How do I open a forex trading account with FIGfx?

Step 1. Complete Application
It is easy to open a forex trading account with FIGfx. There are two ways. You can either apply online OR download the necessary forms and fax to us.

Step 2. Provide Photo Identification
Individual or Joint Account Holders
A photo identification formand an address verification utility bill or bank statement

Step 3. Fund Your Account
There are three easy ways to fund your account:

1. Wire Transfer
2. Credit Card
3. e-bullion

How much is the minimum to open an online forex trading account?

There is a minimum of USD$2000 to open a Standard Forex trading account and a minimum of USD$250 to open a Mini Forex Trading account and a $25 minimum for micro accounts.

Are there any service fees when funding the online forex trading account?

FIGfx DOES NOT charges any service fee when funding your mini forex trading account via bank wire transfer or credit card. The Bank might charge a very minimum (usually at fix USD$10) inward remittance fee for wire transfer depending on the source of fund.

For Moneybookers deposits, a fee of 2.9% (plus credit card fees) is applied.  You can always check Moneybookers fees at http://www.moneybookers.com/app/help.pl?s=fees

When can I start trading once I fund the account?

Usually within 2-4 hours. FIGfx will email you a username and password once our account is verify and funded. For online applicants the username and password are emailed immediately. An instruction to download the trading platform and phone numbers of live dealer will be provided in case you have no access to computers or internet connections.

How can I withdraw my money?

Please fill up a withdrawal form or use your secure trader’s cabinet to submit the request electronically. Withdrawal process usually takes less than 2 working days unless otherwise stated. Fund could be sent to clients via bank wire transfer, e-bullion or credit card depending on the source of deposits. Bank service charge applies on either methods. Bank wire transfer charge a minimum of USD$40 for each wire. Withdrawal charges of 3% if process via e-bullion. If deposits were funded using credit card, withdrawal might be processed by crediting to the same credit card “upon availablility” or bank wire with 18.5% fees of the withdrawal amount. This fee is charge by the credit card processor; not by FIGfx. All positions in the account need to be closed before partial or full withdrawal.

Does FIGfx charge any commissions or fees?

Unlike many other forex brokers, FIGfx is a foreign exchange dealer and market maker and we DO NOT charge any commission in executing forex orders. Our revenue stream is generated from the spread of bid/ask of each forex online trading transaction transacted by our clients. Currently, the spread is a fixed low 1 pip on all major currencies which is the lowest in the industry. There is a small cost of holding positions overnight as per our interest page, Islamic swap free accounts are also available upon request.

If I fund the account with Multiple Sources (Credit Card or Bank Wire) can I withdraw to any sources as well?

For multiple deposits from different sources, it depends on the deposit amount as there are investors who abuse the system where they treat FIGfx as digital currency exchanger. Traders are not allow to deposit using one source and withdrawal using different sources other than bank wire transfer. Our system is very efficient where we can track all incoming deposits. For example, if a trader deposits $5000 via e-bullion and $1000 via credit card, he/she can only withdraw $5000 plus the profit via e-bullion and $1000 plus the profit via credit card or bank wire for both. Bank wire is the default method for withdrawing. FIGfx reserved the right to fund withdrawal via Bank wire other than using money processors. For bank wire transfer, FIGfx do not charge any fee. The Bank will charge a minimum wire transfer fee of $40 and up depending on the destination and wire amount.

Does this mean I can withdraw fund via wire transfer if my deposit is via money processors such as credit card, e-bullion?

Yes except for Credit Card depositors. Account holders who deposit via Credit Card can withdraw fund by only funding it back to the Credit Card account unless the deposit is made for more than 180 days. The reason for 180 days is because of the security rules with Credit Card company. Any deposit that is less than 180 days has to withdraw via funding back to credit card unless management approval. The 180 days period does not apply to e-bullion depositors.

Is FIGfx Trading system adhering to Islamic Shariah Law?

Yes. FIGfx offers Islamic Forex and CFDs trading account upon request. The account will be set up as interest free and Forex & CFDs trading account. Please notify us during submitting of your application so that we will place your account under the Islamic Shariah Law account. Please click here for Islamic Forex Trading complete information.

For standard cost of carry or premium charges, please click here.

Why should I engage in forex trading with FIGfx?

FIGfx Financial Ltd. is one of the world’s fastest growing forex traders communities offering low pips and commission-free forex dealing. We offers state of the art user friendly trading platform which perform instant and efficient trading execution. We take pride in our professional staff that is thoroughly trained to look after the best interests of our clients. Our professional staff is available twenty-four hours a day. FIGfx’s clients consist of financial institutions, money managers as well as individual investors.

Will my funds on deposit be safe?

Safety of Clients’ funds is the utmost important factor in the financial industry. The question of safety of fund arises frequently and that is why FIGfx take extra steps into choosing the very best offshore banking facility to park clients’ deposit fund and never commingle with FIGfx operating capital. FIGfx maintain a strong balance sheet with net capital in access of most minimum regulatory requirements for securities brokers and futures dealers.

Where do FIGfx rates come from?

Real-time quotes are fed from our provider from major banks, allowing investors to view up-to-date information. All online forex trading operations are performed in real-time, including trade capture, client portfolio update, and risk analysis. Such an approach means that in managing risk, all transactions up to the second are taken into account.

What are the benefits investing in offshore jurisdiction?

