Top of book refers to the highest bid and lowest ask price of an instrument. These are reflected on the MT5 market watch.

Forex refers for Foreign Exchange and is the term used to describe the value of one currency in relation to another. Forex trading is the simultaneous buying of one currency and selling of another. The price of currencies is floating and dependent on supply and demand. Foreign exchange is always traded in pairs, for example EUR/USD or AUD/USD.

A CFD (contract for difference) is based on an underlying financial instrument and allows an investor to experience all the benefits and risks for owning the underlying security without actually owning it. Thus, when a Client decides to open a buy position on a CFD on shares, for example Apple, he is not actually buying shares in Apple Inc, he is just speculating on the future price movement of the share CFD.

A trailing stop order lets you track the price of a stock before triggering a market order if the stock reaches the trailing stop price. Investors often use trailing stop orders to help limit their maximum possible loss or as part of an exit strategy.

With a trailing stop order, the trailing stop price follows, or trails, the price of the stock by a trail that you specify. If the stock’s price moves in a favorable direction, the trailing stop price will move with the stock. If the stock’s price moves in an unfavorable direction, the trailing stop price will stay the same.

If the stock’s price reaches the trailing stop price, a market order is triggered and is executed at the best price currently available.

Trading with CFDs (Contracts for Difference) is possible through the use of leverage which allows you to purchase more units of your desired instrument than your available funds or initial deposit would allow you to. Leverage can also be viewed as how many times you can multiply your initial deposit or available funds to this instrument.

Example:

If you have deposited 100 USD in your account and you wish to trade with an instrument with leverage of 1:10, you can open a position of up to 100 * 10 = 1000 USD in value.

In forex trading, the term "pip" is commonly used to represent the smallest price movement in an exchange rate. The word "pip" stands for "percentage in point" or "price interest point," and it is typically used to denote a one-unit movement in the fourth decimal place of a currency pair. some currency pairs, particularly those involving the Japanese Yen (JPY), are quoted to two decimal places. In these cases, a pip is the equivalent of a one-unit movement in the second decimal place.

In recent years, some brokers have started quoting currency pairs to a fifth decimal place, known as a fractional pip or "pipette." This additional decimal place allows for more precise pricing and smaller price movements, which can be especially relevant in high-frequency trading or for traders looking for very small price changes.

1 pip = 10 points

Thus a point is 1/10th of a pip.

For example:

Standard currencies Silver, JPY

Price format EURUSD: 1.12345 USDJPY: 113.115

Pip 4th decimal 2nd decimal

Point 5th decimal 3rd decimal

Pip size 0.0001 0.01

The spread is the difference between the Ask and Bid prices on a trading platform.

The spread value is shown in points, which is a term used to describe the price changes of an instrument.

Example:

if the Bid price is 1.11110 and the Ask price is 1.11125, the spread would equal 0.00015 or 15 points (1.5 pips).

Margin is the minimum amount of money you need to have in your trading account to open new or maintain existing positions on the market.

It is denominated in the base currency, and in cases where the account holds a different currency, an automatic conversion will take place.

Margin = price*contract size * lots*margin requirment

Margin level = (Equity/Margin) x 100%.

A free margin is the amount of funds you have available in your trading account that can be used to open more positions or cover losses of open positions.

Free Margin = Equity – Margin.

Equity = Balance + Unrealized P&L

Example:

You have a trading account with EUR 1000 in it.

Your open positions require a margin of EUR 300. The total unrealized profit made by these positions is EUR 200.

Balance = EUR 1000

Equity = 1000 + 200 = EUR 1200

Free Margin = 1200 - 300 = EUR 900.

Swap is an interest applied each day to orders open overnight until the order is closed. Depending on the day and trading instrument, swap can be applied as standard, triple or not applied at all.

Swap formula:

Swap charge = number of lots × contract size × point value × swap rate x conversion rate

Swaps Value For Indices = (Market Price x Swap Rate / 100 /360) x Conversion Price x number of lots x contract size

*Swap value is calculated in terms of the Quote, and then it will be converted based on the account currency offered by the company

Example:

Lots = 1 EURUSD

Contract size = 100,000

Point value ( is derived from the current digits of the asset, in this example, the digit is 5 = 0.00001

Pip value = 1 x 100,000 x 0.00001 = 1

Swap rate long = -3.718000

Account currency: GBP

Conversion rate: 0.78

Swap = -3.718000 x 1 = -3.718000 USD

Swap Acc currency = -3.718 x 0.78 = -2.9 GBP

Lot is a standard unit size of a transaction of an instrument. The worth of 1 lot depends on the contract size of an instument.

