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Often asked questions


Definitions

  • What is a cross rate?

    An exchange rate between two currencies that do not involve the US dollar is called a cross rate. For example, EUR/GBP, EUR/CHF, and CHF/JPY.

  • What is a swap? Sometimes it takes away my money, sometimes adds it…

    The point is that you trade on Forex Spot. You make a transaction to be settled the next day. In other words, when you buy 1 lot of GBP/USD you make a buing of transaction of 100,000 GBP for USD and agree on the delivery of the currency a day later. As the currency is not actually made, the next day you postpone the settled date for one more day. And so on.

    However, you have to pay the difference between the refinancing rates of national banks of the countries' currency that you exchange.

    Let us consider a classic example:

    Let us assume that in Europe the rate is 4.0% and in the US – 3.5%. For example, you have opened a 1.0 lot position for the sale of EUR/USD. To do so, you have to sell 100,000 EUR. This means that you have to borrow it at 4.0% per annum. Having sold EUR, you buy USD and then give it away at 3.5% per annum. Your total loss for the transaction is (4.0-3.5)% per annum; or, which is the same, at the EUR/USD rate of 0.9000: 675 USD per year, or 1.85 USD per day, or, in case of 1:100 trade, – 0.18 points.

    The amount awarded/charged as a payment for rollover is called storage or swap.

    Note:

    For rollover on  night of Wednesday to Thursday, the storage is applied/awarded at a triple rate. The reason is that a position opened on Wednesday is valuated on Friday. In case of a rollover after Wednesday night to Thursday, the valuation date must be increased on 3 days rather than on 1 day and become Monday. That is why storage from Wednesday to Thursday is applied/awarded in a triple rate.

  • What is a trailing stop. What is the difference between a trailing stop order and a simple stop order?

    The following occurs when you set a trailing stop (e.g., for 30 pips):

    MetaTrader will not take any actions until the position makes a profit of 30 pips (the trailing stop value). After that, MetaTrader will set a stop order 30 pips away from the current price (in this case, at a breakeven level).

    Upon receiving a quote where a gap between the current price and stop order exceeds 30 pips (the trailing stop value), MetaTrader will send a request to change the stop order and set it 30 pips away from the current price. Thus, your stop order becomes 30 pips closer to the current price.

    A trailing stop works only when you are connected to the Internet and have a trading account open with the trading platform.

  • What is Stop Loss?

    This order is intended to minimize losses if the price of a financial instrument becomes loss bound. If the price of the instrument reaches this level, the position will be automatically closed.

    Such an order is always connected with an open position or a pending order.

    When checking conditions for this order, the Bid Price is used for long positions, and the Ask Price – for short positions.

    The trailing stop or advisor options may be used in order to have a stop loss order carried out automatically.

  • What is Take Profit?

    Take Profit is intended for receiving profit when the price of a financial instrument achieves the anticipated level.
    The execution of this order results in the closing of the position.
    The order may be issued only together with a market or pending order.
    When checking the conditions for this order, the Bid Price is used for long positions, and the Ask Price – for short positions.

  • Please explain what is a spike.

    A spike is a sharp non-market upward movement. All loss transactions are canceled without fail. Profitable transactions may be kept or canceled in accordance with a decision of the company.

  • Wednesday swaps are bigger than on other days. Why is that so?

    On the night of Wednesday into Thursday an “additional” swap for weekend days is calculated because the valuation date falls on the second day. The weekend starts on the second day after Thursday, and the exchange floor is closed.

  • Trader’s password: what is it and where can I get it?

    It is a password that you entered during your account registration. It must be entered when you enter your Personal Area, MetaTrader, or Web-terminal.

  • What are Pips?

    1 pip is a minimum change in the price of a currency pair or other instrument. For example, in case of EUR/USD, 1 pip is 0.0001.

  • Secret word: what is it and why do I need it?

    Secret word (telephone password) is a single password known not only to you but also to the company (all other passwords are kept confidential).
    Our clients may set/change the secret password independently in their personal area.
    This password may be required as a part of the identification procedure during conversations with the technical support team but it is rarely used. The trader may perform trading transactions using this password when contacting the technical support team.

