Forex and Currency Trading FAQ

You can deposit into your trading account via our various electronic payment systems: “Webmoney”, “Liberty Reserve”, “Moneybookers” or “Alertpay” situated in the trader’s cabinet at https://secure.liteforex.org or go directly to our purses:
Z505372015047 – USD

R916574204634 – RUB
E545294526390 – EUR
Liberty Reserve – U114701
Alertpay - alertpay@liteforex.org
Moneybookers - moneybookers@liteforex.org
If you have a debit/credit card then you can either use Moneybookers or Alertpay to deposit your account via these cards.

Bank wire transfer
You can deposit into your account by a bank wire transfer. Here are our bank account details:

USD Bank wire
Receiving Company Information
Beneficiary's Name: Straighthold Investment Group, Inc.
Beneficiary's Account Number: 0385-40-281677-06
Beneficiary's Account Number (IBAN): CY86 0020 0385 0000 0040 2816 7706
Beneficiary's Address: Griva Dighenis Street 95, Suite 51, 3101 Limassol, Cyprus
Financial Institution Information
Bank Name: Bank of Cyprus Public Company Limited
Bank SWIFT Code: BCYPCY2N

Bank Address: Branch 0385 - International Business Unit Corner 121, Gr. Digenis & G. Neophytou, 3101 Limassol, Mesa Geitonia, Cyprus
Receiving Account Information
Details of Payment: Payment for the Agreement R-***** (*****- is Your account number)

EUR Bank wire
Receiving Company Information
Beneficiary's Name: Straighthold Investment Group, Inc.
Beneficiary's Account Number: 0385-01-037122-00
Beneficiary's Account Number (IBAN): CY87 0020 0385 0000 0001 0371 2200

Beneficiary's Address: Griva Dighenis Street 95, Suite 51, 3101 Limassol, Cyprus
Financial Institution Information
Bank Name: Bank of Cyprus Public Company Limited
Bank SWIFT Code: BCYPCY2N
Bank Address: Branch 0385 - International Business Unit Corner 121, Gr. Digenis & G. Neophytou, 3101 Limassol, Mesa Geitonia, Cyprus
Receiving Account Information
Details of Payment: Payment for the Agreement R-***** (***** - is Your trading account number)

Please make sure to input Details of Payment when you wire funds to us, otherwise we can deposit your account only after you contact the financial department. The minimal bank wire sum should be 200 USD (or equivalent in EUR).

Bank wire fees:
Incoming payments:
- JCC transfers in EUR: no fee
- SEPA transfers under €50.000: no fee
- SEPA transfers over €50.000: €25
- SWIFT transfers in EUR:
From €0 to 2000 – € 1.71
Over 2000 – €1.71 + 0,1 % minimum €8,50 / maximum €25
- SWIFT transfers in foreign currency:

€0-10 – 1,71€
€10-2000 – 1,71€ + up to 4€
Over €2000 – 1,71€ + 0,1% minimum €8,50 / maximum €25 + 8,50€.

Outgoing payments:
- JCC transfers in EUR: 0,15 % minimum €5 / maximum €10
- SEPA transfers under €50.000: 0,15 % minimum €5 / maximum €10
- SWIFT transfers in EUR inside Cyprus and EU under €50.000:
0,15 % minimum €5 /maximum €25 + Swift commission:
under €10000 - €8,50

over €10000 - €12,50
- SWIFT transfers in EUR inside Cyprus and EU over €50.000, all SWIFT transfers outside Cyprus and EU and all SWIFT transfers in foreign currency:
0,1% minimum €8,50 / maximum €425 + Swift commission:
under €10000 - €8,50
over €10000 - €12,50
+ Processing fees (€8,50)

Beneficiary also pays correspondent fee:
under €8,543,01

or equivalent sum in any other foreign currency: €25,63
over €8543,01
or equivalent sum in any other foreign currency: €34,17

Please note our regulations for deposit/withdrawal operations. These regulations were designed for the security of the operations. You can only withdraw funds from your account in the same way it had been deposited previously. It means, if you deposit your account via Webmoney, you can only withdraw via Webmoney, using the same Webmoney purse you used when depositing into your account. Same applies to all the deposit/withdrawal methods. If you want to use multiple payment systems you will then need to deposit into your account from the various payment systems, and the ratio of the deposit sums will be equal to the ratio of the withdrawal sums. Please also note that operations with sums under 1 USD are not allowed.

