FAQ - Frequently Asked Questions
What's the difference between a demo and live trading account?
The primary difference is that here is no capital at risk when trading in a demo account. An Internationalt Trading School demo account features real-time quotes and charts, along with all the basic trading tools and much of the information you'll have access to as an International Trading School customer, including single and contingent order types, a real-time newsfeed, up to the minute market commentary, daily and weekly research, and more. Results achieved on the demo account are hypothetical and no representation is made that any account will or is likely to achieve actual profits or losses similar to those achieved in the demo account. Conditions in the demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a live trading environment.
When you open a live, funded account, you'll have broader access to exclusive content generated daily by our senior traders and research team, as well as access to advanced charting packages provided by International Trading School with Forex.com and third party providers.
How can I renew my demo trading account?
To renew your demo account beyond 30 days simply call us at +381 (0)11 301 5392 or click here to chat live with a representative.
How much money do I need to open an account?
The minimum deposit to open a standard account with International Trading School is 1800€ or $2500 or £2,500. Мinimum transaction size for a standard account is 100,000, and has 100:1 leverage.
The minimum deposit to open a mini account with International Trading School is 180€ or $250 or £250. Minimum transaction size for a mini account is 10,000 and has 200:1 leverage.
How do I open an account with International Trading School?
Opening an account is easy. Simply complete the following three steps.
Note: Since we are representing Forex.com, your data will be sent to to them
1. Complete Application
You can open an acount HERE or download the necessary forms from our website.
2. Verify Personal Information
U.K. Residents: You are not required to submit additional information at this time.
Residents outside the UK: Please submit two (2) forms of identification, including one (1) photo ID (i.e. passport or any other government issued document evidencing nationality or residence and bearing a photograph), AND one (1) proof of address as represented on this application (i.e. utility bill, drivers licence, bank statement, etc). Required of all authorised signatories of this account.
New account paperwork can be faxed, emailed or mailed.
Fax: +44 (0) 20 7236 4870
Email: [email protected]
Mail:
FOREX.com
Attn: New Accounts
23 College Hill, 3rd Floor
London, EC4R 2RT
3. Fund Your Account
Once your account is open, there are two convenient ways to fund your new trading account:
- Credit or Debit card
- Wire transfer
What is the best way to send new account paperwork?
The fastest method to send new account paperwork is by fax or email. New documents should be faxed to +44 (0) 20 7236 4870 or e-mailed to [email protected]. Lower quality or old fax machines are often difficult to read. If you do not have access to a high quality fax machine, scanning and then e-mailing the image is often times a simple solution. If you do not have access to either a fax machine or a scanner, documents can always be sent through the mail to:
FOREX.com UK Ltd.
Attn: New Accounts
23 College Hill, 3rd Floor
London, EC4R 2RT
How do I know if my account has been opened?
Once your account is opened, you will receive an email with your username and instructions for accessing your account. Please note that username's are only assigned after your account paperwork has been approved.
Are there data fees associated with my FOREX.com account??
Once your account is opened, you will receive an email with your username and instructions for accessing your account. Please note that username's are only assigned after your account paperwork has been approved.
How do I fund my account?
There are two easy ways to fund your account.
Credit or Debit Card - The fastest way to fund your account
Wire Transfer - Funds are typically available after 1-2 days
To Fund your account: Login to MY ACCOUNT and visit the HOME tab > Add/Withdraw Funds.
How do I withdraw money from my account?
Self directed clients, please login to MyAccount.
If your account is being managed by a third party, click  HERE to download a form. After that, fill in the required informations and send it as an attachment in an email to [email protected] .
Withdrawal requests via wire transfer will incur a fee of £15 or currency equivalent.
Withdrawal requests are processed within two (2) business days of receipt.
What is considered a 3rd party?
International Trading School and FOREX.com will not accept third party deposits or withdrawal requests. The name(s) on the International Trading School and FOREX.com trading account must be an exact match with the name(s) on the account of the other financial institution. This includes (but is not limited to) instances where the name on the bank account is not an International Trading School and FOREX.com account holder, business accounts and endorsements to FOREX.
Can I work as a trader even if i don't have any prior knowledge or experience in the field?
As with any other work, to be successful you have to grasp the theory and the practice. With trading, the practice is by far more important, because you cannot learn trading from books. It is important to understand that you can't become a trader overnight, rather you have expect to invest at the least three to twelve months in your education. For those people who don't consider knowledge and hard work as a pre-requirement for the commencement of this profession, trading can become the fastest road to a total loss of investments as well as self-confidence However, if you become persistent in this field of work, trading can become one of the most wonderful things that can happen in your life and can enable you to make even your biggest financial goals come true. One example is Mr Soros who has earned the most of his wealth through FOREX trading.
Can this be my additional job?
Yes, absolutely. Engaging in trading from time to time for a few hours each day is also possible and can be very profitable. To become a successful „part time“ trader you have to engage in at least three to four hours each day. It is very important to understand that the approach to this job is in no way less serious if you work for less than the specified time each day, it is only catered to the strategies and time in which you work.
How much money do I need to get started in this field?
For someone to start working in this business he/she should plan to have enough money to cover their schooling and life expenses for four months. If a person starts off with a prejudice that they will overnight begin to make a profit and that all they need is a few weeks to be a successful trader, they are wrong. When a trader is under pressure he is stressed, nervous and impatient and rarely makes the correct decisions, which usually means a lot of problems. Another thing which must be taken into consideration for those people who are starting to trade with their own money is that they should trade the amount of money they can handle losing – and that it won't represent a very serious problem in their lives. That is the only way to be competitive with successful traders who enter each trade without fear, precisely due to the fact because they have pre-planned, regardless of whether he is successful or not.
How old do I have to be to be able to work in this field?
There is a great misconception regarding the age which someone can engage in trading in the stock exchange. Most people think that people who are in this business are those between the ages of 20 and 30. It is important that you understand that every person between the ages of 18 to 70 and even older can engage in this business, everyone who is able to adequately answer the demands as set by their strategy of trading. In the stock exchange there are strategies which demand everyday attention and those for which only a few hours weekly or monthly are needed. In any case it is important for you to understand that success in trading doesn't equate to your age, rather the synchronization of your strategy with your abilities, wishes and possibilities.
What are the risks in this business?
The risks in this business are precisely that that you may not be strong enough to persist and change your self-destructive tendencies and adopt those which make you successful. With that comes everything else you run the risk of, including time and money which you can lose during the process. The risks in this business are determined by your strategy of trading and if you don't want to expose yourselves to huge risks you won't have them.
Is this a stressful job and will it affect my family life?
Every job in where you are "navigating blind" and without a business plan presents extreme stress. That is the characteristic of gambling and everyone who in this way engages in trading exposes themselves to losing his/her money and family. A characteristic of every successful trader is that he is always aware of the risk and potential loss of his position and that is the only thing which he can and must plan and control. An analogy is that it's like your monthly expense for your insurance policy. If you plan to have a loss which is within your budget, then there is no stress, only the execution of your business plan. It is up to you to become a good trader and recognize in your business plan situations in which you need to invest your money and those when you need to hold back, because a potential profit cannot justify a potential loss. As you know, without risk there is no profit, and it is up to you to manage these things according to your liking.
In any case, trading can be a pleasant job if you make your trading business plan while you are cool-headed and before you start to trade, so that trading is simply an execution of your business plan where there are no big surprises or stress.
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Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
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