StartFX
StartFX is a cutting-edge solution for both new and experienced FOREX traders. StartFX also offers the best conditions on the market: zero spread and commission refunds on non-profitable trades!
StartFX is an intuitive, user-friendly trading platform. It will take a few minutes only to learn, download, and install StartFX (learn, download, and install).
StartFX killer application: Zero Spread and Commission Refunds (you pay commission only if the trade is profitable; otherwise we pay it back to you)!
PLEASE NOTE that StartFX terms are only applicable to StartFX platform.
1) How to earn money.
To make profits, you exchange one currency for another when its price is low and then exchange it back when the price is higher. Your profit equals the difference between the purchase and the sale price.
If you forecast price movements – whether currency prices will go up or down – correctly, you gain. If you get it wrong, you lose.
Even though your account is in dollars, you can trade in any currency at any time you want. This means you can make money not only on currency appreciation, but also on currency depreciation.
2) Size of trade. Deposit. Risks and benefits.
How much profit you make also depends on the trade amount, i.e., the amount of currency bought or sold. The larger your trade amount, the higher profit you can get when the price moves up, and the higher your risk of loss is when it goes down.
The maximum size of trade depends on your deposit – the amount of money you’ve got on your account. The maximum trade amount equals your deposit x 100. If you have $1000 on your account your maximum deal amount is $100,000.
The minimal size of trade is $10.000. $100 deposit is all you need to execute a $10.000 trade.
If your deposit equals $1000, you can choose a trade amount from $1000 to $100,000 depending on your trading strategy. If you are ready to risk hoping to strike it rich, go for higher yield and risks. If you want to gain little by little without risking large amounts, go for lower risks.
3) Open trade.
Before you start trading you need to open a trade:
- select the currency which you want to earn on
- select the price movement (up or down)
- select the pair currency against which the first currency price will be measured, i.e., euro goes up against US dollar, or euro goes down against Swiss frank, etc.
If you are using Fixed Price mode, you need to request the current price of your currency pair and then confirm the trade by pressing the price button. The requested price remains valid for several seconds only because quotes (prices) on the FOREX market fluctuate virtually every second.
Next, if you are using Instant Execution mode, click the Buy/Sell button and you transaction will be made.
Actual Price transaction – an option for use with Instant Execution mode that allows transactions to be made at the price in effect when the server receives confirmation of the Client’s transaction. This price may differ by a certain number of points from the price at which the Client confirmed the transaction when prices are volatile, such as when new information is published.
Market Range – an option for use with Instant Execution mode that allows transactions to be made at the price in effect when the server receives confirmation of the Client’s transaction. This option limits the number of points by which this price may differ from the price at which the Client confirmed the transaction.
In case of using wizard, transaction will be closed in Actual Price mode.
4) Open position.
Once you open your trade, a position will be opened. Within an open position every movement of currency prices causes your yield or losses to fluctuate
5) Close trade.
To freeze the profit (to credit profit available to your account) you need to close the trade. To do so, you need to sell/ buy the currency which you bought/ sold when opening the trade.
Closing trades is done in the same way as opening them. Once the trade is closed, currency rate fluctuations will no longer affect your current profit.
6) Commissions. Commission refunds.
Commission is a one time charge for opening a position. Forex Club charges one flat rate of $0.40 for every 1,000 units traded.
Pay commission only when you make a profit! Forex Club returns commission charges to you automatically and instantaneously on non-profitable trades.
Comission refunds are only availiable on Silver Service package and higher.
7) Take-profit.
You can set a take-profit order depending on the amount of profit you wish to gain.
Take-profit orders ensure that your position is closed when you make a certain amount of profit and profit generated is credited to your account.
Take-profit orders can be set when opening a trade. You can also set, modify or cancel a take-profit order for an already opened trade.
8) Stop-loss.
You can set a stop-loss order to automatically close a position when price rises or falls to a certain point. Stop-loss orders ensure that price won’t fall or rise more than you want it to and prevents you from any further losses. A stop-loss order can be set when opening trade. You can also set, modify or cancel a stop-loss order for an already opened trade.
If a stop-loss order is not set, your losses are only limited to the amount of your deposit – you can’t lose more than you have on your account. If, as a result of currency rate luctuations, your cumulative current losses on your open positions reach the amount of your deposit, all the positions will be automatically closed.
9) Traded currency pairs.
