FAQ
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General questions to JustForex
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Accounts
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Trading
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Back Office
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Deposit, Withdrawal, Transfer
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Partner programs
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Verification
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Trading platform
General questions to JustForex
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1.1
What does JustForex do?
JustForex provides individuals and legal entities with the access to the trading process on the international currency market – Forex. Each client of JustForex gets an opportunity to earn on changes in currency rates and other financial instruments.
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1.2
What are the trading hours on FOREX?
Forex trading is available 24 hours 5 days a week, from Monday 00:00:30 GMT+3 to Friday 23:57:59 GMT+3. Spot metal trading is available from Monday 01:00:00 GMT+3 to Friday 23:57:59 GMT+3. There is some time break from 23:59:00 GMT+3 to 01:00:00 GMT+3 each day.
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1.3
What if I don't have that much money to start trading on the FOREX market?
Actually the idea that you need big sum of money to start trading on Forex is one of the greatest mistakes. It is possible to trade on the Forex market having only small amount of money in possession, as nowadays the minimum requirements become available for each market participant. To learn more about the JustForex trading conditions, please, visit Trading Terms. Besides, one of the instruments, which is used by every trader is leverage, which lets use sums that exceed the sum of your own funds.
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1.4
In order to become a successful trader I just need luck, isn't it?
Do not treat trading on Forex as if it is casino. There is nothing in common between casino and Forex. It is necessary to work hard, learn all the features and aspects of the Forex market. Forex Articles may help you to fulfill this. To become successful trader, patience and hard work are in much bigger need than good luck. Everything depends on you.
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1.5
Do you work with US clients?
No, JustForex does not work with US clients.
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1.6
Who can become JustForex client?
Individuals as well as legal entities can become JustForex clients. Please note, that only people who have reached the age of majority can become clients of the company.
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1.7
I do not have my own funds to deposit my trading account. Will JustForex lend me money to deposit?
JustForex does not lend funds to the clients to deposit trading account. Besides, we do not accept payments from third parties.
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1.8
Does the company charge taxes from my trading result?
Company is not the tax agent and does not charge taxes from the profit received for trading. You get all the money earned fully and solve all the questions regarding tax liabilities according to the legislation of the country of residence by yourself.
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1.9
Can I trade on Forex on weekends?
Forex market doesn't work on weekends.
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1.10
How to become a Forex trader?
To become a Forex trader, start with learning the basics of the Forex trading – the main definitions and concepts. Then work out the theoretical knowledge on demo accounts. Using these accounts you will learn the material, gain the trading experience and sharpen your trading strategy without risks.
One more step towards becoming a Forex trader is writing a trading plan. The trading plan helps to avoid mistakes and minimize the risks arising in the trading process. The trading plan is based on a comprehensive market analysis using statistical data of the fundamental and technical analysis. Read more here.
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1.11
How to start Forex trading?
To start Forex trading with JustForex, you need to register the Back Office and open the trading account. After you can deposit your account and start trading on Forex.
The trading process implies orders executing. An order is the unit of the commodity-market relations. There are 2 types of forex orders – market and pending. The market order is executed at the market price, the price that you see in the terminal. The pending order is executed when the price reaches the indicated level. You can read more about placing orders here.
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1.12
How to learn about Forex?
If you are a novice trader and do not have any trading experience, check our education section. You can find the Forex Glossary and a lot of useful articles about the market.
The best way to learn how to trade on Forex is to practice. So, after learning theoretical basics of the Forex market, open a demo account to improve your trading skills and find the best strategy for you.
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1.13
How much money is required to start Forex trading?
To open the Standard Cent or the Standard account, you need at least 1 USD. A minimum deposit for the Pro and Raw Spread account is 100 USD. You can see how much money do you need to trade on Forex here.
Accounts
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2.1
What is the difference between a trading (live) account and a practice account?
Absolutely all the accounts in the company whether trading or practice ones are served by the same principle. You receive the same quotations of the financial instruments, monitor the situation on the market in the real-time mode. But they still differ by the fact that you don't deposit your money, you trade with "virtual" money, which can't be withdrawn, so psychological aspects of the operations are different. When trading on the practice account you can test your strategies without risking funds. You can open the practice account at this page. To open trading account, you need to register Back Office and open trading account in it. -
2.2
How can I open practice account?
In order to open practice account you need to follow this link, fill in the form and click "Open" button.
You will received the details required to log into MT4/MT5 account to the email which you will indicate in the form.
In order to open practice account from your mobile device you need to download mobile MetaTrader 4 first. You can download the platform for Android here and the one for iPhone on this page.
Then you need to fulfill the following actions:- Log into the platform MT4.
- Click "Menu" icon in the upper left corner of the terminal.
- Choose "Manage accounts" and click "+" on the appeared page.
- Click "Open a demo account" and on the appeared page in the line "Find broker" enter JustForex.
- Choose JustForex-Demo server.
- Fill in the appeared form and click "Create account".
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2.3
What can be done if I have lost the password for the practice account?
You can change the password for the practice account here. Just choose the type of the password you want to change, select the account, type and confirm the new password.
Or you may open a new practice account from your MT4/MT5 platform or from Back Office. Enjoy the trading process!
