When withdrawing funds from your Finbitex account, a minimum withdraw amount of $50 is required. Additionally, the minimum withdrawal amount for wire transfers is $100.
A financial professional who has expertise in evaluating investment opportunities and puts together buy, sell, and hold recommendations for clients.
The price at which an investor can buy an asset in the financial markets. The asking price is a part of the formula that is used to calculate the expiry level of an instrument.
The price for which the market maker will sell the base currency.
Underlying assets are used in derivative trading to describe an asset whose price can be derived from a different asset. Derivatives are exchanged for cash and therefore do not require an exchange of the physical asset. Underlying assets refer to a contract based on the price of these assets but without requiring its exchange or even ownership.
The price for which the market maker will sell the base currency.
Commodities - Gold, Silver, Oil, etc.
Indices - NASDAQ, Dow Jones, DAX 30, etc.
Stocks - Amazon, Facebook, Google, etc.
Currencies - USD/CAD, EUR/GBP, AUD/USD, etc.
Funds available for trading (unattached to any position yet).
The amount of money held in your account excluding profits and losses of currently open positions.
The first currency in a currency pair. It represents how much the base currency is worth when measured against the other currency. For instance, if the EUR/USD (Euro/US Dollar) rate is equivalent to 1.07555, then one Euro is worth 1.07555.
Describing a market in which there are few buyers and many sellers. A bearish market occurs due to declining prices, and is sometimes associated with high trading volume.
The price for which the market maker will buy the base currency.
A written and signed promise to pay a certain sum of money on a certain date, or on fullfillment of a specified condition. All documented contracts and loan agreements are bonds.
Describing a market in which there are few sellers and many buyers. A bullish market occurs due to rising prices, and is sometimes associated with investors confidence.
A contract for difference is a type of derivative instrument that gives exposure to the change in value of an underlying asset. It allows traders to leverage their capital and provides all the benefits of trading on underlying assets without actually owning them.
Exposure to a financial contract, such as currency, that no longer exists.
The standard unit of Forex trading.
A digital currency, such as Bitcoin, in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
A government-issued statistic that indicates current economic growth and stability. Common indicators include NFP (Non-Farm Payrolls), GDP (Gross Domestic Product), Monetary Policy Statements, etc.
Your account balance, including profit and loss of all open positions.
The Net Exposure (%) covered by your equity.
The simultaneous buying of one currency and selling of another. The global market for such transactions is referred to as the FX or Forex market.
The macro economic factors that are accepted as forming the foundation for the relative value of a currency. These include inflation, growth, trade balance, government deficit, and interest rates.
A method of evaluating a security by utilizing economic, financial and additional factors. The goal is to analyze all the factors that can affect a security, such as overall economic conditions, industrial environment and company-specific factors.
A type of limit order that is active until it is filled or canceled. As opposed to a day order, a GTC order can remain active for an indefinite number of trading sessions.
A position or a combination of positions that reduces the risk of your primary position.
An If Done Order actually consists of two orders: a primary order that will be executed as soon as market conditions allow it, and a secondary order that will be activated only if the first order is executed.
A corporate entity which introduces accounts to a broker in return for a fee.
A private company’s initial offer of stock to the public.
Statistics that are considered to predict future economic activities.
The ability to hold an investment position of greater value than your equity. When leveraging your investment, you simply deposit a part of the current value of the asset you are investing in.
Limit orders are commonly used to enter a market and to take profit at predefined levels. Limit orders to buy are placed below the current market price and are executed when the ask price hits or breaches the price level specified. Limit orders to sell are placed above the current market price, and are executed when the bid price breaches the price level specified.
A position that appreciates in value if market price increases. This position is usually taken with the expectation that the market will rise.
Amount currently used to maintain your open positions. In order to keep your open position/s active, ensure that your equity exceeds the maintenance margin level. Otherwise the position will automatically close.
