Questions About Accounts
Promotions and Bonuses
- In order to be able to withdraw bonus funds, you have to meet the account turnover conditions. For the ability to withdraw a no-deposit welcome bonus and profits derived from the bonus money, you must complete deals amounting to 20 lots for classic accounts or 2000 lots for USD cents accounts.
- To allow withdrawal of deposit bonuses you need to complete trades equal to the size of the bonus chosen divided by 4. For example, if you deposit $500 and choose a 50% deposit bonus, you will need to complete transactions amounting to 62.5 lots within three months (250/4 = 62.5).
Financial Matters (Deposits/Withdrawal)
As a rule, 1 tick = 0.0001, but there are a number of currencies where the tick size = 0.01, for example, in pairs with the Japanese yen.
Example 1 – Determine the value of one point for direct USD/*** quotations:
- Currency pair: USD/JPY;
- Tick size: 0.01;
- Position Volume: 1 standard lot (100,000 units of the base currency);
- The current exchange rate of USD/JPY: 78.2.
- The value of one point = 100,000 x 0.01 / 78.2 = 12.8 USD.
Example 2 – Calculate the value of one point for reverse ***/USD quotations:
- Currency pair: EUR/USD;
- Tick size: 0.0001;
- Position Volume: 0.01 lot.
- The value of one point = 100,000 × 0.01 × 0.0001 = 0.1 USD.
Example 3 – Calculate the value of one point for cross rates:
- Currency pair: USD/CHF;
- Tick size: 0.0001;
- Position Volume: 1;
- The current exchange rate of USD/CHF: 1.02;
- The current exchange rate of the base currency pair CHF/USD: 1.05.
- The value of one point = volume x tick size × base currency pair quote / current pair quote.
- The value of one point = 100,000 x 0.0001 x 1.05 / 1.02 = 10.3 USD.
- Margin = the Position Volume / the leverage
- Margin and Position Volume are expressed in the base currency.
- Currency Pair: USD/CAD;
- Position Volume: 1 standard lot (100,000 units of base currency);
- Leverage: 1:100;
- Margin = 100,000 / 100 = 1,000 USD.
- Currency Pair: GBP/USD;
- Position Volume: 0.01 lot;
- Leverage: 1:500;
- The current rate of GBP/USD: 1.5523;
- Margin = 0.01 x 100,000 / 500 × 1.5523 = 3.1 USD.
- Margin = the Position Volume/Leverage x exchange rate (the rate of the base currency) to the dollar.
- Currency Pair: GBP/AUD.
- Position Volume: 0.1 lot;
- Leverage: 1:50;
- The current rate of GBP/USD: 1.5523.
- Margin = 0.1 × 100,000 / 50 × 1.5523 = 310.5 USD
Swap = volume x number of days x Buy (long) or Sell (short) swap
There is an open position on EUR/USD to Buy 0.01 lot, which has been open for 20 days.
According to the table, the swap for a Buy order of 1 lot for EUR/USD, per day is -2.45 USD.
Swap = 0.01 × 20 × -2.45 = -0.49 USD.