Apex FAQ

1- Who is Apex?
2- What are your commissions and fees?
3- Why should I trade with Apex?
4- Is there a difference between the free demo and a real Apex account?
5- What other services does Apex offer?
6- How do I open an account with Apex?
7- How much money do I need to open an online account?
8- What is Margin?
9- What are your trading hours?
10- What happens to my open positions at the end of the trading day?
11- What security does Apex offer?
12- What do I need to do to experience Apex's trading platform?
13- Can I trade with Apex if I am not using my main computer?
14- Can I place orders over the phone?
15- What are the minimum requirements for Internet connection speed?
16- Which operating systems are supported?
17- Why does the message "Access denied" appear when I try to connect?
18- How can I fund my account?

 

1- Who is Apex?      top

Apex offer Internet-based Forex (FX) trading to private investors, institutional investors, and money managers. We are dedicated to bringing FX traders equal access to the best dealing prices possible on all major currencies. Our mission is to give all sized investors 24 hour FX trading with the tightest Interbank spreads (three to five pips or less on all major currencies). At the same time, Apex provides clients with as much fundamental and technical information as possible in order for them to make valid decisions.

2- What are your commissions and fees?       top

When trading with Apex you will be charged commission. Because of the mass-market nature of the Web, and the fact that Apex's services are offered online, operating costs are kept low so that Apex can pass these savings onto our clients. Prices are quoted inclusive of our dealing spreads, which are always 4-5 pips or less on all major currencies, including US Dollar, British Pound (Sterling), Japanese Yen, Euro, Swiss Franc, as well as the major cross rates. Note - quotes may be requested for the Canadian Dollar, Australian Dollar and New Zealand Dollar (Kiwi), but the dealing spread may be more than 5 pips.

3- Why should I trade with Apex?       top

The two main benefits Apex offers over competing online FX brokers are (1) the ability to deal directly from real-time bid/ask quotes, and (2) the unparalleled professionalism and customer service provided by our team of experienced FX professionals. See Client Benefits for the additional benefits that we offer.

4- Is there a difference between the free demo and a real Apex account?       top

The only difference is that the computer executes demo trades while actual dealers execute funded account transactions. The demo is fully functional, uses the same software as real trading accounts, and allows potential traders the ability to trade directly from the same price quotes as real accounts. Apex recommends that all perspective clients experience our platform first hand.

5- What other services does Apex offer?       top

Apex's dealing software provides each client with a wide range of trading tools, including technical analysis and charting, real-time news feeds, real-time profit and loss analysis, and full back office capabilities. Apex's market professionals will also provide daily FX commentary. Finally, account statements are sent at the beginning of each month, and list a summary by currency and value date of all current open positions, and account balance as calculated at the close of business on the last business day of the month.

Apex also offers a solution for those investors with risk capital who do not necessarily want to trade on their own. Apex offers our clients some of the finest managed Forex accounts in the industry, and is able to easily match appropriate clients to the proper managed account. In the Managed Accounts section we provide more detailed information on our Managed Account services.

6- How do I open an account with Apex?       top

To open an Apex trading account complete the trading agreement at open an account . Once Apex has received your forms, Apex will Email you the exact type of account documents that you request in order to meet your specific needs. Complete, and sign the new account documents, and then return the appropriate pages to us.
Apex FX Trading
4810 w. Lake St
Chicago, Illinois
Zip-code 60644
Phone: 011962-6-5519819
OR
Phone: 011962-6-5519820
Fax: 011962-6-5519824
Once we have received your documents and a minimum deposit of at least $2,000, Apex will Email you downloading instructions for your trading account software, and one of our customer support representatives will contact you with an account number, User ID, and password. Simply follow the download instructions for the software; open it by clicking the Apex shortcut button, log on and you're ready to trade. In addition to allowing you trading access to your account, your User ID, and password will also allow you to navigate freely throughout our entire website.
Deposits can be made either by check (sent courier/post to the address indicated above) or bank wire (wiring instructions are included in the account documents). We recommend that you select either a courier or wire the money directly to our Customer Segregated Funds Account. This way every step of the transfer process can be easily tracked and monitored.

7- How much money do I need to open an online account?       top

The minimum deposit to open an account with Apex is $500. Apex's minimum transaction size is 10,000 from the base currency, with minimum margin deposit of $100 (at 100:1 leverage) for intraday positions.

8- What is Margin?

Margin is essentially collateral for a position. If the market moves against a customer’s position, Apex will request additional funds through a "margin call". If there are insufficient available funds, Apex will immediately close out the customer’s open positions.

9- What are your trading hours?       top

Apex trading hours are from 4:00 PM Sundays through 5:00 PM EST on Fridays. Apex's customer support representatives and traders are available 24 hours daily from Sundays 7:00 PM to Fridays 4:00 PM , including most U.S. Holidays.

10- What happens to my open positions at the end of the trading day?

Unless specific settlement instructions are provided, Apex will automatically roll forward all open positions to the next day's value date at the end of each business day, 5:00 PM. All rolls will be done at zero rollover rate, and no interest will be charged for any currency pairs involved.

11- What security does Apex offer?       top

When you open an account with Apex, a customer support representative will contact you with your account number, user ID, and password. All Internet deals can be traced back to your computer through the user ID, and password. For phone trades, you will be asked to supply your user ID, and password before placing any orders.

12- What do I need to do to experience Apex's trading platform?       top

You have two choices, either open an account, or register for free access to a fully functional demo account.
Open a Live Account
For Apex trading accounts simply complete our Traders Agreement forms By filling out the Appropriate information for specific needs Once Apex has received your forms, Apex will Email you the exact type of account documents that you request in order to meet your specific needs. Complete, and sign the new account documents, and then return the appropriate pages to us via fax at 962-655 19816.
Once we have received your documents and a minimum deposit of at least $500, Apex will Email you downloading instructions for your trading account software, and one of our customer support representatives will contact you with an account number, User ID, and password. Simply follow the download instructions for the software; open it by clicking the Apex shortcut button, log on and you're ready to trade. In addition to allowing you trading access to your account, your User ID, and password will also allow you to navigate freely throughout our entire website.
Deposits can be made either by check (sent courier/post to the address indicated above) or bank wire ( wiring instructions are included in the account documents). We recommend that you select either a courier or wire the money directly to our Customer Segregated Funds Account. This way every step of the transfer process can be easily tracked and monitored.
Demo Account
To get started With a demo complete and submit an online demo account registration form. Once Apex has received your registration form, Apex will automatically Email you downloading instructions for the demo account software accompanied by your demo User ID, and password. Then just follow the download instructions for the software; click on the Apex shortcut button to open it up and you'll have full access to our free demo trading platform.
It is important that you either remember or save your demo User ID, and password. It will allow you to navigate freely throughout our entire website.

13- Can I trade with Apex if I am not using my main computer?       top

You may trade with Apex from any computer with an Internet connection. Simply log on to Apex's website using your trading account User ID and password and then click the "download trading platform" button. This feature will automatically start the software download to the computer. Once the download is complete, simply open the software, login and you're ready to trade. If you are traveling or do not have access to a computer with an Internet connection, you may execute trades over the phone with one of Apex's experienced traders providing 24 hour customer support.

14- Can I place orders over the phone?       top

Absolutely. When trading via the phone, you will have access to the same experienced Apex dealers as when you trade over the Internet. You must provide the dealer with your user ID and password. All conversations regarding customer's account(s) between customer and Apex personnel may be electronically recorded with or without the use of an automatic tone-warning device. This is to ensure the safety of both parties.

15- What are the minimum requirements for Internet connection speed?       top

We recommend a connection of 56K bps or higher. 28.8K modems are acceptable, but you may experience slightly longer response times.

16- Which operating systems are supported?       top

Windows 95, 98, 2000, Me, NT 4 and XP.

17- Why does the message "Access denied" appear when I try to connect?       top

Double check to make sure that you have entered the correct User ID, and password by reentering them. Once submitted, if this does not work contact an Apex Customer Support Representative.

18- How can I fund my account?       top
You can fund your account by wiring to:

JORDAN KUWAIT BANK

Al-Abdali Branch

APEX FX TRADING L.L.C.

A/C No.: 323096002

Swift Code: JKBAJOAM

Amman, JORDAN.