Frequently Asked Questions

Forex Basics
Trading
Account
Funding/Withdrawal
MetaTrader 4 / Mobile
Partnership Program
Contact

Forex Basics

Is Forex an expensive habit?

There are often no commissions and limited fees with Forex trading. This does not mean that it cannot be expensive. It is up to the investor how much money he or she is willing to invest in trading. If you feel that you are being pressured into investing more than you are comfortable with, it may be in your best interests to look into a new broker. If you feel that you are losing control of your habit and that it is becoming almost an addiction, you might want to look into counseling for gambling.

Is Forex trading lucrative?

There is always the potential to make a large amount of money on the Foreign Exchange Market. It can be very lucrative to those brokers who make it a point to follow their strategy, do their homework and research each move before making it. This is not an easy or surefire way to make money though, and there is the risk of losing big just as there is the potential to score big.

How can I manage my risks in the most efficient way?

There will always be risks when trading in the Foreign Exchange Market. The only way to prevent any loss is to not trade. When looking to limit the losses, it is important to begin by putting a stop loss on any account that is failing. It is also important to follow your strategy and know when to walk away. There are many articles that will help you to determine the best way to manage your risks efficiently.

What do terms like “Bid”, “Spread” and “Rollover” mean?

There are many different terms that are used in the Foreign Exchange Market. These terms have specific definitions and use. To find the right use and definition of a term used in the Forex, please Google for Forex Glossary online and you will have your answer.

How are the prices of the currencies determined?

There are many different factors that change the price of the currency. Political stability, economic stability, and ability, as well as the interest rates and inflation rates, are all different factors that can affect the Foreign Exchange Market. A country can change their own rate by buying out or selling some of their stocks in order to increase or decrease their standings. There is no single factor that can affect the currencies.

What is the best way to learn Forex?

It is essential that a person researches the Forex market before attempting to engage in trading. A great way to start is to read our articles section, gain some knowledge and start off. Another way out is to engage in a simulation program. This will allow you to practice different strategies without risking any of your money.

What Do I need to Start Forex Trading?

There are no licenses or other requirements to start trading. It is possible for someone to sign onto a Forex trading site and begin with nothing but luck and some money. However, it is advisable that a person starts out by learning as much as possible about Forex strategies, the factors that can change the Forex and the most important, a reliable broker. There is a lot to be gained from the Forex Exchange Market but there is also a lot that can be lost if a person attempts to trade while not being properly prepared.

How often are Forex trades made?

As there are no commissions that brokers charge when a new position is opened and since the trades are not made in a centralized location and are made between individuals, the exact numbers are impossible to determine. A recent survey put to Forex traders shows that each one of them usually changes positions around 10-20 times every day.

How long are Forex positions maintained?

This usually depends on the preferences and strategy of the traders. If we go by the statistics, more than 80% of the forex trades last within a week. And more than 40% last for up to two days only. Usually, positions are closed by the forex traders when they have their lucrative targets in relation to that trade. Stop Loss is initiated when a trader reaches the maximum loss he/she can afford. Or, they make available a new position if the trader is interested in the allocation of their funds.

How does Forex Trading compare to stocks or mutual funds?

There is a lot of similarity between stocks and forex. However, the only difference is that forex normally involves trading for a shorter term, in comparison to other markets. Forex traders often avert leaving their positions open even when they are not active in the market, which charges them a “Rollover Fee.” Also, the forex market is more vast than the stock market, so it becomes more difficult to master the trade in the latter.

Is Forex Trading risky?

All trading is risky. The risk is tempered by the amount of money that you invest into the exchange market. However, there are many techniques and tools that a person can use to limit the risk, but even the best-laid plans can cause significant risk and loss. A good way to experience the Foreign Exchange Market without the risk is to use a demo account for an extended period of time before dabbling in the real exchange market. This will allow you to see the risk without actually risking your money.

How does Forex Trading work?

Forex trading involves trading one currency against the other. An example of this would include a purchase of Canadian money using the American Dollar or using the Yen to purchase a Euro. The most often traded currency pairs are: EUR/JPY, CAD/USD, EUR/USD, USD/JPY, etc.

What is Forex Trading?

