FAQ

My Account

How do I open a demo account?

It is very easy to register for a free HighFx demo account. Click on the blue ‘Open demo account’ icon on the HighFx homepage. Enter your details into the fields of our online form and click ‘Submit’. Your demo account will be instantly created. An email with your platform credentials will be sent to the email address you have provided.

Are demo accounts limited in any way?

As an HighFx client, you can open as many demo accounts as you please. Demo accounts are unlimited, can be used for as long as you wish, and can be recharged with funds at any moment.

While you can trade on your demo account for an unlimited period of time, MT4 demo accounts will be deactivated if they show no activity for a period of 30 days.

MT4 and MT5 demo accounts are limited to a maximum of 70 open positions. In addition, while demo accounts present real market conditions and prices, they are simulations only, which means that during highly volatile or illiquid periods such as market openings or news announcements, they may not behave in the exact same manner as real accounts. Since similar trades requested on real and demo accounts may be treated differently during volatile periods, it is strongly recommended that demo accounts are viewed primarily as a learning tool for inexperienced traders or a place for testing new trading strategies.

How do I open a live trading account?

To register for a live trading account, click on the ‘Open Live Account’ icon on the HighFx homepage. Follow the steps required to complete the form and click submit. An email with your platform credentials will be sent to the email address you have provided. You can use this email and the password you have selected to login to our homepage. From there you can manage your account.

What happens if I lost or forgot my password?

If you forget or lose your password you can go to the password retrieval page and follow the simple steps there. Your password will be sent to the email you indicate provided it matches your registered email address. Forgot your username? Please contact our Customer Support team via phone or email.

How can I edit or change my personal details?

In order to update your new address or personal details into your account, please login to your account and change your details online. Alternatively you can contact the customer service team for assistance.

Where can I view my account balance and transaction history?

Your account balance and completed transaction history is available in the “My Account” section accessible to registered users.

HighFx Services

How Much Should I Deposit to Receive Trading Expert Support?

In HighFx, we attach a great importance on having our traders receive assistance from trading experts while trading in the financial markets. Therefore, you will receive trading expert support regardless of the size of your investment. For questions regarding trading with HighFx please feel free to contact our customer support.

How can I get help if I need assistance?

For any questions or concerns please feel free to contact our technical support center to receive assistance.

Do I need to download anything to profit?

Any standard PC with an internet connection may be used with HighFx® and no additional software download is required onto your computer in order to start trading. HighFx® recommends usage of Internet Explorer (IE7.0, IE8.0), Mozilla Firefox (v3.5, v3.6), or Google Chrome (v4.0) for a smooth trading experience. Java script must be enabled to trade in our site.

Deposites and Withdrawals

Introduction to Deposits

In order to deposit funds to your HighFx™ account you must be a registered customer of HighFx™. Funds may be deposited by accessing the banking page from the main menu bar. You will need to be logged in to access this section.
In order to make a deposit, choose a method from the left hand side of the deposit tab. All of the mandatory details (marked with an asterisk) must be filled in the form. Click the Deposit button to finalize the process.
If you are using a credit or a debit card, the successful deposit will be acknowledged by the system and your balance automatically updated. All other payment methods require the funds to be received by HighFx™ before your balance is credited.

How to Deposit

HighFx is able to accept deposits using the following methods:
Credit Card or Debit Card
Wire Transfer from your bank account
For full details please see our banking page.

Please note the following:

1) We are unable to accept funds from any source other than the account holders own funds.
2) Account balances will only be updated on receipt of the funds by HighFx.

Maximum Deposit

The maximum deposits accepted by HighFx are as follows:
Daily Limit: 50,000 USD, EUR or GBP depending on the trading currency.
Weekly Limit: 200,000 USD, EUR or GBP depending on the trading currency.
Monthly Limit: 500,000 USD, EUR or GBP depending on the trading currency.
HighFx™ reserves the right to change these limits without prior notice and to request proof of ID in the event of substantial deposits.

Deposit Currency

The currency deposited is determined by the base currency selected at registration. All transactions executed in your account will be based on the Deposit Currency.
The Deposit Currency parameter is fixed for each user account and cannot be changed after the account was funded for the first time.

