At Fino Glob demo accounts do not have an expiry date, and so you can use them as long as you want. Demo accounts that have been inactive for longer than 90 days from the last login will be closed. However, you can open a new demo account at any time. Please note that maximum 5 active demo accounts are allowed.

No, you cannot lose more than the amount you deposited. Should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with your next deposit.

Fino Glob is operated by Fino Global Ltd, which ensures the safety of client funds and consumer protection under the Markets in Financial Instruments Directive (MiFID). Thus the measures that Fino Glob undertakes are as follows:

Segregation of clients’ funds

Clients’ funds get transferred to the Company’s segregated client bank account. These funds are off balance sheet and cannot be used to pay creditors in the unlikely event of Company insolvency.

Bank accounts

We maintain client and operational bank accounts with EU banking institutions of great repute.

Investor Compensation Fund (ICF)

The Investor Compensation Fund ensures that the Company pays compensation to all clients in the unlikely event of the Company becoming insolvent or having to suspend its services. The compensation amount will depend on the prevailing level of clients’ claims.

Supervision by the regulator

As a regulated financial services provider, we are obliged to meet strict financial requirements, including the monthly submission of financial reports to our main regulatory body, the Cyprus Securities and Exchange Commission (CySEC). We are thus required by law to maintain sufficient liquid capital in order to cover clients’ deposits, possible fluctuations in the Company’s currency positions, and any outstanding costs. Our regulator is informed by any deficiencies in a detailed audit submitted by an independent internal auditor every year.

We offer variable spreads that can be as low as 0 pip. We have no re-quoting: our clients are given directly the market price that our system receives.

We provide leverage from 2:1 up to 30:1. The leverage depends on the instrument traded.

Margin is the required amount in the base currency of the trading account needed to open or maintain a position.

When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair, and then converted into the base currency of your trading account, which will be numerically displayed on your MT4, or any other trading platform.

The margin requirement for gold and silver is calculated like this: Lots * Contract Size * Market Price / Leverage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD). For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).

Margin level is calculated with the formula Equity/Margin * 100%.

Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.

Margin calculation formula for forex instruments is the following:

(Lots * contract size / leverage) where the result is always in the primary currency of the symbol.

For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.

For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:

(1 * 100 000/500) = 200 Euros The Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.

The gold/silver margin formula is lots * contract size * market price/leverage.

The swap formula for all forex instruments, including gold and silver, is the following:
lots * long or short positions * point size
Here is an example for EUR/USD:
Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.
Here is an example for gold:
Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.
Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.
The examples provided only serve as a guide and do not reflect the current charges.

You can calculate your profits with the help of the following formula:

(Close price-open price)*Contract size*Lots

Example

You have a MICRO account (contract size is 1000), and you opened 0.01 lots of EUR/USD.

Opening price =1.29887, closing price=1.29906

The calculation would be as follows:

(1.29906-1.29887)*1000*0.01= 0.0019 USD (the result is always in the second currency of the currency pair).

As you can see, 0.0019 USD is too small a profit to be visible on your platform, as the profit shows 2 decimals.

Stop loss is an order for closing a previously opened position at a price less profitable for the client than the price at the time of placing the stop loss. Stop loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.

Using stop loss is useful if you want to minimize your losses when the market goes against you. Stop loss points are always set below the current ASK price on BUY, or above the current BID price on SELL.

Using stop loss is useful if you want to minimize your losses when the market goes against you. Stop loss points are always set below the current BID price on BUY, or above the current ASK price on SELL.

Take profit is an order to close a previously opened position at a price more profitable for the client than the price at the time of placing the take profit. When the take profit is reached, the order will be closed. Please note that you need to leave certain distances from the current market price when you set up stop/limit orders.

Take Profit points are always set below the current ASK price on SELL, or above the current BID price on BUY.

Amount of Base Currency*Pips= Value in Quote Currency

Value of 1 pip in EUR/USD= 1 Lot (100 000 €)*0.0001= 10 USD

Value of 1 pip in USD/CHF= 1 Lot (100 000 $)*0.0001=10 CHF

Value of 1 pip in EUR/JPY=1 Lot (100 000 €)*0.01= 1000 JPY

The numbers below are per transaction, and you can open an unlimited amount.

STANDARD account:

1 lot = 100,000 Minimum trade volume = 0.01

Maximum trade volume = 50

Trading step = 0.01

MICRO account:

1 Lot = 1,000

Minimum trade volume = 0.01

Maximum trade volume = 100

Trading step = 0.01

Please note that the minimum lot size for trading with CFDs is 1 lot.

Yes, we do. You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously. When you open a BUY and a SELL position on the same instrument and in the same lot size, the margin is 0.

However, when you open a BUY and a SELL position on a CFD of the same type and lot size, the margin is only needed once.

The margin of CFDs, when you are hedged, is always 50%.

Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).

Example:

Your trading capital is 10,000EUR

The leverage chosen is 100:1

For a STANDARD trading account this means 100*10,000 = 1,000,000EUR

On EURUSD long position opening at 13,055, position closing at 13,155

The difference is 0.0100 pips thus 1,000,000*0.0100 = 10,000USD this is the profit you made.

No, you can’t change the leverage.

The profit calculation is as follows:

(Close Price-Open Price)*Lots*Contract Size

The lot size on every CFD differs.

All our clients’ funds are kept in segregated European accounts with tier 1 banking institutions.

Slippages hardly ever occur if you trade with us. Sometimes, however, especially when important economic news is released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.

At Fino Glob, your orders are filled at the best available market price, which may be to your benefit.

More information on the Fino Glob Execution Policy

The Republic of Cyprus is a European Union member state, which means that all investment companies licensed in Cyprus fully comply with the EU MiFID (Markets in Financial Instruments Directive) regulations that apply to all countries of the European Economic Zone. The main aim of this law is to increase competition in the investment sector and protect the interests of the investment company clients. According to the MiFID regulations, investment companies should also become members of the Investor’s Compensation Fund, which ensures that the client interests are protected in the case of company insolvency.

Yes, you can. It is preferable, however, to use the same personal details as for your other trading account(s).

Trading accounts with zero balance get archived after a period of 90 calendar days.

Open positions and pending orders stay in the system even if you log off from your trading platform. The same applies to all order types except trailing stops. Trailing stops become inactive when you close or log out of MetaTrader4. Expert advisors also become inactive when MetaTrader4 is closed or you are not logged in.

Please refer to our trading terms webpage.

When placing a trade in the spot forex market, the actual value date is two days forward, for instance, a deal done on Thursday is for value Monday, a deal done on Friday is for value Tuesday, and so on. On Wednesday, the rollover amount is tripled to compensate for the following weekend (during which time rollover is not charged because trading is stopped at weekends).

According to the recent Dodd-Frank Act passed by the US Congress, the CFTC (Commodity Futures Trading Commission) no longer allows us to let US residents open trading accounts with us. We apologize for the inconvenience.

One-click trading allows you to open positions with just one click. When you want to close a position, however, one click does not work and you will need to close it manually.

To enable one-click trading on the left corner of your chart, you will find an arrow. By clicking that arrow you enable one-click trading and a window appears on the left corner of the chart.

It is not possible to change your account type, but if you wish to open an additional account you can easily do that by informing our back office at [email protected]

It is not possible to change the base currency of your existing trading account. However, you can open an additional account and choose the base currency of your preference for it.

No, we do not.