You are only allowed to close a position (trade) during trading hours. In weekends and holidays the market will be closed. Also, sometimes you might find it difficult to close your trades in an extremely volatile or illiquid market environment.
CFD trading carries a high level of risk, which may lead to unfavorable financial outcomes for you, especially if you don’t fully understand financial products and how they work. It is your responsibility to get familiar with our products and the risks involved before you start trading with us. We recommend not using our services unless you fully understand the financial products, the benefits and the risks associated with them.
A Trailing Stop Order is designed to protect your profits by keeping your position open as long as the market is moving in your favor. In the event when the market reverses on your position, the trade will close at a pre-determined price and you will lock in your gains.
A Pip or (Price interest point) is the measurement of the smallest unit to change in a financial instrument’s price. For example: If GBP/USD moves from 1.2050 to 1.2051, that 0.0001 USD rise is 1 pip.
FinPros offers 4 different trading accounts for different trading styles and levels. Edge, Raw+, Vantage and Beginners. The Beginners account type has the lowest amount required to start trading, which is $100. For an easy comparison between the accounts, please click on the following link FinPros Accounts.
If your equity falls below the maintenance margin amount, FinPros will make a Margin Call and close your open positions. It is the customer’s responsibility to monitor their open position(s) at all times and ensure that they have sufficient funds in their account, to avoid any Margin Call.
A Stop Limit Order allows you to protect your profit by setting a specific price at which your position will close.
A Stop Loss Order helps you to manage risk by minimizing your loss, in case the market moves against you. You can set a Stop Loss Order by double-clicking on any open position → switch the order type to “Modify Position” → set the price that you wish to stop out at → and click on.
Once the market reaches your price, the Stop Order will be triggered and your position will be automatically closed.
Whenever you want to open a position at a specific price, you set an Order. To open an order on the MT5, double-click on the instrument of your choice → Switch the order type from “Instant Execution” to “Pending Order”. Set the price, the size, etc. of your choice and whenever you are ready click on “Place”.
The order will automatically open a position once the market reaches the requested price.
Leverage is a tool that multiplies your exposure to a financial instrument, without having the full amount of necessary capital. For example, you can buy 1 lot (€100,000 worth) of EUR/USD by just having $1,000 as a capital. Therefore, when using leverage, any small change in the price of the CFD is amplified into a bigger fluctuation in increased returns/losses.
Trades can be closed by either a margin call, manual closure, or automatic execution of a predefined Stop Order.
The most important benefit of CFD trading is access to a huge range of markets with leverage. Leverage allows customers to trade the instrument of their choice without the need for large amounts of capital in their account.
A CFD or Contract for Difference is a product that allows you to trade in the financial markets without having to own the underlying trading instrument.
When you trade a CFD, you are entering into a trade at a particular price and you are agreeing to exchange the difference in the entry price and the price of the CFD when the position is closed. The difference is settled in cash (whether it’s a profit or a loss).
The forex market is open 24/5 from Monday to Friday in different parts of the world, due to different international time zones.
The stock market, however, is only available to trade when the stock exchange in a particular country is open. For example, trading hours for the U.S. stock market are from 9:30 am to 4 pm (New York time).
Setting a Trailing Stop Order is exactly the same as a basic Stop Order. Double-click on any open position → Set your Stop Loss. The only difference is that in the case of a trailing stop, your position is already in profits and you are protecting some of your profits in case the market reversed on you.
On the MT5 platform, double-click on the instrument you wish to trade from the “Market Watch” window, and then click Buy or Sell.
On the MT5 platform, double-click on a trade that is currently open, a pop-up will appear and then click on the “Close Position” yellow button. Also, you have the option to partially close your position and keep the rest open.
If you want to get a report of your trades, profits and losses, etc.
Login to your FinPros account, click on “Trading Accounts” → “Account Activity”
Customers should make sure that they have enough funds in their trading account to maintain their positions.
No, the “Margin Call” feature prevents our clients from losing more than the funds they have in their account.
There are no restrictions to any trading strategy.
Yes, there are. You can view each method’s minimum withdrawal amount on your FinPros’ account dashboard. Login to your FinPros account, click on “My Wallet” → “Withdrawals”.
Typically, a withdrawal request is processed within one business day. This gives us the time we need to complete security checks before initiating payment.
Login to your FinPros account, click on “My Wallet” → “Withdrawals” → “Submit Request”.
In both cases you trade in real market conditions. The only difference between the two, is that in the Real account you are risking real money.
MT5 Demo Account has no time limit. You can use the Demo account as long as you want to familiarize yourself with the platform and sharpen your trading skills.