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2.4
How long can I use practice account for?
JustForex doesn't set time limits on practice account using. You can train and test your strategies as long as you need. However, in case you have not logged into your demo account for more than 90 days, it will be deleted automatically without prior notice. -
2.5
I have opened Standard account, but I want to change it to Raw Spread, how can I fulfill it?
It is impossible to change the type of trading account. But you can always open a new trading account in the Back Office and transfer your funds to it. The internal transfer is fulfilled in the Back Office. -
2.6
Do I have to verify my identity every time I open trading account?
No. Verification procedure is carried out only once, after Back Office is registered. -
2.7
How to open a Forex account?
A trading account is opened in the Back Office.
To open the trading account with JustForex you need:- 1. To register the Back Office, where all operations related to the deposit, withdrawal and transfer of funds are carried out. You will be asked to fill in the appropriate fields.
- 2. After registering the Back Office, you will be automatically redirected to the page of opening the account.
The number of your trading accounts will be displayed in the Back Office.
You can open an unlimited number of trading accounts, as well as a partner account of IB and CPA types (one partner account of these types can be opened).
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2.8
Will my account be closed if I withdraw all money?
No, your trading account won't be closed. But if you want to continue trading process, you must deposit funds on your account.
Trading
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3.1
The field "Balance" was marked red in the trading platform. Why?
This means that Margin Call takes place. Margin Call is a notification which shows that the little amount of funds is left on the trading account and in case of unfavorable market movement, stop out may take place. This notification is sent at the moment of time when the remains of funds on the trading account is a certain percent from the margin (for example, 40%). So in order to avoid stop out you need to deposit or close the positions with floating loss. -
3.2
May my order stay open for more than just one day? How much will it cost me?
In case you don't want to close your position in the end of the day it is transferred through the night and the fee, which is called swap is added to or deducted from it. To learn more about swap, please visit this page. The current swaps can be found in the trading platform MetaTrader 4/Metatrader 5. -
3.3
How do you calculate the price of one point?
We calculate the price of one point using the following formulas:-
Orders with USD as a base currency in a pair (i.e. USD/JPY).
The price of one point is calculated by multiplying the order volume with the minimal change in the exchange
rate (0.0001) and
dividing it by the current quotation of the currency pair.
- Formula: Order Volume × Minimal Change in the Exchange Rate / Current Quotation
- Example: You have an order for 2 lots, USD/JPY is 105.810. The price of a single point is 0.00000189 USD.
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Orders with USD as a non-base currency in a pair (i.e. EUR/USD).
The price of one point is calculated by multiplying the order volume with minimal change in the exchange
rate (0.0001).
- Formula: Order Volume × Minimal Change in the Exchange Rate
- Example: You have an order for 2 lot. The price of a single point is 0.0002 USD.
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Cross-pair orders (i.e. EUR/JPY).
The price of one point is calculated by multiplying the order volume with the minimal change in the exchange
rate (0.0001),
then by the current quotation of the base pair to USD and divided by the current quotation of the currency
pair during the opening of the position.
- Formula: Order Volume × Minimal Change in the Exchange Rate × Base Currency Exchange Rate to USD / Current Quotation
- Example: You have an order for 2 lots, the EUR/USD is 1.12000, and EUR/JPY is 118.700. The price of a single point is 0.000001887 USD.
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Spot metals (i.e. XAU/USD).
The price of one point is calculated by multiplying the order volume with minimal change in the exchange
rate (0.0001).
- Formula: Order volume × Minimal Change in the Exchange Rate
- Example: You have an order for 2 lot. The price of a single point is 0.0002 USD.
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Bitcoin (i.e. BTC/USD).
The price of one point is calculated by multiplying the order volume with the minimal change in the exchange
rate (0.00001) and multiplying by the current quotation.
- Formula: Order Volume × Minimal Change in the Exchange Rate / Current Quotation
- Example: You have an order for 2 BTC and the quotation for BTC/USD is 11,753.41 USD. The price of a single point would be 2 USD × 0.00001 / 11,753.41 = 0.000000002 USD.
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Crypto-cross (i.e. ETH/LTC).
The price of one point is calculated by multiplying the order volume with the minimal change in the exchange
rate (0.00001) and dividing it twice:
by the current quotation of the base pair to USD and by the current quotation of the currency pair during
the opening of the position.
- Formula: Order Volume × Minimal Change in the Exchange Rate × Base Currency Exchange Rate to USD / Current Quotation
- Example: You have an order for 0.1 lot of ETH/LTC, ETH/LTC is 2.47229 and ETH/USD is 226.57780. The price of a single point would be 0.1 × 0.00001 × 226.57780 / 2.47229 = 0.000091647 USD.
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CFD (i.e. DE30).
The price of one point is calculated by multiplying the contract volume with minimal change in the exchange
rate (0.00001).
The contract size is 10 contracts multiplied by your order size.
- Formula: Contract Size × Minimal Change in the Exchange Rate
- Example: You have an order for 2 lots. The price of a single point would be 2 × 10 × 0.00001 = 0.0002 EUR.
- The minimal change in the exchange rate can be different, depending on your account type and the chosen trading instrument. You can see the values for all account types at Contract Specifications page, as "Tick size".
