Trading
Does ForexMeta allow fractional lot trading?
Yes. Subject to the specific account settings, ForexMeta offers fractional lot trading.
Does ForexMeta offer phone or email trade support?
ForexMeta’s system is built on an electronic trading platform. In the event of an emergency, please contact our trading desk to help with trade executions. The number is 1.866.367.3933 or 1.212.791.3933.
What is Rollover?
At the end of each business day at 5PM (EST), our clearing firm will automatically rollover or swap, all existing open positions into the next spot settlement date. We will debit or credit a client’s account, depending on the interest rate differential between the base currency and the counter currency; and the direction of a client’s position. If the client, for example, is long a currency pair—where the overnight rate for the base currency is higher than the rate for the counter currency—a client will earn a small credit for positions held overnight. If the opposite is true, a client account will be debited for the difference in the interest rate differential. The fundamental reason for this is: should a client be long on a higher yielding currency, the client should benefit from being able to invest and earn a higher return overnight than what the client has to pay for being short the lower yielding currency.
How is margin calculated on open positions?
With ForexMeta a client has one account in US dollars for all positions. All margin requirements on realized and unrealized P/L, as well as proceeds from trading, are automatically calculated using the current market prices. An account balance is maintained in real time. The required margin is calculated in USD real time. Margin on MetaTrader represents the initial margin requirement for that position(s), as well as the liquidation level on the account.
Does ForexMeta allow hedging of short and long trades or the same pair simultaneously?
No. At this time due to current NFA restrictions Forexmeta.com no longer offers hedging.
Is there any time limit on opened positions?
There is no time limit on opened positions. When a position is held past the close of the FOREX day (5pm EST or New York Time), however, the position is automatically rolled-over to the next available spot settlement date by ForexMeta. Since all trades transacted with are non-deliverable (there is no actual physical transfer of the notional currency amounts), all open positions must be rolled over for the next spot date.
Why did the trailing stop not register the price?
Trailing stops in the MetaTrader platform are customized and are held in your computer, not in our servers. If the computer is turned off, the trading platform is closed, or if the computer is disconnect from the Internet, the trailing stop will not be executed. Therefore, it is important to remember to leave the computer on if you have trailing stops resting in the market using MetaTrader.
What are the FOREX market hours?
Market hours are Sunday 5:00PM to Friday 4:00PM EST.
What currency pairs do you offer?
GBP/USD, USD/JPY, EUR/USD, USD/CHF, EUR/GBP, USD/CAD, EUR/CHF, GBP/JPY, AUD/USD, CHF/JPY, EUR/AUD, GBP/CHF, EUR/CAD, AUD/CAD, AUD/JPY, NZD/USD, AUD/NZD, USD/MXN, CAD/JPY.
What are your currency spreads?
You can find our spreads at www.forexmeta.com/pips
At what percentage of margin does the account automatically liquidate?
The liquidation level for ForexMeta is set at 100%. (i.e. a customer has an account with $3,000 and the leverage is 100:1. If the customer opens a one lot (100K) position in USD/JPY, the required margin will be 1% or $1,000. If the market goes against the customer's position to the point where the equity reaches $1000 or 100% of the margin requirement, the MetaTrader Platform will automatically liquidate all existing open positions at the next available price.
