FXwiz (Forex Wizard, Inc)
FXwiz making money even if they do
not charge fees to the customers?
going to happen if FXwiz gone
support of FXwiz
I need the
translation of the trading
help me by phone calls?
trade because of internet problem.
Can FXwiz help me?
necessity to contact with FXwiz?
afraid that the trading condition might
change in case of opening account
Why is the
risk higher on higher leverage?
the spreads of interbank trading?
Regarding FXwiz (Forex Wizard, Inc)
１． How is FXwiz
making money even if they do no change fees
to the customers?
（Answer） We do charge fees on FCMs even
though we do not charge fees to our
customers. Most of the FCMs are happy
to pay us some rebates based on the volume
of trading by the customers.
going to happen if FXwiz gone bankrupted?
（Answer） As we are not FCM, we do not touch
the fund of the customers. Even though
the clients are registered as the clients of
Forex Wizard Inc, we have no right to touch
the customers' funds. Therefore, we
cannot process any withdrawal or transfer.
Even if we are bankrupted, the customers'
funds are sage with FCMs as long as FCMs are
Regarding the support of FXwiz
１．I need the
translation of the trading agreement.....
（Answer） We do not translate the trading
agreement. However, we do
explain the points which our clients
dont understand and we do translate the
account opening materials such as the proof
of present address.
２．Can FXwiz help me by
（Answer） We support our customers by E-mails
or by online-chat because of the following
We never solicit
It is easier to
E-mails than by
It is easier to
keep record of
３．I cannot trade because of internet
problem. Can you help me?
（Answer） You have to deal directly with the
trading desk in case of emergency as we are
not allowed to quote prices or to handle the
orders So as not to be in trouble in
such a case, please do the followings:
records of dealing desk telephone
Basic Skills of Trading in English： Basics
of Phone Trading
possible, please keep accounts with more
than 2 brokers
possible, please keep connected with
more than 2 internet service providers
Regarding the Platforms
１．What is FCM?
（Answwer） Futures Commission Merchant.
It is essential that a FCM is properly
registered with NFA and that it is keeping
its good standing.
２．Is it necessary
to keep contract with FXwiz?
（Answer） Trading contracts are done between
FCMs and their customers. We don't
usually contract with the customers as we
don't touch the customers' funds. We
don't charge fees on our services.
３．I am afraid that trading conditions might
change in case of opening an account via
（Answer） No. Trading conditions will
stay same as opening accounts directly with
FCMs. We have made clear with FCMs on
this point and we occasionally monitor that
this promise is fairly observed by FCMs.
Regarding Trading Conditions
１．Why is the risk higher on higher leverage?
（Answer） Higher leverage deals with larger
capital exposure to the price movements.
only a small movement could eliminate the
customers investment easily. It is
always important to know that a certain
movement of price results in XXX
２．What is the spreads of interbank FX?
（Anser） Usually, most of the majors are
quoted 1-2 pips. Therefore, a
lot of competitive FXMs are quoting almost
same prices as interbank.
３．What is 'slippage'
（Answer） It is the difference of stop loss
order and its execution. Some of the
brokers are guarantying zero slippage, while
others are not. Although the
zero slippage brokers are better than others
in regards to ' slippage', we believe that a
fair execution should be done with some
slippage judging from the market condition.
Therefore, it is not wise to stick to this
point only when deciding the best broker.