FIGfx incorporated in the Delaware State, USA - which offers one of the best offshore infrastructures in the world. Invest offshore helps to keep your private and business affairs away from public eyes in an offshore jurisdiction. Another benefit is Asset Protection. Offshore investments will secure your assets against possible future claim in your home country. And off course, offshore jurisdiction provides better tax incentives and benefits.

What is your minimum system requirement to run the FIGfx Trader platform?

For best possible performance we would suggest at least a Pentuim 4 with 1Gb of RAM.

What is the difference between a demo and a live forex trading account?

The only difference between a demo and a live trading account is a demo account deals with virtual money whereas a live forex trading account deals with real money. Demo trading platform provide real trading experience with no capital risk.

What currency pairs can I trade with FIGfx?

Currently we are offering a raneg of over 120 pairs including major currency pairs, exotice currencies, futures, CFD’s and Stocks. You can special request for any currency pairs that is not available. We will customize it to your trading platform.

For more currencies and CFDs pairs, please click here.

What are the maximum lots for each forex trade?

At the moment, our trading platform could take up to 99 lots at one execution. If you need a higher limit, please contact us at dealing@FIGfx.com.

Can I call the live operators for any account related issue?

Yes. You can contact live operators 24-hour a day for any product or account related issue. You will be transfer to available customer service/product specialist personnel to help you in any product or account related issue. If there are no personnel to help you, please leave your name, number and message with the live operator and a product specialist will get back to you promptly. Live operators DO NOT execute forex trade.

What are FIGfx trading hours?

FIGfx trading hours are 24 hours daily from 5:00pm (U.S. Eastern Standard Time) Sundays through 5:00 pm (U.S. Eastern Standard Time) on Fridays, including most holidays.

What should I do when I could not login to the trading platform?

There is almost zero possibility that you could not login to your forex trading platform during market hour because FIGfx trading facility is back up by state of the art data centers located in different part of the world. There is zero down time since its inception. It is possible that you could not login during non-trading hour where our servers are under maintenance to prepare for the next market reopen. Our trading facility has multiple high performance servers which could handle huge amount of orders at one time.

What happen if I could not perform trade via the platform?

In some circumstances but very rarely where there is major market intervention and huge price fluctuation, it is almost impossible to execute at the quote you want. Please report the problem to dealing@FIGfx.com

What should I do if I forget my password?

Please email support@FIGfx.com and provides us your account username. After verification, we will email your password to you.

Can I execute trade if I do not have access to computer or internet?

Yes. You can call the dealing desk to execute trades, but bear in mind that FIGfx is an online forex trading company and we prefer client to use our state of the art trading platform to execute trades. This could minimize our overhead cost and in turn the saving will pass to the clients. Just a reminder, the dealing desk is strictly for dealing only. Dealers will not entertain any product or account related issues. Any matter that could solve via email, client is encouraged to contact us at info@FIGfx.com for prompt reply.

What About Terms Like “Bid/Ask”, “Spread”, And “Rollover”?

FIGfx.com has an extensive Glossary that provides detailed definitions of all Forex related terms.

What should I do when the trading platform froze during trading?

Press CTRL>ALT>DELETE simultaneously to “End Task” of the FIGfx Trader. Your computer virtual memory is running low after long hours of running FIG4Trader. It is recommend to clear the cache of the browser every few hours to avoid it to happen.

Do FIGfx Trader platform experienced slower automatic order execution during a news release?

Absolutely Not. FIGfx Trader is a state of the art Forex trading and CFDs trading platform that powered and built on top of industry MetaTrader server infrastructure. FIGfx Trader trading platform leverage ongoing advances in the technology industry and provide a standard architecture for future development. In addition, the open nature of its architecture ensures a highly flexible design, and allows for the easy and rapid integration of additional third-party tools and services. For more information on FIGfx Technology, please click here.

On your forex trading platform one may enter the market in several ways market order buy or sell at market price; limit buy or sell or stop buy or sell; I’m not sure what the difference of these two, limit buy or sell an stop buy or sell is or when I should use them Can you please explain?

The difference is as follows:
Entry Stop Buy and Entry Limit Sell can be placed above the current market price. Of course they play two different roles:
Entry Stop Buy allows to enter the market if you think that the market will be inertially moving up far above the Entry order price.
On the contrary, the Entry Limit Sell allows to enter the market if you think that the market will reverse immediately after hitting the Entry order price.
Entry Limit Buy and Entry Stop Sell can be placed below the current market price. Their use is the same as for the other two, but in different market direction.

How can I hedge a position(s)?
Hedging is to open a new position(s) of the same without liquidating the current floating position(s) at a %25 fee. At the pop up “New Position Window”, check mark the “Hedge” box before submitting the order. Once the order executed, it will be a new position(s) without liquidating the current floating position(s). This feature is design for trader who would like to take advantage of the short term fluctuation of the market without closing the current position(s); which the trader assume the market will move to their favor eventually.

How to work behind the firewalls?

FIGfx DEMO and REAL trading applications can work from behind a firewalls. You can edit proxy/firewall settings in the program’s preferences dialog box.

Does FIGfx Trader runs on Window Vista OS?

Window Vista works beautifully with our software. If you are facing problem of launching the software, please un-install the current FIGfx Trader and re-install it again. A Shortcut will be added to the Desktop.