How can I open a trading account?
How long does it take to open a trading account?
How can I start trading?
What trading account types do you offer?
We offer the following trading account types:
SILVER: 1 micro lot is 1,000 units of the base currency
GOLD: 1 standard lot is 100,000 units of the base currency
PLATINUM: 1 standard lot is 100,000 units of the base currency
For further details, please click HERE.
What is the minimum deposit/withdrawal for a trading account?
Do you offer cent accounts? Is the deposit visible in cents?
Do you offer MINI accounts?
Do you offer NANO accounts?
Do you offer Islamic accounts?
Yes, we do. You can request a swap-free Islamic account by following the instructions described HERE
How long can I use a demo account?
Can I change the base currency of my account?
Is it possible to lose more money than I deposited?
Can I lose the bonus? Do I have to refund it if I lose it?
How can I see the charts?
What leverage do you offer?
What spreads do you offer?
What are your trading hours?
Do you allow news trading?
What leverage do you offer?
What is margin / margin level / free margin?
The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). More details can be seen HERE. Margin level is calculated with the formula Equity/Margin * 100%.Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.
What is margin call and stop-out?
Margin Call occurs when your equity reaches 50% of your used margin. The used margin is not deducted from your balance or equity, but it simply gets displayed in the Terminal window, where the main purpose of displaying the margin is for margin level calculation: Margin Level = ( Equity / Used Margin ) * 100%. The actual margin call is simply a notification (received by email on the Mt4 Terminal window) that your account is approaching dangerous levels.
Stop out occurs when your equity drops to or below 20% of your used margin. At that point, the system will start closing your trades one by one, starting from the most losing one, in order to decrease the used margin, and by doing so, increase the margin level, attempting to push it above 20%. The calculation formula is this: (Equity/Margin) *100%.
How can I calculate the margin?
Margin calculation formula for forex instruments is the following:(Lots * contract size / leverage) where the result is at always in the primary currency of the symbol.
For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.
For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:
(1 * 100 000/500) = 200 Euros
Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.
What is the margin formula for gold/silver?
What is the margin for CFDs?
How do you calculate swaps in currency pairs (in forex) and for gold/silver?
The swap formula for all forex instruments, including gold and silver, is the following: lots * long or short positions * point size Here is an example for EUR/USD:
Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.
Here is an example for gold:
Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.
Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.
I opened 0.01 micro lots and closed a position on my SILVER account, but I see no profit. Why?
You can calculate your profits with the help of the following formula:
(Close price-open price)*Contract size*Lots Example
You have a MICRO account (contract size is 1000), and you opened 0.01 lots of EUR/USD.
Opening price =1.29887, closing price=1.29906
The calculation would be as follows:
(1.29906-1.29887)*1000*0.01= 0.0019 USD (the result is always in the second currency of the currency pair). As you can see, 0.0019 USD is too small a profit to be visible on your platform, as the profit shows 2 decimals.
Do you allow scalping?
What is stop loss?
Stop loss is an order for closing a previously opened position at a price less profitable for the client than the price at the time of placing the order. Stop loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.
Using stop loss is useful if you want to minimize your losses when the market goes against you. Stop loss points are always set below the current ASK price on “buy” or above the current BID price on “sell”.
What is take profit?
What is trailing stop?
How can I calculate 1 pip of profit or loss?
Value of 1 pip in EUR/USD= 1 Lot (100 000 €)*0.0001= 10 USD
Value of 1 pip in USD/CHF= 1 Lot (100 000$)*0.0001=10 CHF
Value of 1 pip in EUR/JPY=1 Lot (100 000 €)*0.01= 1000 JPY
What is the minimum lot size for SILVER and for GOLD accounts?
The numbers below are per transaction, and you can open an unlimited amount.
GOLD account:
1 lot = 100,000
Minimum trade volume = 0.01
Maximum trade volume = 50
Trading step = 0.01
SILVER account:
1 Lot = 1,000
Minimum trade volume = 0.01
Maximum trade volume = 100
Trading step = 0.01
Please note that the minimum lot size for trading with CFDs is 1 lot.
Do you allow hedging?
What is leverage? How does it work? Why is less money required for a higher leverage and is the risk higher?
Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).
Example: Your trading capital is10.000EUR
The leverage chosen is 100:1
For a GOLD trading account this means 100*10.000 = 1.000.000EUR
On EURUSD long position opening at 1.3055, position closing at 1.3155
The difference is 0.0100 pips thus 1.000.000*0.0100 = 10.000 USD this is the profit you made.
Can I change my leverage? If yes, how?
What is the Profit Calculation for CFDs?
The profit calculation is as follows:
(Close Price-Open Price)*Lots*Contract Size
The lot size on every CFD differs.
Do you have slippage?
Can I open more than one trading account?
Will you close my live account if it has a zero account balance?
Is there a dormant fee if I don't use my account?
Do you close my open positions and placed order if I go offline?
