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FAQ - FAQ Trading

FAQ Trading

How can I transfer funds to LOYEX?
Does Loyal Bank charge any fee for transferring money to the trading account?
How much time is required before my transferred funds are deposited?
Does LOYEX accept PayPal, cheques or cash for funding a trading account?
Can I trade mini-lots with LOYEX?
Can my account be denominated in other currencies than US dollars?
Does LOYEX allow scalping?
How can I use the expert advisor?
Do you have guaranteed fills?
What is the maximum you increase your spreads in volatile markets?
How do you calculate profit and loss?
Can I hedge positions if I use LOYEX Trading Station for trading?
What is the maximum I can trade online?
Why are Rollover rates tripled on Wednesdays?
Why can I not trade on Saturday and Sunday?
How can I activate trailing stops?
What is a "no maintenance margin" policy?




How can I transfer funds to LOYEX?

You can wire funds via SWIFT into your Loyal Bank personal/corporate account. Funds can then be transferred into your LOYEX trading account by you online. You cannot wire funds directly to your LOYEX trading account but only through your current account at Loyal Bank.

Does Loyal Bank charge any fee for transferring money to the trading account?

No. Depositing the trading account from a current account held with Loyal Bank is free of charge.

How much time is required before my transferred funds are deposited?

Generally an international wire transfer takes 2-5 working days to reach your current account with Loyal Bank, depending on how effectively the sending bank processes the transfer.
To transfer funds from your Loyal Bank current account onto your LOYEX trading account can take 1-2 days.

Does LOYEX accept PayPal, cheques or cash for funding a trading account?

No. You will have to wire transfer your funds into your Loyal Bank account first and then authorize Loyal Bank to fund your LOYEX trading account with the requested deposit specified by you.

Can I trade mini-lots with LOYEX?

Yes.

Can my account be denominated in other currencies than US dollars?

Yes. You can open your trading account in USD, EUR, GBP, CHF or JPY.

Does LOYEX allow scalping?

We allow any legitimate trading strategy.

How can I use the expert advisor?

You can buy expert advisors from many sources via the internet, however LOYEX does not take any responsibility or guarantee or warrant any of those programs, nor do we offer trading advice.

Do you have guaranteed fills?

All orders are executed at requested prices under normal market conditions. In situations where there are market gaps and it is impossible to cover the positions with our liquidity providers, your stop orders may be filled at a different price than initially requested.

What is the maximum you increase your spreads in volatile markets?

It entirely depends on the market. Spreads are usually higher during important news announcements or in volatile markets.

How do you calculate profit and loss?

On one traded lot 1 pip move equals 10 USD profit. Our MetaTrader 4 platform will calculate your profit/loss automatically in real time once you enter a trade.

Can I hedge positions if I use LOYEX Trading Station for trading?

You are allowed to open hedge positions i.e. you can hold both long and short positions of the same currency pair.

What is the maximum I can trade online?

There is no maximum in the Forex market, you can trade any amount. Keep in mind however that there are maximum number of lots you can trade at streaming prices.

Why are Rollover rates tripled on Wednesdays?

When placing a trade in the spot Forex market, the actual value date is two working days forward from the trade date, so a deal done on Thursday is for value Monday, a deal done on Friday is for value Tuesday, and so on. On Wednesday the amount of Rollover is tripled in order to compensate for the following weekend (during which time Rollover is not charged because Forex trading does not take place over the weekend).

Why can I not trade on Saturday and Sunday?

We are closed during the weekend just like the Forex markets and our liquidity or service providers.

How can I activate trailing stops?

This feature is active on the demo trading station. To enable it on live accounts please send us a written and signed request including your client ID to myloyex@loyalbank.com.  To activate the Trailing Stop on a position, go to 'Trade' in the 'Terminal' at the bottom of the platform, right-click and choose Trailing Stops. Please note that you have to be making a profit of minimum 15 pips before you can activate it.

PLEASE NOTE: Do not switch off your LOYEX Trading Station if you are using trailing stops or your account will be exposed to unlimited risk. Before shutting down the station change from trailing stops to normal stop loss protection.

What is a "no maintenance margin" policy?

This means that you can go below the margin requirements during the week without LOYEX closing your positions. Throughout the week your positions can fluctuate and we only require you to respect the margin requirements before 23:00 CET every evening.

The "no maintenance margin" policy means that we do not give margin calls and we do not automatically close your positions if you go below the margin requirements of your positions. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed.

The stop out will be executed when there is only around 2% equity of the required margin left in the account. LOYEX believes that our no maintenance margin policy gives more flexibility to the clients, as they can decide for themselves when they want a position to be closed. Occasionally, if the market price is going against you, many of our competitors would close the position if it goes below the required margin - even if the price bounces back the next moment. We give the client complete control over his positions.