Frequently Asked Questions

Accounts - Opening, closing and account access information
How long does it take to open an account?
Opening an account with FX Storm is instantaneous. Once this has been completed we will help you progress through the various accounts that need to be opened with brokers, signaling systems and social trading platforms. These can take anywhere from 1 day to 3 days. To speed up the process you should have scanned copies of your passport and a utility bill for you address dated within the last 3 months.
Can I open an account with a different base currency?
Currently FX Storm conducts it's business soley in the UK therefore you must use a GBP based account
Can I close my accounts?
Yes, you may do this at anytime. Please contact us at our support desk. We will provided you with the neccasary details to close and open trades and your accounts.
Can I leave my account dormant?
Yes, its probably the easiest way to ensure you are no longer trading but may want to in the future. We can switch off signal providers from making any new trades and then you can withdraw your balance down to 1. Should you then wish to start trading again you do not have to go through the process of opening new accounts.
Who has access to my accounts?
You are the only person with access to your FX Storm account. You are the only person with access to your brokers account (where your money is held). The signal providers are able to place trades on your behalf through your signing of a letter of direction. The signal provider is not able to deposit or withdraw money to or from your account. Your broker will take an agreed percentage of monthly profit from your account with when you make a profit and deposit this with FX Storm, FX Storm is not able to access your broker account to make deposits or withdrawls.
What will I need to open an account?
You will need an electronic copy of your passport and a recent utility bill addressed to you at your UK address.
My Money - Questions about your money and how its handled
Is my money safe?
Your money is held with FXCM Ltd a subsiduary of FXCM inc and FXCM Holdings LLC. They are regulated by the FCA in the UK (registration number 217689) and your money is held in separate client account. Further, as with all bank accounts in the UK you are protected upto 85,000.
Can I make regular withdrawals?
Yes you can. As your money is held in an account with FXCM you may log on to thier portal and withdraw any amount you wish. There is usually a couple of days lag between requesting the money and it arriving in your account. You will need to leave enough equity in your account to operate any trades you want to leave open of course.
Can I make regular deposits?
Of course. FX Storm encourages you to look at the return on your investment regularly. If you find we are performing well for you feel free to deposit. Its also a good idea to remember that FX trading is a high risk investment vehicle and should only be a small part of your investment portfolio
Forex Trading - Commanly asked questions about general forex trading
Is it true that most people lose money trading forex?
Yes that is true for the statement above. If we break this down in simple numbers we can see the issue. If 100 traders all started trading today 95 of those traders will lose money. However with FX trading there has to be a winning side and a losing side for equal value of the total amount of money traded. By using FX Storm you are able to leverage our algorythmicallytested traders. You can see real live history of how each particular trader traded FX Storms money. You can see how many other FX Storm clients are using each trader to help you make the decision which one to follow.
FX Storm - Who are we and what do we do?
Are you regulated?
Yes, We are an appointed representative (AR) of xxxxxxx. This allows us to conduct finantial related business with clients under the monitor of xxxxx. Who inturn is monitored via the FCA.
Who is running FX Storm?
Please see the company profile page here for a list of our senior managers.