Frequently Asked Questions
Trading

1. What is the Forex market opening hours at the start of the week ?

The Forex market will open on Sunday 5pm New York time.

2. What is the Forex market closing hours at the end of the week ?

The Forex market will close on Friday 5pm New York time.

3. The candlestick has not reach my Stop Loss level, but my trade stopped out, why?

This scenario usually occurs in a Short trade. In a Short trade, you enter with the Bid price and close with the Ask price. However, candlestick represents Bid price only. When the candlestick (Bid price) moves near to your Stop Loss, the Ask price (which is higher than Bid price) would have hit your Stop Loss level, hence closing your trade.The other possibility is your account has hit the Stop Out limit.

4. The candlestick has touched my Take Profit level, but my trade is not exited, why?

This scenario usually occurs in a Short trade. In a Short trade, you enter with the Bid price and exit with the Ask price. However, candlestick represents Bid price only. When the candlestick (Bid price) touches your Take Profit, the Ask price would still be higher than your Take Profit level, hence your trade is not exited.

5. What is leverage?

Leverage is used to help traders maximise profits with lesser capital. Leverage determines how much margin is required for each trade.

Leverage Options Balance (USD or its equivalent)
1:10 - 1:100 Above USD 50,000
1:10 - 1:200 Up to USD 25,000
1:10 - 1:300 Up to USD 20,000
1:10 - 1:400 Up to USD 10,000
1:10 - 1:500 Up to USD 5,000

6. What is margin ?

Margin is a collateral required to take a trade. It is dependent on the leverage of the trading account.

Below shows the corresponding Margin for the respective Leverage:
Leverage Margin
1:50 2%
1:100 1%
1:200 0.5%


Examples:
To trade 1 standard lot (contract size of USD100,000) on an account with leverage of 1:100, the margin required is 1% of USD100,000 = USD1,000.

To trade 1 standard lot (contract size of USD100,000) on an account with leverage of 1:200, the margin required is 0.5% of USD100,000 = USD500.

7. What are the spreads offered?

Finzo Markets offers 2 different spread options: Variable and Fixed

8. What is a Variable Spread?

Variable spread varies with market conditions, it may widen or reduce depending on market volatility and liquidity provided by our liquidity providers. 9What is a Fixed Spread?

The spread is fixed 1 to 3 pips depends on the pair

10. Is the Stop Loss level guaranteed?

Under normal market conditions, your Stop Loss level will be respected. However, in the event of market/price gap (which may be a result of weekend gaps, news, events etc.), prices may not be available to exit your trade at the Stop Loss level. Our platform will exit your trade at the next best price available.

12. What is a Margin Call and Stop Out?

A Margin Call is triggered before a Stop Out. It occurs when there are insufficient funds in your trading account to open and/or sustain trades. This is also when your floating losses are greater than the minimum margin required/available.
A Stop Out occurs after a Margin Call. It is when all the trading positions reach the stop out level, and the floating trade with the highest volume would be closed forcefully at the current market prices to prevent any future losses.

14. When will the platform calculate the Swap/Rollover interest?

The calculation will occur at 00:00hrs Our server time, which corresponds to Gmt - 4.00

15. What is spread ?

Spread is the difference between the Bid price (Selling price) and the Ask price (Buying price).

16. What is the minimum trading lot size?

We allow a minimum of 0.10 standard lots on our platform.

17. Is there a minimum number of trades I need to take per month?

No, there is no such requirement.

18. What is the maximum lot size I can enter, assuming I have enough margin ?

The maximum lot size is 100 standard lots for currency, 50 standard lots for metals and 250 standard lots for other instruments.

19. How long can I hold my trades?

There is no time limit on how long you can hold your trades, as long as your trading account has sufficient funds and do not trigger Margin Call or Stop Out.

20. What should I do if I have a dispute with one (or more) of my trades ?

If you wish to make a formal dispute concerning your trade(s), please email us at support@finzomarkets.com. Please provide as much details as possible relating to your dispute, including your Full Name and account number. Our Support team would gladly assist you and ensure that your dispute is thoroughly investigated.

Accounts

1. How do I open a trading account?

To open a trading account, please click the account opening link and complete the online registration form.

2. What are the documents needed when I open a trading account ?

You are required to provide us with a copy of a Proof of Identity (POI) and a Proof of Residence (POR):

(a) Proof of Identity (POI). The document should show your photo, name and date of birth.

