About the companyWhat services does Alfa-Forex (Alfa Capital Holdings (Cyprus) Limited) provide?
Alfa Forex (Alfa Capital Holdings (Cyprus) Limited) provides services of Internet trading on the international Forex market. Apart from the customary currency pairs, a wide range of other instruments is also available to our clients: precious metal contracts, CFDs on commodity futures and shares, forward contracts, and Eurobond contracts.How long has Alfa-Forex (Alfa Capital Holdings (Cyprus) Limited) been providing services on the market?
The Alfa-Forex brand has been present on the market since 2003. Before 2011, only legal entities could use the services under the brand. Since 2011, the company has also started providing services to private individuals. In December 2015, Alfa Capital Holdings (Cyprus) Limited became the owner of the Alfa-Forex brand. Detailed information about the company is available on the official website.How is Alfa Capital Holdings (Cyprus) Limited related to Alfa-Bank?
Alfa Capital Holdings (Cyprus) Limited, the owner of Alfa-Forex brand, is legally separate from Alfa-Bank JSC as are AlfaStrakhovaniye, Alfa-Capital, etc., but it is a part of Alfa Group Consortium and enjoys the liquidity of Alfa-Bank JSC.Who provides liquidity for Alfa-Forex?
The main supplier of liquidity for Alfa-Forex is Alfa-Bank that in turn works on the interbank market with more than 30 leading American and European banks, including Goldman Sachs, J.P. Morgan Chase, Citibank, Wells Fargo, Deutsche Bank, Commerzbank, UBS, etc.Does Alfa Capital Holdings (Cyprus) Limited have a license for operations on the FOREX interbank currency exchange market?
Yes, the company is under the supervision of the Cyprus Securities and Exchange Commission (CySec). License number CIF025/04, registration number HE 78416.Where is Alfa Capital Holdings (Cyprus) Limited registered?
The company is registered in the Republic of Cyprus. The office of Alfa Capital Holdings (Cyprus) Limited is located at Elenion Building 2nd Floor, 5 Themistocles Dervis Street, CY-1066 Nicosia, PO Box 25549, CY-1013 Nicosia, Cyprus.Does the company have representative offices in Russia?
The company does not have a representative office in the Russian Federation.What documents regulate the company's relations with a client?
The main document that regulates the Company's work with the Client is the Conversion Arbitrage Transaction Agreement under the Margin Trading Terms and annexes to it in the form of Alfa Capital Holdings (Cyprus) Limited Regulations on Trading Operations. You may study the Company's regulating documents in more detail in the Documents section.Do I have to pay taxes?
Alfa Capital Holdings (Cyprus) Limited is not a tax agent—that is, it does not calculate and withhold personal income tax from its Clients. Paying taxes is a legal duty of any citizen of any country. To calculate and confirm the taxable base, the Client needs to make a request using their Personal Account for a certified report on trading operations for a specified period.
ConceptsWhat is the spread?
The spread is the difference between the ask price and the bid price for any financial instrument traded on the market at any specific moment. This is how banks and brokers generate profit from buy/sell transactions of their clients. It is important to understand that the value of the spread for trading transactions on the FOREX market cannot be fixed since this difference between the ask price and the bid price depends on a number of parameters, such as volatility and liquidity. While a broker, bank, or dealer are capable of maintaining the minimum value of the spread unchanged under calm market conditions, when volatility increases and/or liquidity drops the maximum value of the spread will be determined by the market players. In layman's terms, this can be explained as follows: during a period of uncertainty, every market player strives to buy an asset at the lowest price and sell it at the highest price. Technically, it looks as follows: within the shortest time frame possible, the market players place hundreds of thousands of pending orders with the goal described above. Therefore, the risks of trading operations during the times of publication of major macroeconomic data, force-majeure circumstances, and at nighttime increase substantially. If the parameters of risk management are not fulfilled, such trading by the client will very likely cause losses.What is volatility?
Volatility is the average range of fluctuations of the price of a financial asset, from minimum to maximum, within a certain time frame. This parameter is rather ambiguous since due to it one client may make a substantial profit, and another one may trade at a loss. However, if risk management parameters are followed carefully, such risks can be neutralized.What is liquidity?
Liquidity is the ability of an asset to be sold as soon as possible at the market price within the required time frame. Out of all financial markets, FOREX is characterized by the greatest liquidity. However, liquidity of different currency pairs is always different and depends on the time of execution of trading transactions. If ruble currency pairs are involved, the optimum time for conducting trading transactions would correspond to the trading time at the Moscow Exchange: from 10:00 a.m. to 11:50 p.m. (Moscow time). Trading transactions on ruble-denominated instruments outside of this time range will be accompanied by an increased spread, even though trading in ruble pairs is available round the clock. Correspondingly, there is an optimum time for trading transactions for each financial instrument:
Session name Financial centers Moscow time Pacific Wellington
11:00 p.m.–08:00 a.m.
01:00 a.m.–10:00 a.m.
Hong Kong, Singapore
03:00 a.m.–12:00 p.m.
04:00 a.m.–1:00 p.m.
European Frankfurt, Zurich
10:00 a.m.–7:00 p.m.
11:00 a.m.–8:00 p.m.
American New York
4:00 p.m.–01:00 a.m.
5:00 p.m.–02:00 a.m.Can the prices of different brokers for the same financial instrument be different during the same period of time?
Yes, they can. This phenomenon can be explained by the fact that FOREX interbank currency market is an over-the-counter market, and as such it does not have a single price benchmark at each specific moment of time. This means that the price quotes for financial instruments are determined by the demand and supply of the counter-parties who each broker works with. For example, one broker works with parties A, B, and C, and their many buy/sell transactions in a currency pair, for example, EUR/USD, result in "a1" price at "t" moment in time. Another broker works with parties A, B, Y, and Z, and their many buy/sell transactions in the same currency pair result in "a2" price at the same "t" moment in time. This difference is the strongest during periods of high market volatility when the spread increases, so we always ask our clients to take this into account when conducting transactions at the time new macroeconomic data is released, at nighttime, and when rolling over open positions over weekends and holidays. In layman's terms, a typical example of the situation is the currency exchange rate at different banks during the same period of time. If we try and compare these values, they will differ across the board.Can a pending Stop Loss order activate at a worse price than the one indicated in the order?
Yes, it can. The same happens during the so-called slippage and/or gap, when a situation like the one described below occurs: if the market does not have the price indicated in the client's order, and the price rises or falls relative to the client's open position, the order will be filled on a best efforts basis at the first available price (not order level). Gapping is typical for any financial market where real asset trading takes place, be it the stock, commodity, or currency exchange market.What is slippage?
Slippage is interpreted as a possibility of a Stop order execution at a price worse than the one specified in the order. The likelihood of slippage results from the principle of execution of such orders. Limit orders represent a request to buy at a price lower (i.e., better) than at the current time or, respectively, sell at a price higher (i.e., also better) than at the current time. In contrast to Limit orders, the prices specified in Stop orders at the moment of their placement with the broker are worse than the available market price. This means that a higher price is set in the Stop buy order, and a lower price is set in the Stop sell order than the available market price. This is why, in contrast to a Limit order that represents a wish to buy or sell at a price better than currently offered on the market and that is literally a buy or sell request (which is why they are executed at their own price), Stop orders represent a completely different wish—to buy or sell some asset on the market when the market rate reaches the price indicated in the order. Therefore, the Limit (Take Profit) and Stop (Stop Loss) orders are completely different in their market sense, which unfortunately is not completely understood by some traders who believe that Stop and Limit orders are merely different names. Obviously, Stop orders cannot directly go to the market as the price indicated in the order is worse than the current market price, and such an order would be executed at once since there are always those who are willing to sell to you at a higher price or buy from you at a lower price than is currently available on the market. For this reason, a Stop order commences execution when the market reaches the price indicated in it and is in fact executed at the first price available to the broker. To summarize the above information, it is evident that many broker companies that promise to execute the clients' Stop orders at the prices indicated in their orders do not bring their clients' transactions to the market because if the broker takes transactions to the market while guaranteeing the absence of slippage, it means that they assume a loss equal to the difference between the price at which they will execute the client's order and a price that will really be available on the market at the moment of execution of that order. For these reasons, no real financial institution ever guarantees the absence of slippage.What is a gap?
A gap is a gap in the market price when the exchange rate can move up or down discretely, without execution of intermediately price transactions. The gap phenomenon occurs frequently, for example, at the moment of market opening on a Sunday-to-Monday night if important market events have happened over the weekend. Respectively, when a gap occurs, orders are activated at the first market prices formed after the gap.Can quotes broadcast on MetaTrader4 and MetaTrader5 platforms of a single broker be different for the same financial instrument within the same period of time?
Yes, they can. Such a situation is connected to the fact that filtration of streaming forex rate quotes in MetaTrader4 happens under a different algorithm than in MetaTrader5. As a rule, this difference occurs during periods of increased volatility on the market, when the spread for financial instruments increases. This specific characteristic only applies to currency pairs since FX market trade is over-the-counter, and the streaming rate quotes that arrive from many parties are processed according to different algorithms. In contrast, stock exchange instruments have a standard benchmark price at a specific period of time, and data comes from the stock exchange where the financial instrument is traded.The client's trading account has a negative balance. How could this have happened?
