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General

Who is Optimus FX?

Optimus FX is an introducing broker to IC Markets. Your forex account is held and maintained at IC Markets who serves as the clearing agent and counterparty to your trades. IC Markets is licensed and regulated by the Australian Securities and Investments Commission (ASIC) with AFSL number 335692. Optimus performs all the functions of a broker including phone support, account set up and maintenance, platform support and technical troubleshooting. Our clients are encouraged to reach out to us for any issues related to their account and we will be more than happy to assist you or point you in the right direction.

Who is IC Markets?

IC Markets was incorporated in Sydney, Australia in 2007 by a team of professionals in the financial services industry who were instrumental in the success of one of Australia’s largest CFD and Forex providers. IC Markets goal is to bridge the gap between retail and institutional clients offering a trading solution previously on available to Investment banks and high net worth individuals. IC Markets True ECN account was born, providing superior execution technology, lower spreads and unrivalled liquidity. With a license and regulation from ASIC, one of the strictest and most demanding financial regulators, traders can feel completely confident. IC Markets complies with ASIC capital adequacy requirements and conducts ongoing compliance audits of internal procedures and risk management.

Where is my money held?

IC Markets holds client money in Segregated Client Trust Accounts at Westpac Banking Corporation and National Australia Bank (NAB). Both banks are AA rated Australian banks.

Deposits and Withdrawals

How do I deposit money into my trading account?

Clients can deposit funds in multiple ways, including:

  • Bank / Wire Transfer
  • Credit Card
  • Skrill
  • Webmoney
  • Neteller

Our funding page provides further information about each of the 10 funding methods we offer.

How long does it take for funds to appear in my live account?

Credit card, Skrill and Webmoney deposits are usually applied within 30 minutes. Domestic wire transfers and Bpay deposits are processed overnight. International wire transfers can take up to 3-4 days.

How do I withdraw money from my trading account?

For faster processing all account holders are now required to submit withdrawal requests from inside their Secure Client Area.

Can I withdraw more than my initial deposit by credit card?

Yes, you are able to withdraw more than your initial deposit will be paid back to your credit card however you must provide your full credit card number to our accounts department in order for us to do so.

Opening an Account

What is the minimum amount needed to open a trading account?

We require a minimum deposit of $200 USD or currency equivalent.

What leverage do you offer?

We offer flexible leverage options ranging from 1:1 to 1:500.

Can I have multiple trading accounts?

Yes

How many currency pairs do you offer?

We offer 60 currency pairs and 4 metals.

How many CFDs do you offer?

We offer 13 index CFDs in addition to Brent and WTI.

How do I open a live trading account with Optimus FX?

Opening an account is simple. Click on the Open a Live Account link and complete your application form.

Once your on-line application form has been approved by our accounts team you will be emailed your trading account login details and password.

What documents do I have to provide to open a live trading account?

Under the Australian Anti-Money Laundering and Counter Terrorism Financing Act 2006, we are required to verify your identity client before opening they open a trading account.

Identification must be provided in the form of photo ID and proof of address to verify your identity

Photo ID

  • 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.

Do I earn interest on funds deposited into my live trading account?

No, we do not pay interest on account balances.

Do you accept US Clients?

Optimus FX and IC Markets do not accept US clients.

Do you offer deposit bonuses?

No.

What are the fees and commissions for trading with Optimus FX?

We offer two account types, a standard account and our market leading True ECN account. We do not charge a commission on standard accounts but mark up the spread by 1 pip above the interbank rate received from our liquidity providers. Our True ECN account shows the raw interbank spread received from our liquidity providers and we charge a commission of $7 per standard lot round turn.

How do I generate account statements?

You can generate account statements from within the trading terminal by selecting the history tab. Right clicking within the history area will open a new tab from here you will be able to select the time period of the statement that you wish to generate. Right clicking again with provide you with the option to save the report to disk or in HTML format for viewing in a web browser.

Trading

Is Scalping and Hedging allowed?

We encourage scalping and hedging. Our spreads and trading conditions are the preferred choice of many day traders and scalpers globally.

If I stop trading will I be charged an inactivity fee?

No you will not be charged any account inactivity fees.

Are Demo Accounts the same as Live Accounts?

Both Demo and Live accounts have the same price feed, however it is not possible to replicate a real trading environment on a Demo account due to technical limitations. Trades placed on demo accounts are not passed into the real market and therefore their execution will not directly comparable to trades placed on a Live account. Demo trading accounts are designed to allow traders to become familiar with the trading platform itself and will never be able to provide an identical trading experience to a Live account.

What is the minimum lot size that I can trade?

We support the trading of Micro lots. A micro lot in MetaTrader 4 is represented as 0.01 which is equivalent to 1000 units of the base currency.

How do I place trades over the internet?

Trading over the internet on the world’s most popular trading platform MetaTrader 4 is easy. Once you have downloaded and installed the trading platform simply login and double click on an instrument in the market watch screen. In the order ticket that appears enter your desired trading volume then click on ‘buy market’ or ‘sell market’ a market execution order will then be processed. The MetaTrader 4 platform will automatically fill your order providing there are sufficient funds in your trading account. Your open position will appear in the trading terminal and the profit / loss and margin will be calculated in real time according to price movement.

