Forex companies often set terms of use so that users do not commit malicious acts, but some users violate the account, and in the worst case, the account becomes dormant. may become frozen. In what cases does this apply?
account freeze
If you are in a frozen account or dormant account, you will generally not be able to trade. However, account freezing and dormancy have different meanings. First of all, I would like to explain about the account freeze. Account freeze is a measure for not following the rules and committing a violation. Please refer to the following articles for violations.
dormant account
There is something called a dormant account. This is generally caused by opening an account but leaving it unused for a certain period of time. If 30 days pass without logging in or trading with no balance, it will be switched to a dormant account. And if you switch to a dormant account in this state, you will not be able to log in. It will actually freeze.
Leave with balance
What happens if the account is left unattended while there is a balance in the account? Generally, after 90 days, your account will become dormant, after which a monthly maintenance fee of $10 will be deducted. As long as there is a balance, the account maintenance fee will be charged, so leaving it unattended is dangerous.
What happens if an account is frozen or dormant?
Next, we will talk about what happens when an account becomes frozen or dormant. In general, the situation will be as follows.
Cannot login
If your account becomes frozen, it will be treated as an inactive account and you will not be able to log in. The user is unable to do anything as it is effectively blocked. This means that you will not be able to make deposits or withdrawals.
bonus disappear
If an account is frozen, all bonuses on the frozen account will be forfeited. The timing at which the bonus disappears depends on whether or not there is an account balance. If there is a balance, the bonus will disappear after 30 days of neglect. If there is no balance, the bonus will expire after 30 days.
Account maintenance fee
As explained above, if you leave your account with a balance for a long time, it will be treated as dormant and you will be charged an account maintenance fee. There is a monthly account maintenance fee of $10. If you do not trade, withdraw once and set the account balance to 0.
How to unfreeze your account
We will show you how to unfreeze your account. However, it is not 100% certain that the account can be unfrozen. In the case of users who have committed malicious acts, sanctions can never be lifted again. In the worst case, you will be banned and you will not be able to create an account again.
inquiry
It is not possible to unfreeze an account manually. Please contact the support center because analog correspondence is required. If you have not violated our terms of service, we will immediately unfreeze your account. In other words, it is up to you to unfreeze your account.
Open additional account
If your account is frozen, you can trade without problems by opening a new additional account. However, it is an absolute condition that this does not cause any problems. If you violate the terms of use, you can’t even add an account, so you need to open a new account with another company.
How to cancel a dormant account
Here’s how to unlock a dormant account. If you leave your account with a balance for 90 days, it will become a dormant account and a monthly account maintenance fee of $10 will be charged. This hurts a lot so please try to get your hands on it sooner rather than later. By releasing the dormant state, you will be able to trade again. Deactivating a dormant account is very easy. If it is a dormant account, logging into MT5 will automatically release the dormant state. In short, all you have to do is log in.
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