An involuntary closure of the client's trading position by the broker is known as a Stop Out. This situation occurs when the margin level of the trading account falls below the limit specified in the margin requirements available on the website. Let us examine the most typical situations when a negative balance can appear in the Client's trading account:
Nonmarket quote. Cause of occurrence.
- by the market closing on Friday, there was a position left in the client's trading account, for instance, a long EUR/USD position; the market closing price was 1.35250, and the margin of the trading account was 35%. During the weekend, for example, important macroeconomic or political data was released that resulted in the US dollar becoming much stronger in comparison with other currencies, and the market opened at 1.33500 for the EUR/USD pair. In this case, a Stop Out will be activated in the negative zone, and the trading account will have a negative balance since there was not a market price allowing covering the transaction at a margin level above 0%. Let us recall that the trading account margin level is calculated according to the formula: Funds / Margin collateral * 100%
- following a rapid discrete change of the financial instrument price, usually caused by important unforeseen macroeconomic or force-majeure circumstances, when a Stop Out is activated at the first price closest to the margin level below the limit according to the [margin requirements](/en/trading/terms).
A nonmarket quote is a quote that has occurred due to:
- A substantial price gap
- An absence of violent price dynamics before the occurrence of such a quote (price spike)
- An absence of macroeconomic and/or corporate events at the moment of its occurrence that could substantially affect the instrument's exchange rate; and/or other actions or events that have substantially affected the instrument's exchange rate
A nonmarket quote can trigger an incorrect activation of a trade request (transaction/order), closing of a transaction/order under a Stop Out. The reasons for nonmarket quote can be a human factor, a technical failure (as a rule, wrong filtration of data that arrived from one or another party).
If a client suspects that their trading operation (transaction/order) has been activated (opened or closed) based on a nonmarket quote, they need to create a request in the Client's Personal Account in Support > New request > Claim section.
If the claim is satisfied, the trading operations (transactions/orders) activated at nonmarket quotes will be canceled or adjusted for market prices.
Opening an accountHow do I open an account?
To open an account with the Company, you need to complete the procedure of online registration of your Personal Account on the website. Please note that when filling out the form you will be asked to upload a scanned copy or a photograph of your passport (a two-page image of your personal details and the page with the latest residential registration data). Upon completion of the procedure, a login and a password to your Personal Account will be sent to the e-mail address that you have entered into the form as well as a link to activate your Personal Account that you will need to click on to proceed to your Personal Account. You can open a trading account to work in MetaTrader4, MetaTrader5, ActTrader, or ZuluTrade both before and after uploading the necessary documents. Please note that the uploaded documents only affect the procedure of withdrawal of funds but not the trading process or deposits into your client account.How do I get a login and a password for the trading account?
You can open a trading account in your Personal Account, in the Menu section: Accounts – Real Accounts – Create a Trading Account, on the left part of the screen of your Personal Account. The login and password to your trading account will be sent automatically to the e-mail address entered by you after the procedure of account opening has been completed, and the data will be shown simultaneously in the Personal Account.How long does it take to open an account?
The initial procedure of opening a trading account is very simple and takes no more than 10 minutes. This is how long it takes on average to fill in the online registration form for the Personal Account and to upload the necessary documents. As soon as the authorization procedure for the Personal Account is complete, the procedure of opening a trading/client account will not take more than 1 minute.Can I open several demo accounts?
Alfa-Forex does not set a limit on the number of demo accounts for one Client; however, the service life of an inactive demo account is limited to 90 calendar days.How many accounts can I open in my Personal Account?
You may open not more than 5 trading accounts in each category. At the same time, you may open up to 100 investment accounts, up to 6 client accounts, and up to 10 PAMM accounts. This number does not depend on the currency of the account; if necessary, it can be increased after contacting the Customer Support Service.How can I transfer funds from one trading (client) account to another trading (client) account?
Such a transfer can be performed in the Personal Account, in the section: Payments – Reallocation of funds – Reallocation request, after which in a pop-up window you need to fill in the fields "Donor account" (From where) and "Acceptor account" (To where), include the reallocated amount below, and press "Create a request." The transfer will be performed instantly. Please note that trading/client accounts must be opened in the same currency and credited using the same method.Is it possible to open a trading/client account in different currencies?
Yes, you can open a trading/client account in euro, US dollars, or Russian rubles.What risks do I bear when opening a trading account and during subsequent trading operations?
Alfa-Forex does not collect any additional commission fees, for example, for opening or maintaining a trading/client account; so when opening a trading account you incur only trading risks—that is, the risks related to FOREX trading.
Verification of documentsI cannot withdraw funds. What is the possible reason for it?
Withdrawal is not available until your Personal Account undergoes a verification procedure and receives a Verified status. Once the Verified status is obtained, you will see a Withdrawal entry in the Payment section of your Personal Account.What documents are required to verify the Personal Account?
To pass the verification procedure, you need to upload:
- An identification document
- A document certifying the place of residence
Pursuant to the requirement of the CySec regulator, the same document cannot be an identification document and a document certifying the place of residence. A list of identification documents: passport, foreign passport, driving license.
The list of documents certifying the place of residence: the page of the passport with residential registration (together with the main page), a bill from the housing and utility services (issued in the name of the client), a bank statement (indicating the full name and address of the client).How long does the verification of documents take?
The standard verification of documents takes 2–3 working days. If you have a emergency that requires urgent withdrawal of funds, you can contact the Customer Support with a request to accelerate this procedure by phone: 8 (800) 100-62-02, ext. 1.Can I change my personal information in the Personal Account?
You cannot change your personal information on your own.
If your contact details have changed, or the documents have expired, you need to contact the Customer Support via your Personal Account's Support section or by phone: 8 (800) 100-62-02, ext. 1.I cannot upload documents for verification. Why?
The size of the uploaded file cannot exceed 3 MB.
If uploading is not successful, you can send your documents to this e-mail address: email@example.com. Please provide the number of your Personal Account in the Subject field. The Customer Support team will upload your documents to your Personal Account and send them for verification.More than 3 days have passed, but my documents are still not verified. Why?
Please note that after uploading your documents you need to press the Send for Verification button.
If you do not press this button, the Company's specialists will not see your documents, and there will be no verification.
Margin requirementsMargin Requirements
It might not always be clear to a beginner trader how to calculate the minimum amount of funds for transactions with different financial instruments. In this section of FAQ, we will primarily focus on the parameters such choice depends on. Generally speaking, the formula for calculation of the minimum required margin for concluding a transaction is as follows:
Required margin = Contract value * Minimum amount of lots / Leverage
The contract value needs to be expressed using a cash equivalent—that is, if one contract for Brent oil contains 100 barrels and the cost of one barrel is, for example, 65 USD, then the contract value in the given case will be 65 * 100 = 6,500 USD. The minimum volume of an oil transaction is 1 lot, where the value of the maximum leverage for the instrument is 1:20. Let us make the calculation now:
Required margin = 100 65 1/20 = 325 USD — that is,
to conclude a transaction with Brent oil with the cost of one barrel of 65 USD, the Client must have at least 325 USD in their trading account or the equivalent of the amount in another currency at the exchange rate of the trading platform. You can study the current value of contracts for various financial instruments in the Specifications of Contracts section and find the minimum transaction volume via your trading platform. Below we will demonstrate the principles of calculating the minimum required margins for a number of financial instruments.USD/RUB pair
The contract value for this currency pair is 100,000 USD. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:50. Therefore, the minimum required margin for the USD/RUB pair is as follows:
Required margin = 100,000 * 0.01 / 50 = 20 USDEUR/USD pair
Contract value for this currency pair is 100,000 EUR. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:200. Therefore, the minimum required margin for the EUR/USD pair is as follows:
Required margin = 100,000 * 0.01 / 200 = 5 EURUSD/JPY pair
The contract value for this currency pair is 100,000 USD. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:200. Therefore, the minimum required margin for the USD/JPY pair is as follows:
Required margin = 100,000 * 0.01 / 200 = 5 USDGBP/CAD pair
The contract value for this currency pair is 100,000 GBP. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:200. Therefore, the minimum required margin for GBP/CAD pair is as follows:
Required margin = 100,000 * 0.01 / 200 = 5 GBPXAU/USD (Gold)
The contract value for this financial instrument is 100 oz. For example, the cost of one ounce on the market is 1,200 USD; consequently, the contract's cash equivalent is 1,200 * 100 = 120,000 USD. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:100. Therefore, the minimum required margin for gold is:
Required margin = 120,000 * 0.01 / 100 = 12 USDXAG/USD (Silver)
The contract value for this financial instrument is 5,000 oz. For example, the cost of one ounce on the market is 15 USD; consequently, the contract's cash equivalent is 15 * 5,000 = 75,000 USD. The minimum transaction volume for MetaTrader4 and MetaTrader5 is 0.01 lots, and the maximum leverage is 1:20. Therefore, the minimum required margin for silver is:
Required margin = 75,000 * 0.01 / 20 = 37.5 USDSPX (CFD on American S&P500 index futures)
