You need to fill out your personal information, as required by the regulatory authority, on application form and upload your ID (with your Photo) and Bill copy on EMD Forex Home Page.
You can start a live trading upon deposit of funds after opening a live account and trading may be available within an hour.
Different deposit methods may take more/less time for a live trading.
Any official piece of identification with photo and signature, such as a Passport , Identification Card or Driver License, is acceptable.
Any personal information, Photo, Signature, Issue Date, and Expiry Date, Serial Number, must be clearly legible.
Residential Proof may include a Bill of Power, Water or Local Tax Bill, recent Bank Statements, Credit Card, or an Extract Copy of Residence (issued by official Residence Center). You can choose any of the above documents.
It is required by the regulatory authorities to check and see whether a FX/CFD Trading may or may not be suitable for customer’s Asset Portfolio.
The minimum amount to open an Account is US $10, including any fees required for fund deposit.
You can open a Corporate Account ; you have to fill out the Application of Business account and upload the Business Certificate and Address Proof (Bill copy) with billing date of latest 3 months.
Deposit and Withdrawal
EMD Forex supports various methods to deposit funds including VISA / MASTER cards, PayPal, Neteller, and Skrill.
You can deposit in USD, EUR, JPY.
In case of e-wallets, we support 27 currencies.
It differs by various deposit methods, please refer to the following link for more information.
EMD Forex handles all transactions in the same day the requests are received, however transaction time also depends on withdrawal method you choose. Below is the list of withdrawal methods and the time;
– Bank Wire: within 2 Business days
– VISA / MASTER Card: before settlement date, transaction will be credited within 20 business days.
If it’s after the settlement date, you need to request the withdrawal using another method such as bank wire.
– Neteller: within an hour
Documents and Forms
You can upload your documents (ID, Residential Proof) online while you apply for a live account.
IB Agreement is the agreement between EMD Forex and Introducing Broker. It covers the various business topics including partnership.
IB needs to sign the signature page and send scanned copies to EMD Forex.
For your Corporate accounts, you have to submit Corporate Certificate and the proof of Business address.
You can use a Corporate Certificate and proof of Business address billed to within latest 3 months.
The documents are required by the Regulatory Authorities to protect the interest of our clients.
In case where ID and Residential Proof are insufficient or do not meet the requirements, additional documents can be required for qualifications.
EMD Forex offers the leverage of maximum 500 : 1 (ECN Account ; 200 :1) .
However you need to remember that using high leverage amplifies the effects of market movements on your capital.
While using higher leverage can increase your potential profits, it will equally significantly increase your potential losses.
Margin is a deposit (as a collateral) made to open a position, selling or buying, and maintain the opened position.
Margin is not a fee or transaction cost: it is a part of account balance.
However, you need to be using your margin carefully as it may increase profit potential just as much as it may cause risk of loss.
Margin ratio is the Equity over Margin Requirements
In general, the pending order is not cancelled unless the trader cancels the order. (Maximum 300 pending orders) Only when a stop-out and the pending order is to be used over and above the free margin ratio, however, the order may be cancelled.
When the ratio of Margin to Equity comes below the Margin Call Level, there will be warning red sign on the Trading terminal. When the ratio of Margin to Equity comes below the Stop Out Level, there will be compulsory closures of open position, starting from the position with biggest losses, just like stop loss execution.
Margin Call Level is to be 50%, Stop Out Level is to be 30%.