FAQ

What is forex trading?

Foreign exchange, also known as forex or FX, is the simultaneous buying of one currency while selling another. The forex market is available 24 hours a day, five days a week, and it is one of the largest, most liquid financial markets in the world.

 

What does the spread refer to?

The spread is the difference between the BID and the ASK price. The BID price is the rate at which you can sell a currency pair, and the ASK price the rate at which you can buy a currency pair. With LKM, you can trade a large range of instruments with fixed as well as variable spreads depending on the trading account type selected.

 

Does LKM charge commission?

LKM, won’t charge any commission.

 

What are the trading hours for the forex market?

You can trade forex from Sunday 22:00 UK time (Monday 0:00 EET) until Friday 22:00 UK time (Saturday 0:00 EET). Further details can be found in our MIS sheets regarding trading hours of the individual products offered at LKM.

 

What does “order volume” stand for in a forex trade?

The term ‘order volume’ refers to the number of standard lots you want to trade.
One standard lot equals 100,000 units of the first currency in the pair, i.e. the base currency.
A volume of 0.1 lot equals 10,000 units of the base currency.

 

Do I have to pay tax on my profits?

LKM does not deduct any taxes of your closed out positons. Since tax laws vary from country to country you will need to contact your local tax authorities for further information.

 

 

How can I find the trading symbols on the MT4 platform?

All available trading symbols on your account type are listed in the Market Watch window on the MT4. If this window is not shown you will need to navigate into the menu on the top left corner, selecting View and Market Watch.

 

What types of orders can I place on my MT4 Android app?

You can place market and pending orders on your MT4 Android app.

 

 

What is one click Trading?

The One Click Trading buttons on your MT4 platform will allow you to instantly buy, sell, or close your order at the current market price. Navigate into Tools and Options and select the Trade tab. Tick the box next to ‘One Click Trading’ and accept the Terms & Conditions in the pop-up window before clicking OK.

Do a right-click on the specified chart and select One Click Trading. A little box will appear in the top left-hand corner of the chart letting you Buy or Sell the specified volume.

You can close the order with the One Click Trading function in the Terminal window on the bottom of the MT4 platform. Go into the Trade tab and click on the little ‘x’ on the right-hand side of the active trade (next to the profit or loss of the position). This will close the order immediately.

NOTE: Please be careful and use this additional MT4 platform trading feature only if you are already an experienced trader.

 

 

How can I place an order (a trade)?

Open the New Order window and specify the symbol you wish to place a trade on. Enter the volume, stop loss and take profit if applicable. Select the order type Market Execution or Pending Order before activating Sell or Buy.

If you select the Pending Order you will need to specify the pending order type. In comparison to market orders pending orders will be executed at some point in the future. You can select from four different pending order types.

  • For a Buy Limit the current market has to be offered at, or above, your chosen level.
  • For a Sell Limit the current market has to be bid at, or below, your chosen level.
  • For a Buy Stop the current market has to be offered at, or below, your chosen level.
  • For a Buy Stop the current market has to be offered at, or below, your chosen level.

 

 

How can I close an order (a trade)?

There are different possibilities to close a position.

  • Navigate to the Terminal window into the trade tab and highlight your open position, double click on it and the new order window will appear. Click on the yellow button below Sell and Buy to close out a position.
  • Right click on the highlighted order and select Close Order.
  • If one click trading is enabled you can close a position in clicking on the X on the right hand side of the order line in the Terminal window.

 

What is a VPS?

 

VPS stands for Virtual Private Server, and is a very useful tool for traders that use robots/algorithms to trade on the market. These robots often run automatically and independently from the trader, thus are able to explore trading opportunities that manual traders may not be able to. A VPS provides you with the ideal trading environment to maximize the power of robots through eliminating down time and benefiting from extra fast execution speed.
 

Is it possible to be logged in to several accounts at once?

Yes. Although you cannot be logged in to multiple accounts from one instance of MetaTrader 4, you can open several instances (separate MetaTrader 4 instances running at the same time on your computer) and log in to different accounts accordingly.

Is it possible to access the same account from different computers?

Yes. As long as you have the correct login details, you can login to the platform from any computer, provided your connection settings are correct and the connection is not being blocked by a firewall or your Internet Service Provider

Why I only see one price line on my MT4 chart? Is the BID or the ASK price?

All charts will reflect the BID prices only. This is the case for the actual market quote as well as for the historical prices displayed in the charts.

 

How can I see the ask price on my MT4 charts?

You can display the ASK price for the actual market quote on your charts. Right-click on the chart and select ‘Properties’. Navigate into the ‘Common’ tab and tick the box nest to ‘Show ASK line

 

 

Is the leverage fixed on my live account?

Yes, at LKM Groups the leverage is set individually for each product we offer for trading. Those settings apply on our Demo accounts as well. A detailed overview can be found in our MIS sheets our homepage.

 

What are pending orders?

A pending order is the client's commitment to buy or sell an instrument at a specified price sometime in the future.
Most commonly, you can use a pending order to create an order that will be executed automatically if the market reaches a certain level. The order essentially contains two variables – price and duration. You can specify the price at which you would like to buy/sell an instrument and also specify the duration that the order should remain active.

You can select from four different pending order types.

