FAQ

How long does it take to open a live account?

Trading accounts can take up to 24hrs to be approved, you can check the status of your account via My fxfellow portal under ‘My Account’.

We require a recent utility bill (Water/Electricity bill) or a recent bank statement dated within the last six months. Please note that online statements/mobile phone bills are not accepted.

Internal transfers can be made from one of your current accounts to another, this can be done via the client portal. Click on ‘My Account’ then ‘Internal Transfers’. Choose the respective accounts and the amounts, then Submit. Please note that the balance has to match on the ‘From’ account.

You are able to change the leverage on your account via the My fxfellow portal by clicking on ‘Actions’ next to the account you wish to amend. This can be found by clicking on the ‘Overview’ tab under My Account. In order for the leverage to be changed, the account should not have any open positions.

Based on the device you are using PC/mobile you should choose the right platform for you by visiting our website, Platforms section. The trading platforms can be downloaded via our websites.

You can open an additional account via the Client Portal. Click on ‘My Account’, then ‘Register Additional Account’. Now you can choose the Account type, Currency Base and Leverage.

Internal transfers can be made from one of your current accounts to another, this can be done via the client portal. Click on ‘My Account’ then ‘Internal Transfers’. Choose the respective accounts and the amounts, then Submit. Please note that the balance has to match on the ‘From’ account.

FXFellow maintains isolated client accounts to ensure that client funds are fully segregated from FXFellow’ own funds at all times. All client funds deposited at FXFellow are completely separated following our strict policies and procedures.

How do I deposit funds into my trading account?

Deposits can be made via the client portal. Methods can be chosen by clicking on the ‘Deposit Funds’ tab. Please note that deposits can take up to 24hrs to be processed depending on the method used. Bank Wire transfers can take up to 3 working days depending on the bank.

You are able to withdraw funds if you have open positions on your platform. Please note that your free margin must exceed the amount specified in the withdrawal instruction, including all payment charges. You will not be able to make a request if you have insufficient funds.

Unlike 20 years ago, trading currencies no longer costs a ton of money. Nowadays, when compared to trading stocks, options or futures, trading forex requires the minimum investment. fxfellow offers trading accounts with a minimum deposit as low as $100.

The extra amount that was removed from your MT4 account is part of the bonus you have received when you deposited. Whenever you make a withdrawal, a proportion of the welcome bonus is removed relative to the amount you deposited and requested withdrawal.

Profits made from trading can be withdrawn only via bank wire. You can receive your initial deposit via the payment method initially used and then all excess funds (profits) will be sent to your bank account. In order for the above to take effect, you need to apply for a bank withdrawal from your client portal.

What happens if my account goes negative?

The company offers a Negative Balance Protection, meaning that all negative balances are covered by the company.

The trading hours are 24 hours per day, starting at 00:00 Monday and closing at 24:00 Friday server time. Server time is GMT + 2 (GMT + 3 applies during daylight saving/summer time).

The charts show the Bid price by default. A Buy position is opened with the Ask price and closed with the Bid price. You have to add the spread on the Bid price to find the Ask price. Therefore the difference in price is due to the spread.

This can happen when you have given your trading platform an additional instruction before it has completed an earlier task. This can happen in cases where there have been multiple mouse clicks or a hyperactive Expert Advisor.

When there is a high volatility in the market, prices are rapidly changing. Under this scenario, we need to offer you the new latest market price. In such an event, you can either accept the new re-quoting or just reject the new price and cancel the execution of the transaction. Another possible reason for getting re-quotes could be the possibility of having a slow or bad internet connection which can delay the transmission of orders; implying that on your trading platform you are viewing old prices instead of current market prices.

Our platform supports such functionalities. Please be aware that trading operations using additional functions on your client terminal such as Trailing Stop or Expert Advisor are executed completely under your responsibility, as they depend directly on your client trading terminal.

Please be aware that when Take Profit is set on a long position, it’s placed above the prevailing market price. As a result, if you place a Take Profit order after you open a position when it is already making a loss, the take profit will act as a stop loss and your position will be closed with a loss.

Your pending order will be deleted from the system if the free margin (Equity – Used Margin) is not enough to cover the margin required for opening the specific order.

The balance illustrates your closed positions’ Profit/Loss while the Equity is the real time calculation of Profit/Loss i.e. taking into account both open and closed positions.

If you placed an instant order and you decided to cancel it, it may not always be possible to cancel if the request has already been received by our trading server. You should consider that your platform will also give you a warning: “Closing of this window will not guarantee the order cancelling”.

Please note that Sell positions are closed with the Ask (Buy) price. The price the chart is showing is the Bid (Sell) price, which is lower than the Ask price. You need to add the spread to the price that you see in the chart in order to get the Ask price.

Please note that we are using fractional pip pricing in order for the client to benefit from rounding. Instead of 4 decimal places, we use 5 and therefore the 17 pips you see are actually 1.7 pip spread.

On Wednesdays, the charge that applies is triple the regular swap. This is made in order to take the weekend into account.

Your account may be a premium account and therefore, you may be selecting the wrong currency symbol. You should select currency symbols that have a dot (“.”) at the end. These are called premium symbols and provide better spreads for our premium account holders (EUR/USD, GBP/USD, USD/JPY). Go to the MT4 market watch, right click and select “show all” for them to be displayed – if not visible.

Ensure that you are entering the correct minimum volume (0.01 if you have a premium account, and 10 for shares).

 

Please note that for premium accounts, the minimum trading volume is 0.01 lots. If you wish to trade micros, then you need to transfer funds to another account that will have a balance of under 2500 USD.

Sometimes when I’m trying to place an order I got an error message says “Trade Context is busy”, how this can be solved?

Simply restart your MetaTrader 4 terminal by closing it and launching it again.

Apple has changed the security settings to only allow installations from the App Store. To have it working, please go to “System Preferences > Security & Privacy”. On the General Tab click the little lock in the lower left corner to unlock the general preference panel. Please select the “Anywhere” option from the menu.

This can be done via the client portal. Click on “My Account”, Overview, and then click on “Actions” next to the account that you wish for the password to be changed.

To change your MT4 password, please log into your MT4 Platform, click on “Tools”, then “Options”, Click on “Change” next to the password Tab. Please enter your current password and enter a new one, then click OK.

To change Password on your Android/iPhone please click on the “Settings” tab, then click on “Accounts”. On the bottom right corner you will see a Key icon, please click on it. You will then get a pop up window to change your password.