FAQs

Find answers to our most frequently asked questions

After completing the obligatory minimum requirements, you are entitled to opening an account.

To retrieve your confidential account details, you can simply ‘click here’. Please be sure to click the relevant tab; for a demo password press the ‘demo’ tab, and for a live account password, press ‘live account’ tab.

All that is requested from you while completing the registration process is your full name, valid and current address, as well as your tax identification number in order to verify your identity. Typically, verification is instant, but for more detailed information, please see our ‘Account opening documents’.

Yes, it is readily available for those who adhere to Islamic law (Sharia). With these accounts no roll-over fees are charged when traders extend their day-trade deals to the next day. Accordingly, the maximum days for day-trade deals is limited (usually up to 14 days but it may be cut short or pushed longer depending on the currency pair in question). For more inquiries related to this matter, please refer to your customer service manager or to your personal dealer.

The minimum initial deposit to fund your account is 50$, however, the recommended amount of deposit is 2,500$ in order for you to be more flexible with the charges that occur and to improve risk management.

To deposit simply log in to the ‘My account’ page; there are five methods easily available for your convenience – wire transfer, paysafe, skrill, credit/debit cards and wallets. For more information visit the ‘Payment methods’ section ‘payment methods’.

Your withdrawals can be submitted through the ‘My account’ page, and are processed in the following ways: Debit card, Bank wire transfer, and more; visit the ‘Funding and withdrawals“.

You can do this in a number of ways, such as E-mail, phone, or contacting our customer support team which will be at your side every step of the way, through any problem.

If you follow ‘this link’, you can download the windows desktop version of the Forex Tigon LTD traders’ terminal application.

Simply click ‘this link’ and you will be taken directly to the download page. In order to ensure the proper function and full potential use of the platform, it is recommended that you uninstall or remove any previous versions of the MetaTrader software.

It is a pre-requisite of Forex Tigon LTD’s customer Due Diligence program, which requires that we verify the source of our clients’ funds. This is essential in order to adhere to compliance and AML (anti money laundering) laws and managing the risk of fraud. Therefore, it is possible that we request a bank, or card account statement.

We will send an e-mail to you as soon as your application has been approved. Alternatively, you could also check your ‘account page’ to be posted on your current status of your application’s verification.

Yes, certainly; this can be done by logging in to the ‘my account’ page and following the instructions for opening additional accounts.

Yes, certainly. Islamic accounts, as well as swap-free accounts are offered; for more information, please ‘request contact’ from our team professionals and we will get back with you as soon as possible.

The list goes as follows: Valid and current passports, valid and current drivers’ license, valid national identification cards and in some cases other types of identification may be accepted. However, this is only on a case-by-case review basis and must be validated with our team.

A valid proof of address document must show both your full name and current address with the details matching those provided upon registration; acceptable forms of proofs include but are not limited to: Government-issued photo identification cards, utility bills (not older than 6 months), bank or credit card statements (not older than 6 months), confidential information (i.e. account numbers) may be removed at your own discretion.

It has my address printed on it.

Yes, certainly. If your proof of identification has your address printed on it, as well as a method of verification. However please note that we may need to request two separate forms of identity in special cases.

The quickest method of sending us the supporting documentation required is via the ‘My Account’ page; simply log-in and follow the instructions from that page directly. You can E-mail us as well if you please at newaccounts@forextigon.com

 

www.forextigon.com

  • Address: London, Mayfair – Berkley street, 1 Berkeley street, London. W1J 8DJ, United Kingdom.
  • Telephone: + 44 33 0001 0030

The address verification documents for a corporate account application should display the entity’s name and primary business contact address.

In simple terms, these documents display the purpose for which the establishment was formed, members of the company and sets forth its duties in compliance with the laws of the state in which it is established; also sometimes referred to as Article of Association and Memorandum of Association, these documents also include a breakdown of the shares of the company and their diversification. If a shareholder owns more than a 10% share in the company, we will require identity verification from them.

This should be done with in the official articles of incorporation. If the details are not within corporate documentation, please contact Forex Tigon LTD at your convenience. You can do this by contacting support@forextigon.com

This document is a statement which validates that a newly established company has fulfilled the necessary legal requirements for incorporation and is duly incorporated according to the local government or respective regulatory bodies of your jurisdictions.

Provision of a government-issued identification card with a photo, or an electronically verifiable form of identification is obligatory; as well as a proof of address no older than 6 months. Both applicants of the account must provide these forms of documentation.

In accordance with our anti money laundering policies, we are legally obligated to verify the status of the original funding account before proceeding to withdraw fund to an unverified or different source. In the event the original card is no longer available, evidence provision of the new card and its status, with an official account statement or the relevant bank-issued documentation.