The contract value for this financial instrument is 1 contract per index, and it is directly expressed in the national currency—that is, USD. For example, currently the index is quoted at 2,100 points; therefore, in the cash equivalent it equals 2,100 USD. The minimum transaction volume for this financial instrument for MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:20. Therefore, the minimum required margin for S&P500 is:
Required margin = 2,100 * 1 / 20 = 105 USDDAX (CFD on DAX (German stock index) futures)
The contract value for this financial instrument is 1 contract per index, and it is directly expressed in the national currency—that is, EUR. For example, currently, the index is quoted at 12,100 points; therefore, in the cash equivalent it equals 12,100 USD. The minimum transaction volume for this financial instrument for MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:20. Therefore, the minimum required margin for DAX is:
Required margin = 12,100 * 1 / 20 = 605 EURNIK (CFD on Nikkei225 (Japanese stock index) futures)
The contract value for this financial instrument is 1 contract per index, and it is directly expressed in the national currency—that is, JPY. For example, currently the index is quoted at 21,000 points; therefore, in the cash equivalent, equals 12,100 JPY. The minimum transaction volume for this financial instrument for MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:20. Therefore, the minimum required margin for NIK is:
Required margin = 21,000 * 1 / 20 = 1,050 JPY, which at the USD/JPY rate of 120,000 will equal 2,100 / 120 = 8.75 USDA21 (CFD on Alfa-Bank Eurobonds)
The contract value for this financial instrument will be expressed in USD. For example, currently, the contract is quoted at 4,800 points; therefore, in the cash equivalent it equals 4,800 USD. The minimum transaction volume for this financial instrument in the trading platform is 1 lot, and the maximum leverage is 1:5. Therefore, the minimum required margin for A21 is:
Required margin = 4,800 * 1 / 5 = 960 USDJPM (CFD on J.P. Morgan Chase shares)
The contract value for this financial instrument is 100 shares. For example, the cost of one share on the market is quoted at 65 USD; so the contract's cash equivalent is 65 * 100 = 6,500 USD. The minimum transaction volume for this financial instrument in MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:10. Therefore, the minimum required margin for JPM is:
Required margin = 6,500 * 1 / 10 = 650 USDGOO (CFD on Google Inc. shares)
The contract value for this financial instrument is 100 shares. For example, the cost of one share on the market is quoted at 650 USD; consequently, the contract's cash equivalent is 650 * 100 = 65,000 USD. The minimum transaction volume for this financial instrument for MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:20. Therefore, the minimum required margin for GOO is:
Required margin = 65,000 * 1 / 20 = 3,250 USDFBK (CFD on Facebook shares)
The contract value for this financial instrument is 100 shares. For example, the cost of one share on the market is quoted at 85 USD; consequently, the contract's cash equivalent is 85 * 100 = 8,500 USD. The minimum transaction volume for this financial instrument in MetaTrader4 and MetaTrader5 is 1 lot, and the maximum leverage is 1:10. Therefore, the minimum required margin for FBK is:
Required margin = 8,500 * 1 / 10 = 850 USDLKO (CFD on shares of Lukoil, a Russian oil company)
The contract value for this financial instrument is 5 shares. For example, the cost of one share on the market is quoted at 2,800 RUB; consequently, the contract's cash equivalent is 2,800 * 5 = 14,000 RUB. The minimum transaction volume for this financial instrument is 1 lot, and the maximum leverage is 1:10. Therefore, the minimum required margin for LKO is:
Required margin = 14,000 * 1 / 10 = 1,400 RUBSBR (CFD on shares of Sberbank)
The contract value for this financial instrument is 100 shares. For example, the cost of one share on the market is quoted at 75 RUB; consequently, the contract's cash equivalent is 75 * 100 = 7,500 RUB. The minimum transaction volume for this financial instrument is 1 lot, and the maximum leverage is 1:10. Therefore, the minimum required margin for SBR is:
Required margin = 7,500 * 1 / 10 = 750 RUBGZP (CFD on shares of Gazprom oil and gas company)
The contract value for this financial instrument is 100 shares. For example, the cost of one share on the market is quoted at 150 RUB; consequently, the contract's cash equivalent is 150 * 100 = 15,000 RUB. The minimum transaction volume for this financial instrument is 1 lot, and the maximum leverage is 1:10. Therefore, the minimum required margin for GZP is:
Required margin = 15,000 * 1 / 10 = 1,500 RUB
Deposits and withdrawalsHow can I top up a client account?
You may use the following methods to top up a client account:
- By a bank transfer at any Alfa-Bank branch
- Using the Alfa-Click system
- By a bank transfer from a third-party bank
- By making a bank card payment through the Personal Account;
You can top up only a client account opened in the Alfa-Forex Personal Account. You can learn more about methods of depositing and withdrawing funds in the Deposits and Withdrawals section. Please note that the option of withdrawing funds will only be available after your Personal Account is verified by the Company's experts.How can I transfer funds from one trading (client) account to another trading (client) account?
Such a transfer can be performed in the Personal Account, in the Payments – Internal Transfer – Request for Internal Transfer of Funds section, after which in the pop-up window you will need to fill in the Donor Account (From where) and Acceptor Account (To where) fields, enter the amount to be transferred below, and press "Create a Request." The transfer will be performed instantly. Please note that the trading/client accounts need to be opened in the same currency.Are there any commission fees for depositing or withdrawing funds?
Alfa-Forex does not charge any commissions for depositing or withdrawing monetary funds.
How long does it take to transfer funds to a client account with Alfa-Forex?
- If your bank account is opened with Alfa-Bank, then depositing or withdrawing funds is performed without any additional fees.
- If the bank account is opened with another bank, then the transfer of funds is subject to a commission fee in accordance with the rates of the bank providing the service to you.
- When crediting the client account using a bank card, the commission fee is charged by the processing center and amounts to 1% for cards issued by Alfa-Bank and 2% for cards issued by third-party banks.
The period of crediting a client account depends on the selected method of transfer of funds.
Why don't Alfa-Click payments between Alfa-Bank and Alfa-Forex go through immediately?
- If the payment has been made using a bank card, then the funds are credited to the client account immediately.
- If the payment has been made through Alfa-Click, then the funds will be credited within 2 business days.
- A bank transfer from a third-party bank might take up to 5 business days.
In the Alfa-Click system, monetary funds are written off your bank account and arrive to the settlement account of Alfa-Forex instantly. After that, the transfers are credited to client accounts in order of precedence.
If you wish to accelerate the crediting of the transferred funds, please contact the Customer Support Service at 8 800 100-62-02, ext. 1.Is it possible to transfer funds received from another person to a client account?
Neither client account deposits from third parties nor withdrawals to any third-party bank account are possible.Which documents are required for crediting funds 600,000 RUB exceeding to an Alfa-Forex client account through an Alfa-Bank branch?
To arrange payments exceeding 600,000 RUB (in a single transaction), it is necessary to print the Conversion Arbitrage Transaction Agreement under the Margin Trading Terms and contact the clients Support Service via the phone numbers shown on the website for client Application Form preparation. Subsequently, when processing a payment through a branch, it is necessary to hand the Agreement to the Alfa-Bank's employee who is processing the payment for signing. Every page of the Agreement (from 1 to 10) must bear the bank stamp, the employee's signature, and the client's signature.
Such a document will not be required if the payment is split into several payments amounting to 600,000 RUB or equivalent sum in USD, EUR.How long does a withdrawal take?
Withdrawal applications received before 12:00 p.m. MST of the current working day get processed on the same working day. Alfa-Bank customers receive the money not later than at the end of the following working day after processing of the application. Customers of a third-party bank usually receive the money within 2–5 working days.I cannot submit a withdrawal application. What is the reason?
Withdrawal is not available until your Personal Account undergoes a verification procedure and receives a Verified status. Once the Verified status is obtained, you will see a Withdrawal entry in the Payment section of your Personal Account.I withdrew money more than 3 working days ago, but I still have not received it in my bank account. What should I do?
- Contact our Consulting Department and request a copy of the bank transfer order confirming the fact of the transfer. You can contact us by calling 8-800-100-62-02, through our online chat on the website, by sending a message in your Personal Account or an e-mail to firstname.lastname@example.org.
- Go to your bank with the transfer order to verify the correctness of your bank details. If on withdrawal the account details were specified incorrectly, or there was a mistake in the bank transfer order, communicate to us the correct account details so that we can send a payment clarification with the correct details of the beneficiary.
Wait until the funds are returned to the Alfa-Forex current account, after which the return amount will be credited back to your client account in your Personal Account, and after adding correct bank details it will be possible to resubmit the withdrawal application.How can I withdraw funds to a bank account different from the one specified by me earlier in my Personal Account?
It is necessary to add the details of an additional bank account in your Personal Account — Payment Details — Bank Accounts — Add EUR/USD/RUB depending on the bank account currency. Having added a new bank account, you will have the possibility to withdraw funds to it.Why cannot I deposit/withdraw funds to the account by means of the WebMoney payment system?
Deposit and withdrawal of funds by means of WebMoney payment system is impossible because the Company has shifted to the new jurisdiction of CySEC (Cyprus Securities and Exchange Commission).Can I withdraw funds if I am a citizen of Ukraine or another country?
Yes, of course. To do this, you need to have a bank account with any bank; however, your residency status at Alfa-Forex and the one at your bank must coincide.Is it necessary to pay taxes for working in Forex?
Alfa Capital Holdings (Cyprus) Limited is not a tax agent and does not withhold taxes from clients. Paying taxes is a statutory duty of every citizen of any country; however, it is left to the client's discretion. Traders who are residents of the Russian Federation have to pay personal income tax at the current rate of 13% on their own. To calculate and confirm the taxable base, the client can download their trading operations history from MetaTrader and submit it to the tax authorities. On its part, Alfa Capital Holdings (Cyprus) Limited can at the client's request provide a certified statement of the client's trading account as a confirmation of the taxable base.Is it possible to withdraw funds if positions are open?
