FAQ

About ForexCT

Who is ForexCT?

Founded in 2006, ForexCT is an online foreign exchange and CFD trading platform. Our mission is to continue being the number one online trading provider of choice among Forex traders worldwide. Over the past eight years, ForexCT has grown to become one of the world’s leading Margin FX providers. We are committed to delivering the highest level of customer service with our fully secure, compliant, and reliable Forex trading platform.

What services does ForexCT provide?

We provide Margin FX and CFD trading services that let traders get up and running in as little as five minutes. We also supplement these services with a comprehensive suite of educational solutions.

Is my money safe with you? Where is my money held?

Yes. Client money sits in segregated bank accounts monitored by HSBC Hong Kong and DBS Singapore Bank.

If I trade with ForexCT, will I receive a dedicated Account Manager?

Yes. Every ForexCT client receives a dedicated Account Manager. Our Account Managers provide the highest level of customer service in the industry, whether that means being on hand 24/7, proposing innovative trading strategies to test out, or going the extra mile to fulfill a client request.

What are your trading platform hours?

The platform is accessible 24 hours a day, 7 days a week. Please refer to our  Product Sheet for a list of instruments and their trading hours.

Do you offer 24-hour customer support?

Yes. Customer support representatives are available 24 hours a day, Monday through Saturday and can be reached at +44-870-8200087.

Opening Account and Funding Information

How do I get started?

Click here to complete our quick online registration form and begin trading in minutes.

Is it free to open an account?

Yes. You can open an account without adding any funds. However, if you wish to begin trading, you will need to deposit funds into your account. Click here to read about all our deposit options.

What documentation do I need to provide for opening an account?

We require two things: a copy of your current photo ID and a recent proof of address document. Examples of identification that we accept are passports, national ID cards, or driver’s licences. Examples of proof addresses that we accept are electricity bills, bank statements, or rental/purchase contracts.

Where do I send supporting documentation?

Email the supporting scanned documentation to accounts@forexct.com or fax to +44-203-3188584. Alternatively, you may upload supporting documentation via the desktop and web PROfit platform.

How soon can I start trading?

Once you complete the online registration form and we have confirmed your identity using the provided supporting documentation, you will be able to begin trading within minutes.

Which account funding options do you offer?

You can fund your account with credit/debit card, bank transfer (EFT) or international telegraphic transfer (TT). Please see our Payment Options page for additional information.

Which credit/debit cards do you accept?

We accept Visa, MasterCard, American Express and JCB credit/debit cards.

How do I deposit via bank transfers (EFT)?

Please use the below account information for bank transfers. For USD Payments
Bank Name: DBS Singapore Bank
Beneficiary: Forex Capital Trading Ltd
SWIFT: DBSSSGSG
Bank Account Number: 0003-006186-01-4
For USD Payments
Bank Name: HSBC Hong Kong
Beneficiary: Forex Capital Trading Ltd
Beneficiary Bank Code: 004 (for local payment)
SWIFT: HSBCHKHHHKH
Bank Account Number: 048-849335-838

How long does it take for the funds to clear into my trading account?

Funds deposited by credit/debit cards appear instantly. Funds deposited by EFT/TT generally appear in 2-3 business days.

Does ForexCT charge any deposit or withdrawal fees?

No. We do not charge our clients deposit or withdrawal fees. However, note that your bank or credit card provider may charge transaction fees, which are not covered by ForexCT.

Do you accept third party payments?

No. We do not take payments from third parties.

What is the minimum I can deposit?

You can begin trading with a deposit of as little as $500 USD.

How do I withdraw funds from my trading account?

Withdrawing funds is simple and can be completed without leaving our trading platform. For PROfit platform users: once you are logged into the platform, select the “More” icon, click on “Withdraw”, and enter the requested information. For MT4 users: log onto the withdrawal page and enter your withdrawal request.

How long does it take for withdrawals to be processed?

Processing time is 2-3 business days.

Can I request ForexCT to make payment to a third party bank account?

No. We remit money to the same source from which it was originally received.

Who can assist me with questions about opening my account/deposits/or withdrawals?

Every ForexCT client has a dedicated Account Manager. Should you have any questions, please contact your Account Manager 24/7 at +44-870-8200087. If you prefer other communication methods, please feel free to email us at accounts@forexct.com or chat online with our live customer support representatives.

Trading Platforms

Select the trading platform that fits your style:
ForexCT offers a number of different trading platforms:
  1. Desktop PROfit: Forex and CFD trading has never been easier. Our desktop PROfit platform delivers cutting-edge trading tools for traders of all levels.
  2. WebPROfit: Enjoy the same standout features and an unmatched trading platform without the need for additional software installation.
  3. Mobile PROfit: Manage your portfolio on the go with our mobile applications that offer the same set of comprehensive trading tools. Available on iPhone, iPad and Android.
  4. MetaTrader 4 (MT4): Packed with powerful tools and sophisticated analysis, MetaTrader 4 is the most popular online trading platform for technical traders in the Forex market.
  5. Mobile MT4: Stay on top of market movements no matter where you are. Get access to cutting-edge analysis, sophisticated research and flexible trading tools. Available on Android, iPhone, and iPad.
    Click here to learn more about our trading platforms.
Can I trade using my Apple Mac?

Yes. Our WebPROfit platform is compatible with Mac OS.

What are the minimum system requirements for using desktop PROfit?

Operating systems: Windows XP SP3/Vista/7/8
Processor: 1.6 GHZ
Ram: 512 MB
Screen Resolution: 1024x768 (15-17 inch monitor), 1280x1024 (19-22 inch monitor), 1600x1200 (24+ inch monitor)
Broadband internet connection

What are the minimum system requirements for using MT4?

