Account Opening FAQ
How long does it take to open a live account?
- Trading accounts are opened immediately after registration.
What proof of address document is required?
- We require a recent utility bill (Water/Electricity bill) or a recent bank statement dated within the last six months. Please note that online statements/mobile phone bills are not accepted.
Can I have a Swap Free account?
- Swap Free accounts are only eligible for clients that are of Islamic faith. If you are eligible, you will need to contact your Account Manager or send an e-mail to [email protected] and not have any positions open in your trading platform.
Why are you requesting information about my investment knowledge and trading experience during the 3 step registration process?
- We run an appropriateness test in order to evaluate whether Forex and CFDs are appropriate products for your profile. We are required to run this test for all our clients since it is required by the EU MiFID directive.
How do I change the leverage on my account?
- You can change the leverage on your account by sending a request to [email protected] Note: In order for the leverage to be changed, the account should not have any open positions.
Do I need to download any software before I start trading?
- Trading platforms can be downloaded via our websites – please click on our trading platform link for more information www.acfx.com/platforms/home .
Can I manage multiple accounts?
- As long as you have more than one account, you can manage these accounts by using the ACFX MT4 MutliTerminal platform that allows you to manage several accounts simultaneously.
What is the difference between STP and real accounts?
- The main difference is in execution. Real accounts have instant execution that involves the use of re-quotes, while STP accounts have market execution where no re-quotes are involved. Additionally, a different liquidity provider is used – hence the difference in spreads.
Can I trade micro lots with a deposit of over 10,000 USD?
- Yes. This can be provided under our Classic accounts.
Why can I not login to the client portal on your website?
- The login for the client portal is your email address and password the password you selected when creating an account. Please note that they are different from the MT4 credentials.
I forgot my Client Portal password. What should I do?
- Please click on the “Forgot Password” link and enter your email address in order to reset your password.
How do I open an additional account?
- You can open an additional account via the Client Portal. Go to ‘My Account’, then click on ‘View/Edit Profile’Account’ and select ‘Open Additional Accounts’. Now you can choose the Account type, Currency Base and Leverage.
I have two accounts, and I made a deposit in the wrong account, how can I transfer the funds to my other account?
- Internal transfers can be made from one of your current accounts to another, this can be done via the client portal. Click on ‘My Account’ then ‘Internal Transfers’. Now click on ‘New Transfer Request’ choose the respective accounts and the amounts, then Proceed.
What is the safety of my funds with ACFX?
- ACFX maintains isolated client accounts to ensure that client funds are fully segregated from ACFX’s 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 ACFX are completely separated following our strict policies and procedures, with activities monitored and reviewed by our external and internal auditors, Deloitte as well as PWC. As a client, you can be assured that your funds are safe.
What are the requirements of opening a live account?
- To open a Live Account, we require a copy of your Passport/ID and a utility bill no older than 6 months.
Why does your swap free account start charging after 8 days whilst many other companies keep it swap free forever?
- We only charge swap on any positions open for more than 8 days, this is to avoid any hedging. The account still remains as swap free.
Why do you advertise that you have ZERO spread when the spread is always high?
- We advertise that the spread starts FROM 0 pips. This could change at any time since the spread is floating and not fixed.
Client Funding FAQ
What are the different payment methods I can use to fund my account?
- Payment and funding authorisation are 100% automatic, and the ACFX MyAtlas Portal allows deposits and withdrawals using a simple, easy-to-use single interface. Whilst ACFX does not accept cash deposits, we offer a number of alternative reliable methods for account funding. Please click on our funding link for more information
How do I deposit funds into my trading account?
- Deposits can be made via the client portal. Methods can be chosen by clicking on the ‘Deposit’ tab.. Bank Wire transfers can take up to 3 working days depending on the bank.
Which currencies can I use to deposit funds into my trading account?
- You can deposit funds in any of the following 5 base currencies: EUR, USD, JPY, CHF 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.
How long does it takes for my funds to be deposited into my trading platform?
- Upon receiving your funds, we will credit them into your trading account as indicated below: Bank Transfer: It is affected by your bank and correspondent bank timings. We commit to record the funds into your trading account within an hour following receipt into our clients’ bank accounts. Credit/Debit Card: During normal working hours, are usually processed within 1 hour. Neteller: During normal working hours, are usually processed within 1 hour. Skrill: During normal working hours, are usually processed within 1 hour Webmoney: Deposit time is within 1 hour.
I wish to withdraw my funds, how long does it take to reach my personal account?
- Withdrawals can take up to 24hrs to be processed depending on the method used.
What should I do if I want to withdraw my funds from my trading account?
- It is very simple. You just need to log in to our client portal and make your withdrawal request. Our account management officers will receive your request and proceed accordingly.
Can I withdraw funds when I have open positions?
- You are able to withdraw funds if you have open positions on your platform. Please note that your free margin must exceed the amount specified in the withdrawal instruction, including all payment charges. You will not be able to make a request if you have insufficient funds.
What are the relevant fees per payment method?
- ACFX does not charge any fees for deposits. Your respective banks or payment providers however might charge you additional fees.
What is the minimum amount for opening a trading account?
- The minimum amount to be able to trade with ACFX is $10 or the equivalent in cross currencies.
Why have I not yet received my withdrawal while the amount has been removed from my trading account ?
- You can check the status of your withdrawal via the client portal under ‘Transaction history’. Once the withdrawal has been processed, an e-mail is sent to you confirming this. Once you receive the e-mail, please allow up to 5 working days for the funds to show in your account.