Forex is the foreign currency trading exchange market. It is also known as the FX and the Foreign Exchange Market. With more than three trillion dollars traded every day, this lucrative market trades the currencies of the world.

Trading

Do you have negative balance protection?

Question: Do you have negative balance protection? or my account will be in Minus and you will try to find a way to take more money from me?
Ans: Yes. IMMFX offers ‘Negative Balance Protiction’ for its traders. Therefore, all your minus balance will be carried by IMMFX and you will not charge for any negative balance.

What is your Execution Types?

IMMFX offers ‘Market Executions’ for its traders. 100% No Dealing Desk (NDD).  No re-quotes or delays. Straight Through Processing “STP”.

Stop loss on my Selling position has been Executed at Higher points than it appeared on chart. why?

High and Low are recorded from BID price on charts, your stop on selling positions will be executed at ASK price in addition to around + 12 points for the Micro account, +6 point for the Standard account and +3 points for the Pro account. However, there are higher points being recorded on many other pairs.

Please note that Spreads may vary depending on the account type whether it is a Micro, a Standard or a Pro as well as the currency pairs and existing market conditions. Since we’re N0-Dealing-Desk broker and our execution type is Straight Through Processing, for that reason, you may not see your stop level on the chart.

Stop loss on my Buy position has been Executed at lower points than it appeared on chart. why?

High and Low are recorded from BID price on charts, and your stop loss on Buying positions will be executed at bid price in addition to around -12 points for the Micro Account, -6 point for the Standard account and -3 points for the Pro Account. However, there are lower points being recorded on many other pairs.

Please note that Spreads may vary depending on the account type whether it is a Micro, a Standard or a Pro as well as the currency pairs and existing market conditions. Since we’re N0-Dealing-Desk broker and our execution type is Straight Through Processing, for that reason, you may not see your stop level on the chart.

When my position will be Stop-Out?

Below 30% margin percentage and larger losing-position will be Stop-Out first.

For Example, You’ve the following three positions:

xxxx: – 1000,
yyyy: -200, and
zzz: +25,

and if your account’s margin balance is below 30%, then the -1000 position will be closed first, then -200 and then +25 position.

Do I need to download any software before I start trading?

Yes you do:

MetaTrader 4: In order to trade using your Personal Computer or Laptop, you need to download powerful IMMFX MetaTrader 4 platform. Learn more about our MT4 Trading platform and Download your platform from HERE.

Mobile Trading: IMMFX makes available the popular Metatrader 4 trading platform for your Mobile devices. So you can stay easily connected and informed of the latest market movements.  Learn more about our Mobile Trading platform and Download your platform from HERE.

What spreads do you offer?

We offer variable spreads that start from 0.6 Pips. Please note that spreads depend on current market conditions and they may vary causing the spreads to be narrower or wider depending on market conditions and liquidity. Learn more about your Account type and Spread conditions HERE.

For how long can I use the Demo account?

Our Demo account has no expiry date. The IMMFX Demo Account has been designed to closely simulate a real trading environment based on actual market conditions. Our belief that the Demo trading environment must reflect the Live trading environment as closely as possible. Open your Demo account Now.

What are your trading hours?

The regular trading hours are 24 hours a day from 00:00 Monday to 23:55 Friday. Please note that Gold as a trading instrument has different trading hours, from 1:00 on Monday and closing at 23:50 on Friday.

What leverage do you offer?

We offer a flexible leverage of up to 1:500.

Do you close my open positions and placed orders if I go offline?

We do not interfere with your trades; your positions will not be lost if you go offline as trading continues uninterrupted on the IMMFX trading server.

I am a money manager managing more than 100 accounts trading the Forex & CFDs market. Does your trading platform supports multiple accounts?

Yes. In fact, our trading platform is designed for the use of professional money manager which supports multiple accounts with one login. You will see your accounts listed at the Window of the trading platform. You have to click on the particular account before placing a trade. You also can group the accounts together and place the trade with one click of the mouse.

Our MAM Trading platform is designed specifically for Money Managers that utilize the Metatrader 4 (MT4) platform. It is ideal for traders that manage multiple accounts utilizing Expert Advisors (EAs).

What is your platform time zone?

Our server timezone is subject to Daylight Savings Time (DST), which begins on the last Sunday of March and ends on the last Sunday of October.

