FREQUENTLY ASKED QUESTIONS

  • ACCOUNT OPENING
  • CLIENT FUNDING
  • TRADING
What supporting documents do I need to provide if I want to be your client?

"A color copy of valid passport or other official identification document issued by authorities (e.g. driver's license, identity card, etc). The identification document must contain the client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and the client's signature.
A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address."

How long it takes to open a live account?

You just need to complete our simple 3 step registration process, submit a proof of identification and proof of address and your trading account will be opened immediately.

How soon can I start trading?

Provided that you have completed our 3 step registration process, upload your documents and deposited funds to your account, you should be ready for trading immediately.

What proof of identity document is needed?

You need to submit a recent utility bill dated within the last six months, or a recent local authority tax bill, or a recent bank or credit card statement.

What kind of proof of identity document is needed?

You can submit a passport, national identity card or other document issued by an independent and reliable source that carries your photo. Your photograph, signature, issue & expiry dates, personal details including serial number must be clearly visible.

Can I open a joint account?

As a 1st step, you need to complete our simple 3 step registration process and then complete our joint account application form. The joint account application can be obtained by sending an email to info@tradecmx.com

How do I change the leverage on my account?

You need to log in to the Client Portal  and proceed with the “Change Leverage” request. The leverage is usually changed within 1 hour during normal business hours. In order for us to be able to change your account leverage, your account should not have any running (open) positions.

Can I manage multiple accounts?

As long as you have more than one account then you can manage these accounts by using the IronForex MT4 MutliTerminal platform that allows you to manage several accounts simultaneously.

What are the different payment methods I can use to fund my account?

You can use any of the below payment methods to fund your account:
1.      Bank Transfer,
2.      Credit / Debit Card,
3.      eWallet,
4.      Neteller,
5.      Skrill,
6.      Bitcoin

How do I deposit funds into my trading account?

You can login to the client terminal and use any payment method you prefer for depositing funds into your trading account. Funding with Credit/Debit card, PayPal, Neteller, and Bitcoin is initiated directly via your client portal.

Which currencies can I use to deposit funds into my trading account?

You can deposit funds in 4 different currencies such as EUR, USD, GBP, and JPY In case you deposit funds in a currency different than your base currency account, then it will be converted into the base currency of your trading account by us at the prevailing rate at the given time.

How long does it takes for my funds to be deposited into my trading platform?

Upon receiving your funds, we will credit them into your trading account as below:
· Bank Transfer: It is affected by your bank and correspondent bank timings. We commit to record the funds into your trading account within an hour following receipt into our clients’ bank accounts.
· Credit/Debit Card: during normal working hours, usually are processed within 1 hour
· PayPal: during normal working hours, usually are processed within 1 hour
· Neteller: during normal working hours, usually are processed within 1 hour
· Bitcoin: during normal working hours, usually are processed within 1 hour
Note: Our normal working hours are 09.00 until 17.30. Deposits made using your Debit or Credit card or e-wallet beyond the core business hours may not be credited until the next working day

In case I withdraw my funds, how long does it take to reach my personal account?

Below, we list the estimated time for your funds reaching your account:
·         Bank Transfers: usually are processed by us within 1 business day, however, it takes about 3-5 business days for the funds to be credited to your bank account
·         Credit/Debit Card: usually are processed by us within 1 working day, however, it takes about 5-7 business days for the funds to be credited to your bank account
·         PayPal: during normal working hours, usually are processed within 1 working day, and reaching your account instantly
·         Neteller: During normal working hours, usually are processed within 1 working day, and reaching your account instantly
·         Bitcoin: During normal working hours, usually are processed within 1 working day, and reaching your account instantly 

What should I do in case I want to withdraw my funds from my trading account?

It is very simple. You just need to log in to our client portal and make you withdrawal request. Then our account management officers will receive your request and proceed accordingly.

Can I withdraw funds when I have open positions?

Yes, you can. You need to be aware though that at the moment of payment, your free margin must exceed the amount specified in the withdrawal instruction including all payment charges. Free margin is calculated as equity less necessary margin (required to maintain an open position). If you do not have sufficient funds then your request will be considered canceled and you need to resubmit a new withdrawal request.

What are the relevant fees per payment method?

Please note that we do not charge any additional commissions from our side on either deposits or withdrawals. Fees, however, do apply from the respective banks or payment processing companies.
The amount to be credited to your account will be as actually received by us. However, on Credit/Debit Cards ONLY we will deposit the amount as initially instructed from you (i.e. before any charges applied by credit/debit card processing company).
We would like to ensure you that we have negotiated best possible fees with all our banks and payment processing companies.

What is the minimum amount for opening a trading account?

The minimum amount is USD 5 or other currency equivalents.

I have placed a take profit order and was triggered with loss. Why?

You should note that the take profit for a long position is placed above the prevailing market price. As a result, if you place a take profit after you open a position when it is already in a loss, take profit will act as a stop loss and your position will be closed with a loss (i.e. take profit is placed below the opening price in this case but above the prevailing market price).

The price on the chart is different than the price appearing on my trading terminal. Why?

The charts show the Bid price by default. A Buy position is opened with the Ask price and closed with the Bid price. You have to add the spread on the Bid price to find the Ask price. Therefore the difference in price is due to the spread.

My order was Stop-Out. Why?

You order will be Stop-Out, when the margin level (Equity/Used Margin) goes below 5%. This will trigger a stop-out and your positions will start closing starting from the most unprofitable.
We ahve the right to begin closing positions starting from most unprofitable when the margin level falls below 10%. If Margin level is equal or less than 5%, all positions are automatically closed at market price.

I am getting a “Trade Context Busy” signal on my trading platform. What does this mean?

This can happen when you have given to your trading platform an additional instruction before it has completed an earlier task. This can happen in cases where multiple mouse clicks or a hyperactive Expert Advisor.
This can be resolved by restarting your trading platform.

I am getting “Re-quotes”. What does this mean?

When there is a high volatility in the market, prices are rapidly changing. Under this scenario, we need to offer you the new latest market price. In such an event, you can either accept the new re-quoting or just reject the new price and cancel the execution of the transaction.
Another possible reason for getting re-quote could be the possibility of having a slow or bad internet connection which can delay the transmission of orders; implying that on your trading platform you are viewing old prices instead current market prices.

Do you support Trailing Stops and Expert Advisors?

Our platform supports such functionalities. You should be aware though that trading operations using additional functions on your client terminal such as Trailing Stop or Expert Advisor are executed completely under your responsibility, as they depend directly on your client trading terminal.

I placed a pending order and was deleted. Why?

Your pending order will be deleted from the system if free margin (Equity – Used Margin) is not enough to cover the margin required for opening the specific order.

What is the difference between the balance and the equity that appears on my trading platform?

The balance illustrates your closed positions Profit/Loss while the Equity is the real time calculation of Profit/Loss i.e. it takes into account both open and closed positions.

Can I cancel an instant order request?

If you placed an instant order and you decided to click “cancel” it may not always be possible to cancel the request if the request has already been received by our trading server. You should consider that your platform will also give you a warning too: “Closing of this window will not guarantee the order cancelling”. This is because your order is already sent to our servers.

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