FREQUENTLY ASKED QUESTIONS (FAQ)
OTC is a market that is conducted directly between dealers and principals through a telephone or computer network rather than a regulated exchange trading floor. OTC trading with XGLOBAL FX means that you trade currencies with the aim to make a trading profit through the fluctuation between the currency values. You don’t actually take delivery of these currencies.
The most commonly traded currencies are USD, EUR, JPY, GBP, CHF, CAD and AUD. The most commonly traded currency pair is the EUR/USD
Market orders are executed immediately at the current market price. Limit orders are orders that a trade should be executed in the future, when the market price reaches a specified price trigger
Being long means buying a currency against another currency. Being short means selling a currency against another. If a trader goes long EUR/USD, he or she buys Euros and sells US dollars. Buying a currency is closely associated with taking a long position in that currency. A trader decides to be in a long position in a currency if he or she forecasts that the currency will appreciate in value against another currency. If a trader goes short EUR/USD, he or she sells Euros and buys US dollars. Selling currency is synonymous with shorting that currency. A trader would go short a currency if he or she nurtures the belief that it will depreciate in value against another currency
Leverage is used to significantly increase your purchasing power. A smaller margin deposit can control a much larger total contract value. XGLOBAL FX offers a leverage of up to 200:1.
XGLOBAL FX servers are set to GMT+2 hours (or GMT+3 if DST applies in Europe).
The trading sessions do not have daily opening and closing times. Each trader is welcome to trade Forex 24 hours a day from 22:00 GMT on Sunday until Friday 21:59 GMT (there is an offset due to DST during certain times of the year).
The minimum contract size is 0.01 lots or 1000 base units.
XGLOBAL FX stop out level is set at 50%
XGLOBAL FX offers a single trading account with 500 USD/EUR/GBP or 50,000 JPY minimum deposit requirement, very tight spreads and no additional charges. For more information on trading account, click here.
To register with XGLOBAL FX is easy. Firstly, you need sign up for XGLOBAL ID and you will be requested to provide us with the full name, email address and a password for the members area. You will then be requested to choose to proceed for opening a Real or a Practice account
When you register for a live trading account with XGLOBAL FX you are required to fax, or scan, or email your passport or ID card; a bill or statement (e.g. telephone bill, bank statement) showing your residential address. We do this to ensure the safety and validity of your account
In XGLOBAL FX’s website you can deposit money with your credit card e.g. MasterCard, Visa, and Visa electron, Skrill (Moneybookers), and Wire Transfer. We accept deposits in US dollars and Euros
MetaTrader 4 is a trading platform that is developed by MetaQuotes. It is widely used by online Forex traders and brokers. The XGLOBAL FX platform is Metatrader 4 which is globally used for online trading, view live streaming prices, and monitor charts to name a few. For more details on MT4 platform, please click here.
To download the MetaTrader 4 from XGLOBAL FX is easy. Once you sign up for a Members ID you will be prompt to proceed with a Real or a Practise account. Either you choose to go for a Real or a Practise account, the terminal will begin downloading on your PC