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Most frequent questions

Here are the most common questions a trader would normally ask us or consider to ask before opening an account.

For more information on helpful resources related to ForexCEC and the products we offer, simply type your question below or visit our live chat service.

1. What should I do if my account is hacked?

Should your account security be compromised, we suggest you change your trading platform and User Area passwords immediately. We recommend you store your passwords securely and not on a shared or public device. Should you become aware of a security breach, we recommend you change your passwords and contact us immediately to notify us of the incident.

Yes, we take the privacy of our customers extremely seriously and we have in place policies and procedures to safeguard the information we request. You can view our privacy policy which outlines how we handle your personal information.

We only collect personal information which is reasonably necessary to provide you with quality products or services, conduct identification checks to meet our legal regulatory obligations and combat fraud. We do not sell your personal information to any third party for marketing purposes. Our privacy policy outlines how we handle our customers’ personal information in detail.

Questions about Trading with ForexCEC

1. Does ForexCEC offer trading advice?

Unfortunately, we are unable to offer you personal trading advice that may impact your trading decisions. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.

ForexCEC holds all client funds in segregated client trust accounts with AA rated Australian banks, and client funds are segregated from the company’s own funds. Our Account Terms provides further details as to how your funds are treated in the event of an insolvency.

To add funds to your demo trading account, go to Account Summary under the ‘Accounts’ section of your secure User Area. Scroll down the page to go to your ‘Demo Accounts’ section. You can add virtual money to your demo account by clicking on the ‘Add Funds’ options marked with a green dollar ($) icon available at the end of the account row.

A demo trading account contains virtual money and is absolutely risk-free. Demo accounts are designed as an educational tool to familiarize customers with our trading platforms without losing real money.

ForexCEC offers a variety of partnership programs including, but not limited to, Introducing Brokers and Affiliates. Detailed information can be found at the partnerships section on our website.

You can subscribe to our daily market forecasts by visiting your secure User Area. Select Daily Market Forecasts under the ‘Trading Tools’ section. You may choose to subscribe to daily market forecasts from either Autochartist or Trading Central, or both.

Questions about the Forex market

1. Is trading the Forex market expensive?

No, trading Forex has never been cheaper or more accessible. Traders can now trade on institutional grade pricing with a deposit of as little as $200 and leverage of up to 500:1. It is, however, important to remember that although trading on leverage can maximise profits, it can also amplify losses.

Forex traders use a variety of trading strategies based on technical and fundamental analysis. Nowadays, technical trading is becoming increasingly popular and traders are using a variety of technical indicators, such as trend lines, support and resistance levels, and numerous other methods, to identify short-to-medium term trading opportunities. Some traders choose to use fundamental analysis, which revolves around interpreting economic information including news, government reports and sometimes even rumour. Often, however, it is elements outside of technical and fundamental analysis that have the most dramatic effect on currency prices. This includes events such as central bank intervention, interest rate changes, political change or even war.

Forex traders can use a variety of risk management strategies. The most common form of risk management is the use of stop loss and limit orders. Stop loss orders can be set within the platform and are often used to force the closure of a position at a predetermined price in order to limit any potential loss. Limit orders work in much the same way as stop loss orders; however, they allow a restriction to be placed on the maximum price paid.

A variety of fundamental and technical aspects can cause an exchange rate to move. The most notable influences include interest rates, inflation and political stability. Sometimes, governments will buy or sell a currency in an effort to influence its value with a view to having a broader effect on the country’s economy. This is known as ‘central bank intervention’ and can have a significant impact on the value of a currency. Given the size and diversity of participants, no one single factor can influence the Forex market for any significant length of time.

The most popular liquid currency pairs are those from countries with politically stable governments and well-respected central banks. The most popular currency pairs are those that are paired with the US dollar, these are nicknamed the ‘majors’ and account for around 85% of transactions. The most commonly traded pairs are the EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF and USD/CAD.

The Forex market is a 24-hour market. Forex trading commences in Wellington, New Zealand and moves around the globe as business days begin in each financial centre. The major global financial centres where most Forex trading takes place are Tokyo, London and New York. The Forex market opens on Sunday at 10:00pm (GMT) and closes on Friday at 10:00pm (GMT).

Understanding Trading Platform

1. Why is my mobile trading app not working or freezing?
Platform freezing is common if there is an influx in the amount of data reaching your terminal. Make sure you are on 4G data or strong WiFi, with a high internet speed.

You can change your password for security reasons or reset it if you forget it. To change the password, open the platform and navigate to the 'Tools' menu. Under the 'Tools' menu, click on 'Options' (or click CTRL+O). Move to the 'Server' tab and click on the 'Change' button.

Enter your current password and choose the 'Change Master Password' option. You may now set your desired new password and click on the 'OK' button to save your new password.

To enable notifications on the platform, you can use the inbuilt 'Notifications' feature from the platform by navigating to the 'Options' window. You may also use the Alarm Manager offered by ForexCEC as one of its advanced trading tools.

