Answers to common questions
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 48.78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Answers to common questions
Top Frequently Asked Questions
There are many different ways to learn more about financial trading which can boost your chances of success. Kindly contact our team so we can devise a learning plan to suit your schedule. Zenfinex offers one to one training, seminars, webinars, ebooks, and blogs therefore a learning plan can be tailored and customised to each and every individual traders needs.
You can reset your login details by heading to myZen and clicking on ‘Forgot Username / Password’
The spread is the difference between the buy and sell price and is usually the transaction cost when placing a trade. When a trader buys at the market price, they are buying on the ‘ask’ price which is higher than the ‘bid’ price. Alternatively, when a trader sells at the market price, they are selling on the ‘bid’ price which is lower than the ‘ask’ price. The difference between the two prices is the ‘spread’.
Leverage on your account will be set to 30:1. This is the maximum leverage that we are able to offer to retail traders due to FCA and ESMA imposed regulations. Professional traders can have their leverage increased to 100:1.
If you have an special request to change the leverage on your account you can contact us directly.
After downloading the MT4 platform, follow these steps to log in to MT4:
1) Click “File” -> “Log Into Trade Account”
2) Within the login window, uncheck the box “Save Account Information”
3) Confirm the correct server for your Live or Demo account -> select the server from the drop down menu.
4) Enter your account number in the Login box.
5) Enter your password.
It is about 3.33% of the notional position size. For example if you place on MT4 a 0.10 EUR/USD position size and the pair is trading at 1.2000. The notional volume of this position is calculated as follows: 10,000 X 1,2000 = $12,000USD. Then $12,000 X 3.33% = $265 USD is the margin required for this position. It varies depending on each currency pairs, MT4 does the calculation for you, you can check how much margin is required on the margin field on your open positions within the terminal window on MT4.
You can open an account by completing a new application here which should only take 5-10 minutes.
Please login to myZen with your live account username and password, then click “Deposit Funds”. (For clients who have filled out the online application but have not received an account username, please deposit funds here. A username will be provided after the initial deposit is processed.)
The available funding options and deposit time frames are:
Credit or Debit Card:
Approximately one business day, often less to process into your trading account.
Bank Wires (SWIFT, CHAPS, BACS, SEPA):
Approximately one to two business days (domestic) and three to five business days (international), often less, to arrive and process into your trading account.
Approximately five to ten business days after receipt to clear and process into your trading account.
Please note the time frames above are approximate. While not common, in some cases, delays in processing may occur in some instances as Zenfinex does not exhibit control over the entire funding process. All GBP cheques must be drawn on a GBP denominated UK bank account, and USD cheques must be drawn on a USD denominated bank US bank account. Cheques drawn in a currency other than GBP or USD will be returned to the remitter. Please note that Zenfinex is not responsible for any lost cheques.
Credit or debit card can be the fastest and easiest method to deposit funds online. If your deposit exceeds $10,000 or equivalent, the fastest and easiest method to deposit funds is by bank wire.
The minimum deposit for use of our online credit card or debit card system is $50. The maximum credit or debit card deposit is $10,000 or the equivalent per calendar month and the maximum ACH deposit is $50,000 per calendar month.
There are no administrative fees from Zenfinex to deposit funds.
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