You will be able to fund your account once it gets verified to start trading
VIP Premium Accounts are offered to selected individuals with high deposits (typically $50k or equivalent) and those actively trading large volumes. VIP clients benefit from free VPS service and the possibility of decreased spreads/commissions. Contact us for more details and how to benefit from VIP services.
Clients may open a trading account in USD, EUR, GBP, AUD, CHF,
It is recommended that you select a Wallet currency in the same currency of your deposits and withdrawals in order to avoid any conversion fees, however you can select different base currencies for your Trading Accounts. When transferring between Wallet and an account in a different currency, a live conversion rate will be applied.
The document(s) required and their current verification status can be seen at any time in your account information.
(A Proof of residence, such as a bank statement or utility bill, issued within the last 3 months, may also be required).
Document verification is usually very fast and you can always check the status from the same section.
Please note that uploading the documents through your account is the only acceptable channel of submitting these documents.
The stringent regulatory environment establishes KYC as a mandatory and crucial procedure for financial institutions.
The regulations which directly impact client onboarding are Anti-Money Laundering (AML) and Know Your Customer (KYC). These regulations require to carry out account verification procedures i.e. due diligence on our clients in order to verify their identity.
In doing so, we can determine whether a customer is who they say they are. Screening processes involving checking their names against AML watchlists also help ensure that they haven’t been involved in financial crimes such as money laundering.
We accept Bank Wire transfers, Credit/Debit cards, Neteller, Skrill and some more methods available as per your country of residence.
All available payment methods and processing times under each jurisdiction can be seen via this link: https://plusfx.com/deposit-methods/
Deposited funds are automatically credited to your Wallet. You may transfer any amount between your Wallet and your trading accounts at anytime you wish. Log in to your account select ‘Deposit Funds’ or ‘Wallet’ and choose your preferred payment option.
Please see more information in regards to our available payment methods on this link:
https://plusfx.com/deposit-methods/
For international bank wire deposits, please allow 3-5 business days for funds to reflect in your Wallet. PlusFX does not charge for bank wire deposits but the sending and correspondent bank may charge according to their own fee structure.
SEPA transfers usually reflect within the same business day and the fees are very low (usually a few euros).
We accept Credit/Debit cards including Visa, Visa Electron, MasterCard, Maestro International, Maestro UK.
Log in to your account, select ‘Deposit’, choose Bank Wire method and fill out the required information.
The relevant banking details will appear on the screen for you to use to make a transfer to us.
Log in to your account and select ‘Withdraw’ or ‘Wallet’.
Please note that in order for the withdrawal to be successful, you should transfer your funds to your Wallet.
Kindly note that you must follow our withdrawal policy which instructs that clients must withdraw via the same method used to deposit, unless that method has been fully refunded or refund limits have expired. In this case, you may use bank wire method, or an e-wallet previously used to fund (as long as it can accept payments) to withdraw profits.
After the cancellation of a card, banks are obliged to allow limited transaction types to take place, including refunds, usually for at least 6 months. You should therefore withdraw funds to the card you used to deposit, even if this card has been cancelled. You will receive these funds to your new card which is connected to the same bank account as your previous, cancelled card.
If the bank account linked to the card is completely closed, you will need to send proof of account closure to our accounting department.
During normal working hours, withdrawals are usually processed within a few hours. If the withdrawal request is received outside working hours, it will be processed the next working day.
Bear in mind that once processed by us, the time taken for your withdrawal to reflect will depend on the payment method.
Card withdrawals can take around 5-7 working days and International Bank Transfers may take 3-5 business days depending on your bank. SEPA and local transfers usually reflect within the same business day, as do E-Wallets transfers.
Please note that although card deposits are processed immediately, this does not mean that funds have already been received in our bank account as the bank clearing procure usually takes some days. However, we credit your funds immediately in order to be able to trade instantly and protect open positions. Unlike deposits, the withdrawal procedure takes longer.
Contracts for Difference (CFDs) are derivative instruments that allow traders to speculate on the changing values of underlying assets without having to take ownership of them. In a contract for difference, a buyer and a seller agree that the seller will, upon expiration of the contract, pay the buyer the difference between the value of the asset at the time of the contract agreement and the contract expiration. If the difference is negative then the buyer must pay the difference to the seller. When trading CFDs traders buy (go long) when they are expecting a rise, and sell (go short) when expecting a drop in value.
Forex Currencies are traded in pairs. Each currency is presented as a three letter abbreviation and is usually separated from the currency it is paired with a space, a point, or a slash. For instance, EUR/USD refers to the Euro US Dollar currency pair.
The first currency in the pair is known as the base currency. The second currency in the pair is known as the quote or term currency. The value of the pair is defined by how much of the quote currency is required to purchase a single unit of the base currency.
So if EUR/USD is currently trading at 1.31 then this means that $1.31 is required to purchase €1.
A stop-loss order may serve as an additional risk minimisation strategy. However, the requested price of a stop-loss order is never guaranteed. This is because the price at which the stop-loss order is placed serves only as a ‘trigger point’. In the event that the price of the financial instrument being traded reaches the trigger price, your stop-loss order will be treated as a market order and executed at a Volume Weighted Average Price (‘VWAP’) as per the Order Execution Policy. As a result, a stop-loss order may be executed at a worse price. This applies to all ‘stop’ orders placed on any of our platforms.
The leverage available to you may differ depending upon your jurisdiction and the instrument/platform you are trading with.
Please follow the link below to find out more information in regards to leverage: Leverage Information – Plusfx
Limit and stop orders are often confused with each other as both are pending orders that instruct a broker to open or close a position when an asset’s price reaches a certain level.
Buy limit orders instruct that a position is opened when the market price reaches a level lower than the current price. Sell limit orders instruct that a position is opened when the market price reaches a level that is higher than the current market price. Conversely, buy stop orders are entered above the current market price and sell stops are entered below the current price.
Bear in mind that pending Limit orders are executed with ‘Limit Execution’, meaning you will receive your requested price or better, whereas Stop orders are executed with ‘Market Execution’, meaning that the trade is executed at VWAP.
3 Fund your account and trade
