Frequently Asked Questions
How do I know my funds are safe?
Kindly see our section regarding safety of funds.
What is Forex?
Forex is an abbreviation of the term Foreign Exchange. It is a term used to describe the exchange of one currency for another, through the purchase/ sale of one currency for another. The act of exchange of currencies is performed with the aim of making gains or offsetting risk which may arise through speculation regarding the movement of certain currency pairs.
The Forex, or FX market is a global over the counter (OTC) market, meaning virtually anyone can participate in the act of Forex trading, as long as they have an internet connection and an account setup. As such the Forex market has become the largest financial market with a daily volume in excess of $4 trillion!
What does BelFX provide?
BelFX provides its members with a world renown platform (MT4) from which they may participate on an Over The Counter (OTC) basis with a variety of Financial Instruments, Including Forex, CFD’s, Stock Indices and much more.
When Can I Trade Forex with BelFX?
Forex can be traded from 22:05 GMT on Sunday to 22:00 GMT Friday. For full trading hours visit our Market Hours Page.
Where is BelFX Ltd registered and licensed?
BelFX is registered and licensed by the International Financial Services Commission (“IFSC”) in Belize with license number IFSC/60/260/TS/17. License and Registration page.
How can I open an account with BelFX?
Simply click here to fill out a few short forms and become a member of the BelFX community within minutes!
Are any documents needed from me?
As a regulated entity, and in an effort to know our clients better, BelFX requests that you submit 2 documents initially; those being a proof of ID and proof of residency documents (e.g. passport and utility bill).In accordance with its regulatory requirements, BelFX may from time to time request for further documentation, as may be deemed necessary.
Does BelFX provide any assistance with respect to recommendations on Trades?
BelFX places great emphasis in providing its members with as much information as is possible in an effort to help clients make the right trades such as the Economic Calendar. For further information on the assistance provided, please ask your personal account manager.
What Leverage does BelFX allow me to use?
This is in accordance to your account type, however the maximum leverage currently provided for BelFX members is 1:500. As with all other aspects, BelFX is flexible in allowing for such leverage to larger account types on a bespoke solution. As such kindly check with your Account Manager on a solution for you!
How can I deposit/withdraw money into /from my BelFX Account?
A full list of deposit and withdrawal options can be found here.
What currencies can be used to deposit in my BelFX account?
BelFX currently accepts the following as base currencies: USD, EUR, JPY, GBP.
How long does a deposit take to process?
Kindly click here.
What is a Spread?
A Spread is the name given to the difference between the Bid and Ask price. i.e. the prices at which you as a client can Sell and Buy, respectively.
What is meant by Long/ Short Positions?
When you buy a certain currency pair, you are said to have taken a long position in that pair. When you sell a certain currency pair, you are said to have taken a short position in that pair.
Can I open more than one demo/real account?
There is no limit to the number of demo accounts you may open. You can open up to 5 real trading accounts.
Can I keep my account open with 0 balance?
Yes – There is no time limit with which you may have an account with balance 0.
What account types does BelFX offer?
To view the full list of Accounts offered please click here