Contract size is a fixed value which denotes the amount of base currency in 1 lot. It varies based on the trading instrument.

For example

Forex -> 100,000 units

Indices -> 1, JPN225 -> 100

Energies -> 1000, XNGUSD -> 10000

Metals -> 100, XAGUSD -> 5000 ounces

Shares -> 1

Balance is the financial outcome of all completed transactions including deposit/withdrawal operations on a trading account.

Example:

You open a trading account and deposit EUR 1000 into it. This is your starting balance.

You trade and close three orders - one with a profit of EUR 200 and the other two with a total loss of EUR 100 .

Your balance = 1000 + 200 -100 = EUR 1100.

Note that your balance will remain uneffected as long as the trades remain open. The realised balance will be updated as soon as a position closes; becomes realised.

The balance is also subject to the impact of commissions, swaps, and dividends, if applicable.

Equity is a figure that denotes the results (profit/loss) of all the open orders, i.e., reflects the amount of funds that will remain in the account if the trader closes all the open orders at the moment.

Equity = Balance +Credit + Floating P&L + Swaps

Equity = Margin + Free Margin

When engaging in CFD trading (Contracts for Difference), traders have the opportunity to speculate on the price fluctuations of an instrument over time. In such instances, the price of an instrument can either decrease or increase. If you anticipate a decline in the price of a specific instrument, you can initiate a short position by "selling." Conversely, if you predict a price increase, you can open a long position by "buying.

Exotic currency pairs are made up of one major currency paired with any other less popular currency.

These pairs are not as liquid, and the spreads are much wider.

Examples of these include SEKJPY, GBPNOK, EURMXC, and more

Currency pairs not linked to the U.S. dollar are termed minor currencies. While these pairs exhibit slightly broader spreads and are less liquid compared to majors, they still constitute adequately liquid markets. Examples of these include EUR/GBP, GBP/JPY, and EUR/CHF.

These currency pairs are based on a list of popular currencies that are paired with USD. The basket of major currencies consists of 7 pairs.

EURUSD

GBPUSD

AUDUSD

NZDUSD

USDCAD

USDCHF

USDJPY

Negative Balance Protection (NBP) guarantees that regardless of the extent of trading losses, a trader will never incur a debt; losses are confined strictly to the balance of the trading account, and no further.

Slippage is the difference between the expected price of an order and the price at which the order is executed.

Slippage occurs during a period, maybe due to market-moving news, that makes it impossible to execute trade orders at the expected price. In this case, forex traders will likely execute trades at the next best asset price unless there is a limit order to stop the trade at a particular price.

Hedging is an account type where you can hedge positions, and there is no limitation to the number of positions you can hold for the same symbol at the same time.

If you have an open position for a symbol and execute a new deal (or a pending order triggers), a new position is additionally opened. Your current position does not change.

Netting is an account type where you can not hedge positions, but all your orders for the same symbol will be managed in one position.

Thus, if you open an extra open position for the same symbol for which you already have an existing open position, the new position will be added to the existing position, and it will either increase or decrease the trading volume and the opening price.

When a company earns profits, it can reinvest them in the business, pay down debt, or distribute them to shareholders as dividends. Dividends are a portion of profits given to shareholders to return value. For CFDs on Cash Indices and Stocks, dividend adjustments are shown in the client's account as "ADJ/Dividends/Symbol" on the ex-dividend date.

The ex-dividend date is the cutoff date for determining which shareholders are eligible to receive the next dividend payment. If you purchase a stock on or after this date, you won't receive the upcoming dividend; the dividend goes to the seller of the stock. The ex-dividend date typically occurs one business day before the record date, which is the official date the company uses to identify shareholders who are entitled to the dividend.

Stop out is the automatic closing of orders when the margin level drops to the indicated stop out level in percentage. If you are uncertain about your account's stop-out level, please contact customer service for assistance.

A Stop Out Level is when your Margin Level falls to a specific percentage (%) level in which one or all of your open positions are closed automatically.

