- 1. Questions about Client's Profile
- 1.1. What is Client’s Profile (personal profile of a Client)?
Client's Profile (https://secure.liteforex.com/) is a protected area of LiteForex’s site, which enables you to conduct a variety of non-trading operations. After creating Client’s Profile, you can open and close your trading accounts, deposit funds or withdraw funds or carry out internal transfers between the accounts. In addition, using Client’s Profile, you can check out your personal information, change the password, leverage, status of your accounts, and conduct many other non-trading operations associated with account control and your personal information.
- 1.2. How to create Client's Profile?
In order to create Client’s Profile, click on the link https://secure.liteforex.com/profile/register, in the section “Register”, where you shall enter information into all the fields, paying attention to the tips, which will pop-up on the right-hand side. Then click on “Continue”. To log in to the Profile, please enter your e-mail address and password on the login page: https://secure.liteforex.com/profile/login.
- 1.3. Why do you need to give answers to the secret questions following the creation of the Profile?
As soon as you create your Profile, you are requested to answer secret questions (Date of birth, your Mother’s maiden name and the answer to a secret question, selected by you). Only Latin characters shall be used. This secret data is required to provide security of the clients’ data and you are strongly recommended to enter required information after creation of Client’s Profile. Secret information entered by a Client in this section will be required for changing or recovering the password, ordering payment cards and also in case of changing personal information and other operations with Client’s profile.
- 1.4. How many profiles can a Client have?
According to the policy of our Company, a Client is only permitted to have one profile. However, each Client is entitled to have up to ten active trading accounts in his/her personal profile. The number of active trading accounts, permitted to operate at the same time in the Profile of a Client can be increased upon your request through the General Customer Inquiries Department.
- 1.5. How to confirm your e-mail?
In order to activate your e-mail address, click on the link “Activate” opposite the icon “E-mail status” on the page of Client’s Profile (https://secure.liteforex.com/profile). After that you will receive a letter by email, with a code of activation for your e-mail and you shall enter this code on the opening page. If you haven’t received an activation code, please contact our General Customer Inquiries Department via LIVE CHAT or other communication facilities.
- 1.6. How to verify your telephone number?
In order to verify your telephone number, log in to your Client’s Profile and click on the “Client’s Profile” button. In the right hand column click on the sign “Verify” and enter the characters from the image. If your phone number has been identified as a mobile, an SMS with a code will be forwarded to you. You will need to indicate this code in a special form in order to verify your number.
If your phone number has been identified as landline, we’ll call you back to verify your phone number. If you haven’t received a code and nobody called you during a business day, please contact our General Customer Inquiries Department via LIVE CHAT or other communication facilities.
- 1.7. How to update information about your telephone number?
In order to update the information about your telephone number, log in to Client’s Profile and go to the “Client’s Profile” section. In the right-hand column click on the icon depicting a pencil , next to the phone number, and enter a new telephone number; then click on the icon with the tick symbol . After that you shall confirm changes, giving the answer to the secret question. Please note that a modified telephone number requires re-verification.
- 1.8. How to update your residential address?
In order to update your residential address, log in to the Client’s Profile and go to the tab “Client’s Profile”. In the left-hand column click on the icon depicting a pencil , next to the residential address, enter your new address and then click on the icon with the tick symbol . After that, confirm changes by answering the secret question. Please note that a modified residential address requires re-verification.
- 1.9. How to verify Client’s Profile?
For the full verification of the Profile, you shall first of all fill in all information fields (Country, Region, City, postal code, address), giving only trustworthy information. After that, upload colored copies of the documents, confirming your name and address. In order to do this, you shall log in to your Client’s Profile and go to the section “Client’s Profile”. In the right-hand column in the field “Client's identity docs” click on “View/Upload” and follow the prompts.
- 1.10. What documents does the Company accept for verification?
The documents confirming identity shall be issued by a legal government agency and shall contain a photo of the Client. It can be the first page of internal or international passport or a driving license. The document shall be valid for at least 6 months from the date of completing the application. Each document shall specify validity dates.
The document confirming your residential address can be the page of your passport indicating residential address (in case the first page of your passport was used to confirm identity, both pages shall have serial number).
A residential address can be confirmed with utility bill containing the full name and actual address. The bill shall be not older than three months. As the proof of address the Company also accepts bills from internationally recognized organizations, affidavits or bank statements (mobile phone bills are not accepted).
Uploaded documents shall be colored, legible and uploaded in jpg/jpeg format. The size of the file shall not exceed 1 Мb.
- 1.11. What is a status of the Profile? Where is it displayed?
The status of the Profile shows verification grade of this Profile. It appears as a colored tab “Show User Info” on each page of the Profile. Green color means full verification of the Profile. Please note that verification of the Profile is not necessary and required only under special circumstances: to conduct transfers involving banks or bank cards; to open a PAMM account as a Manager; to order the VPS service; to use the function “Auto-withdrawal” up to two times a day for the total amount of $100. There are two types of verification:
1. PROFILE STATUS: BASIC
Deposits and withdrawals can be conducted only through payment systems, which do not use credit cards. Bank transfers are not available. Auto-withdrawals are available in a limited mode. In order to lift these restrictions, you shall verify your Profile.
2. PROFILE STATUS: CONFIRMED
You do not have any restrictions related to methods of withdrawals or deposits. Automatic withdrawals are available. In order to avoid delays in the processing of transactions, please make sure that your Profile always contains updated information and the payment system selected for withdrawals corresponds to the method used for deposits.
- 1.12. How to open a trading account?
A trading account is opened in the Client’s Profile. If you have not yet registered your profile on the site www.liteforex.com, please carry out registration procedures as indicated in clause 1.2. After that you will be able to operate your trading account in full capacity. You can open a trading account with the help of the tab “Open new account.” There you can choose a type of platform, type of account, account currency and desired credit leverage. You can find details of all trading accounts at: http://www.liteforex.com/trading/account-types/.
- 1.13. How to change password to access Client’s Profile?
If you have forgotten or wish to change your access password to Client’s Profile, use the password recovery option located on the client profile login page (Forgot password?) You can also contact General Customer Inquiries Department requesting them to change your password, where a manager will ask you to provide required identification data. It is recommended to set up a complex password using letters, numbers and special characters. The data on your password shall be kept secret and secure.