  • What is the investor’s password?

    The investor’s password is a password for the MetaTrader software that allows you to look through all the transactions on your account but does not permit you to open or close transactions. Often this password is used to provide access to the people to whom you just want to show the results of your trading activities.
    Investor’s password may be set/changed in the MetaTrader software (trader’s password is required to do this).

  • What is Stop Out and how is it calculated?

    If transactions on your account reach such a low point when practically no funds are left on the account, your transactions will be closed compulsorily. In this case, it is said that you have reached a stop out. It occurs when the collateral level drops down to 15% of your available funds. E.g., 0.1 lot of USD/CHF, and there is only US 0.15 available on the account (while the collateral required is USD 1).

Beginners

Trade accounts

Binary options

  • Do you have binary options?

    Yes we provide the following service. According to our data, we give the best conditionsfor trading on binary options. 90% payments in case of winning, you set the time by yourselves, the option is activated during the auction, you set any bidwith 1 cent step.

  • How much I will receive in case of winning?

    You will receive 190% from your rate. If you bid 10 dollars, you would receive 19. If you bid 50 cent - 95 cents.

  • If the price doesn't change during the option?

    As you put on the fall or rise - then if the price remains the same your bid is considered to be lost.

  • How often it is possible to receive option?

    We set only one limit: not more than 5 options during one time. I.m. if you have 5 options, the next one you can set only after finishing one of the current ones.

  • We ask you to describe about buying the option.

    On purchasing of an option - you choose time of the action, the direction, the tool on which you trade. After that money is charged off your account. With the following comment:
    BO "tool" "action time" "direction" "Price"
    Example: BO EURCHF 30s BUY 1.20135
    If the option is lost - money doesn't return back. If your option has won, the money will come into your account  MT4 with the following comment as in the previous one. only WIN is added in the end.
    Example: BO EURCHF 30s BUY 1.20135 WIN

  • Where it is possible to check my last and current contracts? Whether it is possible to see them in the MT4 terminal?

    There is nothing more simple - you can see them in your personal profile. In total as it is described in the previous question - you will see write-offs (a payment for an option) and payments (repayment of the paid options)

Leverage

Competitive process

Financial aspects

MetaTrader

Personal area

  • I cannot access my Personal Area. Why?

    So far we have only identified one reason for this. You introduced your login and/or password incorrectly. Please contact our Customer Service Department. A password to access the Personal Area and a MetaTrader password are the same.

  • How can I change personal data in the trader’s area?

    Normally we do not change these data. In exceptional cases we may try to change them.

    To do so, please submit the relevant request to boss@forexstart.org.

    You can also open a new trading account (with correct data) and transfer your funds from your previous account.

  • How can I recover my password to the Personal Area?

    If the amount available on the account does not exceed USD 1,000, you just have to send us the following:

    • Account number
    • Photograph of your passport which you hold close to your face. We recommend that you cover your signature on the passport.

    If the amount available on the account exceeds USD 1,000, you have to send us a notarized scan copy of your password by post.

  • I cannot access my personal area and replenish my account. What should I do?

    Make sure you have introduced the data (login and password) correctly. Also, make sure you have the correct language layout activated on your keyboard and whether Caps Lock key is enabled.

    If you have forgotten your password it must be recovered. To recover your password, please send an email to boss@forexstart.org or support@forexstart.org.

  • How can I change the residence country specified in the personal data?

    You can change the country of residence in the Personal Area of the relevant account.

  • How can I clean the order history in the Personal Area?

    The Personal Area reflects the entire history for one month. It cannot be changed.

Passwords

  • How can I recover my password to access the Personal Area?

    You have to go to the page http://www.forexstart.org/account/remind and upload a photograph of your passport. On the photograph your signature must be covered with a paper with a note “For FXstart.”

  • Where can I obtain a PIN code to withdraw funds from an account?

