1. How do I open an account?

2. Does ForexGen account Opening Documentation exist in different languages?

3. How much time does it take for ForexGen to set up the account from the date you receive the application?

4. What is the minimum amount to open an account?

5. Can I trade Mini and Micro lots with ForexGen?

6. Do I need to open a Mini account to trade Mini-lots? What about Micro-lots?

7. Why do I need to provide you a notarized copy of my passport?

8. I don't have a passport - can I open an account with another piece of identity?

9. Can I withdraw my money whenever I want?

10. Are there any fees involved with the withdrawal of funds?

11. How do I transfer my funds?

12. Can I transfer money using my credit card?

13. Can I transfer funds from my trading account to the trading account of another client?

14. Is it possible to open more than one account?

15. Can my account be denominated in other currencies than US dollars?

16. Does ForexGen pay interest on the outstanding balance of my account?

17. Since when does ForexGen exist?

18. Who are the owners of ForexGen?

19. Is ForexGen regulated?

21. Does ForexGen have offices in other countries? 

22. Do you only accept clients from certain countries?

23. Do you manage funds?

24. Does ForexGen provide technical analysis?

25. Does ForexGen require a minimum number of transactions per month in order to keep the account active?

26. Does ForexGen accept scalpers?

27. Has you guaranteed fills?

28. What is the maximum you increase your spreads in volatile markets?

29  What do you mean by a 'No maintenance margin' policy?

30. What leverage does ForexGen provide to all accounts?

31. From what percentage am I in a margin call?

32. Do you charge fees or commissions when opening an account with ForexGen?

33. How do you calculate profit and loss?

34. What is the maximum I can trade online?

35. Has ForexGen developed the ForexGen Trading Station?

36. How do I program my own Expert Advisor for automated trading in my trading platform?

37. Why doesn't the Market Watch show all currency pairs in my platform?

38. I have downloaded and installed the ForexGen Trading Station but the trading platform says 'no connection'. How do I connect?

39. Can I have the period of my demo account extended beyond the 30 days?

40. Why is it not possible to trade or to modify orders during the weekend?|

41. How is the volume on the price charts calculated?

42. Does the ForexGen trading station have the trailing stop loss feature?

43. Does the ForexGen trading platform allow hedging positions?

44. Where are my funds?

45. What is Foreign Exchange?

46. Where is the Central Location of the FX Market?

47. Who are the Participants in the FX Market?

48. When is the FX Market open for trading?

49. What are the Most Commonly Traded Currencies in the FX markets?

50. Is Forex Trading Capital Intensive?

51. What is Margin?

52. What does it Mean Have a 'long' or 'short' Position?

53. What about terms like 'bid/ask', 'spread', and 'rollover'?

54. How are currency prices determined?

55. How do I Manage Risk?

56. What kind of Trading Strategy should I use?

57. How often are Trades Made?

58. How Long Are Positions Maintained?

59. How do I open a 30 days Free Demo Account?

60. How do I open a Live Account?

61. What is the Minimum required Deposit to open a new Account?

62. What is the Minimum online Forex Trading Size?

63. How can ForexGen be accessed in case of installing a firewall or using a proxy server?

64. What does the ForexGen Margin Require?

65. How is the Pip Value Calculated?

66. What is the available Trading time? When is trading available?

67. What are the followed steps to download and install the ForexGen online trading platform?

68. Can I open all my accounts at the same time?

69. What can I do if my computer is shut down for a few times as a result of power failure?

70. Can I use different computers to log in to my accounts and perform trading?

71. How can I increase the security of my trading platform and create a password?

72. How can I print the provided report without saving them?

73. What is the required margin for an opposing long position in case of hedging a position by shorting?

74. Forex trading during Economic or Geo Political News events
 

In order to open an account you need to fill our Account Opening Documentation. Please go to the Account Opening Section and choose among Individual, Company, and Joint Account Opening Documentation with and without Power of Attorney then submit the required information.

