Who is NelsonFX?
NelsonFX is a domain operated by Glastrox Trade Ltd., to offer the investment service of reception and transmission and the ancillary services of granting credits or loans to clients and foreign exchange services in connection with the provision of investment services.al schemas.
What kind of broker is NelsonFX?
NelsonFX is an STP broker. Straight through Processing (STP) means, that all information about market are provided by liquid providers (banks, other brokers), which means, that conflict of interests between client and broker is not existing.
NelsonFX is receiving remuneration only for the provision of margin to the end customer, and not receiving benefits from client’s loss.
Is NelsonFX regulated?
NelsonFX is a domain operated by Glastrox Trade Ltd. to offer the investment services of:
- Reception and transmission of orders in relation to one or more financial instruments.
- Execution of orders on behalf of clients.
Ancillary services of:
- Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management
- Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loans is more involved in the transaction
- Foreign exchange services where these are connected to the provision of investment services
- Investment research and financial analysis or other forms of general recommendation in relation to the following financial instruments:
- Transferable securities
- Money-market instruments
- Units and collective investment undertakings
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
- Options, futures swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one parties (otherwise than by reason of a default or other event) *
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled that they are traded on a regulated market or/and an MTF.
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognized clearing houses or are subject to regular margin cells.
- Derivative instruments for differences
- Financial contracts for differences
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognized clearing houses or are subject to regular margin cells.
* This financial instrument is provided only for foreign exchange services where these are connected to the provision of investment services.
What security do I have when trading with NelsonFX?
At NelsonFX we understand that the security of your funds is a primary concern. Rest assured that we consider the implementation and strict adherence to financial guidelines – both internal and external – a top priority, and concrete safeguards are built within the system to ensure an efficient trading experience.
When was Glastrox Trade Ltd. founded?
Glastrox Trade Ltd. was founded in 2014 by a group of professional traders, investment managers and software engineers.
What type of trading accounts does NelsonFX offer?
NelsonFX offers 3 types of trading accounts: Live, Live Premium and Demo account. To learn more about account types, please visit the Accounts page.
I’m a novice forex trader. Can I use NelsonFX?
From beginners to professionals NelsonFX services all levels of Forex traders! Providing 24/7, multi-lingual support, NelsonFX offers a flexible platform with powerful tools to assist you in all your online trading needs.
Deposits and Withdrawals
Which payment methods can I use to deposit funds into my account?
NelsonFX accepts a wide variety of payment methods, such as:
- Credit/ Debit card (Visa, MasterCard)
- Wire Transfer
For a full list of payment methods please login to your account and go to the deposit page.
What is the minimum deposit amount for online trading with NelsonFX?
The minimum amount to open a NelsonFX account is 100 $/€/£.
When will my funds appear in my account?
The time it takes for funds to appear in your account may vary depending on the deposit method used:
- 1. Credit / Debit Cards take approximately 24 hours to process (from time of receipt)
- 2. Wire Transfer Deposits take approximately 1 – 2 business days to process (from time of receipt)
How do I withdraw funds from my account?
In order to withdraw funds, you can either log in to your account and make a withdrawal following the instructions there or fill out a withdrawal request form. You can also scan and email the request form to: firstname.lastname@example.org. In order to process your withdrawal request in a quick and efficient manner, please refer to the following guidelines:
Funds can be transferred directly to your bank account by wire transfer or returned to your credit card. However, a withdrawal can only be made using the exact same method you used for depositing. For example, if you deposited using a specific credit card, your funds can only be returned to that same credit card.
Withdrawal requests are usually processed within three business days of receipt of all required documentation.
In order to withdraw funds from your account you must maintain your margin requirements in case you have open positions. If you request a withdrawal of funds from your account and we cannot comply without closing some part of your open positions, we will not be able to fulfill your request until you have closed sufficient positions to enable your withdrawal. Please Note: In compliance with international anti-money laundering regulations, NelsonFX is allowed to transfer funds only to a bank account or a credit card bearing your name which was used for your initial deposit. The credit card copies should be provided upon registration and approved by NelsonFX compliance department.
If I withdraw funds, how long does it take to receive the money?
