How to Close a FOREX Account

How to Close a FOREX Account

Brokers also need to close the account at any time. The reasons may be different, like he wants to switch to another broker, quit trading, etc., but before closing the account, you need to make sure that you have not opened a position and that all your debts are clear. If you have an open position, you need to close it first and transfer any cash to your bank account. Here is how to close a Forex account.

Step 1

Examine your account and determine whether you have opened a position for trade. If you have been working in Forex for a long time, you may have opened some positions. If you open a position and then decide that you want to close it or transfer it to another broker,

Step 2

You can close your account directly on the online website of a particular broker. The broker also provides a form to get feedback from your side. You can download it directly from the website. At the same time, some brokers do not provide such a facility. So traders need to call customer service to request a form to close the trade through email.

Step 3:

Fill in the form; it contains your personal information, and also don’t forget to specify how you want to get your money back. Such as, if the broker trades through a credit card, the broker will refund the money to your credit card. To authorise the closure, you will often be required to sign the form at the bottom.

Step 4

The submission method will be written on the submission form, which could be via email. The fastest way to fill out the form is to download and scan it onto your computer. Then you have to wait for your money to arrive, and then the broker will close your account.

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FAQS

How do I delete my Mt4 account?

If you want to delete your MT4 account, Open the MT4 website and select the “MY Account” menu option available at the bottom right. Select “delete my account.” The page will prompt you to enter your email address and password. Enter your email and password and provide a valid reason to close the account. The dropdown menu will provide you with a variety of reasons.

How do I delete my FOREX demo account?

This is the simplest way to delete a demo account. Log out of the broker with which you have made a demo account. The broker will delete your demo account.

How do I delete my Metatrader 5 account?

An MT5 trader can be deleted in two ways. The first method is to go to the settings and select “Delete your account.” The other way is to request a broker to withdraw your money. The system will provide a form, and you need to wait to withdraw and close your account. Brokers with zar account use this method.

Final words

There are many times when a trader wants to delete a trading account. But it is recommended that you close all your trades and withdraw your money.