The working hours are 09:00 to 18:00 GMT+2. Monday to Friday. Account deposit via trader’s cabinet at https://secure.liteforex.org is automatic and available anytime. If you transfer funds via a direct transfer to our electronic purse, please note that such payments still must be processed by our operators to deposit your trade account. After making such a transfer you should immediately contact the financial department and advise us about your transfer. You can do so by contacting the financial department by ICQ or email. You will be asked to tell the date, time, sum, sender purse number, receiver purse number and your trade account number.

There are no limitations for maximum deposits. However, it is recommended not to deposit over 3000 USD into “Lite” accounts. To calculate necessary deposit sum, which will allow you to trade comfortably for all the account types please use the trader’s calculator. More details about the account types can be found here http://liteforex.org/accounttypes.php.

When you deposit into your account via electronic payment systems, you will only pay the payment system’s fees, if applicable.eg: If you use Moneybookers and they charge a fee then you will have to pay that fee.

You should contact the financial department to find the payment. You can contact them in any convenient way and be ready to provide the following information:
- Trade account number

- Electronic purse number
- Payment sum
- Payment date
- Number of transaction (if applicable)

You should contact the financial department to find the payment. You can contact them in any convenient way and be ready to provide the following information:
- The number of the sender trade account
- Phone password

- Account owner full name (as inputted upon account registration)
- Account owner email (as inputted upon account registration)
- The number of the receiver trade account
- Payment sum
The internal transfer is only possible when the sender and the receivers account belong to the same person (i.e. account owner name is the same in both accounts)

You can withdraw funds from your account via electronic payment systems “Webmoney”, “Liberty Reserve”, “Moneybookers”, “Alertpay” or by bank wire in trader’s cabinet at https://secure.liteforex.org. Please note that the regulations described in paragraph 1.2 are applied.

When you request a withdrawal via Moneybookers or Alertpay, you should send us a copy of your ID with a photo and a utility bill for proof of residence. This is a one-time operation, performed upon you first withdrawal. It is even better if you do so upon making your initial deposit, so that there are no further delays with your withdrawals. If you have multiple accounts in our company, please state them all in your email.

It is impossible to restore a PIN-code. In case you have lost it, you need to open a new account, transfer funds from your old one to it, and then withdraw funds from your new account.

a) The Anti Money Laundering Policy rules were broken.
You requested to withdraw funds in the system, using a different payment solution from the one, in which you deposited from.

b) Other reason. Please contact financial department.

a) “Invalid data” error.
Either trade account number or trader’s password is inputted incorrectly or trader’s password contains symbols like +, =, !, ? etc.
b) “Invalid parameters” error
You have selected an incorrect account type on the first page of the deposit/withdrawal

It is a code that protects your Webmoney transaction. You generate it and input on the withdrawal page. Then when your payment arrives, you input it in your Webmoney account to finish the transaction. More details on the Webmoney website.

Withdrawal requests are processed by the financial department manually during working hours 9:00 to 18:00 GMT+2 (trade terminal time). According to the user agreement the transfer is performed within 3 banking days from the request. Usually the financial department does its best to process the request on the day it was created.

Finance and Customer departments work 9:00 to 18:00 GMT+2 Monday to Friday. Customer support and Dealing Desk work 00:00 GMT+2 Monday to 22:00 GMT+2 Friday.

Quoting is preformed in accordance with the Regulations, namely from 23:00:01 GMT Sunday to 21:00:00 GMT Friday. In the period from 21:00:01 GMT Friday to 23:00:00 Sunday the market is closed.
CFD’s are traded according to session times. Sessions timetable: 16:30 to 23:00 GMT +2 Monday to Friday. Since shares in the terminal are provided by NYSE, they can be traded only in NYSE operational hours.

Volume is a size of an order and is measured in lots. For lot size please refer to trading tools page. You can calculate your available volume with a trader’s calculator.

Demo account is ideal for learning the basics of Forex. Demo account conditions are equal to real account ones: order execution technology, quotes, working with orders – everything like on a real account.

It is impossible to deposit a demo account. Open a new demo account.

Follow the link http://liteforex.org/openaccount.php.
Please make sure to carefully read the regulating documents of "Straighthold Investment Group" prior to opening an account. If you disagree with any of them – real account will not be opened

Yes, you can.

