FAQ

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When can I trade Forex?

You can trade Forex around the clock, 5 days a week from 02:30 GMT+4:30 on Monday to 02:29:59 GMT+4:30 on Saturday. The Forex market is open 24 hours a day. Although there aren’t necessarily any trading sessions, like with stock exchanges, banks in different parts of the world have different trading hours.

How do you calculate the value of 1 pip?

Here’s the formula you’ll need to calculate the value of one pip: OnePointValue = (Contract × (Price + OnePoint) ) – (Contract × Price)

  • OnePointValue: the value of a pip expressed in the quote currency
  • Contract: the size of the contract in the base currency
  • Price: the price of the currency pair
  • OnePoint: the minimum price change for the trading instrument (one pip)
  • Quote Currency: the second currency in a currency quote
  1. For EURUSD, the quote currency is USD.
  2. For GBPCHF, the quote currency is CHF.
  3. For EURGBP, the quote currency is GBP.
  4. Example: Let’s calculate the value of one pip on GBPCHF in USD.
  • Contract Size (in lots): 1.43
  • Trading Instrument: GBPCHF
  • GBPCHF Rate: 2.3533
  • Contract Size (in base currency): 143,000 GBP
  • USDCHF Rate: 1.1659 (we need this quote to convert the pip value into USD)
I have an account denominated in USD. Can I change the denomination?

Use one of the following formulas:

  • For Buy Positions: Profit/Loss = (Contract × ClosePrice) – (Contract × OpenPrice)
  • For Sell Positions: Profit/Loss = (Contract × OpenPrice) – (Contract × ClosePrice)
  1. Profit/Loss the profits/losses on the position expressed in the quote currency
  2. Contract: the size of the contract in the base currency
  3. ClosePrice: the rate when the position is closed
  4. OpenPrice: the rate when the position is opened
What happens when I leave my Forex positions open overnight?

In Forex, when you keep a position open through the end of the trading day, you will either be paid or charged interest on that position, depending on the underlying interest rates of the two currencies in the pair. In the examples below, we’ll show you how to calculate the amount that will be credited or charged, factoring in only the interest rates and the broker’s commission, but in reality, the “storage” for holding a position overnight may depend on a variety of factors:

  • The current interest rates in the two countries
  • The price movement of the currency pair
  • The behavior of the forward market
  • The dealer’s expectations
  • The swap points of the broker’s counterparty
Why did I lose the information in my "Account History"?

Try right-clicking in the “Account History” tab of the “Terminal” window and selecting “All History”.

How can I make a deposit to my account or withdraw funds?

The following are the most popular deposit and withdrawal options

  • Wire Transfer
  • VISA/Master
  • Skrill
  • Neteller