Winter: GMT+2
Summer: GMT+3 (DST)

Our trading time is from 00:00 on Sunday until 00:00 GMT on Friday according to our server time.

Do you allow scalping and hedging?

Yes, we allow scalping and hedging. We allow hedging and it is margin-free. We only allow scalping for currency pairs and not on CFDs.

What is the maximum trade limit per one trade (long term) ?

As I understood you are asking about how long time we allow your position to stay opened.
We don’t have restrictions on that at the moment.

Do you have some partner companies who offer binary options trading?

No we don’t have any partner company which offer BO trading but we plan to add BO Trading to our services package in the near future soon.

Is your swap/roll-over free forex broker mainly for long term Forex hedge positions for muslims / non muslims?

we offer swap free accounts to both muslims and non muslims globally for active traders only. In that regard, IMMFX has terms and conditions on swap free accounts. IMMFX also, requires swap free traders to actively open and close trades.

***Part of our KYC (Know Your Client) procedural regulation; you must provide us with a valid telephone number,
in order to verify you are truly real person and you are not virtual.

***Please accept and understand that we are following the FSPC rules and regulations.

Do you offer one-click trading?

Yes, we allow one-click trading in our MetaTrader 4 platform.

Account

How do I open a live account?

All you need to open the account is to follow this link: Open Live Account.

How long does it take to open an account?

To register a new account takes 3 minutes maximum. After registration, you will receive an email with your login details.

Do I need to send any documents to support my account?

Yes you do. We need a copy of a valid passport or ID card as proof of identity with a recent photograph. Secondly, as proof of residence, we need a utility bill (gas, electricity, water etc.) not older than three months. You may also send a bank statement which states your address.

Can I trade without sending documents?

No you cannot. The account needs to be validated before you are able to trade.

Can I have a swap-free account?

Of course you can. IMMFX Offers Swap Free Accounts for both Muslims and non Muslims.

I have changed leverage from my account but the oil and dow still have the same leverage

Leverage on Currencies, Gold, Silver are changeable and you can request to change it from your IMMFX BackOffice. However, Oil, Gas and Stock Market Indices have fixed leverage that can’t be changed.

How do I change my leverage option?

All account information can be changed from Secure Members Area. In order to change your Leverage option, click on ‘My Accounts‘ from menu Tab. Select your preferred trading account (Hint: Click on account number). You need to click on ‘Edit’ under your leverage option.

I forgot my password, what do I do?

When you visit the Secure IMMFX Members Area click on ‘Forgot your password?’ button. Provide your registered email address that you used while opening your trading account with IMMFX and click on ‘RESET‘. You’ll receive a confirmation email, click on ‘Reset Password’ button from that email and you’ll be redirected to the page where you can set a new password for your account.

How can I change my password?

Go to the Secure IMMFX Members Area and log in using your credentials,  click on ‘Profile’ tab and select the option ‘Change Password‘ from your Personal Information section.

What is the minimum deposit?

There is a minimum of USD $500 to open a Standard Forex trading account. However, with a minimum deposit of USD $50 only, you can open a micro account with us and start trading right away. Learn more about IMMFX Trading Accounts.

Are there any service fees when funding the online forex trading account?

IMMFX DOES NOT charge any service fee when funding your forex trading account via bank wire transfer or credit card. The Bank might charge a very minimum (usually at fix USD $10) inward remittance fee for wire transfer depending on the source of fund.

How much is the minimum to open an online forex trading account?

There is a minimum of 500 USD to open a Standard Forex trading account. However, with a minimum deposit of 50 USD only, you can open a micro account with us and start trading right away.

Funding / Withdrawal

How to withdraw funds from my Trading Account?

To withdraw funds from your MetaTrader 4 account, please do the following:

  • 1. Login to your account at https://my.immfx.com
  • 2. Go to Transfers
  • 3. Go to Internal Transfer
  • 4. Select your Trading Account in “From Account”
  • 5. Select your Landing Account in “To Account”
  • 6. Enter the amount you want to transfer
  • 7. Click Submit

Once the Internal Transfer has been approved, you will see the funds credited to you Landing Account.

If you wish to withdraw the amount to your bank account, you can request a fund withdrawal from your Landing Account through Wire Transfer.

