FAQs

FX is the shortened term used for ‘Foreign Exchange’, the buying and selling currencies. The foreign exchange market is the biggest and most liquid financial market in the world, and operates 24/5. Almost every financial service deal across the global includes an FX transaction. On the exchange market you can trade the most popular FX pairs such as the euro/dollar, or opt for a more specialist currency. Trading reacts to both fundamentals (market news) and technical (trends), making this a dynamic asset class.

A CFD, or Contract for Difference, is an agreement between two parties to exchange the difference between the opening price and closing price of a contract. CFDs are derivatives products which allow you to trade on live market price movements without actually owning the underlying asset(shares, indices, single stock, or commodity) on which your contract is based. CFDs allow you to trade on the future movement of market prices regardless of whether the underlying markets are rising or falling. They allow traders access to markets which they would not normally be able to invest in.

Leverage is used to significantly increase your investment potential. It is a multiplier of your trading deposit. This allows you to take more or larger positions, which can lead to greater profits or losses. You must always be aware of the leverage you are trading and the margin (deposited funds) required to maintain these positions.

The spread is the difference between the BUY price and the SELL price of two instruments. For example, if the EURUSD is trading at 1.1167 (buy) and 1.1166 (sell), then the spread is 1 pip.

PIP stands for Point in Percentage. A pip measures the amount of change in the exchange rate for a currency pair. A fractional pip is equivalent to 1/10 of a pip. There are 10 points to every 1 pip. Each pip is worth roughly one unit of the currency in which your account is denominated.

The Forex market is open 24 hours a day, 5 days a week.
The time on MT5 is shown as Eastern European Time (EET). During Daylight-Saving Time, EET is 3 hours ahead of Greenwich Mean Time (GMT +3). During Standard (Winter) Time, EET is 2 hours ahead of GMT (GMT +2).
The end of our trading day always aligns with the close in New York.

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