What does margin mean and how is this calculated?

Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account. If you do not have sufficient free equity available you will be unable to open a position on the trading platform. The free margin amount shown in the trading platform is the amount you have available to use should you wish to open additional positions.

Margin is calculated using the following formulae:

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.

Can I set pending orders in the MetaTrader 4?

MetaTrader 4 allows pending orders to be set. Pending orders are stored on the trade server and are executed when the conditions set are met.

Does MetaTrader 4 have trailing stop orders?

MetaTrader 4 allows trailing stop orders to be set from within the trade terminal.

What happens if I have no free margin left in my account?

If you have no free margin your positions will be stopped out, in certain circumstances your account balance can become negative should the loss on the positions stopped out exceed your account balance.

What is the margin call level?

Margin call level is 100%. This means that you will receive a margin call when your Equity is 100% of the margin required on your open positions. Equity is calculated as (Balance + Open Profit/Loss).

What is margin stop out level?

Margin stop out level is 50%. This means that if your Free Margin falls below 50% then your positions will be automatically closed. MetaTrader 4 will automatically close in order of the largest loosing position to the smallest.

The margin stop out level is calculated using the following formula.

Margin level = equity / used margin x 100%M
= margin level %

Worked example

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

What is cTrader Smart Stop Out?

The Smart Stop Out logic in cTrader has been designed to provide maximum protection to trader’s accounts. This logic will replace cTrader’s Fair Stop Out logic because it provides significant benefits for users by using a much more advanced algorithm.

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/

What does the deal confirmation window mean?

The deal confirmation screen displays a summary of the order that you have placed including the order number, quantity (volume) and price the order was filled at. The date and time the order was placed is displayed in the trade window.

How do I see my account balance in MetaTrader 4?

MetaTrader 4 has a real time position keeping feature where you are able to see your account balance, Equity, Margin and Free Margin in real time in addition to the profit or loss on any open positions. This is information can be found in within the trade tab inside the terminal section of the platform. Your account history can be found under the history tab in the same area.

Can I lose more than my initial deposit when trading forex?

Both our MetaTrader 4 and cTrader platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level). This process is automated and is not a guarantee that your account will not enter into a negative equity situation. We recommend that you always maintain a balance in your account over and about your required margin. If the stop level is reached a market order is triggered to close your open positions at the next available price in the market.

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.

How long can I keep my positions open for?

You can keep your positions open for an indefinite period of time.

Can I log into multiple accounts from the same computer?

Yes, as long as you have an instance of MetaTrader 4 installed for each login.

Can I log into my account simultaneously on separate computers?

Yes, it is possible to log into your MetaTrader 4 account with the same username and password at the same time on separate computers.

Can I use the MetaTrader 4 trading platform on an Apple Mac?

Yes, you are able to use the MetaTrader 4 trading platform on an Apple Mac, however you must install parallel operating systems.

What is your policy regarding slippage?

Slippage is an inherent part of financial markets. Whether you are trading Stocks, Futures, Commodities or Forex you will be subject to slippage. When you place a market order you are requesting your order to be filled at the currency market price however if the market has moved between the time you place your order and the time it has been filled your order may be filled at a different price. Slippage can increase when markets become volatile such as over new periods, you should keep this in mind when trading outside of normal market conditions.

Stop Loss orders when triggered enter the market as market orders, therefore there is no guarantee that your order will be filled at the price you place your stop loss.

How do the charts on MetaTrader 4 work?

The charts on MetaTrader 4 reflect the "Bid" price only, the "Ask" price is not shown on the charts. You can however draw an "Ask" line on the charts by clicking on the chart and selecting 'show ask line', this will result in an estimation of the "Ask" price which is based entirely on the spread. You should bear this in mind when conducting any historical analysis using the charts available in MetaTrader 4.

Where are your trading servers located?

Our partner IC Markets have servers located in the Equinix NY4 data centre, New York.

How do I test the latency from my computer to the MetaTrader 4 trade server?

The latency from your computer to IC Markets trade servers can be tested by conducting a ping test.

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.

How do I Trade Cryptocurrency:

1. Open a Live Trading Account

2. Fund your account with the minimum deposit ($200)

3. Download and login to our MT4/MT5 platform

4. Look for the security type "Cryptocurrency"

Cryptocurrency trading is subject to high volatility, please ensure you have sufficient funds to withstand any adverse market movements that may affect your trading account

CFD’s

What time does the CFD market open?

CFDs opening times reflect the market hours of the underlying instrument over which the CFD is based. Please refer to IC Markets CFD product specification sheet which details the opening hours of each CFD contract.

What are the fees, commission for trading CFDs with IC Markets?

We do not charge any additional fees or commission for CFD trading.

What are the margin rates of the CFDs at IC Markets?

The margin rates of each CFD contract vary and are dependent on the CFD contract traded. Typically the margin rates will vary from 0.5 – 1%.

Do CFD contracts have a minimum trade size?

CFDs do have minimum trade size. The minimum trade size is 1 CFD contract.

How are CFD prices calculated?

Our CFD prices are calculated based on the price of underlying instrument with an adjustment made for fair value. Fair value is equal to the spot price after taking into account compound interest and dividends.