- Different indices are calculated with different margin currencies. You can see the currencies for all indices using the Contract Specifications feature of MetaTrader 4/Metatrader 5. To do so, click with the right mouse button at the trading instrument in Market Overview and select Contract Specifications.
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Orders with USD as a base currency in a pair (i.e. USD/JPY).
The price of one point is calculated by multiplying the order volume with the minimal change in the exchange
rate (0.0001) and
dividing it by the current quotation of the currency pair.
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3.4
Is automatic trading allowed?
Trading using expert advisors is allowed, within trading conditions of the trading account type, used to conduct trade. -
3.5
Why was my position closed without my order to close it?
Your position is to be closed forcibly at the current market price in case the margin level on the account reaches the stop out level of your account type (stop out level for all the account types can be found on the Trading terms). -
3.6
I want to conduct trade on the Forex market. How can I fulfill this?
While trading on the Forex market with JustForex, you can conduct trading operations via trading platform MetaTrader 4/Metatrader 5. With the help of this platform you have an opportunity to place market and pending orders to buy / sell. To learn more about how to conduct trading operations, please read the article Trading process. -
3.7
What are your spreads?
Spread is floating on Standard Cent, Standard, Pro and Raw Spread accounts. To find out typical spreads, please, visit Contract Specification. -
3.8
When trying to open a position the message "Not enough money" appears. Why?
This message appears in the trading platform in case you don't have enough spare funds to open new position. In order to continue trading, the trading account needs to be deposited. -
3.9
How many deals a month may I execute?
JustForex does not set a limit in the amount of deals, executed a month. Execute as many deals as you need according to your trading strategy. -
3.10
What are buy and sell orders? What do short and long positions mean?
Buy order or as it is also called long position – the order to buy financial instrument.
Sell order or short position – the order to sell financial instrument.
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3.11
What currency pairs are available for trading?
To view the complete list of the currency pairs available for trading, please, visit this page. -
3.12
What is the minimum order volume you offer?
The minimum order volume on all the JustForex accounts is 0.01 lot (1,000 units of base currency). -
3.13
What is the commission per lot on Raw Spread account?
The commission on Raw Spread accounts is 3 units of base currency for one side of the order (open/close) for Forex currency pairs and metals. -
3.14
What does free margin mean?
Free margin means funds on the trading account, which may be used to open new position. -
3.15
What is spread?
Spread is the difference between the ask price and the bid price of the financial instrument at the certain moment. -
3.16
What does leverage mean?
Leverage is a tool which lets trade bigger sums, having only part of the sum at the disposal. For example, with 1:100 leverage you can conduct trade of the USD 100,000 volume, having only USD 1,000 of own funds. -
3.17
What are the open and close prices?
Buy orders open at Ask price, close at Bid. Sell orders open at Bid price, close at Ask price. -
3.18
What is your margin formula? How can I calculate it?
You can calculate your order’s margin with the following formulas:-
Orders with USD as a base currency in a pair (i.e. USD/JPY).
Your margin would be your contract size divided by leverage.
The contract size is 100,000 USD (1 lot) multiplied by your order size.
- Formula: Contract Size / Leverage
- Example: You have an account with 1:1000 leverage and you want to buy 2 lot of USD/JPY. Your margin would be 2 × 100,000 USD / 1,000 = 200 USD.
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Orders with USD as a non-base currency in a pair (i.e. EUR/USD).
Your margin would be your current quotation multiplied by the contract size divided by leverage.
The contract size is 100,000 units of the base currency (1 lot) multiplied by your order size.
- Formula: Current quotation × Contract Size / Leverage
- Example: You have an account with 1:1000 leverage and you want to buy 2 lots of EUR/USD, EUR/USD is 1.12000. Your margin would be 1.12000 × 2 × 100,000 EUR / 1,000 = 224 USD.
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Cross-pair orders (i.e. EUR/JPY).
Your margin would be your contract size multiplied by the exchange rate of the base currency to USD and
divided by leverage.
The contract size is 100,000 units of the base currency (1 lot) multiplied by the USD exchange
rate and your order size.
- Formula: Base Currency Exchange Rate to USD × Contract Size / Leverage
- Example: You have an account with 1:1000 leverage and you want to buy 2 lots of EUR/JPY, EUR/USD is 1.12000. Your margin would be 1.12000 × 2 × 100,000 EUR / 1,000 = 224 USD.
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Spot metals (i.e. XAU/USD).
Your margin would be your current quotation multiplied by the contract size divided by leverage.
The contract size is the 100 troy ounces for XAU and 5,000 troy ounces for XAG multiplied by your
order size.
- Formula: Current Quotation × Contract Size / Leverage
- Example: You have an account with 1:100 leverage and you want to buy 2 lots of XAU/USD while the quote is 1,497.46. Your margin would be 1,497.46 × 2 lot × 100 ounces / 100 = 2,994.92 USD.
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Bitcoin (i.e. BTC/USD).
Your margin would be the current BTC/USD quotation multiplied by the order size and divided by leverage.
- Formula: Current Quotation × Order Size / Leverage
- Example: You have an account with 1:3 leverage and you want to buy 2 BTC, BTC/USD is 11,753.41. Your margin would be 11,753.41 USD × 2 / 3 = 7,835.61 USD.