Yes, you can withdraw funds if the Free Margin indicator in the trading platform has a positive value.I transferred funds to an Alfa-Forex client account, but I made a mistake in the payment purpose field, what should I do?
If you made a mistake in the payment purpose field, a refund to the bank account from which the payment was received shall be executed within 5–7 working days. However, you can request payment verification, in that case you need to inform the Customer Support Department of your intentions by calling: 8 800 100-62-02, ext. 1.How can I submit an invoice for money transfer?
Only Alfa-Bank clients can submit an invoice because the invoice is paid via the Alfa-Click internet bank. You are supposed to go to the “Deposit” section of the Personal area and click the “Create deposit” button. After choosing a personal account to be funded select “Alfaclick” from the “Payment system” dropdown list. An invoice will be submitted after you fill in your Alfa-Click login and a deposit sum. The invoice is paid in Alfa-Click itself. No additional data is required. Please note that this method can be used only for ruble deposits.Can I withdraw funds to foreign banks?
As required by our regulator CySec deposits and withdrawals are confined within one country. If you transferred funds from a Russian bank you must withdraw funds to any Russian bank. To withdraw funds to a foreign bank you must transfer funds from this country bank.
MetaTraderWhat does the Balance indicator mean?
The Balance shows the amount of money in the client's account that has been credited to the client's trading account, inclusive of profit and losses on closed positions but exclusive of opened positions.What does the Equity indicator mean?
Equity shows the amount of money in the Client's account inclusive of open positions. Calculation formula: Funds = Balance + Profit on open positions – Loss on open positionsWhat does "Trade stream is busy" error in the MetaTrader terminal mean?
The "Trade stream is busy" message appears if a transaction attempt failed, and the Client's trading terminal did not receive a response about the status of a previous request to the server. Usually, this error appears if the network connection between the trading server and the Client' s terminal is lost. If this message is displayed, restart the terminal. For this, it is necessary to press the File button in the main menu, choose the Exit option in the right-click menu, and then restart the terminal again so that you could resume trading transactions.I received a login and password for MetaTrader access, how can I start trading?
To perform trading transactions, you have to download the trading terminal from our site. You can find download links for the setup files in the Platforms section. Then, it is necessary to download the platform setup file by means of the Download function located near the logo of the trading platform you need. Next, you have to open the downloaded file and install the program following the instructions of the terminal installation wizard. Upon successful installation, the terminal will be started automatically. Then, click the File button in the main menu, choose the Log in/Connect to trading account option. Enter the login and password in the window that appears. In the Server line, choose AlfaForex-Server to connect to MetaTrader4 and click the Log in button; for MetaTrader5, choose the AlfaForex-Real Server and click the OK button. After clicking the button, the server connection will be established, and the terminal will be ready for operation.Where could I find the MetaTrader4/MetaTrader5 help menu?
MetaTrader terminals have a help menu; to open it, press F1 when the terminal is open. You can also use the Help button in the main menu and choose the Help Topics option.How can I determine that the authorization in Meta Trader4/MetaTrader5 was successful?
There are primary parameters that confirm the authorization:
I cannot log into the MetaTrader terminal. What could be the problem?
- A record in the Log tab of your terminal confirming the successful authorization (a line with the Your account number: login line and the current time).
- On successful authorization, your login will be displayed in the upper left corner of the terminal.
- The quotes for various instruments in the Market Review window will start updating.
- The figures in the lower right corner will change regularly, and the connection indicator will contains red and green stripes.
There are several main reasons:
Why a does a "Wrong account" message appear in MetaTrader?
- Please make sure that you choose the AlfaForex-Server for connection to MetaTrader4, and AlfaForex-Real Server for MetaTrader5.
- MetaTrader login can contain only numbers but no letters. Make sure that copying the login combination from registration e-mail you have received you do not copy the space before or after the login.
- MetaTrader password must be entered in Latin characters and is case-sensitive. To enter the password correctly, we recommend copying it from the registration e-mail to Notepad (a standard Windows OS program), making sure there are no spaces before or after the password combination, then copying the password from the Notepad to the Password field in MetaTrader when logging in to your trading account.
- Please make sure you use the MetaTrader4 login and password to log in to MetaTrader4 and the MetaTrader5 login and password to log in to MetaTrader5. MetaTrader4 system credentials cannot be used to log into MetaTrader5 and vice versa. Likewise, the credentials for your Personal Account on our website or for the ZuluTrade system cannot be used to enter the trading terminal.
- Perhaps your PC is not connected to the Internet. Please make sure you have a proper Internet connection.
- Perhaps the antivirus software or firewall (Kaspersky Antivirus, NOD32, Norton Antivirus, Dr.Web, Windows firewall, etc.) installed on your PC block the trading terminal operation. Please check your security system settings (MetaTrader4/MetaTrader5 trading platforms operate through port 443).
This message appears if the login and password combination you are entering does not exist on the MetaTrader server you have chosen. Please make sure that in MetaTrader4 you choose AlfaForex-Server for connection, and in MetaTrader5, AlfaForex-Real Server. The MetaTrader login is always numeric and cannot contain letters. Make sure that when copying the login combination from the registration e-mail you have received you do not copy the space before or after the login. The MetaTrader password must be entered in Latin characters and is case-sensitive. To enter the password correctly, we recommend copying it from the registration e-mail to Notepad (a standard Windows OS program), making sure there are no spaces before or after the password combination, then copying the password from the Notepad to the Password field in MetaTrader when logging into your trading account.Which time zone is displayed in the MetaTrader4/MetaTrader5 terminals?
Currently, the time displayed in trading platforms corresponds to Moscow Standard Time.My order has been executed, but the price is not on the chart. What is the reason?
Most probably, your order has worked at the Ask price (in case of a buy order opening or sell order closing), but the charts in MetaTrader terminals are set only to Bid prices, which is why the Ask price is not displayed on the chart. The difference between Ask and Bid is called spread.Why is the New Order button in the trading terminal inactive?
If the New Order button is inactive, this means you have connected to the trading account using an investor's password. To perform transactions, you have to use the master (trader) password to the trading account when connecting to the terminal. Investor's password allows only viewing trading account transactions and the account status in online mode, but it does not allow making trading transactions.The trading account history in MetaTrader4 has an order with zero volume. Where does it come from?
Zero volume can appear if you have used the Close Offsetting Positions or Close by Offsetting options after choosing the corresponding option in the Type field in the Edit or Delete the Order window.How do the charts get generated in the trading terminal?
In the MetaTrader terminal, the charts are set only to Bid prices and display the current market profile.What is a Trailing Stop?
A Trailing Stop is an efficient tool which allows automatically setting Stop Loss at a defined level from the current price. It is perfect for situations when the market is moving swiftly in one direction, and the trader does not have the possibility to track price changes.
Concept: when the Trailing Stop level is set, the terminal constantly monitors the number of points between the entry point and the current price. If the required "gap" is reached, Stop Loss is set according to the preset parameters. Once the price moves in the required direction, Stop Loss follows it automatically according to the preset interval. If the position loses profit, Stop Loss remains the same. As a result, during negative market movement transaction closing position is automatically fixed at the Stop Loss level. Please note that Trailing Stop is available in MetaTrader only if the Client's terminal is connected to the Company's server.The MetaTrader terminal does not display most currency pairs and other tools, why?
At the first start of the trading platform, a standard list of currency pairs is displayed. To see the whole list, right-click any currency pair in the Market Review window and choose Show All for MT5 or Show All Symbols for MT4.What do MetaTrader sound alerts indicate?
The sounds you hear are news alerts. To disable them, do the following:
a) Open the Service tab — Settings — Events tab — Event column — News section.
b) Left-click twice on the bell (alerts disabled).Why are the Buy and Sell buttons inactive?
Most probably, you have chosen a volume which is not available for the transaction or you have logged in with an investor's, not a trader's, password.Where can I view swaps for currency pairs?
To view swaps, you need to do the following:
Why is my transaction highlighted in red?
- In case of MT4, right-click on the currency pair of interest in the Market Review window, choose Symbols, and click Properties.
- In case of MT5, right-click on the currency pair of interest in the Market Review window and choose Specification.
If the Stop Loss value has turned red, this means the price is getting close to the Stop Loss value. If the whole line has turned red, this means that the margin level has gone below 100%. Once the margin level goes below the limit, your trading position will be forcibly closed by the Company in accordance with the margin requirements (Stop Out closing).What is the difference between MT4 and MT5?
These platforms are quite similar, but there are small differences in the interfaces and trading conditions. The main difference is that in MT4 the Client can lock a position (have positions in the opposite direction for the same currency pair), and in MT5 upon opening of related transactions for the same currency the positions get averaged so the Client can have only one position open for each instrument. More details about the platform differences can be found in the Conditions section.What does the tick volume on the chart of the MetaTrader terminal indicate?
The tick volume in MT4 and MT5 does not indicate a real value of trading volume either on the market or at the Alfa-Forex company. This volume indicates only the number of ticks per unit of time chosen, thus illustrating the sellers' and buyers' activity.How can I view the Ask line on a chart?
To view the Ask line on a chart, just hover your mouse cursor over the chart, right-click Properties in the appearing window, choose Show in the opened menu, check the Show Ask Line box, and click OK.How can I install MT4/MT5?
