The Foreign Exchange market or commonly known as the Forex market is a global financial market of currencies to trade. It is often considered as the largest and most liquid markets in the world with an average of $5 trillion trading volume. Read more in our article What is Forex Trading article
An online trading platform is a platform which allows traders to trade on the price fluctuations of hundreds of assets available on various markets around the world.
An asset can be defined as the measured value of one of the following: Commodity, Currency, and Stock. The price of an asset reflects the live price on the market. View the full assets description.
An expiry time is the time where a trade placed with a specific asset ends. Expiry time is decided at the beginning of the trade and can usually range from minutes to months. Once the trade is placed, traders can monitor the expiry times by viewing the countdown display in the “Open Trades” section on the platform.
A strike price is the price at which a specific contract can be traded. Strike price is calculated by adding the ASK & BID price and dividing this figure by 2.
In online trading “in-the-money” occurs when a trade expires as predicted by the trader and the latter has earned the predetermined profits on his investment.
On the other side, “out-of-the-money” refers to the moment when the trader’s trade predictions do not meet up the market fluctuations and will hence make the trader lose his/her investment.
A Bearish market is a term used to describe a situation whereby the price of an asset is falling strongly. Concretely, when an asset suffers a downfall of over 20% of its value then the market is said to be a Bearish Market.
A Bullish Market is a term used to depict the sharp rise in the price of an asset. We usually speak of an increase of over 20% in the value of a specific asset to describe a Bullish Market.
The current price of an asset is the quoted price of an underlying asset as per real-time data provider.
The time shown on the website is set at the market price which is GMT +0
Opening an online trading account is very easy on Finarix. You simply need to click on “Sign Up”, fill in your personal information and lastly submit the required identification documents for verification. Our compliance department will ensure that the documents which have been submitted are in line with the Anti Money Laundering (AML). Finarix rigorously adheres to the AML Regulations.
A verification link will be instantly sent to your email address. Once you have verified your email address through the verification link, your account will be ready and you can start trading with us. Open your account now
There could be several reasons why you cannot execute trades:
Some of the reasons have been mentioned below, but it is not limited to these.
Please contact us at [email protected] if you have any additional query.
You can retrieve your password by clicking on the “Forgot password?” button. It is located under the Username and Password section on the Login page of Finarix. Alternately, you can also contact us directly at [email protected], one of our customer service representatives will be happy to assist you for you to get access back to your account.
In order to view a list of all your past transactions and deposits/withdrawal history on Finarix, you need to log in your account. You will then be redirected to ‘My Account’ page where you will get all your banking history, previous deposits and withdrawals.
Once submitted your personal details cannot be changed. If you would like to make any changes contact us on [email protected]
No registration fee is charged for using our Online Services, they are free of charge. However, we do have a minimum initial deposit of 250 USD/EUR/GBP or the local equivalent currency is required to begin trading with Finarix.
Deposits can be made online. Methods can be chosen by clicking on the ‘Deposit’ tab in the ‘My Account’ page. Please note that deposits can take up to 24 hours to be processed depending on the method used. Bank Wire transfers can take up to 3 working days depending on the bank.
Finarix does accept a wide range of currencies, however our main currencies are EUR, USD, GBP.
Yes, there is a minimum threshold of investment required. The minimum amount that you can invest is around 1000 USD/EUR/GBP except for Short Term Trading and Long Term Trading where the minimum investment amount has been fixed at 3 USD/EUR/GBP. However, please note you must secure a minimum deposit of 250 USD/EUR/GBP or the local equivalent currency so that you can begin to trade with Finarix.
The maximum amount that you can invest is at around 10 million USD/EUR/GBP, or the local equivalent currency. As for Short Term and Long Term Trading, the maximum investment is 100 USD/EUR/GBP.
To withdraw profits a withdrawal request has to be made. In the ‘My Account’ page, click on the ‘Withdrawal’ tab. Fill in the required information to make a request.
The minimum amount you can withdraw from your Finarix account is 100 USD/EUR/GBP or the local equivalent currency.
There is no actual restriction on the amount that you can withdraw from your Finarix account. You are free to manage your funds as you see fit. However, please note that charges apply for withdrawals. Also, withdrawal approvals may be subject to your trading volume and your account’s adherence to our terms and conditions.