Deposit Methods

- Credit and Debit Cards
HighFx™ currently accepts payments from the following credit and debit cards:

  • Visa
  • Visa Electron
  • Mastercard
  • Mastercard Debit
  • Dinners Club
  • Maestro International
  • JCB
  • Carte Bleue
  • Dankort
  • CartaSi
  • Laser
  • Discover

Wire Transfer

HighFx offers a fast bank wire transfer service through Envoy Services a company registered in the UK and regulated by the Financial Services Authority.Minimum deposit with wire transfer is 500 USD, EUR or GBP depending on your trading currency.
Confirmation of a wire transfer may take up to 5 days.

Account Verification

HighFx™ reserves the right to request documentation for account verification when a deposit is made by the customer. This documentation is used for account verification purposes only and is maintained by HighFx as encrypted data in a secured environment.

Account Verification is executed at two levels:
Customer verification - documents required: Passport or national identification card together with a current valid utility bill.
Credit Card verification - documents required: Copy of both sides of credit card displaying the last four digits of the card and the expiry date.
Customers who have not completed account verification process may be prevented from depositing further and/or trading until the process is complete.

Introduction to Withdrawals

In order to withdraw funds you must have the requested funds in your account. Withdrawal requests may be made by accessing the banking page from the main menu bar. You will need to be logged in to access this section.

Withdrawals will always initially be made back to the original deposit source. Money that cannot be paid to the funding source will be transferred to a bank account held in the name of the account holder.

Withdrawals may result in cancellation of customer bonuses awarded by HighFx™ which have not been wagered and converted to part of the trading balance.

Withdrawals will only be made to accounts that have completed the verification process.

How to Withdrawal

The withdrawal section of the Banking page may be accessed by selecting the withdrawal tab from the Banking Page Menu.

Step 1: Enter the amount for withdrawal and then click on the next button

Step 2: This step is dependent upon the withdrawal method.If all the requested amount can be returned to a credit card then all that is required is to click on the withdraw button to complete the process.

In the event that the requested amount requires a supplementary withdrawal method (e.g. wire transfer) other than return to the depositing credit card then click on the next button to continue, enter the wire details and then click on the withdraw button to complete the process.

Withdrawal Currency

Withdrawal currency is the trading currency which you had selected for your account during the registration process. Withdrawals are only allowed in the trading currency selected as part of the registration process.

Withdrawal Methods

Requests for withdrawal will be processed by HighFx™ back to the original fund source. Withdrawals will be processed to the funding credit or debit card, bank account, Liberty Reserve account or MoneyBookers accounts used to deposit funds.

Withdrawals on deposits made by Western Union or MoneyGram will be paid by a wire transfer to a bank account held in the name of the depositing customer.

In a case where the value of a withdraw request to a credit card exceeds the value of the amount deposited by credit card, the remaining value will be transferred by wire transfer to a bank account held in the name of the depositing customer. See Supplemental Wire Withdrawal section.

In order to comply with anti-money laundering policies, HighFx™ requires all accounts to be verified before first time withdrawal. Customers will be notified by Email regarding documentation required. Withdrawals will not be processed on accounts that are not completely verified.

Supplemental Wire Withdrawal

In the event that a requested withdrawal exceeds the amount deposited through the deposit method, the balance of the withdrawal will be transferred by wire transfer. The normal minimum value for a supplemental wire withdrawal is 100 USD, EUR or GBP. Lower values will be returned to the account balance except in the case of an account closure (see account closure under the other section of the banking page).

Withdrawal Charges

One withdrawal per month is allowed free of charge. Additional withdrawals are liable to a withdrawal fee of 30 USD, EUR or GBP depending on the trading currency.

All wire transfers made by HighFx are made using the “share” charges method where corresponding bank charges are borne by the receiving party.

Minimum Withdrawal Amount in HighFx

There is no minimum amount for a withdrawal to credit card, Liberty Reserve or MoneyBookers.

For wire withdrawals the minimum withdrawal amount is 100 USD, EUR or GBP.

