Frequently Asked Question
What is the minimum amount to open a live account?
The minimum amount to open an Account is US $300, including any fees required for fund deposit.
What do I need as identification documents?
Any official piece of identification with photo and signature, such as a Passport , Identification Card or Driver License, is acceptable.
Any personal information, Photo, Signature, Issue Date, and Expiry Date, Serial Number, must be clearly legible.
How can I open a real (live) account?
You need to fill out your personal information, as required by the regulatory authority, on application form and upload your ID (with your Photo) and Bill copy on IC-FX Home Page (http://IC-FX.com/live_account).
When can I start a live trading?
You can start a live trading upon deposit of funds after opening a live account and trading may be available within an hour.
Different deposit methods may take more/less time for a live trading.
Please refer to the Deposit Time in http://IC-FX.com/deposit to see how long it will take for live trading.
Which document do I need as a Residential Proof?
Residential Proof may include a Bill of Power, Water or Local Tax Bill, recent Bank Statements, Credit Card, or an Extract Copy of Residence (issued by official Residence Center). You can choose any of the above documents.
Why does IC-FX ask for your information on investment knowledge and experience?
It is required by the regulatory authorities to check and see whether a FX/CFD Trading may or may not be suitable for customer’s Asset Portfolio.
Do you charge any fee or commission when opening an account with IC-FX?
There are no fees or costs required to open an account.
IC-FX homepage provides online signing process for our customers to make it easy to open and trade.
Is it possible to open an account in the name of Business Entity?
You can open a Corporate Account ; you have to fill out the Application of Business account and upload the Business Certificate and Address Proof (Bill copy) with billing date of latest 3 months.
Deposit and Withdrawal
How long will it take to withdraw the fund?
IC-FX handles all transactions in the same day the requests are received, however transaction time also depends on withdrawal method you choose. Below is the list of withdrawal methods and the time;
– Bank Wire: within 2 Business days
– VISA / MASTER Card: before settlement date, transaction will be credited within 20 business days.
If it’s after the settlement date, you need to request the withdrawal using another method such as bank wire.
– Neteller: within an hour
How can I withdraw the fund?
You can visit following link and select proper withdrawal method.
http://IC-FX.com/withdrawal then fill out the application for withdrawal.
Our on-line request forms make it easy and convenient for any types of withdrawal.
What are the Currency Denominations available to deposit?
You can deposit in USD, EUR, JPY, CHF.
In case of e-wallets, we support 27 currencies.
How long will it take the fund to be deposited and credited?
It differs by various deposit methods, please refer to the following link for more information.
How can I deposit funds in my MT4 Live Account?
IC-FX supports various methods to deposit funds including bank wire, VISA / MASTER cards, Paypal, WebMoney, Neteller, and over 20 e-wallets.
Please refer to http://IC-FX.com/deposit for the details.
Documents and Forms
What information must be shown on Passport or Government issued Identification?
There should show the legal name, Date of Birth (D.O.B), and Expiry Date; the name on the ID must match the holder of IC-FX account.
How can I submit my document to IC-FX?
You can upload your documents (ID, Residential Proof) online while you apply for a live account.
What is IB Agreement?
IB Agreement is the agreement between IC-FX and Introducing Broker. It covers the various business topics including partnership.
IB needs to sign the signature page and send scanned copies to IC-FX.
Why do I need to submit documents?
The documents are required by the Regulatory Authorities to protect the interest of our clients.
In case where ID and Residential Proof are insufficient or do not meet the requirements, additional documents can be required for qualifications.
Is it okay to submit the documents not written in English?
IC-FX has employees who can translate the documents in various languages.
The documents do not need to be strictly written in English as long as they satisfy the requirements including issue date and terms.
I don’t accept any mail to my residence. Can I use mail Box address as a residential Proof?
IC-FX does not accept the PO Box address as a residential proof; you should submit the proof or document with your real Residence address.
Can I use the Business address instead of residential address?
You should submit the document with your current residential address on it; the Residential Address on the document should be same as the residential address specified on the Application and Customer Agreement with IC-FX.
What should be described on the statement of Credit or Check Card.
It should include the date within the last 3 months, and the name of card holder should be same as the name of live trading account with the residential address.
PO Box address is not acceptable.
If the driver license shows the residential address, can I submit only one of the two documents?
IC-FX requires two types of documents.
If you used Driver License as a residential proof, then you need to submit another Government-issued ID as an Identification proof.
In case of Corporate account, what should I submit as a ID and residential proof?
For your Corporate accounts, you have to submit Corporate Certificate and the proof of Business address.
You can use a Corporate Certificate and proof of Business address billed to within latest 3 months.
Can I use Expert Advisors?
As IC-FX provides the optimal environment for EA programs, you can use EA freely.
What is Freeze Level?
A Freeze Level is the point if the market price meets the level set by the trader, no changes can be made to the order. Freeze Level is not supported at IC-FX.
What is a Trailing Stop?
Trailing stops automatically adjust to the current market price, providing the investor with greater flexibility to profit, or limit a loss. For example, if we set our trailing stop initially at -10 pips and then the trade moves in our favor 1 pip. Our stop would move 1 pip from -10 pips to -9 pips.
What is the Balance and Equity?
Balance is the account balance calculated with all closed positions.
It does not include the floating loss or profit.
Equity is the floating balance including the current floating loss or profit.
Equity changes in response to the market price of the open positions.
What’s Margin Call Level and Stop Out Level?
Margin Call Level is to be 50%, Stop Out Level is to be 30%.
Are hedging orders available?
Yes, it’s available at IC-FX. Hedging is when you open the opposite positions with the same lots. In such case, there will be no margin used. But you need to be careful as there may be unexpected losses due to decrease In Equity resulting from floating spread.
What happens when Margin Call Level and Stop Out Level are met?
When the ratio of Margin to Equity comes below the Margin Call Level, there will be warning red sign on the Trading terminal. When the ratio of Margin to Equity comes below the Stop Out Level, there will be compulsory closures of open position, starting from the position with biggest losses, just like stop loss execution.
What are the trading hours?
Trading hours are from Sunday 17:05 to Friday 17:00 EST(New York Time), 24 hours a day and five days a week.
What is Margin?
Margin is a deposit (as a collateral) made to open a position, selling or buying, and maintain the opened position.
Margin is not a fee or transaction cost: it is a part of account balance.
However, you need to be using your margin carefully as it may increase profit potential just as much as it may cause risk of loss.
How do you calculate Margin Ratio using Balance and Equity?
Margin ratio is the Equity over Margin Requirements
Is there any case that the pending order is automatically cancelled?
In general, the pending order is not cancelled unless the trader cancels the order. Only when a stop-out and the pending order is to be used over and above the free margin ratio, however, the order may be cancelled.
What is Expert Adviser?
Expert Advisor is an Automatic Trading program supported in Meta Trader 4 written in C language. EA allows automatic trading without the manual order entering.
What’s the maximum leverage?
IC-FX offers the leverage of maximum 500 : 1 (ECN Account ; 200 :1) .
However you need to remember that using high leverage amplifies the effects of market movements on your capital.
While using higher leverage can increase your potential profits, it will equally significantly increase your potential losses.