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Questions about Spec Markets

What account types does Spec Markets offer?

Spec Markets offers two types of accounts, Standard account and our market leading, Raw Spread account.

ECN Account: This account shows the raw inter-bank spread received from our liquidity providers. There is a commission charge of USD$7 per standard lot round turn.

Standard Account: We do not charge a commission on Standard accounts but instead, there is a markup applied to the spread of 1pip above the raw Inter-bank rate received from our Liquidity providers.

Further information about the different types of trading accounts available can be found on our  Account Overview page.

What’s the difference between Standard Account and ECN Account?

At Spec Markets, we offer two main account types with different pricing structures to suit various trading styles:

  • Standard Account:

    There are no commission charges on Standard Accounts. Instead, we apply a markup to the spread received from our liquidity providers. This provides a simple, all-inclusive cost structure ideal for traders who prefer transparent, commission-free pricing.

  • ECN Account:

    Our ECN Account displays the raw interbank spreads sourced directly from our liquidity providers. On this account, we charge a commission of USD $3.50 per standard lot (round turn). This structure is designed for traders who seek the lowest possible spreads with a fixed, transparent commission.

What are the fees and commissions charged by Spec Markets?

There are two trade account types, a Standard account and ECN account. Spec Markets does not charge a commission on Standard accounts but instead applies a spread mark up of 1 pip above the raw inter-bank prices received from our liquidity providers. ECN account shows the raw inter-bank spread received from our liquidity providers. On this account we commission of USD$7 per standard lot round turn.

Below are commission rates for different base currency accounts:

USD7.00 round turn
EUR6.50 round turn
GBP5.50 round turn
SGD9.50 round turn
JPY1100.00 round turn
HKD54.25 round turn
What is the minimum amount needed to open a trading account?

Spec Markets allows clients to open an account with as little as USD $50.

What are your trading conditions?

Our mission is to provide traders with the lowest spreads and fastest execution possible. To learn more about our product offerings, please check out our website.

We also strongly recommend that you thoroughly read our Terms and Conditions  , which outline the associated costs, risks, and your responsibilities, before deciding to trade with us.

Is Spec Markets an ECN/STP broker or a Market Maker?

This is one of the most frequently asked questions. The challenge in answering it lies in the fact that the terms ECN and STP have been interpreted differently across the industry. Broadly speaking, there are three primary business models used by Forex brokers, which differ based on how transactions are handled, and orders are executed: ECN, STP, and Market Maker.

ECN (Electronic Communication Network):

ECN refers to a network that electronically connects banks and liquidity providers to form bid and ask prices. In the Forex industry, ECN is commonly associated with brokers who stream raw interbank pricing directly to retail clients. Under this model, trades are typically executed at these raw prices and may be offset internally, with another client, or with a liquidity provider. ECN models generally offer tighter spreads and faster execution.

STP (Straight Through Processing):

STP brokers pass clients' trades directly to liquidity providers without any dealing desk intervention. Prices are streamed from the liquidity provider and passed on without any markup or internal processing. This model is similar to ECN in that it aims to deliver transparent pricing and execution, though the technical infrastructure may differ.

Spec Markets’s Execution Model:

Spec Markets is the issuer of the products it provides. We consider ourselves a Forex and CFD provider offering ECN pricing. We source prices from external, unrelated liquidity providers and pass these on to our clients without any dealing desk intervention.

To enhance price certainty and ensure fast execution, we do not offset each and every position with our liquidity providers. This approach allows us to deliver a better overall trading experience while maintaining tight spreads and rapid execution.

How do you execute my trades?

When you trade with us, you are trading with Spec Markets as principle, this is the case with all Forex and CFD providers globally.

We do not operate a proprietary trading book, we source our prices from external unrelated liquidity providers or directly, these prices are then passed onto you with no dealing desk intervention.

How are Spec Markets’s prices derived?

Spec Markets streams prices from its liquidity providers, who, in their turn, derive those prices from the market (or exchange) in the case of Stocks CFDs and from banks and non-bank liquidity providers in the case of Forex. The source of the underlying market price may vary for each product.

Although Spec Markets’s prices come from its liquidity providers and Spec Markets is not practically involved in the making of the price, simply streaming prices which it receives, the prices nonetheless become Spec Markets’s prices when it provides them to its clients to trade on. This is the case for all derivative products which Spec Markets offers to its clients.

