1. What is Forex?
Forex, also known as foreign exchange or FX, is the simultaneous buying of one currency while selling another. The forex market is available 24 hours a day, five days a week and it’s one of the largest, most liquid financial markets in the world. Just to compare, the New York Stock Exchange makes about $169 billion a day in volume and the Forex Market makes over $5 trillion a day in volume.
2. How does Forex trading work?
Forex is traded in currency pairs. Common currency pairs are the Euro/US Dollar, US Dollar/Japanese Yen, Great British Pound/US Dollar, and US Dollar/Canadian Dollar. You buy one currency and automatically sell another.
3. What are the trading hours for the Forex market?
The Forex market is open 24 hours a day. It opens on Sunday at 10:00 pm GMT, and closes on Friday at 10:00 pm GMT:Sydney opens at 10:00 pm to 7:00 am GMTTokyo opens at 12:00 am to 9:00 am GMTLondon opens at 8:00 am to 5:00 pm GMTNew York opens at 1:00 pm to 10:00 pm GMT.
4. Is Forex trading expensive?
It depends on the leverage and capital invested. You can have a starting capital of as low as $50, or as high you want. However, it is important to remember that increasing leverage increases risk; but ultimately depends on the investor’s appetite for risk.
5. Where is the central location of the Forex market?
Forex trading is not centralized on an exchange, as with the stock and futures markets. The Forex market is considered an Over-the-Counter (OTC) or ‘Interbank’ market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network.
6. Where is the central location of the Forex market?
The sum of your profit depends on the efficiency of your trading strategy, on how well you will learn to predict the alteration in rates tendency and a little on the amount of your deposit which allows you to sustain unfavorable situations during market movements.
1. What is the spread?
The spread is the difference between the bid and the ask price. The bid price is the rate at which you can sell a currency pair, and the ask price is the rate at which you can buy a currency pair. With us, you can trade a large range of instruments with flexible spreads. That gives you a greater degree of price transparency on your trades.
2. What is a rollover?
The rollover rate, also referred to as “swap” or “interest” rate, is simply the cost-of-carry that is applied to your account on a day-to-day basis. It is the difference between the interest rates of the two currencies which a trader either earns or pays when a position is kept open overnight.
3. What is “order volume” in a Forex trade?
The term “order volume” refers to the number of standard lots you want to trade.1.00 refers to 1 standard lot or 100,000 units of the base currency.0.10 refers to 1 mini lot or 10,000 units of the base currency.0.01 refers to 1 micro lot or 1,000 units of the base currency.
4. What is a spot market?
Spot markets refer to the markets that deal with the current price of financial instruments.
1. What does ECN mean?
ECN means “Electronic Communication Network”. An ECN account gives you direct market access so that you can deal with other market counterparties.
2. Do you offer ECN/STP accounts?
Yes we do. We can offer you ECN on your trading account through our Alpha Pro and ECN+ accounts.
3. What currency can I trade with AlphaBeta FX?
AlphaBeta FX offers all major currency pairs, exotic pairs, precious metals, and CFDs for trading.
4. What is a Forex broker?
A Forex broker is an intermediary between you and the interbank desk, networks of banks that trade with each other. Typically, a Forex broker will offer you a price from the banks that act as their liquidity provider. AlphaBeta FX uses multiple banks for pricing and we offer you the best price quotes with fast execution.
1. MAC/MAM Service Description?
The MAM (Multi Account Manager) account type provides traders with an opportunity to invest their funds by letting experienced traders do the actual trading for them. All trading activities are concentrated on a single money manager’s account wherein the funds of all investors are consolidated. Investors, without performing any trading operation, may earn profit by simply entrusting the whole trading process to their chosen fund manager. As for the manager, he/she receives an agreed upon amount which serves as commission from investors for managing their funds.
2. Types of accounts?
There are two different types of accounts: the Manager Account (MAMM and MACM) and the Investor Account (МАMI and MACI). Moreover, in addition to manager accounts, an alpha Control account is also created. Note that the accounts’ functionality is based on Alpha Pro guidelines.
3. Depositing to an account
You may not deposit directly to a MAMM account. The only way to replenish balance is to connect your MAMI account. Other money operations are also forbidden. Moreover, you may not deposit directly to a Control account as well. However, withdrawal requests could be processed.Depositing to MACM, MACI, and MAMI accounts are available at any given moment. However, funds will be displayed on MAMM’s balance (to which MAMI is connected to) only after all existing orders, including pending orders, had been closed.
4. Functionality of accounts
You may trade on your MACI or MAMI account before there is an active connection to a manager. The only options left after already successfully establishing a connection to a money manager is “Close Order”. After disconnection, all trades will be closed automatically.When a MAMI account owner is connected to a manager, he/she will be able to see all opened orders, trading history, and commission charges on the AlphaBeta FX terminal.
1. MetaTrader 4 terminal indicates the ‘Invalid Account’ error. What should I do?
You have entered an incorrect login (account number) or incorrect password from your trading account. If you forgot your password, please check your email that was provided during your registration in Trader’s Room and find there a mail from AlphaBeta FX that was sent to you confirming your registration – your login details were included in this e-mail. Please make sure that the password is entered correctly and all symbols (lowercase & uppercase) are the same as provided to you during registration.
2.MetaTrader 4 terminal indicates the ‘Account is disabled’ error. What should I do?
Your real account hasn’t been activated yet. In order to activate your account for trading, certain sum of money must be deposited to your account (in EUR or USD). Demo accounts do not require activation. Contest accounts are activated automatically at the beginning of contest.
3.MetaTrader 4 terminal cannot connect to my trading account (‘No connection’ error). What should I do?
Please check your internet connection, maybe it is your Internet Service Provider’s (ISP) problem. Try to surf web pages which are hosted in various countries of the world. If some pages cannot be opened, contact your ISP’s Technical Support.
4.I constantly receive the ‘Market Closed’ error when trying to open orders. What should I do?
The trading session on this financial instrument has not started yet. Please check the trading hours indicated on this table (click on any instrument to see further details).
If you are trying to buy or sell a Future Contract, please check, maybe it has expired and the trading is closed. Sometimes, 1-2 days before the expiration date, the Future Contracts might be switched to ‘close only’ status, hence opening new trades becomes prohibited. Try restarting your trading platform.