Login to your FinPros account, click on “Trading Accounts” → “New Demo Account”.
FinPros uses the award-winning platform Meta Trader 5, as their trading software.
You can access the MT5 Platform on your PC/Mac or through any mobile device iPhone/iPad and Android devices.
Open the MT5 platform. Go to “File” → “Change My Password”→ enter your current password and then your new password below.
Yes, FinPros provides its services only to corporate clients as well. Corporate accounts can be registered in the name of a company.
No, your money will be completely risk-free while using the demo account.
Yes, clients may open up to 8 real trading accounts and 4 demo accounts.
Overnight financing for positions is when you keep positions open overnight, also referred to as a swap. If you keep positions open past rollover time (22:00 GMT) you will either earn or get charged the swap value. The value of the swap depends on the size of your open position, the instrument you are trading, your account type and the direction of your position. There are different swaps for long positions and short positions on each instrument.
Swaps apply triple on Wednesday, because that’s how the banks supplying liquidity to the financial markets apply them. This has to do with the way spot Forex contracts are settled. Spot Forex transactions have a 2-day settlement period. A spot FX transaction made on a Monday, settles on the following Wednesday. Trades from Tuesday settle on Thursday etc. But trades rolled into Thursday settle on the following Monday as there are no settlements over the weekend when banks are closed. Hence the reason for triple swaps applying to running positions at Wednesday rollover time.
We do not charge currency conversion fees. When you move funds between wallets of different currency denominations, we use the exchange rate of the previous night’s close on our platform.
FinPros offer multiple account types, suitable for a variety of traders and trading styles. Each account type has a unique fee structure. To compare the account types, visit the following page: FinPros Accounts.
There are no hidden fees at FinPros. We are fully transparent about our fees.
There are several deposit limitations on your account, depending on the payment method.
Yes. FinPros is protected by SSL (Secure Socket Layer), which encrypts and secures all sensitive information submitted by our customers, such as credit/debit card numbers, passwords, etc.
Login to your FinPros account, click on “My Wallet” and choose your payment method.
First you need to add your Bank details/Credit Card/Crypto Wallet. Our BackOffice Department will approve your payment method so you would be able to deposit money.
No. The source of all deposits must originate from a payment method registered in your own name.
If you have a personal account with us, then you can only fund it from your personal accounts or credit/debit cards. On the flipside, if you register a corporate account with us, FinPros will only accept deposits done from a corporate credit/debit card/account in the name of your company.
Yes, you can. You may only be required to provide a bank statement as evidence to confirm that you are one of the account holders.
In agreement with Seychelles’ Financial Services Authority (‘FSA’) client funds rules, all client funds are securely held in segregated client bank accounts.
When you open an account with FinPros, you agree to comply with all applicable laws and regulations against money laundering and terrorism financing. We operate in a regulated environment FinPros and take all the necessary measures to ensure we do not onboard individuals involved in criminal activities. We are legally required to verify the identity and residential address of all our clients. This is the reason we require you to upload your photo ID and residence information.
FinPros does not offer its services to clients before they verify their identity and residential address. This is to protect both parties (you and us) from fraud as well as guard your privacy.
FinPros requests from its new clients to perform identity and residential address verification, before they can trade with us for the first time.
Our requirements for identity verification are the following:
After you create your FinPros account and login successfully, a window will pop up for you to upload your documents. If you decide to skip this part for later, you can always reopen the window by clicking on the Dashboard → Upload.
With FinPros, you can deposit your funds in 3 different ways.
We might need to ask for further documentation depending on your choice of payment to ensure the legitimacy of the funds deposited into your account.
Debit/credit card: You may add your card details in your client Area, the one you will use for your deposits and withdrawals. Please ensure that the card is under your name and is refundable.
Bank transfer: You may add your card details in your Client’s Area, the one you will use for your deposits and withdrawals. Please ensure you will be transferring from your own bank account.
Crypto Wallet: You may add your card details in your Client’s Area, the one you will use for your deposits and withdrawals. Please ensure that the Wallet is under your name and is refundable.
To update any personal details in your trading account, please contact us by sending an email to [email protected]. In the email, please make sure to explain the information that you require to update and explain the reason for the change. Relevant information and supporting documents should be provided upon such request.
For example, if you require a name change due to marriage, kindly provide your Marriage Certificate.
If you wish to update your previously provided address, please provide us an updated Proof of Address.
FinPros customers are required to verify their accounts for identification and security purposes as per regulatory requirements. For those reasons we ask you to submit the documents required: