Here below are some of the frequently asked questions that will guide you in understanding our Forex accounts.
IBROKERS TRADING ACCOUNTS
How many currency pairs does iBrokers offer?
To find out the currency pairs that we offer, please refer to our Product Schedule to get detailed information.
What are the Trading Hours?
The trading hours are as follows:
Opening hours: 21:00 Sunday evening GMT
Closing hours: 21:00 Friday evening
All our clients are notified in advance should there be any changes in regard to the trading hours.
What time do your charts reflect and why?
The time setting on the iBrokers trading platform is set at GMT+2, also known as ‘New York Close’. We chose this time to avoid ‘weekend candle’ which would then appear on Sunday on a daily chart with GMT based platforms.
What time is live chat available?
Our live chart is available all day (24 hours) during working days starting from 22:00 GMT Sunday evening.
What is the minimum I can deposit?
You can deposit as little as $200 for the standard accounts.
What is the minimum deal size?
At iBrokers, we allow trading of micro lots on the standard accounts valid for all FX pairs. We also have gold, silver and WTI.
What is the maximum leverage you offer?
400:1 is the maximum leverage for MT4 trading account with iBrokers. However, the standard leverage is 100:1 on Forex only.
Do you have platforms for mobile phones?
Yes, we do have mobile platforms.
Can I trade with Expert Advisors (EAs)?
At iBrokers, we allow all EAs and thus you can use them.
Can I have multiple logins on the same account at the same time?
The choice to be logged into the same live account is yours to make. You can be logged in as many times as you prefer.
How often do I receive an account statement?
There is daily confirmation of your trades that you will receive. In regards to statement, we will send you a monthly statement on the first day of the new month.
ACCOUNT OPENING AND OPERATION
Do you have 24-hour support?
Yes, we provide 24-hour support on all the working days. You can contact us at any time and you will get prompt reply to any of your query.
How do I withdraw funds from my iBrokers account?
The withdrawal process is quite easy. You will only need to provide your login details and password and submit a withdrawal request to our customer service team.
How long does it take after withdrawal to get my cash?
You will get your money on the same day after withdrawal. It takes a maximum of 24 hours for the withdrawal request to be processed.
How do I deposit funds into my iBrokers account?
There are different ways to fund your account. You can opt for bank transfer which will take 3 days or fund your account using your credit/debit card which takes less than 10 minutes.
How long does the demo account last for?
The demo account last for up to 30 days after which it will expire and you will be required to open a Live Account.
How do I close my iBrokers account?
Before you close an account with iBrokers, you should ensure that all your trades are closed. Afterwards, you should email our customer support to begin processing your request for closing your account.
What is swap?
Swap is the exchange premium/interest that you are charged or earn daily for trades carried from day to day.
How do I find the swap rate?
The swap rates are right on the trading platform. To locate swap rates, right click on a pair in the ‘market watch’ and then select symbol you wish to view then select its properties which will show the relevant swap rates.
What is a spread?
Spread can simply be defined as the difference between the BID and ASK price in the market quotes.
What are the different pending order types?
Here below is a list of the pending types that you can utilize in your trade:
• Buy Stop
• Sell Stop
• Sell Limit
• Buy Limit
For more info, contact our customer support.
METAL, OIL & DFC TRADING
What are the margins and tick values on the indices?
1% is the standard margin on all iBrokers’ MT4 Metal, oil and CFD.
What time does gold open on MT4?
It opens on Monday 01:00 Server Time
How much is Gold to trade?
100 ounces = 1.o Standard Lot ($1 USD for each pip Movement)
How much is Silver to trade?
5000 ounces = 1.0 Standard Lot ($25 USD for each price tick)
What is rollover?
Detailed information about rollovers and when it happens can be found at the links below here
• Oil Rollovers
• Index Future Rollovers
METATRADER MT4 PLATFORM
What does the error message “trade context is busy” mean?
This is an error that occurs when the system receives multiple requests at the same time. To resolve the error, simply restart your MT4 trading platform.
Why do I see an invalid account message?
You either are experience an incorrect login or password error. Ensure that you have input the correct login details and continue. If the problem persists, please contact us.
Why does my platform failing to perform live update?
The problem is probably due to the restrictions in Windows. Please ensure that you have set MT4 to ‘run as administrator’ for it to perform live updates as required.