FAQ

About ForexCT

Who is ForexCT?

Established in 2006, ForexCT offers an online platform for foreign exchange and CFD trading. Our goal is to become the preferred online trading provider of choice among new and professional forex traders around the world. We are focused on providing traders around the world with a secure and robust forex trading platform as well as exceeding the industry standard for customer service and regulatory compliance. In less than a decade, ForexCT has become one of Australia’s leading Margin FX providers.

Where is ForexCT based?

Forex Capital Trading Pty Ltd (‘ForexCT’) is an Australian-based company. Our head office is in Melbourne.

Is ForexCT regulated?

Yes. ForexCT is regulated by the Australian Securities & Investments Commission (AFSL 306400). For more information, please read our Product Disclosure Statement

What services does ForexCT provide?

ForexCT provides its clients with a Margin FX and CFD trading service as well as a range of education solutions. Using our online trading platforms, you can start trading in less than 5 minutes.

Is my money safe with you? Where is my money held?

In accordance with Australian Client Money Rules, all client money is held in segregated client trust accounts with the National Australia Bank.

Do you use my money for hedging or any other purpose?

No. ForexCT does not use client money for any purpose, including meeting obligations incurred by us when hedging with other counterparties. If you wish to learn more about how we handle client money, please refer to our Product Disclosure Statement

If I trade with ForexCT, will I receive a dedicated Account Manager?

Yes. Our team of Account Managers are committed to providing you with the highest level of customer service. We regularly call our clients to discuss potential trading opportunities, their trading experiences or just to lend a helping hand. We understand that you have choices when it comes to online trading and we value your business.

What are your trading platform hours?

Our trading platform is accessible 24 hours a day, 7 days a week. To view the trading hours for all our instruments and other important information, please refer to our Product Sheet

Do you offer 24-hour customer support?

Yes. Our online Live Chat customer support representatives are available through our website and trading platforms 24 hours a day, Monday to Saturday. If you wish to speak to a customer support representative, then please call our office on 1800 367 392 (international). Phone support is available 9:00 am – 7:30 pm AEST, Monday to Friday.

Opening Account and Funding Information

How do I get started?

Opening an account is quick and easy. Please click here to complete our online registration. Once you have successfully registered, you can instantly begin trading.

Is it free to open an account?

Yes. You are under no obligation to fund your account. However, if you wish to start trading, you will be required to deposit funds. Click here if you wish to learn about our deposit options.

What documentation do I need to provide for opening an account?

In most cases, no supporting documentation is required, as the online registration process attempts to verify your identity electronically. However, if the system is unable to verify your identity electronically, then we may require further supporting documentation from you. If this is necessary, we will inform you at the end of the online registration process and send you an email with further information.

Where do I send supporting documentation?

You can email supporting documentation to accounts@forexct.com, fax to 1800 068 022 or Post to PO Box 7509, St Kilda Road, Melbourne VIC 3004. .

How soon can I start trading?

If you successfully complete our registration process and we are able to verify your identity, then you can start trading in minutes.

Which account funding options do you offer?

ForexCT offers a number of different funding options. These include credit/debit card, bank transfer (EFT), BPAY and international telegraphic transfer (TT). For more information, please see our Payment Options page.

Which credit/debit cards do you accept?

ForexCT accepts payments from Visa, MasterCard, American Express and JCB credit/debit cards.

How do I deposit via bank transfers (EFT)?

Bank transfer deposits should be made to the following accounts: For AUD Payments
Beneficiary: Forex Capital Trading Pty Ltd – Client Trust Account
BSB: 083 155
Bank Account Number: 87-328-8314
For USD Payments
Beneficiary: Forex Capital Trading Pty Ltd – Client Trust Account
SWIFT: NATAAU3303M
Bank Account Number: REFOXUSD01

How do I deposit via BPAY?
BPAY deposits can be done following these steps:
  1. Log into your internet banking service.
  2. Select the BPAY option. You will then be prompted to select the following:
    • The bank account you wish to make payment from
    • ForexCT biller code
    • Customer Reference Number (CRN)
    • Amount (in AUD)
    • Payment date
  3. You will receive a confirmation number. Please keep this number for future reference.

Note: The above steps can also be completed by calling your bank directly. Your CRN can be found in the deposit section of the PROfit platform or on our deposit site.

How long does it take for the funds to clear into my trading account?

Credit/debit card deposits appear instantly in your trading account. Bank transfers and BPAY payments typically take 1-2 business days to clear.

Does ForexCT charge any deposit or withdrawal fees?