Is Spec Markets regulated?

Spec Markets is incorporated in Saint Lucia. While we are not required to obtain an additional license to operate in the FX/CFD industry under the jurisdiction of Saint Lucia, we are committed to adhering to industry best practices to ensure transparency, client protection, and operational integrity.

These practices include, but are not limited to:

  • Client money segregation, ensuring that client funds are held separately from company funds.
  • Robust risk management and compliance procedures.
  • Transparent pricing and execution policies.
  • Regular internal reviews to uphold the standards expected by our clients and the global trading community.

Although we may not be licensed by a traditional financial regulator, we take our responsibilities seriously and aim to provide a secure and trustworthy trading environment.

What happens to my funds if Spec Markets becomes insolvent?

Please note that all client funds are held in segregated client money accounts with top tier banks, away from the company’s own funds. Clients with a net credit balance at the time of insolvency will be paid from funds that are held in the segregated trust accounts.

How does Spec Markets use my personal information?

We only collect personal information which is reasonably necessary to provide you with quality products or services, conduct identification checks to meet our legal regulatory obligations and combat fraud. We do not sell your personal information to any third party for marketing purposes. Our  privacy policy  outlines how we handle our customers’ personal information in detail.

What leverage does Spec Markets offer?

Spec Markets offers flexible leverage options ranging from 1:1 to 1:1000. You can change the leverage on your trading account via your Client Area.

Can I have multiple trading accounts with Spec Markets?

Spec Markets allows you to open multiple trading accounts. You can open an additional trading account via your Client Area.

What time does Spec Markets open and close its prices?

The opening and closing times of Spec Markets prices are:

Opening time: 00:01 MT5 Server Time (Monday)

Closing time: 23:57 MT5 Server Time (Friday)

Please note the trading times of certain instruments may vary; you should refer to the relevant product section on our website for specific information.

Spec Markets’s rollover occurs at 00:00 MT5 Server Time.

What documents do I have to provide to open a live trading account?

Identification must be provided in the form of photo ID and proof of address to enable us to verify your identity.

Photo ID

  • Must be clear and visible
  • Must be issued by a government agency
  • Name, signature, expiry date and date of birth* must be clear

Proof of Address

  • Must be no older than 6 months
  • Must show the same name and address as your account application

Our AML & KYC Policy contains further information regarding our identification requirements.

Do I earn interest on funds deposited into my live trading account?

No, Spec Markets does not pay interest on account balances in any currency.

Are scalping and hedging allowed?

Yes, we allow both hedging and scalping trading strategies. Our spreads and trading conditions are the preferred choice of many day traders and scalpers globally.

Can I place an order over the phone?

Spec Markets is not able to open new positions over the phone. However, should you wish to close out positions, please call our support team and we will accept instructions from you.

If I stop trading, will I be charged an inactivity fee?

An inactivity fee is only charged if your account balance falls below USD $20 (or equivalent) and there have been no trading activities for three consecutive months.

If you decide to resume trading, the inactivity fee may be refunded at our discretion.

Are demo accounts the same as live accounts?

While demo accounts and live accounts provide similar trading experiences, the demo accounts are predominantly used for familiarizing yourself with the trading platform and educational purposes only. We do not guarantee that the performance of a demo account will be the same as that of a live account as our demo accounts are not connected to our live trading environment.

How are commissions charged according to trade size?

If you trade 100,000 (1.00 Lot)

Commission is $3.50 for opening, and $3.50 for closing; $7.00 for the full round-turn

If you trade 10,000 (0.10 Lot)

Commission is $0.35 for opening, and $0.35 for closing; $0.70 for the full round-turn

If you trade 1,000 (0.01 Lot)

Commission is $0.035 for opening, and $0.035 for closing; $0.070 for the full round-turn

On MT 5 commission is charged per side (opening/closing).

Why was my stop loss not filled at the requested price?

All trades are filled based on the prices we stream on our trading platforms. We adopt a market execution model whereby stop loss and take profits orders are triggered based on their pre-set conditions and executed at the price available at that time. We do not offer guaranteed stop loss orders.

Where can I find the swap rates?

