Other Account Settings
During the application process, you’ll be asked to select a few other account settings, including account types and currency denomination for your account.
Depending on your country of residence, you may have more than one account denomination option. In general, we recommend setting your account denomination to the same currency that your bank is denominated in.
Traders new to forex are set up with introductory 50:1 leverage while developing your strategies and familiarizing yourself with the market. Experienced FX and CFD traders can choose to trade with up to 400:1 leverage on a Mini Account, or 100:1 leverage setting with Standard or Active trader accounts.
- What is the minimum to open an account?
FXCM offers three account service levels: Mini, Standard, and Active Trader. Your minimum initial deposit may vary based on the service level you select. To open a Mini account, the minimum initial deposit is $50. Increasing your initial deposit opens access to higher service levels that offer more features, products and services. Learn More.
- How do I know that my application has been received and my account is live?
Once you’ve completed the online application, our team begins processing your account. Some accounts are processed immediately, others may take a day or two, depending on the documents you may need to supply. Check your email for up-to-date information. You’ll receive your username and password (in separate emails for security). Use these to log in to MyFXCM to send your documents and to fund your account.
- Can I change my settings?
Yes. If you need to change any information regarding your account, or how your account functions, log in to MyFXCM to change your account information.
That's it! If you have any other questions, give us a call at +27 10 590 6301. Ready to open your account? Start your application now.