As well as looking over the Frequently Asked Questions, you may also refer to the Glossary for a description of terms or go to Technical Support for more specific technical questions. To see FXEM® trading features at a glance go to Trading Features. If you can’t find the answer to your question then please feel free to contact us.
Discover Forex trading in our Learn section. This is where you will find a series of articles that explain currency trading and the foreign exchange market.
Forex and ‘FX’ are shortened terms used for ‘foreign exchange’. Foreign exchange or ‘currency trading’ is the exchange of money from different countries. The value of one country’s currency is constantly changing against the value of another country’s currency. Forex traders make money through buying and selling currencies on the foreign exchange market.
A market conducted directly between dealers and principals via a telephone and computer network rather than a regulated exchange trading floor. OTC trading withForex Empire (EXEM)® means that you trade currencies with the aim to earn a profit, though you can lose as well. You don’t actually take delivery of these currencies.
Forex Instruments are the products or ways of trading in foreign exchange. Forex Empire (EXEM)® offers Day Trading and Limit Orders.
Yes, we advise all our clients that foreign exchange trading does involve substantial amount of risk. With FXEM® you cannot lose more than your ‘margin’, the money you are prepared to risk plus the daily rolling fee if you have entered a Day Trade transaction. However, risk only what you can afford.
Day Trading deals are usually opened and closed on the same day. It is possible for a day trading deal to last longer than one day. When this happens, the deal is automatically renewed at 22:00 GMT each night until the deal closes. Day trading is becoming more popular now that more people use the Internet. As long as the deal is open you will be charged a renewal fee every night at 22:00 GMT for all deals that are still open. If you have insufficient funds in your account your credit card may be charged or the deal closed – refer to the contract Terms and Conditions regarding this issue.
A forward deal is a contract where the buyer and seller agree to buy or sell an asset or currency at a spot rate for a specified date in the future (usually up to 60 days). Forward contracts are conducted as a way to cover (hedge) future movements in exchange rates. Margin spreads are higher than in Day Trading but no renewal fees are charged.
A limit order is where you nominate a rate at which you want to open a deal. When and if this rate occurs in the market, your ‘reserved’ deal is automatically opened. Once the deal is opened it is treated like a Day Trade with the details appearing in My Account. FXEM® does not charge for this service. This saves you watching the market every minute to see whether the rate you want happens.
International currency prices are highly volatile and very difficult to predict. Due to such volatility, there is no system that can assure you that transactions on the foreign currency market should result in great benefits to you, nor is it possible to guarantee that your transactions would yield favorable results.
FXEM® deals are dependent on the FX market, which is dynamic and changes all the time. The fluctuations in the market, in currency rates, and in other parameters, affect our fully automated pricing engine. This is why rates and premiums may change all the time.
FXEM® offers all major currency pairs for trading, including exotic currencies.
Yes, check that your broker is regulated in your region.
There are many online platforms available to trade with. Go to Trading Features to see what the FXEM® platform offers at glance. Some key points to look for in the platform you choose: – Level of personal service and support – live chat, messaging services personal training. – Trading tools offered including charts, outlooks, news, financial calendars – User friendly platform – can you do everything online or do you need to download software – How quickly can you can start trading – Easy deposit methods – e.g. e-wallets such as credit cards, Wire Transfers – 24 hour access to your account – Leverage offered – Tailor-made accounts and spreads – Real-time exchange rates – No hidden costs – commissions on deposits or withdrawals – No maintenance margins – Cost of renewal/rolling fees for Day Trades – Fixed rates and stop loss limits – Security and safety of the site and your information – A company that has a regulatory license for your region – Genuine company with real people in real offices around the world.
FXEM® has four account types with different margin levels and spreads involved. For frequent traders tailor-made accounts are also available. You can speak to your easy-forex® Account Service Manager to help you decide which account is best for you. Sharia (Islamic) Accounts are also available.
In the Trade section on the website you can deposit money with your credit card, or with Wire Transfer.
Yes, FXEM® offers trading accounts which adhere to the Islamic law (Sharia). With Islamic trading accounts, when traders extend their Day-Trading deals to the next day, no rolling fee is charged. Accordingly, the maximum duration offered for Day-Trading deals is limited (usually 1 week but it can also be shorter or longer depending on the currency pair traded). For more information please contact your Account Service Manager or your Personal Dealer.
You can access your FXEM® trading account from The CRM site. Just enter the same username and password as you always have.
We require a: – Proof of identity (such as passport or ID card) – Proof of address (such as utility bill or bank statement). Please note that the proof of address cannot be older than 6 months and must show your full name and residential address. Other documents, such as credit card statement may be required depending on your account activity.
You will find withdrawal forms in My Account in the CRM website. To withdraw money you must have supplied the required documentation. A withdrawal to a bank account where initial deposits have been performed by credit cards will be executed back to credit card or to bank account at company’s discretion and policies and with regard to Anti Money Laundering (AML) regulations.
The FXEM® online platform gives you 24 hour access to your account. Normal trading hours are 06:00 Monday Sydney time until 17:00 Friday New York time. Trading outside of these hours usually involves larger spreads
Duplicate e-mail confirmations cannot be issued. E-mail confirmations are generated only at the time of the deal. If you need to reconfirm your deal, please call our customer support center. You do not need the e-mail confirmation to manage your deal, so all you need to do is check your account and position. The e-mail is sent merely as a convenience for customers so that they have an additional record of their deal details. If you received a confirmation number on screen, your deal is confirmed. Failure to receive the confirmation e-mail has no bearing on the status of your account. Where mail cannot be delivered – due to an address that does not exist, or a recipient’s mailbox is full, or a recipient’s mail server is not accepting mail or is unreachable – delivery attempts cease. Confirmation letters are not sent by post for online deals.
Please send an e-mail to customer service at [email protected] with details of the problem. We endeavor to respond to such e-mails within 2 business days.
Yes. We use the internationally accepted security system SSL to encrypt all credit card payments over the web. This is automatic, and you will receive instant notification if your browser does not support this. To find out more go to ‘software security’.
No. The online deals section of our website connects directly to our central FX system, and shows the latest rates and premiums based on real time FX quotes.
FXEM® is tested using a range of browsers and operating systems. Some older browsers, however, do not support the full range of functions required. We recommend using Internet Explorer 6 or above. Upgrading to the latest browser can mean enhancing your surfing experience and improving your online security. For further Technical issues go to Technical Support.
To close your account, please email your Account Service Manager.
The cost of foreign exchange trading is determined by the difference between the buy rates and the sell rates of the currencies (‘the spread’). The spread is where market makers like FXEM® make their money. To see FXEM® spreads click here.
No, at FXEM® we are transparent with all our charges.
When you conduct a Day Trade and your deal remains opens after 22:00 GMT, you are charged a small renewal fee. This charge is taken from the free balance in your trading account or if funds are insufficient it is debited directly from the credit card you have provided. If your credit card lacks sufficient funds the deal is automatically closed.
FXEM® does not charge a maintenance margin.
FXEM® offers a number of tools that may help you in your trading: – Live one-on-one training – Webinars on trading strategy – Live Chat – Daily and Weekly Outlooks, also archives of previous outlooks – Live News and Videos center – The Financial calendar has the dates and times of economic indicators. Here you will also find a description of these indicators Multiple charts and ways of viewing them are available to assist with technical analysis.
Email your account service manager to arrange a special course.
A fractional pip is a tenth of a pip. This feature allows traders to benefit from smaller price increments and moves in the market. For example, instead of quoting prices with 4 digits i.e. EURUSD @ 1.4251 / 1.4253 easy-forex can quote the pair as 1.42508 / 1.42528 with the last digit quoted as a subscript. The Pip value for a EURUSD 100,000 position is $10 and the value of a fractional pip for a EURUSD 100,000 EURUSD position is $1.