Information regarding our  swap rates  can be found on our website. They can also be found from within the MT5 platform: simply go to Market Watch, right-click on an instrument and select ‘Specifications’. A new window will then open, and the swap rates will be displayed.

Why is there a triple swap rate?

Triple swap rates are charged on Wednesday. The reason for this is that spot Forex contracts have a two-day settlement period. For example, a spot Forex contract that occurred on Monday settles on Wednesday, a trade that occurred on Tuesday settles on Thursday, a trade that occurred on Wednesday settles on Friday, but a trade that occurred on Thursday settles on the following Monday. In this example, the trade that occurred on Thursday rolled through the weekend because the banks are closed on Saturday and Sunday. Triple rollover interest is applied to positions held open at 5pm New York time on Wednesday as this time marks the beginning of the new 24-hour trading day (Thursday).

You should note that swap rates can be negative or positive, depending on the currency pair traded and the prevailing interest rates at that time.

What is a dividend adjustment?

A dividend adjustment is applied to a share or index CFD position in the event of a dividend payment occurring in the underlying share or share constituent of an index. The ex-dividend date is the day a stock starts trading without its dividend payment. In the case of an index, an adjustment will be made that is equal to the number of points by which the index price must be adjusted downwards to take account of those shares in the index which go ex-dividend at the close of the cash market. The ex-dividend figure estimated by Bloomberg, rounded to the tick size we use for that index, is used to determine what adjustment to apply. In the case of long positions, the dividend adjustment is in the form a trading account credit. In the case of short positions, the dividend adjustment is in the form of a trading account debit.

Why hasn’t my order closed even though the market prices have moved to my requested take profit level?

The most common reason is that incorrect prices have been referred to. You must refer to the bid prices to check whether the requested take profit price level on a buy trade has been reached or not. However, in the case of a sell trade, you must refer to the ask prices. It is also important to note that a standard account has 1 pip mark-up on the raw spreads. This spread mark-up does not appear in bid prices recorded on the chart by default.

Why did my trade stop out below 50%?

Spec Markets’s margin stop-out level on all trading platforms is 50%, which means that if your account's margin level drops to or below 50% of the margin required, the system will start closing your open positions automatically.

Do you offer negative balance protection?

Yes, Spec Markets offers negative balance protection, subject to eligibility criteria and our Terms and Conditions.

While negative balance situations can occur during extreme market events—such as price gaps over weekends or major holidays when liquidity is low. In the event that your losses exceed your account balance, our negative balance protection ensures that you will not owe more than your deposited funds, providing you with added peace of mind.

What execution method do you use?

Spec Markets uses a market execution model. A market execution model means that all trades and pending orders are filled at the prices we stream on the platform at the time an order is placed.

What are the fees/commission for CFD indices?

Spec Markets does not charge any additional fees or commission for CFD indices trading.

What partnership programs does Spec Markets offer?

Spec Markets offers a variety of partnership programs including, but not limited to, Introducing Brokers, Affiliates, etc. Detailed information can be found at the specmarkets.com/partners  on our website.

Can I lose real money whilst trading on a demo account?

A demo trading account contains virtual money and is risk-free. Demo accounts are designed as an educational tool to familiarize customers with our trading platforms without losing real money.

How do I add funds to my demo trading account?

To add funds to your demo trading account, go to Demo Account under the ‘Accounts’ section of your secure Client Area. Scroll down the page to go to your ‘Demo Accounts’ section. You can add virtual money to your demo account by clicking on the ‘Add Funds’ options marked with a green dollar ($) icon available at the end of the account row.

Does Spec Markets offer trading advice?

Spec Markets is an execution-only broker and does not offer any personal trading advice that may impact client’s trading decisions.

Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

What is Forex?

Forex, or the 'Foreign Exchange Market', is the largest financial market in the world, with a daily average turnover of approximately US$3 trillion. Forex trading is the simultaneous buying of one currency and selling of another. The price of currencies is floating and dependent on supply and demand. Foreign exchange is always traded in pairs, for example EUR/USD or AUD/USD.

Forex is said to be one of the fairest and most transparent markets on earth. This is mainly because of the large number of market participants and sheer size and number of transactions. No one single country or bank can completely control the direction of a currency.

How is a profit or loss incurred when trading Forex?

