FREQUENTLY ASKED QUESTIONS
Find answers for Frequently Asked Questions or contact our friendly client support team on our 24/5 live chat feature.
We strive to keep our spreads as low as possible and deliver rapid executions, we have no dealing desk intervention and no requotes.
On the Pro account clients receive a raw spread and pay a small commission on each trade. On the Standard account there is zero commissions but the spreads are slightly wider.
Yes
Yes, visit our education page by clicking here.
50+ currency pairs are available to trade on our platfroms.
You can deposit using Visa or Mastercard, Bank Transfer, Cryptos, Mobile Money, Neteller, Skrill and other payment solutions.
Most deposit methods are instant, others such as cryptocurrency gateways may vary. Information will always be provided on payment pages.
Proof of ID (Driving license, passport, national ID) and Proof of Address (Bank statement or utility bill) dated within the most recent 3 months.
Demo accounts are training accounts that you can use to test out a platform or practice trading. They do not use real money, and so there is absolutely no risk involved.
We aggregate multiple Tier One banks to ensure our traders get the best price.
At times of high market volatility, you may experience slippage due to prices moving fast or gapping. Your stop price will not be filled in these instances of when the ask price hasn’t hit your order.
Yes, this is dependent on your account type and minimum funding amount applies.
No, demo accounts are funded with virtual money.
All clients funds are segregated and can be recovered in the unlikely event of insolvency.
To change the time frame, select the chart then select the time period from the top toolbar. Alternatively, the time frame can be changed by right clicking on the chart, selecting Timeframes then your preferred option.
Select Pricing in the Menu, and the dropdown will lead you to our ‘Swaps’ page
Invalid account will be displayed in the bottom right corner of your MT4 platform if you have entered the wrong account number, password or server.
Please ensure that you have enabled automated trading on your trading platform before starting your EA.
Invalid account will be displayed in the bottom right corner of your MT4 platform if you have entered the wrong account number, password or server.
To add an EA, open MT4 and then go to 'file' and then 'open data folder'. Choose 'MQL4', and then 'expert advisors' or 'indicators'. You can then copy the file you want to add into this location.
A margin call will occur when your account requires more money, if there isn’t enough money available trades will be automatically closed out. If slippage occurs you can end up losing more than you have deposited, please check our slippage policy for more information.
One major difference between the two platforms is that MT4 is a ticket based platform while cTrader is both ticket and position based. In a ticket-based platform; each trade is registered separately requiring the trader to close each position separately if need be.
Yes
Yes, please contact your account manager for more information.
In its simplest definition, Free Margin is the money in a trading account that is available for trading. To calculate Free Margin, you must subtract the margin of your open positions from your Equity (i.e. your Balance plus or minus any profit/loss from open positions).
Gaps are sharp breaks in price with no trading occurring in between. Gaps can happen moving up or moving down. In the forex market, gaps primarily occur over the weekend because it is the only time the forex market closes.
This message generally means you lost internet connection or selected the incorrect server.
Spread is the difference between a forex broker's sell rate and buy rate when exchanging or trading currencies.
We charge $7 US Dollar commission per lot round turn on Professional accounts as well as a spread. There are no hidden fees.
There is no time limit for how long you want to keep your positions open.
Yes, please visit our Platforms page for more information.
We offer both positive and negative slippage, please refer to our slippage policy here
Step 2: Type in the word 'ping' followed by a blank space and the IP address of the server you wish to ping.
We work hard to approve accounts as quickly as possible, can be as quickly as a few minutes.
Yes
Joint accounts are not available on MT4.
Go to the account details page in your client office. (Click here to be taken straight there)
You will be required to upload them to your client office as part of the application. Alternatively you can email your documents from your registered email address to support@iconfx.com
There is a client Log In option in the top right hand corner of the home page.
Go to the accounts page in your client office. (Click here to be taken straight there)
Go to the open a new accounts page in your client office. (Click here to be taken straight there)
Once you are logged in to your client office, there will be an option under your account management which allows you to do an “Internal fund transfer”. Please select this and input which accounts you are making the transfer between.
It depends on the withdrawal method used but many available are instant.
You can find the links to download the platforms on the platforms page here.