Trading volume is calculated using the following formula:

Trading volume Forex = Number of lots x contract size

Trading volume Non Forex = Number of lots x contract size x Market Price

Trading volume is always calculated in the base currency.

Example:

A client placed an order to sell 2 Lots EURCAD.

Trading Volume = 2 * 100,000 = 200,000 EUR

Futures contracts, such as Oil and Gas, have expiration dates. As soon as it reaches its expiry date, all open positions and orders will be automatically rolled over to the next one.

The rollover is the process of keeping the position open after the expiry date to the new contract.

Volatility refers to the extent and frequency of price fluctuations. A market is considered more volatile when price swings are larger and occur more frequently.

Various factors, such as political, economic, and social events, contribute to price volatility. Traders should stay informed about current events and stay updated on financial news to identify potential profit opportunities and mitigate potential losses.

A chart pattern is a recurring set of price actions. The premise behind chart pattern analysis is that by understanding the outcomes following a pattern in the past, one can make an informed speculation about potential outcomes when the pattern reoccurs. It's important to note, however, that past performance does not guarantee future results.

Common types of chart patterns

Continuation Patterns:

These patterns suggest that the current trend is likely to persist.

Reversal Patterns:

These indicate that a trend is about to change its direction.

Bilateral Patterns:

These patterns suggest that the market could move in either direction due to increased volatility.

The base currency is the first currency listed in a currency pair. It is the currency against which the exchange rate is quoted. For example, in the currency pair EUR/USD, the euro (EUR) is the base currency, and the U.S. dollar (USD) is the quote currency.

A trailing stop is an order type designed to lock in profits or limit losses as a trade moves favorably.

Trailing stops only move if the price moves favorably. Once it moves to lock in a profit or reduce a loss, it does not move back in the other direction.

A trailing stop is a stop order and has the additional option of being a limit order or a market order.

One of the most important considerations for a trailing stop order is whether it will be a percentage or fixed-dollar amount and by how much it will trail the price.

A Stop Loss (SL) serves as an instruction to close a trade at a specified rate, with the aim to add protection to your investment and prevent from additional losses. If the market reaches your requested rate and you have lost the predetermined amount, the Stop Loss will trigger and automatically close your position. You have the flexibility to set your Stop Loss based on a specific market rate or as points, with the option to adjust it at any time while the trade is open. It's important to note that, under normal market conditions, the set Stop Loss is not guaranteed. During market volatility, the requested Stop Loss rate may not be available, leading to its triggering at the next available rate.

You can set up your Stop Loss when a new order is created or throught the position modification dialog

A Take Profit (TP) serves as an instruction to close a trade at a specified rate, securing profits when the market moves in your favor. If the market reaches the designated rate, triggering the predetermined profit amount, the Take Profit will automatically close your position. You have the flexibility to set your Take Profit based on a specific market rate or as points, with the option to adjust it at any time while the trade is open. It's important to note that, under normal market conditions, the set Take Profit is not guaranteed. During market volatility, the requested Take Profit rate may not be available, leading to its triggering at the next available rate.

You can close the order directly by clicking the '×' icon on the right side of the 'Trade' column in the Toolbox. Alternatively, in the Toolbox section of your MT5, right-click on any order you want to close, and then select Close Position from the options that appear.

To generate a report on your trading history, just follow the steps below:

Go to the ‘Toolbox’ on MT5

Go to "History" tab. Right-click and select ‘Custom Period’ to set the timeframe for your report.

Right-click on ‘Report’ and save it on the format of your preference.

To change language on your trading terminal, just follow the steps below:

1. 1. Open your terminal and click on ‘View’ from the top menu
2. 2. Select ‘Languages’ and click on your preferred language

You can view your trading history on your MT5 but you cannot export it. However, if you wish to receive your trading account statement as a document, please send us an email at [email protected]

To add charts to your trading terminal, just follow the steps below:

1. 1. Right-click on the symbol you wanted to trade from the ‘Market Watch’ window
2. 2. Choose ‘Chart Window’

Alternatively, you can drag-and-drop any symbol directly into the chart window.

By enabling one-click trading, you can open positions with a single click. Closing positions, however, still need to be done manually.

To enable one-click trading, just follow the steps below:

1. 1. Right-click on any chart
2. 2. Select ‘One Click Trading’

Alternatively, you can enable it by pressing Alt+T on Windows computers.