Can I withdraw the bonus?
- The Welcome Bonus will be held solely for trading with ACFX and cannot be withdrawn. At any given time, even after the expiration of the promotional period, when a client requests a withdrawal, the welcome bonus will be removed.
Do you have charges for withdrawals?
- We do not charge for deposits or withdrawals.
Why is my withdrawal taking so long?
- Bank Transfers: are usually processed by us within 1 business day, however it takes about 3-5 business days for the funds to be credited to your bank account Credit/Debit Card: are usually processed by us within 1 working day, however it takes about 5-7 business days for the funds to be credited to your bank account Neteller: During normal working hours, are usually processed within 1 hour and reach your account instantly Skrill: During normal working hours, are usually processed within 1 hour Webmoney: Withdrawal time within 1 hour.
What happens if my account goes negative?
- The company offers a Negative Balance Protection ,meaning that all negative balances are covered by the company.
What are the trading hours?
- The trading hours are 24 hours per day, starting at 00:00 Monday and closing at 24:00 Friday server time. Server time is GMT + 2 (GMT + 3 applies during daylight saving/summer time).
The price on the chart is different than the price appearing on my trading terminal. Why?
- 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.
My order was Stop-Out. Why?
- Your order will be Stop-Out, when the margin level (Equity/Used Margin) of your trading account goes below 25%. This will trigger a stop-out and your positions will start closing starting from the most unprofitable.
I am getting a “Trade Context Busy” signal on my trading platform. What does this mean?
- This can happen when you have given your trading platform an additional instruction before it has completed an earlier task. This can happen in cases where there have been multiple mouse clicks or a hyperactive Expert Advisor.
I am getting “Re-quotes”. What does this mean?
- 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.
Do you support Trailing Stops and Expert Advisors?
- Our platform supports such functionalities. Please be aware that trading operations using additional functions on your client terminal such as Trailing Stop or Expert Advisor are executed completely under your responsibility, as they depend directly on your client trading terminal.
I have placed a take profit order and was triggered with loss. Why?
- Please be aware that when Take Profit is set on a long position, it’s 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.
I placed a pending order and was deleted. Why?
- Your pending order will be deleted from the system if the free margin (Equity – Used Margin) is not enough to cover the margin required for opening the specific order.
What is the difference between the balance and the equity that appears on my trading platform?
- 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.
Can I cancel an instant order request?
- If you placed an instant order and you decided to cancel it, it may not always be possible to cancel if the request has already been received by our trading server. You should consider that your platform will also give you a warning: “Closing of this window will not guarantee the order cancelling”.
Why can I not trade anything?
- Ensure that you have logged in using the trader password and not investor password
Why are the buy/sell symbols disabled when I try to place a trade?
- Ensure that you are entering the correct minimum volume (0.1 if you have a premium account, and 10 for shares).
Why can I not trade micro lots (volume under 0.1 lots)?
- Please note that for premium accounts, the minimum trading volume is 0.1 lots. If you wish to trade micros, then you need to transfer funds to a Classic account.
Why can I not trade a given future?
- Please note that futures have expiration dates and trades cannot be opened after their Last Trading Date.
I had a trade in a future that was closed by itself without me closing it. Why is that?
- 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.
Why am I getting the message “Trading is disabled” ?
- Ensure you are trading the correct currency pair symbol Ensure you are not trading an expired futures contract, and that you are trading within the trading hours of the particular symbol.
Why wasn’t my Take Profit not triggered, while the chart reached the price I had set?
- 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.
Why is your spread so high on EURUSD/GBPUSD (eg Over 10 pips)?
- Please note that we are using fractional pips pricing in order for the client to benefit from rounding. Instead of 4 decimal places, we use 5 and therefore the 10 pips you see are actually 1.0 pip.
Why was the swap that I was charged too high?
- On Wednesdays, the charge that applies is triple the regular swap. This is made in order to take the weekend into account.
Do you have a dealing desk?
- Yes, you can contact our execution desk to open/close/modify your trades should you have any issues
Why are the spreads higher after 11pm?
- From 23:00 to 02:00 server time, all markets are closed and therefore there is very low liquidity in the market.
Trading Platform FAQ
Sometimes when I’m trying to place an order I got an error message says “Trade Context is busy”, how this can be solved?
- Simply restart your MetaTrader 4 terminal by closing it and launching it again.
I forgot my MT4 password. What should I do?
- This can be done via the MyAtlas portal. Select ‘My Account’ and then click on Change MT4 Password.
I can’t login into my MT4 (no connection error). What should I do?
- Please make sure that you are using the correct password on the platform and check the server that you trying to log into.
MT4 indicates context busy when I try to place an order. What should I do?
- This can happen in cases where there have been multiple mouse clicks. Please restart the platform and this should solve the issue.
How do I change my MT4 password?
- 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.
The trading terminal remains white when I add it on the chart, how do I fix it?
- Please uninstall the platform, by going to “Start” on your PC, then “Computer”, and go to “C: drive”. Please select “Program Files”, and delete the file “ACFX MetaTrader 4” to ensure a full uninstallation. Please then reinstall the platform.
How can I change my password on Android/iPhone?
- To change Password on your Android/iPhone please click on the “Settings” tab, then click on “Accounts”. On the bottom right corner you will see a Key icon, please click on it. You will then get a pop up window to change your password.