FAQ
1. GENERAL ACCOUNT INFO
Opening an account is quick and easy. Create a login, register, deposit funds and send in the correct documentation. See our section on opening an account. We strive to make it as simple as possible to open an account. If you provide the correct documentation, you can open an account in minutes . Your account executive and our dedicated customer support service will keep you updated. Get in touch with our customer service center via phone, email or chat if you have any further questions.
Deposit / Funding
You can open an account with as little as $100 for our web based platform and $2000 for the MT4 platform.
We process all wire transfers as soon as we receive confirmation from the credit card company. Funding via credit card is virtually instantaneous; however we stress the need for you to send a copy of the credit card as soon as possible in order to avoid any delays.
Withdrawal
Withdrawals are done via the platform, by simply clicking on the "Withdrawal Request" tab and following the prompts. You shall receive your money in approximately 5 and no later than 10 working days from the approval of your request; wire transfers may take a little longer. To give you peace of mind, you may check the progress of the transaction at any point in time by clicking on the "Withdrawal Status" tab located inside the platform. For more information on withdrawals and to view the
Withdrawal FAQ page click here
.
Demo Account
Our demo accounts allow you to practice trading on our platform with real-time market data and fictional money. It’s a chance for you to familiarize yourself with our platform, or test a strategy before putting real funds at risk.
2. DOING BUSINESS WITH XFOREX
First of all XForex provides the highest standards of security as it is registered and authorized under O.C.M Online Capital Markets Limited by CySEC - Cyprus Securities Exchange Commission - under license number 108/10. Xforex operates under Markets in Financial Instruments Directive (MiFID).
Our proprietary technology is the best in the business. We are a broker with a different kind of philosophy. We believe helping our clients is the best way to grow our business so we offer the best forex trading education and superior customer service.
Placing an order over the phone at XForex is nearly as easy as placing an order on our platform. Just call our dealing desk and the order is executed instantly.
You can trade on our platform anywhere there is an internet connection or call our dealing desk from anywhere with a phone connection. Please refer to restriction policies stipulated under the Regulation section
For technical difficulties our customer support center is unrivaled. We have 24-hour service that includes a live chat, quick-reply email, toll free numbers and a service that lets you request a call back.
If for any reason you are unhappy with our services and you wish to file a complaint please go to the page - XForex Legal page to download the complaint form, fill it in and E-mail it to compliance@xforex.com. An officer from the compliance department shall receive your claim and provide you with a response within 3 working days. Please make sure that your complaint could not be solved with the customer support service beforehand (You may contact the customer support service through Live Chat or E-mail: support@xforex.com).
3. TRADING BASICS
The forex market is an international electronic network of buyers and sellers with no central exchange. It’s a true market; buyers and seller looking for the best price. And because there is no exchange, there are no exchange fees, no commissions and no government interference. The fairness is guaranteed by the huge size of the market, currency quotes are easily available on the internet from many sources.
Interest rates are based on the international debt market so they change all the time. To get the latest rates, talk to your dedicated account executive.
Currency deposits are converted to US Dollars and Maximum Leverage available 1:400.
Forex trading is a highly leveraged activity that carries considerable chance of gains and losses, you should always read the full risk disclosure.
We offer fixed spread because we know that traders don’t like surprises.
Maintenance Margin Requirements 0.5% of the total position.
Margin is what makes leveraged trading possible. It's the amount you hold in your account to cover volatility and potential losses. For more, see our section on leverage.
Your trading history is stored inside the trading platform, in the reports section.
Be cautious of your account value may have fallen below the margin threshold or dropped to $0. Please get in touch with our customer center to find out.
If you wish to change your password log in the trading platform: it’s under My Account, then User Preferences