In order to open an Individual Account you need to provide us with a copy of your passport and a utility bill as proof of residence (ex. telephone or electricity bill).

If you intend to open a Company Account, we will need notarized copies of different company related documents; - the specific requirements are mentioned on the second page of the Account Opening Documentation.

ForexGen must receive all documents by post at our physical address. Please notice that in conformity with International law, we cannot accept faxed or scanned documents, nor can we accept copies of documents if they are not notarized. Those might be sent to start the account opening process, but only when we receive the notarized documents, our compliance officer will check your application. Once accepted, our staff will set up an account for you and they will contact you to inform you of your username and password and provide you with the wiring instructions.

At the moment the Account Opening Documentation exists in English, but it will soon be available in French, German, Spanish, Portuguese, Italian, Russian, Greek and Arabic as well.

Usually the account is set up within two days. Our compliance department verifies that the documentation is in order and afterwards our back office sets up the account.

The minimum amount to open a Mini Account is $250.

The minimum amount to open a Standard Account is $2,500.

Yes, ForexGen offers the possibility to trade mini-lots. The minimum amount is 0.1 lot (10,000 of the base currency) in a Standard account or 1 lot in a Mini account (10,000 of the base currency), Micro lots can be traded in Mini accounts with minimum amount 0.1 lot (1,000 of the base currency).

No, we do not distinguish between standard and mini accounts. All clients can trade mini lots on a Standard account as long as Mini accounts. Micro lots can be traded only on Mini accounts with minimum amount 0.1 lot (1,000 of the base curreny).

This is part of the strict control procedures of International Anti-Money Laundering laws to ensure that the person who wants to open an account is indeed who he pretends to be.

Yes, any official piece of identity with photo and signature will do.

Yes! Just fax us your Fund Withdrawal Request you can find it on our website and we will wire the funds to your bank account.

ForexGen does not charge any fees for processing a Withdrawal Request, however our banker does charge a fee for the service. The size of the fees is usually around $30.

ForexGen can only accept funds that have been wired from an account that carries the name of the client. Funds are accepted by wire transfer and e-gold payments.. Others can transfer money to your account only if we are notified in advance and in written with your authorization and signature.

In conformity with International Anti-Money laundering laws, clients cannot fund their accounts via credit card payments.

No, it is not allowed to transfer funds between different clients' accounts nor to third parties.

Yes, you can open several sub accounts to your account. To open a sub account, simply print and fill the sub account request form and send it to us by fax or email. You can do that by sub account request Please notice that it is not possible to have your sub account denominated in a different currency.

Yes, you can choose to have your account denominated in USD, EUR, GBP, JPY, CHF, AUD or CAD.

No, your account does not earn interest. It is a trading account, not a bank account.

ForexGen was established in 2003.

ForexGen is owned by a group of private investors.

ForexGen is registered and regulated by itself and through its partners ForexGen is furthermore being audited by leading revision firms several times a year.

21.Does ForexGen have offices in other countries?

Yes, we have offices in many countries, see our Contact us page.

No, clients from anywhere in the world can open an account with ForexGen!

No, ForexGen is providing access to the Forex market through the ForexGen Trading Station, but does not manage funds. We are, however, working with a number of Asset Managers, with whom we can put you in contact if you so wish

Yes, in collaboration with Capital Managers, ForexGen provides technical analysis on the six majors and on the major crosses directly to the mailbox in the ForexGen Trading Station on an almost daily basis. The technical analysis is provided to both live clients and demo clients.

No, the account stays active no matter the level of activity.

ForexGen Preserves the right to ban any Customer from its trading platform, suspend any accounts temporarily or permanent at any circumstances where the account was suspected to perform one or more of the following forbidden activities: Illegal pip hunting and Illegal scalping.

