I opened an account a couple months ago, but had to withdraw my funds do to personal reasons and not because I was unhappy with FXCM (in fact I look forward to trading with FXCM as my other broker is not quite living up to my expectations).
Here is my question, since my account was already opened can I begin to trade if I deposit $800.00? also will I have to pay a monthly fee of $10 due to my account being under $1500? I ask this because on FXCM's website there is this text:
[B]What is a Minimum Balance Fee?
All Client accounts are subject to a monthly fee of 10 currency units of the currency in which the account is denominated (or 1000JPY for JPY denominated accounts) (the “Minimum Balance Fee") unless the Client maintains a minimum balance of 1500 or more of the currency in which the account is denominated (or 150,000 or more for JPY denominated accounts) (the “Minimum Balance”) during each calendar month. [/B]
Please let me know if I am misunderstanding that text.