What is the maximum amount that I can trade online?
Why are rollover rates tripled on Wednesdays?
Do you accept US clients?
Do you offer binary option trading?
Can I change my account type?
What is one-click trading? How can I enable it?
What supporting documents do I need to provide if I want to be your client?
Supporting documents are:
- A color copy of valid passport or other official identification document issued by authorities (e.g. driver’s license, identity card, etc). The identification document must contain the client’s full name, an issue or expiry date, the client’s place and date of birth or tax identification number and the client’s signature.
- A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address.
Do I need to provide my proof of residency?
Can I open an account by providing a different identification document instead of my passport?
Do I need to upload my documents again if I open a new trading account and my first account was already validated?
Can I update my personal information?
What deposit/withdrawal options do you have?
In which currencies can I deposit money into my trading account?
Can I withdraw my money whenever I want?
Can I withdraw my money if I have an open position?
How long does it take for funds to reach my bank account?
How long does it take to receive my money after I make a withdrawal request?
How long does the deposit/withdrawal take by Neteller or any other payment method?
What payment options do I have to deposit money?
We offer a wide range of payment options for deposits: by bank wire transfer, local bank transfer, and other payment methods.
As soon as you open a trading account, you can log in to our Members Area, select a payment method of your preference on the Deposits page, and follow the instructions given.
Are there any deposit/withdrawal fees?
Can I transfer funds from my trading account to another client’s trading account?
Can I deposit to/withdraw from my friend’s/relative’s account?
Is it possible to transfer money from one trading account to another trading account?
What is the difference between demo and real accounts?
While all features and functions of a real account are also available for a demo account, you should keep in mind that simulation cannot replicate real trading market conditions. One relevant difference is that the volume executed through the simulation does not affect the market; while in real trading volumes have effect on the market, especially when the deal size is large. The speed of execution is the same for real trading accounts as for the RangeForex demo accounts.
Moreover, users can have a very different psychological profile depending on whether they trade with demo or real accounts. This aspect may impact the evaluation performed with the demo account. We advise you to be cautious and avoid complacency about any conclusion that you may draw from using a demo account.
How can I view my trading history?
Open the terminal window by pressing Ctrl+T on your keyboard, and select the Account History tab. Right click to enable the context menu, which will allow you to save your trading history as an .html file so that you can later view it when you log out of the trading platform.
Can I use robot/auto traders or expert advisors?
Yes, you can. All our trading platforms support the use of EAs.
How do I add an expert advisor?
Save your expert advisor in the MetaTrader4 directory on your computer: C:Program Files – MetaTrader – RangeForex – experts. Then restart MetaTrader4. The expert advisor file should appear in the navigator window of MetaTrader4. Left click on it and drop-and-drag it onto the chart of the currency that you would like the expert advisor to trade on
What do I do if the attached expert advisor does not trade?
First check if trading is allowed by going to Tools -> Options -> Experts tab -> Allow live trading. Then make sure that the expert advisor button on the main tool bar is pressed. You should be able to see a smiley face in the top right-hand corner of your chart which shows that you have activated your EA correctly. If everything is all right, but the EA still does not trade, see your log files via the Experts tab in the Terminal window (you should be able to see what error occurs). You can also email us for further assistance at support@rangeforex.com.
Why isn’t my EA working? I keep getting error messages saying “Trade disabled error 133”?
We separate standard trades from micro trades (1volume in standard account = 100 000 units, 1volume in micro account = 1000 units). This is why you should search in your market watch window for the symbols with Micro extension (e.g. EUR/USD micro instead EUR/USD), right-click and choose Show all. The other “grayed” symbols are used by the platform to calculate oil prices. Right-click these “grayed” symbols, and choose the Hide option to avoid any confusion.
I can only see 8 pairs on my MT4. How can I see the rest?
Log in to your MT4 platform -> Market watch window -> right click -> Show all -> scroll down and you will be able to see all instruments available for trading.
Can I change the time zone in MetaTrader?
No, you can’t. The time zone of our trading servers is always GMT+2 winter time and GMT+3 summer time. GMT time setting avoids having small candlesticks on Sundays and therefore allows the running of technical analysis and backtesting to go more smoothly and straightforward.
I have a MICRO account and I can’t place the order. Why?
We separate standard trades from micro trades (1volume in standard account = 100 000 units, 1volume in micro account = 1000 units). This is why you should search in the Market Watch window for the symbols with “micro” extension (e.g. EUR/USD micro instead EUR/USD), right-click and choose Show all. The other “grayed” symbols are used by the platform to calculate oil prices. Right-click these “grayed” symbols, and choose the Hide option to avoid any confusion.
I can’t see the opening/closing price on my chart.
Every buy order is open at ASK price and closed at BID price, and every sell order is open on BID price and closed at ASK price. By default, you are only able to see the BID line on your chart. In order to see the ASK line, right click the particular chart -> Properties -> Common-> and tick the Show ASK line.