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• Q.What's Forex?

  A.Forex is the foreign currency market. Placing it in simple terms, it’s the marketplace where we can buy currency according to its respective market price and sell it later so we can profit from it.

  Let’s have a look at an example. We might think that the American Dollar might increase value when compared to the Euro for some reason. We could buy 1000 units of American Dollars, with each unit costing $1.2443, and with a total cost of $1,2443. We spent that money to buy 1000 units of American Dollars. If the Dollar rises to $1,3 and we sell it, those 1000 units now have a market value of $1,300. In the end, we made a final profit of $557 ($1,300-$1,2443). The same goes if the opposite happens.

  This is the essence of the Forex market. We buy a certain currency at a determined price. If that currency is valued, we can sell that currency to obtain profit.

• Q.Do I have to send any kind of document to register my account?

  A.No. You can open a Demo or Real Money account without any need for documentation. However, you have to provide personal details in order to withdraw currency, specifically:

  – Copy of your Identity Card;

  – Copy of a water, electricity or gas bill or your bank statement with less than 3 months (in order to prove your personal address)

  – Copy of your debit or credit card.

• Q.Can I try a DEMO account before I invest my own money?

  A.Of course you can. If you’re not feeling comfortable, you can always test the platform with a Demo account. It works exactly the same way a regular account with real money does, but you’ll be using virtual currency instead.

  You can change an account from real to virtual money at any time.

• Q.What’s the waiting time for a withdrawal?

  A.Withdrawals can take up to 5 business day to process.

• Q.What’s the minimum amount to deposit?

  A.Since 2015, the minimum deposit amount is 200€ (before, it was 50€).

• Q.Are there any costs to copy a trader?

  A.There aren’t any associated costs whatsoever.

• Q.How can I stop copying a trader?

  A.To stop copying a trader, you just have to click the X button each trader has in its web platform. (We have a video tutorial for that)

• Q.Can I copy several traders at the same time?

  A.Yes, and you should! It’s the first rule of investing: diversification, diversification and diversification!