You can trade using the following currency pairs:
EUR/USD euro/ US dollar
GBP/USD pound sterling/ US dollar
USD/JPY US dollar/ Japanese yen
USD/CHF US dollar/ Swiss frank
EUR/JPY Euro/ Japanese yen
EUR/CHF euro/ Swiss frank
CHF/JPY Swiss frank/ Japanese yen
AUD/USD Australian dollar/ US dollar
NZD/USD New Zealand dollar/ US dollar
USD/CAD US dollar/ Canadian dollar
CAD/JPY Canadian dollar/ Japanese yen
10) Pips (smallest price increment). Calculating profit.
For the EUR/USD, GBP/USD, AUD/USD, NZD/USD, USD/CHF, EUR/CHF, USD/CAD currency pairs the pip is 0.0001.
For the USD/JPY, EUR/JPY, CHF/JPY, CAD/JPY currency pairs the pip is 0.01.
For the EUR/USD, GBP/USD, AUD/USD, NZD/USD currency pairs the profit on a deal amount of 1000 units, earned for 1 pip, equals 0.1$
For the USD/JPY, EUR/JPY, CHF/JPY, CAD/JPY currency pairs, the profit on a deal amount of 1000 units, earned for 1 pip, equals 10$ divided by the USD/JPY exchange rate.
For example, if the USD/JPY exchange rate is 118.37, then the profit on a deal amount of 1000 units for the USD/JPY, EUR/JPY, CHF/JPY, CAD/JPY currency pairs, earned for 1 pip, is calculated as $10 divided by 118.37 equals 0,08$.
For the USD/CHF, EUR/CHF, USD/CAD currency pairs, the profit on a deal amount of 1000 units equals 10$ divided by the exchange rate of the currency paired up with the US dollar.
For any transactions profit is calculated as follows:
Profit = trade amount/ 1000 x price increment/pip x profit on a deal amount of 1000 nits earned for 1 pip.
11) Rollover fee.
If a trade is not closed on the day it is opened, a $0.15 fee for 1000 units will be charged. Rollover fee is charged on all trades that remain open at 9pm GMT.
12) Minimum take-profit and stop-loss orders.
You can set take-profit and stop-loss orders for your trades of at least $1.2 for every 1000 units of a deal.
If you set or modify a take-profit order for an open trade at profit, the take-profit level must exceed the current profit by at least $1.2 for every 1000 units.
If you set or modify a stop-loss order for an open trade at loss, the stop-loss level must exceed the current loss by at least $1.2 for every 1000 units.
13) Modify open trade. Deal modification fee.
You can modify an existing open deal if you decide to change your price movement forecast but still would like to keep the position open without freezing it.
Once you have ascertained your forecast you may increase the deal amount, thus increasing your potential profit.
To do so, you need open make another deal in the same currency pair, with the same price movement (for exaple, if you bought USD you need to buy more of them).
As a result, the price of the initial deal is averaged with that of the amount-increasing deal, while your current profit remains unchanged.
For such deal, a $0.4 fee is charged for every 1000 units of the amount-increasing deal.
If you are less certain about your forecast you may decrease the deal amount, thus lowering your potential losses.
To do so, you need to open another deal in the same currency pair, with the opposite price movement, for the amount less than that of the initial deal (for example, if you bought USD you need to sell some of them).
As a result, the price of the initial deal is averaged with that of the amount-decreasing deal, while your current profit remains unchanged.
For such deals, no fee is charged.
If you decide to reverse your forecast you can reverse your deal as well.
To do so, you need open a deal in the same currency pair, with the opposite price movement, for the amount exceeding that of the initial deal (for example, if you bought USD you need to more than you had).
As a result, the price of the initial deal is averaged with that of the amount-decreasing deal, while your current profit remains unchanged.
For example, if you thought earlier that the US dollar would keep growing and bought USD, and now you think that the US dollar will keep falling you need to sell more USD than you bought originally. Then you will start gaining from the dollar becoming cheap.
For such deal, a $0.4 fee is charged for every 1000 units of an averaged deal.
14) Commission refunds on changing open trades.
If you reverse a non-profitable trade – your commission will be refunded.
If you decrease a non-profitable trade – your commission will be refunded partially (if the size of trade is decreased by 50%, 50% of commission will be refunded; if the size of trade is decreased by 30%, 30% of commission will be refunded).
