Name of the Organization : Forex Capital Markets
Type of Facility : Open an FXCM Mini Account
Head Office : Johannesburg
FXCM Open an Mini Account
Step 1 :
** Review our account types, then complete the form on the right.
Mini : For Smaller Accounts
Related : Forex Trading Contest : www.southafricain.com/3385.html
** $50 min ( approx. R 699 )* up to 400:1 on FX up to 200:1 on CFDs 21 Forex Pairs 18 CFD instruments Dealing Desk Spreads Only
Standard : Most Popular
** $2,000 min ( approx. R 27952 )* 100:1 on FX up to 200:1 on CFDs 39 Forex Pairs 18 CFD instruments No Dealing Desk Spread + Commission
Active Trader : Elite Pricing
** $25,000 min ( approx. R 349403 )* 100:1 on FX up to 200:1 on CFDs 39 Forex Pairs 18 CFDs instruments No Dealing Desk Spread + Reduced Comm
** Please note that the conversions in South African Rand are an approximation.
** They are used for illustrative purposes only and they do not constitute the rate at which funds will be converted when funding an FXCM account.
Compare Account Types
** The Mini Account is ideal for new traders with trading costs all within the spread.
** The Standard Account offers Low Commission pricing similar to stocks.
** Reduced commissions are available to high-volume traders.
Step 2 :
** You will then be directed to a secure website. Fill out the application.
** FXCM Account Application
Step 3 :
** You will be provided with a username and password upon completeing the application.
** Log in to the myfxcm client portal, deposit funds, and start trading.
** Typically you will need to submit a certified copy of your ID and a certified Proof of Residence (such as a bank statement stamped by your bank) issued within the last six months. Learn More
** FXCM LTD will only conduct business with a client for whom it considers such business to be appropriate and in assessing appropriateness, will rely on the information provided by the client in his/her/their application form.
** For this reason, it is essential that you immediately advise us in writing if there is subsequently an adverse change in the information you have provided.
** This product summary should be read in conjunction with our Terms of Business.
** While every effort has been made to ensure the accuracy of this guide, this information is subject to change, often without notice, and therefore is for guidance only.
** If you ever have any questions please contact FXCM directly.
Mini Accounts :
** Mini accounts offer 18 CFD instruments and 21 currency pairs, and 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 with equity less than 10,000 CCY have 400:1 forex leverage; between 10,000 and 20,000, have 200:1. Mini accounts with equity greater than 20,000 will be switched to a Standard account with 100:1 leverage, No Dealing Desk execution, and low spreads + commissions. See Execution Risks.
** When executing customers’ trades, FXCM can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover. Under the Dealing Desk execution model, FXCM may act as a dealer and may receive additional compensation from trading.