F.A.Q

There are some questions and answers below:

1- How to open an account? 2- How much time does it take for prime4x to set up the account from the date you receive the application? 3- What is the minimum amount to open an account? 4-Can I trade Mini and Micro lots with prime4x? 5- Why do I need to provide you copy of my ID or Passport? 6- I don't have a passport - can I open an account with another piece of identity? 7- Can I withdraw my money whenever I want? 8- Are there any fees involved with the withdrawal of funds? 9- How do I transfer my funds? 10- Can I transfer money using my credit card? 11- Can my account be denominated in other currencies than US dollars? 12- Does prime4x pay interest on the outstanding balance of my account? 13- When was prime4x established? 14- Who are the owners of prime4x? 15- Do you have any restrictions regarding accepting clients from certain countries? 16- Do you manage funds? 17- Does prime4x require a minimum number of transactions per month in order to keep the account active? 18- What is the maximum your spreads could reach in highly volatile market? 19- What do you mean by a "No maintenance margin" policy? 20- What leverage does prime4x provide to all accounts? 21- Do you charge fees or commissions when opening an account withprime4x? 22- What is the maximum I can trade online? 23- What is your platform or Trading Station? 24- Why doesn't the Market watch show all currency pairs in my platform? 25- Is it possible to trade or modify orders during the weekend? 26- How is the volume on the price charts calculated? 27- Does prime4x allow hedging? 28- What is Foreign Exchange? 29- Where is the Central Location of the FX Market? 30- Who are the Participants in the FX Market? 31-  When is the FX Market open for trading? 32-  What does it mean have a 'long' or 'short' Position? 33- How are currency prices determined? 34- How do I Manage Risk? 35- What kind of Trading Strategy should I use? 36- How often are Trades Made? 37- How Long Are Positions Maintained? 38- How do I open a 30 days Free Forex Demo Account? 39- How do I open a Live Account? 40-  What is the prime4x Margin Requirement? 41- What is the available Trading time? When is trading available? 42- How could I download prime4x trading station? 43- What is the required margin for an opposing long position in case of hedging a position by shorting? 44- Forex trading during Economic or Geo Political News events 1- How to open an account? In order to open an account you have to choose which type of account you are seeking as we provide individual accounts and partnership accounts (ex. Introducing brokers, White Labels, Manage accounts) You must provide us with a copy of your ID or passport plus a proof of residence (utility bill) Prime4x must receive all required documents to start the account opening process, but only when we receive the documents, the assigned department will check your application. Once accepted, our staff will set up an account for you and they will contact you to inform you of your username and password and provide you with the wiring instructions. Top^ 2- How much time does it take for prime4x to set up the account from the date you receive the application? Usually the account is set up within one day. Our assigned department verifies that the documentation is in order and afterwards our back office sets up the account. Top^ 3- What is the minimum amount to open an account? The minimum amount to open a mini account is $100. The minimum amount to open a standard account is $2,000. The minimum amount to open an institutional account is $100,000. Top^ 4-Can I trade Mini and Micro lots with prime4x? Yes, prime4x offers the possibility to trade mini and micro lots. Top^ 5- Why do I need to provide you copy of my ID or Passport? This is part of the strict control procedures of International Anti-Money Laundering laws to ensure that the person who wants to open an account is indeed who he pretends to be. Top^ 6- I don't have a passport - can I open an account with another piece of identity? Yes, any official piece of identity with photo and signature will do. Top^ 7- Can I withdraw my money whenever I want? Yes! Just fill in the online withdrawal form and we will send the money to your bank account automatically Top^ 8- Are there any fees involved with the withdrawal of funds? Prime4x does not charge any fees for processing a withdrawal request however banks normally charge a small fee for the procedure Top^ 9- How do I transfer my funds? Funds are accepted by wire transfer method as it proved to be the most professional and efficient way of transactions Top^ 10- Can I transfer money using my credit card? yes you can deposit and withdrawal using credit card as soon as the credit card holder name is the same name for the trading account Top^ 11- Can my account be denominated in other currencies than US dollars? Yes, you can