Questions regarding your funds

As a Cypriot Investment Firm, we are a member of the Investor Compensation Fund (ICF). This Fund has been put in place in order to secure the claims of Covered Clients against Cyprus Investment Firms. Client’s claims for compensation may be exercised through the Fund, following the failure of a member firm to do so. It means, that thanks to our ICF membership, you are protected in the very unlikely event of the company’s insolvency.

No. We ensure that the maximum loss that you can encounter, at any point in time, cannot exceed your available balance. This mean that you are not liable in any way for a negative account balance, which may be caused by a rapid and violent market movement. Because the maximum risk associated with trading is limited to the equity gathered on your account, you cannot lose more money than you have invested and therefore you cannot get into a situation where you would owe any money to the Company. You can find more information regarding the Negative Balance Protection in our Terms and Conditions of Use.

There are no fees for registering and opening an account with us. We will not charge you a monthly fee for owning an account either, however, you should keep in mind that there are some charges related with trading, transferring money and inactivity.


Costs related with trading:

Spread – When you open a transaction, spread is automatically charged, which is why your transaction opens with ‘a minus’. Spread which includes mark-up (if applicable), is the difference between the BUY and the SELL price and it can vary between different financial instruments; its size depends on the type of the Account Type held by you and the market conditions. Keep in mind that, since we offer floating spread, it can widen or contract at any time, without a warning.

Commissions – Commission is only charged on the Platinum account, and it equals 1.2 pips per each closed lot.

Overnight Financing / Swaps - The swap is the interest added or deducted for holding an open position overnight. Swaps are charged in the form of points or monetary terms depending on the financial instrument, and are based on market interest rates, which may vary from time to time. Depending on the position held and the interest rate of the currency involved in the Transaction, you may either be credited or debited with financing. On Mondays, Tuesdays and Thursdays, swaps are charged once every working day. On Wednesdays and Fridays (depending on the product) swap is charged in triple size. You can view all swaps in your MT4 Terminal.


Costs related with money transfers:

Transfer fees may be charged by certain payment providers, however commissions for deposits and/or withdrawals are never charged by us under no circumstances. To find more information regarding the commission charged by the payment providers, visit our Deposits & Withdrawals section.


Costs related with the lack of activity:

In the event that there is no activity (trading/withdrawals/deposits) in your trading account for a continuous period of 90 (ninety) calendar days, such trading account will be considered to be dormant. Dormant Accounts will be charged with a monthly dormant fee of EUR 30 (or the equivalent in the Account Currency) or the full amount of the free balance if the balance is less than EUR 30. There will be no fee if the free balance is in the Account is zero.

To deposit funds to your trading account, you need to log in to your Members Area and click on ‘Deposit Funds’.

You can find detailed instructions of this process in the Deposits & Withdrawals section available on our website.

No. We do not accept any third-party deposits, which means that to make a deposit to your trading account, you have to use a credit card registered under your name and/or deposit via bank transfer from the bank account that belongs to you, and/or use an e-wallet that is open under your name.  Please keep in mind that, if any deposit from a third-party, does arrive to us, we will immediately send the money back to the same source, via the same payment method and remitter used to conduct the initial deposit.

No. We do not accept any cash deposits. Please keep in mind that cash deposits are associated with a high money laundering risk, so if you wish to deposit any money to your trading account, you can only do so in accordance with the payment instructions provided on our website.

The amount of time required for your funds to be credited to your trading account depends on the payment method chosen by you to make a deposit. Bank transfers may take up to 5 working days, while credit card payments and deposits done via e-wallets are usually instant. For more information, check out the Deposits & Withdrawals section available on our website.

As a new Client, you will be able to withdraw your funds once you have provided us with all the required Verification Documents and received the confirmation from us that your account has been verified. As an existing Client, you can withdraw your funds at any time as long as all your documents are up to date (if any of your documents expire, we will simply ask you to provide a new, updated copy). Please keep in mind that if you have any open positions at the moment of your withdrawal request, we will proceed with this request only if the withdrawal of funds from your account does not cause the margin level to drop below 100%.

To withdraw funds from your trading account, you need to log in to your Members Area and click on ‘Withdrawal’. 

You can find detailed instructions of this process in the Deposits & Withdrawals section available on our website.

No. We are obliged to follow strict anti-money laundering regulations. Therefore, you can only withdraw your funds to credit card, e-wallet or a bank account which has been used by you to carry out the initial deposit.

All funds considered as initial deposit are typically returned to the same source, via the same payment method and remitter used to conduct the initial deposit. All funds considered as profit can be returned separately into your bank account, regardless of whether you have deposited via bank transfer or not.

Upon receiving your withdrawal request, we will proceed with the payment either on the same day or on the next working day (depending on the time you placed your request). Please keep in mind, however, that the time needed for your funds to reach you may vary, as it depends on your selected payment method. You can find detailed instructions of this process in the Deposits & Withdrawals section available on our website.

You are eligible for a refund if you deposited money to your trading account, but you have not opened any transactions yet. In this case, your money can be refunded even if you have not provided us with any Verification Documentation, however certain payment providers (i.e. Przelewy 24) do not provide us with all the necessary information regarding the origin of funds and in such cases, in order to proceed with the refund, we will ask you for a bank transfer confirmation with detailed information of your deposit. If you wish to refund your money, please send your request via e-mail to support@nessfx.com.