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Crypto-cross (i.e. ETH/LTC).
Your margin would be the current rate of the base currency to USD multiplied by contract size and divided by
leverage.
- Formula: Base Currency Exchange Rate to USD × Contract Size / Leverage
- Example: You have an account with 1:3 leverage and you want to buy 0.1 lot of LTC for ETH. Your margin would be 0.1 × 226.57780 / 3 = 7.55 USD.
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CFD (i.e. DE30).
Your margin would be the current quotation multiplied by your contract size and divided by leverage.
The contract size is 10 contracts multiplied by your order size.
- Formula: Current Quotation × Contract Size / Leverage
- Example: You have an account with 1:100 leverage and you want to buy 2 DE30. DE30 = 11,712.2 EUR. Your margin would be 11,712.2 EUR × 2 × 10 / 100, which equals to 2,342.44 EUR.
NOTE: Different indices are calculated with different margin currencies. You can see the currencies for all indices using the Contract Specifications feature of MetaTrader 4/Metatrader 5. To do so, click with the right mouse button at the trading instrument in Market Overview and select Contract Specifications.
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Orders with USD as a base currency in a pair (i.e. USD/JPY).
Your margin would be your contract size divided by leverage.
The contract size is 100,000 USD (1 lot) multiplied by your order size.
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3.19
How to use Fibonacci retracement on Forex?
The Fibonacci sequence is the series of numbers in which each next number is formed by adding up the two previous numbers. The Fibonacci levels are quite a popular technical tool among traders, it works best when the market is trending. The Fibonacci retracement levels show possible levels of price correction.
The Fibonacci levels calculation is based on the Fibonacci numbers. The key Fibonacci levels are considered to be 23.6%, 38.2%, 50.0%, 61.8%. The strongest levels are 50.0%, 61.8% and 78.6%. Read more in this article.
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3.20
How to do scalping on Forex?
Scalping is a trading strategy, when a trader executes a big amount of orders during a short period of time. The trading position is held open for a few seconds or minutes. A trader executes hundreds of transactions per day and receives profit from minor fluctuations in prices. Read more here.
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3.21
How to calculate and set Stop Loss and Take Profit on Forex?
You can place Take Profit and Stop Loss in a trading terminal, when you open an order. You also can modify already opened orders and set or change SL and TP at any time. You can read more about how to calculate Stop Loss and Take Profit on Forex here.
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3.22
How to use moving average on Forex?
Moving average is one of standard and the most commonly-used Forex indicators. In this article you can read for what purpose and how to use the Moving Average indicator on Forex.
To set the MA indicator, click on "Insert" in the upper left corner of the MetaTrader terminal, choose "Indicators", "Trend" and click "Moving Average". After that, you will see a window with settings. In the Parameters tab you can set a period, a shift, the MA method, choose to what you will apply the indicator.
In the Visualization tab you choose on what timeframes the MA will appear. After customizing the settings, click "Ok" and the Moving Average will appear on the chart.
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3.23
How to read a Forex quote?
Trading instruments on Forex are represented as currency pairs. It is important to understand how to read the Forex pairs. The first currency is called a base currency and the second one is a quoted currency. The number shows how many units of the quoted currency are needed to buy the base currency.
For example, if EUR/USD=1.0555, it means that 1 Euro costs 1.0555 Dollars. In this case, Euro is the base currency and Dollar is the quoted currency. So, if you open buy order for EUR/USD on Forex, you actually buy Euros for Dollars.
Knowing how to read the Forex quotes is one of the basics of the Forex market, you can read more about it in our article.
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3.24
How to use the RSI indicator on Forex?
RSI is an oscillator indicator. This indicator is a standard one, so you can find it in MetaTrader 4 and MetaTrader 5. To use it, click "Insert" in the upper left corner of the trading platform, choose "Indicators", "Oscillators" and "Relative Strength Index". A settings window will appear.
You can read more information on how to use RSI in Forex trading here.
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3.25
How to read the Forex charts?
The ability to read and analyse charts is the main skill of Forex traders. You can learn how to read Forex charts in this article.
You can find chart patterns and trade according to them or you can just read about them on our site since JustForex analysts have already done it for you.
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3.26
How to set Stop Loss on Forex?
Stop Loss is an order that limits losses if the price goes in an unprofitable direction. It automatically closes the position when the price reaches a certain price level. To protect the deposit from negative market fluctuations and unexpected events, traders determine the amount they can afford to lose and set Stop Loss at a level they considered to be acceptable for possible losses.
According to the professional traders, the maximum risk level for each transaction should be 2-3% of the trading capital. How to set Stop Loss, read here.
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3.27
How to trade Forex news?
To trade on Forex news, you should follow the economic calendar where all major world financial news are collected. Also, the calendar shows the time of the news release and the strength of its impact on a specific currency pair.
News trading is the strategy which is based on a fundamental analysis. News traders make profit on the price gaps at the moments of important economic news releases.
There are two approaches:- 1. Traders foresee the direction of movement and the possible reaction of the market to the published news and place orders before the release in the direction where the price is supposed to move.
