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FAQs

Trading

What is pairs trading?

Pairs trading, also known as statistical arbitrage, is a FX trading strategy where a trader takes a long and short position at the same time for two related assets in the same industry. This means the trader buys a particular asset while simultaneously selling another related asset. The idea is to play the two assets off against each other when there is uncertainty of the direction of the market.

What is an Asset?

In the strictest sense, an asset is any resource that holds an economic value which is owned or controlled by an individual, country or corporation. In CFDs, trades are made based on the value of an underlying asset, and profit or loss is made based on its future value. The major asset classes include: stocks, indices, currency pairs (forex) and commodities.

What is the minimum tradeable amount?

The smallest amount that can be invested in a single position at Prestige.FM is €10

What is Risk-O-Meter?

This is a unique feature that enables you to control and select the level of risk to match your risk appetite.

Does Prestige.FM offer demo accounts?

Currently we do not offer demo or trial accounts.

Deposits and Withdrawals

What deposit methods does Prestige.FM offer?

Prestige.FM offers a range of depositing methods, including all major credit and debit cards such as MasterCard, Visa, Diners Club, Maestro and more. It is important to note that your card must be open to international purchases in order to fund your account. Alternatively, you can also use eWallets, such as Skrill, as well as wire transfers. Take note that if you intend to use wire, there may be additional processing fees applied, plus it can take up to 7 working days for the funds to reflect in your trading account.

What is the minimum deposit amount at Prestige.FM?

The minimum deposit amount is €250.

Is there a minimum withdrawal amount and how do I withdraw funds?

There is no minimum withdrawal amount, however depending on the method you use, there may be additional processing fees applied by the financial institutions that may be deducted from the amount you wish to withdraw. To withdraw funds from your account, follow these easy steps: 1. Complete and sign the withdrawal form. Please download it from here 2. If you have any pending bonuses, complete and sign the declaration of renouncement from here. 3. Scan or take a photo of the forms and email them to banking@prestige.fm You will receive an email from our banking team regarding the status of your withdrawal. Please note that if your account balance is less than the withdrawal request amount, your withdrawal request will be cancelled. If you have not previously completed the account verification process, your withdrawal request will be suspended until you have submitted the following documents and they have been verified by our compliance team: • Personal identification certificate: Copy of a valid ID, passport or drivers license (Front and Back). • Proof of current address: Utility bill (e.g. gas or electricity bill) or bank statement that is no older than 3 months which shows your full name and residential address. • If you deposited with a credit or debit card, you need to send a copy (scan/photo) of both sides of the card. Make sure to conceal the CVV code on the back of the card and the first 5 digits and the last 4 digits of the credit card number (the middle 7 digits should be hidden) The image must show your name and the expiry date.

Are there any fees for withdrawing?

Prestige.FM does not charge any fees, however depending on your withdrawal method, for example bank wire, there may be additional fees imposed by the banks.

How long does it take to receive my withdrawal?

If your account is in good standing and your account verification documents have been previously approved, your request will be processed within 72 hours, however it can take up to seven business days for the funds to reach you, depending on the withdrawal method.

Support

What are your support hours?

Customer support is available from Monday to Friday between 09:00 and 20:00 (GMT) excluding stock exchange / bank holidays.

I forgot my password, how do I recover or reset it?

Visit the Prestige.FM homepage and click on ‘Log In’, then click on the ‘Forgot your password’ option and follow the steps. Further information and instructions will be sent to the email address you provided when registering your account. If you have forgotten your username, please contact customer support: support@prestige.fm

Security

Is my money safe?

At Prestige.FM, safety, security and privacy are of the utmost importance to us. We utilize a range of leading technologies to protect your information, account and funds. We also have various strict corporate governance policies and procedures that we adhere to, including keeping all our traders’ funds in a segregated account from our operational funds.

Are my personal details secure?

We have implemented security measures and technology, similar to those used by the world’s leading banks, in order to protect your personal information. Plus, all transactions are encrypted used the latest standards and are managed by Level 1 PCI international payment processors. With Prestige.FM, you can have complete peace of mind that we are vigilant in ensuring your confidentiality and security.

Check out our FAQ. If you can’t find the answer you need, please don’t hesitate to contact us