  • The last four digits of the account number as well as the payment to Forex Tigon LTD.
  • Matching name of the account holder in Forex Tigon LTD.

Unfortunately, as of now, we do not accept such payment services.

When funds are deposited in to your Forex Tigon LTD account via card, it will appear as a transaction (or purchase)

Deposits may be slightly deducted from as a result of you banks service fees. Forex Tigon LTD does not charge fees for wire transfers, neither does it have any liabilities for any such charges incurring.

When submitted through the ‘My Accounts’ page it shall be processed in the order that it was received; funds are returned to the original funding method in the following order:

         Debit card

         Bank transfer

Simply log-in to your ‘My Account’ page and follow the instructions for transferring funds. Pleas bear in mind that transfer of this kind require the accounts to be of the same platform, only. You may not transfer between platforms, only accounts. I.E. MetaTrader4 account to MetaTrader 4 account.

In the case of a withdrawal of funds a reduction may incur, to be used for margin management of open positions. Liquidation of any or all open positions may happen. It is the responsibility of the account holder to ensure that the account holds enough funds to maintain the margin of open positions.

Operating system: Windows XP minimum.

Minimum screen resolution: 1024×768.

Internet Connection: 36.6 kbps or higher.

Unfortunately, it is not compatible with Mac as it is a windows-based platform. Unless through Ipads or Iphones.

The ‘following’ are supported; please make sure to thoroughly read through this section, in conjunction with the trade & order execution policy.

Market orders: Executed at the best available price at the time that the order is received.

Gapping and volatility: When economic data is received, or major news events arise, prices may “gap” as the market reacts and adjusts to the information. Forex Tigon LTD always aims to provide liquidity, but cannot be liable for such events occurring; there is also a possibility (in severe cases only) where liquidity may not be provided for a short duration.

Gap market conditions are also common when trading resumes after the weekend or during a holiday. The following risks are associated with the volatile markets:

Stop/limit orders may be executed at a different rate due to the fluctuations in such market types. Or the latest available quoted trade price from the time of order entry.

Orders may be partially executed in stages.

Open price may differ from the previous day’s closing price.

Slippage may incur.

Forex, gold and silver price quotes are generally derived from prices provided to Forex Tigon LTD by purposely selected top tier global banks which we genuinely believe could provide the best possible prices to you on a consistent basis.

Market Order

Market orders are executed at the best available price at the time the order is received.

 

Stop Orders

A stop order is an order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price.

Stop Entry Order – this is an order placed to buy above the current price, or to sell below the current price. These orders are useful if you believe the market is heading in one direction and you have a target entry price.

 

Stop Loss Order – this is an order placed to sell below the current price (to close a long position), or to buy above the current price (to close a short position). Stop loss orders are an important risk management tool. By setting stop loss orders against open positions you can limit your potential downside should the market move against you.

 

Remember that stop orders do not guarantee your execution price – a stop order is triggered once the stop level is reached, and will be executed at the next available price.

Time and sales reports for a specific period can be requested by contacting customer service at support@forextigon.com

 

Trailing Stops

A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance. When the market price moves in a favorable direction (up for long positions, down for short positions), the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade.

 

Please note: Trailing Stops work in the client terminal, and not in the server. This means if you close the MetaTrader platform before the Trailing Stop triggers/starts to trail, the Trailing Stop will be cancelled.  If you close the platform after the Trailing Stop triggers, the Trailing Stop will turn into a regular Stop Order at the level the Trailing Stop was when the platform was closed.

All of the above orders may be entered as Day Orders, entered today and good until end of New York business day (5pm New York time). Or, customers may choose to enter a Good ’til Cancelled Order (GTC), which is valid for 90 days from the date the order is entered or until the order is executed or cancelled.

 

Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled.

 

Placing contingent orders may not necessarily limit your losses.

Minimum Placement Distance

Limits and stops must be set at least 1 pip away from the prevailing market price.

Order Expiry

 

End of Day (EOD) orders automatically expire at 5pm New York time on the same day the order was entered. Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.

 

Orders Left Over the Weekend or Holidays:

 

Forex Tigon LTD’s trading hours are from Sunday at 10 PM GMT time through Friday at 10 PM GMT time . Orders (e.g. stops, limits, and contingent orders) left pending over a weekend or holiday period will not be executed until Forex Tigon LTD resumes regular trading hours.

Market Order

Market orders are executed at the best available price at the time the order is received.

 

Stop Orders

A stop order is an order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price.

Stop Entry Order – this is an order placed to buy above the current price, or to sell below the current price. These orders are useful if you believe the market is heading in one direction and you have a target entry price.

