UK Forex Frequently Asked Questions
General Questions
Q: Is Vantage FX UK regulated?
A: Yes. Vantage FX UK is regulated by FSA in London. For further details please go to the Legal Documentation section.
Q: Where is my money held?
A: Funds are deposited into a client trust account at NatWest Bank in accordance with FSA regulations. This is a UK ‘AA’ rated bank.
Q: How do I deposit funds?
A: There are several options for depositing funds, including: Bank transfer and various Card options.
Q: How long will it take for funds to appear in my Live Account?
A: Funds clear overnight so should appear in your Live Account the following working day but can take up to 3-4 days.
Q: How do I withdraw funds?
A: Simply refer to the Withdraw section under the Clients menu tab and download the appropriate form.
Q: Why is the price displayed on the charts sometimes different than the FX price quoted?
A: Vantage FX UK in conjunction with Enfinium, receives FX price feeds through our liquidity provider. Most FX providers offering this style of price feed will levy a fee per trade to keep clients trading costs down. Vantage FX UK and Enfinium places a very small spread markup to cover hedging costs and this is reflected in the difference between the price quoted and the indicated chart level. In addition we would like to point out that charts are always for indication purposes only.
Q: How do you calculate the value of a pip?
A: If to 4 decimal places, then use the following formula:
(0.0001 / Spot Price) * Lot Size
Q: How do you calculate the margin per trade?
A: Overall Lot Size / Leverage Amount
For example: 2 lots at 400:1
200,000 / 400 = 500 margin required
Q: Why does the demo only last 30 days?
A: The MetaTrader 4 demo is only a basic overview to show how the platform works. You can get on the free live platform by opening an account.
Q: Can I trade micro & mini lots?
A: Yes. You can trade as little as 0.01 lots (1,000 base currency)
Q: How do I open a long position?
A: In the MetaTrader 4 platform, go to ‘New Order’, then click on ‘Buy by Market’.
Q: Are Scalping and Hedging allowed?
A: Yes, both scalping and hedging are allowed.
Q: What is your leverage?
A: FX leverage through MetaTrader 4 is set to 100:1 as standard, but can be increased to 300:1 and even 500:1 upon request. If you would like to amend your leverage, please contact your account manager.
Q: What currency is my account held in?
A: You can open an account either EUR, GBP or USD.
Q: What are the tax implications for overseas customers who trade through Vantage FX UK?
A: We are non-advisory, so we cannot comment on clients’ personal circumstances. You will need to check with your local tax office.
Q: Will I earn any interest for any funds deposited into my Live Account?
A: No.
Q: Can I log in to my account simultaneously on separate computers?
A: Yes, this is possible.
Q: Can I log in to multiple accounts on the same computer?
A: Yes, through a multi-terminal facility.
MetaTrader 4 Troubleshoot Questions
Q: Will the MetaTrader 4 trading platform work on Apple Mac? If so, what is required?
A: The MetaTrader 4 platform will work ok Apple Macs with inbuilt Intel processors, provided you have downloaded Virtual Machine as an OS.
Q: What time zone are the charts in MetaTrader 4?
A: MetaTrader 4 charts are set to be GMT +3.
Q: My platform shows 'Trade Context is busy'.
A: Close and reload the platform. The error should go away.
Q: I can't place a stop loss or take profit order on my trade.
A: On market execution you cannot place your pending orders before execution of the entry order. After placing the trade you can add your stop/limit orders through the Terminal.
Q: My Expert Advisor is not taking any trades.
A: Check the Experts tab in the Terminal. If the EA is trying to place trades without success it will show an error number. Download a PDF of all MT4 error codes.
Q: My Demo will not login.
A: Demo accounts expire after 30 days as standard. To get a new demo account, in the MT4 platform go to File>Open an account and you can generate a new login and password. You do not need to download the platform again.
Q: My account shows as invalid.
A: The message invalid account shows when the login or password information is incorrect. Please check your login, password and the server address.
Q: I cannot find the swap rates.
A: Go to the market watch area, right click and choose symbols. Click on the properties for a trading symbol and it will give you all details including the swap rates.
Q: Why can't I see all the currency pairs?
A: To view all currency pairs, right click on the market watch and then choose 'Show All'.
Q: I want to change my chart time.
A: The trading platform time cannot be changed. There are local time indicators availlable to download from the MetaQuotes community.