    The password to be used for funds withdrawal (PIN code) was shown to you during registration and marked in red. If you have lost it, it must be recovered.

  • How can I recover my PIN code (password to withdraw funds)?

    You have to go to the page http://www.forexstart.org/account/remind and upload a photograph of your passport. On the photograph your signature must be covered with a paper with a note “For FXstart.”

    If the amount of funds available on the account does not exceed USD 500 we will send you the password immediately. If the deposit available on the account exceeds this amount we may request additional information.

    If the amount of available funds exceeds USD 5,000 we may request the following:

    Notarized copy of your passport

    Notarized application requesting password change.

    After that, you will receive a new password. You will be able to trade on the account without restrictions; however, you will be able to withdraw funds only after one month. To avoid such situations we kindly request you to immediately record all data on a non-electronic medium.

  • Can I change my email address?

    Unfortunately, we do not change the email address. You can open a new trading account (with correct data) and transfer your funds from the old account.

More about bonuses

  • What is bonus?

    It is money which we give you at replenishment and which can be put out when performing certain conditions. At present time - at replenishment by any method, you can choose the bonus size - from 0% (the bonus isn't charged) to 500% - the bonus will be allocated 5 times more.

  • Where I can see a bonus?

    Bonus is imaged in your account - in the terminal Metatrader 4 - where it is imaged as "Loan". Also you can see a bonus in the personal account in head of the web-site.

  • On input I received a bonus. How I can use it for trading

    Bonus factualy increases the leverage, for example your leverage is 1:500 is 5 times more the size of your deposit, then factually you receives the leverage of 1:3000.

  • Isn't it dangerous to have such a leverage?

    It is dangerous therefore we don't advise you to trade on all deposit. It is as a car speed - it is dangerous to go even 200 km/h - not saying about 3000, however in some situations it can be useful - and we give our traders such an opportunity.

  • My bonus is written off. Why?

    The bonus is written off in two cases. In the first case - when you remove expenses. At any removal from the trading account it is removed in 5 times more bonuses, than you draw from account (but no more then the current size of bonuses (Credit)). In the second case if you approached to the maximum loss. The bonus can't be used for support of positions and therefore is written off. Thus, likely, your transactions will be closed. You watch closely that means on your account didn't fall lower than 10% of pledge.

  • I have made 2 transactions on the lot on EURUSD and EURUSDv. How much I will receive on bonus program? And fow to refill this account?

    After transactions, you can transfer part of funds from Credit to the Deposit. Then they can use for support of positions, and also you can bring them from the account. If on your account there are bonus means (they are noted as the Credit in MT or as bonuses in the Private office), after performance of 1 lot on couples on which end there is a sign v or ecn - you can transact 1 (currency of the deposit). I.e. if you have a dollar account - you can transfer with bonus funds to balance of $1.
    If the cent account - 1 cent, if yuan account - 1 yuan, etc. If you trade on tools where on the end there are no small symbols - for example, in EURUSD - you receive 3 deposit currencies (dollar, cent, yuan, etc.). If you trade on symbols where on the end is big - you receive 80 for each lot (respectively, 80 dollars cents or yuans, etc.)

  • On refillment I received a bonus, how to find out how much I can withdraw?

    Rather detailed we answered this question in FAQ. You have to trade - then you should come into you personal profile and transfer available bonus funds to your balance. It happens on the page: http://www.forexstart.org/profile/personal/bonus
    After money transfer on the balance - you can bring them to your wallet.
    Attention - if you put put expenses and on your account there is a credit, which wasnt spent - it will be withdrawn in the ratio 5:1.

  • Can it be canceled without accomplishing the conditions?

    The bonus doesn't disturb you - simply trade as you did it before. It will be written off during withdraw of expenses - as it is described in the previous field.
    But I don't think that you will refuse of additional profit.

  • What are the tools with ".big" at the end? What is the difference?

    This tool was created especially for people who want to receive profit from others for their trade. You can transfer 80 dollars for each standard lot (1 lot on the dollar account) from bonus means on the deposit.