To install a terminal it is necessary to download a distribution and launch it. Then it is necessary to select an installation folder and follow the wizard’s hints. As soon as the installation is complete the terminal will launch automatically and the program shortcut will appear on the desktop. You can download the distributive from the website: Support and then “Trading platforms”.
Investment accountsHow can I select an investment account?
Before investing your funds, it is necessary to select an investment account.
The main criterion for investment account selection is trade aggressiveness. As an investor, you set your priorities: rapid growth of profit with high risk or small percentage of profit but with lower risks of loss of the deposit. You can also create an investment portfolio that will include several investment accounts with different trading strategies by the managers.
To estimate trading aggressiveness, you have to consider the Drawdown and Deposit Upload charts in the investment account monitoring.
The Drawdown chart shows the maximum value of deposit drawdown in relation to the investment account balance on a specified date.
There is 10,000 USD in an investment account; transactions with the total negative profit value of minus 500 USD are opened. With such parameters, the investment account drawdown amounts to 5%. This is a good value, so such accounts will be suitable for long-term investments.
Concept: The bigger the drawdown, the better.
Low drawdown means that the Manager controls their transactions and, according to their trading strategy, tries to close losing positions as soon as possible.
"Deposit Upload" is another important chart. It shows the information on what part of the account deposit is used as a collateral for open positions.
There is 100,000 RUB in an investment account. There are several positions open with a collateral of 50,000 RUB. The deposit upload indicator is then equal to 50%. Half of the funds in the account are pledged. This means that the volume of positions in the market is big, and a swift price movement can potentially cause significant losses. High deposit upload is typical of accounts with an aggressive trading strategy.
Concept: the lower the deposit upload, the safer the situation, but in turn the lower the profit margin.
Account stability is estimated through the Profit and Funds and Balance charts. If the Profitability chart is stable and has no surges of either profit or loss, the account can be considered stable, which means that the Manager's trading strategy is balanced and has a clearly defined model of market entry and exit.
As a rule, the charts of accounts with a high percentage of profit have a sawtooth shape.
The Funds and Balance chart shows two indicators: Balance (the sum of deposits and withdrawals, not including open positions) and Funds (actual assets in the account). There should be no significant discrepancy between these indicators, otherwise it characterizes the account as extremely unstable.
If the funds are less than the balance, the investment account has an unrecorded loss. In the chart, these two indicators are marked with green (Balance) and red (Funds) lines.
The Manager's Capital chart shows the amount of investments of the account holder. A high capital distinguishes the Manager as a trader with a serious approach. The capital can be withdrawn only in case of the investment account liquidation. The last indicator that is worth paying attention to when selecting an investment account is account expiration. If an account has been active for a long time, profitability grows, and the funds chart does not deviate from the balance chart too much, it may be concluded that the Manager's strategy works.Do deposits and withdrawals influence the investment account profitability?
Deposits and withdrawals do not influence the investment account profitability. Investment account profitability changes only after the share cost change. Requests for deposits, withdrawals, and remuneration payments are executed after the share price calculation.How can I withdraw funds from an investment account?
To withdraw funds from an investment account, log into the Personal Account and go to the Investments section. Click on the Investment Accounts, and you will be transferred to the list of current accounts. Click on the Withdrawal button next to the account of interest.How to invest in an investment account?
To invest funds in an investment account, log in to the Personal Account. Go to the Investments section and click on Investment Accounts. Click on the Create an Investment Account button and then on Select an Investment Account. The selection form will ask you to enter the number or the name of the investment account of interest. Accept the service conditions and click Create a Request. You will be forwarded to your investment account list. All that remains is to click on the Enter button.How can I open an investment account?
To open an investment account, log in to Personal Account, go to Accounts — Investment Accounts, and click on the Create an Account button. Next, fill in all the required fields and click Create a Request. After that, you will receive an e-mail with the MetaTrader credentials at the e-mail address specified during registration.How much money is needed to become an Investor funds manager?
To become an Investor funds manager and open an investment account, you must have a personal account of a minimum of 100 USD, EUR or 100 RUR.How can I credit an investment account?
All deposits/withdrawals of funds within the investment account service are performed through client and investment accounts. To deposit funds to an investment account, you need to top up your client account, the currency of which coincides with the investment account currency. A separate investment account is created for every investment account for conducting automated deposit/withdrawal operations. The currency of this account also coincides with the currency of the PAMM account it is linked to.
To submit a request for deposit of funds to the investment account, you have selected, log in to Personal Account, go to the Investments section, and click on Investment Accounts. Next to each investment account, you will find a Deposit button.
Note that the depositing will be performed during the next active rollover—that is, the hour specified by the Manager as open for deposits/withdrawals and remuneration payment.How is the Manager's remuneration calculated?
Remuneration is a percentage of an investment account profit that is paid to the Manager for their work on the account. The remuneration rate is specified in the offer you can find on the corresponding tab on the PAMM account monitoring page.
The remuneration is paid only in two cases: at the end of a trading interval and upon funds withdrawal by the Investor. In both cases, the investment account must show profit.
Before the payment is effected, the Funds and Balance parameters of the investment account are automatically compared. If the difference between Funds and Balance is positive (Funds exceed Balance), the received value is multiplied by the commission percentage specified by the Manager in the offer. This amount is written off from the investment account. Please note that after the payment the number of investment account shares will be reduced because it is necessary to sell a part of shares to pay the remuneration.
One should also keep in mind the peculiarities of paying remuneration, when a withdrawal request is executed inside a trading interval, rather than it executed after a trading interval is over, or a Manager’s investment account has the option of paying remuneration only after withdrawal of funds; in that case the requested sum will be withdrawn from an invested account. After this remuneration will be separated from the requested sum and will be transferred to a Manager. The investor will receive a sum less than requested on his personal account.How is investment account profitability calculated?
Investment account profitability is calculated on a percentage basis according to the formula
(P2 – P1) / P1 * 100, where
P2 is the share cost at the end of the period, P1 is is the share cost at the beginning of the period.How can I close an investment account?
If you are a Manager and want to withdraw all funds from your investment account, you have to make a request for liquidation. This can be done in the Support section in the Personal Account. Please select the investment Liquidation request type and click on New Request.What fee do I pay for using the investment account service?
You pay no fees for investing funds in investment accounts apart from the Manager's remuneration paid from profit. If the Manager causes losses, they will not obtain any remuneration until they compensate the loss.How is the investment account profit distributed?
Profit and loss on an investment account are distributed depending on the trading account Balance change in the MetaTrader terminal. Only the Balance change occurring because of closing trading positions is taken into consideration. When the Manager closes a position, the trading account Balance in the MetaTrader terminal changes, which results in a proportional change of share price.
Each PAMM account investor has a fixed number of shares. Consequently, on any share price change, the value of each investor's shares rises or falls, and the funds of each participant of the account increase or decrease.What is an investment account Investor?
An investment account Investor is a Company's client who invests funds in investment account they have chosen. To do this, the Client creates their own investment account included in the investment account.What is an investment account Manager?
An investment account Manager is a holder of a trading account other investors can connect to. Only the Manager can open and close transactions using a trading terminal. The investment account parameters upon its opening. Investment terms are determined when creating an offer (for investors).Can the Manager change terms for investing in their investment account?
The Manager can create new offers and set different conditions of working with Investors at any time. After creating an offer, the Manager loses the opportunity to introduce changes to it. That is why an Investor who accepted the terms of the offer when connecting to an investment account will always work in accordance with them. Only one of existing offers of an investment account Manager can be active—that is, available for connecting new Investors.Is it possible to invest funds in several investment accounts?
You can invest funds in an unlimited number of investment accounts. A separate investment account is created in the Personal Account for investing in each investment account.
You can also create several investment accounts included in the same.Insufficient funds/Unable to withdraw money. What does it mean?
Unfortunately, the investment accounts system cannot execute requests for instant withdrawal of funds.
It will make the Manager's trading impossible. That is why funds are withdrawn from investment account as follows.
At the time of request execution, the system compares the sum of withdrawal with the Free Margin parameter of the investment account. This is the level of account funds available for supporting open positions.
If the free margin is insufficient, the request is transferred to the next active rollover.
At the same time, you will see an Insufficient Funds request status on the transactions page.Why doesn't the rate of return of my investment account correspond to the chart rate of return?
The investment accounts system works as follows: when creating an investment account, the Manager automatically gets 100 shares. A share base price equal to the deposit sum divided by the number of shares is assigned. Let us say the Manager deposited 1,000 USD. They got 100 shares, respectively, the share base price in the account is equal to 1,000 / 100 = 10 USD. Let us assume that the Manager recorded profits equal to 1,000 USD. The account equity doubled. The share price in the investment account also doubled and became equal to 20 USD. Profit in the account is equal to (20 – 10) / 10 * 100 = 100%. After a while, the share price in the account rises to 90 USD. Profit in the account becomes equal to (90 – 10) / 10 100 = 800% from the start of the account operation. Next day, the Manager gains additional profit, and the share price rises to 100 USD. From the start of the account operation, the profit will be equal to (100 – 10) / 10 100 = 900%.