Under normal market conditions our dealers always execute orders at the indicated price. In situations of market gaps it is impossible to cover the positions with our liquidity providers, and you may be filled at a different price than initially requested. However, ForexGen guarantee fill in situations with gaps of up to 20 pips.

We can't give a fixed maximum; it is impossible as it completely depend on the market. However during important news announcements or in volatile markets we usually do not increase the spreads for the majors to more than 5 pips, occasionally to 10.

ForexGen "no maintenance margin policy" means that our clients' positions can reach and go below the margin requirements without ForexGen close their opening positions. Throughout the week your positions may fluctuate and ForexGen will take no action. We only require you to respect the margin requirements by Friday 23:00 GMT and before holidays. "No maintenance margin policy" means if your positions go below the margin requirements, we don't close your account or even give you margin calls. However, if you approach the level where the loss of your open positions approaches the balance of your account, you will be stopped out and your positions will be closed. Stop positions will be executed when there is only around 5% equity of the required margin left in your account. Offering "no maintenance margin policy" to our clients gives more flexibility and confidence to our clients, as they can decide for themselves when they want a position to be closed. Sometimes if the price is going against you, many of our competitors would close the position if it goes below the required margin - even if the price bounces back the next moment. We give the client complete control over his positions.

ForexGen provide a leverage of 100:1 for Standard Accounts and 200:1 for Mini Accounts, 400:1 and 500:1 leverages can be provided for Mini Accounts upon request.

No maintenance margin for all accounts during the week. However, the margin requirements must be respected by Friday at 23:00 GMT and before holidays. One of our dealers will contact you if you are below your margin requirements at that time. Your margin requirements will depend on the client's account equity. For more information try Contract specification page

No, ForexGen does not charge any fees or commissions. It is free for ForexGen clients. The client's only cost is the spread .

On ForexGen website we have a section that explains how profit and loss is calculated in out trading station.

Try our profit loss calculator.

ForexGen don't limit its clients with maximum amounts to trade online or by phone. The maximum in trading only applied to number of lots when trading online at the streaming prices. Trading with bigger amounts is possible, but you will need to request a quote and that depends on the market conditions.

No, the ForexGen Trading Station is based on the Meta Trader 4 (also called MT4) software, which has been developed by Metaquotes. However, ForexGen has developed several online trading tools and facilities services, a fully automated trading system with unique trading facilities, and a full set of custom and unique indicators, trading strategies and expert advisors to make trading easy and successful. Please contact us for more information.

If you want to try and program an Expert Advisor and you are familiar with programming. Expert advisor programming language is very similar to C++. ForexGen provides user guide to help its clients. You can download this user guide download.

If the Market Watch does not feature all instruments, just put the cursor somewhere in the Market Watch, right-click and choose and choose 'Show All'. All pairs, including gold and silver prices, should now appear in the market watch.

It is important that you open a demo account in the system when you download the platform. Because, the trading system will not connect if there is no account created. If you skipped to fill the grey box that popped up when you installed the platform , few steps to create demo account; just go to 'File' in the menu and choose 'Open an Account'. Fill the box that appears and remember to tick the box about news letters. You should now receive an account with login and password and you will connect to the server - please accept the system updates, when proposed.

Unfortunately it is not possible to extent that period. All demo accounts automatically expire after 30 days. We would like to notify you that all data regarding the demo account will be lost when the demo account expires. However, If you need to keep a copy of your trading history, we advice you to copy the account statement on your computer. To do that, go to 'Account History' in the 'Terminal' at the bottom of the trading platform, right-click and choose 'Save as Report'.

We do not accept neither trading nor order modifications during the weekend. Our dealing room is closed during weekends and the trading access is also blocked. If we don't have traders in the dealing room to verify that everything takes place according to standard practice.

The volume is generated as the amount of incoming price ticks. If the price is continuously changing, it is an indication of big volume. The more changes the more activity and the bigger the volume.