Operating systems: Windows XP SP3/Vista/7/8
Processor: 1.5 GHZ
Ram: 1 GB
Screen Resolution: 1024x768
Broadband internet connection

Can I practice on a demo account?

Yes. Join today for your demo account funded with $100,000 virtual cash. Test new trading strategies and complex positions in a safe and secure environment.

Forex & CFD Trading

What is Forex? What is Margin FX?

Forex is shorthand for ‘foreign exchange’. Forex trading involves buying and selling currencies. It is by far the most popular and largest financial market in the world.
Margin FX refers to the act of margin trading in the Forex market. In other words, executing a Margin FX contract means an agreement to trade the difference in the value of an underlying instrument between the time the Margin FX contract is opened and the time it is closed. It is an over the counter (OTC) product and is based on a private contract between ForexCT and the trader.
Please visit our Education page for additional information or learning resources.

What is a CFD?

CFD is shorthand for ‘Contract For Difference’. Similar to a Margin FX contract, a CFD is an agreement to trade the difference in value of an underlying instrument between the time the contract is opened and the market value at the time that it is closed. ForexCT offers OTC CFDs that exist as a private contract between ForexCT and the trader.

What type of products can be traded on ForexCT’s platforms?
Please refer to our Product Sheet for a full list of all the products we offer. Examples of tradable products include:
  • Margin FX
  • Spot metal CFDs
  • Index CFDs (futures)
  • Commodity CFDs (futures)
What is a spread?

A spread is the difference between the sell and the buy price – also known as the bid-ask spread. For example, if the EUR/USD were quoted on our platform as trading at 1.3610/1.3612, then the spread is 2 pips.

What is a pip?

Pip stands for ‘Percentage in Point’. It is equivalent to 1/100th of 1% (equivalent to a basis point). A pip is the smallest value of measurement for Forex currency pairs.

What is leverage trading?

Leverage trading lets you trade the market with a relatively small fraction of the total face value of the trade. This enables you to maintain the same level of exposure but without paying the full value of the trade. Leverage trading can magnify gains but also amplify losses.

What size leverage do you offer?

We offer leverage of 200:1 for beginners and 400:1 for experienced traders.

How much margin do I need to open a trade?

The amount of margin required to open a trade will vary based on several factors: the size of the trade, the amount of leverage, and the underlying product itself.

Can I lose more than my cash balance?

No. With ForexCT, rest assured that your cash balance will never become negative. We offer negative balance protection to all of our clients, regardless of account size.

Do you have forced margin calls?

No. ForexCT does not force margin calls. Clients have full control over whether or not to deposit additional money into their accounts in order to shore up their positions.

What is the swap or rollover interest that I earn or pay if I hold a position overnight?

Please check your trading platform or the Product Sheet for our current rollover rates.

What are ForexCT’s commissions and fees?

We do not charge commissions. We do charge two fees – a small bid-ask spread that is included in the price when opening a position, and rollover interest on positions held overnight.

What type of orders can I place?
ForexCT clients can choose from a variety of order types:
  1. Market order: An order to buy or sell a position at the market rate.
  2. Entry order: An order to buy or sell a position at a specified price outside of the market rate.
  3. Stop loss order: An order to buy or sell a position at a specified price that is less profitable than the market rate.
  4. Take profit order: An order to buy or sell a position in order to close a transaction at a specified price that is more profitable than the market rate.
  5. One Cancels the Other (‘OCO’) Order: A combination of a stop order with a limit order. This order represents a pair of linked entry orders where if one order is executed, the other is immediately cancelled.
Do you offer free stop losses?

Yes. ForexCT guarantees free stop losses on every trade so you can trade smarter and with more certainty. We believe in protecting your trades from market gapping and currency volatility.

How important are stop loss orders?

Stop loss orders are a fundamental element of risk management for any trader. A stop loss order allows you manage your losses by automatically closing a position once the market reaches a specified threshold.

Are there minimum distance requirements for stop losses and take profits?

Yes. Please refer to your trading platform for the minimum distance requirements. These requirements will vary based on the underlying instrument.

Can I hedge on your platform?

Yes. Hedging is allowed on ForexCT’s trading platforms.

Do you offer fixed spreads?

Yes. Our fixed spreads stay constant no matter what happens. This allows you to better strategize and control your transaction costs during volatile market conditions.

Education

What education solutions do you offer?

ForexCT offers a wide range of educational services that help you take your trading to the next level. Our solutions include eBooks, video tutorials, webinars, courses, daily market reports, and one-on-one sessions with ForexCT professionals. For more information, check out our Education page or contact your Account Manager directly on +44-870-8200087.

How do I start receiving daily market reports?

Enter your email here or contact us on +44-870-8200087 to be the first to get timely daily commentary on global markets.

Is ForexCT’s education free?

Yes. Please contact our Account Managers on +44-870-8200087 for more information on how to get started.

Support

Who do I contact if I have a technical issue?

You can contact us via telephone, live chat, or email.

  1. Telephone: Our Technical Department is available on +44-870-8200087.
  2. Live Chat: Contact our online representatives via our website or your trading platform.
  3. Email: Send your query to support@forexct.com and we will respond within one business day.
I don’t remember my username or password – where can I retrieve this?

Your username is the email address that you originally used to register your account. If you have forgotten your username and/or password, you have two options:

  1. Check your email for the welcome email that you initially received when you registered for your ForexCT account.
  2. If you cannot locate this email, go to the ForexCT launcher, click “Forgot password”, and follow the instructions to retrieve your personal information.
How do I change my password?

Navigate to the ForexCT launcher, click “Change password” and follow the instructions.