minutes to one business day at most.
- Q: What should I do if I forgot/lost the password from my Trader's Cabinet?
A: In this case you should use the "Forgot your password?" option and follow the instructions.
- Q: How many live accounts can I open?
A: If your Trader's Cabinet is not verified, you will be able to open one (1) live account of each type only, meaning one of Standard type, one of Cent type, and so on. With verified Trader's Cabinet you will be able to open eight (8) live accounts of each type, meaning eight accounts of Standard type, eight of Cent type, and so on.
- Q: What if I want to open more than eight (8) live accounts of each type?
A: If you want to open more than eight (8) live accounts, send a request to the Support Team, specifying the reason. Or, you can disable the old live accounts of this type which you don't need, and therefore you will instantly be able to open new live accounts of the same type.
- Q: How many demo accounts can I open?
A: You can open up to twenty (20) demo accounts of each account type. If you are willing to open more demo accounts, send a request to the Support Team, specifying the reason.
- Q: What is "frozen" order on Zero Spread instruments and when is it unfrozen?
A: Instruments with # in the name are Zero Spread instruments and orders opened with these instruments will be frozen after opening until these conditions are fulfilled:
- The order will stay "frozen" until it passes more than 3 pips (4th digit).
- The order will stay "frozen" until more than 180 seconds elapse after the order opening.
Both conditions need to be fulfilled for order to unfreeze. - Q: Why the prices on ECN Pro account charts do not match the prices in Market Watch?
A: Because on the ECN Pro accounts the price feed which is used to form prices on the charts is an aggregated generic feed from many market sources while the prices in Market Watch are formed based on an actual price feed from the liquidity provider. Therefore always base your trading decisions on the prices from Market Watch only, not from prices on the charts.
- Q: What is the difference between MAM and Copy Trading systems?
A: Multi-Account Manager (MAM) and Copy Trading systems are both methods used in online trading to manage multiple trading accounts.
Both Multi-Account Manager and Copy Trading systems involve managing multiple trading accounts, they differ in terms of control, decision-making, risk management, and level of involvement for both traders and investors.
They have distinct differences:
MAM: Multi-Account Manager allows a trader (often a fund manager or professional trader) to execute trades on multiple accounts simultaneously.
The decision-making process in a MAM system is centralized and controlled by the trader managing the master account. Trades are executed based on the trader's analysis, strategy, and discretion. Generally, the larger the account, the larger the trade volume allocated to it. This ensures a proportional distribution of trading volume according to the size of the account and the risk that the trader or investor is willing to take.
Risk management in a MAM system can be tailored to each individual account, allowing for customized risk profiles based on account size, investor preferences, and trading strategy.
Copy Trading: In Copy Trading systems, investors can automatically replicate the trades of a selected trader (the signal provider) into their own trading accounts. Risk management in Copy Trading systems depends on the risk profile of the signal provider.
Investors essentially inherit the risk associated with the trading strategy of the signal provider they choose to follow.
Copy Trading systems are more passive, as investors simply select a signal provider and let the system automatically replicate their trades.
- Q: What should I do if my balance goes negative?
- TRADING TERMS QUESTIONS
- Q: Where can I see recommendations about the minimum required balance for my account?
A: You can view it on the Trading Calculator page.
- Q: Are your spreads fixed?
A: Spreads for ECN accounts are floating while spreads for Standard and Cent accounts are normally fixed. Note that the spread size may not always be guaranteed, as 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. You can always find a full spread list on our website.
- Q: What are qualified trades?
- Q: What is your hedging policy?
Hedging is fully allowed except hedging between swap and swap-free accounts. Violation of this rule may lead to closure of positions, blocking of accounts, or other compulsory measures.
- Q: What happens to my trading account if I don't use it?
A: Your trading account will be put into the archive database if its inactivity period (time since the last connection to the account) reaches 90 days from the last login to the MT4 account.
To restore the account you should send a request to support@fxclearing.com. Your account will be activated and all leftover funds will be added to the balance.
If your account remains inactive for 32 days or more it might be charged with an inactivity fee. - Q: Which Expert Advisors can I use while trading?
A: All types of EAs are allowed[1].
- Q: What is the Server Time?
A: It is set to GMT+3 in summer and GMT+2 in winter. Since 2001, EU summertime arrangements have been governed by Directive 2000/84/EC, setting out the obligation on all Member States to switch to summer-time on the last Sunday of March and to switch back to their standard time ("winter-time") on the last Sunday of October.
