Open an account
QIs there a cost to open an account?
There is no cost to open or maintain an account.
QHow long does it take to open an account?
The application form takes 3 to 5 minutes. Document review is completed in 30 minutes at the earliest and within 24 hours at the latest.
QWhat documents are needed for verification?
Please submit two documents: photo ID (driving licence, My Number card, passport, etc.) and proof of address issued within the last three months (a utility bill). If you submit a My Number card, please mask the side showing the individual number. Notification cards cannot be accepted as they carry no photo.
QCan I open more than one account?
Yes. Up to 5 accounts per person.
QCan I change my account type later?
The type of an existing account cannot be changed. To use a different type, close the existing account and open a new one, within the limit of 5 accounts.
Deposits & withdrawals
QWhat deposit methods are available?
Cryptocurrency (BTC, ETH and USDT). Bank transfers and credit cards are not supported.
QWhen are deposits credited?
Within 10 minutes at the earliest and 24 hours at the latest.
QWhat is the minimum deposit?
The equivalent of 100 USD. It is the same for every account type.
QWhat is the minimum withdrawal?
The equivalent of 50 USD.
QHow long do withdrawals take?
Funds arrive from 30 minutes. Timing varies with blockchain congestion.
QAre there any deposit or withdrawal fees?
Both are free. We also cover the network transfer fee.
QWhich networks does USDT support?
ERC20 and TRC20 are supported. ETH is ERC20 only. Funds sent over the wrong network cannot be recovered, so please check before you send.
Trading
QWhat is the maximum leverage?
FX pairs are up to 1000:1 on STANDARD and micro accounts, and 500:1 on PRO accounts. Precious metals, crypto derivatives and indices vary by symbol. See Trading conditions.
QIs there a margin call?
No. Our zero-cut policy limits your loss to the amount you have deposited.
QWhen is a stop-out executed?
When your margin level falls below 30%.
QWhat is the minimum trade size?
0.01 lots. On STANDARD and PRO accounts 0.01 lots equals 1,000 units; on micro accounts it equals 10 units.
QHow do I choose an account type?
STANDARD and micro charge no commission with a 1.3 pip spread; PRO has a 0.2 pip spread plus a commission of 5 USD per lot round turn. On a USDJPY round turn, PRO works out about 20% cheaper. See Account types.
QIs there a trading commission?
STANDARD and micro accounts are commission-free. Only PRO accounts are charged 5 USD per lot round turn.
QWhat are the trading hours?
FX, precious metals and indices trade from Monday 06:05 to Saturday 05:50 in summer time, and Monday 07:05 to Saturday 06:50 in winter time (Japan time). Crypto derivatives trade 24 hours. Hours may differ by symbol.
QCan I use automated trading (EAs)?
Yes. Any EA built for MT5 can be used as is.
QIs scalping allowed?
Yes. However, high-frequency trading and any trading that places excessive load on our servers or abuses our trading environment is not permitted.
QIs hedging allowed?
Hedging is permitted within a single account only. Hedging across several accounts with us, or between our account and another broker, is prohibited. Hedged volume within one account is excluded from IB rebates.
Platform
QWhich trading platform can I use?
MetaTrader 5 (MT5). It is available for Windows, Mac, Android and iOS.
QWhat is the server name?
AxiaPhoenixFine-MT5.
QWhat should I do if I cannot log in?
Check that the server is set to AxiaPhoenixFine-MT5 and that your account number and password are correct. If the problem persists, use our contact form or email [email protected].
QCan I use MT4?
MT4 is not offered. We provide MetaTrader 5 (MT5) only.