FAQ
Question:
What is a Forex market?
Answer:
Forex (Foreign Exchange Market)-is the worldwide largest OTC-traded financial market for foreign currency exchange, without a determined place to conduct trading operating 24 hours a day. You are welcome to learn more here about the Forex market.
Question:
Who are the participants of Forex market?
Answer:
Forex market main participants are the Central Banks, commercial and investment banks, hedge-funds. Also exporters and importers, large-size investors and speculators are the market participants.
Question:
What is the relation of LivFX company to the Forex market?
Answer:
Our Company provides capability for private persons and legal entities regardless of their nationality and country of residence to make trading (marginal) operations on the Forex market, using Internet global network, and to derive profits from the rate differences.
Question:
What is needed to start working on the Forex market?
Answer:
In order to open an account with the company LivFX and to start earning on financial instruments rate differences, you need to have an access to Internet network and the funds to contribute minimum deposit to the account (from 1 USD). You can open real trading account with the company within 5 minutes, by completing registration form with us on the web-site. After opening the account you would need to refill the balance of your trading account by any convenient way for you (banker’s transfer, electronic payment systems). Prior to opening real account our Company recommends you to check your skills and trading strategies, by opening a free training account.
Question:
What kind of financial instruments can Client operate with after opening an account at the company LivFX?
Answer:
The Client has the possibility to transact in 16 currency pairs, 35 contracts for stock price difference, and gold and silver on spot for the accounts “Standart”. For accounts “Easy” type- 10 currency pairs are accessible. More detailed list of accessible trading instruments for each trading account type is set out in the specification of contracts.
Question:
What credit leverage is provided by the Company, and what is the spread value?
Answer:
The company LivFX provides standard credit leveraging 1:500 for the accounts “Easy” type. For accounts “Standart” type the clients are provided with the right to select credit leveraging 1:50, 1:100 and 1:200 for currency pairs and 1:10 to the contracts for stock price difference (CFD). The spread equals to 0 for “Easy” accounts, for “Standart” accounts according to the specification of contracts.
Question:
Whether commission is charged at conducting transactions and what’s the amount?
Answer:
Commission is absent while conducting trad operations with currency pairs for accounts “Standart” accounts. Transacting in the contracts for price difference (CFD), commission rate amounts to 0,05% of the contract’s value. For accounts “Easy” type the commission for full trade amounts to 0.04 US dollar for every 0.001 standard lot; next day transfer position amounts to 0.01 US dollar for every 0.001 lot. The commission for full trade is refunded to the Client, if the position turned out to be at a loss.
Question:
What is minimum and maximum size of the initial deposit?
Answer:
Initial deposit minimum size to open an account amounts to 1 United States dollar for accounts “Easy” type and 100 United States dollars for accounts “Standart”. Maximum deposit amount of the account “Easy” is limited by 1000 United States dollars, and for the “Standart” account there are no limitations.
Question:
What documents are needed to open an account and how to withdraw cash assets from the account in future?
Answer:
In order to open an account on-line, you need to register in the system, to receive personal parameters to enter, and to follow the procedure of account opening. All procedure to open a real account takes no more than 10 minutes. Registration in the system will allow you in future to conduct all financial transactions with your account (withdrawal, crediting, transferring funds) online at your personal office.
Question:
What kind of payments exercises the client at account opening, entering and withdrawal of funds?
Answer:
The Company does not charge any additional commission charges at conducting any financial operations with the trading account (withdrawal, entry, transfer of funds). The client pays only the commission, set by the bank for funds transfer to the settlement account of the Company, or commission charge for an electronic payment system transfer.
Question:
What’s the difference between trading with the real account and operating a training account?
Answer:
From the technical point of view there is no difference between working at a training and real account. Moreover, all our Company’s training and real accounts are serviced by the same server. The difference lies in psychological aspects of conducting operations with real and “virtual” funds.
Question:
Is it possible to receive a loss exceeding the deposit’s amount?
Answer:
Such situation is completely impossible, as a notion Stop Out exists, destined to limit Clients’ and Company’s losses. Stop Out triggers out, when the Margin level value, reflected in the Trading terminal, reaches the value lower or equal 20%. In this case Client loses possibility to administer its account and all opened positions are closed automatically.
Question:
What time is reflected in the Company’s trading terminal?
Answer:
GMT time is reflected in the Company’s trading terminal.
Question:
Why a delayed order Buy Stop on EUR/USD was activated-as I had issued the delayed order Buy Stop for 1.2623, and the maximum price on the graph is 1.2620?
Answer:
As an example, for a five-minute candle from 06-55 to 07-00 maximum reached price (High) was equal to 1.2620, and you had issued a delayed order Buy Stop for 1.2623, which was activated at stipulated moment of time. As the candle maximum (High) is drawn at Bid (Ask price is not reflected at graphs), therefore, maximum Ask was equal to 1.2623 (considering the spread), and you had an opened position to rise (Buy Stop was activated)-the orders of this type are activated just at the Ask price.
