1. What is the Forex market opening hours at the start of the week ?
The Forex market will open on Sunday 5pm New York time.
2. What is the Forex market closing hours at the end of the week ?
The Forex market will close on Friday 5pm New York time.
3. The candlestick has not reach my Stop Loss level, but my trade stopped out, why?
This scenario usually occurs in a Short trade. In a Short trade, you enter with the Bid price
and
close with the Ask price. However, candlestick represents Bid price only. When the candlestick
(Bid price) moves near to your Stop Loss, the Ask price (which is higher than Bid price) would
have hit your Stop Loss level, hence closing your trade.The other possibility is your account
has
hit the Stop Out limit.
4. The candlestick has touched my Take Profit level, but my trade is not exited, why?
This scenario usually occurs in a Short trade. In a Short trade, you enter with the Bid price
and
exit with the Ask price. However, candlestick represents Bid price only. When the candlestick
(Bid price) touches your Take Profit, the Ask price would still be higher than your Take Profit
level, hence your trade is not exited.
5. What is leverage?
Leverage is used to help traders maximise profits with lesser capital. Leverage determines how
much margin is required for each trade.
Leverage
Options |
Balance (USD or its
equivalent) |
1:10 - 1:100 |
Above USD 50,000 |
1:10 - 1:200 |
Up to USD 25,000 |
1:10 - 1:300 |
Up to USD 20,000 |
1:10 - 1:400 |
Up to USD 10,000 |
1:10 - 1:500 |
Up to USD 5,000 |
6. What is margin ?
Margin is a collateral required to take a trade. It is dependent on the leverage of the trading
account.
Below shows the corresponding Margin for the respective Leverage:
Leverage
|
Margin |
1:50 |
2% |
1:100 |
1% |
1:200 |
0.5% |
Examples:
To trade 1 standard lot (contract size of USD100,000) on an account with leverage of 1:100, the
margin required is 1% of USD100,000 = USD1,000.
To trade 1 standard lot (contract size of USD100,000) on an account with leverage of 1:200, the
margin required is 0.5% of USD100,000 = USD500.
7. What are the spreads offered?
Finzo Markets offers 2 different spread options: Variable and Fixed
8. What is a Variable Spread?
Variable spread varies with market conditions, it may widen or reduce depending on market
volatility and liquidity provided by our liquidity providers.
9What is a Fixed Spread?
The spread is fixed 1 to 3 pips depends on the pair
10. Is the Stop Loss level guaranteed?
Under normal market conditions, your Stop Loss level will be respected. However, in the event
of market/price gap (which may be a result of weekend gaps, news, events etc.), prices may not
be available to exit your trade at the Stop Loss level. Our platform will exit your trade at the
next best price available.
12. What is a Margin Call and Stop Out?
A Margin Call is triggered before a Stop Out. It occurs when there are insufficient funds in
your trading account to open and/or sustain trades. This is also when your floating losses are
greater than the minimum margin required/available.
A Stop Out occurs after a Margin Call. It is when all the trading positions reach the stop out
level, and the floating trade with the highest volume would be closed forcefully at the current
market prices to prevent any future losses.
14. When will the platform calculate the Swap/Rollover interest?
The calculation will occur at 00:00hrs Our server time, which corresponds to Gmt - 4.00
15. What is spread ?
Spread is the difference between the Bid price (Selling price) and the Ask price (Buying
price).
16. What is the minimum trading lot size?
We allow a minimum of 0.10 standard lots on our platform.
17. Is there a minimum number of trades I need to take per month?
No, there is no such requirement.
18. What is the maximum lot size I can enter, assuming I have enough margin ?
The maximum lot size is 100 standard lots for currency, 50 standard lots for metals and 250
standard lots for other instruments.
19. How long can I hold my trades?
There is no time limit on how long you can hold your trades, as long as your trading account has
sufficient funds and do not trigger Margin Call or Stop Out.
20. What should I do if I have a dispute with one (or more) of my trades ?
If you wish to make a formal dispute concerning your trade(s), please email us at
support@finzomarkets.com. Please provide as much details as possible relating to your dispute,
including your Full Name and account number. Our Support team would gladly assist you and
ensure that your dispute is thoroughly investigated.