Schwab forex: approval, counterparty and protection limits
US-only forex requires separate approval and carries dealer-counterparty risk; securities-account protection must not be applied to its forex balance.
Start with the correct account
The forex application guide requires an eligible brokerage account first, followed by a separate forex request. Approval remains conditional; the dealer disclosure limits the service to US customers.
Sources for this section
Official programme, eligibility or contract source Official programme, eligibility or contract source
Diagram explained
Approval and protection must both be product-specific
- Eligible brokerage first
- Separate forex approval
- Forex funds: no SIPC protection
Who faces the client?
The dealer is counterparty to customer forex trades and describes automatically offsetting transactions with liquidity providers. Offsetting its exposure does not turn the customer’s contract into an exchange-traded security.
Sources for this section
Official programme, eligibility or contract source Official programme, eligibility or contract source
Read protection by product
The risk disclosure says forex is outside SIPC protection and can produce losses beyond the deposited amount. A banking or securities banner elsewhere on the website does not change this forex disclosure.
Sources for this section
Check the enabled status
An illustrative sequence is brokerage approval, forex application, approval confirmation, then checking the funded forex account. Skipping the separate permission check can leave a platform login with no forex dealing access.
Sources for this section
Official programme, eligibility or contract source Official programme, eligibility or contract source
Register for up to 100% trading fee rebates
Rebate details
Contact FINEX to confirm the rebate rate, eligible fees and account conditions before registering. contact@finexbroker.com
Your next step
Sources and scope
Sources are provider publications. Conditions may vary by entity, country, account and program. Recheck before signing up.