Frequently Asked Questions
IFT Accounts
Who is BizFOREX's banking partner for the IFT Platform?
All client funds are deposited in a major financial institution. (Top 50
World Bank)
Do I have to live in the U.S. to open an account?
No. IFT clients do not have to reside in the United States to open an account
with BizFOREX. However, BizFOREX currently handles only US Dollar deposits. In the
near
future, BizFOREX will offer multi-currency accounts.
Can I deposit funds in
any other currency other than US dollars?
In order to open an account, interested parties must complete the customer
application, customer agreement, account information and risk disclosure forms.
Once this process is complete, customers will be given instructions on how to
deposits funds into an account. Accounts can be opened online or by printing
the forms and mailing them to BizFOREX. For mailed in applications, all original
documents must be included. Visit IFT
accounts for further information and application forms.
What is the minimum account balance?
The minimum deposit
for opening an account with BizFOREX is US$ 3000.00 only.
How do I get money out of my account?
Do I pay interest on my account when there is a margin call?
When a trade is closed, whether via the trader's actions or the platform executing
a stop-loss, profit-take or margin call, the associated interest rate differential
will be applied against those trades.
Can I settle trades with a counter party?
The IFT environment is for speculation or investment purposes only. All
transactions are round trip back to
the customer's own account.
Can I set up a multi-currency account?
BizFOREX will offer multi-currency accounts in the very near future.
What does it mean if my account is restricted or locked?
If your account is flagged due to potentially unauthorized activity, your account will be
placed on restricted status. Restricted accounts are limited in their ability to deposit and withdraw funds.
Once an account is flagged as restricted, BizFOREX will require you to provide further
information to confirm your IFT identity.