- 1.14. How to change trader’s password to access your trading account?
In order to change trader’s password, please log in to the Client’s Profile, choose the tab “Trading accounts” and click on the number of account with the password which you are going to change. After that, in the left-hand column select the option “Change password” which is located next to the field “Trader’s password”. Then indicate your new trader's password and confirm it.
- 1.15. How to change credit leverage?
In order to change credit leverage, log in to your Client’s Profile and click on the tab “Trading accounts” then click on the number of account whose credit leverage you are going to change. In the left-hand column click on the icon depicting a pencil next to the existing leverage size, press the tick icon and confirm changes by giving the answer to the security question.
- 1.16. How to get access to terminal mail via Client’s Profile?
In order to get an access to terminal mail via your Client’s Profile, select the tab “Trading accounts”. Then click on the number of account whose terminal mail you would like to view. Account Statistics page will be opened and you will see the tab “MT4 Mail”.
- 1.17. How to zero out the account?
In order to zero out the account, please log in to your Client’s Profile, click on the tab “Trading accounts”, and press the arrow button that is located in the column depicting a spanner opposite the account number that you are going to zero out. After that, confirm changes giving the answer to the security question. Note that bonuses will be also zeroed out, since bonuses are accrued for a certain deposit and will be subject to writing off as well.
- 1.18. How to delete the account?
In order to delete the account, please log in to the Client’s Profile, click on the tab “Trading account”, press the cross button that is in the column depicting the basket opposite the account number that you are going to delete. After that, confirm changes by answering to the security question. Note that a trading account can be deleted not earlier than a month after its opening.
- 1.19. I forgot the answers to the security questions, which I indicated in the Profile. What shall I do?
Please send a request to recover security data to firstname.lastname@example.org. In your letter please specify the e-mail address of your Profile, your full name, date of birth, telephone number, account numbers and their phone passwords. Attach a copy of your passport that shows your name and date of birth.
- 1.20. How to register in affiliate programs?
In order to register in affiliate programs use the tab “Affiliate Programs” in the Client’s Profile. After that, select the tab “Internet partner”. If you have any questions, please contact our Department for affiliates at email@example.com; Skype: affiliate_liteforex
- 1.21. How to restore account from the archive?
If trading operations have not been conducted on the trading account for 3 months and the balance of the trading account is less than 1000 USD, the account will be archived to make space on trading server. In order to restore your trading account, you shall find it in the table “Information on archived accounts” on the page of Client’s accounts and click on the icon “ - Restore account”. As soon as you give the correct answer to the security question, your account will be recovered.
- 1.1. What is Client’s Profile (personal profile of a Client)?
- 2. Financial questions, deposits and withdrawals
- 2.1. How to top up your trading account?
You can top up your trading account via your Client’s Profile (https://secure.liteforex.com), using electronic payment systems “Webmoney”, “Skrill”, “OK Pay”, “Perfect Money”, “Yandex Money”, Neteller or QIWI.
In order to top up the account with the help of your credit card, you can use several intermediary payment systems. You can also deposit money in your account through the bank wire transfer. To select the method to top up your account, press the button “Deposit” in the Profile and choose the tab with the required option. Please note that the bank wire transfer is available only if your Client’s Profile has the status Confirmed (see the clauses 1.9, 1.10).
- 2.2. The company’s rules regarding deposit and withdrawal operations.
Please take note of the Company’s rules of depositing and withdrawing of the funds from a trading account. These rules are aimed to exclusively reduce risks involved in these operations and to provide security of funds. Withdrawal of the funds can be carried out only to the same purse and in the same currency, which has been used for topping up. It means that if you top up your account, using Webmoney, you can withdraw money only using the same Webmoney purse, which has been used to top up.
If you wish to use a different payment system, the withdrawal will be possible only if you make a deposit with the help of a new purse and you will be able to withdraw the money to both purses proportionally. This rule is governed by the AML policy. Please note also that transactions for less than 1 USD are not accepted by our operators.
- 2.3. What are the working hours of the Financial Department?
The working hours of the Financial Department: Monday to Friday from 9 am to 9 pm (GMT+2). The funds are deposited automatically through the Client’s Profile https://secure.liteforex.com/. Please remember that direct deposits to our purse are not automatic. After such transfer, you shall contact our Financial Department and inform them about the transfer. You can reach them via ICQ or email, using internal terminal mail or Live Chat. You shall provide the following information:
the date and approximate time of transfer;
exact amount of funds;
number of your purse;
number of purse to which you have transferred the funds;
number of the trading account to which the funds shall be transferred.
Note that transfers from purse to purse are not automatic and require more time for processing. Please top up your accounts via Client’s Profile to avoid delays.
- 2.4. Is the account deposit volume limited?
There are no limits. However, it is recommended not to deposit over 3000 USD in the CENT accounts. The amount you need to conduct trading operations in accordance with your trading strategy can be calculated by using Trader’s calculator. You can find more detailed information about the types of accounts on the page “Тypes of trading accounts”.
- 2.5. What commission is charged for topping up trading account?
The LiteForex Company does not charge commission for topping up a trading account. You only pay the commission to payment systems, which you use to top up your trading account.
- 2.6. I transferred money to account through the Client’s Profile, however the transfer has not been made.
In order to find a lost deposit, you shall contact the Financial Department using the most convenient way for you and provide the following information:
- Number of your trading account;
- Number or ID of the purse in payment system, which has been used to transfer money;
- The amount of transferred funds;
- The date and exact time with the time zone;
- Transaction number (if available).
- 2.7. How to transfer money from one account to another?
Provided that all accounts belong to you and are located in the same Profile, money transfer from one trading account to another can be carried out automatically in the Client’s Profile by clicking on the button “Transfer”. This type of transaction can be made by the Clients themselves without the help of Financial Department of the Company. Money is transferred from one account to another instantly. The number of internal transfers is limited to 50 operations a day.
- 2.8. How can I withdraw money from the trading account?
You can withdraw money from the trading account in your Client’s Profile, clicking on the button ”Withdrawal”, and using the same payment systems, which have been used to top up the account. Please take note of the Company’s Policy AML (the funds can be transferred to the same purse and in the same currency, which has been used for topping up). Please give attention to the level of verification required for different types of withdrawals.
