FAQ

TRADING                  

1. How do I start?
Register > Deposit > Start Trading

2. What are the trading hours?
Markets open on Sunday at 10 PM GMT and close on Friday 10 PM GMT

3. Can I trade Forex CFDs, Binary option and Crypto in a single account ?
Yes. You can trade Forex CFDs, Binary Options & Crypto all in a single account.

4. What is the minimum Trade amount?
The minimum Trade amount is $1

5. How much can I win in Binary Option?
You can win up to 90% of the trade amount in Binary Option.

6. How much will I earn if I start trading on Forex?
It totally depends on your experience, knowledge and skills. BINAFX.com trading platform makes your way from a newbie to an experience trader much easy.

7. Do you provide an Account Manager?
Yes. We do provide Account Manager. Please refer to "Account Type" for details.

8. How to trade Binary Options?
Start trading with four easy steps:
(i) Select the Asset to Trade
(ii) Predict the Price Movement
(ii) Select the Amount to Invest > Select expiry > Take a Buy or Sell trade.
(iv) Collect the winnings

9. How to trade Crypto?
BINAFX.com offers Crypto Trading in two modes. You can trade Crypto as CFD as well as Option.

10. How to trade СFD instruments (Forex, Crypto, CFD)?
New CFD types, available in the BINAFX.com trading platform include CFD stocks, Forex and CFD cryptocurrencies. The trader’s goal is to predict the direction of the future price movement and capitalize on the difference between current and future prices. CFDs react just like a regular market, if the market goes in your favor then your position is closed In The Money. In case market goes against you, your deal is closed Out Of The Money. The difference between Binary or Digital Options and CFD trading is that your profit depends on the difference between entry price and closing price. In CFD trading there is no expiration time but you are able to use a multiplier and set stop/loss and trigger a market order if the price gets a certain level.

ACCOUNT

1. How many Account types do you offer?
BINAFX.com offers a variety of Account types with a range of features. You can check the details in "Account Type"

2. Which Account type should I select?
You can select an Account Type that suits your start up investment.

3. Can I change the currency type of my Account?
Once you have registered, you can not change the currency type. However, you can open a new account with desired currency type.

4. Can I change my contact details like phone number, address or email id?
Yes. You can change the phone number and address from your Account portal. You can send a support ticket for changes in email id or Name.

5. If I forget my password, how do I Change/Reset my password?
Yes. You can Change/Reset your password from your account portal.

6. Do you provide a Demo Account?
Yes. After you register successfully, you get a Demo account loaded with Demo balance of $10000 for practice.

7. How do I switch from Demo Account to Real Account?
You can switch from Demo Account to Real Account by clicking on the "Demo Account".

8. Can I register without deposit?
Yes. You can register without deposit.

9. How do I change the language?
You can select the language from the option in the top of the page.

10. How do I see my Transaction and Trading history?
Go to "Account", you will find "Transaction Activity" and "Trade History"

11. How can I change Leverage?
You can change it from the "Leverage" drop down menu in the Trading page.

DEPOSIT

1. How much is the minimum Deposit Amount?
The Minimum Deposit is $10

2. What are the available Deposit methods?
VISA/Mastercard, Skrill, Neteller, Perfect Money, OkPay, Payza, Bitcoin, PayPal & Bank Transfer

3. How long does it take to update the Deposit in to Trading Account?
Deposit by e-wallets are updated within few hours while Bank Transfer can take upto 5 business days.

WITHDRAWAL

1. How do I withdraw?
"Withdraw" button navigates you to withdrawal page. Select the payment method by which you deposited. Enter the amount you want to withdraw.

2. How much is the minimum withdrawal amount?
The minimum withdrawal amount is $10

3. How long does it take to process the withdrawal?
Withdrawal is processed in 24 hours and can extend to 10 business days.

4. Is there and fee/charge on withdrawal?
Withdrawal charges may apply.

5. I deposited by Card. Can I withdraw by Skrill or some other payment method?
You can withdraw by the same method by which you deposited.

6. How do I cancel withdrawal request?
Go to "Account">Transaction Activity > Withdraw > Cancel Withdraw

VERIFICATION

1. Where do I verify my Account?
Go to "Account" > Verify Account > Upload, You can verify your Account by uploading your documents.

2. Is it mandatory to verify the Account?
In compliance with BINAFX.com Agreement, verification of a live trading account is optional.

3. How long does it take to verify the Account?
The Account is verified within 24 hours-72 hours.

4. What documents do I need to upload?
Proof of Identity & Proof of Address If Deposit is done by card, you need to upload the front and back of the card, CVV covered and last 4 digits visible.

5. Can I deposit before my Account is Verified?
Yes. You can deposit before the Account is Verified.

6. Can I start trading before the account is verified?
Yes. You can start trading before the Account is verified. Account verification procedure does not affect operating with your funds. You are welcome to verify your account at any time.

7. What is the maximum size of a scanned document copy accepted for verification?
The uploaded image of the document should be of high quality, so that its data could be easily read. The maximum size is 10MB.

GENERAL

1. Do I need to download anything?
No. You do not need to download any software. Everything is integrated.

2. What does leverage mean?
Leverage is the ratio of a margin amount to the borrowed amount: 1:100, 1:200, 1:500, 1:1000, 1:100 leverage means, to open a trade, you should have 100 times less amount than the amount of a trade. In BINAFX.com you may choose the leverage from 1:100 to 1:1000.

3. Do you increase spread during the news releases?
BINAFX.com does not increase the spread during news releases. Every trader can be confident that trading terms will remain steady even during the news events.

4. Is there any difference between demo and live trading?
There are no differences in trading conditions and trading instruments. Trading on demo account is identical to live trading, except unavailability of deposit and withdrawal options for demo accounts

5. How to calculate the amount of margin for a trade?
The amount of margin is equal to the trade volume divided by the leverage.

Note: If you have any other question which you do not find here, you are welcome to send a support ticket
or mail us. We shall be glad to hear from you.   support@trading.binafx.com