- Q: What is the leverage size for trading account?
A: Leverage depends on equity and changes automatically.
Cent
from 1 to 1000 - 1:1000
from 1000 to 7000 - 1:500
from 7000 to 15000 - 1:200
from 15000 to 20000 - 1:100
from 20000 to 40000 - 1:25
from 40000 and up - 1:10Start
from 1 to 500 - 1:2000
from 500 to 1500 - 1:1000
from 1500 to 5000 - 1:500
from 5000 to 10000 - 1:200
from 10000 to 15000 - 1:100
from 15000 to 30000 - 1:50
from 30000 and above - 1:10Standard/Interbank Cent
from 0 to 5000 - 1:500
from 5000 to 10000 - 1:200
from 10000 to 15000 - 1:100
from 15000 to 20000 - 1:50
from 20000 to 40000 - 1:25
from 40000 and above - 1:10Interbank Standard
from 0 to 7000 - 1:500
from 7000 to 10000 - 1:300
from 10000 to 15000 - 1:200
from 15000 to 30000 - 1:100
from 30000 to 40000 - 1:50
from 40000 to 50000 - 1:25
from 50000 and above - 1:10ECN Pro
from 1 to 20000 - 1:300
from 20001 to 40000 - 1:200
from 40000 and up - 1:100Live Contest
from 1 to 2000 - 1:1000
from 2000 to 5000 - 1:500
from 5000 to 10000 - 1:200
from 10000 to 15000 - 1:100
from 15000 to 30000 - 1:50
from 30000 and above - 1:10 - Q: Does leverage depend on trading volume?
A: Yes. If the trading volume of current open positions on your account exceeds the amount stated below, the leverage will be automatically lowered to 1:100:
- Start account, Live Contest account - 10 non-hedging standard lots;
- Cent account - 15 non-hedging standard lots;
- Standard, Interbank Standard and Interbank Cent accounts - 20 non-hedging standard lots. - Q: Where can I see a full list of swaps?
A: You can find a full swap list in your MetaTrader 4 platform. Right-click any trading instrument in the "Market Watch" section and then left-click the "Specification" option in a dropdown menu. The list of long 0and short swap rates for the selected currency pair will appear in a pop-up window.
- Q: Can I use scalping EAs or strategies on your fixed spread accounts?
A: No, such accounts are not designed for scalping, but for a position trend trading. If you want to use any scalping EAs or strategies - the best account which fits perfectly for it is the ECN Pro account.
- Q: Where can I see recommendations about the minimum required balance for my account?
- EXECUTION QUALITY QUESTIONS
- Q: Do your clients experience re-quotes?
A: Very rarely. There are no re-quotes at all on all accounts with market execution.
- Q: Do your clients experience delays in execution?
A: Orders are executed almost instantly. If you experience delays in execution try checking your Internet connection first. The delays might be caused by low Internet traffic, low connection speed from your side, your Internet provider's latency in connecting to our servers, and so on.
- Q: Do your clients experience re-quotes?
- MT4 PLATFORM QUESTIONS
- Q: Do you have MT4 installation for linux/ubuntu? Where can I download it?
A: You can download the MT4 installation for Ubuntu following the link below:
http://www.winehq.org/download/ubuntu - Q: What does "[so/a: -135.0% -2430.0/1800.0]" in the order comment mean?
A: Such 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. - Q: Which price (BID or ASK) is used to draw the chart bars and for trading?
A: Pay attention to 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 see the ASK price as well, 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 only.
- Q: Do you have MT4 installation for linux/ubuntu? Where can I download it?
- IB PROGRAM QUESTIONS
- Q: What is an IB Program?
A: It is a program for those who want to get paid for their introducing skills. It can be either a source of your additional income or a full-time business. More details here: https://www.fxclearing.com/ib-program
- Q: How do I sign up as an IB?
A: If you have no cabinet registered with us, please register as IB here: https://www.fxclearing.com/applyib. If you have already been registered with us as a client, you need to go to Introducing Broker > IB account.
- Q: Can I open an IB account without verifying my cabinet?
A: Yes
- Q: In order to take part in the IB program, do I need to be a client at FXCL first?
A: Yes, you need to register as the IB first to join the IB program at https://www.fxclearing.com/applyib
- Q: Are there any fees to join the IB program?