- 2.9. I applied for a withdrawal, which has been cancelled and the funds have been transferred back to the trading account? Why?
There are several reasons why your withdrawal application has been cancelled:
- The money laundering policy has been violated;
- A withdrawal has been requested through an electronic payment system which differs from the payment system that has been used to top up;
- The purse you used to top up this trading account differs from the purse to which you are going to withdraw money;
- The deposit currency is different from the withdrawal currency;
- Other reason. To find out the reason you shall contact the Financial Department using the most convenient way for you.
- 2.10. What is “Protection code”?
A protection code is a code, which you receive by internal mail (terminal mail) in the course of withdrawal process by means of Webmoney. When the request has been executed and money has been transferred to your purse, you shall finalize operation, entering the protection code.
- 2.11. Withdrawal requests processing.
Withdrawal requests are processed manually by the Financial Department during its working hours. According to Public Offer Agreement the transfer is performed on a first-come-first-served basis within 1 working day from the date of request. Kindly pay attention to the fact that if you use the bank wire transfer, it can take up to 5 working days to process your transaction, depending on operation speed of the sender’s and beneficiary banks.
- 2.12. What is instant withdrawal?
This type of service ensures that some withdrawals are handled automatically, enabling to reduce the queue-list of withdrawal requests. You are entitled to carry out two instant withdrawals per day provided that the amount of these operations will not exceed $100 and your Profile’s status is Confirmed. If status of your Profile is Basic, then you will be able to carry out one instant withdrawal per day and the amount of your withdrawal shall not exceed $50. Terms and conditions of this type of service are described here.
- 2.1. How to top up your trading account?
- 3. General questions
- 3.1. Company's working hours
Customer Service and Financial Departments work from 9:00 to 21:00 (GMT+2) every day Monday to Friday. Technical support service and trading operations group work 24 hours from 00:00, Monday, to 23:59, Friday (time of the server, see. p. 4.16).
- 3.2. Schedule of quotes
Quotes are issued in accordance with the schedule of quotes as follows: 24 hours starting from 00:00:01 (according to the time of the terminal, see p.4.16), Monday, until 23.59.59, Friday, with an interval gap from 00.00.00, Saturday, to 23:59:59, Sunday.
CFDs are quoted during sessions. The schedule of sessions is from 16:30 to 23:30 (according to the time of the terminal, see p.4.16), from Monday to Friday. Since the shares are provided by the New York Stock Exchange, the quotes are issued during the working hours of the exchange.
The schedule of sessions as per the time of the terminal is here.
- 3.3. How to contact experts of the Company?
All contact details are indicated at the contact page of the Client’s Profile. However the most convenient way to contact the Company’s expert is LIVE CHAT, as all departments of the Company are represented there at all times. You can also contact us by email, phone, Skype or using the “Callback” option.
- 3.4. How to request a callback?
You can find the request form at http://www.liteforex.com/callback/, fill it in and forward your request to our manager, who will call you at the specified time. The blue button “Call back,” which is located in the right-hand corner of every page of the web-site has the same function.
- 3.5. What is a phone password?
A phone password is an easily recognizable word, which will be used to identify you as the owner of the account when you contact the Company’s employees. When a new account is opened, a phone password is generated automatically. It is recommended to use the word or figures, which you can easily remember. In order to do this, please log in to your Client’s Profile, click on the tab “Trading accounts,” after that click on the account number, whose phone password you are going to change. In the left-hand column click on the pencil icon next to the current phone password. After that, confirm changes, answering the security question.
- 3.6. What bonuses can I get from the LiteForex Company?
Information about all bonuses and promotions offered by the LiteForex Company is available at http://www.liteforex.com/promo/bonuses/.
- 3.7. I was supposed to get a bonus but I didn’t - what shall I do?
Please use Live Chat or send your request to the department dealing with bonus programs – firstname.lastname@example.org.
- 3.8. What are the Company’s contests?
Information about all contests held by the LiteForex Company is available at http://www.liteforex.com/contests/.
- 3.9. What’s Pips Back from LiteForex?
The Pips Back program has been designed for rebating some spread from each closed trade. Traders using the Pips Back program may get up to 0.7 points repaid per trade. Affiliate commission for the same trade amounts to 0.7 points, which allows you to use the Pips Back program for bringing in new referrals. More details on the program are to be found here.
- 3.10. How do I register for Pips Back?
Two conditions are necessary to becoming a participant: join the VIP Club of LiteForex (see p.6.2) and activate the promo code PIPSBACK when making a deposit into your account. The conditions of working under the Pips Back program are specified here.
- 3.11. What types of accounts are provided by the LiteForex Company?
The LitеForex Company provides 5 types of trading account: training accounts DEMO, CENT accounts and CLASSIC accounts with fixed spread, ECN accounts with floating spread, and PAMM accounts designed for investing and managing funds. Please use the link http://www.liteforex.com/trading/account-types/ for more information on these types of accounts.
- 3.12. How to change the type of account?
Different types of trading accounts correspond to different servers; hence you cannot change the account type. The only way out is to open a new account on a different server in your Client’s Profile. You can transfer money to new account from the old one with the help of the "Transfer" button in the Profile.
- 3.13. What is the difference between a demo account and a live account?
A demo account is perfectly suitable to familiarize Clients with the Forex market. This type of account does not require making deposits but profit gained as a result of trading operations cannot be withdrawn. Conditions of work in demo accounts are similar to conditions of work in live accounts: the same procedure of transactions, the same rules of requesting quotes, the same parameters for opening positions.
- 3.14. How to open a demo account?
- 3.15. How to recover the password from a demo account?
If you have opened your demo account via your Client’s Profile (the secure zone of LiteForex’s website), you can use the automatic password change option. To change the trader’s password, please log in to the Client’s Profile, click on the tab “Trading accounts” and select the number of account whose trader’s password you wish to change. Next, choose the option «Change the password» in the left-hand column right after the field «Trader’s password».
Also, when opening a new account, a letter containing the account login and password is always sent to the client’s email.
If you have opened your demo account directly through the trading terminal, the letter containing the registration data could not be stored in your email box and therefore, you have to open a new demo account. It’s impossible to recover or change the passwords from the demo accounts that are not opened through your Client’s Profile.
- 3.16. How to top up demo account?
