There is a possibility that FXGT accounts may be frozen or become dormant during trading, so we will explain how to use them and the causes in this article. Forex companies often have terms of service in place to prevent users from engaging in malicious behavior, but some users do so, resulting in their accounts becoming dormant, or in the worst case scenario. may be frozen. In what cases is this the case?
Is there a real possibility that the account will be frozen?
Even if you deposit funds after opening an account, if your account becomes frozen or dormant, you will generally not be able to trade. However, there are differences between frozen and dormant accounts. First, let me explain about frozen accounts. Frozen accounts are a measure taken when you do not follow the rules and commit a violation. Please refer to the following article for details on violations. There is a possibility that you may be subject to fraudulent acquisition of bonuses. If you are a new user, please check the terms of use from the home page. We will teach you according to your purpose. There are strict regulations because we also have a financial license.
both houses
Please note that if you are using double-denominated trading between multiple companies or by acquiring multiple accounts yourself and holding positions between the accounts, this may lead to a violation of the terms and conditions. There are cases where this could be considered malicious use of the system, so the best solution is not to do it. Doing this may result in denial of earnings. There may also be cases where the resumption of trading is refused.
Automatic trading (EA)
Opening an account and using funds for automated trading (EA) is not prohibited. Many people operate multiple accounts on VPS, etc., and MT4 is suitable for automated trading. However, using illegal bonuses and other rewards is dangerous. In addition, automated trading programs are based on periodic logic, so there is a high risk of loss. Consider the worst case scenario and decide on the lot size based on the situation and the relationship with economic indicators. Residents should fully understand their intentions when starting out and operate these. Regularly review your environment.
scalping trade
Even on the official website, scalping trades are not specifically prohibited. Zero cut is also adopted, so it is safe. There were no problems when I asked support for detailed information. Trades are made one by one from the platform at regular intervals, so be careful of the connection. There have been no penalties against assets in the past for currency pairs, so you can use any amount at any time without any upper limit. Even professionals place orders from the tool.
Is there really a possibility that the account will become dormant?
On the other hand, there is something called a dormant account. This generally occurs when an account is opened but left for a certain period of time. If there is no balance and 30 days pass without logging in or making a transaction, the account will be converted to a dormant account. And if the account is converted to a dormant account in this state, you will not be able to log in. It will essentially be frozen. Make sure you understand how financial services manage it before doing this. If you have any questions, you can ask support.
Leave with balance
What happens if the account is left unattended while there is a balance in the account? Generally, after 90 days, your account will become dormant, after which a monthly maintenance fee of $10 will be deducted. As long as there is a balance, the account maintenance fee will be charged, so leaving it unattended is dangerous.
What happens if an account is frozen or dormant?
Next, let’s talk about what happens when an account becomes frozen or dormant. Generally, the situation will be as follows. Basically, it will no longer be possible to continue responding to requests for contracts and payments. If you don’t actually have prior knowledge, you won’t know how to revive. So, to prevent freezing again, please check the FAQ and terms and conditions.
Cannot login
If your account becomes frozen, it will be treated as an inactive account and you will not be able to log in. The user is unable to do anything as it is effectively blocked. This means that you will not be able to make deposits or withdrawals.
bonus disappear
If an account is frozen, all bonuses on the frozen account will be forfeited. The timing at which the bonus disappears depends on whether or not there is an account balance. If there is a balance, the bonus will disappear after 30 days of neglect. If there is no balance, the bonus will expire after 30 days.
Account maintenance fee
As explained above, if you leave your account with a balance for a long time, it will be treated as dormant and you will be charged an account maintenance fee. There is a monthly account maintenance fee of $10. If you do not trade, withdraw once and set the account balance to 0.
How to unfreeze your account
We will show you how to unfreeze your account. However, it is not always possible to unfreeze an account 100% of the time. Users who commit malicious acts will never be able to lift their sanctions again. In the worst case scenario, you will be banned and will not be able to create an account again. There is a high risk of penalties from management.
inquiry
It is not possible to unfreeze an account manually. Please contact the support center because analog correspondence is required. If you have not violated our terms of service, we will immediately unfreeze your account. In other words, it is up to you to unfreeze your account.
Open additional account
If your account is frozen, you can open a new additional account and trade without any problems. However, this is an absolute condition that there are no problems. If you violate the terms of service, you will not be able to open an additional account, so you will need to open a new account with another company. However, they must have the same name and IP address. It is no good to intentionally share a live account with family members.
How to cancel a dormant account
Here’s how to unlock a dormant account. If you leave your account with a balance for 90 days, it will become a dormant account and a monthly account maintenance fee of $10 will be charged. This hurts a lot so please try to get your hands on it sooner rather than later. By releasing the dormant state, you will be able to trade again. Deactivating a dormant account is very easy. If it is a dormant account, logging into MT5 will automatically release the dormant state. In short, all you have to do is log in.
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