Currency trading, also known as “foreign exchange,” “Forex,” or “FX” is one of the largest financial markets in the world. With over $4 trillion traded every day, the forex market is a global market that individuals and corporations can invest that the value of one country’s currency will rise, while another country’s currency will fall. There are many ways to trade the forex market. It can be traded fundamentally or technically, day-trading, scalping, swing trading, and long term. The value of currencies is influenced by economic factors, geo-political events, supply and demand, and market sentiment.
The procedure for opening a Demo Account is explained here. Your Demo Account will remain open for 30 days. If you would like to extend your demo account or open another one, please contact our Client Services department.
The procedure of Live Account opening is explained here.
Demo and live accounts have the same functional capabilities. However, profits and losses on a demo account are not real therefore no financial risk is involved. On demo accounts all transactions are processed automatically by the server, whilst on live accounts some transactions may be processed manually by a dealer. On demo accounts you may experience a spike due to an erroneous price being quoted and make a trade, whereas on live accounts any spikes are deleted and all trades affected by the spike are amended or deleted.
You can trade Forex with Alpari (US) 24 hours-a-day from Sunday 6:00pm to Friday 5:00pm (EST). If, for any reason, it is not possible to trade via MetaTrader 4, please contact our 24-Hour Trading Desk by telephone. Please refer to our Telephone Trading Reference before calling us.
No. All tax arrangements are your concern. If you have any doubts regarding your tax status we recommend you seek independent advice.
For a Standard Account, the minimum initial deposit is $500.
No, Alpari (US) does not charge a fee for depositing and withdrawing funds. However, we will relay the costs we pay our banks onto our clients. The bank fee for a withdrawal made by wire transfer is $20.00. Withdrawal by check is free.
No, the time zone of our trading servers is always GMT/BST+1 (Western European Standard Time/Western European Summer Time +1). Having times in GMT/BST+1 avoids having small candlesticks on Sundays and therefore allows the running of technical analysis and back testing to be more smooth and straight forward.
Usually a losing position is automatically closed by the system when your margin requirement is less than 100%. However, the Forex market is volatile and if you have a low margin level during an economic news release or under abnormal market conditions, the market can rapidly move against you and your open positions will be closed at the next best available price. Also, it is not uncommon for the market prices to gap when the market re-opens for trading after weekends or major holidays. These circumstances could cause you to lose some or all of your account funds or leave you will a negative account balance which you are responsible for. You can use a stop loss to exit a position and reduce your risk exposure however; placing contingent orders may not necessarily limit your losses.