ForexGen trading platform offer trailing stop loss feature to its clients, which is activated for both demo account platform and for live accounts.
To activate the Trailing Stop loss on a position, go to 'Trade' in the 'Terminal' at the bottom of the trading platform, right-click and choose Trailing Stops. Please note that you have to be making a profit of minimum 15 pips before you can activate it

ForexGen Trading Station allows Clients to open hedge positions (hold both long and short positions of the same pair). However, hedging between a spot currency and CFD for the same currency is disabled.

ForexGen increases concern over the security of its clients funds in the Forex industry, ForexGen clearly explain its policy in funding processes. We don't hinder our clients trading ambitious. To guarantee that operational funds are kept separated from clients funds. According to the regulative authorities with keeping to common practice, ForexGen doesn't ensure clients funds. Even the company does, however, in order to achieve reputation among our clients we care about transparency, integrity and investor assistance.

The Foreign Exchange market, Forex trading or FX market is the largest financial market in the world, about 1.5 trillion $ are turned over in Forex daily. Foreign Exchange or currency trading is the synchronous buying of one currency and selling of another. All currencies are traded in pairs as EUR/USD (euro/us dollar).

Forex market is not centralized; it is considered an Over the Counter (OTC) market, that the foreign exchange transactions are conducted between two counterparts over the telephone or via an electronic network.

Forex market historically has been controlled by banks, including central banks, commercial banks, and investment banks; so Forex market is called an Interbank market. Other participants' percentage of Forex market increases rapidly. Those participants include large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and private speculators.

Forex market is open 24 hours. Currency trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Forex traders can respond to currency fluctuations caused by economic, social and political events at the time they occur.

US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and the Australian Dollar are major trading currencies nowadays. Generally the most commonly traded currencies are of countries with stable governments, respected central banks and low inflation.

No, ForexGen allows customers to execute margin trades at up to 500:1 leverage. Forex traders execute trade according to margin requirements. Remember, the leverage allows Forex traders to maximize their profit potential as much as loss potential.

Margin is the amount of money that ForexGen want Forex trader to deposit. Initial margin requirement of ForexGen is 1% for standard accounts. The system automatically check for margin availability, and will execute the transaction only if the trader's account has enough margin. When a trader's initial margin value decreases by 50%; Additional margin is required based on the value of open positions. ForexGen reserves the right to liquidate any open positions should the initial margin of trader's account drop below 50%, this risk management strategy for ForexGen and Forex traders to ensure that traders do not lose more than their accounts' balances.

Long position is buy process; Forex trader buys currency at certain price waiting to sell it at higher price. Short position is sell process; Forex trader sell currency at certain price and when the price falls down he gains. Remember that the Forex position is that the trader buys a currency and sell the other.

Detailed definitions for all Forex related terms are presented by ForexGen inclusive glossary

Some factors affect currencies' prices such as economic conditions, political stability, and inflation. Governments sometimes flood the market with their currency trying to lower the price or buy their currency to raise the price; this is called Central Bank Intervention. Any of these factors with large market orders may cause prices' volatility. However, size and volume of the Forex market enables any one entity to 'drive' the market for any period of time.

There are common tools to manage the Forex trading risk such as the limit order which uses restriction on the maximum price paid or the minimum price received, and the stop loss order that uses predetermined price to close order to limit losses. Liquidity of the Forex market facilitates the execution of limit order and stop loss orders.

Forex traders should use technical factors such as charts, trend lines, support and resistance levels, numerous patterns and mathematical analyses. And also traders should know economic fundamentals to interpret economic information such as news, government-issued indicators and reports, and even rumors. These factors help to know trading opportunities. Also unexpected events may cause price movement. The event can range from a Central Bank raising domestic interest rates to the outcome of a political election or even an act of war.

Trading activity is determined by market conditions. The average small to medium trader may trade about 10 times a day.

The position is still open till reach enough profit or the price reaches the determined stop-loss or the trader close it to make another better one.

