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Frequently Asked Questions – Answered

If you’re trading Forex or CFDs, chances are you’ve got questions.

That’s not a weakness — it’s the starting point.

We’ve gathered the questions traders actually ask.

These are the questions that arise before making a first trade, switching brokers, or scaling up with more confidence.

This isn’t filler content or fine-print deflection. It’s straight answers, written in plain language, so you know exactly what you’re dealing with before you make a decision.

Too many brokers profit from confusion, especially when traders are new. We’re not interested in that game. As a trader—and as a client—you deserve clarity.

You deserve to understand the rules, the risks, and the tools you’re using. No question is too basic, too small, or too early to ask.

Every experienced trader started exactly where you are now. Curious, cautious, learning by asking better questions.

And the questions don’t stop once you gain experience.

They evolve.

That’s normal. Trading is a moving target, and staying informed is part of staying sharp.

That’s why this knowledge base keeps growing.

We update it regularly using real feedback and surveys from traders, building a living resource you can return to as your trading journey unfolds.

Knowledge doesn’t eliminate risk — but it does remove blind spots.

And that’s where confidence begins.

Why do I need to submit documents for account verification?
All brokers we review are regulated. That means they are legally required to follow strict compliance rules set by financial authorities. Verifying your identity protects both you and the broker, helps prevent fraud, and ensures your account is compliant from day one.
What documents do I need to submit to a broker?
In most cases, you’ll need two things: – Proof of Identity – Proof of Residence. Some brokers may also request additional documents, such as proof of a bank account or a copy of the card used to fund your account. This depends on the broker and the funding method you choose.
Which documents are accepted for identity verification?
Accepted documents typically include: – A valid passport (national or international) – A valid driver’s license – A valid national ID card. The document must be current, clear, and readable.
Is there a cost to open a trading account?
No. Opening and maintaining a trading account is free, whether it’s a live or demo account. Demo accounts are usually time-limited (often around 30 days), but there is no cost attached.
Which documents are accepted for address verification?
Your proof of residence must clearly show your name and address as listed on your application. Accepted documents include: – Utility bills – Bank or card statements – Council tax bills – Official local government address certificates Documents are usually required to be recent (within the last 3 months).
How long does account verification take?
Verification usually takes between 24 and 48 hours. This is standard across most regulated brokers, although it can be faster if your documents are clear and complete.
How much money do I need to open an account?
Each broker sets a minimum deposit requirement. While some allow very small deposits, most traders start with at least $500 (±R5,000). This gives them better flexibility, proper position sizing, and more room for effective risk management.
Does the broker charge a monthly fee?
In most cases, no. However, some brokers charge an inactivity fee if your account remains unused for three consecutive months. This is broker-specific and not very common, but it’s always worth checking the terms.
Can my account balance go negative?
Some brokers offer negative balance protection. If your account goes into a negative balance, the broker resets it to zero so you never owe them money. This is an important feature and something you should actively look for when choosing a broker.
Should I trade with a non-regulated broker?
Absolutely not. Trading with an unregulated broker is extremely risky. If something goes wrong, there is no authority to protect you or your funds. Regulation is non-negotiable.

Trading Terms You’ll See Here

See all terms

  • Account Verification

    The process of confirming your identity and address to comply with financial regulations and protect your account.

  • Regulated Broker

    A broker licensed and monitored by a financial authority to ensure fair trading and client protection.

  • Proof of Identity (POI)

    An official document (passport, ID, or driver’s license) used to confirm who you are.

  • Proof of Residence (POR)

    A document showing your name and address, such as a utility bill or bank statement.

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