FAQ

  • How can I fund my account?

    CoinsFM currently accepts wire transfers, credit cards (Visa/Master) and most third-party payment providers. We are always adding more choices for you, If you do not see the method in which you would like to use, contact our customer support team.

  • What currencies can I hold in my account?

    CoinsFM offers multiple funding currencies for our accounts which include AUD, USD, EUR, GBP. For any other type of currency please contact our support staff who will kindly assist you.

  • How fast can my deposits be posted to my account?

    This all depends on your payment method. Most credit cards and many third party provider services are posted within minutes. Wire transfer and other payment methods can take several days. Please check with customer services if you have any questions.

  • How do I make a withdrawal?

    If you’re withdrawing for the first time, it is likely that we’ll need to verify your identity. This is normally done by re-sending a copy of a government issued photo ID such as a driver’s license, proof of age card or passport from your primary email address, along with a filled and signed withdrawal request form. For future withdrawals, all you’ll need to do is just send an email to [email protected] from the email that we have on file along with your account number and withdrawal amount to inform us.

  • How long does a withdrawal take to be processed?

    The inhouse processing of withdrawals is automated and is usually done within a few hours if all your paperwork is in order. Wire Transfer Withdrawals normally takes up to 2 business days to arrive if all the necessary information is provided. Credit card refunds up to the net aggregate amount of the deposits can be made which can take up to 5-15 business days depending on the banking institution for your credit card processor.

  • Are my funds secured?

    CoinsFM is legally required to preserve liquid capital that is sufficient to cover all client financial activities. Investor funds are insured and held in segregated fiduciary bank accounts that can only be used for client payment. These funds exist of the company’s balance sheet and cannot be used to pay company expenses in the improbable case of bankruptcy.

  • Do You Charge Any Fees For Deposits?

    A – The Company may charge for incidental banking-related fees such as wire charges as the Company may from time to time charge to the account, and all other charges (including, without limitation, overnight interest debts, statement charges, account transfer charges, and other charges) and fees (including, without limitation, fees imposed by any bank).

  • How long does the withdrawal take to be processed?

    A- Within Ten to fifteen (10 – 15) Business Days from the date of receipt of Client’s written request and its approval by the Company.

  • What Is The Minimum Withdrawal Amount?

    A – The minimum withdrawal amount for funds deposited using credit/debit card is 10 USD (or the same absolute amount in an alternative currency) and the minimum withdrawal amount for funds deposited using wire transfer is 30 USD (or the same absolute amount in an alternative currency). For more comprehensive information regarding withdrawals, please read our terms and conditions document provided on the website.

  • What deposit methods do you accept?

    A – we accept Wire Transfers, Credit Card Payments and cryptocurrency payment methods.

  • How to open a live trading account?

    Just click on the open account button and follow an easy step by step process which you should be able to complete in just a few minutes and in no time, you will be trading live. Once you have filled out the required information, you can make your initial deposit.

  • How soon can I start trading?

    In most cases you will be able to start trading as soon as your deposit is posted. This depends on how you make your initial deposit. Many methods are posted almost instantly. The account verification process may take up to 1 business day if we require additional documents or if you’re opening a corporate or trust account. If your account is already verified, you’ll be able to start trading as soon as the account is funded.

  • Can I have multiple accounts?

    You can have multiple accounts but you need to contact our customer support staff who will assist you to create the proper accounts.

  • What is the minimum opening deposit?

    The minimum opening balance is 250 in the base currency.

  • Do I need to download software?

    Our advanced WebTrader platform does not require any software to run and can be used on any browser and mobile.

  • Can I trade on my mobile device?

    Yes, You can trade all of our assets and use all order types on your mobile device.

  • Where Do I Complete My Account Verification?

    A – To complete your account activation please log in to your account, click on the “Deposit”-button and then on the “Documents (KYC)”-tab. Read the document requirements and upload your account verification documents.

  • How Long Does It Take For My Account To Be Verified?

    A – We do our best to process clients’ verifications as soon as it’s been submitted. Please expect your account to be verified within 48 hours from providing your documents.

  • I forgot my password can I get a new one?

    Locate the “lost password” link near the “sign in” button and follow the steps. You can get a new password following these steps or you can contact customer support by phone or email for assistance.

