Forex classic account
If you are in any doubt, please contact your bank or card issuer. Cash or third party payments are not accepted. We only accept funds originating from an account held in your name, and third party funds will be rejected and returned to the originator with the applicable charges deducted from the payment amount.
Please be aware that Z. Please make sure that all required information is valid and correct when entering your payment details. Any charges imposed by our payment gateway provider in such cases may be deducted from the payment amount.
Please be aware that we only return funds to source to comply with Anti-Money Laundering Regulations. If your details change and you would like to use a different account when withdrawing, you will be required to provide a statement dated within the last six months for verification purposes. We cannot guarantee the exchange rates for bank wire deposits made in the currency denominations other than those of our bank accounts.
Any such funds received shall be converted to your account currency based on the relevant bank exchange rates. The time taken for the withdrawal amount to be credited to your beneficiary account can vary depending on your bank, issuer or payment service provider. Faster withdrawals are available at an additional charge for GBP trading accounts only. If you require a faster withdrawal, please contact us.
For any withdrawal requests received after the cut-off time, we cannot guarantee same-day processing, however such requests will be processed on a best-endeavour basis. No requests shall be processed on Saturdays, Sundays or on UK bank holidays. Please be aware that you can only make one withdrawal request per day. For withdrawals where there has been no trading activity or if any form of abuse is judged to have occurred, we reserve the right to deduct any deposit or withdrawal fees charged by our payment service provider to us from your withdrawal.
It is our utmost priority to ensure that the funding process is fast and easy for you, however, there may be circumstances where we require additional information before your withdrawal request can be validated. As a result, your withdrawal may be subject to a delay of up to one business day as we validate the withdrawal request by requesting additional information from you. In this event, your withdrawal will be processed after we receive the required information.
Please make sure that all required information is valid and correct. Any charges imposed by the receiving bank may be deducted from the withdrawal amount. Cent accounts are trading accounts in the foreign exchange market with balance measured in cents instead of the US dollars.
Trading accounts dealing in cents are handled the same way as any US dollar account with the only difference being the nominal amounts. In , the LiteForex company was the first in the world to offer the cent accounts. The technology of cent accounts was initially intended for developing and testing trading systems by working with real money.
Retail brokerage companies say that cent accounts can be useful to Forex beginners since they allow trading with real money without risking too much. Cent account balance is indicated in cents, which helps beginners get accustomed to seeing sums of many thousands on their accounts. Cent account is a kind of a transitional stage between demo and dollar accounts being a first step into a real trading, an opportunity to decrease the minimum available position size to 0.
There is no minimum or maximum deposit and no other specific requirements to open a cent account. The disadvantage of cent accounts is that the majority of Forex brokers offering such a service limit the maximum account and position size to keep the usage down to a minimum.
Also, the cent accounts are associated with higher quote spreads to compensate brokers.