Frequently Asked Questions

Opening an Account

What is the difference between accounts?

Almahfaza offers a wide range of accounts that offer different trading conditions and benefits to suit a variety of trader needs. For more information about our available accounts, click here.

Can I open multiple accounts?

No. Almahfaza does not allow clients to hold more than one account.

How can I open or switch to an Islamic account?

Almahfaza is proud to offer an award-winning Islamic trading account. Please contact us for more information about setting up an Islamic trading account.

Can I edit my personal details?

If you need to update any of your personal details, please contact our compliance department.

Which identification documents do I have to supply?

After registering with Almahfaza, you will be required to fax, scan or email:

  • a copy of your passport or other government-issued identification document;
  • a copy of a bill or statement (e.g. telephone bill or bank statement) on which your current residential address is clearly printed;
  • a copy of both sides of your credit card.

Why do I need to send a copy of my passport/ID?

As a regulated broker, Almahfaza is required by law to verify the identity of traders and therefore needs to see a copy of a valid passport or other government-issued identification, as well as proof of address and credit card possession. These steps protect both the company and the entire Almahfaza trading community. For further information, please read our Terms & Conditions.

Where and how do I send the documents?

All identification documents should be uploaded on the platform or sent to our compliance department. Contact us for more details.

How do I know if the documents I’ve sent are OK/sufficient?

The Almahfaza compliance team checks all documents submitted for review and will notify you immediately if any document is missing, unreadable or unsuitable.

Can I have an account in a currency other than USD?

All Almahfaza trader accounts use US Dollars.

Do you charge any commissions and/or trading fees?

No. Almahfaza does not charge any commissions or fees.

Do you charge fees for money transfers?

No. Almahfaza does not charge fees on money transfers.

Do you charge maintenance fees?

Almahfaza does not charge regular maintenance fees, however, it does reserve the right to charge a US$50 fee on open accounts once every three months.

Do you charge a fee on inactive accounts?

Yes, Almahfaza reserves the right to charge an inactivation fee of US$50 when a client account has been inactive for a period of three months (and provided that the client has at least US$50 in their account).

Can I delete a credit card from the system?

Should you wish to change a credit card, all you need to do is access the deposit centre, click the green Add Funds button and then click on the blue Change Method link. You will then be able to choose a new credit card (click on the blue Use New Card link) or edit the existing credit card details (click on the blue Edit Credit Card Details link). To use a different payment method, select from the menu on the left (your registered credit card details will remain on the system). You do not need to delete any card from the system and can rest assured that Almahfaza only processes payments and withdrawals according to your instructions.

How can I get my statement?

Login to the trading platform, click on the profile avatar in the top right corner and choose “Trading History" from the drop down menu. Then, select “Statement," and add the relevant dates for the statement period, or choose “All Times."

Will someone manage my investments?

No. Almahfaza does not manage traders’ investments. When opening an account with Almahfaza, you are the one investing and making decisions about your funds. However, Almahfaza does offer comprehensive assistance, including education, and analysis.

Do you allow fund management for other clients?

Yes. Almahfaza offers PAMM/MAMM services. Please contact us for further information.

Can residents of the United States trade at Almahfaza?

No. Almahfaza does not accept traders residing in the US at this time.

Do you offer corporate accounts? What documents are required to open a corporate account? Is there a minimum deposit amount?

Almahfaza offers corporate accounts, pending manager approval. Please contact us for further information.

Trading Basics

How do I start trading?

First, register with Almahfaza here. Then, fill in a short questionnaire and fund your account. Almahfaza representatives are available to assist you every step of the way, via phone, email, and live chat. Once your account is funded, you are ready to start trading.

Which assets can I trade at Almahfaza?

Almahfaza offers a broad list of premium assets for trading, including currencies, stocks, commodities, and indices. For a full list of assets available for trading, click here.

How many trading platforms do you offer?

Almahfaza offers the award-winning ParagonEx Web Trader and MetaTrader4 (MT4), and adaptations suitable for iPhone and Android devices.

Do you offer MetaTrader4?