Note: You can only withdraw your initial investment back to your source method that you used in for its deposit. The profits earned shall be withdrawn via Wire Transfer.

How to fund my Trading Account?

To transfer funds from your Landing Account to your MetaTrader4 account, please do the following:

  1. Login to your account at https://my.immfx.com
  2. Go to Transfers
  3. Go to Internal Transfer
  4. Select your Landing Account in “From Account
  5. Select your Trading Account in “To Account
  6. Enter the amount you want to transfer
  7. Click Submit

Once the Internal Transfer has been approved, you will see the funds credited to your trader account in MetaTrader4.

Once the Internal Transfer has been approved, you will see the funds credited to your trader account in MetaTrader4 as your balance.

What is the maximum deposit when using a credit card?

PayPal credit card allows a maximum amount of 10,000 USD for verified PayPal members and 4,000 USD for non-verified  PayPal members.
UPayCard offers a maximum of 2,000 USD per transaction. Maximum of 10 transactions per day.

What payment processors do you offer for credit card deposits?

As of this period, IMMFX offers PayPal credit card payments and UPayCard payments to accept deposits and withdraw funds.

How to withdraw funds from my account?

Withdrawing funds from your IMMFX account is simple and swift. In accordance with internal and regulatory procedures IMMFX only uses safe and secure processes to withdraw your funds.

To execute a withdrawal from your IMMFX trading account, you must have uploaded supporting documents and verified your trading account.

Simply login to the Secure IMMFX ‘Trader Cabinet’ and click on Documents tab to upload your supporting documents (proof of your identity and address) and once your trading account is validated you will be able to withdraw funds direct from your trading account.

How to Perform a Withdrawal?
1. Log in to the Secure ‘Trader Cabinet’ and click on the Transfer tab from the Top Menu.
2. Select the option according to how you wish to make a withdrawal.
3. Click on Withdraw Funds from the right-side menu.
4. Select your trading account and your preferred Payment method.
5. Enter the amount you wish to withdraw and submit the request.
6. The requested amount will be automatically deducted from your trading account.

In order to protect all third parties against fraud and comply with FSPC and VFSC regulations, IMMFX will only process a withdrawal/refunds back to the source of the original deposit according to the below Withdrawal Priority Procedure:
1. The amount deposited can be withdrawn to the source account.
2. Trading profits shall be withdrawn to bank account via Wire Transfer.
3. To withdraw funds using Wire Transfer, please update your Funding Sources in your profile.

All withdrawal requests will be executed within 24 working hours; however, once the withdrawal request is submitted will be instantly reflected in the client’s trading account as pending withdrawals.

In case a client selects an incorrect withdrawal method, the clients’ request will be processed according to the Withdrawal Priority Procedure mentioned above.

All client withdrawal requests shall be processed in the same currency in which the deposit was originally made. If the deposit currency differs from the transfer currency, the transfer amount will be converted by IMMFX into the transfer currency at the current exchange rate.

Note: Withdrawals can be made by IMMFX account holders only – IMMFX doesn’t accept third party transfers.

How to deposit funds to my account?

Conditions:
IMMFX offers a variety of simple and safe methods for you to deposit fund to your trading account, such as bank wire, Credit/Debit Card, FasaPay, i-Account, MoneyGram, MoneyPolo, OKpay, PayCo, PayPal, Payza, Perfect Money, UnionPay, Western Union, UAE, and many others.

How to Deposit Funds?
1. Login to the Secure Members Area (https://my.immfx.com), select TRANSFERS tab from the Menu.
2. Navigate to the ‘Fund Account’ option from the right side menu.
3. Select the option according to how you wish to make a withdrawal.
4. Select your preferred Payment/deposit methods.
5. Select which account you want to deposit in.
6. Enter the amount you wish to deposit.
7. Write down any notes, if you have one (optional).
8. Press the submit button.
9. The requested amount will be automatically added to your trading account.

How should I withdraw my profit?

Trading profits shall be withdrawn to bank account via Wire Transfer.

Can I withdraw using any payment method?

Yes, but only the same amount deposited using the same payment method.
For instance, if the trader deposits $1000 through Credit Card, he can only withdraw up to $1000 to the same Credit Card. The profits gained through trading shall be withdrawn through Wire Transfer.