Making money trading Forex involves buying lower and selling higher or selling higher and buying back lower. Using leverage means that you are able to deposit a smaller amount of money to achieve the same buying power as you would have if you bought and sold the currencies outright.

In this example, Mary deposits $5,000 into her Forex trading account and nominates the leverage on her account to be 1:100. As a result of leverage, Mary’s buying power on her $5,000 deposit becomes $500,000. Mary decides to buy 0.1 lots of the AUD/USD par at a price of 0.99802. Three days later, the price of the AUD/USD is 1.04069 and Mary decides to close her position. Mary’s profit is calculated as (1.04069 – 0.99802) 426 pips. As Mary opened a position of 0.1 lots, she made a profit of $426, or $1 per pip.

Of course, should the AUD/USD have moved against Mary below the opening price of her trade to a level of 0.97802, Mary would have incurred a loss on the trade of (0.99802 – 0.95542) 426 pips. As Mary’s position size was 0.1 lots, she would have incurred a loss of $426 or $1 per pip.

Is the Forex market exchange traded?

Forex is not exchange traded, unlike the stock and futures markets. Forex is traded on an over the counter (OTC) basis with no central exchange between banks, governments, hedge funds and private investors. The Forex market is open 24 hours a day, five days a week, it opens in New Zealand and closes in New York.

Who are the main participants in the Forex market?

The main participants in the Forex market are central banks, commercial banks and investment banks, however, in recent years - since the advent of the internet - accessibility to the Forex market has increased, which has resulted in an increase in the number of non-bank participants. Nowadays, participants also include large multinational corporations, money managers, registered dealers, money brokers and private investors.

When does the Forex market open and close?

The Forex market is a 24-hour market. Forex trading commences in Wellington, New Zealand and moves around the globe as business days begin in each financial centre. The major global financial centres where most Forex trading takes place are Tokyo, London and New York. The Forex market opens on Sunday at 10:00pm (GMT) and closes on Friday at 10:00pm (GMT).

What are the most popular Forex pairs?

The most popular liquid currency pairs are those from countries with politically stable governments and well-respected central banks. The most popular currency pairs are those that are paired with the US dollar, these are nicknamed the ‘majors’ and account for around 85% of transactions. The most commonly traded pairs are the EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF and USD/CAD.

What makes exchange rates move?

A variety of fundamental and technical aspects can cause an exchange rate to move. The most notable influences include interest rates, inflation and political stability. Sometimes, governments will buy or sell a currency in an effort to influence its value with a view to having a broader effect on the country’s economy. This is known as ‘central bank intervention’ and can have a significant impact on the value of a currency. Given the size and diversity of participants, no one single factor can influence the Forex market for any significant length of time.

How do I manage risk when trading Forex?

Forex traders can use a variety of risk management strategies. The most common form of risk management is the use of stop loss and limit orders. Stop loss orders can be set within the MetaTrader 5 platform and are often used to force the closure of a position at a predetermined price in order to limit any potential loss. Limit orders work in much the same way as stop loss orders; however, they allow a restriction to be placed on the maximum price paid.

How do I log in to my MetaTrader 5 trading account?

In order for you to log in to your MetaTrader 5 trading account, you will need your account number and password. These details were sent to you when you first opened your account.

Once you have your account number and password, simply install the MetaTrader 5 platform on your PC and select 'File' then 'Log in to Trade Account'. A login box will then appear in which you will be able to enter your account number, password and select the relevant server.

When typing your password, you should ensure that it is entered correctly. If you are copying and pasting, make sure not to copy any extra spaces over.

You should also ensure that you select the server name mentioned in the email containing your login details. If you cannot see the server in the drop-down list, simply type it manually as speccapitals-main and select ‘Login’.

You will see your connection status update in the bottom right-hand corner of the platform. If the connections status shows ‘invalid account’, make sure your password was entered correctly. If it shows ‘no connection’, double-check that the server address was entered correctly.

Can indicators or EAs be installed on the mobile platform?

No, you cannot directly install an EA script or indicator on the mobile version of MT5.

How do I change the time shown on the trading platform?

The time displayed on the trading platform cannot be changed. To align the daily chart candles with New York close (5 pm ET), our server time and charts are GMT+2 or GMT+3 when daylight saving is in effect.

How can I improve the time it takes for my orders to be executed?