A: No, only rewards
- Q: Do I need to have a website to join the FXCL IB Program?
A: No, but if your business plan requires it - we can create it for you for free
- Q: Where do I access my IB referral link?
A: The IB links could be found in your IB cabinet at https://www.fxclearing.com/my/ib/settings
- Q: Can I see the clients who have signed up under my IB referral link?
A: Yes, you can view them directly in your cabinet here: https://www.fxclearing.com/my/ib/refferals
- Q: When is my IB commission paid?
A: The IB commission is paid instantly right after your introduced client closed their trades. The sub-IB commission is paid on a daily basis. For more details, please view the IB Program page.
- Q: What is the IB commission per standard lot that I will receive?
A: It depends on an account type and an instrument your introduced clients use for trading. Values of the IB commission could be found at https://www.fxclearing.com/ib-program.
- Q: Is there a limit to the IB commission amount I can receive?
A: No limits.
- Q: Is there a difference between IB (Introducing Broker), Introducing Agent, Introducer?
A: No difference.
- Q: How can I withdraw my IB commission?
A: To withdraw the IB commission, please go to your cabinet > Deposit and Withdrawal > Withdraw. Choose there your IB account and follow the instructions shown in the cabinet.
- Q: I want to become an IB, but don't know how to start?
A: You need to make a few steps to start:
1) Register as IB here: https://www.fxclearing.com/applyib;
2) Open the IB account in your cabinet at: https://www.fxclearing.com/my/ib/account;
3) Once the IB account is registered, please go to IB Settings and use the IB link to share with your introduced clients. In such a way, all your introduced clients will be registered under your IB link and you will be able to get the IB commission for their trades. - Q: May I provide signals or EAs to my clients?
A: Yes, you can - but in order to do it correctly, and not to harm neither your clients nor your standing - let us know before doing so, so we could guide you to do it the right way.
- Q: Will I receive a commission if I only have 1 client?
A: Yes. For more details, please refer to the IB Agreement, Section "Compensation".
- Q: What is the minimum distance between open and close price to receive the commission?
A: Please refer to the IB Agreement, Section "Compensation".
- Q: What is the minimum time between open and close price to receive the commission?
A: Please refer to the IB Agreement, Section "Compensation".
- Q: What are the IB program's limitations?
A: You can find the regulations of the IB program in the IB Agreement.
- Q: Where can I find the promotional materials such as banners and landing pages?
A: A list of standard banners can be found here https://www.fxclearing.com/banner-list. If you need anything else, please contact us via email at: support@fxclearing.com
- Q: What is the purpose of using the IB Statistics Report?
A: It helps you monitor the effectiveness of your IB links placed on the external sources.
- Q: How can I find a referral?
A: You can show the benefits of trading with FXCL to your friends and posting on your blog and other social media. Our IBs may use our free marketing materials for advertising, including FXCL banners and live quotes indicators.
- Q: What is the maximum level I can reach with my network in the Additional IB Commission Program?
A: It's the Platinum level, based on the Additional IB Commission Program.
- Q: Will this IB Program become a regular source of income for me?
A: Our IBs receive passive income from their clients' trades. FXCL offers the IB commission sharing tool to get the loyalty of clients and encourage them to trade. The more your introduced clients trade, the higher IB commission you may get.
- Q: May I manage my clients' accounts as a money manager?
A: Yes, you can, using our MAM platform. More details at: https://www.fxclearing.com/mam-manager
In case you're planning to manage clients' accounts in a different way, it can be managed and achieved by means of the Limited Power of Attorney (shortly - LPOA). So, please contact us via email: support@fxclearing.com - Q: May I bring someone else to manage my clients' accounts?
A: Yes, you can bring someone else to manage, or you can contact us to recommend you a third-party manager. In both cases, contact us at support@fxclearing.com
- Q: Can you recommend me a money manager who could manage my clients' accounts?
A: You can choose the most profitable and consistent Money Managers (MM) here: https://www.fxclearing.com/mam-rating
- Q: Can you recommend me a signal provider whose trades I could copy?
A: You can choose the most profitable and consistent Signal Providers here: https://www.fxclearing.com/copy-trading/rating
- Q: Can Master IB set up his own commission in his network?
A: Yes. In order to set your own commission please send us a detailed request to support@fxclearing.com
- Q: What is an IB Program?