Go to demo account page

Go to live account Page

In order to open a new account it requires a minimum margin deposit of $250 for a Mini Account and $2,500 for a Standard Account via bank wire and e-gold payments. Try to access Deposit fund page

ForexGen provides foreign currency exchange Standard lot, or 100,000 of the base currency, with a minimum margin deposit of 1%. For example, $100,000 position would require an initial margin deposit of US $1,000, and foreign currency exchange Mini lot, or 10,000 of the base currency, with a minimum margin deposit of 2%. For example, $10,000 position would require an initial margin deposit of US $50

63.How can ForexGen be accessed in case of installing a firewall or using a proxy server?

Firewalls are important as it saves the computer of the user from any interfering hacker those usually access a scanning program on the Internet to find computers with open communications ports. As those hackers try to deceive the computer user in order to download Trojan horses or plant one on the person's system. Trojan horses, these programs are harmful and dangerous they transfer the information on the victim's computer to another computer. Consequently ForexGen never requires disable your firewall. Thus the user must assures that the used proxy server has port 8080 open for bi-directional traffic as well as have all ports from 1024 and up open to send data. In case that was not allowed by the proxy server, the computer owner might have to ask for a connection separate from the proxy server to access the ForexGen online trading services easily. The needed requirements to access the ForexGen are the same in both cases of using a proxy server or installing a firewall. Sending data is available just by having opened port 808 for bi-directional traffic and all ports from 1024 and up.

Foreign currency online exchange and commodity trading is usually based on 'margin'. The required cash deposit for an online trading execution is usually less than the underlying value of the currency or commodity contract. For example, a TSP might require only $1,000 in the trader's account in order to trade a $100,000 currency position. The $1,000 is referred to as 'margin'. This margin is used to assure reducing the predicted loss risk. The main purpose of having margin deposit in your forex trading account is creating a sufficient margin as all the purchasing and selling is not real. Margin resembles rational assessment of expected risk in each executed position. So, unstable changeable currencies need a higher margin. For example if a $100,000 currency position is changing by more than 1% (or $1,000) in a 24 hour period, the suitable margin in this case is $1,000. Also If the currency is highly volatile and regularly changes by $3,000 or more or 3% it would require a suitable margin with $1,000 margin deposit. The trader must be aware that the trading account margin is based on account equity not the account balance. The forex trading account at ForexGen is accurately valued by the equity because it includes the account unrealized profits or losses. ForexGen guarantees that our customers never lose more than their deposited funds.

A pip characterizes the smallest incremental move an exchange rate can make for a currency. How much in dollars is each movement value, for example, per 100,000 Euros in EURUSD? How much is one pip worth per 100,000 Dollars in USDJPY? The trading size will be called 'Notional Amount'. The equation of calculating a pip value is :( one pip, with appropriate decimal placement/currency exchange rate) x (Notional Amount) Using USDJPY as an example, this yield: (.01/120.46) x USD100, 000 = $8.30or $8.30 cents per pip Using EURUSD. For an example, if there is:(.0001/1.0066) x EUR100, 000 = EUR 9.93 to get the value of the pip in USD multiply EUR 9.93 x (EURUSD exchange rate): EUR 9.93 x 1.0066 = $10.00This is in fact a general phenomenon with different currencies in which the currency is quoted first (such as EURUSD, GBPUSD, or AUDUSD): the pip value is always $10.00 per 100,000 currency units. Having a currency quoted first is the main reason of having a fixed pip value. Approximate pip values for the major currencies are as follows, per 100,000 units of the base currency:USD/JPY: 1 pip = $8.30; In other words a change from 120.45 to 120.46 is worth about $8.30 per $100,000.EUR/USD: 1 pip = $10.00; 1.0066 to 1.0067 is worth $10.00 per 100,000 Euros.GBP/USD: 1 pip = $10.00; 1.5765 to 1.5766 is worth $10.00 per 100,000 Pounds.USD/CHF: 1 pip = $6.87; 1.4555 to 1.4556 is worth $6.87 per $100,000.