To enhance your order execution speed, consider using a Virtual Private Server (VPS) to host your trading platform. A VPS can significantly reduce latency because it is typically located in a data centre close to the broker’s trading servers, offering fast, stable, and low-latency internet connectivity.

This setup is particularly beneficial for high-frequency traders or those who rely on expert advisors (EAs), where milliseconds can make a difference in trade outcomes.

How do I reset my trade account password?

If you have forgotten or lost your password, you can reset it via your Secure Client area. Sign in and select 'Change Trading Account Password'. Enter and confirm your new password and select ‘Save’. You will receive an email confirming the change was successful.

What does ‘spread’ mean?

In Forex, ‘spread’ is the difference between the bid and the ask price.

What is the minimum lot size that I can trade?

Spec Markets supports the trading of micro lots. A micro lot in MT5 is represented as 0.01, which is equivalent to 1000 units of the base currency.

What does ‘margin’ mean and how is this calculated?

‘Margin’ is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account. If you do not have sufficient free equity available, you will be unable to open a position on the trading platform. The free margin amount shown in the trading platform is the amount you have available to use should you wish to open additional positions.


Margin is calculated using the following formula:

Margin required = (current market price x volume) / Account leverage


In practice, this would be calculated as follows:

If you open a position of 0.1 (10000) in EUR/USD at the current market price of 1.35645 and your account has a leverage of 1:400, you would calculate the margin required as follows:

(1.35645 x 10000) / 400 = $33.91


In this example, the margin on this position would be $33.91; therefore, in order to open a position of this size you would require at least $33.91 in free margin in your trading account.

What happens if I have no free margin left in my account?

If you have no free margin, your positions will be stopped out. Under certain circumstances, your account balance can also become negative should the losses on the positions stopped out exceed your account balance.

What is Spec Markets’s margin call level?

Spec Markets’s margin call level is 100%. This means that you will receive a margin call when your equity is 100% of the margin required on your open positions. Equity is calculated as (Balance + Open Profit/Loss).

What is Spec Markets’s margin stop out level?

Spec Markets’s margin stop out level is 50%. This means that if your free margin falls below 50%, then your positions will be automatically closed. MT5 will automatically close them in order of the largest losing position to the smallest.


The margin stop out level is calculated using the following formula.

Margin level = equity / used margin x 100%

= margin level %


Example

The margin on a $10,000 USD (equity) trading account with 1 standard lot open position on USD/JPY and 100 times leverage would be calculated as follows:

= 10,000 / 1,000 x 100%

= 1000% margin level

If the position moves against you and your equity fell to $5,000, the calculation would be:


= 5,000 / 1,000 x 100%

= 500% margin level


If the position moved against you even further and the equity fell to $499, the position would be stopped out as the margin level would have fallen below 100%.

= 499 / 1,000 x 100%

= 49.9% margin level

How do I generate account statements?

You can generate account statements from within the trading terminal by selecting the ‘History’ tab. Right-clicking within the History area will open a new tab. From here, you will be able to select the time period of the statement that you wish to generate. Right-clicking again will provide you with the option to save the report to disk or in HTML format for viewing in a web browser.

Does my demo account ever expire?

Demo accounts will only expire after 30 days of inactivity.

Is there a minimum number of trades I need to place each month?

There are no limits to the number of trades that you must place each month.

Is there a limit to the number of open positions that I can have at any one time?

There is a limit of 200 orders, open or pending, on your account at any one time. Once you reach 200 orders, you will not be able to place any more trades.

How long can I keep my positions open?

You can keep your positions open for an indefinite period of time as long as there is no expiry attached to the product contract.

Can I log in to multiple accounts from the same computer?

Yes, you may log in to multiple accounts on one platform using the MT5 Multi Terminal. You may also install several instances of the MT5 platform for each login.

Can I log in to my account simultaneously on separate computers?

Yes, it is possible to log in to your MT5 account with the same username and password at the same time on different computers.

What is Spec Markets’s policy regarding slippage?

Slippage is an inherent part of financial markets. Whether you are trading Stocks, Futures, CFDs on Commodities or Forex, you will be subject to slippage. When you place a market order, you are requesting your order is filled at the current market prices; however, if the market has moved between the time you place your order and the time it has been filled, your order may be filled at a different price. Slippage can increase when markets become volatile, such as over new releases. You should keep this in mind when trading outside of normal market conditions.

