LIDYA TRADE
Frequently Asked Questions

What leverage do you offer?

We offer leverage from 1:1 to 1:200 based on the account type.

What products can I trade?

You can trade Forex, Precious Metals, Futures, Indices and Crypto Currencies.

What should I do if I cannot place or close a trade?

If you cannot place or close a trade, please contact our support team by email support@lidyafx.com, phone +44-20 36953384 or through live chat for assistance.

How much is one standard LOT equivilant to?

One standard lot is equivalent to 100,000 units of the base currency, while a mini lot (0.1 lots) is equivalent to 10,000 units and a micro lot (0.01 lots) is equivalent to 1,000 units.

What are pending orders?

Pending orders are instructions given by the trader to buy or sell a financial instrument when its set price is reached.

What are swap free accounts?

Swap free accounts are accounts that are interest free for positions carried forward overnight.

What are the different type of pending orders?

Pending orders are distinguished as stop orders and limit orders.
A limit order limits the price at which a trader is prepared to buy or sell. There are two types of limit orders: a buy limit order is an instruction to buy a financial instrument at a specified price or lower; a sell limit order is an instruction to sell a financial instrument at a specified price or higher.
A stop order is an instruction to open a trade when a predefined price level is reached. There are two types of stop orders: a buy stop is an instruction to buy a financial instrument at the market price; a sell stop is an instruction to sell a financial instrument at the market price. These types of orders can be executed at a better or worse price than the one set by the trader.

What is a PIP?

A pip (percentage in point) is the term used for the smallest movement in currency prices, which are generally quoted to four or five decimal points, with the exception of currencies quoted to two decimal points. The pip is the fourth digit after the decimal point for currency pairs quoted to four and five digits, whereas the pip is the second digit after the decimal point for currency pairs quoted to two digits. For example, EUR/USD 1.3201 and USD/JPY 98.12.

What is leverage?

Leverage is the method that allows traders to make larger investments than their initial capital investment would allow. For example, with a 1:20 leverage you can manage a 20,000 USD investment with 1,000 USD.

What is Margin Call?

A margin call occurs when the margin level of your trading account reaches or falls below your used margin. In the event of a margin call your trades are automatically closed to avoid your account from reaching a negative balance.

What is Margin?

This is the amount of available free funds you must have in your account in order to place a trade. It is determined by the leverage percentage you selected when your account was opened. For example, with a leverage of 1:100 the free margin required to make a trade of 1 lot for USD/JPY would be 1,000 USD.

What is Slippage?

Slippage is the price difference, measured in pips, between the price a trader expects a pending order to be filled at, and the price it is actually filled at. It usually occurs in special market conditions like fast moving volatile markets or low liquidity conditions. Slippage may be positive, negative or neutral.

What is Spread?

Spread is the difference between the bid and ask price of a financial instrument.

What is Stop Loss?

Stop loss is an order to close a position in the event that a trade moves in an unprofitable direction.

What is Swap?

Swap refers to the change in interest rates when a position is carried forward overnight. It can be both positive and negative; this varies according to the interest rates. It is charged automatically at the end of each day at 23:59 server time.

Take profit is an order to close a position in the event that a trade moves in a profitable direction.

What is Take Profit?

Take profit is an order to close a position in the event that a trade moves in a profitable direction.

What is the minimum amount I can deposit?

The minimum amount is 300 USD depending on the account type you have opened.

What is the value of a PIP?

To calculate the pip value you multiply the pip by the number of lots. For example, on a standard EUR/USD lot (100,000 units) the calculation would be 0.0001*100,000 = 10 of the quote currency. Additionally, on a standard USD/JPY lot the calculation would be 0.01*100,000 = 1,000 of the quote currency.

When can I start Trading?

You can start trading as soon as your funds are in your account, and we have your documentation.

Do you allow the use of EA's?

On our classic accounts EA trading, Trailing Stop and Deviation function are not allowed. We advise you not to try to use  any of these tools with classic accounts since it may cause your platform to misbehave.

Are my funds safe with you?

Assuring the safety of our clients’ funds is regarded with utmost importance, which is why we ensure that all client funds are placed in segregated accounts with reputable banking institutions. Additionally, we are a member of the Investor Compensation Fund, which is implemented to ensure that we pay compensation to all clients in the unlikely event of an interruption in our services.

Are my personal details secure wth you?

All your personal details are securely stored and not available to unauthorized personnel. Moreover, your passwords are encrypted, only accessible to you.

Can I change the leverage of my account?

Yes you can request a change in leverage by contacting our support team by email at support@lidyatrade.com or through live chat.

Can I change my demo account leverage?

Please contact us if you would like to change the account leverage for your demo account. You will be asked to quote your account number and the leverage you would like.

Can I delete trades from my demo account history?

No, you are not able to delete previous trading activity from your demo account.

Can I have a demo and real account at the same time?

Yes you can hold both a demo and a live account simultaneously. This is useful if you wish to test out a trading strategy before applying it on your live account.

Do I need to download any software before I start trading?

You must download a trading platform on your PC in order to trade on our MT4 client terminal. We also offer a mobile trading option either through your Android or iPhone device.

Do you offer demo account?

We recognize the value of practising trading with a demo account, both for beginners who are learning how to trade, and experienced traders who wish to experiment with new trading strategies. This is why we offer free demo accounts to anybody who registers with us.

How long does it take to open a trading account?

It takes less than five minutes to open a trading account with us, provided you complete the account opening form correctly.

I have forgotten mytrading account password. What should I do?

Please contact our support team with your account number and registered email address if you have forgotten your account password.

What documents are required to open an account?

If you wish to open an account, you are required to submit:

A copy of a valid passport or national ID card (front and back).

Proof of residence; this can either be a bank statement or a utility bill (i.e. gas, water, electricity, or a landline phone bill) issued within the last six months.

Please note: Personal information must be clearly displayed on all provided documentation.

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