To top up your demo account opened via Client’s Profile, please log in to the Client’s Profile, click on the tab “Trading accounts” and select the number of the demo account you wish to top up. In the window that opens please click on the «Deposit» button, located at the foot of the table.
You cannot top up a demo account opened directly in the trading terminal. In this case you need to open a new demo account.
- 3.17. What are multi-currency accounts?
Multi-currency accounts make it possible to conduct deposits in different currencies simultaneously. It can be Roubles, Swiss francs, Euro or USD.
- 3.18. What is ISLAMIC ACCOUNT (SWAP-FREE)?
ISLAMIC ACCOUNT is an account that doesn’t charge fees for carrying over open positions to the next day. This type of account is intended for those clients who are not allowed to conduct monetary operations involving interest payments owing to their religious beliefs. Another widely-spread name of this type of account is “swap-free account”.
- 3.19. Is it allowed to open an Islamic account?
Yes, it is. Our company provides this service. To do so, you need to download an application form here. Read the service conditions carefully,print out the application and sign it. Then, upload an electronic copy of the signed application into the relevant section of your Client Profile. In order to do this, you shall log in to your Client’s Profile and go to the section “Client’s Profile”. In the right-hand column in the field “Client's identity docs”, click on “View/Upload” and follow the prompts.
Please note, that your application does not guarantee that your account will be transferred to the Islamic Account category. The company provides access to the service at its own discretion.
- 3.20. What is credit leverage?
Credit leverage is a ratio between the deposit and allocated borrowed funds: 1:100, 1:200, 1:500, and 1:1000. Credit leverage 1:100 means that you shall have in your trading account an amount, which is 100 times less than the one required to open an order.
- 3.21. What leverage is provided by the LiteForex Company?
The following leverage sizes are available to LiteForex’s clients, depending on their account types:
from 1:1 to 1:1000 in CENT accounts;
from 1:1 to 1:500 in CLASSIC accounts;
from 1:1 to 1:400 in ECN accounts;
from 1:1 to 1:200 in PAMM accounts.
You can choose the size of leverage when you open your trading account. Later, you can change it via your Profile by using the corresponding option in the account review section. This procedure does not require you to close opened or pending orders.
- 3.22. Does the Company provide asset investment service (PAMM-accounts)?
Yes, the LiteForex Company provides the system of PAMM accounts. Asset investment is an option giving you a chance to entrust your funds to a trader, who has successful experience of work in the Forex market and who can multiply your funds. A client can create a PAMM project and act as a Manager or invest money in existing projects. On Company’s website in the section PAMM at http://www.liteforex.com/asset-investment/ you can review the list of managers and choose the one you prefer, learn specifics of his/her work, contact him/her if necessary, discuss the strategy and invest your funds in the PAMM project of this Manager.
If you have any questions about PAMM accounts, you can learn FAQ related to this system at http://www.liteforex.com/asset-investment/pamm-faq/, or ask questions in Live Chat.
- 3.23. What is VPS of LiteForex?
VPS (Virtual Private Server) is a virtual dedicated server, which operates round the clock and maintains permanent connection with Internet. This server gives you a chance not to spend all your time in front of the computer and at the same time to control the work of the trading platform. Due to the fact that VPS is operating non-stop, your trading terminal is always on. VPS from LiteForex can be requested only through Client’s Profile (see p.6.8). Note that this service is available only if your profile status is Confirmed.
- 3.24. How to log in to the VPS?
On your desktop click on the button Start –> Run, then enter ‘mstsc’ and press OK (or click on the button Start and select the line “All programs” “Accessories” and “Connect to remote desktop”.) Then, enter IP of the server which you have received by e-mail after your request for VPS has been approved, and press the button “Connect”. In the Form, which will pop up, enter login and password, received by e-mail.
- 3.25. How can I use my devices and resources on VPS?
You may redirect many devices on your computer (in other words, you can continue using your devices, connected to local PC), including printers, drives, some USB devices and clipboard. Open Remote Desktop Connection. Click Options, and then pass to Local Resources’ tab. In Local devices and resources group, select the devices or resources you want to redirect. To see additional devices, or redirect Plug and Play devices or drives and devices that you plug in later, click More. Put a flag next to each device that you want to redirect.
- 3.26. How to resize desktop on VPS from LiteForex?
On your desktop click the button Start –> Run, then enter ‘mstsc’ and press OK (or click on button Start and select the line “All programs” “Accessories” and “Connect to remote desktop”.) Click on "Options" then click on the "Display" tab. On "Display configuration" settings, you can change the "Remote Desktop Connection" display by moving the slider from "Small to Large". By moving the "Slider" all the way to large, the display settings will automatically set to "Full Screen".
- 3.27. Where can I find literature about the Forex market?
LiteForex is not an educational company; however we can recommend four ways to find literature:
1) In specialized bookshops.
2) A lot of literature is freely available in Internet - just use any of search engines and you will find many books written by different authors.
3) There are some special Forums devoted to Forex market, which can also provide interesting and useful information for you.
4) On our website: http://www.liteforex.com/beginners/ you can find information for beginners.
- 3.1. Company's working hours
- 4. Technical questions, trading terminal questions
- 4.1. What are the IP-addresses of trading servers?
18.104.22.168:552 – for demo accounts;
22.214.171.124:556 - for NDD and PAMM accounts.
- 4.2. What kind of trading platforms does the LiteForex Company provide?
Three types of terminal are currently provided for trading in both demo and real accounts: MetaTrader4 (MT4), MetaTrader5 (MT5), and WebTrader MT4.
Besides a basic terminal for a Windows-based personal computer, we offer terminals for Android, iPhones and iPads. You can download any version of the terminal here.
- 4.3. What is MultiTerminal?
MetaTrader4 MultiTerminal is designed to manage several trading accounts which are on the same trading server. It will be helpful for traders working with many accounts at the same time.
- 4.4. What are the most convenient and frequently used keys in MetaTrader?
F1 – user guide for the terminal
F9 – new order
Ctrl + T – open/close terminal window within Metatrader window,
Ctrl + O – open a window of terminal settings, where you can enter the data for authorization and set other options of the program,
Ctrl + N – open navigator window,
Ctrl + Y – show period dividers on chart,
Ctrl + L – show volume on charts.