 

Stop Loss Order – this is an order placed to sell below the current price (to close a long position), or to buy above the current price (to close a short position). Stop loss orders are an important risk management tool. By setting stop loss orders against open positions you can limit your potential downside should the market move against you.

 

Remember that stop orders do not guarantee your execution price – a stop order is triggered once the stop level is reached, and will be executed at the next available price.

Time and sales reports for a specific period can be requested by contacting customer service at support@forextigon.com

 

Trailing Stops

A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves

Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled.

 

Placing contingent orders may not necessarily limit your losses.

 

Minimum Placement Distance

 

Limits and stops must be set at least 1 pip away from the prevailing market price.

Order Expiry

 

End of Day (EOD) orders automatically expire at 5pm New York time on the same day the order was entered. Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.

 

Orders Left Over the Weekend or Holidays:

 

Forex Tigon LTD’s trading hours are from Sunday at 10 PM GMT time through Friday at 10 PM GMT time . Orders (e.g. stops, limits, and contingent orders) left pending over a weekend or holiday period will not be executed until Forex Tigon LTD resumes regular trading hours.

Phone trading is available to customers during market hours. To place a trade over the phone, contact customer service at 443300010030, live chat or e-mail (support@forextigon.com)

 

Phone Trading Instructions:

 

State your Account Number. You will be asked to verify the name on the account and answer other security questions.

 

Ask for the current price; For example, “I would like a price on GBP/U.S. Dollar.”

 

Forex Tigon LTD will provide the current bid/offer; For example: “BGP/U.S. Dollar is trading at 1.31551/1.31562” (the first number being the bid, the second the offer).

 

If you wish to place a market order, state your interest. “I would like to sell 100,000 of GPB/U.S. Dollar at the market.”

 

Forex Tigon LTD will provide verbal confirmation of the trade. Your trade will be entered on your behalf and the trade will appear in the trading platform immediately.

 

If you do not wish to deal at the quoted levels, simply request different prices from your account manager.

 

You may also request that a stop or limit order be placed on your behalf. Be sure to indicate the type of order and the price at which you would like to set this at.

 

All trades executed via the phone are subject to a pre-deal margin availability check and will be manually entered into the customer’s account for integrated P&L analysis and reporting.

 

All phone orders will be recorded to ensure fairness and accuracy for all parties involved.

Account reports are accessible directly from within the trading platform in question; simply click on the account history tab and select save report.

Download the MetaTrader 4 mobile applications to your device; once downloaded and opened, the app will greet you with a message saying “Hi”; this message contains the MetaQuotes ID. This can be used to activate your alerts.

 

Go back to the desktop terminal and go to Tools > Options > Notifications and enter your MetaQuotes mobile app ID;

Check “enable push notifications” and click OK.

Click on the Alerts tab and right-click to pull up the options menu.

 

To create a new alert, click create, enter your specifications, and choose Notifications as your delivery method within the Actions section. You will then receive your rate alert as a push notification to your mobile device.

Expert Advisors (EAs) are softwares that can be used to automate trading and can be written using the MQL4 language or purchased from a third party. Keep in mind that EAs run locally on your computer and will not execute strategies when disconnected from the server. For qualified clients, EA hosting services are available to run your strategy on a secure VPS environment. Click here to learn more.

 

Please note: MetaTrader 4 allows you to run more than one Expert Advisor simultaneously.

This video will show you how to upload, run, and set parameters for an Expert Advisor on MetaTrader 4.

 

For more platform walkthroughs, click here.

You must maintain a minimum of $5,000 in your account; You must execute at least 10 round trip mini lots or the equivalent per calendar month.

 

We will re-evaluate your eligibility at the end of each calendar month. Accounts that do not meet the minimum requirement will be denied access to Expert Advisor Hosting.

Expert Advisor Hosting is provided by Forex Tigon LTD.

For more information on EA Hosting and to request EA Hosting, click here.

Please “click here” or search for MetaTrader 4 on your mobile device’s app store.

Yes, you can monitor your account, access your reports and more on the MT4 mobile app.

Pending orders, such as stops and limits, can be executed End of Day (EOD) or Good ’til Cancelled;

EOD orders automatically expire at 10 PM GMT time on the same day the order was entered.

 

Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.

It is the sole responsibility of the client in regards to the monitoring of accounts and maintaining 100% of the required ‘margin costs’ (make ‘margin costs’ a hyperlink at all times to support all open positions.

 

If at any point, the equity available drops below 100% of the margin required you will be subject to auto liquidation of the position incurring the largest loss.

Liquidation of other open positions will continue until sufficient margin is maintained in the account.