  • Can I change the leverage on my account?

    You can send an email to [email protected] clearly stating your account number, account name and your desired leverage so we could further inspect.

  • Can I change the currency value in my account?

    You may but this is an involved process and requires the direct assistance of the customer support desk. Please contact them. You can also open a second account in an alternative currency.

  • Can I manage and trade my spouse’s account?

    You can if your spouse has given you the authority and the passwords so that you can trade. In most cases if you need to contact us, the account holder will be required to verify your status.

  • Can I change my account type?

    You can always upgrade to a higher level account. Please contact customer support or your account manager for assistance.

  • Can I open more than one account?

    A – It is possible, however we do not recommend this. If you wish to create more than one account due to depositing in different currencies then you will need to contact our customer support staff who will happily assist you in creating accounts that will best suit you.

  • Can I change/update my personal details?

    A – Yes, this is done by going to your profile, changing the relevant details and clicking on “Submit”. Please note that some changes may require you to submit new KYC documentations to support the changes.

  • How can I change my password?

    A – Go to your Personal Info section on the “My Account” tab, Thereafter tick the box on the lower end of the page that states “Change Password?” and “Submit”

  • Do you offer education features?

    A- Yes we do. Our academy education department is booming with agents who understand and excel in cryptocurrency trading. Your account manager will refer you to one of our agents in order to receive the knowledge to trade like a pro by understanding analytical tools and markets.

  • Do We have Customer Support?

    A- Yes, we have a customer support department which prides themselves on giving our clients the best customer support experience possible. You can easily contact us through our Live Chat option on the website, our customer support email or the customer support phone number, which are provided on the lower half of all our website pages.

  • What documents do I need to provide?

    A valid proof of residence document is any recent utility bills, local authority bills, credit card or bank statement from within the last 3 months, where your name or entity type and residential address can be clearly verified. Alternatively, a valid Government license showing your full name and address, keep in mind that if your address is on the back of the card then we will need a copy of the front and back of the card. We are following the rules set by the government and international laws as well as the regulator.

  • Why do I have to supply all this background information?

    International law requires that we verify your identity and the regulator requires that we verify your experience and understanding of the risk in trading as a protection for you. We run a suitability test in order to evaluate whether our products are appropriate for you. We are required by law to run this test for every new client under our current regulatory environment.

  • Are my deposits safe?

    Your funds are held with an approved top tier bank in Australia. CoinsFM in accordance with regulations, hold client money at a nominated account separate to CoinsFM money from client money. Client money is paid into the CoinsFM segregated account and can only be used as permitted under the strict client money provisions. All funds are dealt with according to the guidance of the Client Money Rules under the Corporations Act.

  • Are the payment methods secure?

    A – Yes

  • What are the different Types of Accounts offered?

    A- we offer four account types for our users. Each one of these four accounts stated consists of a
    designated account manager which assists with handling the client’s account. For more information click on the “Account Type” tab.

  • What does an account manager help with?

    A- The account manager is a professional who is hired to assist clients with activating and
    managing their accounts. This account manager is not permitted to engage in any
    deposits or withdrawals from the account. Being appointed an account manager does
    not prevent the owner of the account from viewing their balances whenever he/she
    wishes to or even to obtain a full overview or adjustments to the funding of the account.
    An account manager is strictly hired to assist a trader who is using the platform itself.

  • What is Scalping?

    A- When you (the user) engages with the Trading Platform to facilitate unfair trading practices and/or trade in an abusive way in which the user closes a position less than 5 (five) minutes from its opening whether manually, by pending order or any other way. When you are engaging or have engaged in trading practices, strategies or activities that are designed intentionally to exploit errors in price quotations can be considered as trading patterns also known as lag trading and/or usage of server latency, price manipulation, trading outside market then current price, time manipulation or any other practices which are illicit and/or are utilized to give Client an unfair advantage or which the Company considers at its own discretion as inappropriate and outside the scope of the terms & conditions.

  • What are the repercussions of Scalping or engaging in unfair trading practices?

    A- The company may, upon notice to the client, in addition to any other measurement, suspend and/or freeze and/or set trading restrictions and/or deposit or withdrawal limitations and/or close the account and any other account associated with the client, adjust the balance in the account, eliminate trading incentives and/or terminate this Agreement.