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Questions regarding Documents & Account Opening Procedure

No, you do not need to sign any documents.

Any agreement between the Company and its Clients, is governed by the Distance Marketing of Consumer Financial Services Law. Thanks to that, an agreement does not need be signed but it has the same legal effect and establishes the same rights, duties and responsibilities as a printed agreement signed between both parties.

If you would like to have a printed and signed copy of the agreement, you can send us two (2) copies of our Terms and Conditions of Use, signed by you, to our registered address, stating your postal details. We will then send you back a copy that has been signed and stamped by us.

The agreement shall commence once you accept our Terms and Conditions of Use and it is valid indefinitely – until either you or we decide to terminate it.

Within the first fourteen (14) days from initiating a business relationship with us, you can cancel the agreement by simply informing us via email.

After fourteen (14) days, you can still cancel the agreement at any time but you will need to provide us with at least three (3) days’ notice.

Whether you are cancelling the agreement at the beginning of our cooperation or terminating it at a later date, there will be no charges or penalties imposed on you.

You can find more information regarding this subject in our Terms and Conditions of Use.

Yes. As part of our obligation to comply with the applicable AML & KYC legislation, we request from all our Clients to provide certain Verification Documents. Those documents typically include proof of identity, proof of residence and proof of deposit (payment method).

KYC, or Know Your Client is a procedure required by law and implemented by us, that is used to confirm and verify the identity of each person who registers and opens an account with us.

AML is a policy enforced for the purpose of preventing money laundering and terrorist financing.

In compliance with both AML and KYC procedures, we require that you provide us with the appropriate Verification Documents, as soon as you decide to become a Client of FxNet.

You can find more information regarding the AML & KYC Procedures in our Terms and Conditions of Use.

We offer a variety of accounts to suit all the individual needs of our Clients. For more information on account types click here.

An Islamic Account is an interest-free account which adheres to Islamic Sharia Laws applicable to Forex, Shares, Commodities and Index Trading.

To find out more, and to apply for an Islamic Account, please see the information available here.

You can open up to five (5) live trading accounts. They can have the same or different base currency and you can transfer funds between them. At the same time, you may create as many demo accounts as you need.

It is a very simple procedure. Just click on the OPEN DEMO ACCOUNT or OPEN LIVE ACCOUNT button available on the top of our website and fill in all the information required in our Registration Form.

Your account with a 0 balance will remain open for six (6) months. If during that time you do not get back to us, your account will be archived.

If you would like to re-open your account once it has been archived, you should e-mail our Support Team at support@fxnet.com, which will provide you with further instructions.

We are required by the applicable laws and regulations, to assess your knowledge and experience in trading complex financial instruments such as CFDs, in order to evaluate whether such instruments are appropriate for you. The Appropriateness Test is included in the registration process. When you decide to register with us, we will ask you few questions reflecting your knowledge and experience about trading. Based on your answers, the system will calculate an adequate leverage ratio, which will be assigned to your account.

You can find more information regarding this subject in our Terms and Conditions of Use.

In compliance with the applicable laws and regulations, the leverage level assigned to your account should reflect your knowledge and experience in trading complex financial instruments like CFDs.

If during the application process, you have requested a higher leverage ratio than the one that has been assigned to your account, then it means that you do not have sufficient experience in order to use higher leverage.

If you feel that your circumstances have changed and you are ready to trade with a higher leverage, just send us an email to support@fxnet.com and we will inform you on how to retake the Appropriateness Test.

Following the implementation of the Markets in Financial Instruments Directive (MiFID) in the European Union and in accordance with the Investment Services and Activities and Regulated Markets Law of 2007 in Cyprus, we are required to categorize our Clients into one of the following three categories: Retail, Professional or Eligible Counterparty.

The type of Client Categorization will determine the level of protection afforded to you under applicable legislation and a Retail Client is afforded with the highest regulatory protections available, and as such all our Clients are treated as a Retail Clients.

You can find more information regarding this subject in our Client Categorization Policy.

Yes, you have the right to appoint an Authorized Representative to place Orders and trade on your behalf. To do so, please send an e-mail to our Support Team at support@fxnet.com containing your Power of Attorney.

You can find more information regarding Authorized Representative subject in our Terms and Conditions of Use. We will also require a proof of identity, proof of residence and the Fund Manager License of the person you wish to authorize.

If you have not found the answers you were looking for in here, please send your questions to support@fxnet.com

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