We work hard to make sure your funds are transferred in a prompt and efficient manner. Regular money transfers normally take approximately three to six business days for approval; however, please keep in mind that there are several factors which might affect the speed in which your account is credited/ debited. These factors include, but are not limited to, the specific service you use to wire/ request funds.
Approved wire transfer withdrawals are forwarded to our bank on the day of their approval and are usually sent out from our bank on the same day. Wire transfers often make their way between several banks in several countries, and this can take a little longer, as foreign financial institutions usually require a few working days to remit funds around the world. Once processed, for any withdrawal via bank wire transfer or credit card, please allow up to 7 business days for the funds to reach your bank account. Please Note:
- In compliance with international anti-money laundering regulations.
- NelsonFX is allowed to transfer funds only to a bank account or a credit card bearing your name which was used for your initial deposit.
- The credit card copies should be provided upon registration and approved by NelsonFX compliance department.
Who can help me with questions about my account and/or withdrawal?
Your Account Manager is ready to help you with any questions you might have. To obtain a quick response, you can reach your Account Manager via email or telephone.
If your Account Manager is unavailable, our support team will be on hand to answer your questions. Rest assured that there is always a staff member available to take care of all your needs. Feel free to contact us anytime at email@example.com.
How do I open an account?
Designed with you in mind, opening an EasyForex.Pro account is easy. Simply click on the open trading account link and fill in the required information page.
Once your account has been successfully created, you will need to send verification documents in order to complete the registration process. These can be faxed, scanned or emailed.
As soon as your documents have been approved, you will be able to fund your account and begin trading.
I have registered but can’t login to my account. What should I do?
After registering, you will receive a welcome email with a verification link.
Please check your email and follow the link. If the verification link does not work, please try copying and pasting the link into your browser’s address bar.
If this does not resolve the issue, please contact the NelsonFX support team via chat or email at: firstname.lastname@example.org.
What documents are required to open a NelsonFX account?
In order to activate your account the following documents are required:
- An identifying document such as a passport, driver’s license or official ID
- Proof of Address such as a utility bill or bank statement (Must be no more than 6 months old)
Can my company open an account?
NelsonFX will consider accepting corporate accounts; however, corporate accounts will only be accepted after undergoing and passing a rigorous compliance process. If you are interested in applying, please contact email@example.com for further details.
Can I open a joint account?
Yes, for more information, please contact firstname.lastname@example.org.
How do I change my account details?
To change your account details, please contact your Client Relationship Manager or a member of our support team. You can email us on email@example.com.
Does NelsonFX charge any commission and/or trading fees?
NelsonFX DOES NOT charge any commission or fee as a result of your trading. NelsonFX is compensated for its services through the Bid/Ask spread.
Does NelsonFX deduct any amount from my account for tax pruposes?
NelsonFX does not deduct taxes from client accounts. It is the individual client’s responsibility to handle his or her own tax obligations in accordance with local law.
What happens to my to my open positions at the end of trading day?
All open positions are automatically rolled or swapped over to the next business day. Traditionally, all spot trades in the FX market are performed for a period of two working days (when the delivery of the transaction takes place).
Hence, in order to avoid the delivery of the trade, the positions are automatically closed for the original trade date and reopened for the next trade date. To give maximum advantage to our clients, the open and close rates of the rollover are kept the same as the open position rate.
A premium is then added or subtracted based on the difference in interest rate between the two currencies being traded.
Will someone manage my investments?
No. NelsonFX does not manage funds for its clients as this may create a conflict of interest. In order to remain 100% impartial, and always have our clients’ profit and interest in mind, we do not manage funds.
However, while you will be managing your own investments, you will be assigned a Client Relationship Manager to help you along the way.
What are your margin requirements?
NelsonFX clients can trade using a leverage of up to 500:1, depending on the asset they wish to trade and the trade size. Leverage of 500:1 means that a client is able to open a position, which is up to 500 times the size of his or her deposit.
For example, if a client has deposited $1,000 he or she will be able to open a trade up to $500,000 in value.
Is Forex/CFD trading risky?
It is worth keeping in mind that Foreign Currency & CFD trading carries a high degree of risk and may result in serious financial loss. Foreign Currency & CFD trading is not suitable for everyone. The high degree of leverage and volatility involved in Forex & CFD trading means that transactions can result in heavy losses as well as significant gains.