Please upload one:

(i) National Identification Card (front and back copy)
(ii) Driver’s License (front and back copy)
(iii) Passport
(iv) Other Identification Card issued by government/ known government agency/ body (front and back copy)

(b) Proof of Residence (POR). The document should show your name, address and date that is not older than 6 months from the date of application. Please upload one:

(i) Utility Bill
(ii) Bank Account Statement / Credit Card Statement from a recognised bank

PLEASE NOTE:
The documents must be clear and legible. Scan or capture the full document. Please do not crop.
The documents must be valid or recent (not older than 3 months) showing your full name, address, and document validity date. Regrettably, documents addressed to PO Box number are unacceptable for validation.

3. How long does it take to approve my account ?

Your account will be approved within 24 hours during weekdays, after you have submitted a valid copy of POI (Proof of Identity) and POR (Proof of Residence).

4. What are the different options available for deposit currency?

We have 3 deposit currencies for clients to choose.

1. USD – US Dollar
2. EUR – Euro
3. INR – Indian Rupee

5. Can I change the deposit currency of my trading account?

You cannot change the denomination of your account.

6. Can I change the leverage of my trading account ?

Yes. You can log in to Adbiter client area and submit a request,

7. What is the minimum funding amount?

100 USD

8. What are the trading commissions or fees charged?

There is a USD30 (or its equivalent) per standard lot commission charged for our variable spread.

Funding and withdrawal

1. How do I fund my trading account?

Log in to Tradersroom. Under “Deposit Money” and select your preferred method (Wire Transfer, Credit Card or Digital Wallet).

2. How long does it take to process funding via bank wire transfers?

Typically it takes 2-5 business days to process bank wire transfers.

3. How long does it take to process funding via Credit Card/Digital Wallet transfers?

Typically it takes about 1 business day or less to process Credit Card/Digital Wallet transfers.

4. What are the fees required for funding my account ?

For funding via Wire Transfer, Finzo Markets covers all bank processing charges. please ensure you indicate on the Wire Transfer form that all fees are borne by Beneficiary in order to enjoy this benefit.

For funding via Digital Wallet, Finzo Markets covers the processing fees from Digital Wallets to Finzo Markets. However, fees may be imposed by Digital Wallets when you fund your Digital Wallet account.

7. What are the different withdrawal options available ?

You may request for withdrawal of your deposit via Wire Transfer, Credit Card and Digital Wallet and Crypto Currency However, withdrawal must be performed only through the same bank account or credit/debit card or digital wallet that you used to deposit the funds. It is also worth noting that withdrawal of trading profits will be done via Wire Transfer and Digital Wallet, not Credit Card.

8. How long does it take to process my withdrawal ?

Finzo Markets processes your withdrawal request within 1 business day. However, it may take 24 -48 Hours for the funds to reach your account.

9. Are there any withdrawal fees/charges?

For withdrawal via Wire Transfer, prevailing bank charges by Beneficiary is applied. For withdrawal via Credit Card and Digital Wallet, We does not charge any processing fees. However, there may be handling charges imposed by the Digital Wallet or by the Issuing Bank of your credit card.

For withdrawals via Neteller and Skrill, there will be a 2.5% Administrative Fee charged upon withdrawal for clients from Bangladesh, Spain, Netherlands, India, Indonesia, Mexico, Nigeria, Pakistan, South Korea, Venezuala, Vietnam and Zimbabwe.

10. Are there any limitations on withdrawals ?

25 Usd is the minimum amount for withdrawal. However If you fund via credit card or Digital Wallet (Neteller, Skrill, etc), you can only withdraw your deposit after 30 days if there is no trading activity. This is to prevent churning.

11. Can IB transfer his/her rebates to other accounts ?

Yes, IB can make IB transfer to any other account instantly.

12. Can a trader transfer his deposit to other IB account?

No, this is only possible if the IB has transferred the fund to the trader previously.

Partnership

1. How can I become an IB ?

If you have a trading account with us, please log in to Affiliate page and login

2. What are the benefits of becoming an IB?

You will get instant rebates/commissions payout and a powerful back office with reports and analytics. To see more perks you will get as an IB, please click here.

3. What support do you provide to an IB ?

We have a team of dedicated Business Development Managers to work with you to grow your IB business. Finzo Markets has a full suite of business & marketing tools available to you at the click of a mouse.

4. How does Finzo Markets know a client is referred by an IB?

All IBs have their unique referral link. Accounts opened using these unique links will all be tracked to the respective IB.

5. How long does it take to approve my IB account ?

Your account will be approved within 24 hours during weekdays, after you have submitted a valid copy of documents required.

©2020 Finzo Markets