Only in case of withdrawals via Credit Card, the maximum withdrawal amount cannot exceed $20k. Credit Card limits have been set up as follows:
If you have any query concerning withdrawals, kindly contact our support team at [email protected]
For withdrawal cancellation, traders should send an email to [email protected] and our team would do their utmost best to help you at the earliest.
A Swift Code is an international standard format of Business Identifier Codes (BIC). It is a key element for the identification of financial institutions such as banks and credit users. It is approved by the International Organization for Standardization (ISO). It is in fact an 8-digit number which is used as a unique identification for financial institutions. If you’re not sure what your bank’s swift code is, please check online or contact your bank or card issuer for assistance.
Finarix has established a range of security nets to make trading on its platform secured . Finarix make uses advanced Secure Socket Layer (SSL) encryption and firewall technologies on its platform. Trades carried online on Finarix are technically more secure than those carried over the phone, we have established strict protocols which we adhere to rigorously.
All the funds that you deposit on our system, are separately held and maintained in segregated accounts, which are specially used for trading purposes. In other words, your account is held separate to that of the company. Your funds are not tampered upon.
No. You do not need to download any additional software onto your computer to trade on Finarix. All our services are provided on our Online Platform itself.
We are working on several languages which will be available in the near future. You will be able to easily swap through languages which will be easier for you to understand.
Trading accounts can take up to 24 hours to be approved by our Compliance team.
The main difference is in execution. Real accounts have instant execution that involves the use of re-quotes, while STP/ECN accounts have market execution where no re-quotes are involved. Additionally, a different liquidity provider is used hence the difference in spreads.
Please click on the “Forgot Password” link and enter your email address in order to reset your password.
Finarix maintains isolated client accounts to ensure that client funds are fully segregated from Finarix own funds at all times. Client accounts have the required coding to ensure that they are used for clients’ funding purposes. All client funds deposited at Finarix are completely separated following our strict policies and procedures. As a client, you can be assured that your funds are safe.
Payment and funding authorisation are 100% automatic, and the Finarix Client Portal allows deposits and withdrawals using a simple, easy-to-use single interface. Whilst Finarix does not accept cash deposits, we offer a number of alternative reliable methods for account funding.
Deposits can be made via the ‘Deposit’ tab in the ‘My Account’ page. Please note that deposits can take up to 24 hours to be processed depending on the method used. Bank Wire transfers can take up to 3 working days depending on the bank.
You can deposit funds in any of the following 3 base currencies: USD, EUR, and GBP. In the case that you deposit funds in a currency different than your base currency account, then it will be converted into the base currency of your trading account by us at the prevailing rate at the given time.
The charts show the Bid price by default. A Buy position is opened with the Ask price and closed with the Bid price. You have to add the spread on the Bid price to find the Ask price. Therefore, the difference in price is due to the spread.
When there is a high volatility in the market, prices are rapidly changing. Under this scenario, we need to offer you the new latest market price. In such an event, you can either accept the new re-quoting or just reject the new price and cancel the execution of the transaction. Another possible reason for getting re-quotes could be the possibility of having a slow or bad internet connection which can delay the transmission of orders; implying that on your trading platform you are viewing old prices instead of current market prices.
Please be aware that when Take Profit is set on a long position, it is placed above the prevailing market price. As a result, if you place a Take Profit order after you open a position when it is already making a loss, the take profit will act as a stop loss and your position will be closed with a loss.
The Company offers negative balance protection to all clients as part of the Agreement with a client, as long as it is not manipulated. The interests of our clients are our primary objective therefore, we ensure that clients may never lose more than their total deposits.
The balance illustrates your closed positions’ Profit/Loss while the Equity is the real time calculation of Profit/Loss i.e. taking into account both open and closed positions.
Ensure that you are entering the correct Stop Loss and Take Profit.
Please note that positions in futures contracts that have not been closed by the Last Trading Date will automatically close at their last quoted price.
Please note that Sell positions are closed with the Ask (Buy) price. The price the chart is showing is the Bid (Sell) price, which is lower than the Ask price. You need to add the spread to the price that you see in the chart in order to get the Ask price.
Please note that Demo accounts have a 30-day expiry period, ensure that you are using the correct password and have selected the correct server. For further help, you can speak to one of our customer support representatives via our Live Chat or you can email us at [email protected] quoting your account number.
Simply restart your MetaTrader 4 terminal by closing it and launching it again.
To change your MT4 password, please log into your MT4 Platform, click on “Tools”, then “Options”, Click on “Change” next to the password Tab. Please enter your current password and enter a new one, then click OK.