We recommend that you trade with extreme caution and care. For help and guidance, make sure to take full advantage of all our services and highly trained support team. We also have a comprehensive library of educational resources available on our website.
To help minimize potential losses, we also provide essential trading tools such as stop loss orders. However, such tools do not remove the significant element of risk that is involved in forex trading. To learn more about the risks involved with Forex & CFD trading, please visit the risk disclaimer page.
What hours can I trade?
Trading hours differ from instrument to instrument. Further information about the trading hours can be found here: https://nelsonfx.com/trading-tools/
Why do I have to fill questionnaire on the web page?
Broker follows the laws and regulations, which order him to process the identification and verification of his clients and to receive enough information from clients for monitoring ongoing business relationship of clients due to the Anti Money Laundering policy.
This information is necessary for verification whether the steps taken by the client are in accordance with the information provided and in accordance with the information evaluated by the broker.
How many trading platforms are available?
NelsonFX is offering 3 trading platforms:
- MetaTrader 4: take advantage of one-click, at-best order execution, advanced technical analysis and unmatched automation capabilities!
- MT4 WebTrader: a user friendly web platform, which synchronizes all trades with your MT4 account.
- Mobile &Tablet Trader: a tablet and mobile optimized trading platform fully synchronized with your MT4 account.
To learn more about the trading platforms, please visit the Trading Platforms page.
What are the recommended systems for trading?
The recommended PC requirements are: Computer:
- Processor: Intel Pentium IV 3.0GHz
- Memory: 512 MB RAM, or higher
- Monitor: A minimum resolution of 800×600 pixels
- Operating system: Microsoft Windows XP, Windows 2000
- Web browser: Microsoft Internet Explorer 6.X
- Internet connection: Broadband internet connection with a min 1.5 MB download speed Note: Systems that do not meet these requirements may experience limited functionality.
What is stop out/margin call?
Margin call is at 60% of margin level. If you reach margin call, then you will be addressed either to close some of your open positions or make deposit to strengthen your current open positions.
Stop out is at 40% of margin level. If your margin level decreases to 40%, your positions will start automatically closing. First are always closed positions with the highest loss.
What is a Trailing stop?
A Trailing Stop is a stop-loss order that automatically adjusts itself as the market rate moves in the direction of your open position. The trailing price literally trails behind rising prices, allowing you to capture more profits while ensuring that if prices suddenly drop you are still protected by the automatic Stop-Loss order.
Important Note for MetaTrader 4 Platform: Since Trailing Stop works on the client terminal side, unlike Stop Loss and Take Profit that work on the server side, it won’t work if the client terminal is closed.
If the client terminal is closed, only Stop Loss that was placed by Trailing Stop before the terminal was closed can trigger.
What is Forex?
In short, the Foreign Exchange market, also referred to as the “Forex” or “FX“ market, is the largest and most liquid financial market in the world, with a daily turnover volume of roughly 4 Trillion US Dollars. Forex trading is the buying and selling of one country’s currency against another. To learn more about the Forex market, please refer to the Education page.
What is spread?
The spread is the difference between the bid price (selling price) and the ask price (buying price). Example: If the quote for the EUR/USD pair is 1.2910 against 1.2913 then the spread is 3 pips.
What is Pip?
Pip is an acronym for Price Interest Point. This represents the smallest value of measurement for Forex currencies.
How does a Stop Loss order work?
Stop Loss orders are used to reduce risk by closing a losing trade once a market passes a trigger value pre-determined by the trader. NelsonFX will do its best to fill your trade at the price requested.
However, because the order will close your trade at the best available price once activated, the Stop Loss is exposed to a gapping market. For the sake of absolute transparency, this means NelsonFX cannot guarantee a Stop Loss.
When is the forex market open for trading?
The Forex market is open for trading 24 hours a day, five days a week. The market opens on Sunday evening at 22:00 GMT when Asian markets open, and concludes on Friday night when the New York markets close.
What is rollover?
A rollover is when interest is paid or deducted from open positions. Trading currencies always involves two different currencies with their own individual interest rate. When you buy a currency that has a higher interest rate than the sold currency, you will be paid interest.
However, when you buy a currency with a lower interest rate than the sold currency you will pay interest, and money will be deducted from your account. A rollover applies only to overnight trades.