When your equity falls below the required Maintenance Margin, you are subject to a margin call to remedy the situation. To avoid having your positions closed for you (being stopped out), you must either close or reduce open positions, or send additional funds to cover your positions.
The percentage (of the 100% equity) you are currently using in your open positions. Margin usage = (Used margin/Equity) x100.
For example, if your usable margin is $5000, in order to trade safely you need to limit your margin usage for each trade to a maximum of $250.
A market maker is a broker/dealer firm that assumes the risk of holding a certain number of shares of a particular security, in order to facilitate the trading of that security.
An order to buy or sell at the current price.
The sum of all your open positions currently traded on the markets.
An order that will be executed when a market moves to its designated price.
An active trade with corresponding unrealized P&L, which has not been offset by an equal and opposite deal.
Your total Profits and losses in all open positions.
The order execution tool allows you to determine how your trades will be executed. Since market prices vary, some trade requests don’t receive an approval. And thus, we are thrilled to introduce an additional execution type that ensures your orders are always approved at the best current available price.
A trade that remains open until the next business day.
The quotation and pricing structure of the currencies traded in the Forex market when matching one currency against the other.
The smallest price change that a given exchange rate can make. Since most major currency pairs are priced to four decimal places 0.0001, the smallest change is that of the last decimal.
A collection of investments owned by an individual.
An investment in an asset. For example, when you trade (say, BUY) USD/JPY, you open a USD/JPY position the minute you click the INVEST button.
The difference between the cost price and the sale price, when the sale price is higher than the cost price.
An indicative market price, normally used for information purposes only.
When a price is trading between a defined high and low, moving within these two boundaries without breaking out of them.
A price that may act as a ceiling. The opposite of support.
Exposure to uncertain change, most often used with a negative connotation of adverse change.
The employment of financial analysis and trading techniques to control exposure to various types of risk.
When a position is held at the end of a business day, it rolls over to the next value date and becomes subjected to a swap charge or credit, based on the interest rate ratio between the two trading currencies. Rollover/swap rates are calculated in points, and are automatically converted into the account base currency.
Taking a short position in expectation that the market is going to go down.
An investment position that benefits from a decline in market price. When the base currency in the pair is sold, the position is said to be short.
The difference between the bid price at which you can sell the trading asset and the ask price at which you can buy the trading asset.
This is a stop order placed to buy above the current price, or to sell below the current price. When a stop order is executed, it becomes a market order and is filled as soon as possible at the price obtainable on the market.
This is a stop order that will execute and close a position to limit losses in case of an adverse market movement. When a stop order is executed, it becomes a market order and is filled as soon as possible at the price obtainable on the market. Note that this price may differ from the price you set for the order (Slippage).
A technique used in technical analysis that indicates a specific price ceiling and floor at which a given exchange rate will automatically correct itself. The opposite of resistance.
A currency swap is the simultaneous sale and purchase of the same amount of a given currency at a forward exchange rate.
A method of evaluating an asset by studying statistical data related to its historical performance, such as past prices and volume. Charts and graphs, in addition to other research tools, are utilized to identify any possible patterns that may be indicators of future activity.
An acronym for “Take Profit”. Refers to limit orders that look to sell above the level that was bought, or buy back below the level that was sold.
The number of units of product in a contract or lot.
Each asset has its own trading hours and/or trading days; in addition to holidays.
Refers to the movement of a price over a period of time; as the time period of a price movement extends in a continuous direction, it reflects a hype-a trend. Recognition of a trend allows traders to make informed decisions based on the probability of the future direction of assets.
The total money value or volume of all executed transactions in a given time period.
How to win the challenge
Contest participation is absolutely free for all cointeck traders. Once your trading account has been funded, you immediately qualify for automatic entrance. The trader with the highest contest score wins. The contest score is compiled from the total amount of your closed trades multiplied by your account type weight.
Therefore, the more you’ll trade - the greater your winning chances are!