Stop loss orders, when triggered, enter the market as market orders; therefore, there is no guarantee that your order will be filled at the price you placed your stop loss.

How do the charts on MT5 work?

The charts on MT 5 reflect the 'Bid' price only; the 'Ask' price is not shown on the charts. You can, however, draw an 'Ask' line on the charts by clicking on the chart and selecting 'show ask line'. This will result in an estimation of the 'Ask' price, which is based entirely on the spread. You should bear this in mind when conducting any historical analysis using the charts available in MT5.

Where are your trading servers located?

Spec Markets’s trade servers are located in the NY4 and LD5 IBX Equinix Data Centres in New York and London, providing clients with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable infrastructure.

How do I test the latency from my computer to the MT5 trade server?

The latency from your computer to Spec Markets’s trade servers can be tested by conducting a ping test.

The instructions below explain how a ping test can be conducted:

Step 1: On your computer, go to the ‘Start’ menu and type 'CMD' in the 'search programs and files' field.

Step 2: Type in the word 'ping' followed by a blank space and the IP address of the server you wish to ping.

Step 3: The bottom line on the resulting output will show in milliseconds the minimum, maximum and average time it took to send and receive data between your computer and the server.

What is a 'market' order?

Market orders are submitted at the current market price; however, these may not necessarily execute at the price requested. The trader executes these orders with a volume and price offered by the CFD provider and they will be filled at the best available bid/ask for the size (volume) the trader is trading. Market orders generally allow for the faster execution of orders without any requotes.

What is a 'pending' order?

The trader may execute using a pending order if they expect the market to go up or down but do not wish to enter until a certain price level is reached; the order will not be filled if price does not reach this level.

A pending order is broken up into six types:

  • Buy Limit
  • Sell Limit
  • Buy Stop
  • Sell Stop
  • Buy Stop Limit
  • Sell Stop Limit
What is a 'sell' order?

It is an instruction from an investor to sell a certain amount of an asset. A sell order opens at the bid price and closes at the ask price.

What is a 'buy limit' order?

When a trader wishes to buy (or go long) below the current market price, a buy limit order is placed, which gets executed when the market dips and touches the requested price, that is, if the ask price on the platform drops to a level equal to or lower than the specified buy limit price.

What is a 'sell limit' order?

When a trader wishes to sell (or go short) above the current market price, a sell limit order is placed, which is executed if the bid price on the platform rises to a level that is equal to or higher than the specified sell limit price.

What is a 'buy stop' order?

When a trader wishes to buy (or go long) above the current market price, a buy stop order is placed, which is executed as soon as the ask price is found equal to or higher than the specified ‘stop’ price.

What is a 'sell stop' order?

When a trader wishes to sell (or go short) below the current market price, a sell stop order comes in place, which is executed as soon as the bid price is found equal to or lower than the specified ‘stop’ price.

What is a 'stop limit' order?

The stop limit order is a type of order that is executed at a specified or a better price after a given stop level is reached. As soon as the stop price is reached, the stop limit order becomes a limit order to buy or sell at the limit price or the next best available price.

What is a 'trailing stop' order?

A trailing stop is a type of stop loss order attached to a trade that moves as the price fluctuates. It is designed to lock in profits or limit losses as a trade move favourably by a certain number of pips, as set by the investor. It is important to note that trailing stops only move if the price moves favourably. Once it moves to lock in a profit or reduce a loss, it does not move back the other way.

How does Spec Markets handle margin stop outs for hedged positions?

On the MT5 platform, if the account is perfectly hedged and does not require any margin, the positions will remain open.

What happens when a Futures CFD expires?

Spec Markets’s Futures CFDs are set to expire on the day the contract expires on the underlying market. When a Futures CFD contract expires, all the open positions are closed at the Futures settlement price as reported by the Futures exchange.

This process usually takes place on the day following the expiry. Open positions are not rolled to the next month, so any clients wishing to hold long-term positions must reopen the trade on the next available contract.

How long does it take to approve my account application?

Account verification usually takes a few minutes but can take a couple of hours in some cases. If you have not heard back from our accounts team regarding the current status of your account application via email, we suggest you visit our live chat support or email us at [email protected]

How do I convert my account to swap free?

