What is Forex?
The foreign exchange market (forex, FX, or currency market) is a global decentralized market for the trading of currencies. In terms of volume of trading, it is by far the largest market in the world. For more info click here.
What does PIP mean?
A PIP is a very small measure of change in a currency pair in the forex market. It is the achronym of “Percentage In Point” and it can be measured in terms of the quote or in terms of the underlying currency. It is is the smallest amount by which a currency quote can change, which is usually $ for U.S.-dollar related currency pairs, which is more commonly referred to as 1/100th of 1%, or one basis point. How do we estimate it? All the currency pairs ( except for the Yen ) are quoted with 4 or 5 decimal places. PIP is always calculated on the first 4 digits. EXAMPLE:
- EUR/USD is rising from 1,2315 to 1,2316, we had 1 PIP gain
- EUR/GBP is growing from 1,18245 to 1,18745, we had 50 PIPs gain
What does SPREAD mean?
Keeping in mind that in forex markets operators trade one currency for another, SPREAD represents the difference between the price the trader can buy the currency buy the currency ( BID ) and the price to sell it ( ASK) in a common forex trade. In a currency pair, the first one is called the “base currency” and the second is called “quote currency” ( base/quote ).
But how do we calculate it? Let’s suppose we have a EUR/USD bid price of 1,1147 and ask price of 1,1149, here the SPREAD amounts to 2 PIPs. Generally the amount of SPREAD we are dealing with is charged by your broker to get its service commission on the trade.
Are you the trader?
No, we are not either traders or brokerage firms. We are those who are in the middle, who provides valuable informations on traders and brokers for client’s success.
How can I open my trading account?
You just have to click on our SERVICES area, where you can have a complete list of our partners offers. Later, when you buy the system you will receive an email illustrating the last steps you need to take to start your own trading investment.
In which currencies can I open my trading account?
You can start your own account choosing among USD or EUR.
What is the minimun deposit required to start a managed account?
Depends on the company you choose. Currently the minimum deposit is EUR 100, or the equivalent in the currency you deposited.
Which documents are required to open the account?
If you register an account as an individual, you will be required to upload the followings:
- a copy of your valid passport or a governmental Photo ID, that contains your name, date of birth, signature, and photo as well
- a copy of your bank statement or utility bill, that is not older than 3 months stating your registered address.
In case you register as a company, you will be required to upload:
- a copy of the certificate of incorporation
- a copy of the memorandum of association
- a copy of a valid passport of each directors, and beneficiaries of the company
- a bank statement or utility bill not older than 3 months containing the registered address of the company
- A copy of the signatory rights of the company.
- A copy of local Financial Authority authorization if applicable
- The authorization granted for the person who is authorized to act on behalf of the company
After opened my account, who has access to my money?
Only you. The trading companies are delegated to send signals to your account, but the funds remain on your control. Moreover, the client fund safety is enhanced by the broker’s strict segregation policy. Money are held separately from broker’s funds, physically and in the company books as well. That means that in case of an unlikely bankruptcy of the brokerage firm, the segregated client funds may not used for the reimbursement of the creditors.
How can I monitor my account?
You can check the balance and your profits through KTM (broker) monthly and daily email statements.
Alternatively, you may log in into your own KTM Client Zone with your account email and password.
Otherwise, for a 24h monitoring, you may use the master account myfx link concerning your choice.
How can I deposit and withdraw?
You may choose among several options. For more detailed informations please follow the deposit/withdraw guide of the product you received.
How do you warrant the safety of my funds?
In the unlikely event that continuous lossess occur on your managed account, a safety system automatically triggers a stop-loss order liquidating all the trades on the account in order to protect client funds, before reaching the set critical loss level, additional security is provided by traders that are monitoring the master account and even in the semi automated systems based on equity levels.
What services do you offer?
We are constantly striving to find the best money managers in the market. We know that this is not easy, so you will likely find few but realiable options for your success in the market.
By which companies you promote this services?
You will rely on the specific company for the opening of your account soon as you complete the payment step.