- 2. Traders wait for the news release and watch the reaction of the price. Thus, traders monitor the price behavior, and then enter the market.
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3.28
How to use Trailing Stop on Forex?
Stop Loss can be moved manually, Trailing Stop is used to automate this process. Trailing Stop allows the Stop Loss level to move relative to the price fluctuation. That is, it is the floating Stop Loss which follows the price when it moves in your direction. Trailing Stop is useful at a strong unidirectional market movement.
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3.29
How to use Take Profit on Forex?
Take Profit is opposite to the Stop Loss order, it is used to fix profit. If the price reaches the Take Profit level, an order closes automatically and fixes the profit even when the trading terminal is offline.
The standard loss/profit ratio is considered to be 1:3. So, if Stop Loss is 20 points, Take Profit should be 60. The potential profit should exceed the risk by several times.
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3.30
How to place an order on Forex?
To buy or to sell a currency, you should open/place a Forex order in the trading platform. You can do it in a simple and even in several ways in MetaTrader 4 and MetaTrader 5. How to place the order read in this article.
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3.31
How to calculate profit in Forex trading?
The method of calculating profit on Forex depends on the currency pair quote. If the base currency of the pair is USD, it is called the direct quote (e.g.USD/JPY, USD/CAD, USD/CHF). If USD is the counter currency, this is a currency pair with the indirect quote (e.g. EUR/USD, GBP/USD, AUD/USD).
If the currency pair does not include USD, you deal with the cross-rate (e.g. GBP/AUD, GPB/JPY).
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You can calculate profit for the direct currency pairs by the formula:
(closing price – open price) / closing price × contract volume × lot size
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Here is the formula for currencies with the indirect quotation:
(open price – closing price) × contract volume × lot size
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Here is calculation for the cross-rate currency pairs:
(open price – closing price) × base currency rate × closing price × contract volume × lot size
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You can calculate profit for the direct currency pairs by the formula:
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3.32
Is there any difference between trading currency pairs, metals, indices?
On Raw Spread trading accounts, the leverage for pairs with precious metals corresponds to the leverage chosen in the account settings (up to 1:3000), or to a 100% margin. On other trading accounts, the leverage for such pairs will be 1/2 of the value in the settings, which corresponds to a 200% margin. For example, if you have the leverage of 1:3000, then pairs with precious metals will be traded with the leverage of 1:1500. The max available leverage for indices is 1:100. Other trading conditions are the same for trading currency pairs, metals, indices.
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3.33
What is your maximum order value?
You can calculate your maximum order value with the following formulas:-
Orders with USD as a base currency in a pair (i.e. USD/JPY).
Your maximum order value would be your deposit multiplied by your leverage and divided by 100,000.
- Formula: Deposit × Leverage / 100,000
- Example: You have an account with 1:1000 leverage and 100 USD in deposit. Your maximum order value is 100 USD × 1,000 / 100,000 = 1 lot.
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Orders with USD as a non-base currency in a pair (i.e. EUR/USD).
Your maximum order value would be your deposit multiplied by your leverage and divided by 100,000 and
divided by the current quotation.
- Formula: Deposit × Leverage / 100,000 / Current Quotation
- Example: You have an account with 1:1000 leverage and 100 EUR in the deposit, EUR/USD is 1.12000. Your maximum order value is 100 × 1,000 / 100,000 / 1.12000 = 0.892 lot.
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Cross-pair orders (i.e. EUR/JPY).
Your maximum order value would be your deposit multiplied by your leverage and divided by 100,000 and
divided by the current rate of the base currency to USD.
- Formula: Deposit × Leverage / 100,000 / Base Currency Exchange Rate to USD
- Example: You have an account with 1:1000 leverage and 100 USD in a deposit, EUR/USD is 1.12000. Your maximum order value would be 100 USD × 1,000 / 100,000 / 1.12000 = 0.89285 of a lot.
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Bitcoin (i.e. BTC/USD).
Your maximum order value would be your deposit multiplied by your leverage and divided by the current rate
of the base currency to USD.
- Formula: Deposit × Leverage / Current Quotation
- Example: You have an account with 1:3 leverage and 1,000 USD in a deposit. BTC/USD is 11,753.41. Your maximum order value would be 1,000 USD × 3 / 11,753.41 USD = 0.255 lot.
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Crypto-cross (i.e. ETH/LTC).
Your maximum order value would be your deposit multiplied by your leverage and divided by the current rate
of the base currency to USD.
- Formula: Deposit × Leverage / Base Currency Exchange Rate to USD
- Example: You have an account with 1:3 leverage and a deposit of 1,000 USD. ETH/USD is 226.57780. Your maximum order value would be 1,000 × 3 / 226.57780 = 1.24 lots.
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Gold (XAU/USD).
Your maximum order value would be your deposit multiplied by your leverage and divided by 100 and divided by
the current quotation.
- Formula: Deposit × Leverage / Current Quotation
- Example: You have an account with 1:200 leverage and 100 USD in a deposit. XAU/USD is 1,497.46. Your maximum order value would be 100 USD × 200 / 100 / 1,497.46 = 0.132 lots.
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Silver (XAG/USD).
Your maximum order value would be your deposit multiplied by your leverage and divided by 5,000 and divided
by the current quotation.
