FAQ

The Support Level is the level at which most buyers enter a trade and is typically the line at which the price of a security finds difficult to fall below. The Support Level is also a good way to test the price of a security because if the price falls below the Support Level the security is wiped out and if it bounces back up it will signify that buyers have entered the trade and it will be reconfirmed.

The Resistance Level is the level the price of a security reaches but finds it difficult to exceed because the number of sellers for that security begins to surpass the number of buyers.

This is an order placed by investors when they are willing to buy a security at a specific price and no higher. By placing this type of order the investor secures a guarantee that they will pay the ‘limit’ price or less to purchase the security they want. Please note however that the guarantee here is for the price only and not for the actual filling of the order, so if the price specified is not reached, the order won’t be filled. For example: If the current EUR/USD rate is 1.25, you can place a Buy Limit Order for 1.24. As soon as the rate for EUR/USD reaches 1.24, your order will be executed at that price.

A Stop order or Stop-loss order is placed to buy or sell a security as soon as its price exceeds a specific level. Investors place these orders to have a predetermined entry/exit point set, as this can both limit losses and lock in profits even in high paced markets. The point at which the price exceeds the specified entry/exit point is the point when the stop order turns into a market order.

Swap is the difference in the interest rates of the Central Banks for each currency plus the broker’s commission when the positions are carried forward overnight. The swap can be positive or negative depending on the interest rates of the currencies in question.

Swap is calculated at 23:59:59 – 00:00:00 (EET), Monday to Friday. In the Forex spot market the delivery of a security or commodity is settled on the second working day after the deal. Therefore when calculating the swap for any orders held from Wednesday to Thursday, the charge will be 3 times the normal size as it includes the fees for the weekend.

CFD stands for Contract for Difference. CFDs are contracts between buyers and sellers agreeing that the seller will pay the buyer the difference between the current value of a security and its value at the time the agreement was made. Moreover, a CFD is a speculative instrument and while trading CFDs on other assets the trader does not become the owner of this asset in reality.

Pip stands for Percentage in Point and it is the measurement used to express a change in the exchange rate between two currencies.

Leverage is the ability to trade larger amounts of currency with a smaller deposit amount. For example with a $200 deposit and a leverage of 1:500, a trader could trade up to $100,000 worth of currency. Trading on Leverage allows traders to control large amounts of capital and therefore can provide a faster Return on Investment, however, if not used in conjunction with a proper risk management strategy can incur heavy losses as well.

The Base currency is the first currency quoted in a currency pair. For example, in the EUR/USD pair, the Base currency would be the EUR.

The Equity of an account represents the total account balance including any credit, floating profit or loss generated from currently open positions.

Margin is the amount of funds needed/used to open a position.

This is the amount of available funds in your account that can be used as a margin for new positions.

Margin Level is the ratio of your equity to your margin.

Spread is the difference, usually indicated in pips, between the Bid and Ask price.

This is the minimum price at which a broker/dealer is willing to sell a security. This is the same as the “offer” price. Clients’ Buy orders in MT4 are opened with the Ask price.

This may happen due to various reasons. For example, because you do not have enough free margin available in your account, or you have hit the maximum number of lots/trades set for your account. If this persists, please contact your Account Manager

These can be modified by double clicking on the order or with a right click and then “Modify or Delete Order” in the trade tab in the terminal window. You are not able to modify or delete SL/TP once the price has been reached.

No. The person who registers and opens the account with us should be the only person trading on the account. Your friend or family member will need to open his own trading account if he wishes to trade. Additionally, we insist that you do not share your trading password with anyone, not even your account manager. Eightplusmarkets will not be held responsible if the client shares his trading password.

If you wish to close a position and you cannot connect to the internet, please Contact Us.

We only offer floating spreads, which means that, according to the volatility of the market the spread might widen due to our liquidity providers

Profit is made from the difference of buying/selling a currency and its subsequent selling/buying at a better rate. For example: If you buy EUR/USD at 1.42000, you are buying euros and selling US dollars. You are speculating that the euro will go up against the dollar. If the price then rises to 1.42500 and you decide to close your trade at this price, you will have made a profit of 500 points. If you bought 1 standard lot of EUR/USD which is 100,000 units of currency, your profit would have been $5000.

To save your trading account history please follow the following steps: Login to your MT4 trading platform Look at the bottom of your screen for the “Terminal” window. If you cannot see this, press Ctrl+T on your keyboard and it will appear. Select the “Account History” tab and right click on the new window that pops up Select “Save as Report” or “Save as Detailed Report” and select where you wish to save your file Finally click “Save”. Please note that your history will be saved as an .html file that can be viewed outside the trading platform. You can open .html files in Windows by dragging the file into an internet browser window. Mozilla Firefox, Google Chrome or Internet Explorer should work for this purpose.

Any new position you open will automatically open on a negative value due to the spread being applied at the time of opening a trade.

Please ensure that you are selecting the correct Lot size, and the Stop Loss/Take Profit is being set correctly (correct number of pips off the Market Price).

First you must download the MT4 trading platform from the “Downloads” section. A window will appear with mt4setup.exe – please click on “Save file” to save the file on your PC and follow the instructions below: Double click the file to open it. Click Run and allow the program to run if asked for further permissions. In the new window that appears, please tick the box “Yes, I agree with all terms of this license agreement” if you agree with the terms and conditions outlined in the window. Now click “Settings” if you want to change the installation folder, otherwise click Next.

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. 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.

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.

As a beginner you can simply track the general direction of the price on the chart and open buy orders when it goes up and sell orders when it goes down. This may not guarantee you profit in all cases, however it is a good start for developing your strategy. If you have little to no experience yet, it would be advisable to avoid trading during major news releases since the market tends to be highly volatile. Two more advanced methods of price prediction are technical analysis and fundamental analysis. Basic risk management techniques may also prove beneficial in reducing losses.