Frequently Asked Questions
How much money is needed to open an account?
One of the advantages of trading the FX market is that your position size can vary from a standard lot (100,000 units) to mini lot, micro lot, nano lot or even trade single units meaning there is no strict capital requirement to trade. Your broker may require a minimum deposit although that varies between brokers. If you're looking to live off your trades, then your account shouldn't really be much smaller than around £15,000.This of course varies depending on your trading style and appetite for risk. If this seems like a large amount to you and you are looking to grow your account, we recommend joining our signal service.
How long does it take to become a successful trader?
There is no right answer to this question; it varies heavily from person to person. We judge success in trading as being consistently profitable, and for some that can be a matter of weeks and for others it can sometimes take years of hard work.
What is a signal?
A signal is a trade that we are taking and we have confidence in. It consists of a market (e.g. GBPUSD60), an entry price, a profit target and a stop loss; all the necessary information to enter a trade.
When is the FX market open?
Another one of the great advantages of the Forex market is that it does not rely on a central figure to accomodate trades (e.g. NYSE) and so the Forex market is open 24 hours a day to account for different time zones. It is closed on weekends. For specifc information pertaining to your timezone, please go to our resources and visit Forex Market Hours.
Where can i find help?
If you have any questions at all, please do not hesitate to contact us at any time on our email address. You can also contact Wian or Karan on their TradingView or Twitter. We also have a Youtube channel (which can be found in the Resources) where you can comment and reach out to us.