  • For a Buy Limit the current market has to be offered at, or above, your chosen level.
  • For a Sell Limit the current market has to be bid at, or below, your chosen level.
  • For a Buy Stop the current market has to be offered at, or below, your chosen level.
  • For a Sell Stop the current market has to be bid at, or above, your chosen level.

 

What is the difference between instant execution and market execution?

An instant execution order is one that is executed at the price you specified to place a trade on. When you place an instant execution order, the terminal sends the request to buy or sell at the specified price. If the price is still available to LKM in the market, we execute the trade. If not, there will be a "re-quote" where we return a new two-way price at which you can resubmit the order or have the option to cancel it.

market execution order is one that is executed at the best price available to LKM in the market at that time. There are no re-quotes, but the price will not necessary be the one you saw on the screen when you placed the order.
The price the order is filled at may sometimes differ from the price seen on the platform because:

  • the market may have moved on and your specified price is no longer available anymore, or
  • the trade volume you requested may be larger than the volume available in the market at the best tradable bid/offer price shown on the screen.

 

 

What is the maximum trade volume I can place?

The maximum volume you can trade depends on the type of account you hold and your available margin.

 

How do I place a pending order?

If you want to place a pending order, please open the "Order" window in one of the following ways:

  • Right click on the Market Watch window or on the "Trade" tab of the terminal window and select ‘New Order’; or
  • Double-click on the currency pair in the Market Watch window; or
  • Press the F9 button; or
  • click on the button New Order in the toolbar; or
  • Right-click on the chart window and select Trading and select New Order.



Select the order type ‘Pending order’ from the dropdown list and specify your preferred opening price as well as your stop loss and take profit levels if applicable.

 

 

What is Stop Loss order?

Stop loss orders help you to minimize losses in the event the market moves against you. If the price reaches a stop loss level, the position will be closed automatically on the next available market price.

You can add a stop loss in the New Order window when you place a market or pending order. If you took a long (buy) position your stop loss will be lower than the price at which you bought. If you took a short (sell) position your stop loss will be higher than the price at which you sold.

 

What is Take Profit order?

A take profit order is used to lock in profits if the market moves in your favour. If the price reaches a take profit level, the position will be closed automatically.

Take profit orders are useful when you are unavailable to monitor your open positions. If you take a long (buy) position your take profit level will be higher than the price at which you bought. If you take a short (sell) position your take profit level will be lower than the price at which you sold.

 

How can I open a Live account at LKM?

Please have a look at our main homepage where you will find the link to open a Live account. The application is online and you will need to fill in all required details. You will receive information about all required documents at the end of the online application.
 

How can I start trading?

Once you received the login details to your live account, you will need to download and install the MT4 platform. In case you haven’t downloaded it already you can access to the download directly through your client area. 
After funding your trading account you are ready to start trading. You will find all deposit options in LKM client area as well (Deposit).

 

How can I open a Demo account?

To open a Demo account, please fill in your details on the demo account opening page (Open Demo account) and follow the instructions that will be received by email.

How can I deposit through wire?

You can deposit funds via a wire transfer using the form of transfer  in a number of different currencies. From the list of deposit options you will receive the transfer details and follow the prompts. However, please note that any funds deposited will be converted to the base currency of your account. *Currency conversion fees may apply.
The estimated time for deposits via bank wire to clear and appear in the client accounts is 1-5 business days. Intermediary bank fees may apply.

 

 

 

Is there any fee charged for depositing founds at my account?

There will not be any payment or charge for any electronic payment. However, please note that you will be liable for any fees charges involved in the transaction, including intermediaries. For full information, please ask for assistance one of our sales team.

Does a Demo account expire?

Demo accounts on MT4 will expire after 30 days if you do not trade actively on a regular basis. However you can always reply for a new one on our Homepage.

 

 

How can I login to the MT4 platform?

Once you have downloaded the MT4 platform (hyperlink) you will need to open it. Navigate to the menu bar File > Login to Trade Account and a login window will appear on the screen. Enter the following details:

Login: [Your MT4 login number]
Password: [The password you will receive from LKM via mail]
Server: [Select the server from the drop-down menu LKMGroups-Live.]

If you wish to save your account details, tick the box right below the Server selection and click on Login.

 

What are swap fees?

You may be subject to overnight financing fees (swap fees) if you leave your positions open past 10 pm UK time. If you keep your positions open overnight we will automatically roll your positions and charge or credit you with an overnight financing fee depending on the product you are trading and whether you are long or short the positions.

Please note that on a Wednesday night FX and precious metals positions’ financing fees will be charged or credited for 3 days as the spot value date will change from Friday to Monday.

 

Why my orders were stopped out automatically?

There are different possibilities why an order will be stopped out automatically. It can be related to a set stop loss or take profit the market exceeded and closed your position.

However, if your Equity falls below 10% of the required margin your positions will be closed out by our Automatic Risk Management System, beginning with the one holding the greatest loss. Positions will be closed out until your Equity gets above the 10% margin requirement again. Please note, in case your open positions are fully hedged your positions will be closed out automatically, if your Equity gets below zero

Why FOREX?

  • Earn yourself;
  • Min. deposit amount - unlimited income;
  • Profitable - profession for everyone.

What is required?

  • Any place with available internet connection;
  • Desktop, a PC, smartphone etc;
  • Desire to earn money.

Best MT4 Platform

  • LKM Groups provides the most trader-friendly platform. We strengthen the most used trading platform, MetaTrader 4 platform for all traders, from beginners to experts...

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