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
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amount they wish to have withdrawn.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
Limit orders and stop loss orders
are available to our clients at no charge.
How Do I open an Account?
The customer agreement is
on our website. We can also mail
all necessary information to you.
How large is the
Foreign Exchange Market on a daily basis?
An average of $3.2 trillion changes hands every day.
Who is responsible for the
size of this market?
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
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