Account FAQs

What are the hours of operation?

What's the difference between the demo and the live trading platforms?

How do I open an Account?

How much money do I need to open an account online?

What are the margin requirements to trade FX?

What happens to my open positions at the end of the trading day?

What are other services are offered?

Can I trade my Forex Account if I am not using my main computer?

Can I place orders over the phone?

How do I withdraw money from my account?

What are the hours of Operation?

Forex Trading is available 24 hours daily from 5:00pm EST Sundays through 5:00pm EST on Fridays, including most holidays.

What's the difference between the demo and the live trading platforms?

The only difference is that there is no capital at risk when trading on the MT4 demo system. The demo platform is fully functional and, more importantly, the bid/ask rates available in the simulator are the EXACT rates available to our live trading clients. The simulated system allows you to sample the ability to deal instantly from live, streaming currency quotes.

How do I open an account?

Simply go to our account section and complete the online application. When your application is processed and a minimum deposit of at least $250 USD is made, you will be able to start trading.

How much money do I need to open an account online?

The minimum deposit to open an online account is $250. The minimum deposit for an ECN Premiere Account is $500. The minimum transaction size is .01 lot (micro lot or 1000 currency units), with a minimum margin deposit of $2 (at 500:1 leverage). Mini lots (.1 lot or 10,000 currency units per lot) and standard lots (100,000 units per lot) can also be traded in the same account.

What are the margin requirements to trade FX?

The initial margin requirement is 0.2% ($2 per micro lot traded, $20 per mini lot traded, and $200 per standard lot traded) for accounts that use the maximum leverage, which is 500:1. Minimum trade sizes are 1,000 base currency units (micro lot), 10,000 units (mini lots), and 100,000 units (standard lot). We will only execute trades on margin if the client has sufficient funds in his or her account.

What happens to my open positions at the end of the trading day?

Unless specific settlement instructions are provided, all open positions will automatically be rolled forward to the next day's value date at the end of each business day, 4:30pm EST. All rolls will be done at competitive rollover rates (swap rates), and depending on the currency pairs involved, trades will be executed where the trader will either earn or pay away points, depending on the interest rate differential between the two currencies.

What are other services are offered?

The MT4 software provides each client with a wide range of trading tools, including technical analysis and charting, real-time news feeds, real-time profit and loss analysis, and full back office capabilities. Daily FX commentary from market professionals will also be provided. Furthermore, Forex trust accounts are also an option for any customer, regardless of the account size – for maximum safety of client funds.

Can I trade my account if I am not using my main computer?

Yes. If you are traveling or do not have access to a computer with an Internet connection, you may execute trades over your smart phone or PDA with our MetaTrader (MT4) mobile trading platform.

Can I place orders over the phone?

Absolutely. When trading via the phone, you will have access to the same experienced FX dealers as when you trade over the Internet. You must provide the dealer with your account number and password.

How do I withdraw money from my account?

To withdraw funds from an existing account, you will need to log into the member's area with the login you'll receive once you open your account.

Withdrawals need to be made in the same manner as the deposit; for example, if an account was funding via wire transfer, withdrawals must be done via wire transfer as well.

Withdrawals from your forex account via Moneybookers will take approximately 24 hours. Withdrawals from your Trading Account via bank wire can take from 1 to 5 business days and the wire fee is $50 USD. The customer's bank may also charge the customer for incoming wires. Local withdrawals can also be done via Global Collect for a lower fee than a wire transfer, but the customer needs to check if the bank he has local access to participates in the Global Collect program.

To expedite processing, please indicate your name and account number on all wires and withdrawal requests and all other correspondence regarding your account.