RESOURCES

Frequently Asked Questions

FAQ 2018-01-27T01:59:06+00:00

Account Opening

To open a Live Account, you must submit an online application with a signed client agreement form.

You can start trading immediately once you have completed the registration process, uploaded your documents and deposited funds into your account.
If you wish to make an internal transfer, you will need to fill out an internal transfer form.
The only fees that occur are from the respective banks or payment processing companies, and will differ by method. We do not charge any additional fee on our end on neither deposits nor withdrawals. The amount credited to your account is the actual amount received by us.
While we advertise that the spread starts FROM 1.5 pips, it should be understood that this could change at any time since the spread is floating and not fixed.

Trading Platform

Why can’t I login to my MT4? (No connection error) Please make sure the password you are using is correct (check to see that ‘caps lock’ is not on), and also check the server that you are trying to log into is the correct one.
Please send us an email at support@ozfx.com with your account number and one identification document, and we will issue you a new password. For security purposes, please change your password after logging in.
To change your MT4 password, please log into your MT4 Platform and click on: Tools, Options, then click on “Change” next to the password Tab. Enter both your current password and a new one, then click OK.
Please restart the platform as this could be a result of multiple mouse clicks while an order was being processed.

Trading

This is likely due to the fact that when you placed a take-profit order, your open position was already at a loss, so the take-profit acted as a stop-loss, therefore the position closed with a loss. That is, take-profit was placed below the opening price but above the prevailing market price.
Please check to make sure that you logged in using the password for Trader and not Investor.
You need to make a request before you can trade micro lots.
The trading hours are 24 hours/day, beginning at 00:00 Monday and ending at 24:00 Friday server time. Server time is GMT + 2 (GMT + 3 during daylight saving/summer time).
Please check to see when you opened your account. Demo accounts have a 30-day expiry period. Otherwise, please check that you are using the correct password and server.
This is because all markets close between the hours of 23:00 to 02:00 server time, and therefore there is very low liquidity in the market during that time.
Please check the day on which the transaction was performed. The rate that applies is tripled on Wednesdays to account for the weekend.
Please check to make sure that you have entered the correct minimum volume.
Balance indicates Profit/Loss of your closed positions while Equity is the real-time calculation of Profit/Loss, i.e. it takes both open and closed potions into account.
You may not be able to cancel the request even if you click “cancel” if the request has already been sent to our trading server. As a reminder, the platform will also provide the message: “Closing this window will not guarantee the cancelling of the order”.
Your pending order will be deleted from the system if there is not enough free margin (Equity –Used Margin) to cover the margin required to open the said order.
Your order will be stopped out when the margin level (Equity/Used Margin) of your trading account goes below 100%. This will initiate a stop-loss and your positions will start closing beginning with the most unprofitable.
We do support both programs. Please note however that such additional programs are run under your full responsibility as they depend on your client trading terminal.
This may be due to a high volatility in the market, where prices are rapidly fluctuating, and thus we need to offer you the latest market price. When this occurs, you can either accept the new re-quote or reject it and cancel placing the order. Another possible reason may be that there is a slow or bad internet connection which can delay the transmission of order, i.e. you could be viewing outdated prices on your trading platform instead of the latest market prices.
The difference in price shown is due to the spread. The charts show the Bid price by default. A Buy position is opened with the Ask price and closed with the Bid price. You need to add the spread to the Bid price to figure the Ask price.

Client Funding

There is no charge from us on deposits or withdrawals.
Trading Bonus will be held solely for trading with OZ Forex and cannot be withdrawn.
The required minimum is USD 1,000 or other currency equivalent.
We credit the funds within an hour following our receipt of your deposit. However, the timely receipt from the bank on bank transfers may be affected by the said bank correspondent bank timings.
Yes, you can. You should note though that when you submit a withdrawal request, your free margin must be higher than the amount specified in the withdrawal instruction, including all payment fees. Free margin is calculated as equity less necessary margin (required to maintain an open position). In the case of insufficient funds, your request will be automatically cancelled and you will need to resubmit a new withdrawal request.
You will need to fill out a withdrawal request. Once the request is received by our account management officers, they will process it accordingly.
Your withdrawal request is usually processed by us within one business day; however please note that it may take approximately 3-5 business days for the funds to be credited to your bank account.
The amount that was not withdrawn is a proportion of the deposit bonus or the service charge.