FAQs: Account Information
Q: Is there a practice account available?
A:
Yes, FX Solutions will provide you with a FREE, 30-day Global Trading System practice account. A practice account allows you to trade Forex and CFDs on all four GTS platforms: GTS Web, GTS Pro, GTS Mobile, and FX AccuCharts. Open a practice account at the GTS practice account registration page. There is a separate registration process for a MetaTrader4 practice account. Register at our MetaTrader4 Platform page to trade Forex and CFDs with MetaTrader4.
Q: What is the difference between a practice and live trading account?
A:
Our practice GTS and MetaTrader4 trading platforms are fully featured to help traders learn forex and CFD trading strategies. They differ from live accounts only in that trading on a practice forex and CFD trading platform carries no capital risk. Otherwise it is identical to a live forex and CFD trading account.
Q: How do I open an individual GTS account with FX Solutions?
A:
For an individual account, complete the online GTS account application. Note: up to two (2) business days may be required to process a new account.
Q: How do I open an individual MetaTrader4 Account?
A:
For an individual account, please complete the MetaTrader4 online application. Note: up to two (2) business days may be required to process a new account.
Q: How do I open a joint GTS Account?
A:
Complete the Account Application PDF. Under the section labeled “Platform”, select "GTS". For your convenience, once you have completed the business application PDF you may email a scanned copy to Administration@fxsol.com.au, or fax to 001-201-345-2520. Note: processing an application may take up to two (2) business days.
Q: How do I open a joint MetaTrader4 Account?
A:
Please complete our Account Application PDF . Under the section labeled “Platform” please select MetaTrader. For your convenience, once you have completed the application PDF you may email a scanned copy to Administration@fxsol.com.au, or fax to 001-201-345-2520. Note: processing an application may take up to two (2) business days.
Q: How do I open a GTS business/IRA account?
A:
Simply complete the Account Application PDF. Under the section labeled “Platform” choose “GTS” and for “Account Type” choose “Business or IRA Account”. For a business application: submit the Articles of Corporation and the registration documents for your business entity. For an IRA application: complete and submit the application to the custodian of your choice, who will forward it to FX Solutions. For your convenience, once you have completed the application PDF you may email a scanned copy to Administration@fxsol.com.au, or fax to 001-201-345-2520. Note: processing an application may take up to two (2) business days.
Q: How do I open a MetaTrader4 business/IRA account?
A:
Please complete our Account Application PDF . Under the section labeled “Platform” please select MetaTrader and under “Account Type” select “business or IRA account”. For a business application, please submit Articles of Corporation and registration documents for the business entity. For an IRA application, please complete and submit the application to the custodian of your choice. The custodian will then forward the application to FX Solutions. For your convenience, you may email a scanned copy of the completed application to MT@fxsol.com.au or fax it to 001-201-345-2520. Please note that applications may require up to three (3) business days to process.
Q: How long does a GTS or MetaTrader4 trading account application take to process?
A:
A GTS or MetaTrader4 Individual or Joint account application may take up to two (2) business days to be processed.
A GTS or MetaTrader4 Business or IRA account application may take up to three (3) business days to be processed.
After submitting your application, be sure to check your email for updates.
Q: How do I fund a GTS or MetaTrader account?
A:
Two methods are available for funding an FX Solutions Australia account: Credit Card and Wire Transfer. See the Deposit Funds page for details on these funding methods.
Note: funds must be deposited from an account in the same name as the FX Solutions account holder.
Q: How much money do I need to open an account?
A:
$250 is the minimum deposit amount required to activate an account.
Q: What is the best way to send new account paperwork?
A:
New account paperwork may be faxed, emailed or mailed.
Fax: 001-201-345-2520
Email: administration@fxsol.com.au
By Mail: FX Solutions Australia
Level 15
Chifley Tower
2 Chifley Square
Sydney NSW 2000
Australia
Q: How do I know if my account has been opened?
A:
Once your account has been created you will receive a notification via email. The notification will include your FX Solutions account number and instructions for funding the account.
Q: When will my funds be posted to my account?
A:
Funds may take up to one (1) business day to be credited to your account after FX Solutions receives the deposit. Wires may take up to 48 hours. Please note, however, that in the event of a margin call, FX Solutions does not guarantee deposit times.
Q: How long will it take to process my withdrawal request?
A:
Withdrawal requests received by FX Solutions by 11:00 AM Eastern Time will be processed the same business day.
Q: How will I know that my withdrawal request has been processed?
A:
You will receive an email confirmation once your withdrawal request has been processed.
Q: When will I receive my withdrawal?
A:
FX Solutions submits wire withdrawals to JP Morgan Chase Bank on the same business day we process the request. 24-48 hours may be required for a wire to reach its beneficiary destination.
Q: Are there any fees associated with requesting a withdrawal from my FX Solutions trading account?
A:
Yes, for a wire withdrawal a $25 bank fee will be deducted from the amount of the withdrawal.
Q: When am I eligible to withdraw funds from my FX Solutions trading account?
A:
Withdrawal elgibility is contingent upon whether or not customer deposit(s) have cleared.
Clearing times are:
Credit Card: 30 days
Bank Wire: same day
Q: Are there any restrictions that apply to withdrawing funds from my FX Solutions trading account?
A:
There is no limit for wire withdrawals.
All funds withdrawn must be returned to a bank account under the same name as the account held at FX Solutions. No third party payments will be processed.
Q: Can I transfer funds from a GTS platform account to a MetaTrader4 platform account?
A:
Yes. To transfer funds from your GTS platform trading account to a MetaTrader4 platform trading account, please complete the Universal Transfer form and submit to Funding@fxsol.com.au.
Q: Can I transfer funds into the account of another FX Solutions customer?
A:
No, we can process internal transfers only between accounts belonging to the same customer. We cannot process third party transfers.
Q: How many transfers am I allowed to make?
A:
You can make four (4) internal transfers per account in any given calendar month. At FX Solutions' discretion, a $5 fee may be charged for any additional transfer requested beyond that limit.
Q: What is considered a third party?
A:
Third party payments refer to funds transfers to an account in a different name from that of the FX Solutions account holder.
Q: Does FX Solutions provide its clients with any tax forms?
A:
The GTS Pro and GTS Web platform provides FX Solutions traders with a complete account history.
To generate an Individual Customer Statement, log-in to GTS Pro or GTS Web and select "Individual Customer Statement" from the list of reports available. A statement period cannot exceed 65 days. Running multiple statements by resetting the start and end dates in increments of two months will result in a full-year statement. After December 31 the GTS Platform will also provide Year End Tax Summary Reports for the preceding year.