FREQUENTLY ASKED QUESTIONS
What is Forex?
The system of global trading in foreign currency is known as the Foreign Exchange Market, Forex, FX, or just 4X. This cash market is made by large banks. Investopedia Says: There is no central marketplace for currency exchange, rather, trade is conducted over-the-counter. The forex market is open 24 hours a day, five days a week, with currencies being traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney – spanning most time zones.
Why trade Forex?
Some of the advantages of Forex are:
- High Liquidity – over $1.5 trillion per day it is the most liquid market in the world. You don’t have to worry about position sizes or too many people jumping into the trades at the same levels.
- High Leverage – Forex traders can leverage their capital more efficiently with as high as 400-to-1 leverage. We usually suggest to start with low leverage levels until you are confident in the system.
- No shorting restrictions – You can profit in up and down markets.
How do we trade?
Our system is a combination of automatic and mechanical trading algorithm. Market volatility and price action are the two factors which the system combines. We take long and short positions on day trading mode, achieving low market exposure. Profit target and stop loss are provided for managing trades.Most entry and exits are taken using limit orders, what lows down trading costs.
Minimum Account size and supported broker?
You have to open a minimum of $100 live account with any broker with good spread and execution.
The EA uses the same criteria and parameters to trade every day, there is no subjective criteria involved in the process.
Is the system 100% Automatic?
Yes, it is 100% automatic, with no interferance from entry to exit.
Does ForexPayoutEA use Scalping, Grid or Martingale strategy ?
No, it is a pure trend-follower with conservative money mangement.
Can I backtest the EA?
No, you cannot backtest the EA because trades are copied directly from our servers in real-time.
Do I need to keep the EA running all day?
Yes, you need to keep the EA running all day with a 99.9% internet connection up-time. We highly recommend hosting the EA with a reliable VPS provider.
What happens if I lose power to my computer for a short period
The trades that are currently open will stay open until the computers power is restored, no new trades will open and the system will resume normal trading as soon as the power is restored. The EA will not be able to monitor open trades.
I've used other systems, and they didn't work. Why should I try yours?
I know how you feel, because I did the same thing. It felt like nothing would work. Then I discovered my system, and everything fell into place. Check it out for yourself, with zero risk. You have nothing to lose and everything to gain. Just order a license and try it for 30 days.
Do you have customer support?
Yes we have a good customer support! Our team are on stand by 24/7 to keep up with the robot. We attend to customers even at weekends.
Do I need to renew my license?
Yes , you will have to renew your license at least monthly depending on your subscription. A one month license costs $99.
When is the deadline to renew an expired license?
You will have to renew your license at most 2 days after your initial subscription expires. That is, if your license expires 30/12/2013 , then you have to renew your license latest 2/1/2014 else your license will be terminated without prior notice.
How much is a Single License
A Single License costs $99 with a $99 monthly subcription subsequently.
Can I share my license?
No, Your License is locked to a specified MT4 Live Account Number.
How many Accounts will a License run?
A Single License works on 1-Live Account with unlimited Demo Accounts.
How much money can I make in a month?
That is almost impossible to say, since there is no "Holy Grail" system . Nevertheless, you could make 10-50% on a monthly basis.
How long do I need to run it on demo before I start trading it Live?
The EA comes with a 30 day refund period. That is, you could run it for 4 weeks on a demo account and go live at the end of the refund period. As this will allow you to have a feel of how the system operates. However, since we run the EA on our Live Accounts already, then you can go Live on purchase.
What currency pairs do I run the system on?
The EA trades only on EURUSD .
What timeframe(s) does the system trade?
Since this is a trade copier service, the EA does works on any timeframe. However, you should not attach more than one instance of the EA to the chart.
Can I run this EA on other currency pairs besides the recommended pair?
No, so far we have been able to test and optimize the EA to work with the EURUSD recommended pair only.
Will I get any personal assistance/ help from you?
Yes, you will get personal assistance as regards the EA from me once you are a paid member. You can contact me on skype "forexhotshot" and I will be very happy to help you.
Is there any money back guarantee?
Yes, You have a 60-day refund period.