Frequently asked questions

• COMPANY QUESTIONS
  • Q: Are you a regulated brokerage?

    A: FXCL Markets Ltd, registered in April 2016, is licensed and regulated as a "Dealer in Securities" by the "Ministry of Finance and Economic Management" in accordance with the "Dealers in Securities (Licensing) Act [CAP 70] of the Republic of Vanuatu.

  • Q: Do you solicit citizens of all countries?

    A: No, 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.

• SERVICE QUESTIONS
  • Q: What is the minimum deposit amount?

    A: In FXCL Markets you can deposit as small as $1.

  • 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 can I verify my Trader's Cabinet?

    A: In order to verify your profile you need to upload clear readable copies of the following documents to your Trader’s Cabinet:

    1. A proof of your ID - passport, driver's license, or national ID (make sure the document has your photo on it and is still valid)

    2. A proof of your address - utility bill, land line telephone bill, mobile phone bill, bank account statement, or credit card statement. The document should display your name, your full home address, and should be issued no longer than three months before the uploading day.

  • 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 do 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.
    The limits for fee coverage are $500 for deposits and $100 for withdrawals per trader per month.

  • Q: How long does it take to deposit funds?

    A: OKPAY and PerfectMoney deposits are processed instantly, so you will be able to see the funds at the balance of your account immediately after your request. Wire Transfer might take 2-5 business days to reach your account. Local Bank deposits are usually processed during 1-2 business days.

  • 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 couple of hours to 1 business day to process (rarely, up to 2 business days).  

  • Q: What fees, charges, interests, or commissions do you charge for trading?

    A: We have no commission* on most account types. The commission for ECN Interbank and ECN Plus accounts stands 0.6 pip per lot. Also, in the case of non-using account an inactivity fee may be charged.
    * Aggressive users of non-qualified trades who highly violate our rules might be charged with commission set at our sole discretion.

  • 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. Transactions between swap and swap-free accounts are forbidden. 

  • 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 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.

    In an emergency situation you can contact us via Skype "fxclearing.password" and your request will be satisfied in a few moments. Note that only password questions are answered via this Skype contact.

  • 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: What is the minimum possible amount of commission for dollar IB accounts?

    A: The minimum commission for dollar IB accounts is $0.01. A commission is rounded according to arithmetic rules.

  • Q: How can I receive the IB commission which is less than minimum available amount?

    A: You can request to be moved to Micro Cent IB account type so that you could receive a commission as small as 0.01 USD100 (1/100 of a US cent).

  • 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 Mini type, one of Micro cent type, and so on. With verified Trader's Cabinet you will be able to open five (5) live accounts of each type, meaning five accounts of Mini type, five of Micro cent type, and so on.

  • Q: What if I want to open more than five (5) live accounts of each type?

    A: If you want to open more than five (5) 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.

• TRADING TERMS QUESTIONS
  • Q: Are your spreads fixed?

    A: Spreads for ECN accounts are floating while spreads for Mini and Micro 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 is your minimum pip distance for all types of conditional orders?

    A: All conditional orders (entry, stop, limit) are subject to the following rules:
    • If spread is 3 pips or less: the distance between the conditional order and the market price must be 7 pips or greater.
    • If spread is 4 pips or greater: the distance must be at least equal to double the spread.

  • Q: What is the maximum permitted order size for a single position?

    A: For Mini, ECN Light, ECN Interbank, and ECN Plus accounts the maximum position size is 2 standard lots (20 mini lots, 200 micro lots); For Micro account the maximum order size is 1 standard lot (10 mini lots, 100 micro lots).

  • Q: What is your policy regarding usage of non-qualified trades?

    A: Non-qualified trades are prohibited for all account types except ECN Plus.
    Non-qualified trades are trades which take profit or loss less than triple spread (3 pips or less) and/or are kept open for less than 3 minutes.
    If 50% or more of your trades were non-qualified, your strategy is defined as aggressive. The strategy which includes frequent opening/modification/closing of positions/orders (usually more often than once every 10-15 minutes) is also defined as aggressive usage of non-qualified trades.
    Aggressive usage is prohibited for all account types. These rules apply to all trades regardless of the market situation.

  • 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.
    Hedging is a trading strategy where your trades for the same currency pair are simultaneously open in the opposite directions.

  • Q: Are all my trades calculated towards bonus withdrawal?

    No, only qualified trades are calculated towards bonus withdrawal.

  • Q: What is the commission size on ECN Plus and ECN Interbank accounts?

    The commission is 0.6 pip per lot. For 5-digit price feed the commission equals to 60% of the 10 pip per 1 lot.

  • 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 and its balance is less than $50.
    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.

  • Q: Can I use Expert Advisors while trading?

    A: All types of EAs are allowed for ECN Plus account. For other account types Grid/Martingale-type and other spamming EAs which overload the server are prohibited. Most other EA types are allowed.

  • Q: Do Margin Call and Stop Out levels depend on the account type?

    A: Yes, MC/SO levels depend on the account type you selected: 30%/10% for Micro Cent and Mini account types, 60%/40% for ECN Light and ECN Interbank, and 100%/70% for ECN Plus accounts.

    Please be aware that the Margin Call and Stop Out levels might be changed on Fridays at 21:00 (Server time) to 70%/40% or 100%/70%, depending on the account type. Should MC/SO levels change, they will switch back to their regular values on Monday between 01:15 and 01:30 (Server time).

  • Q: Do the margin requirements for Forex and metals match?

    A: No. The leverage for Forex instruments is twice as much as the leverage for metals.

    Example: If leverage for Forex instruments is 1:1000 - leverage for metals will be 1:500.

• EXECUTION QUALITY QUESTIONS
  • Q: Do your clients experience slippage?

    A: Very rarely.

  • Q: Do your clients experience unauthorized disarming of conditional orders?

    A: Never.

  • Q: Do your clients experience unauthorized execution of orders or introduction of positions?

    A: Never.

  • Q: Do your clients experience incessant platform freezing?

    A: FXCL Markets Support Team makes sure our platform is stable and reliable throughout the market hours and thus such incidents have never happened so far.

  • Q: Do your clients experience re-quotes?

    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.

  • Q: Do your clients experience delays in execution?

    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.

  • Q: Do your clients experience "Stop Hunting"?

    A: Never.

  • Q: Do I have to cover the negative balance on my trading account with a new deposit if I have lost all my funds during trading?

    A: In this case you don't have to deposit funds to recover the balance of your account. Just send a request to support@fxclearing.com 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.

• 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.