Yes, Almahfaza offers both MetaTrader4 (MT4) and the award-winning ParagonEx Web Trader. The ParagonEx trading platform was designed in-house, is recognised as the best in the market and provides you with all the advantages of MetaTrader in a very simple and intuitive way. Click here to learn about MT4.

What is the minimum transaction size?

The minimum transaction size is US$25.

Can I trade over the phone?

Yes. Almahfaza has an expert team of dealers available to transmit your telephone orders. Please note, you will need to be identified the first time you call the trading support room. A number will be assigned to you, which you will need to memorise and provide, together with your username, every time you call the dealing room. Please contact us for further information.

What are the Major Currencies?

Major currencies are the currencies in which most of the world’s foreign transactions are made and against which the value of a local currency is measured. The five major currencies are the US Dollar (USD), the British Pound (GBP), the Euro (EUR), the Japanese Yen (JPY) and the Swiss Franc (CHF).

Do you provide trading signals or updates?

Almahfaza provides daily and weekly market reviews so traders stay up to date with the market. Gold and Platinum account holders are also eligible to receive trading signals via SMS or email. These signals will alert you to profitable trading opportunities and are provided by a third party – Alliance Signals. You will also receive a call from our representative when something interesting happens in the market that could be profitable for you.

Why should I place a Stop Loss (S/L)?

A Stop Loss protects you on trades that go against you, and therefore also protects your overall account balance. Markets can be volatile and it is recommend to always use Stop Loss to limit any losses.

Why should I place a Take Profit (T/P)?

A Take Profit closes the trade at the profit point you select, which removes emotions from the trade. Take Profit orders also protect a profitable deal from a volatile market, especially, for example, if you are not in front of your computer when it is time to close the deal.

Why do the trades I open appear to start with a loss?

The loss you see is the spread, which is automatic whatever the result of the trade. The spread is the difference between the buy and sell price of an asset. Once the market passes the spread in the direction of your trade, the rest is profit.

Do you have slippage?

In Forex, the term slippage refers to the difference between the expected price of a trade and the price at which the trade is actually executed.

What is leverage?

Leverage is a tool Almahfaza offers to increase your trading margin. Trading with leverage is also called trading on margin, and traders use leverage to control larger amounts of a currency, stock, commodity, index, or CFD than their regular balance would allow. Almahfaza offers leverage of up to 400:1.

What are your margin requirements?

Your free margin can be seen in the trading platform and represents the funds currently available for you to trade with.

Does Almahfaza use margin calls?

Yes, Almahfaza has a discretionary right to execute margin calls on any account and will alert a client as soon as possible should a margin call be required on their account. For further information, please refer to Section 9 of the Almahfaza’s Terms and Conditions here.

How does Almahfaza charge for rollovers?

Almahfaza does not charge a rolling commission but does charge a rollover fee (also known as an overnight swap). The rollover fee is calculated when a trader leaves a position open past 00:00 GMT. The term rollover refers to the interest rate currency traders pay or receive on open positions that are rolled over from one day to the next. Every currency pair has its own interest rate. At the end of every trading day, at 00:00 GMT, the trader will pay or receive the interest rate.

What is Scalping and do you allow it?

Scalping refers to opening and closing a position within seconds. Almahfaza has a one-minute minimum time to close a deal after it has been opened.

Are your spreads fixed and are they the same for every Trader?

Almahfaza offers fixed spreads that are determined according to your account type. Premium account holders receive the best and most attractive (tightest) fixed spreads. For more details about spreads on Almahfaza accounts, click here.

How do I close a trade on Oil, Gold or Silver?

The financial markets have brief daily breaks during which Gold, Oil and Silver cannot be traded. Trading hours and breaks are not controlled by Almahfaza. Learn more about asset trading schedules here.

Do you support forward deals?

No. Almahfaza only supports spot deals.

How quickly will you execute an order and what are your order execution rules?

As an STP (Straight-Through-Processing) broker, Almahfaza executes orders automatically as per your instructions. For information on order execution rules, please refer to Section 3 of the Almahfaza Terms and Conditions here.