To restore trader’s password or phone password, please contact Customer Department. Please be ready to provide the account data.

All the contact information is available here.

We do not provide managed accounts and asset management, but you can allow other trader to manage your account. "Liteforex" will not bear any responsibility for this trader’s activities. An agreement on the account management is solely between you and the trader.

PIN-code is a password, used for account withdrawal. Please, for your funds security, under any circumstances, do not pass your PIN-code to anybody, including the company staff.

If you don’t see account history in your terminal, please do the following:

1. Check your PC system date and time
2. Right-click the account history tab and select “All history”. This way you can also see the history for any period.

This is a buy and sell price on the quotes you see, when you open or close an order. The difference between the two prices is called the spread. All the charts in trade terminal are shown at "Bid" price. You can set up your terminal to show Ask price as well. To do so, press F8 on the chart window and in “General” tab put a tick “Show Ask Line”.
Upon "Buy" order opening, the open price is "Ask" and the closing one is "Bid". Upon "Sell" order opening, the open price is "Bid" and the closing one is "Ask".

It often happens with beginners in "Sell" positions. It happens because the trader doesn’t take spread into consideration. Upon "Sell" order opening, the open price is "Bid" and the same price is shown on the chart. "Sell" order close price is "Ask", i.e. "Bid" price + spread. You can set up your terminal to show "Ask" price as well. To do so, press F8 on the chart window and in “General” tab put a tick “Show Ask Line”.

No

You can use trader’s calculator. There is also a formula, which looks like:

Point price in the deposit currency:
(Cross-rate of the currency of the order to USD) x (order volume in lots) x 100000 x point / (current rate)

where currency of the order is the first currency in the currency pair

E.g
EURJPY=162,30; EURUSD=1,4344;
Point price (EURJPY) = 1.4344 x 1 x 100000 x 0.01 / 162.3 = 8.83

Point price for CFD:
(Volume in lots) x contract size x minimal price deviation

You can use trader’s calculator.
There is also a formula which looks like:

Currency pairs ***/USD (direct quote)
Volume (in base currency units) / leverage x open position moment rate = margin

Currency pairs USD/*** (reverse quote)
Volume (in base currency units) / leverage = margin

Cross pairs ***/***

Margin = (lot volume) x (lot) x (current rate of the first currency of the currency pair to USD) / (leverage)

E.g for 1 lot EURJPY:
Margin = 100000 x 1 x 1.3460 / 200

Indices:

For all indices margin for each lot at 1:200 leverage is 500, at 1:100 leverage is 1000

CFD:
Open price x Volume / 20 = margin

What commission is taken upon CFD order opening?
The commission is calculated by formula:

Commission = (current share price) x (number of lots) / 5.

A «Stop-loss» is an order, which can be put either upon opening the position, or after it is already opened. The goal of this order is to minimize loss, i.e. after the price reaches the set value, your position will be automatically closed with a fixed loss. Or with a profit if you set your S/L into zero value.
A «Take-profit» is basically the same order, but working in a reverse way, i.e. after the price reaches the set value, your position will be automatically closed with a fixed profit.
For instance: as you open a long position (long means buy), you open a buy position up at Ask price, and close it at Bid price. In this case you can set “Stop-loss” under Bid price and “Take-profit” over Ask price. Subsequently, as you open a short position (short means sell), you open a sell position up at Bid price, and close it at Ask price. In this case you can set “Stop-loss” over Ask price and “Take-profit” under Bid price.
Now let’s assume you want to Buy 1 lot EUR/USD. You open a new order, request the current quote, select the required currency pair, enter the volume in lots, set the S/L and T/P (if needed) and press “Buy”. You have bought at Ask price 1.2453, which means Bid at that time was 1.2450 (spread is 3 points). A “Stop-loss” order can be set under 1.2450. If you set it at 1.2400, it means that if the Bid price reaches 1.2400 your order will be automatically closed with a 53 points loss. A “Take profit” order can be set over 1.2453. If you set it at 1.2500, it means that if the Bid price reaches 1.2500 your order will be automatically closed with a 47 point profit.

These are orders which will be opened when the price reaches the value set in the orders. A Buy/Sell Limit is executed only when the market price is (or is better) than the price set in the order. Buy Limit is usually placed under the current market price and Sell Limit is placed above the current market price.