To view the current spreads in the ‘Market Watch’ window, just follow the steps below:

1. 1. Open your MT5 terminal
2. 2. Right-click on the ‘Market Watch’ window
3. 3. Select ‘Columns’ and click on ‘Spreads’

* The displayed Spread on the market watch is based on top of the book (TOB) prices.

No, they will remain on the platform and appear the next time you log in.

This applies to all order types except trailing stops, which become inactive when you go offline or log out of MT5.

Expert Advisors (EAs) also become inactive on the platforms when you log out or go offline.

To change the chart timeframe on your trading terminal, just follow the steps below:

1. 1. Open your terminal and right-click on the chart
2. 2. Click on ‘Timeframe’ and select the one you prefer
3. 3. Alternatively, you can change the chart timeframe from the toolbar at the top of your terminal.

Right-click on the symbol in the market watch and choose specifications. The contract size is indicated on the specification list.

At the end of each month, our clients receive an ex-dividend calendar providing details on the dividends for the upcoming month, including the exact date and payout information.

In addition, you can find the dividend calendar on our website. https://www.empirefx/dividends-calendar

Your dividends can be found under the reports. To generate a report on your trading history, just follow the steps below:

Go to the ‘Toolbox’ on MT5

Go to the "History" tab. Right-click and select ‘Custom Period’ to set the timeframe for your report.

Right-click on ‘Report’ and save it in the format of your preference.

As a retail client, your potential losses are restricted to the funds you initially deposited into your account. This assurance is provided through Empire Fx's Negative Balance Protection, ensuring that in the event your account balance goes below zero, the broker absorbs the loss on your behalf.

Yes, you must have opened a position with the company's instrument before the ex-dividend date and held it at its beginning.

CFD dividends will adjust the downward price movement of the respective instrument that always occurs on its dividend ex-date.

Respectively, long positions receive a positive adjustment (funds being added), whereas short positions receive a negative one (funds being deducted).

To calculate the profit or loss for a closed trade, please use the formula below:

BUY Trade: (Close rate - Open rate) x Contract Size x Lots x (exchange rate)*

SELL Trade: (Open rate - Close rate) x Contract Size x Lots x (exchange rate) *

To calculate the profit or loss for an open trade, please use the formula below:

BUY Trade: (Current rate - Open rate) x Contract Size x Lots x exchange rate*

SELL Trade: (Open rate - Current rate) x Contract Size x Lots x exchange rate*

* The above calculation will give the P&L in the quoted currency of the traded symbol. To convert it to the account currency muliply with the exchange rate of the symbol containing the quoted currency and the account currency.

Example:

Direction: Long EURUSD

Lots: 1

Contract size: 100,000

Open price= 1.29888 & Closing price = 1.29905

PL = ( (1.29905 - 1.29888) x 100,000 x 1 x 1 = 17 USD

Orders are never guaranteed because if volatility is high, prices can be missed, and we may not be able to obtain a quote for you at the price you requested. Order are always filled at real market prices. So if the order price is triggered because of a gap (due to news or market opening) the order will be filled at market price and it might deviate significantly from the order price.

We have no restrictions on the number of trades you can execute.

We do not provide account management services. Our offering is an execution-only service, meaning clients are entirely responsible for managing their accounts

A margin call occurs when there is insufficient capital in your trading account to cover potential losses. It serves as an alert or warning from your trading platform that the available funds in your account may soon be inadequate to cover your open positions.

The available trading platforms are:

MT5 Desktop

Click to download the terminal https://download.mql5.com/cdn/web/empire.fx.trade/mt5/empirefx5setup.exe

Once the download is complete, please run the .exe file

Fill in your login details on the first launch of the MT5

Enter your Live or Demo account login credentials

*MT5 credentials and server have been sent to you via email.

MT5 Webtrader

Webtrader is available under the Platforms tab inside your Client portal, or simply click the live web MT5 link http://webterminal.empirefx.com/terminal

Fill in your login details as per the email received.

MT5 Mobile App

Download the app - https://download.mql5.com/cdn/mobile/mt5/ios?server=EmpireFX-Main%20Server

https://download.mql5.com/cdn/mobile/mt5/android?server=EmpireFX-Main%20Server

Enter your Live or Demo account login credentials, as sent to your email.

The time zone of our trading servers is always GMT +2 Winter time and GMT+3 Summer time.