No. ForexCT does not charge any deposit or withdrawal fees. However, please keep in mind that some banks might charge transaction fees. ForexCT does not cover these fees.

Do you accept third party payments?

No. ForexCT does not accept third party payments.

What is the minimum I can deposit?

ForexCT allows a minimum deposit of $500 AUD to establish a new account.

How do I withdraw funds from my trading account?

You can withdraw funds directly from the PROfit platform. Once logged in, click the “More” icon, select “Withdraw”, and input the necessary withdrawal information. If you trade on MT4, simply log on to the withdrawal page and submit your withdrawal.

How long does it take for withdrawals to be processed?

Withdrawals are generally processed within 1 to 2 business days.

Can I request ForexCT to make payment to a third party bank account?

No. ForexCT does not make third party payments. Funds requested for withdrawal will only be paid back to a bank account in the same name as the Account held with us. We will normally remit money in the same method and to the same place from which it was received.

As a resident outside Australia, can I apply for a trading account?

If you reside outside Australia, then you should register via www.forexct.com.

Who can assist me with questions about opening my account/deposits/or withdrawals?

Your Account Manager is the most appropriate point of contact for questions you may have. To speak to your Account Manager, please call 1800 367 392 between 9:00 AM – 7:30 PM AEST, Monday to Friday. Alternatively, if outside office hours, please feel free to chat online with our Live Chat customer support representatives or email accounts@forexct.com and we will respond to your query on the next business day.

Trading Platforms

Which platforms can I trade on?
ForexCT offers a number of different trading platforms:

  1. WebPROfit: WebPROfit is ideal for Apple Mac traders or traders who do not want to download additional software. 
  2. Mobile PROfit: Stay connected to the market no matter where you are. Our PROfit iPhone, iPad and Android application is fully synchronised with our PC-based platforms so you can trade and manage your account, anywhere, anytime.
  3. MetaTrader 4 (MT4): MT4 is the most popular Forex trading platform in the world because of its easy-to-use interface, insightful charts and technical analysis tools.
  4. Mirror Trader: Tradency’s web-based Mirror Trader platform allows you to automatically mirror and learn the trading strategies of top forex and CFD traders from around the world.
    To learn more about our trading platforms or check out our platform tutorials/user guides, please visit the Trading Platforms page.
Can I trade using my Apple Mac?

Yes. In order to trade using a non-Windows OS, you will need to use our WebPROfit trading platform.

What are the minimum system requirements for using MT4?

Operating systems: Windows XP SP3/Vista/7/8
Processor: 1.5 GHZ
Ram: 1 GB
Screen Resolution: 1024x768
Broadband internet connection

Can I practice on a demo account?

Yes. Our demo accounts allow you to trade in a simulated environment with $100,000 virtual cash. It is a fantastic opportunity to become comfortable on our platforms before you start trading in a live environment. Register today for your funded demo account.

Forex & CFD Trading

What is Forex? What is Margin FX?

Foreign exchange, also known as ‘Forex’ or ‘FX’ is the largest and most liquid market in the world. Forex trading allows you to buy and sell one country’s currency against another. The daily turnover or volume in the Forex market has hit nearly $5 trillion in recent years.
A Margin FX contract is an agreement to exchange the difference in the value of an underlying instrument (i.e. a spot currency pair) between the time the Margin FX contract is opened and the time it is closed. It is an over the counter (OTC) product, meaning that it is neither traded nor listed on an exchange. It is a private contract between ForexCT and the trader.
If you wish to learn more about Forex trading, then please visit our Education page.

What are CFDs?

CFD stands for ‘Contract For Difference’. A CFD is an agreement to exchange the difference in value of a particular underlying instrument between the time the CFD is opened and the time it is closed. We also offer OTC CFDs, meaning that these CFDs are neither traded nor listed on an exchange and exist as a private contract between ForexCT and the trader.

What type of products can be traded on ForexCT’s platforms?
We offer the following types of products:
  • Margin FX
  • Spot metal CFDs
  • Index CFDs (futures)
  • Commodity CFDs (futures)

For a full list of all the instruments we offer, please refer to our  Product Sheet.

What is a spread?

The spread is the difference between the bid (selling) and ask (buying) price. For example, if the AUD/USD were quoted on our platform as trading at 1.0510/1.0512, then the spread is 2 pips.

What is a pip?

Pip stands for ‘Percentage in Point’. A pip is the smallest value of measurement for Forex currency pairs.

What is leverage trading?

