Mini Account Transfer Form
By completing the following form, you are requesting FXCM Australia Pty. Limited to change your pricing and execution for one or all of your FXCM accounts from a Standard Account to a Mini Account setting.
Please take care when completing this form and ensure that you understand the terms of your request before you click submit. Feel free to contact client services should you have any questions, comments or concerns regarding your request.
Please note your account must be flat for at least 24 hours at the time of processing.
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Standard and Active Trader Accounts: Standard and Active Trader accounts offer 18 CFD instruments on 200:1 leverage and 39 currency pairs on 100:1 leverage. Accounts default to a Low Spreads + Commission pricing structure. Spreads are variable and are subject to delay. Standard and Active Trader accounts with equity below 10,000 CCY may be switched to a Mini Account.
Mini Accounts: Mini accounts offer 18 CFD instruments and up to 21 currency pairs. Mini accounts default to Dealing Desk execution, where price arbitrage strategies are prohibited. FXCM determines at its sole discretion, what encompasses a price arbitrage strategy. Mini accounts utilising prohibited strategies may be switched to No Dealing Desk execution. Mini accounts offer spreads plus mark-up pricing. Spreads are variable and are subject to delay. Mini accounts with equity less than 10,000 CCY have 400:1 forex leverage; between 10,000 and 20,000, 200:1; more than 20,000, 100:1 leverage and No Dealing Desk execution.
Execution Disclaimer: FXCM aggregates bid and ask prices from a pool of liquidity providers and is the final counterparty when trading forex on FXCM's dealing desk and No Dealing Desk (NDD) execution models. With NDD, FXCM's platforms display the best-available direct bid and ask prices from the liquidity providers. In addition to the spread, the trading cost with NDD is a fixed lot-based commission at the open and close of the trade. While generally NDD accounts offer spreads with no markups, in some circumstances, FXCM may add a markup to NDD spreads. This may occur due to, but not limited to, account type, such as accounts opened through a referring agent. With dealing desk execution, FXCM can act as the dealer on any or all currency pairs. Backup liquidity providers fill in when FXCM does not act as the dealer. FXCM’s dealing desk has fewer liquidity providers than NDD. There are many other factors to consider when choosing an execution model (such as conflict of interest, trading style or strategy). See Execution Risks. Note: Contractual relationships with liquidity providers are consolidated through the FXCM Group, which, in turn, provides technology and pricing to the group affiliate entities.
Compensation: When executing customers' trades, FXCM can be compensated in several ways, which include, but are not limited to: charging fixed lot-based commissions at the open and close of a trade, adding a markup to the spreads it receives from its liquidity providers for certain account types, and adding a markup to rollover. Under the Dealing Desk execution model, FXCM may act as a dealer and may receive additional compensation from trading.
Leverage: Leverage is a double-edged sword and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.