Frequently Asked Questions
- Is FXWells a Forex broker?
- Who holds my funds when I use FXWells?
- How does your service differ from other Forex Introducing Brokers?
- Do you work with multiple Forex dealing firms and platforms?
- Why do you work with multiple Forex dealing firms and platforms?
- How is FXWells compensated?
- Will customer service, execution, pricing remain the same by using FXWells as my IB?
- How can I lower my transaction costs by using FXWells as my IB?
- What is an introducing broker?
- I am new to Forex where do I learn some basic information?
- How do I come under FXWells if I have not opened an account yet?
- Where do I send my account opening paperwork?
- How do I sign up for FXWells' Rebate Program?
- What's the difference between a demo and live trading account?
- How do I get in touch with you?
1. Is FXWells a Forex broker?
No. FXWells is an introducing broker which is a complimentary service to you that will help match you up with a broker that will best fit your needs and enhance your trading success by providing you with a volume rebate on your trades.
2. Who holds my funds when I use FXWells?
When using FXWells, your funds will be held at your dealing firm. This can be GAIN Capital, ACM or other firms working with us. Nothing will be different for you by using FXWells as your introducing broker. However you will be eligible to receive cash volume rebates from us that will enhance your overall success.
3. How does your service differ from other Forex Introducing Brokers?
Our services are custom tailored to meet our trader(s) goals and objectives. We work with traders on an individual basis in catering to their needs. Given the wide array of strategies, execution parameters and pricing plans, we are able to bring value to each specific client by leveraging our existing relationships in the industry. An example of products/services that we bring to the table include, tighter spreads, reduced transaction costs, improved execution, automated trading systems, access to our proprietary education platform and much, much more.
4. Do you work with multiple Forex dealing firms and platforms?
Yes. At FXWells, we use our trading experience to conduct diligent research and only present to you the most solid and stable dealing firms that will fit your needs.
5. Why do you work with multiple Forex dealing firms and platforms?
Forex is an industry where your brokerage relationship is critical to your trading success. We work with multiple dealing firms in order to set each client up with a Forex dealing firm that will be custom fit to his/her trading style.
6. How is FXWells compensated?
We are compensated by the dealing firms on a round turn basis for referring clients to them.
7. Will customer service, execution, pricing remain the same by using FXWells as my IB?
Yes everything will remain the same. However now customer Service will actually be better, since now you will be able to get all your questions answered at one place, FXWells Support Team while you still have the option to contact your dealing firm at any time.
8. How can I lower my transaction costs by using FXWells as my IB?
Since the dealing firms pay us for referring clients on a round turn basis we are able to pass a portion of the rebate back to you. For example if you trade 100 lots in a month at the broker of your choice, you will be able to receive as much as $500 in volume rebates from FXWells. So through our rebate program your trading costs decrease substantially.
9. What is an introducing broker?
An IB is an entity that refers traders to various Forex dealing firms such as GAIN capital ACM, and FXDD.
10. I am new to Forex where do I learn some basic information?
We suggest you start with a Forex demo account and read our special ‘Learn Forex’ Section
11. How do I come under FXWells if I have not opened an account yet?
You can open a Forex account through us or contact us at support@fxwells.com and we can send you a PDF Application to fill out and send back to us.
12. Where do I send my account opening paperwork?
You can fax all account paperwork or you can scan & email paperwork to support@fxwells.com. You can also use the online links on our site to open your accounts.
13. How do I sign up for FXWells' Rebate Program?
Contact support@fxwells.com and inquire for the rebate paperwork.
14. What's the difference between a demo and live trading account?
The only difference is that there is no capital at risk when trading on the demo system. Most demo system's are fully functional and, more importantly, the bid/ask rates available in the demo system are the EXACT rates available to live trading clients. The demo allows you to see firsthand the consistent dealing spreads offered by most dealing firms and sample the ability to deal instantly from live, streaming quotes.
15. How do I get in touch with you?
You can reach us at 646-251-4572 or by sending us an email at support@fxwells.com.
