What is Forex?

Forex, short for Foreign Exchange, is the synchronized buying of one currency and selling of another. It is the largest market in the world, trading on average US$3.4 trillion daily. The market’s participants include; Central banks, commercial banks, multinational corporations, governments, institutional and private investors.

What is the minimum amount needed to open an account?

Click here to find more details in regards to our accounts types and their related minimum deposit requirements.

How can I deposit funds with you?

You can deposit by Credit Card or Bank Transfer. The fastest and easiest way to deposit funds is with your Credit Card on the platform, we accept Visa & Mastercard and all transactions through your card are considered purchases. Depositing by bank transfer is simple and funds can be instantly credited to your account, call us for more details.

What sort of Partnership programs do you have?

Click here to study more about our Partnership Modules.

How can I change my account details?

To change your account details simply contact us and we will update them for you.

Do you have a Demo account?

Put simply, No. Demo accounts lack the emotional connection that can only be created trading with your own funds. You can register for Free so if you want to get a feel of our platform click here to go to our registration page.

What are your commissions and fees?

We do not charge any commissions or a fee to trade on our platform. We make money through the ‘spread’ this is the difference between the buy and sell price for a currency pair. This means we make money only when you open a trade, the spread is charged once on opening and then any profit you make is yours.

Am I subject to Tax?

FXGM does not deduct or pay any tax on our client’s behalf. It is the clients' own responsibility to take care of his or her own tax obligations.

How can I withdraw funds?

Funds can be quickly and easily withdrawn through the platform. Once logged in select the Portfolio window, then click on the Account Activity tab. The option to Withdraw will be selected and all you need to do is enter the amount in USD you would like to take out.

Can I open multiple accounts with FXGM?

Presently clients can only have ONE trading account with FXGM.

What is a pip?

A Percentage in Point (pip) = 0.0001 (or 0.01 in Japanese Yen) is the smallest measure of price move used in Forex trading. To calculate the value of one pip in a position you multiply the position size times 0.0001 (a pip) and you get the value of the pip in the term (second) currency. Then you can convert that value to your base currency.

Example:
100,000 AUDUSD position.
100,000 * 0.0001 = 10 USD

What are the spreads on your platform?

As we have multiple accounts for a range of traders the spreads are tailored to specific users. Our spreads are fixed and we do not charge anything apart from the spread, in saying this we offer very competitive rates for all levels of clients. Click here to check out the spreads for different accounts.

What is going ‘long’ or ‘short’?

Going long or opening a long position is when you Buy a currency with the expectation that the asset will rise in value. To go `short` is to have sold a currency with the expectation that the price will decline so it can be bought back in the future at a profit.

What is Leverage?

Also called margin. The ratio of the amount used in a transaction to the required security deposit. The higher the leverage the less margin required to invest.

Example:
1:50 leverage is the same as investing 2% of the contract value.
1:400 leverage is the same as investing 0.25% of the contract value.

How do I select a currency pair?

There are 3 easy ways to select the currencies you want to trade.

• In the Trade window select the two currencies you want to trade from the drop down lists.



• In the Quotes window find the currency pairs you want to trade and then double-click it to update the Trade window. You can also click and drag the currency pair to the Trade window.



• In the Quotes window click on Display in the options at the top, select Large. This view enables you to open trades directly from the Quotes window.

How can I open a Trade?

There are 2 ways to open a trade. You can either enter a Market Order or an Entry Order.

• A Market Order is a trade that will be opened immediately at the rate you select by clicking Buy or Sell.



• An Entry Order is a trade that you choose to open at a rate in the future. You enter your details the same as you would for a Market Order but instead of opening the trade now you enter the rate you want it to open at in the future. An Entry Order can stay in our system for up to 1 year, if the market doesn’t reach the rate then it will be cancelled at the expiry date.