Frequently Asked Questions
about opening your account at
FXCM UK

Q.  How do I open an FXCM UK account under the W.R. Booker & Co LLC agreement?

 
A.  Simply click on the following customized link https://secure2.fxcorporate.com/fxtr/?ib=WR_BOOKER and enter all required personal information.   

 

Q. How will FXCM UK know that I have applied to open my account under W.R. Booker & Co LLC and want to benefit from Piptopia's agreement?
 
A. After entering all requisite information at https://secure2.fxcorporate.com/fxtr/?ib=WR_BOOKER, your account will automatically be set up under the Piptopia umbrella, which includes blanket approval for 400:1 leverage as well as multiple sub accounts.  No further effort will be required on your part.


Q. Will I encounter anti-money laundering (AML) compliance issues with FXCM UK when requesting multiple sub accounts?
 
A. No. When requesting additional sub accounts, simply indicate that they are for money management strategies offered by W.R. Booker & Co LLC. 

 

Q. Will my money be held in individual segregated accounts or pooled into one account as practiced by many US based retail FX brokerages?

A. Accounts with Forex Capital Markets LTD (FXCM UK) are fully segregated in accordance with FSA’s client money rules. In the unlikely event of FXCM UK's bankruptcy, client assets would not be exposed to any bankruptcy proceedings.  (FSA ID # 217689)


Q. Will my deposits be insured by the Financial Services Compensation Scheme (FSCS)?   And if so, up to how much is insured?

A. FXCM UK is a member of the Financial Services Compensation Scheme in the United Kingdom. The Scheme is only available to certain types of claimants and claims. Payments to eligible claimants under the Scheme will vary depending on the type of protected claim the claimant holds with respect to the relevant institution. Payments under the Scheme in respect of investments are subject to a maxium payment to any eligible investor of GBP 48,000, made up 100% of the first GBP 30,000 and 90% of the next GBP 20,000. Further details of the Scheme are available at www.fscs.ord.uk.


Q. Which bank will physically hold my FXCM UK deposits? 

A. Detailed funding instructions outlining client deposit procedures with each individual banking institution can be found at http://www.fxcm.co.uk/depositing-bank-wire.jsp


Q. If I want to open a standard with several sub accounts, how many applications will I need to submit?

A. You will only need to submit one application.  


Q. If I want to open multiple accounts denominated in different currencies, each with several sub accounts, how many applications will I need to submit? 

A. One application is sufficient.  However, accounts with differing account denominations cannot be traded under the same login.


Q. Can I trade mini lots in FXCM UK’s standard account?

A. Yes, standard accounts on BOTH the FXCM Trader 4 (MT4) as well as FXCM Trading Station platform will allow trading in 10K mini lots.


Q. What is the process to transfer money between sub accounts? 

A. Funds can be transferred between accounts under the same login online through www.myfxcm.com.  Accounts with different logins will require a transfer form.


Q. What will be the cost of transferring money between sub accounts?

A. There are no fee for transfers.