choose to have your account denominated in USD, EUR. Top^ 12- Does prime4x pay interest on the outstanding balance of my account? No, your account does not earn interest. It is a trading account, not a bank account. Top^ 13- When was prime4x established? Prime4x was established in 2005. Top^ 14- Who are the owners of prime4x? Prime4x is owned by a group of private investors. Top^ 15- Do you have any restrictions regarding accepting clients from certain countries? No, Prime4x accepts clients from all over the world with no restrictions Top^ 16- Do you manage funds? Yes, we do manage accounts. for more info please click here Top^ 17- Does prime4x require a minimum number of transactions per month in order to keep the account active? No, the account stays active no matter the level of activity. Top^ 18- What is the maximum your spreads could reach in highly volatile market? We can't give a fixed maximum; it is impossible as it completely depends on the market. Top^ 19- What do you mean by a "No maintenance margin" policy? Prime4x "no maintenance margin policy" means that our clients' positions can reach and go below the margin requirements without prime4x close their opening positions. Throughout the week your positions may fluctuate and prime4x will take no action. Top^ 20- What leverage does prime4x provide to all accounts? That depends on the account type, for example we provide a leverage of 500:1 in the mini accounts and a leverage of 400:1 in standards. We also provide a leverage of 100:1 to institutional accounts. For more info please click here Top^ 21- Do you charge fees or commissions when opening an account withprime4x? No, prime4x does not charge any fees or commissions. Top^ 22- What is the maximum I can trade online? Prime4x doesn’t have a limit for its clients with maximum amounts to trade online Top^ 23- What is your platform or Trading Station? Prime4xTrading Station is based on the Meta Trader 4 (also called MT4) software, which has been developed by Metaquotes. Top^ 24- Why doesn't the Market watch show all currency pairs in my platform? If the market watch does not feature all instruments, just put the cursor somewhere in the Market Watch, right-click and choose and choose 'Show All'. All pairs, including gold and silver prices, should now appear in the market watch. Top^ 25- Is it possible to trade or modify orders during the weekend? It is not possible to trade or modify orders in the weekends. Top^ 26- How is the volume on the price charts calculated? The volume is generated as the amount of incoming price ticks. If the price is continuously changing, it is an indication of big volume. The more changes the more activity and the bigger the volume. Top^ 27- Does prime4x allow hedging? Yes, prime4x allows the hedging capability with no restrictions or extra fees Top^ 28- What is Foreign Exchange? The Foreign Exchange market, Forex trading or FX market is the largest financial market in the world, about 1.5 trillion $ are turned over in Forex daily. Foreign Exchange or currency trading is the synchronous buying of one currency and selling of another. All currencies are traded in pairs as EUR/USD (euro/us dollar). Top^ 29- Where is the Central Location of the FX Market? Forex market is not centralized; it is considered an Over the Counter (OTC) market, that the foreign exchange transactions are conducted between two counterparts over the telephone or via an electronic network. Top^ 30- Who are the Participants in the FX Market? Forex market historically has been controlled by banks, including central banks, commercial banks, and investment banks; so Forex market is called an Inter-bank market. Other participants' percentage of Forex market increases rapidly. Those participants include large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and private speculators. Top^ 31-  When is the FX Market open for trading? Forex market is open 24 hours. Currency trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Forex traders can respond to currency fluctuations caused by economic, social and political events at the time they occur. Top^ 32-  What does it mean have a 'long' or 'short' Position? Long position is buy process; Forex trader buys currency at certain price waiting to sell it at higher price. Short position is sell process; Forex trader sell currency at certain price and when the price falls down he gains. Remember that the Forex position is that the trader buys a currency and sell the other. Top^ 33- How are currency prices determined? Some factors affect currencies' prices such as economic conditions, political stability, and inflation. Governments sometimes flood the market with their currency trying to lower the price or buy their currency to raise the price; this is called Central Bank Intervention. Any of these factors with large market orders may cause prices' volatility. However, size and volume of the