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PowerForex AutoTrader - Frequently Asked Questions
 DEMO
Q: How long does the PowerForex AutoTrader DEMO account last for?
Demo, or practice accounts have a 30-day limit. After the 30-day expiration you can apply for an additional demo account, if needed.
Q: Does the DEMO account have the same functionality as the LIVE version?
A: In DEMO mode, trades will not show the Stop Loss or Target Point to avoid signal misuse. Also, in DEMO mode, the Open Manual Trade is disabled.
LIVE
Q: What if I want to execute a manual trade in addition to Auto-trades?
A: In LIVE trading you are able to open manual trades in addition to auto-trades. These will be labeled as “manual” in the System column on the Auto-trading software.
Q: How many signals can I choose from to trade in a LIVE account?
A: There are currently over 200 strategy selections in the LIVE account version.
Q: Are performance figures realistic to what people are getting on their LIVE account?
A: There are many LIVE clients trading these systems, the performance figures are regularly checked to ensure they are aligned with LIVE trading account performance.
Performance
Q: Do the performance figures include swap values?
A: Yes, they include the swap rates.
Q: Why are some pairs showing less profit than other pairs with same number of pips?
A: This depends on the pip value of the currency pair in question.
Q: Which is the best system to trade?
A: This is left to the discretion of the client, PowerForex AutoTrader provides comprehensive tools and trade history for a trader to make informed decisions regarding various investment choices, but this does not constitute investment advice.
Q: Since this is server based, how reliable is the technology? Is there server redundancy?
A: PowerForex AutoTrader's platform provides extremely stable technology, which includes backend server redundancy.
Q: How can I view my PowerForex AutoTrader trades?
A: You can view your trading signals via 2 methods:
- A web-based viewer where you can access your account from any PC connected to the Internet, without the requirement to download any software. This means you can view your trades anytime, anywhere on any PC.
- Through the FXCM tradestation.
FEES
Q: What are the costs for the signals and trade execution? Are there any other hidden charges?
A: Live account holders pay a 2 pip commission per round turn in addition to the broker spread. For example, $2 on $10k Mini-lot. There are no other charges for signals or platform rental.
Q: Do the performance figures include commission?
A: No, the performance figures do not include 2 pip commission per round-turn trade.
Q: When is the commission charged, at end of month or at the end of every trade?
A: The commission is applied when the trade is closed.
Money Management
Q: Can I set leverage with your platform, what if signal provider wants to buy $100k but I only want to open $10k?
A: The client sets the leverage for each currency pair to their requirement, the signal provider only sends the signals, not a suggested lot size, a client can trade from $10k lot upwards for each pair they decide to trade.
Q: What choices for Money Management do I have in a LIVE account?
A: There are 3 Modes of Money Management for you to choose from:
- Fixed Lot – Fixed Lot size per trade.
- Fixed Fractional – Fixed Account % Risk per trade on Principal.
- Fixed Ratio – Increases or Decreases lot size dependent on Account Balance.
Q: Can I trade various modes of money management in the same portfolio?
A: Yes, you can have Fixed Lot, Fixed Ratio, and Fixed Fractional settings in the same portfolio. Each chosen strategy can have its own unique money management settings.
Q: When I have an open position, what happens if I disable money management for a signal provider? How will the trade be handled by the system?
A: If you remove a signal provider from your portfolio, any open trades will be closed off when the close order arrives, but a new position to open will not be executed.
Signal Providers
Q: Can I trade any signal Provider I like?
A: Only signals providers integrated and listed on the PowerForex AutoTrader platform are available to auto-trade.
Q: What does Max DD mean in the signal provider list?
A: It stands for Maximum Drawdown. It is the largest peak to valley drawdown for that particular strategy pair. This figure can be used for evaluating potential risk.
Q: How can I check the signals from my chosen provider?
You can open the signals tab on the platform to view signal history.
Q: Is there anyway for us to know when new strategies are added?
A: One advantage of trading with PowerForex AutoTrader is that you will consistently be updated with new strategies that emerge.
Administration
Q: How do I get started, what is the process and how long does it take?
A: Open and fund an account with PowerForex AutoTrader and you can be auto-trading in 24 to 48 hours.
Q: Can I stop Auto-trade at any time?
A: Yes, you can close all your positions and disable your portfolio instantly. You have the ability to completely control your account at all times.
Q: Can I manually close or change the stop-loss or limit values?
A: Yes, you can close or modify an auto-trade signal, however it will be readjusted again if a new modify order is placed by the signal provider after the client adjustment.
Q: Does the platform need to be connected to the Internet permanently?
A: No, all trade signals are executed on remote servers. Therefore, it’s not a requirement to keep your computer running for trade execution on your account. The only times you are required to be connected to the Internet are when you initially create your portfolio and set your money management settings, to check on the performance of your account and adjust your portfolio as needed, and when you manually intervene in LIVE trades.
Execution
Q: How do I know when a trade is opened and closed on my account?
A: We will send you a notification alert to your email address, this alert can be forwarded to SMS if you are using an email to SMS supported email provider.
Q: Does your platform support multiple strategies in parallel?
A: For example, what happens if Provider A is short on EUR/USD and Provider B tries to place a long EUR/USD trade? The auto-trading platform will recognize signals from multiple signal providers and hedging is used when necessary.
Q: If I close an auto-trade, when the signal arrives to close the trade, will it then put me in a new open position
A: No, signals to open and close are distinctly different, if you manually close a trade, no position will be taken when the close order arrives.
Q: If I want to trade LIVE with PowerForex AutoTrader what broker do I trade with?
A: PowerForex AutoTrader is partnered with one of the leading Forex brokers Forex Capital Markets (FXCM).
Note: If you have questions that are not answered above, please
Contact Us.
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