No, you can’t.

yes, you can download MT5 from the following link https://download.mql5.com/cdn/web/metaquotes.software.corp/mt5/MetaTrader5.pkg.zip?utm_source=mt5terminalwww.metatrader4.com&utm_campaign=whatsnew.mt5download

Instructions how to install MT5 on a Mac

Open MetaTrader5.pkg.zip. It will unzip the MetaTrader5.pkg in the same folder as the .zip file.

Open MetaTrader5.pkg and follow the instructions to install it.

Go to Applications folder and open the MetaTrader5 app

Right click on "Accounts", select "Open an Account"

Type the name "Trading Point of Financial Instruments Ltd" and click "Find your broker"

Click Next and select "Connect with an existing trade account"

Enter your login and password

Select the server on which your account is registered from the dropdown menu

Click Finish

Yes MT5 platforms allow you to trade using EAs

Adding an Expert Advisor (EA) to your trading terminal is a straightforward process, but it begins with downloading one. We highly recommend obtaining EAs from the MQL5 site, as these are officially approved by MetaQuotes.

To download an EA, you can either create an account on the MQL5 site or directly download one through MT5 using the 'Market' window.

Follow these steps to add an EA to your terminal:

1. 1. Launch your MT5 client terminal.
2. 2. Click on 'File' in the menu and choose 'Open Data Folder.'
3. 3. Access the 'MQL5' folder and open the 'Experts' folder.
4. 4. Insert the downloaded .mq4 or .ex4 file into the 'Experts' folder.
5. 5. Restart your MT5 client terminal, and you're all set to proceed.

We offer 24/5 trading; the market is closed over the weekend.

To locate the position ID on MT5, follow these steps:

Navigate to the 'Toolbox.'

Select the 'Trade' tab, where the position ID can be found under the 'Ticket' column.

Alternatively:

Go to the 'History' tab.

Right-click and choose 'Custom Period' to set the timeframe for your report.

Right-click on 'Report' and save it in the format of your preference.

There might be various reasons for your pending order not being executed, including:

The order's target price has not been reached.

The pending order is canceled due to the expiration date.

The pending order has been deleted due to insufficient funds."

If you’re unable to log in on the MT5 platform for PC, please try the following:

1. 1. Check that the MT5 ID, password, and server that you enter perfectly match the ones received after registering.
2. 2. Check your internet connection
3. 3. Restart or even re-install your trading terminal/or mobile application in case there is an updated version of the app.

If, after following the steps above, you’re still unable to log in, please email us at [email protected]

If you feel the platform is running slow, you can try the following:

Reinstall the platform

Check your internet connection

Ensure you don’t have too many windows open in the platform

If, after trying all of the above, the platform is still running slow, contact us via Live Chat or send an email to [email protected]

If you’re getting a ‘Not Enough Money’ error, check that there’s enough equity in your account to cover the trade you want to place.

Encountering a "Trading Closed" error indicates that the market is presently closed or undergoing daily breaks. This condition may be relevant for instruments exclusively in close mode, and it restricts the opening or closing of positions during this timeframe.

Public holidays may also affect the trading session. You can view the trading hours for the specific asset through the market watch. Click on your preferred asset, right-click on it, and choose 'Specifications'.

If you encounter the "Invalid Account" error while accessing your trading account, there could be three reasons for this occurrence:

1. 1. Incorrect Trading account number.
2. 2. Incorrect Trading account password.
3. 3. Wrong Trading account server.

To resolve this issue, please ensure that you have added the correct MT5 credentials and server. This information was sent to you via email when the account was initially created. Alternatively, you can find your credentials by logging into your client area. On the Dashboard, go to "Accounts", you can locate your MT5 accounts (demo or live) under "Accounts Overview". To reset the password, click on Change. You'll receive a new email with your new account password.

"Off quotes” error message means that no price is available on the Metatrader platform.

This might have happened due to various reasons:

* During periods of low liquidity.

* The instrument that has been terminated

* Expiry of futures; in such cases, please check for the new contract.

* Internet connection issues

This error occurs when trying to trade an instrument during market closure. Each trading instrument has its own set of trading hours, which may include daily breaks in some instances. Public holidays may affect the trading sessions.

To access detailed information about the trading hours for each asset, navigate to your MT5 platform. In the market watch, click on your preferred asset, right-click on it, and choose 'Specifications.' There, you can view the trading hours for the specific asset.