For the inbuilt feature, go to the 'Tools' menu, and click on 'Options'. Now switch to the 'Notifications' tab and update the settings as required.

Depending on the technology you are using, it is quite normal to experience some freezing or delays on your platform during news or other volatile periods, simply because of the influx of data reaching your terminal. To minimize the risk of freezing, it is advisable to use the fastest possible internet connection with the highest possible hardware specifications.

The 'invalid account' error means you are using an incorrect username or password. This can also occur if you have selected the wrong server address. Please check your account login details and try entering them manually without any spaces.

If you have forgotten or lost your password, you can reset it via your Secure User Area. Sign in and select 'Change Trading Account Password'. Enter and confirm your new password and select 'Save'. You will receive an email confirming the change was successful.

Questions about Trading Forex CFDs Online

1. Does ForexCEC offer signals?

ForexCEC does not directly offer any signal services.

ForexCEC’ Futures CFDs are set to expire on the day the contract expires on the underlying market. When a Futures CFD contract expires, all the open positions are closed at the Futures settlement price as reported by the Futures exchange.

This process usually takes place on the day following the expiry. Open positions are not rolled to the next month, so any clients wishing to hold long-term positions must reopen the trade on the next available contract.

You are liable to pay a margin before the CFD product is issued, and you may be required to pay more margin before a trade is closed.

MetaTrader 5 and ForexCEC Trader platforms handle the hedged positions differently. On the trading platform, if the account is perfectly hedged and does not require any margin, the positions will remain open. However, in the case of the ForexCEC Trader platform, the margin is required for the direction carrying the higher volume and margin requirements, irrespective of whether the overall position of the account is perfectly hedged.

The hedge margin level may vary for different products. We suggest you make yourself fully aware of the product specifications of the instruments you are trading or intend to trade.

A trailing stop is a type of stop loss order attached to a trade that moves as the price fluctuates. It is designed to lock in profits or limit losses as a trade moves favourably by a certain amount of pips, as set by the investor. It is important to note that trailing stops only move if the price moves favourably. Once it moves to lock in a profit or reduce a loss, it does not move back the other way.

The stop limit order is a type of order that is executed at a specified or a better price after a given stop level is reached. As soon as the stop price is reached, the stop limit order becomes a limit order to buy or sell at the limit price or the next best available price.

Understanding problems

1. Why do I get the message 'invalid account'?
The 'invalid account' error occurs when your username or password is incorrect. This can also occur if you have selected the wrong server address. Please check your account details and try again.
Demo accounts will expire after 30 days of inactivity. If the demo account is still active, check that you are using the correct account number, password and server, which can be found in the email you receive when you first open the account. Alternatively, you may check your platform credentials from your secure User Area.

The chart time on and MetaTrader 5 platforms reflects server time, which cannot be changed. For the ForexCEC Trader platform, however, you may set the time as per your local time zone.

'Trade Context is Busy' is a common error. It occurs because it cannot process multiple requests at the same time. To fix this error, simply close and open your trading platform again. Please read our error code guide which outlines common error messages.

Account Application

1. How do I provide my ID documents?

Documents must be uploaded via your Secure User Area

Should you wish to update the details of your account, such as account name, phone number or email address, please send us an email at [email protected]. We will also require you to resubmit 100 points of ID so that we can verify that it is you requesting the changes.

To update your residential address details, please contact us using your registered email at [email protected] including your latest residential proof of address stating your name and new address. The address document must be no older than 90 days.

Whilst we welcome clients from all over the globe, governmental restrictions along with our company policies prohibit us from opening accounts from restricted and/or OFAC sanctioned countries.

You can provide an additional form of primary ID.

A document will not be approved if it does not meet the AML requirements outlined on our website. Should a document not be accepted by our compliance department, we will send you an email outlining why your document was not accepted.

User Area

1. How do I download the trading platforms?

You can download the trading platforms we offer from the downloads page in your User Area.

The time it takes for you to receive withdrawals depends on the withdrawal method used. You can check the average times on our withdrawal page.

If you deposit into your live trading account using a credit card, we are required to first verify the card if you do not have a 3D secure setup. For us to be able to verify the card, you will need to first upload the card to your User Area. Any card that you upload must be valid (not expired) and must be in the same holder name as the name on your trading account.

After you upload a copy of the card, we will approve it as quickly as possible for you. We can accept either a scanned copy or a clear photograph. Once the card is approved by our compliance team, you can make instant deposits at any time.

You cannot permanently remove a trading account from your User Area. You can, however, hide a trading account by simply clicking on the arrow near the account number in the account summary page. This will remove your account from the page and place it in the hidden accounts section.

No, there are no fees for transferring funds between your forex trading accounts. If you are transferring to a trading account in a different currency, you should be aware of the currency conversion rate, which you will need to agree to proceed with the transfer.

You can request a change to the leverage applied to your account from your User Area. You simply select the account number and new leverage, then submit your request.