Frequently Asked Questions
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Questions about IC Markets
Questions about Trading with IC Markets
Opening time: 00:01 MetaTrader 4 Server Time (Monday)
Closing time: 23:57 MetaTrader 4 Server Time (Friday)
Please note the times of certain instruments may vary, all trading times can be found in our product specifications.
The table below outlines the dates on which the server time is changed to reflect daylight savings each year.
Year DST Commencement Date DST Ending Date
2018 11th March 4th November
2019 10th March 3rd November
Daylight saving time begins at 2 am on the second Sunday in March and ends at 2 am on the first Sunday in November.
• Opening time: 01:00 MetaTrader 4 Server Time
• Closing time: 23:57 MetaTrader 4 Server Time
- Bank / Wire Transfer
- Credit Card
Our funding page provides further information about each method that we offer.
Domestic wire transfers and Bpay normally take one to two business days. For international bank transfers, please allow up to three to five working days.
Once your on-line application form has been approved by our accounts team you will be emailed your trading account login details and password.
Identification must be provided in the form of photo ID and proof of address to verify your identity.
• Must be clear and visible
• Must be issued by a government agency
• Name, Signature and Expiry Date must be clear
Proof of Address
• Must not be older than 3 months
• Must show the same name and address as your account application
Our anti-money laundering policy contains further information regarding our identification requirements.
Questions about the Forex Market
In this example Mary deposits $5,000 into her forex trading account and nominates the leverage on her account to be 1:100. As a result of leverage Marys buying power on her $5,000 deposit becomes $500,000. Mary decides to BUY 0.1 lots of the AUD/USD par at a price of 0.99802, 3 days later the price of the AUD/USD is 1.04069 and Mary decides to close her position. Marys profit is calculated as (1.04069 – 0.99802) 426 pips. As Mary opened a position of 0.1 lots Mary made a profit of $426 or $1 per pip.
Of course should the AUD/USD moved against Mary below the opening price of her trade to a level of 0.97802 Mary would have incurred a loss on the trade of (0.99802 – 0.95542) 426 pips. As Marys positions size was 0.1 lots Mary would have incurred a loss of $426 or $1 per pip.
Understanding MetaTrader 4 problems
Questions about Trading Forex Online
Margin is calculated using the following formula:
Margin required = (current market price x Volume) / Account leverage
In practice this would be calculated as follows:
If open a position of 0.1 (10000) in EUR/USD at the current market price of 1.35645 and your account has a leverage of 1:400 you would calculated the margin required as follows:
(1.35645 x 10000) / 400 = $33.91
In this example the margin on this position would be $33.91, therefore in order to open a positions of this size you would require at least $33.91 in free margin in your trading account.
The margin stop out level is calculated using the following formula.
Margin level = equity / used margin x 100%
= margin level %
The margin on a $10,000 USD (equity) trading account with 1 standard lot open position on USD/JPY and 100 times leverage would be calculated as follows:
= 10,000 / 1,000 x 100%
= 1000% margin level
If the position moves against you and your equity fell to $5,000 the calculation would be:
= 5,000 / 1,000 x 100%
= 500% margin level
If the position moved against you even further and the equity fell to $499 the position would be stopped out as the margin level would have fallen below 100%.
= 499 / 1,000 x 100%
= 49.9% margin level
If Margin Level, falls below Smart Stop Out Level then positions will start being closed partially until Margin Level reaches above Smart Stop Out. The logic of Smart Stop Out will only close what is absolutely necessary from the largest position in order to safely restore Margin Level and protect the position itself, the position entry point and the trading account for as long as possible.
Read more information here: http://www.icmarkets.com/ctrader-smart-stop-out/
By way of example if you BUY 1 standard lot or 100,000 units of EUR against USD you are entering into a ‘long’ position. If on the other hand you sell 1 standard lot of 100,000 units of AUD against USD you are entering into a ‘short’ position.
Events such as markets gapping over the weekend or on major holidays where liquidity is thin can increase the chance of your positions being stopped out and a negative equity situation occurring We advise that you use stop loss orders to limit your risk and you monitor the margin level in your account regularly. You will be responsible for any negative balance in your trading account.
The following link provides some useful information regarding this:
Stop Loss orders when triggered enter the market as market orders, therefore their is no guarantee that your order will be filled at the price you place your stop loss.
The instructions below explain how a ping test can be conducted
Step 1 : On your computer go to the start menu and type 'CMD' in the 'search programs and files' feild.
Step 2 : Type in the word 'ping' followed by a blank space and the IP address of the server you wish to ping.
Step 3 : The bottom line on the resulting output will show in milliseconds the minimum, maximum and average time it too to send and receive data from your computer to the server.