FinixMarkets
Frequently Asked Questions (FAQs)
Get your answers to the frequently asked questions about our services and financial trading.
General FAQ
What is Forex?
Foreign exchange, also known as Forex or FX, is the market in which currencies are traded. The Forex market is the largest, most liquid financial market in the world, open 24 hours a day, five days a week. To put it into perspective, the New York Stock Exchange handles approximately $169 billion worth of transactions a day, while the Forex Market sees over a colossal $5 trillion worth of transactions a day.
How does Forex trading work?
Forex trading involves buying one currency while simultaneously selling another, with the aim of making a profit from the fluctuations in exchange rates. Traders can participate in the Forex market through various means, including online trading platforms, brokers, and financial institutions. The market operates on a decentralized basis, meaning that there is no central exchange or location where transactions occur. Instead, trading takes place electronically over-the-counter (OTC), with participants connected through a network of banks, brokers, and financial institutions.
What are the trading hours for the Forex market?
The Forex market is open 24 hours a day, five days a week, allowing traders to participate at any time. The market opens on Sunday at 5:00 PM EST and closes on Friday at 5:00 PM EST. Trading occurs in three major sessions: the Asian session, the European session, and the North American session. Each session has its own peak trading hours, with the most significant activity typically occurring when the sessions overlap.
Is Forex trading expensive?
Forex trading costs can vary depending on the broker and the trading platform used. Common costs associated with Forex trading include spreads (the difference between the bid and ask price), commissions, and overnight financing fees (swap rates). While some brokers offer commission-free trading with wider spreads, others may charge a commission with tighter spreads. It's essential for traders to understand the fee structure of their chosen broker and factor these costs into their trading strategy.
Registration
What information is required to register?
To register for a Forex trading account, you typically need to provide the following information:
- Full name
- Email address
- Phone number
- Date of birth
- Residential address
- Financial information (e.g., income, net worth)
I've registered — when can I make a transfer?
Once you have completed the registration process and your account has been verified, you can make a transfer at any time. However, please note that transfer times may vary depending on the payment method you choose and the processing times of your bank or payment provider.
How long does it take to verify my identity?
The time it takes to verify your identity can vary depending on the broker and the completeness of the documentation you provide. In general, identity verification can take anywhere from a few minutes to several days. To expedite the process, ensure that you submit all required documents and information accurately.
Can my driver’s licence be used as both photo and address ID?
Yes, in many cases, a driver’s licence can be used as both a photo ID and proof of address. However, it's essential to check with your broker or financial institution to confirm their specific requirements for identity verification.
Deposits & Withdrawals
How do I deposit to my account?
To deposit funds into your account, you can typically use various methods such as bank transfers, credit/debit cards, or e-wallets. Simply log in to your trading account, navigate to the deposit section, and follow the prompts to complete your transaction. Make sure to check for any minimum deposit requirements or fees associated with your chosen payment method.
What deposit and withdrawal methods do you support?
We support a variety of deposit and withdrawal methods to accommodate our users' needs. These methods may include bank transfers, credit/debit cards, and popular e-wallets. Please check our website or contact customer support for the most up-to-date information on available payment options and any associated fees.
How long does it take for deposits to be credited?
The time it takes for deposits to be credited to your trading account can vary depending on the payment method used. Bank transfers may take several business days, while credit/debit card deposits and e-wallets are typically processed more quickly, often within a few hours. Please check with your payment provider for specific processing times and ensure that you have completed all necessary steps to avoid delays.
How long does it take to receive my withdrawal?
The time it takes to receive your withdrawal can vary depending on the payment method used and the processing times of your financial institution. Bank transfers may take several business days, while e-wallets and credit/debit card withdrawals are typically processed more quickly, often within a few hours. Please ensure that you have completed all necessary steps and provided any required documentation to avoid delays.
Trading
What is a CFD?
A CFD (Contract for Difference) is a financial derivative that allows traders to speculate on the price movement of an asset without actually owning the underlying asset. In a CFD trade, the trader enters into a contract with a broker to exchange the difference in the asset's price from the time the contract is opened to the time it is closed. CFDs are popular in Forex trading because they offer leverage, allowing traders to control larger positions with a smaller amount of capital. However, trading CFDs also involves a higher level of risk, and it's essential for traders to understand the risks involved before trading.
What is spread?
The spread is the difference between the bid price and the ask price of a financial instrument. In Forex trading, the bid price is the price at which you can sell a currency pair, while the ask price is the price at which you can buy it. The spread represents the broker's profit from the trade and can vary depending on market conditions, liquidity, and the specific broker you are using. Traders should be aware of the spread when entering and exiting trades, as it can impact overall profitability.
What is a market order?
A market order is a type of order to buy or sell a financial instrument at the current market price. When you place a market order, you are essentially instructing your broker to execute the trade immediately at the best available price. Market orders are typically filled quickly, but the actual execution price may differ from the price you see at the time of placing the order, especially in fast-moving markets. Traders often use market orders when they want to enter or exit a position quickly and are less concerned about the exact price at which the trade is executed.
What is a position?
In trading, a position refers to the amount of a particular asset that a trader owns or has borrowed. A trader can have a long position, which means they own the asset and benefit from an increase in its price, or a short position, which means they have borrowed the asset and sold it, hoping to buy it back at a lower price. The size of a position is typically measured in units, such as shares or contracts, and can be adjusted by opening or closing trades.
What our clients say about us
Reliable platform with fast withdrawals
I've been trading with CapitalFXS for over a year, and it's been a smooth experience. Fast withdrawals, stable platform, and no hidden fees. Highly recommended for serious traders.
Perfect for beginners like me
As someone new to forex, I was overwhelmed at first. But CapitalFXS made it easy to get started. The education section is amazing and the platform feels very intuitive.
Great tools and market updates
I use their economic calendar and calendars daily. It saves a lot of time. Would love to see more alert features on mobile, but overall very solid service.
Excellent support team
Had an issue verifying my account — support responded within minutes and guided me step-by-step. Professional and polite, they really care about customers.
Excellent support team
Had an issue verifying my account — support responded within minutes and guided me step-by-step. Professional and polite, they really care about customers.