Frequently Asked Questions
1. 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.
2. Do I need to provide my proof of residency?
Yes, you do. To start trading and to be able to make withdrawals from your account, your account has to be validated, therefore you must provide a recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection) or bank account statement not older than 6 months and confirming your registered address.
3. Why do I need to submit my documents for account validation?
As a regulated company, we operate in accordance with several compliance-related issues and procedures imposed by our main regulatory authority, CySEC. These procedures involve the collection of adequate documentation from our clients with regards to KYC (Know Your Client), including the collection of a valid ID card and a recent (within 6 months) utility bill or bank account statement that confirms the address the client has registered with.
4. Can I open an account by providing a different identification document instead of my passport?
Yes, you can. It is preferable, however, to use the same personal details as for your other trading account(s). You can register for an additional account in the Members Area with 1 click. Kindly note that the maximum number of accounts allowed per client is 8.
5. Do I need to upload my documents again if I open a new trading account and my first account was already validated?
No, your new account will be validated automatically, as long as you will use the same personal /contact details as for your previous account.
1. How can I open a trading account?
It is simple and quick. Click Open a Real Account, fill in the form and upon completion you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already an PlussFx Real Account holder you can open an additional account in the Members Area.
2. How long does it take to open a trading account?
In case you fill out all details correctly, it takes less than 5 minutes.
3. How can I start trading?
If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit, the next step is to download the trading platform of your choice.
You can find detailed guidance to our trading platforms here.
4. What trading account types do you offer?
We offer the following trading account types:
MICRO: 1 micro lot is 1,000 units of the base currency
STANDARD: 1 standard lot is 100,000 units of the base currency
ZERO: 1 standard lot is 100,000 units of the base currency
For further details, please click here.
5. What is the minimum deposit/withdrawal for a trading account?
It is $1000 for MICRO and STANDARD accounts, while for ZERO accounts it is $25000.
6. Do you offer Islamic accounts?
Yes, we do. You can request a swap-free Islamic account by following the instructions described here..
7. Can I change the base currency of my account?
It is not possible to change the base currency of your account; however, you can open a new account at any time and then specify your preferred base currency.
8. Is it possible to lose more money than I deposited?
No, you cannot lose more than the amount you deposited. Should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with your next deposit.
9. Can I lose the bonus? Do I have to refund it if I lose it?
As the bonus amount is part of your equity and can be used for trading, it is possible for you to lose it. However, you do not have to refund it, moreover, according to the Bonus Terms and Conditions, you can receive a new bonus on your new deposit.
10. How can I see the charts?
Please right click on any of the symbols in the Market Watch that you want to see and choose the Chart Window option. Alternatively, you can drag-and-drop any symbol in the chart window.
11. What spreads do you offer?
We offer variable spreads that can be as low as 0 pip. We have no re-quoting: our clients are given directly the market price that our system receives. You can read more about our spreads and conditions here.
12. What are your trading hours?
The market is open from Sunday 22:05 to Friday 21:50 GMT. However, certain instruments have different trading hours (e.g. CFDs), the details of which you can view here.
13. What is stop loss?
Stop loss is an order for closing a previously opened position at a price less profitable for the client than the price at the time of placing the stop loss. Stop loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders. For further details about the distance in points for each currency pair, please view the limit and stop levels here.
Using stop loss is useful if you want to minimize your losses when the market goes against you. Stop loss points are always set below the current ASK price on BUY, or above the current BID price on SELL.
You can also view this video tutorial for a more detailed explanation.
14. What is take profit?
Take profit is an order to close a previously opened position at a price more profitable for the client than the price at the time of placing the take profit. When the take profit is reached, the order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders. For further details about the distance in points for each currency pair, please view the limit and stop levels here.
You can also view this video tutorial for a more detailed explanation.
15. What is trailing stop?
Trailing stop is a type of stop loss order. It is set at a percentage level either below the market price for LONG positions, or above the market price for SHORT positions. Kindly note that you need to leave certain distances from the current market price when you set up stop/limit orders. For more details about the distance in points for each currency pair, please view the limit and stop levels here.
16. Can I change my leverage? If yes, how?
You can change the leverage under the tab My Account, and then by clicking the tab Change Leverage in our Members Area. This method of changing leverage is instant.
17. Can I change my account type?
No, you can’t. Please register for an additional account in the Members Area.
1. What deposit/withdrawal options do you have?
Currently, you can choose from the following options to deposit and withdraw funds: multiple credit cards, multiple electronic payment methods, bank wire transfer, local bank transfer, and other payment methods. Please read further detail about our deposit options and withdrawal options on our respective website pages.
2. In which currencies can I deposit money into my trading account?
You can deposit money in any currency and it will be automatically converted into the base currency of your account, by PlussFx prevailing inter-bank price.
3. If my withdrawal amount exceeds the amount I have deposited via credit/debit card, how can I withdraw?
Since we can only transfer the same amount back to your card as the amount you have deposited, profits can be transferred to your bank account via wire transfer. If you have also made deposits via E-wallet, you also have the option to withdraw profits to that same E-wallet.
4. Can I withdraw my money whenever I want?
To withdraw funds, your trading account must be validated. This means that first you need to upload your documents in our Members Area: Proof of Identity (ID, passport, driving license) and Proof of Residency (utility bill, telephone/Internet/TV bill or bank statement), which include your address and your name and can’t be older than 6 months.
5. Can I withdraw my money if I have an open position?
Yes, you can, if now of payment your free margin exceeds 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 free margin in your trading account, the system will not accept your request and you will need to lower the amount. Please note, that any credit bonus in your account is considered as part of your equity and will be deducted as the result of any withdrawal.
6. How long does it take for funds to reach my bank account?
It depends on the country the money is sent to. Standard bank wire within the EU takes 3 working days. Bank wires to some countries may take up to 5 working days.
7. I used more than one deposit option, how can I withdraw now?
If one of your deposit methods has been a credit/debit card, you always need to request withdrawal up to the deposit amount, as a prior to any other withdrawal method. Only in case that amount deposited via credit/debit card is fully refunded back to source, you may select another withdrawal method, according to your other deposits.
8. Are there any extra fees and commissions?
At PlussFx we do not charge any fees or commissions. We cover all transaction fees (with bank wire transfer for amounts over 200 USD).
1. How can I view my trading history?
Open the terminal window by pressing Ctrl+T on your keyboard, and select the Account History tab. Right click to enable the context menu, which will allow you to save your trading history as an .html file so that you can later view it when you log out of the trading platform.
2. Can I use robot/auto traders or expert advisors?
Yes, you can. All our trading platforms support the use of EAs.
3. How do I add an expert advisor?
Save your expert advisor in the MetaTrader4 directory on your computer: C: Program Files – Meta Trader – PlussFx.com – experts. Then restart MetaTrader4. The expert advisor file should appear in the navigator window of MetaTrader4. Left click on it and drop-and-drag it onto the chart of the currency that you would like the expert advisor to trade on.
4. I can only see 8 pairs on my MT4. How can I see the rest?
Log in to your MT4 platform -> Market watch window -> right click -> Show all -> scroll down and you will be able to see all instruments available for trading.
5. Can I change the time zone in MetaTrader?
No, you can’t. The time zone of our trading servers is always GMT+2 winter time and GMT+3 summer time. GMT time setting avoids having small candlesticks on Sundays and therefore allows the running of technical analysis and back testing to go more smoothly and straightforward.
6. Do you offer trading platforms for MAC?
Yes, we do. The MT4 trading platform is also available for MAC, and it can be downloaded here.