- 4.5. Where can I find a complete user guide for the terminal MT4?
You can find the user guide in the terminal itself. Press F1 in order to review it straight after launching the terminal. You also will be able to download it as well as the user guides to other terminals from the site of the developer at: http://www.metaquotes.net/.
The developer’s forum is located at http://www.metatrader4.com/forum/.
- 4.6. What are “Bid” and “Ask”?
This is a buy and sell price which you can see when requesting to open or close a position. The difference between the Bid and Ask price is called spread. All charts in the terminal show Bid price. You can also set the function allowing the display of Ask price as well. In order to do this, press F8 on the chart window, where in the tab “General” you need to tick “Show Ask Line”. "Buy" orders are opened under the price "Ask" and closed under the price "Bid". "Sell" orders are opened under the price "Bid" and closed under the price "Ask".
- 4.7. What are “Stop loss” (S/L) and “Take profit” (T/P)?
Stop Loss is used for minimizing losses if the security price has started to move in an unprofitable direction. If the security price reaches this level, the position will be closed automatically. Such orders are always connected with an open position or a pending order. The terminal checks long positions with Bid price for meeting this order provisions (the order is always set below the current Bid price), and it does with Ask price for short positions (the order is always set above the current Ask price).
Take Profit order is intended for gaining the profit when the security price has reached a certain level. Execution of this order results in closing of the position. It is always connected with an open position or a pending order. The order can be requested only together with a market or a pending order. The terminal checks long positions with Bid price for meeting of this order provisions (the order is always set above the current Bid price), and it checks short positions with Ask price (the order is always set below the current Ask price).
For example: When we open a long position (Buy order) we open it at Ask price and close it at Bid price. In such cases S/L order can be placed below the Bid price, while T/P can be placed above the Ask price. When we open a short position (Sell order) we open it at Bid price and close it at Ask price. In this case S/L order can be placed above the Ask price, while T/P can be placed below the Bid price. Let us suppose that we want to buy 1.0 lot on EUR/USD. We request a new order and see a quote Bid/Ask. We select the relevant currency pair and the number of lots, set S/L and T/P (if required) and click on Buy. We bought at Ask price 1.2453, respectively, Bid price at that moment was 1.2450 (spread is 3 pips). S/L can be placed below 1.2450. Let’s place it at 1.2400, which means that as soon as Bid reaches 1.2400, the position will be automatically closed with 53 pips loss. T/P can be placed above 1.2453. If we set it at 1.2500, it will mean that as soon as Bid reaches 1.2500, the position will be automatically closed with a profit of 47 pips.
- 4.8. A Stop Loss order has triggered although there was no such price on chart.
This question is often asked by beginners in relation to Sell positions. It happens because traders do not take spread into consideration. Sell order is opened at Bid price; the chart shows this price as well. But order closes at Ask price, which is higher than Bid price by the size of spread. To enable displaying Ask price, press F8 on the chart window and in the tab “General” tick the “Show Ask line”.
- 4.9. What are “Stop” and “Limit” pending orders? How do they work?
These are orders which will trigger when the quote reaches the price, specified in the order. Limit orders (Buy Limit / Sell Limit) are executed only when the market is traded at the price specified in the order or at a higher price. Buy Limit is placed below the market price, while Sell Limit is placed above the market price. Stop orders (Buy Stop / Sell Stop) are executed only when the market is traded at the price specified in the order or at a lower price. Buy Stop is placed above the market price, while Sell Stop - below market price.
- 4.10. On what conditions can the orders S/L, T/P, Stop and Limit be placed?
For all currency pairs the price stated in the order shall differ from the current market price “Bid” or “Ask” at least by the size of spread for this pair depending on the direction of position. You cannot place pending order S/L or T/P closer to the current market price than it’s stated in the “Trading instruments” in “Stop&Limit” column.
- 4.11. What is the “Volume” in “New Order” window and which units is it measured in?
- 4.12. Inactive button “New order”.
If the button “New order” is not active, it means that you have connected to the account using investor’s password. In order to trade on the trading account, use trader’s password. The trader’s password is used to log in to the trading account and enables you to manage it. You can open, close or modify positions only if you use the trader’s password. The investor’s password is used to review the account. Therefore, you can log in to the trading account and view it, but cannot open, close or modify any positions.
- 4.13. The buttons ‘Sell’ and ‘Buy’ are inactive. Have you blocked my account?
If the buttons “Sell” and “Buy” are not active, it means that you indicated the wrong volume of the order. For “CENT” accounts the minimum volume is 0.1 lots and the maximum volume is 100 lots. For “CLASSIC” accounts the minimum volume is 0.01 lots, while the maximum volume is 100 lots. See more details on the page “Account types”.
- 4.14. I cannot log in to my account. The terminal shows the message “Invalid account”
1) You may have used the wrong login. Note that only the digits of account number can be used as login. For example: if an account number is MT4-R-12345, the login will be 12345.
2) You have used the wrong password. Please check your password. If you have forgotten or lost the trader’s password, you can change it in the Client’s Profile. See paragraph 1.12.
3) Probably, your trading account is archived as it has been inactive for three months. See paragraph 1.22.
- 4.15. I cannot log in to my account. The terminal shows the message “No connection”
The reasons can be as follows:
- You have used the wrong server to log in to the trading account. Please use the IP address instead of server.
LiteForex-Demo.com: 126.96.36.199:552 – for demo accounts;
LiteForex-Pamm.com: 188.8.131.52:556 – for NDD and PAMM accounts.
- You have no Internet connection;
- It is also possible that port 443 has been blocked in your network or access to Internet is provided through a proxy server. If you use a network of organization this also can be a reason. Ask your IT Manager about proxy server address and then include it in the settings of the terminal (in the menu “Tools”/”Options”/”Server” tick “Allow proxy server”/ click proxy button/ register address, proxy server port, username and password).
– A firewall (anti-virus software) blocks port 443. Windows’ firewall is also a firewall. In this case it is necessary to include “MetaTrader” in the list of the allowed programs or open the 443 port.
- 4.16. What is the terminal time?
The “Market watch” window shows the terminal time. It’s impossible to change it. It corresponds to GMT+3 in the period from the last Sunday in March till the last Sunday in October. For the rest of the time, it corresponds to GMT+2.