ForexGen is an online trading service provider. The online currency trading market is considered to be the largest growing business market. At ForexGen trading is available at three sessions the first begins Sunday at 7:00 P.M. NYT, which is the Asia session. The second is the European session, which begins at 3:00 A.M. The third and final is the New York, which begins at 8:00 A.M. The majority of the trading occurs between 3:00 a.m. and 1:00 p.m. EST.

Go to demo registration page

If the ForexGen trader have more than one account he can easily open them at the same time. To open each account: first Open a new browser. Then, Go to the Navigator and open the 'accounts folder'. After that, Click on the account you want to open. In order to access an expert advisor on the new account clicks on one in the Navigator. Note that only one 'Expert Advisor' could be accessed within the same platform.

In that case all the accounts will be logged off and also the expert advisor will stop working until the trader re- log into his account.

The user can open and access his account using different computers as long as this computer has the ForexGen online Trading platform installed on it. You can also access the computer which has the ForexGen online trading platform through a remote accessing program like www.radmin.com or www.pcconnect.com.

Once the user opens the trading platform he will be logged into his account automatically. To increase the security you can create your own password by the following steps: 1. Open the menu bar and select Tools 2. Then choose options 3. Check the box next to - 'Keep personal settings and data at startup'. 4. The check mark will disappear. Consequently the trader must enter his password each time he accessed the ForexGen online trading platforms. Please Notify that your Login number and Password recorded before restarting your trading platform.

In order to print the ForexGen provided reports you have to save it first.

ForexGen requires no margin on the new position that the trader might open up with the same number of lots and is in the opposite direction of the first one. The second trading opened position will be margin free if it has the same number of lots, in the opposite direction on the same currency.

It any principal economic events and situations, like non-farm payroll, the currency price will change with a great gap immediately after this situation. Fundamentally the price changes just after the economic news and events occur which results a decrease in the Offers at the forex market on the current price. Banks are able to create their offers principally from where it was before the events release. If someone has a resting order such as a buy stop or sell stop, those stop orders are accessed and turn into market orders and then are executed at the currently existed foreign currency exchange market price. A buy stop or sell stop could easily turn to the market order after the activation and it's filled at the current currency price which doesn't assure a certain order at a specified price. The volatile nature of the forex trading market makes the buy stop or sell stop order differs extensively from the real order price during principal market moves or gaps, during an economic release like non-farm payroll.

Disclaimer

The accuracy or completeness of the services supplied connected with this agreement or any information included within will not be warranted or guaranteed by ForexGen. Any person or entity that obtains results from the use of information or software included in the services provided will have no warranties, expressed or implied from ForexGen, neither will ForexGen make warranties of fitness for a particular purpose or use. ForexGen and its partners will not be held responsible for any direct, indirect, incidental, special or consequential damages done to subscribers or any third parties. These damages include without limitation ForexGen's neglecting or either these damages were foreseen or unforeseen.

ForexGen will never have any responsibility regarding the delays or interruptions caused by uncontrolled circumstances. The performance of the Internet delivered services are usually affected by the following factors:

• Registered client's physical location.
• Registered client's systems configuration (browser, processor, operating system and hardware).
• Registered client's Internet connection and communication hardware (ISP, network card, modem, gateway).
• Data traffic conditions on the internet.

The Registered client must know and agree that ForexGen will not be responsible for subscribers that have technical difficulties in accessing the service due to having problems the internet, which is not controlled by ForexGen. Any data provided through the service is a property of ForexGen and it may not be copied or redistributed without the legal approval of a ForexGen representative. However, the registered users will be allowed to gain a certain amount of data and information to help them analyze, interrogate, manipulate and prepare reports to aid them with their business. Registered user MUST mention in such materials that ForexGen was the source of this data and provide ForexGen with a copy of these materials.