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Online Forex Trading
"Since 1998"

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Frequently Asked Questions

What services are provided?
Offers 24-hour real-time dealing prices that can be accessed over the internet or by phone. A charting package with technical analyses. Customers can access their accounts through an account summary which shows all previous trades, orders and real-time P&L on their positions. Also, for traders and money managers you can manage multiple accounts controlling each account separately or grouped as one.

Can I deal on the phone as well as the internet?
Telephone dealing is available to clients. Some clients use the phone to make trades or check currency levels if they are away from their computers.

How do I withdraw money from my account?
A client can have money mailed to their bank account within 3 to 5 business days. A fax or letter sent from the client stating the amount they wish to have withdrawn. Partial withdrawals are permitted provided margin requirements of the open positions are fulfilled. Please fill out a Withdraw Request.

Can I place limit and stop loss orders?
Limit orders and stop loss orders are available to our clients at no charge.

How Do I open an Account?
The customer agreement is online on our website. We can also mail all necessary information to you.

How large is the Foreign Exchange Market on a daily basis?
A
n average of $3.2 trillion changes hands every day.

Who is responsible for the size of this market?
International banks, multi-national corporations, and large brokerage houses that trade in huge volumes of currencies.

Can I trade if I am changing my place of living or if I’m traveling?
As long as you have a laptop (and access to a telephone) you can trade from anyplace in the world. You can also trade by phone 24 hours a day by using the dealing desk. Please keep us updated with your new address, phone numbers and e-mail.

Do you recommend people to open a demo account before opening a real account. Is there any difference between the two?
Yes, every investor should use the trading platform before opening a live account. This will give the investor a better level of understanding on how the Foreign Exchange Market moves and increase the comfort level for the investor as to whether this is a good investment strategy. The difference between demo trading and live trading is simply using simulated versus real funds. Demo fills are done automatically by the computer based on the on-screen price, while real trading relies on dealers accepting the trades. Because of volatility of price movement, not all market orders are executed.

What is a "margin call?"
A margin call is simply the established dollar limit below which a trader is not permitted to go. A margin level not only reduces credit risk, it also protects the integrity of the market.

What do the terms "bid/ask" and "spread" mean?
Bid is the highest price that the seller is offering for the particular currency at the moment; Ask is the lowest price acceptable to the buyer. Together, the two prices constitute a quotation; the difference between the two is the spread, that is, the difference between the price offered by a dealer willing to sell something and the price he’s willing to pay to buy it back. In a trading situation consider the figure $/Y 115.05/10. What this figure means is that we would be able to offer you yen at .05 but is willing to buy it back at 10. As a trader, the spread is inherently important to know because your desire to obtain or liquidate your position on the market will be effected by the spread.

What do the phrases "going short" and "going long" mean?
First of all, you have to realize that the understanding of these terms is relative to what is being discussed. Generally speaking, when you go long a currency it means you bought it and are holding it in the expectation that it will appreciate in value. By contrast, going short means you’re selling currency in the expectation that what you’re selling will depreciate in value. Specifically, if you’re going long Sterling, it means you are buying or holding onto Sterling. At the same time, when you buy Sterling it means you’re shorting the dollar.

What is the difference between liquidity and volatility?
Liquidity is the possibility to maneuver around the market, i.e., buying or selling with any quantity of financial product (stocks, bonds, etc.). Volatility is the average movement in any given period of time. The higher the average, the higher the volatility.

 


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