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FINEX · GETTING STARTED

Understand first.
Choose with context.

A practical guide for your first visit, your next provider or a possible switch. Read this before opening an account or paying for a prop-firm evaluation.

Editorial guide · sources checked 17 October 2026

01 · Two different arrangements

A Forex / CFD broker

You open a trading account under a specific legal entity and account agreement. Check who contracts with you, which products are offered and what protections apply to your country.

CFDs are high-risk products. Leverage magnifies gains and losses; a familiar brand name does not make every entity’s protections identical.

A prop trading program

You agree to a particular program’s evaluation, loss limits and reward terms. Check whether trading is simulated or live. The advertised account size is not money you can withdraw.

For example, FTMO describes its Challenge and FTMO Account as simulated trading. Other firms and programs must be checked separately.

A demo helps you learn the platform. Demo results do not establish what live execution or future returns will be.

02 · Compare the full cost

  1. Broker costs: read spread, commission per side or round trip, overnight financing and any account, conversion or withdrawal charges. Compare the same instrument, account and trading size.
  2. Prop costs: check the challenge price, recurring subscription if any, activation/reset fees, refund conditions and reward split for the exact program.
  3. Withdrawal versus reward: withdrawing money from a broker account differs from requesting a prop reward. Check identity verification, payment methods, timing, minimum amounts and restrictions.
  4. Illustrative arithmetic: if a commission is $3 per side per lot, opening and closing one lot costs $6 in commission, before spread and other charges. This is an example, not a provider quote.

03 · A checklist before you pay

  1. Identity and eligibility: confirm the exact legal name, official domain, country restrictions and applicable regulator or contract. A licence for one group company does not automatically cover your account.
  2. Trading conditions: check leverage, margin and execution terms at brokers; daily/overall loss, balance versus equity, trailing drawdown, news/weekend and strategy rules at prop firms.
  3. Getting money out: read the current withdrawal or reward policy. A supported method does not guarantee your country or account can use it. Ask the provider about unclear or missing terms.
  4. Practise and keep records: try a demo/free trial where available. Keep the version of the agreement, fee schedule and rules you accepted. Only commit money whose loss you can bear.

04 · Considering a change? Compare what will actually change.

For experienced traders, a new logo or headline offer is not enough. Put your current account or program beside the proposed replacement.

  1. Write down the problem you want to solve: total costs, platform, execution conditions, withdrawals, support or restrictive program rules.
  2. Match the legal entity, country, account type and product. Mark any unknowns rather than assuming the new provider is better.
  3. Check existing positions, withdrawal steps and any subscription cancellation or refund conditions. Never assume accounts, history or challenge progress transfer.
  4. Test the new platform on demo where available. Confirm critical questions with the provider and save the response before you decide.
Compare 2–3 providers →Discuss your questions
Forex & prop trading terminology
Spread
The difference between the bid and ask prices. A quoted minimum is not an observed average.
Trading commission
A trading charge, separate from any referral commission paid to an IB.
Per side / round turn
Per side applies to an opening or closing transaction; round turn covers opening and closing. Always check the volume and currency basis.
Swap / overnight financing
A debit or credit for holding a position overnight, depending on the instrument and direction.
Balance / equity
Balance reflects booked transactions. Equity also reflects floating profit or loss; use the provider’s exact risk formula.
Drawdown
Static, trailing and end-of-day rules use different reference points. Maximum daily loss and maximum overall loss are distinct limits.
Prop firm / funded account
Here, prop firm refers to a trading evaluation or capital-allocation provider. A funded stage may be simulated or live; the profile states the program’s published setup.
Withdrawal / reward payout
A broker withdrawal returns money from a client account. A prop reward payout is paid under the program contract and profit-split conditions.

Provider examples and definitions: IC Markets Help Centre ↗ · FTMO: How it works ↗

Sources and the limits of this guide

This is general education, not a personalised investment recommendation or a promise of approval, profit or payment. FINEX does not hold trading funds. Each provider decides account eligibility and applies its own contract.

UK regulatory protections described by the FCA are jurisdiction-specific. They do not establish that your chosen account is covered. For a provider-specific fact, use the sources in its FINEX profile.