Buy/Sell Stop is executed only when the market price is (or is worse) than the price set in the order. Buy Stop is usually placed above the current market price, and Sell Stop is placed under the current market price.

For all currency pairs the order price must differ from the current market price (Bid or Ask, depending on the order direction) for at least a size of spread. You can not place any pending order closer to the current market price than it is stated in the contracts specification (see “Stop&Limit”).

At present "Liteforex" offers 2 account types, “Lite” and “Real”. Since the 2 account types function on 2 different servers, you can only open a new account of the type you want. Please note that if you want to transfer funds between the accounts, the account data must be the same in both accounts. You can also be asked to provided your ID scan.

Leverage is a ratio of the margin sum to the credit given (1:100, 1:200, 1:500). 1:100 leverage means that you need to have a 100 times less sum on your deposit than it is required to open an order.

Liteforex offers the following leverages:
For “Real” accounts 1:50 to 1:200. For “Lite” accounts 1:100 to 1:500. You can select it yourself upon account opening. You can also change your leverage by contacting your manager via terminal mail or ICQ. Closing of currently opened positions not required.

This is because the position prolongation is performed through short Roll-over or Swap (Tom/Spot) operations. Roll-over consists of 2 controversial positions with the same sum, but different dates (Tom – tomorrow, Spot – the second working day) and slightly different rates. Roll-over is an artificial closure of a position and a simultaneous opening of the similar position on the next date, taking into account the difference in the percent rates of the two currencies.

Depending on the position direction (buy or sell), the client gets (or pays) some sum for the position roll-over (it usually ranges from a tenth of a point to several points). When a position is rolled over from Wednesday to Thursday, the sum is triple.
Why does the customer have to pay for a position roll-over? Because upon position opening he received a credit in a currency he sells, and must pay interest. At the same time he put the purchased currency to a deposit and gets some interest for it too. The bank rates for these currencies differ, therefore a gap appears, which is considered during the position roll-over. If a customer sold a currency with a higher bank rate – he will pay for the roll-over. And if he purchased a currency with a higher bank rate, broker will pay him for the roll-over. Usually it is all calculated automatically.

The company has a right to close customer’s positions without notifying him, in case equity is less than 20% of the required margin (for opened positions). If several positions are opened, the company can close one or several of them, starting from the one, generating the largest loss. The trade account condition is controlled by the server, which closes all positions automatically, if margin level reaches 10% (or less) for “Lite” accounts. This situation is called “Stop Out”. It is performed by the current market price. For real accounts the values are 50% and 20%.

Obviously there were not enough funds on your account to keep the position opened. As soon as the margin level reaches 10%, the server automatically closes all the positions. This event is also recorded in log files with a comment “stop out”. If several positions are opened, the first one to close will be the position with the highest floating loss.

You can keep it open as long as you want, but note that you will have pay (or receive) swap for transferring your position through every night.

“Support” and “Resistance” are technical analysis notions from the classic theory by J. Dow. Support level is a level lower than the current market price from which the trend, supposedly, can turn upwards. Resistance level is a level higher than the current market price from which the trend, supposedly, can turn downwards.

Money management is a system providing certain rules for accepting risks and including strict rules for trading. It is a stable, independent from time and situation, tactic of orders opening, a sum of fundamental and technical analysis, a striving for finding the best points to enter the market. This notion has become wider recently due to constant traders’ interaction on forums and communities, lost its concrete character, but become easier to explain.
Thus, according to this new view of Money Management (or MM), it is considered a set of simple principles: do not put more than 1% of your deposit under risk for each order; use “no entrance” principle (it is better to wait for better points to enter the market and avoid orders at arguable levels); put S/L’s at 40-60 points from the open price; do not hunt instant profits (20-30 points), but concentrate on the long-term orders,. Which are more profitable and less risky; always keep technical and fundamental pictures in mind and make them the main reason for entering the market.

In general, long-term positions are those, which are supposed to last several months or even years. Mid-term orders are those, the goals of which should be attained in the nearest 1-3 weeks. Such wording of the terms is spread within banks and investment funds, and is also used by market analytics in their prognoses.
There is another scale between traders. Orders within 1 day are called “Intraday”, orders lasting several days are called “short-term”, mid-term – for a week or 2, long-term – for a month and more. This scale is, of course, unofficial, and is spread within self-traders.