Can I withdraw my initial investment back to my card?

Yes and the rest if you were profitable will be sent to you by other payment methods of your choice preferred to your bank account.

Do you work with different e-wallets like PayPal, Skrill or webmoney?

Yes we offer PayPal and many others as payment processors but there is a limits also. We can send money to your bank account that you provide and third party payments are not acceptable. For more information, please check Funding pages.

What documents do you need to process withdrawals? Do you accept driving license as proof of ID? What details on ids should be visible?

We prefer passport as first option and driving license as proof of ID.
Clear photo, date of birth, date of issue, date of expiry, must be at least valid for 6 months and issuing authority along with issued ID number all must be viewed on the ID card.

Please note that in order to fully approve your account, you must upload your most recent updated KYC documents:
1. A valid scanned colored copy of your passport or any Government ID showing your full legal name, date of birth, date of issuance and expiry date.
2. A scanned colored copy of under three months old (POR) proof of residence; any of the following: Bank statements, utility, water, hydro, internet bill, rental agreement or telephone bill with full address shown.

All documents must be authenticated by your verified known local Apostle as well as by the ministry of foreign affairs of your country of residence.

Trader is automatically assigned to a Personal Account Manager; therefore, Trader must provide a real phone number in order to be contacted and be verified for authenticity by the dedicated Personal Manager.

Note all profits can only be withdrawn to your local bank account in your country of residence where your bank account must be holding the same POR address.

What bonuses do you have? Do you provide bonus automatically or I should request it? Can you add a bonus without my request? How can I remove bonus from my account? Can I withdraw money without any special conditions if I didn’t get a bonus?

We offer 20% of your each deposit as a bonus, you should request it and it will be cancelled as 20% of your withdrawn fund, you should read our bonus terms and conditions from time to time.

Do you hold client’s money on 30-60 days before first withdrawal?

No, we don’t have any restrictions on that as long as you are committed to our T&C.

MetaTrader 4 / Mobile

Does IMMFX MetaTrader 4 runs on Windows, Linux, and Mac OS, iPhone/iPad and Android OS?

Obviously our MetaTrader 4 platform works beautifully with Windows, Linux, and Mac OS, iPhone/iPad and Android operating system. If you are facing problem of launching the software, please un-install the current MetaTrader 4 and re-install it again. Shortcut will be added to the Desktop / home screen.

And, we also have different application for both iPhone and Android devices. If you still face any problem, feel free to contact our support team.

How to add an Expert Advisor or Script?

To add an Expert Advisor or Script, please do the following:

1. In your MetaTrader4 application, go to File.
2. Go to Open Data Folder and open MQL4 folder.
3. Open the Experts/Scripts folder and paste the script you will use.
4. On the Navigator section, press right click and select Refresh. Or you may simply close and restart your MetaTrader 4 application.
5. You will now see your script in the Navigation Section.
6. You can attach them to the chart and press Auto Trading button located at the top bar of the application.

Why do I get Off Quote error when placing my order?

Off Quote error in MetaTrader 4 appears when you try to set your order limits to a certain price but the price has already moved to a different value when you placed it.

For example, you want to buy a pair at 1.1000 but when you submitted your order to the market, the price became 1.1100. In this case, your order is rejected because there is too much difference with what you ask.

To avoid this issue, please make sure your trading limits are valid before you place your order.

Do you offer one-click trading?

Yes, we allow one-click trading in our MetaTrader 4 platform.

Where can I download the MetaTrader software?

To download the MetaTrader software, please click here and fill out the demo sign-up form. Once completed you will be prompted to download and install MetaTrader.

How do I insert chart indicators?

The steps are as follows:

1. On the top Menu bar, select INSERT > INDICATORS.
2. You can also navigate to the Navigator section and insert chart indicators from there.

How do I add my custom indicators onto my trading platform?

This file will have to be of the .mql format – meaning it has to end with .mql.

**For this example the indicator we want to add will be called test_indicator.mql.**

The steps are as follows:

1. Save this file to the following folder, using ‘Save As': C:Program FilesIMMFX-MetaTrader4expertsindicators

2. After saving, find the file test_indicator.mql in that folder. The symbol for a .mql file is a yellow diamond with an exclamation mark inside it.

