Frequently Asked Questions
Trading with BizFOREX
Why should I trade with BizFOREX?
- 100% automated - from market-making through trade execution
- Real-time executable pricing - transparent pricing
- Instant settlement, deal confirmation
- All major currencies offered - with option for VIP accounts that provide
exotic currencies.
What are BizFOREX's trading hours?
24 / 7 - BizFOREX is the only Internet-based platform currently accepting trades
over the weekend.
What currencies can I trade in?
BizFOREX currently offers the following currency pairs:
EURO / GBP / USD / CHF / JPY
BizFOREX will expand coverage over time.
What is the difference between a Trade and a Position?
Trade- the buying and selling of a currency pair. (Multiple trades = a position)
Position- the aggregate value of all trades within a given currency pair.
How do I manage risk?
The most common risk management tool in Forex trading is the stop-loss order.
A stop-loss order ensures a particular position is automatically closed at a
pre-specified price in order to limit potential losses should the market move
against an investor's position. The liquidity of the Forex market ensures that
stop-loss orders can be easily executed.
What is the minimum & maximum trade size?
The minimum trade size is USD 3,000 . There is no maximum trade size.
What is the margin ratio?
Maximum 50:1, which means you take a position that is 50 times greater than your margin
availability.
Do I have to trade on margin?
All trades are conducted on margin as to protect customers from losing more
than the current value of their accounts.
How does IFT manage my position versus my margin limits?
BizFOREX IFT automatically checks margin requirements every time you issue a trade
and every time there is a price movement in a currency pair. An Account Summary
posting the Margin Used and Margin Available will be present on the trading
screen at all times. When/if your margin availability declines to 50%, the
system will liquidate your positions. It is important that your account is
maintained or topped-up adequately before a market order is placed so as to
avoid the system triggering.
This will protect you from losing more than your margin deposit.
What is a margin "call" as it relates to BizFOREX's
IFT Platform?
BizFOREX's margin call occurs when a trader's available margin drops below
50%.
At this threshold, IFT will automatically close the trader out of all open
positions.
Where do the IFT rates come from?
BizFOREX uses advanced market making technologies that utilize proprietary forecasting
and risk management engines to provide a real-time transparent market.
How often are the prices updated?
The prices are updated in real-time, which means when the market (or price)
for a currency changes it will be reflected on the front-end simultaneously.
Do you have real-time graphs?
Yes. The graphing feature in the IFT user interface provides real-time
graphs tracking price movements in the following granularities: 5 sec., 10 sec.,
30 sec., 1 min., 5 min., 30 min., and 1 day. You can view multiple graphs simultaneously
by clicking on the desired currency pair identifiers in the Current Rates Table.
Why is there a space on the graph between the chart lines?
The bottom line represents the bid prices, the top line represents the ask
prices and the space between the lines represents the spread.
Can I use the graph to do any studies?
For specific questions regarding the features and functionalities of the
IFT,
please refer to IFT User Interface.
What do I do if there is a problem - how do I contact help?
BizFOREX has a client services line dedicated to trading and account related
issues that can be reached by dialing 1-703-997 8545
For questions/problems regarding other trading tools accessible via the platform
( Forex Daily, Forex Graph), contact us using our contact
form.
I lost my password, how can I retrieve it?
Under IFT's Help and Customer Service section you can use the to 'Forgot/Retrieve
Password' link to retrieve your password. Upon completing the necessary
fields, your password and username will be emailed to your given email address.
Can I make a trade over the phone?
As a 100% automated platform, IFT does not offer a phone trading option. The
trading platform does, however, allow users to place stop-loss, take-profit and
upper and lower bound limits to facilitate trades.
What additional services will I receive as a client of
BizFOREX?
As a client of BizFOREX, you will be entitled to many added services Market
Analysis, Reports, Forecasts, Discounts on BizFOREX's new products.
