What is Forex?The foreign exchange market (Forex or FX) is a worldwide over-the-counter financial market where currencies are traded. The Forex market is the largest, most liquid market in the world with an estimated average traded value of over US$5 trillion per day. You can access our trading platform from any internet-capable device to view live, streaming quotes for all tradeable currencies. From there, Forex transactions are as simple as click-to-trade. In seconds your order is placed. Forex trading allows traders the use of leverage to enhance their potential returns. Each $1 invested in a Forex transaction can have up to $100 in buying power. Leverage also increases losses if the value of the asset goes against you.
How does Forex trading work?When trading Forex, you can place a trade anytime you believe one currency with strengthen or weaken against another. If you believe the Australian economy and the Australian dollar are strong (and will continue to strengthen) and the Australian dollar will strengthen against the U.S. dollar, you would execute a BUY AUD/USD order. By doing so you have purchased Australian dollars with the expectation that they will appreciate in value against the U.S. dollar. If you are correct, and the Australian dollar increased in value against the U.S. dollar, you will make a profit. However, if you are incorrect, and the Australian dollar decreased in value against the U.S. dollar, you will incur a loss. Conversely, if you believe the Australian economy and the Australian dollar are weak (and will continue to weaken) and the Australian dollar will weaken against the U.S. dollar, you would execute a SELL AUD/USD order. By doing so you have sold Australian dollars with the expectation that they will depreciate against the U.S. dollar. If you are correct, and the Australian dollar decreased in value against the U.S. dollar, you will make a profit. However, if you are incorrect and the Australian dollar increased value against the U.S. dollar, you will incur a loss.
Trading with UptrendMarketsWhether you are new to Forex trading or an experienced trader, our goal at UptrendMarkets is to make your trading experience as hassle-free as possible. Our knowledgeable customer service team is here to assist to you with any queries you may have. To contact a representative, please click here.
What type of accounts are available? We have two types of accounts available, which are the demo trading account and the live trading account. A demo trading account allows you to trade with our platform using virtual funds. This allows you to get familiar with the MT4 trading platform and the spreads available across all our trading instruments. A live account is an account where you are trading with real money. Our live accounts are broken up into a standard account and a VIP account. What is the difference between the standard account and the VIP account? The standard account has a minimum deposit of $US500, and you can trade as little as one micro or $1,000. Spreads are from 1.5 pips. The VIP account has a minimum deposit of $US2,500, and the smallest lot size is one mini contract. The main advantage of the VIP account is the spreads are from just 0.5 pips.
Funding and withdraw
How do I fund my account? To fund your account, click here to view our bank details. The full instructions are listed on this document. Please note, you must have a registered account before funds can be transferred. What base currency can I fund my account in?
- U.S. Dollars
- Euro dollars
- British Pounds (Sterling)
- Japanese Yen
- Singapore Dollars
- Australian Dollars
- Hong Kong Dollars
What are the margin requirements on each trading instrument? Margins across most of our markets start at 0.5%, which gives you access to 200 to 1 leverage. Certain trading instruments require more margin up front. Bitcoin CFDs, for example, require 5% margin up front to control the full position. How do I find out what the margin is for each trading instrument? Within MT4, right click on the trading instrument from within the Market Watch window and select ‘Specification’ and you will see the margin required for each one. How do you calculate CFD margins? The margin requirement for a position is calculated by multiplying the relevant CFD position size by the applicable margin rate: Margin requirement = (position size) x (margin rate) For example: If the margin rate for the S&P500 index is 0.5% and you buy 10 contracts at 2,300, then the margin requirement would be $US115.