Forex market enables any one entity to 'drive' the market for any period of time. Top^ 34- How do I Manage Risk? There are common tools to manage the Forex trading risk such as the limit order which uses restriction on the maximum price paid or the minimum price received, and the stop loss order that uses predetermined price to close order to limit losses. Liquidity of the Forex market facilitates the execution of limit order and stop loss orders. Top^ 35- What kind of Trading Strategy should I use? Forex traders should use technical factors such as charts, trend lines, support and resistance levels, numerous patterns and mathematical analyses. And also traders should know economic fundamentals to interpret economic information such as news, government-issued indicators and reports, and even rumors. These factors help to know trading opportunities. Also unexpected events may cause price movement. The event can range from a Central Bank raising domestic interest rates to the outcome of a political election or even an act of war. Top^ 36- How often are Trades Made? Trading activity is determined by market conditions. The average small to medium trader may trade about 10 times a day. Top^ 37- How Long Are Positions Maintained? The position is still open till reach enough profit or the price reaches the determined stop-loss or the trader close it to make another better one. Top^ 38- How do I open a 30 days Free Forex Demo Account? In order to open a demo account please click here Top^ 39- How do I open a Live Account? In order to open a live account please click here Top^ 40-  What is the prime4x Margin Requirement? Foreign currency online exchange and commodity trading is usually based on 'margin'. The required cash deposit for an online trading execution is usually less than the underlying value of the currency or commodity contract. For example, a TSP might require only $1,000 in the trader's account in order to trade a $100,000 currency position. The $1,000 is referred to as 'margin'. This margin is used to assure reducing the predicted loss risk. The main purpose of having margin deposit in your forex trading account is creating a sufficient margin as all the purchasing and selling is not real. Margin resembles rational assessment of expected risk in each executed position. So, unstable changeable currencies need a higher margin. For example if a $100,000 currency position is changing by more than 1% (or $1,000) in a 24 hour period, the suitable margin in this case is $1,000. Also if the currency is highly volatile and regularly changes by $3,000 or more or 3% it would require a suitable margin with $1,000 margin deposit. The trader must be aware that the trading account margin is based on account equity not the account balance. The forex trading account at prime4x is accurately valued by the equity because it includes the account unrealized profits or losses. Prime4x guarantees that our customers never lose more than their deposited funds. Top^ 41- What is the available Trading time? When is trading available? Prime4x is an online trading service provider. The online currency trading market is considered to be the largest growing business market. At prime4x trading is available at three sessions the first begins Sunday at 7:00 P.M. NYT, which is the Asia session. The second is the European session, which begins at 3:00 A.M. The third and final is the New York, which begins at 8:00 A.M. The majority of the trading occurs between 3:00 a.m. and 1:00 p.m. EST. Top^ 42- How could I download prime4x trading station? In order for you to download the platform please click here Top^ 43- What is the required margin for an opposing long position in case of hedging a position by shorting? Prime4x requires no margin on the new position that the trader might open up with the same number of lots and is in the opposite direction of the first one. The second trading opened position will be margin free if it has the same number of lots, in the opposite direction on the same currency. Top^ 44- Forex trading during Economic or Geo Political News events It any principal economic events and situations, like non-farm payroll, the currency price will change with a great gap immediately after this situation. Fundamentally the price changes just after the economic news and events occur which results a decrease in the Offers at the forex market on the current price. Banks are able to create their offers principally from where it was before the events release. If someone has a resting order such as a buy stop or sell stop, those stop orders are accessed and turn into market orders and then are executed at the currently existed foreign currency exchange market price. A buy stop or sell stop could easily turn to the market order after the activation and it's filled at the current currency price which doesn't assure a certain order at a specified price. Top^