 

If you are still unsure why your position was closed, please contact us

The smallest available trade size is 50 units for currencies.

Slippage is when an order is filled at a price other than the requested price.

Our quoted prices are executable the majority of the time although In fast-moving markets, orders may be executed at a price which has ceased to be the best market price. Limit orders will always be filled at the price asked or better.

Margin is equity from your account set aside by Forex Tigon LTD in order to maintain a position when you’re trading on leverage.

Leverage is the ability to control a large position with a small amount of capital. It is usually denoted by a ratio. For example, if your account has a leverage of 50:1, that means you can trade a position of $50,000 with only $1,000.

 

Please note that increased leverage increases risk greatly and you should be informed before taking such decisions.

Click here for a full list of margin requirements by product

While our 100% margin requirement and real-time margin system is designed to limit your trading losses and help ensure that total losses never exceed your total account balance.you do risk incurring losses greater than your account balance; especially during periods of extreme market volatility.

 

While it is not Forex Tigon LTD’s policy to hold clients responsible for modest negative balances, we do reserve the right to hold clients responsible for large debit balances and when special case circumstances occur.

 

For this reason, we strongly encourage you to manage your use of leverage carefully.

You can request a change to your level of leverage by accessing ‘MyAccount’.

If at any point, the equity available drops below 100% of the margin required you will be subject to auto liquidation of the position incurring the largest loss.

 

The liquidation process is as follows: the net aggregated open position with the greatest unrealized loss is closed first followed by the next largest losing position, and so on until the maintenance margin requirement is satisfied or exceeded.

Depending on the size of unrealized P&L of open positions, all open positions may be liquidated in order to meet the margin requirements.

 

While our 100% margin requirement and real-time margin system is designed to limit your trading losses and help ensure that total losses never exceed your total account balance, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility.

 

While Forex Tigon LTD does not typically hold clients responsible for modest negative balances, we do reserve the right to hold clients responsible for debit balances. For this reason, we strongly encourage you to manage your use of leverage carefully. Increasing leverage increases risk.

There are several proactive measures that you can employ to prevent liquidation and manage risk:

Actively monitor the status of your open positions:

 

Specify a stop-loss order for each open trade to limit downside risk; You can specify the stop-loss rate at the time you issue a trade, or add a stop-loss order at any time for any open trade.

 

You can also change your stop-loss orders at any time to take current market prices or other conditions into account. The use of stop loss orders may not necessarily limit your losses.

 

Keep your account funded in excess of your required margin.

These extra funds act as a cushion, protecting you if the market moves against you. If you are in danger of breaching your margin limits, either incrementally reduce the size of your position or add funds to your account as soon as possible.

 

Employ lower leverage. You may request a leverage change at any time.

Learn more about managing risk.

A rollover is the simultaneous closing of an open position for today’s value date and the opening of the same position for the next day’s value date at a price reflecting the interest rate differential between the two currencies.

 

In the spot forex market, trades must be settled in two business days. For example, if a trader sells 100,000 euros on Tuesday, then the trader must deliver 100,000 euros on Thursday, unless the position is rolled over.

 

As a service to customers, all open forex positions at the end of the day (10:00 PM GMT time) are automatically rolled over to the next settlement date. The rollover (or swap) adjustment is simply the accounting of the cost-of-carry on a day-to-day basis

Rollover rates are based on the interest rate differential of the two currencies and the spot price. At Forex Tigon LTD, we keep your rollover costs as low as possible when you pay on the rollover, and maximize your credit when you earn on the rollover.

Our rollover rates are updated daily and reflect some of the most competitive in the industry. View our rollover rates here.

 

You can also access our rollover rates direct from our trading platforms.

Rollovers are processed at 10:00 pm GMT, at which time any open positions will be rolled and a debit or credit will be applied to your account.

At Forex Tigon LTD, no interest is paid or received if you open and close a position in the same trading day.

 

Other brokers may apply rollovers on a second-by-second basis. However, please note that this type of policy can ultimately end up costing you more money in transaction costs in the form of rollover charges.

Intraday positions are all positions opened anytime during the 24-hour period after the close of Forex Tigon LTD’s normal trading hours at 10:00 PM GMT.

 

Overnight positions are positions that are still on at the end of normal trading hours (10:00 PM GMT), which are automatically rolled by Forex Tigon LTD at competitive rates (based on the currencies’ interest rate differentials) and applied directly to your account balance afterwards.

Rollovers for positions held over the weekend will be posted on Wednesday; as a result, the rollover applied on Wednesday will be for three days of rollover interest.

 

A holiday rollover will occur when the currency traded has a major holiday and the banks are closed. A holiday rollover will typically be applied two days before the holiday.

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