Traders of Islamic faith can apply for Islamic accounts during the registration process only. If you have not selected Islamic account option and wish your account to be converted to swap free, please send an email to [email protected] for more details.

What should I do if I don't have any proof of residence in my name?

You can provide an additional form of primary ID.

How do I update my address details?

To update your residential address details, please contact us using your registered email at [email protected] including your latest residential proof of address stating your name and new address. The address document must be no older than 180 days.

How do I update my account details?

Should you wish to update the details of your account, such as account name, phone number or email address, please send us an email at [email protected]. We will also require you to resubmit 100 points of ID so that we can verify that it is you requesting the changes.

How do I provide my ID documents?

Documents must be uploaded via your Secure Client Area

How do I access my Client Area?

You can log onto your Client Area  from our webpage or from the login link sent to you at the time your account was opened. If you have forgotten your password you can easily reset it.

How do I see my live account details?

You trading account details can be found under the account details from inside your Client Area, you can also find this information in the email we sent you when you opened your trading account.

How do I open additional live or demo trading accounts?

You are able to create additional demo or live accounts from within your Client Area.

Can I transfer my funds between accounts?

Yes, you can transfer funds between your trading accounts from inside your Client Area.

How do I withdraw funds from my trading account?

You can withdraw funds from your wallet by submitting a withdrawal request from your Client Area. There are a number of withdrawal methods available; however, the methods available depend on the deposit method that you used to initially fund your account.

Funds can only be withdrawn from your Wallet. Make sure you transfer from your trade account to your Wallet ahead of your withdrawal request.

How long does it take for a deposit to reach my trading account?

The time it takes for a deposit to reach a trading account depends on the deposit method used. Typically, credit/debit card deposits are instant. A list of all deposit methods and their respective processing times can be found on our website and on the deposit page of your Client Area.

How long does it take to receive a withdrawal?

Typically, if a withdrawal request is received before 01:00 GMT (12:00 AEST) it will be processed on the day of receipt. If your withdrawal request is received after this time, it will be processed on the following business day. Once we have processed your withdrawal request, you should allow at least 3 business days for the funds to reach you. This will vary depending on the withdrawal method used. Usually, withdrawals processed using credit card are much faster than wire transfer. You can find additional information regarding available withdrawal methods from the withdrawal page in your Client Area as well as on our website.

Is it possible for a withdrawal to be declined?

Yes, it is possible for a withdrawal request to be declined. Should your withdrawal request be declined, we will send you an email explaining why it was declined and what to do next. If you have any questions, simply respond to the email or contact us on live chat 24/7.

What is the reason for a deposit failing?

Typically, a failed deposit occurs as a result of insufficient funds in the depositing source (e.g. credit card, etc), an incompatible card (e.g. American Express), restrictions applied by your financial banking institution or the incorrect card details being used. Should a deposit fail after all of the above have been checked, we recommend you contact the financial institution you are attempting to transfer funds from.

What should I do if my account is archived?

We archive inactive trading accounts after a certain time period. Please note that archived accounts cannot be re-activated. A simple solution, if your account has been archived, is to create an additional trading account from your secure Client Area. If you have funds in that specific account/s, please contact our support team and we will be happy to assist you.

How do I view my deposit and withdrawal history?

You can view deposits and withdrawals to and from your trading accounts by going to the transaction history page in your Client Area.

How do I change my trading account password?

You can easily change the password of your trading account from the Client Area by selecting the change trading account password page.

How do I reset my Client Area password?

If you forget the password used to log in to your Client Area, you can simply reset it. A temporary password will then be sent to the email address you provided in the registration process.

How do I change my account leverage?

You cannot change account leverage once the account is created. You can create a new account with your desired leverage in your Client Area.

Are there fees for transfers between my trading accounts?

No, there are no fees for transferring funds between your trading accounts. If you are transferring to a trading account in a different currency, you should be aware of the currency conversion rate, which you will need to agree to proceed with the transfer.

How do I remove a trading account from my Client Area?

You cannot permanently remove a trading account from your Client Area.

How long does it take to receive a withdrawal once it’s marked 'Completed'?

The time it takes for you to receive withdrawals depends on the withdrawal method used. You can check the average times on our withdrawal page.

How do I download the trading platforms?

You can download the trading platforms we offer from the  downloads  page in your Client Area.

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