FAQs

1.  What is the value of a pip (point)? 
A pip is the smallest increment of price movement the currency rates can make. On 10,000 contract sizes the pip value is approximately $1.00 and on 100,000 contracts (Standard Accounts) the pip value is approximately $10.00.  An exact value is calculated as such:  On crosses that begin with a country from Europe, i.e.  Cable, Aussie, Euro the pip is always $1.00 for the mini and $10.00 for the standard account.  For all other crosses you arrive at the value of the pip by dividing one (1) by the value of the currency.  Example:  USD/JPY 120.65 bid.  Divide 1 by 120.65 = .0082884 so therefore the USD/JPY pip value is .83 cents on a mini account and $8.30 per pip for a standard account.

2.  Why do I receive or I pay interest how is the amount of the interest determined?
There is a Rollover/Interest Policy (Premium) in the spot-Forex market because trades must be settled in two business days.  If a trader sells 10,000 Euros on Tuesday, the trader must deliver 10,000 euros on Thursday, unless the position is rolled over.  As a service to our traders, ApexForex automatically rolls over all open positions to the next settlement date at 5:00 PM Eastern Standard Time.  Rollover involves exchanging the position being held for a position expiring the following settlement date.  The positions being exchanged are usually not valued at the same price.  If a trader is long the currency bearing the higher interest rate, the position "being sold" is worth more than the position being acquired.  The reverse is also true; if a trader is short the currency bearing the higher interest rate, the trader is acquiring a position worth more than the one "being sold." The amount of the difference varies based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day.  These interest rates are posted in real-time on our trading platform.

4.   Why do I have receive/pay triple interest on Wednesdays?
On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount.  This "3-Day" rollover accounts for settlement of trades through the weekend period.

5.  What, if anything, can I change on the GTS trading platform?
Quite a bit.  But rather than giving each and every change possible, the best thing to do is download the manuals here.  It will give you a total review and background on our proprietary charts, news and trading platform. 

6.  Can I also trade futures, commodities and options with ApexForex?
Yes, please go to www.ApexFutures.com to view information on trading these markets with us. 

7.  Can I put more than one chart up at a time on the platform?
Yes, review the users manual for our proprietary charts. 

8.   What is the difference between Forex currency and commodity/futures currency?
Forex currency is trading where settlement is in two days and commodity /futures currency trading is based on contracts that expire in a month/3months/6months, etc.  More importantly to you there are many advantages Forex offers which you may view here. Forex transactions are off-exchange foreign currency transactions.  

9.  How do I withdraw funds and is there any cost to do so?  How long will it be before I get my funds?
Just download our Funds Withdrawal Form here, fill it out and fax it to 210-345-2211.  If we receive the request before 11:00 am EST the funds will be sent to you that day, if after 11:00 am EST it will sent following business day.  If you request your withdrawal to be sent back to you by check is no fee.  If you request a wire transfer, we do not charge a fee, but the bank does charge a wire transfer fee. 

10.  Can I have both a mini and standard account at the same time.  Can I switch from a mini account to a standard account or vice/versa?
Yes, to both questions.  It can be done by faxing us a signed short note requesting what you wish to do.

11.  Can I have a .1%  account, i.e. 100 to 1?
Yes, you may choose to have a 1% or 100:1 margins on our Flexi or standard accounts. Note: The use of leverage results in a higher trading risk. 

12.  What happens if my internet is not working, what do I do then? 
If you cannot trade on the internet immediately call our dealing desk and speak to any one of the dealers that answer.  The telephone numbers are 800-969-8365 or 201-345-2200.  We are open 24 hrs a day from Sun at 4:30 PM to Fri at 4:30 PM EST.

13.  Do you have automatic margin calls or do you give me a courtesy call?
If your account goes below 10% of your equity there is an automatic margin call and ALL of your positions are closed.  We do not have courtesy margin calls to clients to tell them of their situation.  We do this on so that the client/trader does not lose all of their equity and we do not have to request funds from the client/trader. 

14.  Can I request more than one demo account.?
Yes, as many potential client/traders wish to practice various methods of trading.  We only ask that you do not abuse this privilege. 

15.  Can I also trade over the phone with your dealers?
Yes, see answer to question 13. 

16.  How long have you been in business, are you registered? 
ApexForex has been registered with the CFTC (Commodity Futures Trading Commission) and has been a NFA (National Futures Association) member (#0266569) for 11 years.  Our FCM, FX Solutions, has been in business for two years.  They are a FCM (Futures Commission Merchant) under the auspices, rules and regulations of the CFTC and a NFA member (#0312620).