The day before, the profitability was equal to 800%. If we simply subtract percentage from percentage (900% – 800%), we get 100%, although the share price increased only from 90 USD to 100 USD for that day—that is, the Investor's profit was (100 – 90) / 90 * 100 = 11.11%. It is wrong to subtract one percentage from the other to calculate profit over a period because percentage that you see on the chart is the percentage of profit since investment account creation. Similarly, if you see that the chart rate of return decreased from 900% to 800%, it does not mean that PAMM account funds are lost. Furthermore, you should keep in mind that the PAMM account profitability chart does not take into account the Manager's remuneration.What does the Deposits/Withdrawals column mean in the investment account offer?
The cells of this column to the left of the slash indicate the minimum sum (in investment account currency) that you need to have in the client account to connect to the investment account. The minimum possible sum that may be withdrawn is shown to the right of the slash.What does the Requests not Accepted for indicator mean?
"Requests not accepted for" shows the time until active rollover during which you cannot submit deposit/withdrawal requests. Indicator is set in minutes.What does the Minimum Participation Period indicator show?
Minimum Participation Period shows a period of time after which an investment account Investor can apply for withdrawal of funds. Please note that the count starts from the moment of the last deposit of any sum in the investment account. The indicator is set in days.What is the Balance of the investment account?
First, it is worth noting that the Balance of the investment account cannot be considered real assets of the account.
Balance is just an indicator, level from which the remuneration is counted; such remuneration will need to be paid from profit.
Let us assume that Balance of the account is equal to 2,000 USD, Funds amount to 3,000 USD, and the Manager's remuneration is 40%.
When a trading interval is over, the investment accounts service subtracts Balance from Funds, and the Manager automatically receives remuneration equal to (3,000 – 2,000) * 40% = 400 USD from the resulting difference.
After payment, the net funds in the investment account are equal to 3,000 – 400 = 2,600 USD.
The Balance is equated to funds and increases to 2,600 USD, setting a new point from which remuneration is counted.
If the Balance exceeds the Funds, it means that the investment account is at a loss. If the Balance is equal to 3,000 USD, and the Funds, to 2,000 USD, the Investor will be able to withdraw only 2,000 USD; however, they will not pay any remuneration to the Manager until the Funds exceed the Balance.What is a closed period?
The closed period is a time period after the end of which the record of transactions for those clients who invested in the investment account is reflected in investment account record. The closed period is determined by the investment account manager.What is Investment Account Capital?
The Investment Account Capital is the sum of all deposits to an investment account.What is a share?
A share is the main unit of the investment account service. It is the number of shares that defines the portion of your profit in the common profit. The Manager's trading alters the share price in the investment account. If price of a share increases, the number of shares bought by you is multiplied by a greater number, thus increasing your assets. If there are 10 shares in an investment account, and 2 shares of them belong to you, then you will receive 20% of the profit recorded by the Manager. However, you will also absorb 20% of a loss.What is an investment account? How does it work?
An investment account is a highly profitable investment instrument that implies a proportional distribution of profit obtained as a result of asset management between all account participants (Manager and Investors). In practice, it looks like the following: The Manager creates an investment account, deposits, for example, 1,000 USD of own assets to the account, and trades on it for some time. In a few days two Investors appear: the first one provides 100 USD, the second one provides 200 USD. Let us suppose that after investing assets the profitability of the investment account will increase to 10%. In such a case, profit will be distributed in the following way: The Manager will receive 100 USD; the first Investor, 10 USD; and the second one, 20 USD. The investment account Manager, however, will take a commission from the profit as remuneration for successful work.What is investment account rating?
Investment account rating is a list of active accounts, existing over 30 days (the counting starts from the day when the account was funded for the first time). By "active" we mean the accounts on which there has been at least one trade for the last 30 days.The rating contains the accounts only with a positive rate of return and with an active offer for investors. If there is no trading on the account but it has not been yet liquidated, it will be displayed in the rating for 30 days more. The rating contains only accounts with a manager's capital from $1 000, €1 000 or ₽60 000.
The rating is based on the return to risk ratio: the day-over-day return statistics according to the results of the last 365 continuous days and the maximum daily risk (or drawdown) on the account during the same period of time. Thus, the accounts with the best “risk/return” ratio during 365 days will get to the top. The rating is refreshed once per day.What is a rollover/open rollover?
Rollover is a profit distribution procedure in an investment account and data update technique in the Personal Account and on the website of the company. Rollover occurs every hour. One of rollovers in 24 hours can be open. It means that apart from profit and loss distribution, requests for withdrawal and remuneration payment are processed during the rollover. Please note, that all deposit requests are executed the next hour regardless of a rollover schedule.What are Assets of an Investment Account?
The Asset parameter reflects the actual assets of an investment account. Assets are calculated as the numbers of shares purchased by the Investor multiplied by the share price. As soon as the price of a share changes, the available number of shares is multiplied by the new share price, so the assets of an investment account increase or decrease.I opened an investment account but it did not make it into the rating. Why?
The investment account rating reflects accounts existing more than 5 days with a positive profitability, and the Manager's capital must be over 50 USD/40 EUR/1,500 RUB. The rating conditions for an account can change.I made a deposit into an investment account, but the money is still not credited to the account. Why?
Funds are deposited (and withdrawn) in the closest open rollover (time selected by the Manager for processing requests). If the funds are not credited, check if they have been debited from your account. In case of any difficulty, or if you have additional questions, please contact Customer Service.What is the share price?
The share price is the main calculated indicator used for profit and loss distribution.
The share price changes in proportion to equity on a trading account (deposits and withdrawals are neglected).
Share price calculations:
A manager opens an account and deposits 10 000 RUR.
The investment accounts system transfers to the account 100 shares (by default) and determines the basic share price of 10 000/100=100 RUR.
The manager opens a position. By the end of the hour the floating profit reaches 2 000 RUR.
At the beginning of the next hour the system determines that equity has increased to 10 000+2 000=12 000 RUR.
In per cent the return has made (12 000-10 000)/10 000*100=20%.
The share price has become equal 100+20%=120 RUR.
The market situation has changed. The floating loss has resulted in equity decreasing to 6 000 RUR.
In per cent the loss has made (6 000-12 000)/12 000*100=-50%.
The share price has become equal to 120-50%=60 RURHow does a manager's declaration work?
The manager's declaration is a service, allowing a trader to set a stop loss level on an investment account. ] If, after the declaration is launched, the loss exceeds the specific level, set in percent, all positions on the account will be automatically closed, while trading will become restricted for 5 working days. The investors of an account with a triggered declaration are free to withdraw funds (if it does not contradict minimum investment period conditions).
As soon as a declaration is activated, the benchmark share price is saved. The declaration is triggered if a new calculated share price on an investment account goes below the stop loss level, set by a manager. If the automatic check shows that a new share price exceeded the benchmark share price, the new share price is saved as the benchmark one. Thus, investors, who joined the investment account while its rate of return was growing, are also protected from losses above the one specified by a declaration. The declaration working principle resembles the Trailing Stop function provided for by MetaTrader.
Please note that the declaration check is conducted every minute, besides, Forex market position closure may be carried out not instantly. That is why in case of high volatility potential loss on an investment account may exceed the maximum loss set by a manager’s declaration.
Declaration cancellation is regarded as deterioration in investment conditions. That is why the declaration may be cancelled only if every single account participant expresses their desire to abandon the declaration by sending a message to the supporting team via Personal area.What is the investment account net?
The net is an indicator designed to evaluate the effectiveness of your investment.
The net is all the withdrawals from an investment account deducted from all the deposits to it. Manager’s remuneration does not participate in the calculation.
A negative net means that an account brought you profit because you withdrew from the account more than you deposited.
If the equity of an account exceeds the net the account brings profit as well because the current assets surpass the sum of deposits and withdrawals.What requirements to the investment accounts' names does the company have?
The name and description of an investment account must not contain any of the following elements: obscene language or any elements that are insulting in nature, including racial, religious, nationalistic and ethnic slurs; guarantees of profits or other promises; direct or indirect references to competing companies or their advertisements; the names of government officials and agencies; references to gambling or financial pyramid schemes; and references to the investment accounts of other managers or other internet resources. The following elements can be used: the manager’s first name and last name; the names of trading indicators; descriptions of an advisor or trading strategy; the denomination of the account; and any other elements that don’t violate the restrictions listed above. The name and description must not contain the words «Alfa-Forex», «AlfaForex», «Alfaforex», «alfaforex», «Alfa-Bank», «AlfaBank», «Alfabank», «alfabank», and all the names to be associated with the Alfa-Group companies.The Company reserves the right to change the name of PAMM Accounts at its own discretion and without prior warning.
EurobondsWhat is a CFD?
A CFD is a contract for the price of goods or an asset—that is, a financial derivative instrument that allows trading assets and goods without delivery or purchase of the goods or assets themselves. Contracts for difference are used for shares of companies, stock indexes, government bonds, and commodities. At the same time, additional actions related to acquisition and formalizing of the assets are not required.What is a Bond?
A bond is a a debt security whose owner may receive from an issuer of a bond its nominal value and revenue as percentage of the nominal within a stipulated time period (accrued coupon rate or ACR). Bonds are issued both by governments and various companies. Process of bond issue is called issuing, and a party who issued a bond is called an issuer.How can I open an account to trade CFDs on bonds?
To open a Bonds account, you should log into your Personal Account and go to Accounts, then create a Bonds MT5 account . The data (login and password) to enter MetaTrader5 will be sent to the e-mail provided during registration.In which currency is it possible to top up the account?
