Legacy FX customers can trade Bitcoin over.
What’s the difference in points?
For a currency pair, the difference between the selling price is called (the bid) and the purchase is called the (ask). In order for the deal to be the same with no profit or loss, the deal must move in the direction of the trade with the value of the pips difference.
What is a lot?
Forex trades are measured in lots. A standard lot corresponds to 100,000 units of the traded currency pair, a mini lot corresponds to 10,000 units and a mini lot corresponds to 1,000 units.
what’s the point
Also known as the PIP symbol, it indicates the percentage in one point. A pip is the basic unit of measure that shows changes in the rate of exchange rates. In most currencies, the pip is 1/100 of 1%, but there are a few exceptions, such as the Japanese yen pairs, where the pip is the second decimal place.
What are short trades and long trades?
With a long position, the trader benefits from the maximum price, ie he buys at the lowest price and sells at the highest price. In the short position, the trader benefits from the low price, ie he sells at the highest price and buys at the lowest price.
What is the leverage?
Leverage is the ratio between the trader’s investment (margin deposit) in the transaction and the brokerage company’s contribution. By using a small amount, the trader can invest a much larger amount in the total value of the contract, increasing profit or loss. Leverage of 200 to 1 allows a trader to invest $ 50 in a contract of $ 10,000 (50 * 200 =) 10,000. However, leverage can also be significant.
What is the margin?
Margin is the amount of security on an investor’s account that is required to create a trade. If the situation opened by the trader worsens and the account does not have sufficient funds to cover the potential loss, the system sends a margin call. The merchant must deposit the required amount or the system will close the deal. The system calculates the margin requirements for the current trades and constantly checks the available margin.
What is a margin call?
In the event that the margin used falls below the margin requirements, the system closes the positions. This procedure protects the merchant from reducing his balance to a negative level.
What are stop-loss, take-profit, and trace orders?
A “stop loss” order is an order to close a position when it reaches a certain level. It is used to prevent loss beyond a certain level. The “Take Profit” order is also an order to close the position when it reaches a certain level. It is applied to guarantee profit at a certain point in time if you are concerned that the trend will turn after that. “Stop Tracking” sets the safety margin below the stop-loss order or the highest of the take-profit order and enables the system to maintain profitable trades and close losing trades at a predetermined distance from the entry point.
What is a renewal contract?
Foreign exchange transactions are usually processed within two working days (value date). Rollover or rollover deal depends on the interest rate differential between the components of the currency pair. If you buy the pair at a higher interest rate, you will earn interest. If you sell the currency pair at a higher interest rate, you pay the interest. Most trades are carried over automatically.
What is a currency swap?
A currency swap is the agreed purchase and sale of a currency in the same amount at a forward exchange rate.
What is the difference between an intraday trade and an overnight trade?
The transaction that is created within 24 hours after the broker’s normal trading hours close is intraday trading. Overnight trades are trades that remain open at the end of trading hours. These deals are automatically renewed by the brokerage company.
How do I get trading recommendations?
Legacy FX trading recommendations appear on the website under Tools and Analytics. It is available to all LegacyFX clients and can also be sent by email on request.
What are the best forex trading times?
Reportedly, the best time to trade the Forex market is when the London and New York markets intersect. It happens when the big banks and the greatest number of traders are active.
What happens to my offers on the weekend?
Trades stay open at the end of the week and are changed at the beginning of the following week. You should knowen that there are fees for the renewal and will be deducted on the Wednesday of the following week.
Will trades close when I’m outside the network?
both. Trades stay open depending on the market even if you are not connected to the platform. Note, however, that there are fees for overnight rollover deals.
How is the currency swap calculated?
Legacy FX swap rates are listed in the table under Accounts / Trading Conditions / Swaps. But the company has the right to change these terms and conditions as you see fit. The schedule will be adjusted accordingly immediately.
How can I change the leverage?
The standard leverage for foreign exchange transactions is 200: 1. And for most goods, it’s 50: 1. Your account manager can change the leverage when you open an account.
Are there any restrictions on the withdrawal of bonus money?
The terms for the payment of the financial bonus depend on the terms of the offer on which it was received. For general instructions please read the terms and conditions
What are the procedures for losing the password?
Contact support if you have any questions.