Alphapro Traders FAQ
Looking for answers to your inquires? Simply click on the appropriate question from our FAQ section below.
FX Trading Questions
What is Forex?
Forex, additionally known as foreign exchange or FX, is the over-the-counter market in which the foreign currencies of the world are traded. The forex market is available 24 hours a day, five days a week and it’s the largest, most liquid financial market in the world. Comparatively, the New York Stock Exchange (NYSE) makes approximately $169 billion a day in volume while the forex market makes well over $5 trillion a day in volume.
What is a PIP?
A PIP is generally the 4th decimal point in the price of a currency pair. For example, if the listed price is 1.1473 – the 4th decimal point is the number 3. If the price moves to 1.1479, then it has moved 6 PIPs. It is important to point out that with select assets the PIP definition may be different.
What are spreads?
The spread of a financial instrument is the difference between the price of the Bid (the Sell) and the Ask (the Buy) of an instrument. For more information about our spreads please refer to the Trading Conditions page.
What is slippage and why does it occur?
Slippage ensues when the market gaps over prices or because available liquidity at a given price has been exhausted. Market gaps generally happen during fast-moving markets when a given price can jump several pips without trading at prices in between. Likewise, each price has a certain amount of available liquidity. For example, if the given price is 60 and there is 2 million available at 60, then a 4 million order will get slipped, since 4 million is more than the 2 million available at the price of 60.
How do I manage my risk?
The most prevalent Forex risk management tools are the limit and stop loss orders. A limit order places a restriction on the maximum price to be paid or the minimum price to be received. A stop loss order sets a particular position to be automatically closed at a prearranged price in order to limit potential losses if the market moves against a trader’s position.
What financial products can I trade with Alphapro Traders?
With Alphapro Traders you can trade major, minor and exotic currency pairs. Additionally, you can trade Forex on commodities, stocks and indices.
What other services does Alphapro Traders offer?
Alphapro Traders additionally provides exceptional Forex trading education, as well as tools to equip traders to make intelligent trading decisions. Including webinars, live-trading sessions, daily Forex analysis and trade alert, and one-on-one consultation with our resident experts.
How long does it take to open an account?
Opening an account with Alphapro Traders is simple and quick
What documents do I need to provide if I want to be a trader?
- A color copy of valid passport or other official identification document issued by authorities (e.g. driver's license, identity card etc). The identification document must contain the client's full name, an issue or expiry date, the client's place and date of birth or tax identification number and the client's signature.
- A recent utility bill (e.g. gas, electricity, water, phone, oil, Internet or bank account statement) dated within the last 3 months and confirming your registered address.
Who should I contact if I have a trading inquiry?
You can contact our Customer Support Center at firstname.lastname@example.org regarding any query you might have. Our Customer Support is available Sunday to Friday between 8:00 and 22:00 GMT+2.
Can I update my personal information?
If you wish to update your email address or your residential address, please send an email to email@example.com from your registered email address, along with your new proof of address.
How can I reset my password?
You can reset your password by selecting ‘Forgotten Password’ on the login tab. Then type your email address that you use to login in your account along with the verification code and press ‘Submit’. We will then send instructions for changing your password to the same email address.
Can I change the base currency of my account?
The currency base on your platform cannot be changed. In order to update your currency base you will need to register for a new account and select your base currency. Please make sure that “Currency” field is set to the one of your choice.
How do I deposit funds into my account?
We offer a variety of deposit options. Click here to see all of the available methods.
How do I withdraw my funds from my account?
Withdrawing funds from your Alphapro Traders account can be done by logging into your account and selecting the withdrawal button. Afterwards you need to provide a few verifying documents. Once that is completed a staff member will review the request and the funds will be released upon approval. Click here to learn more about our withdrawal procedure.