- Formula: Deposit × Leverage / Current Quotation
- Example: You have an account with 1:200 leverage and 100 USD in a deposit. XAG/USD is 16.897. Your maximum order value would be 100 USD × 200 / 5,000 / 16.897 = 0.236 lots.
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Orders with USD as a base currency in a pair (i.e. USD/JPY).
Your maximum order value would be your deposit multiplied by your leverage and divided by 100,000.
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3.34
How do you calculate swap on the index funds?
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The swap is calculated by taking the annual percentage, dividing it by 100 to get a 1%,
then diving it by 360 – the average number of banking days in a year.
Then you multiply it by the closing price, the volume and the contract size.
- Formula: Annual percentage / 100 / 360 × Closing Price × Volume × Contract size
- Example: You have a contract for 0.5 lot of US30, with the contract size being 10 and the price being 25,911.3. The annual percentage is -3. Your swap is (-3) / 100 / 360 × 25,911.3 × 0.5 × 10 = -10.80 USD.
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The swap is calculated by taking the annual percentage, dividing it by 100 to get a 1%,
then diving it by 360 – the average number of banking days in a year.
Then you multiply it by the closing price, the volume and the contract size.
Back Office
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4.1
How can I change the leverage of the account?
In order to change the leverage of the account, please, perform the following actions:- Log into your Back Office;
- In the left menu box choose "My accounts" and click "Actions" opposite the account for which you want to change the leverage;
- Choose "Change leverage" in the drop-down list;
- On the appeared page indicate the desired leverage in the "New Leverage" line and click "Change".
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4.2
I've forgotten the password of my Back Office. What should I do?
In case you have forgotten or lost the password of the Back Office, you need to conduct the following actions:- Go to the page of the Back Office login and click "Forgot your password?";
- Enter your email (the one you have indicated during the registration) in the appeared page and click "Send". The letter with instructions will be sent to your email;
- Fulfill the actions, described in the letter.
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4.3
Am I allowed to register several Back Offices?
No, Back Office is opened only once. But you may open unlimited amount of trading accounts in the Back Office. -
4.4
How can I change the information regarding place of residence?
In order to change the information regarding place of residence, please, perform the following actions:- Log into your Back Office;
- In the left menu box "Profile" choose "Personal data";
- Click "Change" under Place of residence;
- Fill in the appeared form.
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4.5
What is the PIN code used for? How to get it?
PIN code is used for such non-trading operations as withdrawal and transfer between the accounts. It is one-time for every operation and is valid for a short period of time from the moment when it was received. PIN code can be used only for the operation during which it was requested. In order to get a PIN code please perform the following actions:- Log into your Back Office.
- Choose the section you are interested in ("Withdrawal"/"Internal Transfer").
- Fill in the appeared form. Click "Get a code" button next to the "PIN code" field. After that you will get a PIN code to your email/mobile phone.
- In order to use the received PIN code please enter it in the appropriate field of the form.
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4.6
How to change the method of PIN code sending?
In order to change the method of PIN code sending please perform the following actions:- Log into your Back Office.
- Choose the section "Security Settings".
- Choose the method of PIN code sending. ("My Email" or "My Mobile Phone Number (Via Sms)"). Click "Get A Code" button next to the "Confirmation code" field. After that you will get SMS with a confirmation code to mobile phone number which is indicated in your profile.
- Enter the code from the SMS to the "Confirmation code" field and click "Change".
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4.7
How to change main password or investor's password of my trading account?
In order to recover trader's password or investor's password, please, perform the following actions:- Log into your Back Office.
- In the left menu box choose "Password Changing".
- In the appeared form in the "Password type" field choose "MT4 account main password" or "MT4 account investor’s password".
- Choose the number of the account for which you want to change the password in the "Account" field.
- Fill in the "New password" and "Confirm new password" fields. Click "Confirm".
- Click "Get A Code" button. The code which you need to enter will be sent to your email or telephone number depending on the settings you have chosen.
- Enter the code and click the "Change" button.
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4.8
I want to change the password of the Back Office. How can it be fulfilled?
In order to change the password of your Back Office, please, perform the following actions:- Log into your Back Office.
- In the left menu box choose "Password Changing".
- In the appeared form in the "Password type" field choose "Back Office password".
- Fill in the "Current password", "New password" and "Confirm new password" fields. Click "Confirm".
- Click "Get A Code" button. The code which you need to enter will be sent to your email or telephone number depending on the settings you have chosen.
- Enter the code and click the "Change" button.
Deposit, Withdrawal, Transfer
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5.1
Can I cancel the order to deposit/withdraw/transfer between accounts?
You can cancel the order to deposit/withdraw/transfer between accounts in case the order hasn't been taken in the processing by the financial department of the company (has the status "Pending"). To fulfill this:- Log into your Back Office;
- Go the the page "Transaction History";
- In the column "Status", click "Cancel" next to the necessary request.
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5.2
What are the deposit/withdrawal methods?
You can learn about all the deposit/withdrawal methods on Deposit and Withdrawal page. -
5.3
Will I be charged for depositing on and withdrawing from the account?