- 4.17. I cannot trade because when I try to open an order, I see the message “Trade stream busy”.
A message “Trade stream busy” appears in case of unsuccessful attempt to carry out a trading operation (for example: when you send a new trading order prior to getting results of the previous operation). It can happen because of temporary interruptions of connection with the trading server. In this case your new order will be queued in the client’s terminal, and this message will appear when attempting to execute any operation. ‘In order to clear the list of requests just restart the terminal’.
- 4.18. Why has the account history disappeared?
If the account history has disappeared, you shall do the following:
1. Check the system date for correctness.
2. Right-click on the tab “Account History” and select “All history”. You can also select the history for any period you are interested in.
- 4.19. How to calculate the cost of point?
You can calculate it with the help of the “trader’s calculator”. The calculation formula is defined as follows:
The cost of point in the currency of the deposit:
(Cross-rate of the currency of the order to USD) х (order volume in lots) х 100000 х (point) / (current rate),
where the transaction currency is the first currency in the pair.
The price of a point (EURJPY) = 1.4344 х 1 х 100000 х 0.01 / 162.3 = 8.83
The cost of point for CFD:
Volume (number of lots) х contract size х minimum value of the change of price
- 4.20. How do I calculate the margin required for opening a position?
The required margin amount can be calculated with the help of the “trader’s calculator”. The calculation formulas are as follows:
Direct quote: Margin=Transaction Volume x Lot size/Leverage x Opening price
For example, Margin=1x100000/200 = 500 (500 EUR) for 1 EURUSD lot with 1:200 leverage. If necessary, convert it into the account currency (for example, USD):
500 x 1.1300=565 USD.
Reverse quote: Margin=Transaction Volume x Lot size/Leverage
For example, Margin= 1x100000/200 = 500 USD for 1 USDCAD lot with 1:200 leverage. Since the first currency in the pair is the USD, the margin is calculated in dollars. If necessary, convert it into the account currency (for example, EUR):
Cross rates: Margin = Transaction volume x Lot size/Leverage x Current rate of the first currency in the currency pair to USD.
For example, Margin = 1x100000/200 = 500 GBP for 1 GBPJPY lot with 1:200 leverage. The margin value is always expressed in the base currency (stands first in a quote). If necessary, convert it into the account currency (for example, USD): 500x1.4400=720 USD.
Margin=Transaction volume x Lot size x Price x Margin%/100
For example, as per specification, for 1 FTSE lot: lot size=1, margin%=1.5, margin currency=GBP
Margin= 1 x 1 x 5570.90 x 1.5/100 = 83.56 GBP. If necessary, convert it into the account currency (for example, USD): 83.56 x 1.4444 = 120.68 USD.
CFDs on shares
Margin=Transaction volume x Lot size x Price x Margin%/100
Since Margin% for all CFDs equals 5, the formula can be simplified:
Margin= Volume x Lot size x Price/20
Margin=Transaction volume x Initial margin x Margin%/100
The initial margin and margin% are indicated in the specification of a financial tool within the trading terminal.
How much commission is charged when opening a CFD trade?
The commission is calculated by use of the following formula:
Commission = (current share price) x (transaction volume) x 0.05.
- 4.21. Why is a fee charged or credited for overnight positions (Swap)?
Carrying over a position to the next day is executed with the help of short operations Roll-over or Swap (Tom/Spot). The roll-over consists of two opposite positions for the same sum but different dates (Tom - tomorrow; Spot - the second working day) and slightly different rates. The roll-over is an forced closure of the existing open position on a specific date and simultaneous opening of the same position on the next date at the price reflecting the difference in interest rates between the two currencies.
Depending on the direction of a position (Sell or Buy) the Client receives or pays the sum for carrying over the position (from one tenth of the point up to several points). When transferring a position from Friday to Monday, the sum charged/paid is threefold. The payment itself is done in the night of Wednesday.
Why does the Client pay or get money for carrying over a position?
The client pays or receives a payment for carrying over a position to the next day in case the client still has some open positions at the closing of the trading day. The difference between rates of the national central banks whose currencies the client is using plays an important role when exchanging currencies. This difference is built in to the swap points. If the Client has sold the currency at the higher interest rate, he will pay for a position transfer. If he has bought the currency at the higher interest rate, the broker will pay him for a position transfer.
This payment charged or received for having transferred a position is called Swap.
- 4.22. How long can I keep a position opened?
As long as you want, but you should keep in mind that if your position is still opened after 00:00 (the time of the terminal, see p.4.16) the fee (SWAP) will be paid or charged for each night while the position is kept opened.
- 4.23. What are long-term and short-term positions?
In the conventional sense, a long-term position is an order with an eye to get profit months or even years later. Medium-term transactions are the deals where profit is expected within weeks or more frequently, months. Short-term transactions are operations, which targets shall be reached in the nearest 1-3 weeks. This definition for the terms of the positions is accepted in banks and investment funds and is also used by analysts making forecasts. However, ordinary traders have different definition of long-term and short-term operations. Intraday transaction is a transaction conducted within a day; trading in the few coming days is called short-term; medium-term operations are executed in the next week or two and long-term transactions are operations of the next month or two. This definition is not accepted officially and is used by ordinary players at Forex.
- 4.24. What is “Margin Call” and “Stop Out”?
The Company has the right to compulsory close the client’s positions without prior notice, if the current equity is less than 50% of the margin required to maintain opened positions (100% for ECN, PAMM accounts). If several positions have been opened, the Company has the right to close one or more of them, starting with the positions, which at the moment of closure have the highest losses. The current state of account is controlled by the server. As soon as margin level reaches the value of 20% or less (50% or less for ECN, PAMM accounts), the server activates compulsory closure of the position or all positions (Stop Out). The Stop Out is executed at the current market price on the first-come first-served basis.
- 4.25. What is “Credit Stop Out”?
If the margin requirement to maintain open positions is less than the amount of bonus funds, the Stop Out will occur as soon as the equity level reduces to the margin requirement level.
If the margin requirement to maintain open positions is higher than or equal to the sum of bonus funds, the Stop Out will occur as soon as the equity level reaches the level of bonus funds, or as soon as the Margin Level reaches the value of 20% (50% for ECN, PAMM accounts).
