FAQ
ABOUT THE COMPANY
Q. Is Tadawul FX regulated or licensed by any regulatory body?
A. Tadawul FX is authorised and
regulated by Cyprus Securities and Exchange Commission (CySec license number 103/09). We also comply with MiFID (Markets in Financial Instruments Directive) which is a European directive that regulates financial firms in the European Union.
Q. What instruments do you offer?
A. Tadawul FX offers the following instruments:
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CFDs trading of 7 major indices including NIKKEI, NASDAQ 100 and DOW
Q. Is my money safe with Tadawul FX?
A. Tadawul FX is a licensed firm that abides by strict European Union laws and regulations. In accordance with our regulatory body (CySec), clients' funds are held in segregated accounts from company's accounts. Retail clients also get additional protection through the
Investor Compensation Fund (ICF).
Q. When and where was Tadawul FX founded?
A. Tadawul FX was founded by CEO
Ramzi Chamat in 2006 in Switzerland and in the course of 2008, expanded and relocated its head office and client operations to Cyprus, part of the European Union, Tadawul FX brings together a group of experienced forex industry professionals who wanted to provide superior customer service to forex traders.
Q. How can I contact Tadawul FX?
ABOUT THE TRADING PLATFORM
Q. What trading software do you offer?
Q. Is your trading software free?
A. All trading software that we offer is free of charge.
Q. Can I trade using my Mobile phone?
A. Yes, you can trade on your iPhone, iPad, iPod, BlackBerry, Android, Smartphone, and Windows Mobile phone. To get started, please
click here. You can also access you trading account on your phone via Web Trader, our web-based MT4 platform, without having to download the platform.
Q. How can I change my MT4 password?
A. In order to change your password, please login into your MT4 trading account and then follow these steps: click on the Tools tab -> choose Options -> choose Server tab -> change password -> type your old password -> create a new password and confirm.
Q. I have forgotten my password. What do I do?
A. Please complete our
Change of TDFX Account Details document and email it back to us to
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. A new password will be sent to you by email.
Q. Where can I download MT4?
Q. What are the main reasons for platform disconnection?
A. Should you have platform disconnection, please first check that your internet connection is and was working, and if necessary, reset the internet/computer or contact your internet provider. Please also check that you are connected to the Tadawul FX Live Server (or Demo server if you are using a demo account). Lastly, it is advisable to check whether you have had any hardware failure with your equipment.
ABOUT TRADING ACCOUNTS
Q. What kind of accounts do you offer?
Q. How do I know what type of account I have?
Q. When will my Demo account expire?
A. You can use your
demo account for as long as you like. TDFX demo accounts do not expire as we understand that perfecting your trading strategy can take anywhere between a few weeks to a few years.
Q. How do I add funds to my Demo account?
A. To top up your demo account please
contact us via Live Chat or send an email to
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Q. How do I change leverage on my Demo account?
A. To change leverage on your demo account please contact us via
Live Chat or send an email to
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Q. How do I open a LIVE trading account (for an individual)?
A.
Opening a live trading account only takes a few minutes. Here is what we require from you:
1) Completion of our secure
online application form 2) A copy of Photo ID (passport/driving license/national ID)
3) A copy of utility bill/bank statement/phone bill (showing your name and residential address)
Q. How do I open a corporate account?
Q. Can I have more than one account?
A. Yes, you may open as many accounts as you like. To open an additional account, please submit a new
Online Application Form. It is not necessary to submit your ID and utility bill again (unless the details have changed) as we already have these on file.
Q. What is the difference between a Mini and a Standard account?
A. The main difference between a Mini and a Standard accounts is account balance and spread. The type of account you have depends on the balance in your account.
Mini accounts have a balance of USD 500 to USD 5,000 and
Standard Accounts have a balance of USD 5,000 to USD150,000 (or the equivalent in another currency). Clients trading on a Standard account also benefit from having better
spreads on major currency pairs.
Q. Do you offer Islamic Trading Accounts?
A. Yes, we offer
Islamic trading accounts that comply with Sharia law. Our Islamic accounts permit traders to hold open positions over night for as long as they like without getting charged interest or
SWAP fees. We also do not charge any additional fees or widen spreads for our Muslim clients like many other companies do. For more information see our
Islamic forex trading conditions.
Q. Can I login into my Live Account from different computers?
A. Yes. You can login into your account from as many computers as you like as long as the TDFX MT4 platform is installed on that computer. You can even login into your account simultaneously from different computers.
Q. Will you close my account if I withdraw all of my money and have zero account balance?
A. No, we will not. Your account will remain open allowing you to trade again in the future.
Q. How do I close my account?
A. To close your account, please email your Account Manager stating that you would like to close your account.
ABOUT TRADING
Q. What are your spreads?
A. Please see our
Spreads page to view all of our spreads.
Q. Are your spreads fixed?
A. Yes. Our spreads are fixed 24 hours a day, 5 days a week, including the Asian session and during economic releases.
Q. Do you allow scalping?
Q. Do you allow hedging?
A. Yes you may
hedge your positions.
Q. I like to trade during news releases. Is that a problem?
A. Not at all. Tadawul FX is well equipped for
news trading and volatile markets and we continue to offer fixed spreads at all times. Do keep in mind that markets can sometimes become very turbulent during economic or socio-political news releases and behave unpredictably.
Q. Can I place trailing stop orders?
A. Yes, you can. Please note that trailing stops become inactive when you log out of MT4. To read more, please see the complete
MetaTrader User Guide.