Verification

Withdrawals are processed by HighFx™ only to accounts which have been fully verified by the risk management department. Customers will be notified in the event that documentation is required for processing. Please refer to the verification section under deposits for more details of documentation required.

Withdrawals require all credit cards used to deposit with HighFx to be in verified status.

#All credit cards must be fully verified

Withdrawal Span

Withdrawal requests received by HighFx™ for a verified account are normally processed within 36 hours of the request.

Withdrawal requests received by HighFx™ for a non-verified account are normally processed within 36 hours of receipt of the verifying documents.

Withdrawal Cancellation

Pending withdrawals may be canceled from the pending requests section accessible from the banking tab. Canceling a withdrawal will return the withdrawal amount to the balance available for trading.

All withdrawal requests in pending state (awaiting documents) will be automatically canceled by HighFx™ after 14 days and the amount returned to the customer balance.

Statement
All deposits, withdrawals, and charges will be included on credit card statements under www.HighFx.com.All bank wire transfer and Liberty Reserve payments are made to/from Mika Holdings Inc.

Dormant Accounts
Accounts are defined as dormant if no login is registered during a six month period. Customers whose accounts are close to being defined as dormant will be notified by e-mail. Should an account reach the dormant state it will begin to incur a handling charge of 10% of the account balance per month. Login to the account after the start of the dormant payments will reactivate the account but will not entitle the customer to any refund of handling fees already levied.

Bonus
Account bonus cannot be withdrawn until the bonus becomes part of the account balance. The conditions under which this occurs are defined by marketing campaigns run by HighFx™ and subject to change.
To view the full terms and conditions, please visit Bonus Terms and Conditions

Security
All financial transactions made with HighFx™ are fully secured using SSL (secure socket layer) technology. For further information please visit Security and Privacy page.

Trading Forex

What Is Forex?

FOREX the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.

The aim of forex trading is simple. Just like any other form of speculation, you want to buy a currency at one price and sell it at higher price (or sell a currency at one price and buy it at a lower price) in order to make a profit.Some confusion can arise as the price of one currency is always, of course, determined in another currency. For instance, the price of one British pound could be measured as, say, two US dollars, if the exchange rate between GBP and USD is 2 exactly.In forex trading terms this value for the British pound would be represented as a price of 2.0000 for the forex pair GBP/USD. Currencies are grouped into pairs to show the exchange rate between the two currencies; in other words, the price of the first currency in the second currency.Some commonly traded forex pairs (known as ‘major’ pairs) are EUR/USD, USD/JPY and EUR/GBP, but it is also possible to trade many minor currencies (also known as ‘exotics’) such as the Mexican peso (MXN), the Polish zloty (PLN) or the Norwegian krone (NOK). As these currencies are not so frequently traded the market is less liquid and so the trading spread may be wider.

Who owns Forex and where is it located?

It's not owned by anyone in particular. Forex is an interbank market, meaning that its transactions are conducted only between two participants — seller and the buyer. So as long as the current banking system will exist, Forex will be here. It's not connected to any specific country or government organization.

I can't (or don't want to) install any Forex trading software on my computer. Can I still trade Forex?

If you don't want (or it is not possible) to install new software to start trading Forex then a good option for you would be using web based trading platform.

What is leverage?

Leverage allows traders to make larger investments than their initial risk capital will allow. For instance, a trader using 10:1 leverage can control a $10,000 investment with $1,000.

What is a CFD?

A CFD, or contract for difference, is an agreement that allows you to speculate on the value of a financial instrument without having to purchase it outright and take possession of it. In a CFD contract, if the value of the instrument in question is higher when the agreement is closed than it was when it was purchased, the seller must pay the difference to the buyer, if the value is lower the buyer must pay the difference to the seller.

What is margin?

Margin is money you need to have in your broker account to secure your open position.

What are the "long" and "short" positions?

Long position is a "buy" position, meaning that this position will be in profit if price goes up. Short position is a "sell" position, meaning that this position will be in profit if price goes down.

What are the working hours of Forex market?

Forex market is open from 22:00 GMT Sunday (opening of Australia trading session) till 22:00 GMT Friday (closing of USA trading session).