Do you take the other side of my trades?

No, as an STP broker, Almahfaza streams your trade orders to the market, avoiding any conflict of interest.

How can I make sure you are not playing against me?

Almahfaza is a respected trading brokerage and acts solely to facilitate your trades. Almahfaza hedges every position, and the firm’s strength lies in its technology. Almahfaza only gains from the spread.

What happens to my positions at the end of the trading day?

Very little in the short-term, but several assets behave differently in their life cycles. Currency pairs can be traded for as long as three months, while indices expire in accordance with the date specified in the underlying contract. To learn more, please visit our Assets page.

What happens to my positions during the weekends?

When the market is closed, your open positions are frozen. However, when the market re-opens, your positions may open at a different rate than the previous week’s closing rate.

Deposits

How do I deposit money with Almahfaza?

Almahfaza offers a wide variety of international and local deposit methods, including credit and debit cards like Visa and MasterCard, as well as Wire Transfer. You can view funding options here.

What is the minimum initial deposit?

In order to enjoy all essential services, the required minimum deposit is US$500. With leverage of 400:1, this gives you control of $200,000 in trading capital.

Is there a deposit fee?

No. Almahfaza does not charge fees on deposits.

Do you allow third party deposits?

Almahfaza does not accept third party deposits. If the initial deposit was made via credit card, a withdrawal can only be sent to the credit card used to make the original payment. If the initial deposit was made via bank wire transfer, a withdrawal can only be sent to the account from which the initial transfer originated.

I just made a credit card deposit by mistake. Can you please cancel it and send my funds back?

You can request a withdrawal immediately by clicking on the Withdrawal tab located on the bottom left-hand side of the trading platform.

Withdrawals

How do I get my money back/withdraw funds?

Almahfaza makes withdrawing your funds simple. To withdraw funds, sign into your trading account, click on the profile avatar in the top right corner and choose “Withdraw Funds" from the drop-down menu. Withdrawals can only be processed and transferred via the payment method you used to make your deposit. For example, if you deposited your funds with your credit card, the amount you wish to withdraw will be transferred to the credit card account from which the deposit was made. For more information please contact us.

How long does it take to process withdrawals?

Withdrawals take 3-10 business days to process. Click here to learn more.

Are there fees for withdrawals?

No. Almahfaza does not charge fees for withdrawals. However, any transfer fees imposed by banks are your responsibility.

Can I withdraw money via a different method than the one I used for a deposit?

No. Withdrawals can only be sent via payment methods by which you funded your account.

I made a withdrawal attempt within the platform and was told I am not allowed (via a pop up). Why?

Please make sure your requested amount is more than $25 and less than your free balance. If you participated in one of our Bonus programmes, please make sure you have completed all the requirements outlined in the Bonus programme’s Terms and Conditions. Please contact the Almahfaza support team who will be glad to assist you with your request.

Charts

How many charts can I open at once?

Almahfaza allows three chart options: Thin Chart, Single Chart, and Chart Station. The Chart Station allows traders to open up to four charts at a time.

Why can:apos:t I view the charts in Trade Tools?

To view the charts, you will need to install JavaScript, which only takes a few minutes to download.

License, Regulations & Privacy

Is my personal information secure?

Yes, your personal information is secure, and you are free to change your password at any time after activating your account. To ensure a safe trading experience, Almahfaza uses SSL encryption systems, which protects your personal details.

Why do I need to submit answers about my financial status before I start trading?

Almahfaza is a regulated and licensed financial institution and is required to collect financial status details from clients to comply with guidelines on appropriateness and suitability. Rest assured, Almahfaza does not share such information with any third party. For more information about the regulation standards Almahfaza adheres to, see our Terms & Conditions.

Are traders:apos: accounts segregated?

Yes. Traders have a unique username and password combination that allows sole access to your account by you. The balance in this account is the sum of your initial deposit plus any trading profits, less any trading losses.

Login Issues

I forgot my password, how can I retrieve it?