The current state of account is controlled by the server that generates an order to close positions compulsorily in case the Credit Stop Out occurs. The Credit Stop Out is executed at the current market price on the first-come first-served basis.
- 4.26. Why has a transaction on my account been closed without any notice?
Obviously there were not sufficient funds on the account to maintain the position opened. As soon as Margin level is equal to or less than 20%, the server will close an order automatically. Compulsory closure of the position is accompanied by the "stop out” notice in the log file. Compulsory closure of the position in case of Credit Stop Out is accompanied by corresponding notice in the server’s log file with the comment “cso”. In case of several opened positions, the position with the highest floating losses will be closed first.
- 4.27. What is a “trailing stop”?
When you set the “trailing stop” (for example for X points), the following procedure takes place:
The terminal waits until the position gains profit of X points (the amount specified in trailing stop). After that, the terminal sets “stop loss” at a distance of X points from the current price (in our case, at the level of break-even).
If we receive quotes when the distance between the current price and “stop-loss” exceeds X points, the terminal will activate the command to change the Stop-Order for the distance of X points from the current price, i.e. stop-loss follows the current price at the distance of X points. Thereby, the “trailing stop” is the algorithm of controlling the “stop-loss” order – “price movement towards profit”.
Attention! The “trailing stop” is an internal function of the terminal, which operates only when your trading terminal is on and connected to our server through Internet. If you set the “trailing stop” and after that switch off your terminal, the value of the last stop loss will be valid for the server.
- 4.28. How to reverse a position in MetaTrader?
Automatic reversal in MT4 is currently unavailable. However there are several ways to do it manually:
1. Open the opposite position and after that close the first one.
2. Open the opposite position with twice as much volume and then close them using the option “Multiple Close By”. As a result, the “reversal position” is left. In such way you don’t have to pay spread for both positions, which can’t be avoided if you use the advice stated in p.1.
In order to reverse a position in MT5, you need to open an opposite position with twice as much volume: as a result, the reversal position will have the volume equal to the initial one.
- 4.29. Why are there only 4 currency pairs in “Market Watch”, although I know that the Company provides far more trading instruments?
Please right-click on any instrument in the “Market watch” window and select “Show all”; or select “Symbols” and after that indicate the trading instrument you are interested in.
- 4.30. What is a maximum deviation of the price and what is this option used for within the trading platform?
A maximum deviation is a value of accessible deviation of the price expressed in pips. By enabling the option “Enable maximum deviation from quoted price” a trader automatically consents to a new price when opening an order if the new price doesn’t exceed the predetermined deviation. This option is available for the Instant execution type accounts and will be much useful in the conditions of highly volatile market when prices change dramatically. During strong market fluctuations it can be difficult to open an order, and the option “Enable maximum deviation from quoted price” can help to save your time. Otherwise, in case a price changes fast when placing an order, the server will ask the trader to open a trade at a new price available for the moment. It will take up some time and can prevent the possibility of entering the market.
- 4.31. How to set a maximum deviation from a quoted price when opening an order?
In case of strong market movement or when a server is rebooted, it can be difficult to place an order, so not to waste your time you can use the function “Enable maximum deviation from quoted price”. To do this in the window of the trading terminal where you place your order tick the function “Enable maximum deviation from quoted price,” and indicate the value of permissible deviation in points.
Accordingly, if the price changes inside this range of 3 pips during the time of order opening, the order will be opened at a new price all the same.
- 4.32. What are the levels of support and resistance?
“Support” and “Resistance” are the concepts of technical analysis from the classic theory by J. Dow. Support level is the level below the current market price, which suggests that the price rate can reverse upward. Resistance level is above the current market price, suggesting that that price rate may go down.
- 4.33. What are the figures of profit or price movement?
Profit of 100 points is often referred to as the “Figure” of profit. The figure of the price movement is the movement of price of 100 points. The round amount is also sometimes called “the figure”. For example: the expression “EUR/USD is going through the 17th figure” means that the rate went up above the level of 1.1700.
- 4.34. What is “Money Management”, or “Rules of money Management”?
Money management is the system incorporating certain rules in regard to admissible risks, as well as strict strategic framework for trading, such as: always consistent and unchanging tactics for placing orders, irrespective of time or conditions; thorough fundamental and technical analysis and desire to find the best points for entering the market. Lately, this concept has become more general, and in the result of constant communication between traders at forums and seminars has lost its specificity; however at the same time it has become widely spread and easier for understanding.
Therefore, it is assumed that Money Management is a set of simple principles: to not risk more than one percent of the deposit at each deal; the principle of not entering the market (which means that it is better to wait for the better conditions and avoid transactions in case of ambiguous situation); to place stop-losses at the distance of 40-60 points from the price level of the transaction; to not chase instant profit of 20-30 points but concentrate on long-term and thus more profitable and less risky operations; constantly follow fundamental and technical analyses, basing your trading strategies on these analyses.
- 4.35. What is interest rate, % per annum?
These are interests paid on surplus funds (annual interest). At the end of every day, at 23:59 (the time of the terminal, see p.4.16), the account status is checked and the amount of client’s own funds, which is not involved in the trading process, is determined. The amount of the daily interest is calculated as follows:
%, daily = (free_margin - credit)*interest_rate/100/360, where
free_margin - credit – the amount of client’s free funds at the time of calculation; interest rate – stated interest rate;
360 – number of days in the year.
The interest calculation algorithm is designed by a software developer and cannot be adjusted. The value is calculated daily, stored and summed up automatically. On the last calendar day of the month interests are paid for the whole month with the help of just one balance operation and with the “IR” comment.
Note: interest does not apply to Islamic (swap free) accounts. The accrual is made only in active accounts. If on the last calendar day of the month the account is archived, the payment of interest for the period when the account was active (daily interest paid in the current month) will not be made. The account is archived if it has not been active for 90 days on condition that the account balance is less than 1000 units of the account currency. If the balance is above this amount, the account will not be archived and the interest is paid in to the client’s account.
- 4.36. Where can I find MQL language guide for expert advisors and indicators?
- 4.1. What are the IP-addresses of trading servers?
- 5. Affiliate-programs related questions
- 5.1. What types of partnership does LiteForex offer?
If you wish to earn with our company, you can choose one of the following types of partnership programs:
All these programs provide different cooperation opportunities, that’s why you will find for sure the one that suits you best. Depending on your experience, potential and the expected result, you can choose any program which fits you best.