Each method of depositing/withdrawal has the set commission. For further information regarding commissions, please, click here. -
5.4
Where can I make a request to deposit/withdraw/transfer between the accounts?
Named requests are made only in the Back Office on the relevant pages. -
5.5
Is there an opportunity for the automatic deposit/withdrawal?
Depositing by the majority of the presented methods is carried out in automatic mode. The requests to withdraw are processed manually by the company in the shortest time. For further information regarding terms of depositing, please, visit this page. -
5.6
What currencies can I deposit my account with?
The list of currencies that the account can be deposited with is available on the page Deposit and Withdrawal. Please note that accounts can be opened in USD, EUR, GBP, MYR, IDR, THB, VND, KWD, CNY, ZAR. -
5.7
May I deposit my account by the direct transfer of funds to the company's accounts?
No. Deposit by the direct transfer of funds to the company's accounts is forbidden. You can make the request to deposit in the Back Office. -
5.8
I have deposited funds, but they haven't come to the account. What is the problem in?
The term of depositing funds depends on the method of depositing. In case the funds haven't been deposited in time due to technical reasons, please, use the deposit notification form in your Back Office. You can learn more about the terms of crediting here. -
5.9
Can I withdraw during holidays/weekends?
You can make requests to withdraw funds during holidays/weekends and they will be fulfilled by the Finance Department during the working hours of the department. -
5.10
May I transfer funds from my account to the account of company's another client?
No. Money transfer between the accounts of JustForex clients is forbidden due to the commitment of the company to AML Policy. -
5.11
Am I allowed to transfer funds between the accounts?
You are allowed to transfer funds between your own trading accounts, as well as from the partner one (IB type) to trading accounts.
Partner programs
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6.1
Can I earn by attracting new clients to JustForex?
Certainly. You may become JustForex Affiliate (Introducing Broker) and receive revenue for trading of the clients attracted by you. The conditions of the beginning of the partner relationship under the program Introducing Broker can be found here. -
6.2
What is "Partner link"?
Partner link is a link with the help of which the track of the customers, attracted by you under the Introducing Broker program, takes place. When registering your partner account, its number, which can be seen in the Back Office, is your unique partner code. For example, you have registered partner account and it was given a number 32071, exactly this number is your partner code.
The referral code can be found in your Back Office. In order to change the page to which the referral code leads, please, choose the appropriate option in the field "Site page". You can also indicate the site page which you want to use for attracting clients by yourself. For this select the item "Another site page" in the drop-down list. Then insert the needed link into the appeared field. When choosing the site page your referral code will be changed automatically in the code of the banners.
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6.3
How does the partner link work?
So the user follows the link, registers in the company, opens a trading account and conducts trade. Revenue for every attracted client's order is credited on your partner account. The revenue for the trading activity of the attracted client will be paid to you from every trading account, opened by this client.
If, after following your link, the client appears on the page of the company's website and does not register a Back Office immediately, this does not mean that this client will not be added to the list of your referrals. All transitions are saved in cookies, if they are enabled in the client's browser. When visiting the website next time, the client registers the Back Office, he/she is added to your list of attracted clients.
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6.4
What are the components of the partner link and how can I create partner link which redirect to different website pages?
Your partner link consists of:-
1. the address of the website page, to which you want your clients to be redirected when clicking on it. For example, you want potential client to become interested in the trading conditions and make the immediate decision to register, then choose the page which contains the information about the trading conditions and copy the link https://justforex.com/trading/account-types
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2. the second part of the partner link is your unique partner code (your IB account number), for example, 32071. At the same time, to connect the site link and the partner code, you need to add "?ref=". You can copy ?ref=32071 from the page Promo Materials in your Back Office (field "Your partner link") and add it to the link of the chosen page.
In case you want to refer potential client to the page with trading conditions, your partner link will look like: https://justforex.com/trading/account-types?ref=32071
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6.5
How can I use the partner link?
After the creation of the partner link, it can be used by adding it on different resources. For example, participating in the discussions on the thematic forums, you can add the link with your unique partner code to the signature. By being a participant of the resources, which are connected with the currency market (forums, information resources or blogs), you can inform other members about the company services, in this way the attraction can be more successful as it will be directed to the target audience.
Besides, banners which can be placed on your website, blog or forum can be found in the Promo Material section of the Back Office. Please note, that when choosing the page which you want to use for attracting clients your referral code in the code of the banner will be changed automatically. So the only thing you need to do is to copy the banner code and insert it into your resource code.
In case your referral finds out about the company directly from you, make sure that you provide him/her your partner code (For example, 32071), so that it can be indicated it in the registration form on the company website.
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6.6
Can legal entities become IB?
Yes, both, legal entities and individuals can become IB. -
6.7
How to become a Forex IB?
To become a Forex IB is easy: register the Back Office, open a partner account and start attracting clients. You can learn more about the conditions of the partner relationship under the program Introducing Broker here.
Most partners are working on this affiliate program. The broker gives the referral link to the partner. The partner shares it on different resources: websites, forums, personal blog, social networks etc. Everyone who follows this link and registers as a trader becomes a referral of the partner. The partner earns profit for each transaction of the attracted referral.
Verification
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7.1
What does verification mean?