Deposits can be made in rubles, dollars, euro. We recommend topping up the account in dollars as it allows avoiding constant recalculation of the margin level when the exchange rate of the trading account changes.What is a minimal investment amount?
A minimal investment amount is the amount necessary for purchase of one lot. If one lot is equal to 5,000 USD, and the leverage is equal to 1:5, the minimal deposit will be 1,000 USD.How can I top up an account?
You can top up an account using a card of any bank or bank transfer. It is convenient for Alfa-Bank customers to make deposits to an account via the Alfa-Click system or an Alfa-Bank branch. Detailed information regarding transfer of funds is given in the Deposits and Withdrawals section.What does the price in the graph in MT5 indicate, and why is it different from the bond price?
The price in the graph in MT5 is provided on the basis of calculation of price for one contract 5 bonds are included in (using 1:5 leverage); therefore, it is sufficient to divide the price of the contract by 5 to learn the price for one bond. To learn the bond price as a percentage of the nominal value, it is required to divide the price by fifty (50).What determines the coupon rate?
The coupon rate is dependent on the funding rate and the bond interest declared in the issue prospectus.What is the funding rate?
The funding rate is a fee charged for client funding (provision of credit leveraging).Can I make a transfer between a trading account and a Bonds MT5 account?
Yes, you can. What is most important is that the method of topping up the accounts and their currency coincide. You can make a transfer in the Personal Account.Am I the owner of the bonds purchased by me?
No, since you carry out transactions not with bonds but a financial derivative instrument (CFD) based on them.Where is it possible to look up the bond maturity date?
The maturity year is indicated in the name of the instrument (e.g., Alfa-Bank-21 USD 7.3/4). This means the bond will mature in 2021. The exact date is provided on the website in the Contract Specifications and/or the issue prospectus of each bond.Where to find the issue prospectus for a bond?What income will I receive?
The profitability of this instrument can reach 20%–30% per annum in foreign currency accounting for leverage. It is formed from the passive income accrued daily and the possibility to reinvest the obtained income in buying a greater quantity of CFDs.How is passive income of a CFD on an Alfa-Bank-21 USD 7.3/4 bond formed?
The CFD specification as of December 3, 2015, is used in the example.
The high passive income of an investor in a CFD is formed due to the multiplier (leverage of 1:5) provided by a broker. So, one CFD of the broker contains five bonds at the price for one. It allows the investor to receive profit not on one but on five bonds, investing an amount equal to the cost of only one bond. Naturally, the broker charges a fee for client funding (funding rate) equal to 3% per annum for dollar bonds. Four of five bonds are lent by the broker to the client. This is how the profit with leverage is generated. In the provided CFD example, it is 26.75% per annum. Passive income is accrued by broker daily at transfer of a trading position open by client for the next day. Rollover is called SWAP. It is easy to calculate the swap: the annual profit for the contract is divided by the number of days in a year (1,000 USD * 26.75% / 360 = 0.74 USD). For ease of calculation, the broker rounds up this value to a whole number in cents. A swap of 0.74 USD is set for this CFD.
We need to take into account that the CFD buy and sell prices are different. This difference is called "spread" and charged by the broker upon the purchase of the CFD by the client.What risks does the Client carry when investing in bond CFDs?
The client bears only the market risks when investing funds:
- Bankruptcy of the issuer
- Possible default on this issue of Eurobonds
- Reduction of the market value of this financial instrument
It is necessary to pay attention to the requirement to maintain the margin at the acceptable level (above 60%) to avoid involuntary closure of the position. The accrued daily interest on a bond and low volatility promote constant increase in the margin on a trading account.What is a bond default?
A bond default is an inability of the issuer to pay the nominal value and/or coupon rate for any reason.Is it possible to sell bonds without buying them?
No. This instrument entails only purchasing of bond CFDs. It is possible to sell only the number of contracts that is available.Why is it allowed to make only purchase transactions?
Currently we do not provide services for unsecured selling of bond CFDs.Why has the bond price not changed several days?
This instrument is of very low volatility; therefore, the price can be the same for several days.Is it possible to place pending buy orders?
Yes, you can place pending orders both for buying contracts and closing of open trading positions. That is you can use BUY STOP, BUY LIMIT, STOP LOSS, and TAKE PROFIT orders.Can I withdraw the profit accrued daily?
The coupon rate is reflected in the MT5 in the swap field for an open position. You can withdraw any amount indicated in the free margin field of your trading account.Do you plan to expand the list of available instruments?
Yes, of course. Since this set of instruments enjoys popularity among clients, our experts work on expanding the list.What leverage do you provide for Eurobonds?
You can buy Eurobonds CFDs with the leverage of 1:5, 1:2 or 1:1. For your convenience, they are traded on different types of accounts, for example Bonds MT5 1:2.
ForwardsWhat is a forward/forward contract?
A forward or forward contract is a financial derivative instrument, an agreement between two market participants. One party is the seller who undertakes to supply, the other party is the buyer who undertakes to pay and receive a certain quantity of an asset in the future at a price determined at the time of the transaction. It is important to remember that a forward contract is margined—that is, the floating profit/loss will be calculated after opening a transaction on open available positions.For what period is a forward contract transaction concluded?
In Alfa-Forex, a USD/RUB forward contract transaction is concluded for a quarter. The forward contract expires on the 15th of the indicated month—that is, a March contract is traded until 9:00 p.m. (Moscow Time) on March 15th, a June contract, until 9:00 p.m. (Moscow Time) on June 15th. The same applies to September and December contracts. If the 15th day falls on a weekend, expiration will occur on the first working day after the 15th day of this month.What happens after the forward contract expiration?
A forward contract is traded until 9:00 p.m. (Moscow Time) on the expiration date. On this day, the forward cost is equal to the cost of the USD/RUB currency pair on the spot market. If a Client does not close the transaction before the end of trading, their trading position is forcibly closed, and a position with the same value and direction (Buy/Sell) for USD/RUB is opened on the spot market.What forward contracts are available at Alfa-Forex?
Currently, forward contracts are available only for the USD/RUB currency pair.In which currency is it necessary to open an account for forward contract transactions?
Forward contract transactions can be concluded by opening a trading account in any of the following currencies: EUR, USD, RUB.In which trading platform is it possible to conclude forward contract transactions?
Currently, forward contracts are available only in MetаTrader5.Why can the price of a forward contract be more or less than the price of its underlying asset?
The price of a forward contract as a financial derivative instrument reflects the future price expectations of the market participants. When a forward contract is traded at a price higher than its underlying asset, this market situation is called contango. When a forward contract is traded at a price lower than its underlying asset, this market situation is called backwardation. There is also the concept of basis, the difference between the forward price and the price of its underlying asset. The more distant the current date from the expiration date, the greater this difference. When approaching expiration, the basis tends toward zero.Why isn't swap debited/accrued upon the rollover of an open trading position to the next working day when trading forward contracts?
As mentioned above, a forward is a financial derivative instrument where underlying asset, in our case, is the USD/RUB currency pair traded on the spot market. When concluding a forward contract transaction, the Client actually concludes an USD/RUB supply agreement in the future at a specified time pursuant to the forward contract specification. Therefore, the swap cannot be debited or accrued before the expiration of the forward contract.What is the main difference between futures contracts and forward contracts?
Unlike futures, a forward is not only an exchange contract. It is concluded for any term by mutual agreement of the parties (in our case, the term is determined by the contract specification). The scope of the supposed supply is regulated only by mutual agreement (supply is performed after the expiration of the whole declared volume). Besides, contrary to exchange trading, forward trading is not accompanied by twice-daily clearing within a working day.What is the leverage size for a USD/RUB forward contract?
Currently, the leverage for all USD/RUB forward contracts is regulated according to the parameters of the margin requirements.What commission fee is charged for a forward contract transaction?
In a forward contract transaction, the commission is included only in the spread value—that is, the difference between the Ask and Bid prices. A buy transaction is concluded at the Ask price, a sell transaction, at the Bid price.Is it possible to close a forward trading position before expiration?
Yes, of course. After closing a trading position, like in the spot market, the financial result of this transaction will be fixed.
ConversionWhat is conversion?
Conversion is a process of buying one currency for another currency at a set exchange rate.What currencies for conversion does Alfa-Forex provide?
The Company provides the following currencies for conversion: EUR, USD, RUB, CHF, GBP, JPY.At which rates does Alfa-Forex provide conversion? What are additional costs?
The Company provides conversion at the current market rate, and all expenses are included in spread—that is, the difference between the purchase price and the sale price. The average spread for conversion is 10 to 13 cents depending on the currency pair and current market conditions.What are the limits of funds for conversion?
Currently, there are no limits for conversion at the Company. A Client can buy any amount of a currency.How does conversion occur? What software is required?
No additional software for conversion of funds in Alfa-Forex is required. Conversion occurs in the Personal Account, the Payment – Currency Conversion – Create a Request for Conversion section by a transfer of funds between two client accounts opened in different currencies.How long does the conversion at Alfa-Forex take?
The conversion of funds is made instantly—that is, the supply of the necessary amount of the required currency is made instantly to the specified client account. Conversion is available 24/7.Can a legal entity make a conversion at Alfa-Forex?
Currently, the conversion service is provided exclusively for individuals. In the near future, this service will be available for legal entities as well.
Affiliate programWhat is a Partner?