Q. Can I trade with an EA (Expert Advisor or robot)?
Q. Can I trade Micro lots?
A. Yes, Tadawul FX offers Micro lots for Mini and Standard accounts, the smallest being 0.05 lots.
Q. What are your lot increments?
A. The lot increment is 0.05. In other words the smallest lot size available is 0.05, then 0.1, 0.15, 0.2 and so on.
Q. Do you widen spreads during the Asian session or during economic releases?
A. No, we do not. Tadawul FX is one of the few companies that offers
fixed spreads at all times, even during economic releases and during the Asian session.
Q. What are your trading hours?
A. The forex market is open 24 hours a day, 5 days a week. You may trade from Sunday 23:00 GMT to Friday 22:00 GMT.
Q. What is your server time?
A. Our server time is GMT+1.
Q. What are the Asian session hours?
A. Asian trading hours are considered to run between 23:00 and 08:00 GMT time.
Q. What is your margin requirement?
A. A margin requirement refers to the deposit used as collateral for taking a position in the market, or simply, the amount of collateral that Tadawul FX requires from you to open a position, and it is expressed in percentages.
1:100 = 1% margin
1:200 = 0.5% margin
1:300 = 0.33% margin
1:400 = 0.25% margin
1:500 = 0.20% margin
Q. I got a margin call or stop out. Why did it happen?
A. A margin call is an automatic closure of a position at the current market rate. Margin call occurs when the margin requirement has been exceeded and the account balance is no longer sufficient to sustain all the open positions. Margin call is reached at approximately 100%, and it protects the client from having a negative balance or falling into debt with TDFX.
Q. What are your SWAP charges?
A.
Swap charges differ from one currency pair to another and are determined by the banks we work with. Swap rates can be found on the MT4 trading platform by taking the following steps: log in into your MT4 platform -> right click inside the market watch -> choose "symbols" -> select the currency pair -> click "properties" -> view swap rates for both long and short positions.
Q. How long can I keep a position opened?
A. You can keep a position opened for as long as you like. Please make sure you have enough margin to support your position(s) to avoid getting a margin call.
Q. What is the policy for holding positions open overnight and/or on weekends?
A. You can hold a position open overnight or over a weekend for as long as you like. Please note that unless you have an Islamic account (swap free), swap interest will apply accordingly.
Q. How can I view my trading history?
A. To view your trading history, please login into your MT4 account and press Ctrl+T on your keyboard. Click on the "Account History" tab at the bottom left, right click anywhere on the tab and select "All History," "Last 3 months," "Last Month," or "Custom period" as you require. You can view your account history from the very first trade.
FUNDS RELATED
Q. Is my money safe with Tadawul FX?
A. Tadawul FX is a licensed firm that abides by strict European Union laws and regulations. In accordance with our
regulatory body CySec, clients' funds are held in segregated accounts from company's accounts. Retail clients also get additional protection through the
compensation fund.
Q. What is the minimum deposit required to open a trading account?
A. The minimum deposit to open a trading account is $500 or the equivalent in another currency.
Q. How can I deposit funds into my account?
A. You can
deposit funds into your account in 4 ways: bank wire transfer, MoneyBookers, PayPal or credit card (which goes through the MoneyBookers system).
Q.What are your system requirements for the online funds deposit form?
A. If you experience any problems using our online deposit form, you can take the following steps:
1. Update Windows or the browser you are using (Internet Explorer, Firefox, Chrome)
2. Please ensure your browser settings have Javascript enabled
3. Ensure in your settings that you have selected to allow pop-ups from http://www.tadawulfx.com/
4. Add http://www.tadawulfx.com/public/ to your trusted sites
5. Run a complete and reliable virus scan
6. If you are using one of the higher latest versions of IE, please toggle compatibility view
7. If you are still experiencing any problems with our online deposit form, please email
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with further details on your issue and our IT department will be pleased to assist you.
Q. Where can I find your bank details?
A. Our bank details are sent to you upon the opening of your trading account. For further questions please contact us on
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Q. What do you charge for depositing and/or withdrawing funds?
A. TDFX does not charge any fees or commission for depositing or withdrawing funds. Please note however, that your bank, credit card provider, Moneybookers or PayPal may charge for the use of their services.
Q. Have you received my deposit?
A. Tadawul FX will always let you know by email when your funds have been received and deposited into your trading account. Please note that bank wire transfers usually take 2-4 working days to reach our bank account, Moneybookers and PayPal payments are processed the same working day, normally within a few hours of receipt.
Q. How can I withdraw my money?
A. To withdraw funds from your trading account please complete and send us a
Withdrawal Form. The funds must be withdrawn using the same method and to the same source as when depositing.
Q. How long does it take to withdraw?
A. All withdrawal requests are processed the same working day we receive them. A Moneybookers or PayPal withdrawal appears in your account the same working day. A bank wire transfer normally takes 2-4 working days to reach your bank account.
Q. Can I deposit via one method (eg Paypal) and withdraw via another (eg bank transfer)?
A. No, you must withdraw funds using the same method you used when depositing.
Q. Is it possible to keep an account open without any funds?
A. Yes, you may keep your trading account open without any funds. We will not close your account unless you specifically request it.
ABOUT PARTNERSHIPS
Q. What partnerships do you offer?
A. We offer
Introducing Broker (IB) and
White Label partnerships. To discuss the partnerships in more detail please feel free to
contact us via Live Chat or send an email to
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