Answers to common questions
Answers to common questions
Top Frequently Asked Questions
We operate under the Financial Conduct Authority regulatory FCA (registration number: 11077380) in UK, Dubai Financial Services Authority (DFSA) (Reference Number: F006508 ), and under Financial Services Authority FSA (registration number 138 LLC 2019) in Seychelles and is registered under FSA in Saint Vincent and the Grenadines under registration number 138 LLC 2019.
Our global offices are in London, Limassol, Kuala Lumpur, Dubai, Sierra Leon, Bogota, Sofia, Vietnam and Lebanon.
Create your Account, download one of our trading platforms of your choice, open and fund your wallet and start your trading journey.
To create an account, whether it is a live account or a demo account, kindly open our website https://www.zenfinex.com/ar-en/ and choose login, or access directly https://cp.myzencrm.com/ – our client portal. Choose between “Get Started’’ to create a live account or ‘’Create Demo Account’’. Fill in the onboarding application with your personal and financial information and submit the required documents by uploading a proof of identity and a proof of address (an official document with your full name and address dated less than 6 months).
You can log in to your account through client portal which you can access through our website https://www.zenfinex.com/ar-en/ or directly via https://cp.myzencrm.com/ . Write your username (your email address you have opened the account with) and your password (previously set when opening the account).
Upon finalizing the onboarding process and submitting valid documents, your account will be active within 24 hours.
The required documents are Proof of ID (Passport or National Identity) and Proof of Residence (Utility Bill, official Bank Statement, with full name and address)N.B: The required documents may vary depending on the risk exposure of the country in which the customer resides.
In order to reset your login details, head to the log in page via https://cp.myzencrm.com, click on ‘Forgot Username / Password’, write your email address with which you opened your account, click on ‘Reset Password’. You will receive an email with a link; click on the link and it will drive you again to the portal where you write again your username (email address) and type a new password of your choice.
We offer three types of accounts:
At Zenfinex, our clients can trade as low as 0.01 Lot.
At Zenfinex, we give our clients a wide variety of payment methods – such as wire transfer, payment cards (debit or credit cards), e-payments – depending on the country’s jurisdictions where they are located.
For more information, please visit “Deposit Withdrawal Fees” https://www.zenfinex.com/ar-en/accounts-ar-en/deposit-withdrawal-fees-ar-en/
There is no cost associated to deposit funds to your trading account.
Withdrawals are processed back to the same methods used of deposit and are processed within 24 hours. Some withdrawals may take up to 7 working days to reach the beneficiary depending on the bank’s processing speed.
To fund your wallet and start trading, you kindly need to make a deposit following the below steps:
Following, your deposit request is submitted and initiated for us to execute within a short period of time depending on the payment method used.
You should receive a confirmation email with the deposit details. In case you didn’t receive an email from us, please be sure to check your Spam, Junk or Others folders in your email inbox.
Depending on your deposit method, if made via e-payment, your deposit should be reflected on your portal immediately while payment cards would take up to a few minutes. However, a wire transfer might take up to 7 working days depending on the concerned banks processes. You should be updated via an email indicating the status of your deposit. If you have not received any, please email us at [email protected]
To withdraw your available funds, please follow the below steps:
P.S. Don’t forget to transfer the funds from your trading account to your desired Wallet before initiating your withdrawal request. (Go to: Wallet→ internal transfer → Choose the trading account you want to transfer from and the wallet you want to transfer to).
Following, your withdrawal request is submitted and initiated, will be executed within a short period of time depending on the payment method used.
You should receive a confirmation email with the withdrawal details. In case you didn’t receive an email from us, please be sure to check your Spam, Junk or Others folders in your email inbox.
We do offer a leverage up to 1:500. For more information, please visit our account types section on https://www.zenfinex.com/ar-en/accounts-aren/ .
If you have a special request to change the leverage on your account, you can contact us directly.
The spread is the difference between the buy and sell price and is usually the transaction cost when placing a trade. When a trader buys at the market price, they are buying on the ‘ask’ price which is higher than the ‘bid’ price. Alternatively, when a trader sells at the market price, they are selling on the ‘bid’ price which is lower than the ‘ask’ price. The difference between the two prices is the ‘spread’. To see an example of Zenfinex’s industry-leading spreads click https://www.zenfinex.com/ar-en/why-zenfinex-ar-en/spreads-commissions-ar-en/ You will also see spread examples and calculations of spread transaction costs featured on this page.
We offer tight spreads on most available instruments. You can find more information under the “About” “Spread and Commission” section.
Margin is a good faith deposit required to maintain open positions. In simple terms, it is a portion of your account equity set aside and allocated as a margin deposit. Is not considered a fee or a transaction cost. Margin requirements (per 1k lot) are determined by taking a percentage of the notional trade size plus a small cushion. A small cushion is added to help alleviate daily/weekly fluctuations.
It depends on the broker, regulations, and country. For instant, Zenfinex offers a leverage that goes up to 1:500 meaning margin up to 0.2% in Mena Region and it is about 3.33% of the notional position size for UK. For example, for Mena customers, if you place on MT4 a 0.10 lot EUR/USD position size and the pair is trading at 1.2000. The notional volume of this position is calculated as follows: 10,000 X 1.2000 = $12,000 USD. Then $12,000 X 0.2% = $24 USD is the margin required for this position. It varies depending on each currency pair, MT4 does the calculation for you, you can check how much margin is required on the margin field on your open positions within the terminal window on MT4.
A Margin Call is a possible event in which a trading account is having losing positions that put him/her on the verge of entering a negative balance in his/her trading account. In order to prevent such a turn of events, a margin call occurs. This is where some of the trader’s open positions are being automatically closed, MT4/MT5 automatically closed the biggest losing position thus preventing him from entering debt.
The biggest losing position is closed, leaving some free margin available for the trader to continue managing the exposure. Margin calls on the Trading Platform are triggered when the margin level reaches 100%. Margins calls often occur due to overleveraging. Using more leverage can magnify your gains, but it can also magnify losses which will quickly deplete your usable margin. The more leverage you use, the faster your losses can accumulate. When you use excessive leverage, a few losing trades can quickly offset many winning trades.