A Partner is an individual engaging in activities aimed at attracting clients to the Company to receive commission for each closed transaction of the attracted client.How to become a Partner?
To become a Partner of the Company, it is necessary to open a partner account in the Personal Account.In which currency should a partner account be opened?
A partner account can be opened only in US dollars. Partner remuneration is accrued only in this currency.Is the transfer of a client to a Partner group possible if the ID was not provided during registration?
The transfer of an existing client to a Partner group is impossible. Assignment of a client to a Partner group occurs once and only during the initial registration of a Personal Account.What remuneration will I receive if I become a Partner?
What remuneration will I receive if I become a Partner? The remuneration formula is the same for all instruments:
Trading volume × K × 20 USD 1,000,000
K is the remuneration coefficient equal to 1 by default.
The trading volume is the cumulative trading transactions of all clients of the partner calculated in the US dollars.How is a client assigned to a Partner?
A client is assigned during registration of the Personal Account. A client can follow the referral link of the Partner or enter the Partner ID in the respective field during registration.What are the conditions of remuneration of a Partner?
There are no restrictions on paying remuneration at the Company. A Partner receives remuneration for each closed transaction of the attracted client, the duration of which is more than 10 seconds.What materials are provided to the Partner for attracting clients?
Banners of different sizes in the gif and flash formats are provided in the special section of the Personal Account, a referral link is also given. On request, a Partner can be provided with other promotional materials.How can I receive my remuneration?
Pursuant to the Regulations of the Company, partner remuneration is accrued after the 10th day of the month following the accounting month.Is it possible to withdraw the partner remuneration?
The partner remuneration is available for withdrawal straight after it is credited to the partner account. These funds can be transferred for trading and investment.If my Client works with Eurobond CFDs, what remuneration will I receive?
The Partner receives remuneration in the amount of 0.5% from the amount of collateral, provided that the trading position is on the market for more than 3 months—in this case, the Partner receives remuneration not monthly but on a quarterly basis.
Corporate BankingWhat documents regulate Alfa-Forex's work with legal entities?
The work of the Company with legal entities is based on the Conversion Arbitrage Transaction Agreement under the Margin Trading Terms.What documents should a company wishing to conclude a Conversion Arbitrage Transaction Agreement under the Margin Trading Terms submit?
The list of documents is available at this link.What is the minimal amount required to conclude an Agreement with Alfa-Forex?
Any legal entity wishing to conclude a Conversion Arbitrage Transaction Agreement under the Margin Trading Terms must deposit not less than 50,000 USD into the trading account, or an equivalent amount in other currency.How are funds credited to a trading account?
Funds are credited to the account by a bank transfer as per bank details indicated in the Agreement with the Company. The Agreement number and login (if available) should be specified in the purpose of payment: Payment under the Agreement AAAAAA/BBBBB (if account login is available).How do I withdraw funds from a trading account?
To withdraw funds, you should print out, fill in, and send a scanned copy of the Funds Withdrawal Application to email@example.com. The application must be certified by the company's seal and a signature of the authorized person.What bank details are used for withdrawal of funds from the trading account of the company?
Funds are transferred to the bank details indicated in the Legal Entity Client Application Form, transfer of funds to third parties is not possible.How can funds be withdrawn if the details of the Client Company's bank account change?Where can I find the list of prohibited/allowed jurisdictions?
The list of prohibited/allowed jurisdictions is available at this link.
ZuluTradeWhat is ZuluTrade?
The ZuluTrade online platform is a system that allows you to copy the trading strategies of more than a thousand signal providers who are the most experienced and successful traders all over the world.How do I open a ZuluTrade account?
To open a ZuluTrade account, you need to log in to your personal account, go to Accounts – Real accounts – Create a Trading Account section and in the Account Type field choose ZuluTrade МТ4. You will receive the information (login and password) to log into MetaTrader4 at the e-mail indicated during registration.In what currency can I open a ZuluTrade account?
You can open an account in RUB, USD, or EUR.Which software platform is necessary to work in ZuluTrade?
To conclude and track trading transactions, it is necessary to install the MetaTrader4 trading platform.How do I log in and activate signals on the ZuluTrade website?I have opened a ZuluTrade account in the Personal Account and logged into the website, but I cannot activate signals?
To activate signals, you need to deposit 300 USD in your ZuluTrade МТ4 account, or an equivalent in RUB, EUR. If you still do not receive signals, please contact the ZuluTrade Customer Service.Why is the spread greater than in real time?
An increased spread applies to accounts like ZuluTrade. Its value is an additional 1.5 points per each transaction. It means that for the whole transaction (for example, EUR/USD) the spread in ZuluTrade will be not less that 2.5 points (GBP/USD, not less than 3.5 points). Please note that Alfa-Forex does not bear responsibility for the signals received through ZuluTrade.
StatementWhat is a statement?
The account statement (the "Statement") is a detailed report on the trader's activity in the FOREX market for the n-th time. The report includes data on opening and closing positions, data on setting the pending orders, and information on the deposit and withdrawal of funds.How is the statement generated?
The report is generated automatically by the program MetaTrader and is sent to the client after 00:00 GMT to the email specified in the Client's Personal Account: • daily (Daily Confirmation), if a transaction was made or if there is an open position at the moment; • monthly (Monthly Statement), it is sent in any case, regardless of whether the transactions were made or not.How to download the report by yourself?
There are cases when the trader must generate a detailed report for a certain period. To make a detailed report on an account of interest, activate the Terminal window by using Ctrl+T or select View -> Terminal. Next, go to the Account History tab and choose which range you want to generate the report for: • All history. A report will be provided on all trades since the opening of the trading account. • Last 3 months. The trades for the last 3 months are sorted out. • Last month. Trades made in last month will be shown. • Select a period. By selecting this item, a calendar will appear in which you can mark the more accurate time range of interest. You can save the report in two ways: Save as report. In this case, a report will be generated on the transactions that are currently open or pending orders, as well as on statistics of the balance at the moment. Save as detailed report. In this case, the trader will receive the same report as in the first case, and the summary of detailed information about the trader's work will be added.Key terms
• Ticket — ticket number of trade position • Open Time — time of opening a trading position; • Type — the type of open position (buy, sale or one of the types of pending orders); • Size — the number of lots involved in the transaction; • Item — a financial instrument by which the trade was made; • Price — opening price of a trading position; • S/L — Stop Loss order level; • T/P — Take Profit order level; • Close Time — time of closing a trading position; • Price — closing price of a trading position; • Commission — commission charged by a brokerage company in executing trading transaction • Swap — accrued swaps; • Profit — the financial result of a transaction; • Deposit/Withdrawal — information about deposits to and withdrawals from the account; • Credit Facility — information about the credit funds on the account; • Closed Trade P/L — total profit/loss for all closed trades; • Floating P/L — current profit/loss on open trades; • Balance — account balance; • Equity — account equity; • Margin — margin on open trades; • Free Margin — free account funds. • Total Net Profit — net profit, financial result of all trades. This indicator represents the difference between Total Profit and Total Loss; • Gross Profit — total profit, the sum of all profitable trades in monetary units; • Gross Loss — total profit, the sum of all unprofitable trades in monetary units; • Profit Factor — profitability, the ratio of the total profit to the total loss in percent. One means that the amount of profits is equal to the amount of losses. For the earning trader, this indicator is usually between 2 and 5; • Expected Payoff — mathematical expectation of win. This is a statistically calculated indicator displaying average profitability/unprofitability of one trade. Also, we can assume that it reflects the expected profitability/unprofitability of the next trade; • Absolute Drawdown — the largest loss is below the value of the initial deposit; • Maximal Drawdown — the largest loss from the local maximum in the deposit currency and as a percentage of the deposit; • Relative Drawdown — the largest loss as a percentage of the maximum balance value and the corresponding monetary value; • Total trades — total number of trading positions; • Short Positions (won %) — the number of short positions and the percentage of profitable short positions; • Long Positions (won %) — the number of long positions and the percentage of profitable long positions; • Profit Trades (% of total) — the number of profitable trade positions and their share in the total number of trades, in percent; • Loss trades (% of total) — the number of unprofitable trade positions and their share in the total number of trades, in percent; • Largest profit trade — the largest profit among all profitable positions; • Largest loss trade — the largest loss among all unprofitable positions; • Average profit trade — the average value of profit per trade (the amount of profits divided by the number of profitable trades); • Average loss trade — the average value of loss per trade (the amount of losses divided by the number of unprofitable trades); • Maximum consecutive wins ($) — the longest series of profitable trade positions and the sum of their winnings; • Maximum consecutive losses ($) — the longest series of unprofitable trade positions and the amount of their losses; • Maximal consecutive profit (count) — the maximum profit for one series of profitable trades and the corresponding number of profitable trades; • Maximal consecutive loss (count) — the maximum loss for one series of unprofitable trades and the corresponding number of unprofitable trades; • Average consecutive wins — the average number of profitable positions in the continuous profitable series; • Average consecutive losses — the average number of unprofitable positions in the continuous unprofitable series.What should I do if I haven't received a statement?
If you did not receive the report, download it by yourself from the trading platform or contact customer support by phone 8 (800) 100-62-02, ext. 1.CallbackCallbackSend us your number and we will call you back
Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read full risk disclosure.
Risk Warning: 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read full full risk disclosure.
Risk Warning: 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read full full risk disclosure.