FOGO

Service and Support

Common Business Issues

Q: How do I set up a trading account?

A: Creating an account is easy and fast. Click on Create Live Account, fill out the form and you will receive the login information in your email inbox immediately after completion.

Q: Do you offer managed accounts? If so, what is the minimum deposit and fees?

A: We do not offer managed accounts at the moment, we are working on developing this service. But we have a multi-account management system, so if you are a veteran trader or have your own money manager, we will give you the best possible service.

Q: Can I change the base currency of my account?

A: Sorry, no, all our bids are settled in USD transactions.

Q: Are my funds safe?

A: We ensure the safety of your funds through the US Financial Instruments Market Regulations. Client funds are segregated and held in a separate segregated client account at the firm. These funds cannot be paid to creditors or repaid to the company for any debts or expenses. Bank Accounts We operate under the organization of U.S. financial institutions to maintain our clients' accounts. The Investment Compensation Fund (ICF) will ensure that the firm can compensate all clients in the event of bankruptcy or failure to meet commitments. The cost of this compensation will be determined based on the client's general statement level.

Q: When can I trade?

A: As soon as the account is funded, it is ready for trading. Log in to Service & Support, click on Deposit in the main menu, select your preferred deposit method, follow the instructions provided, and confirm your payment.

Q: What is the spread you offer?

A: We offer floating spreads as low as one point. No double quotes: clients enjoy the most direct market prices. You can learn more about spreads here. (Hyperlink - Price Advantage)

Q: What is the leverage you offer?

A: We offer leverage of 1:400

Q: What is Margin/ Margin Ratio/ Available Margin?

A: Margin can be considered as the actual deposit required to maintain an open position. : Contract size/leverage. For example, if you trade a standard lot of EUR/USD (let's assume its exchange rate is 1.4300) and the base currency of your account is USD and your leverage is 1:500, the margin is: 100,000/500 = $200 EUR and the current exchange rate is 1.4300, then the conversion to USD will appear in your account as $286 USD. The Margin Ratio is a formula of Equity / Margin X 100%. If you have a standard account and the margin ratio drops to 50%, your position will be closed automatically.

Q: How is the margin calculated?

A: Forex margin is calculated as follows: Margin = [number of lots * (contract size / leverage)] * opening price, in a standard account the contract size is 100 000 units for all Forex currencies. For example, if the base currency of your trading account is USD, the leverage is 1:500 and you trade 1 lot of European and American pairs at 1.40000, the margin is calculated as follows: (1 * 100 000/500) * opening price = 200 EUR * 1.40000 = 280 USD EUR is the main currency in European and American currency pairs, and since your account is in USD, the system will automatically convert 200 EUR into 280 USD. You will have a margin of 280 USD in your account.

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Risk Warning : Trading CFDS on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. There is a possibility that you may sustain a loss of some or all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.