1. I am having a problem with MT4. What do I do?

Our experience indicates that most MT4 issues concern either connecting or execution problems. MT4 error messages are notoriously non-helpful a lot of the time. Besides making absolutely certain that your account login credentials are correct, also check to make sure the server is correct: “Lucrorfx-Live” or “Lucrorfx-Demo”. If necessary we can supply with an IP address for the first time you log into either of those servers.

2. How do I deposit funds into or withdraw funds from my SpartanForex account?

Our available methods for funding and withdrawing funds from your account are covered on this page. Your client portal account, which can be applied for here, has procedures for initiating and notifying us of a deposit and for requesting a withdrawal of funds.

3. Does the company charge any commission for replenishment or withdrawal?

SpartanForex does not charge any commission on money transfers into or out of its brokerage accounts. However, the intermediary financial institutions involved in the international wire transfer process, including the originating institution and our receiving bank (for wires in, or the reverse for wires out), do charge fees. The difference between the gross amount of funds sent and the net amount ultimately received reflect those fees, and only those fees. Likewise, cryptocurrency transfers entail network fees and fees charges by wallet services.

4. During what hours do foreign exchange markets trade?

Forex trading activity begins at approximately Sunday at 5:00 p.m. Eastern Standard Time, and trades 24 hours a day until Friday afternoon 5:00 p.m. EST. Cryptocurrency CFDs trade 24/7 except during times of server maintenance.

5. Demo Trading Accounts?

How do I open a Demo trading account? We want clients to practice trading on a Demo account until they are comfortable prior to placing real money in a live trading account. To open a Demo account, go to this page, download the setup program, and follow the directions immediately below.

Once I download the MT4 platform, how do I sign up for a Demo account?

1. Go to top menu bar and highlight “File” then click “Open an account” (note the screen may appear automatically when logging in, without clicking on “File”, etc.).
2. When the list of servers is presented highlight “Lucrorfx-Demo” and then click on “Next >”.
3. Highlight the “New demo account” radio button and then click on “Next >”.
4. Fill in the information required and chose your (demo) deposit amount and leverage. Click on the check box “I agree to subscribe to your news letters”. Then click on “Next >”.
5. The account number and passwords for your new demo account are now provided. You will want to save these credentials, although the information will be retained in the MT4 instance (and only that instance) used for the sign up process.
6. After clicking on “Finish”, the system will automatically log you into the new demo account to begin trading. Your new demo account number will be displayed on the top left hand corner.

How long can I use the Demo trading account? A demo trading account will be closed if it is inactive for 90 days. If you wish to keep an inactive account open beyond the 90 days, contact [email protected] to request additional time.

Do Spartan FX Demo accounts involve real money? No. There is no actual money at risk. Demo accounts involve virtual play money, with a preselected deposit amount to choose upon sign up.

How does the experience of trading a SpartanForex Demo account compare to that of trading a Live account? Demo accounts allow traders to familiarize themselves with how the trading platform functions. The pricing and spreads may be similar to that of a live account, but it is not a mirror image of what the trader sees on a live account. The Demo account gives the trader an idea about what they may expect to see on a live trading account. Obviously the emotional detachment fairly readily maintained while trading with no money at stake is not so easily attained when actual funds are at risk.

Can the Demo account trade micro, mini, and standard lot sizes? Yes. Traders may trade micro (1,000), mini (10,000) and standard (100,000) lot sizes – which equate to 0.01, 0.10 and 1.0 lots – for currency pairs and precious metals. Certain commodity and stock index contracts have a minimum trade size of 0.10 lots. Contracts have varying sizes per lot, e.g., $100,000 USD, 100,000 units of a different currency, 100 troy ounces of gold, 5,000 troy ounces of silver, and 10 x a stock index, 1000 barrels of oil, etc. Make sure you understand the specifications of the contracts before trading them.

6. What is leverage, and how is it related to margin?

Leverage in the forex market is fundamentally the same as leverage anywhere. It allows a trader to buy an asset, or open a position in the case of forex contract trading, by putting down a deposit for a fraction of the asset value, or contract value in forex trading, and borrowing the rest. Margin is simply the total amount of funds on deposit available as collateral for trading positions.

If your account’s margin is $2,000, and you wish to open a trade in a forex contract whose total value is $100,000 – the value of a standard contract where USD is the base currency, such as the USDCAD (or any USDxxx contract) – the leverage required to open such a trade would be 50:1. Your position size would be 50 times that of your margin. If your broker allowed 50:1 leverage or better, you would be able to initiate this trade. Your broker – SpartanForex – would lend you the balance of the contract’s value in order to open the trade. SpartanForex offers up to 500:1 leverage, which means that to open a $100,000 value contract a client – in theory – only needs $200 margin. (Note: In practice using all your available leverage would not be prudent. Any move against the trader would result in the position being closed immediately.)

Note that obviously the higher the leverage used, the greater the effect currency fluctuations will have on the account’s value. However, there is a paradoxical effect in that the greater your allowed leverage, the more latitude you have to withstand market fluctuations and hold onto a position ... if you use your leverage allowance prudently. Example: You have $2,000 in account margin, your broker allows 100:1 leverage, and you open a trade in a contract of $100,000 value. The trade moves 100 pips against you. Now what? Your account margin is now down to $1,000 while the value of the contract is down to $99,000. You are still within the leverage limit, so you do not have to close out the trade. (Maybe you should, but that is another matter.) If, alternatively, you were allowed 50:1 leverage, you could still open the same position, but as soon as the trade moved against you the position would be closed. Thus the increased leverage allowance gives you some capacity to ride out market fluctuations as long as you do not use your full allowance.