FAQs: Account Information
Q: Is there a practice account available?
A:
Yes, FX Solutions offers a FREE CFD and Forex practice account for the Global Trading System (GTS).
With a GTS practice account, you can trade multiple ways on one platform: GTS Web, GTS Pro, and FX AccuCharts. Visit the practice account registration page to set up a practice account.
Q: What is the difference between a practice and live trading account?
A:
To help traders learn forex and CFD trading strategies, FX Solutions’ practice GTS platforms are fully functional. The only difference between a practice forex and CFD trading platform and a live account is that there is no capital risk in forex and CFD trading on the GTS practice platform.
Q: How do I open an individual GTS account with FX Solutions?
A:
For an individual account, simply complete the GTS online application. Please note applications may require up to two (2) business days to process.
Q: How do I open a joint GTS Account?
A:
Please complete our Account Application PDF. For your convenience, you may email a scanned copy of the completed application to Administration@fxsol.co.uk or fax it to 001-201-345-2520. Please note that applications may require up to two (2) business days to process.
Q: How do I open a GTS business account?
A:
Please complete our Account Application PDF. Under the section labeled "Platform" select GTS and under "Account Type" select "Business Account".
For a business application, please submit Articles of Corporation and registration documents for the business entity.
For your convenience, you may email a scanned copy of the completed application to Administration@fxsol.co.uk or fax it to 001-201-345-2520. Please note that applications may require up to three (3) business days to process.
Q: How do I open a GTS IRA account?
A:
Please complete our Account Application PDF. Under the section labeled "Platform" select GTS and under "Account Type" select "IRA Account".
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.
Q: How long does a GTS trading account application take to process?
A:
Individual and Joint applications may require up to two (2) business days for processing. Business and IRA account applications may require up to three (3) business days for processing.
Please continue to monitor your email for any updates.
Q: How do I fund a GTS account?
A:
FX Solutions UK offers two funding methods: Credit Card and Wire Transfer. For more information on each funding method, please visit our Deposit Funds page.
Please note that deposited funds must come from an account in the same name as that of the FX Solutions account holder.
Q: How much money do I need to open an account?
A:
The minimum deposit amount for account activation is $250.
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.co.uk
By Mail:
FX Solutions UK
Park House
16 Finsbury Circus,
London, EC2M 7EB
Q: How do I know if my account has been opened?
A:
You will receive an email notification upon creation of your account. The email will include your personal FX Solutions account number along with instructions on funding your new account.
Q: When will my funds be posted to my account?
A:
After FX Solutions receives your deposit, funds may take up to one (1) business day to reach your account. Wires may take up to 48 hours. Please note that FX Solutions does not guarantee deposit times in the event of a margin call.
Q: Can I trade Forex or CFDs over the phone?
A:
FX Solutions customers may place foreign exchange or CFD trades by phone. However, please note that the GTS platforms are designed for rapid, efficient global trading online, and phone dealing should be used only in case of internet outages.
Q: How long will it take to process my withdrawal request?
A:
Withdrawal requests are processed the same business day if received by FX Solutions by 11:00 Eastern Time.
Q: When will I receive my withdrawal?
A:
Wire withdrawals are submitted to JP Morgan Chase Bank the same business day FX Solutions processes the request. Wires may take 24-48 hours to reach their beneficiary destination.
Q: Are there any fees associated with requesting a withdrawal from my FX Solutions trading account?
A:
Wire withdrawals are subject to a $25 bank fee, which is deducted from the withdrawal amount.
Q: When am I eligible to withdraw funds from my FX Solutions trading account?
A:
Withdrawal eligibility is contingent upon deposit(s) having cleared.
Clearing times are as follows:
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 into the account of another FX Solutions customer?
A:
No, internal transfers are allowed only between a customer's own accounts. Requests for third party transfers will not be processed.
Q: How many transfers am I allowed to make?
A:
There is a limit of four (4) internal transfers per calendar month per account. At the discretion of FX Solutions, a fee of $5 may be charged for each additional transfer request over the limit of 4.
Q: What is considered a third party?
A:
A third party payment would be any transfer of funds to an account that is in a name other than that of the account holder at FX Solutions.
Q: Does FX Solutions provide its clients with any tax forms?
A:
FX Solutions provides customers with a complete account history through the GTS Pro and GTS Web platforms.
To run an Individual Customer Statement, log onto GTS Pro or GTS Web and choose Individual Customer Statement from the list of available reports. Each statement is for a period not to exceed 65 days in length. To run a statement for the entire year, you must reset the start and end dates of the search parameters in increments of 2 months each. Year End Tax Summary Reports are available on the GTS platform for the previous year after December 31st.