Leverage allows forex and CFD traders to open large positions with a relatively small amount of collateral. In other words, traders only need to deposit a small percentage of the notional value of a transaction. Leverage magnifies your exposure to the movement in the price of the underlying instrument. This means that your potential gains or losses from trading the products will be much higher than would be the case if you did not use leverage.

What size leverage do you offer?

ForexCT offers leverage of 200:1 for our Beginner accounts and up to 400:1 for our Professional and VIP accounts.

How much margin do I need to open a trade?

Before you open a trade, you are required to have a certain amount of available margin in your account. The amount of margin or cash needed to open a trade depends on a number of factors such as the size of the trade, your leverage and the instrument.

Can I lose more than my cash balance?

No. ForexCT offers negative balance protection. This means that your cash balance will never go negative.

Do you have forced margin calls?

No. We do not force clients to deposit funds into their trading accounts. It is your decision if wish to deposit additional funds to maintain your positions. You can view a detailed description of our margin policy and margin requirements in our Product Disclosure Statement

What is the swap or rollover interest that I earn or pay if I hold a position overnight?

Our current rollover rates can be found on the trading platform and on our  Product Sheet.

What type of orders can I place?
Both PROfit and MT4 offer a variety of different orders. Below is a brief description of each:
  1. Market order: An order to buy or sell in order to open or close a transaction at the market rate.
  2. Entry order: An order to buy or sell in order to open a transaction at a specified price outside of the market rate.
  3. Stop loss order: An order to buy or sell in order to close a transaction at a specified price that is less advantageous than the market rate.
  4. Take profit order: An order to buy or sell in order to close a transaction at a specified price that is more advantageous than the market rate.
  5. One Cancels the Other (‘OCO’) Order: Two Entry Orders linked together so that when one Entry Order is executed, the other Entry Order is automatically cancelled.
Do you offer free guaranteed stop losses?

Yes. Regardless of currency volatility or market gapping, we always guarantee stop losses on every single forex trade. We believe in smart risk management and improved trading certainty. That’s why ForexCT never charges for guaranteed stop losses.

How important are stop loss orders?

It is important that you consider using a stop loss order when opening a trade. Stop loss orders are a risk management tool that you can use to close a trade once the market reaches your specified stop loss rate or amount. For example, you may wish to enter a stop loss order to close your trade when it reaches a $50 loss. This means that if the loss for that trade reaches $50, the trade will automatically close out.

Are there minimum distance requirements for stop losses and take profits?

Yes. The minimum distance requirement will differ depending on the instrument. The platform specifies the minimum required distance.

Can I hedge on your platform?

Yes. Our platform allows you to place hedged trades.

Do you offer fixed spreads?

Yes. When we say ‘fixed spreads’, we mean it. Unlike our competitors, we guarantee that our spreads will not vary, even if market fundamentals change or economic conditions fluctuate.

Education

What education solutions do you offer?

We believe that even the most experienced trader still has more to learn. ForexCT offers various education solutions for all levels, including seminars, webinars, workshops, eBooks, video tutorials, and one-on-one-sessions with our in-house professionals. If you wish to learn more about these then please view our Education page or contact your Account Manager directly on 1800 367 392.

How do I start receiving daily market reports?

ForexCT sends out daily in-house market reports as well as reports from Trading Central. If you want to start receiving these, please click here for further information, or contact us directly on 1800 367 392.

How can I sign up for a seminar, webinar or workshop?

Please click here to find out about our upcoming events.

Is ForexCT’s education free?

Yes. We do not charge our clients for educational resources. If you are interested in learning more about Forex and CFD trading, then please contact one of our Account Managers on 1800 367 392.

Support

Who do I contact if I have a technical issue?

You have several options. Between 9:00 AM – 7:30 PM AEST, please call our Technical Department on 1800 367 392. Outside these hours, please contact us via our online Live Chat support service on our website. Alternatively, you can always email support@forexct.com if you have any issues.

I don’t remember my username or password – where can I retrieve this?

Check your inbox and junk mail folder for the welcome email that was sent to you when you registered for your trading account. If you cannot locate this email, navigate to the ForexCT launcher and click “Forgot password?”. Enter the email you used to register your account and click “OK”. An email will be sent to you with your password. Please note that when logging into through the ForexCT launcher, your username will always be the email address you used to register your account.

How do I change my password?

You can change your password by clicking on “Change password” in the ForexCT launcher. Enter your email address, old password, new password, and click “OK”. Your password must contain 8-12 characters and at least 1 letter and 1 digit.