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Frequently Asked Questions
1. What is the minimum initial deposit required to open a new account?
2. Do trading conditions for demo account differ from the ones for live trading account?
3. How many accounts can I open?
4. What is verification email?
5. What is SimpleFX?
6. SimpleFX Company Information
7. What type of broker are you?
8. How many accounts can I open?
9. If I was trading on a Demo account and then switched to a Live account, would I have to pay additional fees or commissions?
10. On the webtrader, I am trying to close an order, but it does not close. Why?
11. Do you have video tutorials?
12. What is Margin Trading?
13. When is an account considered “inactive”?
14. From which countries clients can not open an account?
15. Can my profit/loss/balance be displayed in a currency different from my account’s base currency?
16. My balance/profit/loss shows “0” even though I have funds on my account/open positions. Why?
17. Does SimpleFX initiate phone calls to offer services or process withdrawals?
1. How long does it take to withdraw my money?
2. Can I trade after making a withdrawal request?
3. I used several electronic payment systems to fund my account and earned a profit/made a loss. How can I withdraw the money?
4. Can I transfer money between my trading accounts?
5. Is it possible to charge back deposit to credit card?
6. What happens if I do not deliver copy of credit card to SimpleFX?
7. What happens if I use someone else`s credit card?
8. How much time do I have to deliver required documents?
9. Do you accept fiat (hard) currency?
10. Why are Bitcoin deposits not instant?
\r\nFor on-chain transfers, we require 1 confirmation from the Bitcoin network to process a BTC deposit. The confirmation time is independent of us and usually, the funds arrive within 1–30 minutes. However, a deposit may be delayed if the transaction fee is low or the network is overload.\r\n\r\n
\r\nYou can send your BTC to and from the SimpleFX account instantly for free using the Lightning Network. Here’s a short guide. \r\n
11. Why are cryptocurrency withdrawals not instant?
12. Can I exchange Bitcoins or other cryptocurrencies for hard currency?
13. Can I exchange Bitcoins or other cryptocurrencies for Tether (USDT)?
14. What is the minimum initial deposit required to open a new account?
15. What are the main rules regarding withdrawals?
16. What are the main rules regarding deposits?
17. Can I withdraw my money if I have an open position?
18. What documents are needed to perform my first fiat (hard currency) deposit?
19. What is a withdrawal fee?
20. Why is the amount received in my trading account smaller than the amount I sent?
21. What is the conversion rate for Skrill and Neteller withdrawal fees?
22. What is the conversion rate for account currency exchange?
23. Can I deposit to/withdraw from my friend’s/relative’s account/card?
24. Can I transfer funds from my trading account to another client’s trading account?
25. I still didn't receive my ETH deposit. How long will it take?
26. What is a gas limit?
27. I have added a withdrawal wallet address for verification but did not receive a verification email. What should I do?
Meta Trader 4
1. How can I open a trading position?
2. How can I open a new chart?
3. What is Balance, Equity, Margin and Free Margin?
4. I have downloaded Metatrader 4 from another broker. Can I trade with SimpleFX?
\nSimpleFX Demo: demo-mt4.simplefx.io
\nSimpleFX Live: live-mt4.simplefx.io
5. I have installed MetaTrader, but it can not connect to your server. Why?
6. Where can I find SWAP values?
7. Can I change the time zone in MetaTrader?
8. How can I view my trading history?
9. Can I use robot/auto traders or expert advisers?
10. How do I know that a trade is closed?
11. Why is my value of balance in BTC so high?
12. Is it possible to change the display currency BIT/LIT/EIT/EIC to another currency in MT4?
13. How do I download the historical data for any symbol from the SimpleFX offers?
14. Can I change the time presented on MT4 charts?
15. I opened MT4 but I can't see BTCUSD or other cryptocurrencies. Why?
16. Can I have multiple versions of MT4 running to monitor several accounts?
17. How can I login to MT4?
18. Is it possible to set a Trailing Stop using your web platform?
19. I can’t add a new trading account in MT4. Why?
1. What is take profit?
2. What is margin call?
3. What is a spread?
4. What is FIFO?
5. What is “trade size” in a Forex trade?
6. What does it mean to have a 'long' or 'short' position?
7. What is a stop loss?
8. What is a trailing stop?
9. What is a Forex broker?
10. What is margin?
11. What is a spot market?
12. What is a slippage and why does it happen?
13. What is a rollover/swap?
14. What is a 3 days swap?
15. What is “Size”?
1. How do I profit from trading on Forex?
2. How does Forex trading work?
3. How can I open a trading account?
4. What tools do I need to trade on Forex?
5. Who are the participants on the Forex market?
6. Where is the central location of the Forex market?
7. What is Forex?
8. Does SimpleFX send tax returns?
9. Can I lose more than I deposited to my SimpleFX account?
1. I invited my friends to SimpleFX, and they already made a deposit. However, I don’t see my affiliate revenue from referring them on my account. Why?
2. Why can't I see my affiliates’ names or contact information?
3. I invited my friends to SimpleFX, they already registered. However, I can't see them as my referrals. Why?
4. What methods can I use to withdraw money from affiliation?
5. Can I change my referral?
6. I have made a withdrawal of my earned affiliate commission, but I still did not receive it on my account. Why?
7. What are the affiliate tiers that you offer?
1. Do trades have expiration or settlement dates?
2. Can I trade using my mobile devices?
3. How do I check historical data regarding any symbol from the SimpleFX offers?
4. My account is in Bitcoin, but I do not have any order opened on Bitcoin. I am holding positions on metals, indices and forex. Will my account be affected with the price of Bitcoin going down rapidly?
5. Why does my equity/profit/loss change even though the market is closed?
6. Why are spreads so high during the opening of the market?
7. Is spread applied twice, first time during opening of the order and second time during closing of the order?
8. Why is the market frozen and prices do not change?
9. What does it mean when the market is closed?
10. Are dividends paid to my account?
11. Should I long or short?
12. Can I partially close my position?
13. My stop loss or take profit order was not activated or was activated too early. Why?
14. I just got margin called. What do I do?
15. My position was closed without my permission/I just got stopped out. Why?
16. How do I convert SWAP rates?
Formula: size of order*contract size*tick size*swap rate=swap value in quote currency
Example: BTCUSD contract size is 100 and tick size is 0.01. For 0.01 lot BUY order (0.01 lot=1 BTC), swap rate is currently -533.8584 points, so calculations will be as follows: 1*1*0.01*(-533.8584)=-$5.338584. BTC price is currently about $11,050 so 5.338584/11050= -0.00048 BTC.
17. Why was my previous order closed when I opened a new one?
18. What time are the symbols closing today?
19. Why are spreads changing?
20. What are the requirements for an order to be executed?
21. Why do prices at SimpleFX differ from other exchanges?
22. How do I calculate the required margin?
Size of order*contract size*current exchange rate*margin%*leverage rate=required margin in quote currency
leverage rate=100/account leverage
Other data can be found in the SimpleFX Terms and Conditions.
23. What value has 1 pip of BTCUSD?
For BTCUSD order of 0.01 size, 1 pip is worth: 0.01*100*0.01=$0.01.
For BTCUSD order of 0.1 size, 1 pip is worth: 0.1*100*0.01=$0.1