3. Next restart MetaTrader and find the new indicator in MetaTrader’s Navigator to the left side, in the Custom Indicators folder.

4. To add the indicator to a chart, simply select a chart, then double-click on the indicator in the Custom Indicators folder, select any non-default values you would like to have modified, then select OK.

How do I display a bar chart?

On the top Menu bar, select CHARTS > BAR CHART or use the keyboard shortcut (Alt+1).

Does the MetaTrader platform facilitate mini lot (10K) trading?

Yes you can trade mini lots (10K) using the MetaTrader platform.

Here is the scale that we use for trading lot sizes on MetaTrader:

0.01 lots = 1,000 units of base currency (or dollars) Our “micro” lot size.

0.10 lots = 10,000 units of base currency (or dollars) Our “mini” lot size.

1.00 lots = 100,000 units of base currency (or dollars) Our “standard” lot size.

**Please note that trading in lot sizes that are not shown in the scale above is possible. An example would be an open a lot position of 0.60 (60,000 units), an 8.00 lot position (800,000 units), and even a 3.20 lot position (320,000 units).

**Also, note that other brokers may use a different scale to trade certain size lots. For instance, another broker may show 1.00 lots on a mini account is 10,000 units

How do I change the time period on the MetaTrader charts?

To add time periods to the main menu bar, select VIEW > TOOLBARS > PERIODICITY. (If needed) Use the following legend for applying time periods to charts:

M1 = 1 minute chart

M5 = 5 minute chart

M15 = 15 minute chart

M30 = 30 minute chart

H1 = 1 hour chart

H4 = 4 hour chart

D1 = daily chart

W1 = weekly chart

MN = monthly chart

How do I see all the currency pairs that IMMFX offers?

Within the Market Watch window, all of the currency pairs eligible to trade can be viewed by right-clicking within this section and selecting ‘Show All’. All currency pairs will appear thereafter

I’ve downloaded the MetaTrader platform. How do I log into my live account and start trading?

An email notification with a login name and password will be sent (i.e. Login: “60141” Password: “as4temp”). Download and install the platform. Open the login screen. Note that a screen may open that asks to open an account. “X” out of this screen.

  • To login, go to FILE > LOGIN and type your login and password.
  • The server field has a drop-down menu, select the following server: ‘IMMFX-MT4 Live Server’.
  • Listen for a DING sound (confirmation noise) and your account number will appear in the top left corner of the platform.

If you see prices moving in Market Watch and the correct balance in your Terminal section, you have successfully logged into your live account. If you are experiencing problems logging in, please contact us.

Partnership Program

How much is the Affiliate’s commission for each account type?

The Affiliate’s commission for each account type are as follows:

  • 0.5 pip per lot for Micro Accounts
  • 0.4 pip per lot for Standard Accounts
  • 0.3 pip per lot for Pro Accounts

Is there BackOffice or Member Area for my affiliate/partner account?

Yes, you’ll have your BackOffice / Member are for your affiliate/partner account. Trader account and partner account can be logged-in from this url: https://my.immfx.com/ and the IMMFX System will recognise if you are a trader or partner.

My clients can’t open an account through my affiliaite link

You need to set up your Fee Group and make at least one Fee Group as primary, for example, if you had set Fee group to Micro Account-IB as primary then your client will open micro account automatically.

If your primary Fee Group is Standard Account-IB then your client will open Standard account automatically. If your primary Fee Group is Pro Account-IB then your client will open Pro account automatically.

Of course your client can change their preferance account type by sending emails to support@immfx.com under the term and conditions of each selected account.

Do you provide Banners for affiliate marking?

Of course, we provide necessary marketing materials for our AB (Affiliate Brokers) partners. You can get necessary banners to promote IMMFX on your site from here: http://immfx.com/banners/

Where is my Affiliate link?

 

You’ll get the instructions on how to get your affiliate links at the time of registration. However, if you haven’t saved that link at the time of registration, you can simply request for your Partner-link from here: http://immfx.com/partners-link/

Contact

Where is your head office situated?

We are Saint Vincent regulated and registered financial company and our main office located in Suite 305 Griffith Corporate Centre, Beachmont, Kingstown, Saint Vincent. and we have an operation office in Istanbul Turkey. You can see the full details at our Contact Us page.