How do I start trading with iHForex?
I am new to the Forex market, how can I learn more about it?
You can read the detailed answer in the separate section of the site — "What is Forex?".
How can I start trading with iHForex?
The procedure to start trading with iHForex is quite simple and takes less than 5 minutes; within 3 steps you will be able to start trading.
- Register :
First, you will need to register into a new account and complete your details. You will receive a confirmation email with your login.
- Download the MT4:
Then, you can download the MT4 trading platform and login into the interface with the login and password you are provided when you registered. You can also trade through the WebTrader and the MobileTrader.
- Invest :
If you are on theDemo account, you can immediately start trying out our platform, if you are ready to trade live, and you opened a Live account, you can invest through your “My account” page. The CC funding is immediate and you will see the invested funds appeared in your MT4 once you have completed it.
You’re now set to trade, we wish you successful with your trading!
How much money do I need to start trading with iHForex?
iHForex offers the opportunity to its traders to begin with a micro account of 100$.
Is there a minimum amount of my balance that I need to leave in my account?
No. Once your account is open, there is no minimum balance requirement beyond the margin rates for any positions held in your account. You can trade with the total amount of your investment. Your account will be closed only if your balance reaches 0$. This is a tremendous competitive advantage for our traders since there is no warrantee amount needed to keep your account open.
What is the difference between a Demo and Live MetaTrader account?
The primary difference is that there is no capital at risk when trading in a Demo account. It features real-time quotes and charts, along with all the basic trading tools and much of the information you will have access to as a customer, including single and contingent order types, a real-time newsfeed, up to the minute market commentary, daily and weekly research, and more. Results achieved on the Demo account are hypothetical and no representation is made that any Live account will or is likely to achieve actual profits or losses similar to those achieved in the practice account. Conditions in the Demo account cannot always reasonably reflect all of the market conditions that may affect pricing and execution in a Live trading environment.
When you will open a Live, funded account, you will have wider access to exclusive content generated daily by our market analyst team, as well as access to advanced charting packages provided by iHForex.
How many MetaTrader accounts can I open?
In the registration process 1 account is opened, Live or Demo. In the account page we offer the possibility to open more accounts (Live and/or Demo). We enable you to have both live and demo at the same time integrated in your MT4 platform.
Should I provide any document to start trading?
In order to protect our clients from identity theft, and to secure their investments, iHForex request the sending of:
- 1 color copy (both sides) of an ID document (national ID or passport)
- 1 bill (electricity, water, telephone, bank statement…) in which the address you provided us appears.
- 1 copy of Card you used to invest
Recto : erase/hide the first 12 digits
Verso : erase/hide the CVV number
OR, if you invested through wire transfer, a copy of the completed transfer certificate.
All those documents have to be sent within 72h following the investment.
How should I send those documents?
iHForex provides its clients with a personal account interface allowing them to upload their files from they computer directly to our website. For such purpose, you should login into your account, go on “profile” / “Upload files”. Then you have two options, you can either click on the “upload button”, and choose the documents to upload, or you can drop your files in the upload box.
How do I fund my account?
There are 3 easy ways to fund your account.
- Credit Card: This is the easiest and fastest way to fund your account. In fact, in almost all instances, funds will be credited to your account immediately when you use a credit card.
- Wire Transfer: Fund your account via wire transfer. Keep a copy of your completed transfer in order to provide it to us along with the requested documents.
- Liberty Reserve
From your “my account” interface, you can deposit funds under the “Funds” section.
What are the advantages to trade with iHForex?
What instruments can be traded with iHForex?
We offer you the possibility to trade:
- Currency pairs: majors, crosses and exotics
The majors are the following:
- Precious metals: Gold, silver
- Energy products: WTI (crude oil), NGAS (natural gas)
- Farming commodities: wheat, corn, sbean, cotton, sugar, coffee
Are stop loss levels guaranteed?
Stops are guaranteed in Forex within regular market conditions. At a time of fast market gaps or market opening, there may be changes regarding the close price. Stop orders also at opening or fast market will be executed, but the order may not be filled at desired price. As a result, the initial risk can be estimated but not guaranteed. During times of extreme volatility it can be difficult or impossible to execute the requested price.
What is the leverage I can benefit with iHForex?
Up to 1:500.
What is the spread quotes?
What is the margin and how can I calculate the margin?
The margin is money you need to have in your broker account to secure your open positions.
iHForex provides you with a margin calculator tool.
When trading Forex, what is the cost of the trade?
With iHForex there are no commissions. The broker is compensated through the spread between the bid and ask prices, from which he also has to deduct the banking costs.
What are the working hours of the Forex market?
The Forex market is open from 22:00 GMT Sunday (opening of Australia trading session) till 22:00 GMT Friday (closing of the USA trading session).
What are the "long" and "short" positions?
Long position is a "buy" position, meaning that this position will be in profit if price increases. Short position is a "sell" position, meaning that this position will be in profit if price decreases.
Can I be long and short (“hedging”) in the same currency simultaneously ?
Yes, for all those clients that use hedging trades, this option is available.
What is the best Forex trading strategy?
There is none. You should constantly develop your own strategies for every possible market situation, if you want to be in profit. A specific Forex strategy can only be good for a certain period of time and for certain currency pairs, commodities or indexes. Furthermore, a strategy on currency for instance might not be appropriate to commodity trading.