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FAQ

A colour copy of valid passport or other official identification document issued by authorities (e.g. driver’s license, identity card, etc). The identification document must contain the client’s full name, an issue or expiry date, the client’s place and date of birth or tax identification number and the client’s signature.

A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address.

No, your new account will be validated automatically, as long as you will use the same personal /contact details as for your previous account.

If you wish to update your email address, please send an email to support@vfmbrokers.com from your registered email address.

If you wish to update your residential address, please send an email to support@vfmbrokers.com from your registered email address and upload the POR (not older than 6 months) confirming that address.

Click Create Live Account, fill in the form and upon completion, you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu.

Click Create Demo Account, fill in the form and upon completion, you will receive an email with your login details that you can use to log in to our secure Members Area.

If you fill out all details correctly, it takes less than 5 minutes.

If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice and start trading.

We offer the following trading account types:

  • Essential
  • Ultimate
  • Premium
  • Islamic

For further details, please click here.

Where, for whatever reason, we suspect that a client, or anybody for whom they are acting, may be undertaking (or attempting to undertake) a transaction involving the proceeds of any crime it must be reported as soon as practicably possible and in writing.

Internal reports must be made regardless of whether any business was, or is intended to be, actually written.

The minimum amount you can deposit is $100 or equivalent in any other currency.

The minimum amount you can withdraw is $50 or equivalent in any other currency.

Yes, we do. You can request a swap-free Islamic account by following the instructions described here.

At VFM BRokers, demo accounts do not have an expiry date, and so you can use them as long as you want. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, you can open a new demo account at any time. Please note that a maximum of 5 active demo accounts are permitted at a time.

No, you cannot lose more than the amount you deposited. Should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with your next deposit.

A Stop-loss is an order for closing a previously opened position at a price less profitable for the client than the price at the time of placing the stop loss.

Stop-loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.

Using a Stop-loss is useful if you want to minimize your losses when the market goes against you. Stop-loss points are always set below the current BID price on BUY, or above the current ASK price on SELL.

A Take-profit is an order to close a previously opened position at a price more profitable for the client than the price at the time of placing the take profit. When the take-profit is reached, the order will be closed.

Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.

Take-profit points are always set below the current ASK price on SELL, or above the current BID price on BUY.

A Trailing Stop is a type of stop-loss order. It is set at a percentage level either below the market price for LONG positions, or above the market price for SHORT positions.

Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.

The Close By is a function on the MT4 and MT5 platforms that allows you to simultaneously close two opposite positions on the same financial instrument and save one spread. The buy order needs to close with a sell order, and the sell order needs to close with a buy order.

Multiple Close By allows closing more than one opposite position at the same time. In case you have two opposite orders, you can use one of the orders to close the other one, and thus gain or lose the net difference.

Amount of Base Currency*Pips= Value in Quote Currency
– Value of 1 pip in EUR/USD= 1 Lot (100 000 €)*0.0001= 10 USD
– Value of 1 pip in USD/CHF= 1 Lot (100 000 $)*0.0001=10 CHF
– Value of 1 pip in EUR/JPY=1 Lot (100 000 €)*0.01= 1000 JPY

Yes, we do. You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously. When you open a BUY and a SELL position on the same instrument and in the same lot size, the margin is 0.

However, when you open a BUY and a SELL position on a CFD of the same type and lot size, the margin is only needed once.

The margin of CFDs, when you are hedged, is always 50%.

Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).

Example:

Your account balance is 100 EUR

The leverage of your account based on the instrument you wish to trade is 30:1

For your trading capital this means 30 * 100 EUR = 3,000 EUR to trade (instead of 100 EUR).

No, you can’t change the leverage once your start trading on your account.

The profit calculation is as follows:
(Close Price-Open Price)*Lots*Contract Size
Please note that the lot size on every CFD differs.

Slippages hardly ever occur if you trade with us. Sometimes, however, especially when important economic news is released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.

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