- 5.2. How can I register in one of your affiliate programs?
To become our partner, you need to sign in to your personal profile, click on the tab “Affiliate programs” and then click on the button “Affiliate Panel” on your left. To start your own campaign, you need to click on the button “New Campaign”. Then click on “Partner’s programs” in the menu on the left, choose one of the programs and follow the instructions. Besides, you can use the quick registration form on this page.
- 5.3. How many programs may I join?
You may join as many programs and create as many campaigns as you wish.
- 5.4. How does an affiliate link work?
A client who uses your affiliate link (clicks on it, copies it in the address bar of a browser or clicks on the advertizing banner with the embedded affiliate link) is navigated to our site, registers and becomes your referral. And you make profit from this.
- 5.5. Where can I find my affiliate link?
You can find it as soon as you have created an affiliate campaign in the affiliate panel. Visit the “Campaigns” section and choose the campaign whose link you wish to see – the link will be displayed at the bottom of the screen.
- 5.6. How can I get web banners?
They will be available to you in the “Promo materials” section within the affiliate panel as soon as you have created a campaign.
- 5.7. How is the partner remunerated for his work?
- 5.8. Where can I find registrations/remuneration statistics?
On the main page of the affiliate panel or in the “Campaigns” tab.
- 5.9. How can I withdraw the money I have earned?
Affiliate commission can be withdrawn through any method displayed in the “Affiliate program” section. Withdrawal requests are processed in accordance with the company’s regulations. Please, remember that withdrawal through bank transfer may be used solely in case the withdrawal amount exceeds 500 USD.
- 5.10. Can I conduct trading operations in my affiliate account?
No, you can't. An affiliate account is used only to receive commission. In order to conduct trading operations, you can open an additional trading account in your profile.
- 5.11. What does “autoreferral” mean? Can my relatives become my referrals?
“Autoreferral” means getting the commission from your own trading accounts. Neither a partner nor his relatives or any partner’s affiliated entities may act as referral.
- 5.12. Can I review the list of attracted clients?
Yes, you can review the list of referrals in the Affiliate Panel.
- 5.13. How many people can become my referrals?
The number of referrals is not limited: the more referrals you bring in, the more you will earn.
- 5.1. What types of partnership does LiteForex offer?
- 6. Questions related to LiteForex’s VIP-Cub
- 6.1 What is a VIP-club?
Membership in the VIP-club from LiteForex is available to any client of LiteForex and provides access to additional services for free or in exchange for a special club currency called “LP”.
- 6.2 How do I register for the VIP-club?
You can register within your Client Profile. Should you not have a profile at www.liteforex.com, please create it. Then click on the “VIP-club" button, read the regulations, and accept the terms and conditions by clicking on “Accept”.
- 6.3 What does the membership bring in?
After becoming a member of the VIP-club and receiving a relevant club status, you will enjoy access to such services as
- VPS LiteForex
- Personal analyst
- SMS signals
- Advance payment
- Reimbursement for deposit fees
Please use the link to learn more about the advantages available to the members: http://www.liteforex.com/club/advantages/.
- 6.4 What is a club status? How is it defined and upgraded?
Your status in the VIP-club defines the level of your opportunities and the extent of the provided service package. The statuses are ranked in ascending order of importance: Bronze, Silver, Gold, Platinum, and Elite. The higher your status is, the more services you can enjoy. Just after you join the VIP-club, you are given the Bronze status. You can upgrade your status by increasing your deposit. The status will be upgraded on the next day after you make a relevant deposit. Please pay your attention to the fact that the status is valid for the period of up to 1 year, so you can benefit from all the advantages even if you have to withdraw a part of the deposit.
- 6.5 What are LP points and how can I get them?
LP points are a special VIP-club currency that can be used for purchasing services in the VIP-shop or exchanged for varied trading bonuses, Forex-related books and webinars, or real money.
The number of LP points depends on the volume of conducted trades. The amount of LP points varies in proportion to your status in the VIP-club. When a client joins the club, he automatically gets the BRONZE status and the number of LP points is calculated according to current trading volumes (1Lp=$10). The higher your status is, the more LP points you get.
Please follow the link http://www.liteforex.com/club/lp/ to calculate the number of LP points.
- 6.6 What is a VIP-shop?
A VIP-shop is a special secure area where you can activate free VIP services or exchange LP points for promo-codes in order to activate premium services. Please use the link for more information on the provided services: http://www.liteforex.com/club/vip-shop/.
- 6.7 Why is the service “Advance payment” unavailable?
The service “Advance payment” is available to those clients whose status is equal or superior to Gold. Please note that the service may be re-activated only if the total amount of the deposits made after the receipt of the previous advance payment is not lower than the amount of the advance payment and at least 3 calendar days passed after the previous activation.
- 6.7 How do I get or extend the VPS service?
There are 2 ways to get or extend the VPS service: via your personal profile or via the VIP-shop. Also, please note that a complete verification of the profile is required for using this service.
- Buying or extending the service through your personal profile, you pay for it using money and you will be offered an additional week of use at no cost if you have ordered the service for the first time and paid for the first month. Thus, you will be able to use the VPS service for 5 weeks at the price of 4 weeks. To extend/order the service, make the following steps: log in to your Client Profile and click on the “Trading” button. Then, click on the “VPS service” tab. To order a new VPS, use the button of the same name. To pay for the current VPS, click on “Extend”.
- Buying or extending the service through the VIP-shop, you pay for it by use of LP points and in this case you won’t have an additional week of use. You will be able to use the VPS for 30 days. Upon the expiration of this period you can extend the service at your expense or decline it. The service is available at any level. Each pricing plan may be activated and used only once. To extend/order the service, use the following tabs: “Client’s Profile”, “VIP Club”, “VIP Shop”. Then scroll the page down, choose your pricing plan and pay for the service using the necessary number of LP points.
You will receive an email offering you to extend the service five days before its termination. To do so, you need to visit our site by clicking on the link from the letter and to choose the extension period. Otherwise, your VPS will be automatically deleted after the termination of the service.
If you have any technical questions, please try reading the items of the section 3 first: http://www.liteforex.com/support/faq/.
- 6.1 What is a VIP-club?