Figure often means 100 points of profit, or market movement to 100 points. It can also mean some “round” numbers. E.g. “EUR/USD is moving through the 17th figure” means it passes 1.7000 level.

"Liteforex" is not an educational company, but we can offer 2 ways of purchasing the literature:
1) In special bookstores
2) A lot of literature is available in the internet, just use Google. You can also consult in our Customer Department.

SIG-Demo.com: 66.36.229.176:443 – for demo accounts,
SIG-Lite.us: 203.194.142.28:443 – for cent accounts,
SIG-Real.us: 203.194.142.25:443 – for dollar accounts.

F9 – new order
Ctrl + T – open/close terminal window,

Ctrl + O – open properties,
Ctrl + N – show navigator window,
Ctrl + Y – show period dividers on chart,
Ctrl + L – show volume on charts.

There is a user guide in the terminal itself. Press F1 to open it. You can also download it from the developer’s website at http://www.metaquotes.ru/userguides/. The developer’s forum is located here: http://www.metaquotes.ru/forum/.

The online guide is here: http://www.metaquotes.ru/experts/mql4. A forum dedicated to MQL programming is here: http://forextask.com/.

You need to download the terminal from http://liteforex.org/downloads/sig4setup.exe and install it. After that go to top menu “File” -> Open account.

Demo account password can’t be restored. If you saved an internal mail with your demo account registration data you can find your password there. Otherwise you will have to open a new demo account.

Right-click on any tool in your market watch window and select “Show all symbols”.

The following happens when you set a trailing stop (for X points): terminal waits until the position reaches the profit of X points. After that it sets a S/L at the distance of X points from the current market price (in our case it is a “lossless” level). If it receives a quote, when the distance between the current market price and the S/L is bigger than X – it sets a new S/L at X points from the current market price. This way S/L follows the price at the distance of X points.
Thus, trailing stop is an algorithm of S/L management – to follow the current market price.

Please note that trailing stop is an internal terminal function and works only when your terminal is up and running. If you put a trailing stop and close your terminal, the server will remember only the last S/L.

There is no automatic reverse yet. However, it can be done manually in several ways:
1. Open a reverse position and then close the first position
2. Open a reverse position with a volume twice higher than the first position’s volume, and then select option “Close overlapping positions”. Only the reverse position will remain. In this case you avoid paying spread for 2 positions.

As a customer opens an account via your referral link, you get a notification in your terminal mail. The commission for each customer order is 1 pips. The commission is paid only when the profit or loss on this order is over 3 points. Please note that the commission for referral accounts older than 1 year is not paid. If your customer’s account is older than 1 year he should open a new one.

Yes. To install a new expert you need to copy it to C:\Program Files\Straighthold Trader\experts and restart the terminal. After that you will see your expert in the Navigator window.

A lot of them are available here: http://codebase.mql4.com/.

If the “New order” button is inactive, it means you logged into your account under Investor password. Re-login to your account under trader’s password. It allows complete account management; only under it you can open, close or edit positions. It is also used during funds deposit/withdrawal for account verification.
Investor password is for a view-only access.

If “Sell” and “Buy” buttons are inactive, it means you have a wrong volume selected. For “Lite” accounts minimal volume is 0.1 lot and maximal is 100 lots. For “Real” accounts minimal volume is 0.01 lot and maximal is 100 lots. For more details see Account Types.

This can happen due to the following reasons:
1) You use wrong server when trying to log in:
SIG-Demo.com: 66.36.229.176:443 – for demo accounts,
SIG-Lite.com: 208.101.35.42:443 – for cent accounts,
SIG-Real.com: 209.160.40.59:443 – for dollar accounts.
2) You enter an incorrect password
3) You didn’t log in to your account for a long time and it was deleted or blocked. Contact your manager to unlock your account.

Possible reasons:
1) You have no internet connection
2) Port 443 is blocked in your network

3) You firewall is blocking port 443. Add Metatrader as an exception.

In the market watch window the time is GMT +2. You can’t change it.

This message appears when a trade operation has failed (e.g. when you try to open a new order, when the previous one is not yet processed), due to server connection failure. To erase the query queue it is necessary to reboot your terminal.