Click “Login” next to the “Open Demo” button on the homepage. A small popup will appear. Click “Forgot your password?” located just below the green “Login” button inside the popup and enter your registered email address. An email will be sent to your registered email address with further instructions for resetting your password.

Why is access to my account blocked?

Accounts may be blocked because Almahfaza did not receive all of the required documents within 72 hours of your first deposit. Almahfaza needs to see a copy of your passport or other government-issued photo ID, a copy of a utility bill, and a copy of your credit card. In the event that you did send these required documents and more than 3 days have passed, please contact us.

Almahfaza will make sure that someone gets back to you promptly to clear up the matter. Please note that your funds are securely deposited and allocated to your account during this time.

Service

How do I register a complaint?

Almahfaza’s customer support team offers prompt round-the-clock assistance during the trading week via Live Chat, phone, and email.

Should an issue persist, you can register a complaint here and Almahfaza will do everything it can to investigate and resolve the matter.

Information About Almahfaza

What is Almahfaza?

Almahfaza is an online trading brokerage specialising in currencies trading, and commodities, stocks, and indices in the form of CFDs.

Which services do you provide?

Almahfaza provides traders with Reception and Transmission of Orders on one or more financial instruments. For further information, please refer to Section 3 of the Almahfaza Terms and Conditions.

Are you a market maker or an STP broker, and do you use ECNs?

Almahfaza is a full STP (Straight-Through-Processing) broker, using ECNs (Electronic Communications Networks) to transmit your orders to the best priced execution venue. This means that Almahfaza’s interests are aligned with those of Almahfaza traders’.

Are you an execution broker?

An execution broker executes the trades you place on the market themselves. Almahfaza, on the other hand, works with several different brokers to ensure that the trades you make are transmitted on your behalf to the broker offering the best execution.

What type of regulation does Almahfaza have?

The company operates under laws that promote and protect safe-practice trading. For more information regarding the strict regulation standards Almahfaza meets, please read our Terms and Conditions.

What system does Almahfaza use to protect my account?

Almahfaza is protected by SSL security systems, which are only provided to legitimate and reputable companies, and works with the four largest credit card companies in the world: Visa, MasterCard, American Express, and Diners. Read more here.

Where is Almahfaza based?

Progressive Tech Limited is headquartered in: Trust Company Complex, Ajektake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.

Is Almahfaza involved with the stock exchange?

Almahfaza offers a wide range of the world’s most popular stocks to trade online. As an STP broker, Almahfaza is not involved directly with any stock exchange.

Which banks do you work with and where will my money be deposited?

As an internationally recognized brand, Almahfaza works with top-tier banks to ensure your funds are safe at all times. Your money will always be held in segregated accounts, which means Almahfaza cannot use your money for business expenses. Further, you are also eligible for investor protection schemes.

Why should I choose Almahfaza over another broker?

Almahfaza provides traders with the best online trading tools, access to financial experts and superior customer service, which encourage Almahfaza traders to make the right trading decisions. As an STP broker, rather than a market maker, Almahfaza is interested in traders profiting consistently and establishing a long-term trading relationship.

How does Almahfaza profit on my trading activity?

Almahfaza charges zero commission and fees, instead making money on fixed spreads that traders are informed of before trading. The spread is the difference between an asset’s buy and sell prices. Almahfaza teaches traders what they need to know to be profitable and helps each trader to establish a person trading strategy. As much as Almahfaza wants its traders to make money and continue to trade, traders are responsible for the risk they assume and overall profitability.

Why is the company name different from the one you are telling me is regulated?

Our internationally registered and licensed brokerage operates under the brand name Almahfaza. We adhere to strict international trading requirements and standards. For more detailed information regarding the standards Almahfaza meets, read our Terms and Conditions.

What do I do if I am having difficulties with the website?

Almahfaza’s award-winning customer support team is available 24-hours a day during the trading week and provides prompt assistance via Live Chat, phone, and email.

Almahfaza welcomes feedback that allows for improvements to be made to the website. Please get in touch, and every effort will be made to assist you and/or fix the issue.