- 10 X USD2300 = $US23,000
- $USD23,000 x 0.5% = $US115
How do I open a live trading account? Please click here to be directed to our ‘Open A Live Account’ page and follow the simple steps. Before I submit the account application documents, what must I do? You should check that:
- All your details are accurate
- You have read and understand the Terms of Business, Execution Policy and Risk Disclosure
- Properly certified copies of your photo identification and proof of address documents are included (proof of address must be issues within last 3 months)
What is a stop loss order? A stop loss order can be used to protect profits and limit losses. When buying a stock (or another instrument), a stop loss order is placed below the current market price to automatically sell if the price falls to the order price. Conversely, when selling a stock (or another instrument), a stop loss order is placed above the current market price to automatically buy back if the price increases to the order price. What is a limit order? A limit order is an order to buy or sell at a specific price or better. When you are buying to open a position, you would place a buy limit order below the current market price. Conversely, when you were looking to sell to open a position, you would place the sell limit order above the current market price. Limit orders can also be used to close out a position. You would use a limit order when you have a profit target to exit a position. If you bought to open a position and you want to sell out of the position at a price that is above the current market price, you would place a sell limit order at a price above the current market. If you sold to open a position and you want to buy back the position at a price that is below the current market price, you would place a buy limit order at a price below the current market. Always have a stop loss in place to protect yourself. What is a one cancels other (OCO) order? An OCO order is a combination of a stop loss order and a limit order. It enables you to set a profit target as well as lock in profit (or cut your losses) if the market moves against you. The order will be automatically executed once the market price hits either of your orders. Once one of the orders has been executed, the other order is cancelled. At what prices are orders executed? A sell stop loss order is executed at either the stop loss price or lower and a buy stop loss order is executed at either the stop loss price or higher. Limit profit orders are executed at the limit order price. Can my orders be partially filled (executed)? No. Your order is either filled entirely or rejected. Can I amend or cancel an order if it has not been executed? Yes. You can amend or cancel an order at any time if it has not been executed. If the market price is close to your order price, you have to act quickly before the market reaches your order price. Can I amend or cancel an order if it has been executed? No. You cannot amend or cancel an order if it is already executed. What is the meaning of good till cancelled (GTC) and good till end of the day (Day Order)? Good till cancelled (GTC) is an order that is active as long as the market price does not reach the order price; the order will remain active until you decide to cancel it. Good till end of day (Day Order) is an order that is active as long as the market price does not reach the order price or until the market closes that day. What does it mean to have a “long” or “short” position? A long position is when you buy with the aim to sell later at a higher price. A short position is when you sell with the aim to buy back later at a lower price. The risk of holding either long or short positions is equal. Although in theory, if you are short a position, the stock could continue to rise indefinitely, whereas if you are long, the position can only fall to zero. What is the difference between an “intraday” and “overnight” position? Intraday positions are all positions that are opened and closed within the 24-hour period. This 24-hour period starts every day after the end of day process at 10 p.m. London time. Overnight positions are positions that are still opened after the end of day process at 10 p.m. London time. Can I intraday trade in my account? Yes. You can buy and sell as many times as you like within the same day.
How do I download the trading platform?
Click here to download the Uptrend Markets Trader. Alternatively, you can log-on to the web-based version of the Uptrend Markets Trader from the upper right-hand corner of our homepage.
How do I log-on to the trading platform?
To log-on to the trading platform you will need to enter the username and password that were email to you. To log-on to the web-based version of the platform, click on to the Uptrend Markets Trader link in the upper right-hand corner of our home page. For the downloadable version of the platform, launch Uptrend Markets Trader by clicking on the Uptrend Markets Trader icon on your desktop, enter your username and password, select either live or demo and click on Login.
What do I do if I need to change or have forgotten my username and/or password for my account?
firstname.lastname@example.org We will then issue you a new username and/or password. For security purposes, we will send the new information to the email address we have on file. Additionally, you can click on the “Forgot Password?” button on the upper right-hand corner of our home page to request for a new password. Again, for security purposes, we will send the new information to the email address we have on file.
Do I have to pay for the live trading platform?
You do not have to pay to use either of our live trading platforms. They are provided to you free of charge as long as you maintain an open account with UptrendMarkets. Demo accounts are provided for a limit of 30 days free of charge.
What languages are available for your trading platform?
Our trading platforms are available in multiple languages. To find out what languages are available please
Are charting tools included on your trading platform?
Yes, charting tools are available free of charge on the trading platforms that we provide.