Verification – is the process of confirmation of the person's identity and the place of residence, who activates Back Office to carry out trading. Verification procedure is the common requirement of AML Policy, which is followed by many financial organizations, including JustForex. Besides, this procedure is a necessary condition to start using full services of JustForex company.
Trading platform
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8.1
How can I install the trading platform?
In order to receive the opportunity to conduct trade with the financial instruments on the Forex market, you need to download a trading platform. JustForex offers to use MetaTrader 4 or MetaTrader 5 – software, developed by the Meta Quotes company.- Download MT4 here and MT5 here. To install the program, run the downloaded file.
- Click "Next".
- Read the information regarding the use of the program and click "Next". Mark "I agree with the terms of this license agreement" and click "Next".
- Choose the folder, where you want to place the program and click "Next".
- By clicking "Next" you have launched the process of copying files to the system.
- Installation completed! You can start the trading platform by choosing "Launch MetaTrader 4/5 JustForex" and clicking "Finish".
When you open trading platform for the first time you will be offered to open practice account. In order to log into the platform you need to close this window first. And if you want to open practice account you can find the detailed manual how to fulfill this here.
Besides, you can trade through the browser-based version of MetaTrader – JustForex WebTrader. Web-terminal does not require installation and can be launched from a simple Internet-browser. To access real or demo account and start trading you just need to follow the link webtrader.justforex.com. You can learn more about the browser-based terminal WebTrader at this page.
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8.2
Does trailing stop work if trading platform is not on?
No, trailing stop works only when trading platform is on and there is connection between trading platform and trading server. -
8.3
What trading platforms are available to work with JustForex?
JustForex offers clients to trade on ones of the most popular trading platforms – MetaTrader 4 and MetaTrader 5. To learn more about these platforms, click here. -
8.4
How can I add/remove instruments to/from "Market watch"?
During the installation of MetaTrader trading platform, the limited list of financial instruments is displayed in "Market watch" by default. In case you want to add symbol or hide the displayed symbol, right-click on "Market watch" and choose "Symbols" in the appeared menu. Then expand the necessary group, choose the symbol and click "Show" / "Hide" button.
Besides, trading platform also lets:-
Hide all symbols. To fulfill this:
Menu "Market watch" > Click "Hide all"
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Display all the available symbols. To fulfill this:
Menu "Market watch" > Click "Show all".
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Save different lists of symbols and switch between them in the fast way. To fulfill this:
Menu "Market watch" > Click "Sets".
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Hide all symbols. To fulfill this:
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8.5
What if I don't see in the "Account History" transactions made earlier?
Choose in trading platform MetaTrader 4/5 "Account History" from "Terminal". Click right button on any space of the tab and choose "All History" or "Custom Period". -
8.6
What is expert advisor?
Expert advisor (robot) is the program software (script), which executes trading operations without trader's participation, based on the algorithm, specified in advance. Expert Advisors are very useful when there is no opportunity to be near the trading platform.
It is possible to choose one of the modes of expert advisor operation in MetaTrader terminal:- expert advisor sends signals, but does not conduct trading operations by itself;
- expert advisor conducts trading operations by himself, but with the trader's manual confirmation;
- expert advisor conducts trade by itself without trader's manual confirmation.
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8.7
Do expert advisors work if trading platform is not on?
No, expert advisor works only when trading platform is on and there is connection between trading platform and trading server. -
8.8
How can I change the language of the MetaTrader 4/5 platform?
In order to change the language:- In the top menu click "View";
- Choose "Languages";
- Click on the language of your preference;
- Restart the platform.
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8.9
How can I delete the MetaTrader platform?
In order to delete the MT platform, please, perform the following actions:- Go to the folder with the MT program files;
- Find the "Uninstall. exe" file and double-click on it;
- The JustForex MetaTrader 4 or 5 uninstall window will open;
- You can mark "Delete user personal data" if you want to delete all your personal information from your computer. Or you can not mark "Delete user personal data" if you want your information to stay on your computer. In this case, you will have an opportunity to redownload JustForex MetaTrader and your previous data will be saved;
- Click "Next" and the platform will be deleted;
- Click "Finish" to exit the uninstall window.
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8.10
What is the best Forex trading platform?
The best Forex trading platforms are MetaTrader 4 and MetaTrader 5 developed by MetaQuotes SoftWare Corp. Trading platforms provide a trader with the necessary tools for technical analysis, transmit real-time quotes, allow placing and managing orders, as well as monitoring the status of the trading account.
MetaTrader is implemented in three versions: desktop, mobile and online (web). All the versions are available for trading with JustForex. To learn more about the platform, click here.
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8.11
What is the online trading platform?
The online Forex trading platform is a browser-based version of the platform. You do not need to download and install additional software, you can trade directly in the browser. The web-platform is compatible with any operating system (Windows, Mac, Linux). All you need for trading is a browser and an access to the Internet. You can find out the platforms provided by JustForex in this section.
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8.12
What is the best Forex trading app?
JustForex allows trading with the most popular trading platform – MetaTrader 4. MT4 include both desktop and web versions of the platform. There are also applications for your smartphones (both for iOs and Android), that allows you to be in touch with the Forex market all the time and trade anywhere. You can choose and download the best Forex trading app here.
