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FREQUENTLY ASKED QUESTION

 
CFDs and Forex
Who is Forex4Money?

Forex4Money is an international group of Forex companies founded in 1996 by a group of bankers and Forex dealers. In 2004, with an existing wide client base numbering in the thousands, our multilingual internet-based trading platform was launched. Since then, Forex4Money has expanded its client base to tens of thousands, generating trading volume to the tune of hundreds of billions annually. At present, Forex4Money employs hundreds of staff in offices located in the major financial centers around the world.

What are the tradable products that Forex4Money offers?

Forex4Money offers a large variety of tradable products such as:

  1. CFDs on Commodities, Shares and Indices, such as Crude Oil, IBM, Facebook, Dow Jones and many others.
  2. Forward and Spot on a variety of Precious Metals and Currencies such as Gold, the EUR/USD, EUR/JPY and many more.

Binary Options on many of the products mentioned above are also available at Forex4Money. This is only offered in certain jurisdictions and is subject to local regulatory restrictions.

What services are offered by Forex4Money?

Forex4Money offers Forex trading education, 1-on-1 tutorials, technical support, and customer support in an array of different languages. Additionally, Forex4Money operates a dealing room for trading foreign exchange, including spot and forward transactions, and CFDs. Forex4Money provides clients with direct access to experienced dealers 24/5. These round-the-clock services provide clients with competitive prices and the ability to execute deals quickly at real-time.

What are the different accounts offered by Forex4Money?

Forex4Money offers traders a variety of accounts tailor made to suit individuals needs. For more information on account types and our recent offers, click here

What is an Islamic Account?

An Islamic Account is an interest-free account which adheres to Islamic Sharia Laws applicable to Forex and CFD Trading.

How is online trading done?

Forex4Money traders can rely on a selection of three trading platforms that include a downloadable and a web based version for PC and they can also take advantage of a mobile trading platform for smartphones.

What is the required minimum deposit for online trading?

To open a new transaction and trade online, you need a minimum deposit of US$100. The minimum transaction size for a new account is $2,500 (or the equivalent), with up to 400:1 leverage

How do I fund my account?

Forex4Money provides various means of online and offline fund deposit options for your convenience. These options include: Bank Wire, Credit Card, Debit Card and eWallets. For instructions regarding deposits via wire transfer, please e-mail accounting@forex4money.com and provide details of your name, telephone number and your request.

How do I withdraw money from my account?

To withdraw funds from your account, simply login to your account and generate a Withdrawal Request from the withdrawal page.

Requests to transfer funds to a third party will not be processed.

Withdrawing funds from an account is only possible upon signing and sending the following documents: (Documents 1-3 are required only once)

  1. Personal identification certificate: passport, driving license or any other government issued document evidencing your name, date and place of birth, citizenship, and bearing your photograph and signature (Front and Back).
  2. Proof of current residence: Here are some examples of the documents that can be sent to show your proof of residency:
    Utility bill (e.g. gas or electricity bill)
    Bank Statement
    Telephone or Mobile Account Statement
    Municipal Rates Invoice Statement
    PO Boxes are not acceptable and the document cannot be more than six months old
  3. If you have deposited via Credit Card or Debit Card, please send the copy of both sides of the card as follows:
    Conceal the CVV Code
    On the front side of the card, conceal the first 12 digits and leave the last 4 digits visible
    Note: When sending your credit card copy, we require only a clear view of the last 4 digits of the card, the cardholder name and the expiry date.
  4. Withdrawal and credit card deposits confirmation (Click "Continue" in order to generate and print this document)
    In order to comply and increase security, the following document sending methods are available:
    1. Through our Secure Upload System: This is our preferred choice as it will allow you to send all your documents directly to our compliance department for immediate processing.
    2. Through fax to our compliance department at +30-210-374-2536, +30-210-374-2556

Alternatively, you can send your Proof of ID and Proof of Residence by email to compliance@Forex4Money.com.

Please do not send credit card details or copies via email.

Funds deposited with credit cards, will be credited upon withdrawal to the card/s, up to the limit of the deposited amount. Any excess funds will be wired to your bank account which details must be provided below ($20 bank fee for wire transfer will apply).

In the event the credit card you used to fund your account is cancelled, the funds will be returned by your credit card vendor to the bank account from which the card was issued.

Should the denomination of the funds withdrawn from your trading account differ from the denomination of your credit card and/or bank account, the amount refunded will be converted by the credit card vendor, using the current local exchange rate at the time.

Should you wish to withdraw funds in a mean different to these described above, kindly email us to accounting@Forex4Money.com providing details of your name and contact number alongside your request. Please note that specific regulatory restrictions may apply and a withdraw in means different to the means indicated above may not be guaranteed and is subject to Forex4Money’s sole discretion and applicable laws and regulations.

While having an open exposure, the amount you may withdraw is subject to the minimum margin requirements.

Does Forex4Money use Margin Calls?

No, Forex4Money does not use Margin Calls. The Term Margin Call is wide spread among Forex brokers and it refers to a closure of all open positions by the broker when the level of minimum margin security is breached. The customary minimum level of margin ranges between 1% to 2% during week days, increasing to 3% to 4% over weekends and holidays. As a result, positions may be closed despite a positive free balance in the client account. The Forex4Money philosophy is to allow investors to make full use of their free balance as margin for their opened positions, which means that positions will remain opened as long as the investor has a positive free balance in his account.

Do you charge rolling fees for rolling-over the open positions?

Forex4Money does not charge any commission or fees for rolling-over positions. Moreover, there are instances where an investor may gain from the process of the rollover. During the rollover process (which is similar to automatic Forward every two business days), traders will either earn or pay away points, depending on the interest rate differential between the two currencies.

What are the advantages that Forex4Money has over its competitors?

No Commission

Forex4Money does not charge any commission for opening positions, though there is a spread between the buy and sell rates, which some may view as an indirect cost. The spread between the buy and sell rates is customary in all dealing rooms and Forex trading platforms throughout the world.

The spread Forex4Money offers for spot and forward positions ranges between 0.02% (2:10,000) and 0.05% (5:10,000) for the Major currencies and higher for some exotic crosses or currency pairs which tend to have lower liquidity. Commodities or indices CFDs' spreads vary according to the product.

Full Margin Usage

Forex4Money does not operate full Margin Calls. Forex4Money has faith in its clients and allow them to use their collaterals in full in favor of their opened positions. Consequently, no deal will be terminated as long as the client has positive free balance in the account.

24 Hours of Trading and Support

Forex4Money offers trading and support services 24 hours a day, starting on Sunday night and non-stop until Friday night (GMT).

Special Limit Orders

Forex4Money investors have at their disposal several sophisticated trading tools, including one which allows them to place a Limit Order at a better rate, which in turn cancels other orders once executed. Also, investors may pre-determine a Stop Loss or a Take Profit.

It is also possible to gain or risk by setting a pre defined rate with which to open or close a position.

Utilizing Future Profit in Order to Open a New Position

At Forex4Money the investor is not obliged to set a stop loss rate. The investor has full control over his or her exposure and so he/she may open new positions based on future profits from existing open position.

Constant up-to-date Account Monitoring Options

This allows the client to view his/her opened positions, collateral and exposure values in real time. This real-time service gives investors full control over his/her portfolio and aids management immensely.

Do you have a question which does not appear in this page? Kindly send it to us by E-mail on info@forex4money.com and we will be glad to add it.

 

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