Mini Account Transfer Form
By completing the following form, you are requesting Forex Capital Markets, Limited (“FXCM LTD”) to change your pricing and execution for one or all of your FXCM accounts from a Standard Account to a Mini Account setting.
Mini Accounts: Mini accounts offer 18 CFD instruments and up to 21 currency pairs. FXCM may decide at its sole discretion to add or remove any CFD instruments and currency pairs. Mini accounts default to Dealing Desk execution where price arbitrage strategies are prohibited. FXCM determines, at its sole discretion, what encompasses a price arbitrage strategy. Mini accounts utilising prohibited strategies may be switched to No Dealing Desk execution. Mini accounts settings may also be switched to No Dealing Desk execution at the sole discretion of FXCM in some instances. Mini accounts offer spreads plus mark-up pricing. Spreads are variable and are subject to delay. Experienced traders on Mini accounts with equity less than 10,000 CCY have 400:1 forex leverage; between 10,000 and 20,000, have 200:1. Traders that are new to FX and CFD trading will be defaulted to 50:1 leverage. Depending on the experience of the trader, Mini accounts with equity greater than 20,000 CCY may be switched to a Standard account with 50:1 or 100:1 forex leverage, No Dealing Desk execution, and commission based pricing.
Execution Disclaimer: FXCM aggregates bid and ask prices from a pool of liquidity providers and is the final counterparty when trading forex on FXCM's dealing desk and No Dealing Desk (NDD) execution models. With NDD, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. In addition to the spread, the trading cost with NDD is a fixed lot-based commission at the open and close of the trade. While generally NDD accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. This may occur due to, but not limited to, account type, such as accounts opened through a referring agent. With dealing desk execution, FXCM can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer. FXCM’s dealing desk has fewer liquidity providers than NDD. There are many other factors to consider when choosing an execution model (such as conflict of interest, trading style or strategy). See Execution Risks. Note: Contractual relationships with liquidity providers are consolidated through the FXCM Group, which, in turn, provides technology and pricing to the group affiliate entities.
Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.
Please take care when completing this form and ensure that you understand the terms of your request before you click submit. Feel free to contact client services should you have any questions, comments or concerns regarding your request.
Please note your account must be flat for at least 24 hours at the time of processing.