Frequently asked questions
- COMPANY QUESTIONS
- Q: Are you a registered brokerage?
A: FXCL Markets Ltd. is registered on Saint Vincent and the Grenadines.
- 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.
- Q: What is the required deposit amount for Copy Trading account?
A: The deposit amount for Copy Trading account is as follows:
• Minimum - $150
• Recommended - $300
• Professionally Recommended - $1,000. - 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. Wire Transfer might take 2-5 business days to reach your account. 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 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.
- 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 not allowed.
- 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: 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.
- Q: What is copy trading?
A: It's a type of trading where you automatically copy strategies from professionals. You can select and follow several traders at once and configure how their trades are copied.
- Q: Which account type should I open for copy trading?
A: Copy trading is available at ECN Copytrade account. You can open one at [Open Live Account] page in your cabinet.
- Q: What should I do if my balance goes negative?
- 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 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.
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 60 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.
- Q: What is the leverage size for trading account?
A: Leverage depends on equity and changes automatically.
Micro Cent Mini/ECN Cent ECN Interbank ECN Plus 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 - 1:10from 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 - 1:10from 0 to 7000 - 1:500
from 7000 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 - 1:10from 0 to 5000 - 1:500
from 5000 to 10000 - 1:200
from 10000 to 30000 - 1:100
from 30000 to 50000 - 1:50
from 50000 and above - 1:10 - 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 and short swap rates for the selected currency pair will appear in a pop-up window.
- Q: Are your spreads fixed?
- EXECUTION QUALITY QUESTIONS
- Q: Do your clients experience re-quotes?
A: Very rarely.
- 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?