JForex standard trading hours for most instruments are from 21:00h GMT* (00:05h Monday server time) on Sunday to 21:00h GMT* (23:55h server time) on Friday.
NOTE: For detailed information on trading hours per instrument, please click here.
This means that we offer our clients direct market access, interbank grade spreads and a fast, reliable execution with no dealer intervention and no requotes.
Moreover, being an STP broker eliminates the innate conflict of interest that may occur between Market Makers and Clients.
More on STP vs Market Maker .
Read more on Tier1FX EPM Stop Loss.
Tier1FX EPM Stop Loss Disclaimer.
25,000 – 250,000
Trading account currency: EUR
Currency pair traded: EUR/USD at 1.34500
Lot Size traded: 1.00 (100,000 units)
Leverage: 1:200 Margin = EUR100,000 / 200 = EUR 500
Trading account currency: USD
Currency pair traded: EUR/USD at 1.34500
Lot Size traded: 1.00 (100,000 units)
Leverage: 1:200 Margin = EUR100,000 * 1.34500 / 200 = USD 672.50
Clients are encouraged to monitor exposure and risk at all times in order to limit potential excessive losses resulting from overexposure and stopout.
Let’s take the following trade as an example:
You think that the euro will raise in value against the US dollar and decide to buy 100,000 euros (or in other words, 1 standard lot EUR/USD) at 1.35670. This will cost you 100,000 * 1.35670 = USD 135,670.00.
Let’s assume that you were right and the price of the euro against the US dollar increased to 1.35785, which gives you a profit of 115 points or 11.5 pips (1.35785 – 1.35670 = 115).
If you decide to close your position at this point, what you are actually doing is selling your 100,000 euros at the current price of 1.35785, which means that you’d now have USD135,785.00.
Your total profit from this trade will be $135,785.00 – $135,670.00 = $115.00
This amount will be automatically converted into your trading account’s currency, in the event that it is held in a currency different than USD.
Equity is a dynamic value and takes into consideration the profit and loss from open trades at the time.
Equity = Balance +/- Profit/Loss from currently open trades.
Margin Level (ML) shows the ratio between your account’s Equity and Margin. ML = E/M *100
Free Margin (FM) tells you how much funds you have left to open new trades. FM = Margin – Equity
As a simple rule, if Equity = Margin, then Margin Level = 100% and Free Margin = 0 and therefore you will not be able to place new trades.
See more on Margin Requirements.
For more details on “Debit Risk”, please refer to point 9 of the Tier1FX Limited Risk Disclosure Statement .
Market Execution guarantees that the price will never be re-quoted, as your order is filled at the current market price. One advantage of Market Execution is that your orders will always* be filled and you will enter the market with no delays caused by re-quotes. Please note however that the price at which your order is filled may be different to the one you specified, as the entry price depends entirely on the current market price. As an STP broker, Tier1FX offers Market Execution, guaranteeing that your orders are always filled at a fair and transparent market price, with no dealer intervention, re-quotes and delays.
*Subject to market conditions
You can set your Stop Loss and Take Profit as soon as the trade is placed.
As all orders, including Stop Loss, are filled at the current market price, it is possible for your trade to be closed at a level other than your pre-set stop value. This is known as “gapping”: in fast moving markets, prices may gap straight through your pre-set order price.
Stop Loss orders are designed to automatically cut losses if market moves against you. For this reason, once your SL has been triggered, your trade will be closed at the next available market price in order to prevent further losses on your account.
As a result, while execution on your SL is guaranteed, the actual close price may differ from the one you have specified.
*Subject to Market Liquidity
This means however that the price at which your order is filled may be different from the one you specified (i.e. slippage may occur), as the entry rate depends entirely on the current market movement.
Both MT4 and JForex offer you enhanced slippage control. You can set the Maximum Deviation (MT4) or Maximum Slippage Level (JForex) with which you feel comfortable and orders will be rejected if market price moves past your maximum slippage level.
The maximum lot size per trade for most pairs is 50 lots* – the equivalent of 5,000,000 units of the base currency. The max lot size for Crude Oil (XTI/USD), Brent (XBR/USD) and Natural Gas (XNG/USD) is 20 lots.
There are no limitations on the number of open trades, regardless the lot size traded.
* If you require a larger maximum trade size, please contact us at firstname.lastname@example.org
JForex desktop platform offers server-side Trailing stop, which means that it will be triggered even if your computer is off.
Please note that we can only execute phone orders to close open positions. Unfortunately we cannot accept phone orders to open new positions or place contingency (stops, limits, MIT, OCO, etc).
Our order desk can be reached by calling +356 2327 3000.
The following steps should be followed to transact via the telephone:
1. You will be asked to provide your account number/login, full name and Secret Question Answer.
2. Once your identity is confirmed, you will be asked to provide the ticket number of the trade you wish to close.
T1 Representative will confirm the details of the trade (e.g. “This is a short position for 2 mini lots
EUR/USD”) and will provide an indicative market price.
3. If you wish to close all open trades, you must say so. In this case, the T1 Rep will confirm the details of
all open trades
4. It is your responsibility to ensure that the T1 Rep understands your order and to correct him/her if the
order read back to you is not what you want.
5. You must confirm that you authorize T1 to close the trade(s) and the T1 Rep will proceed to do so.
6. Once trade(s) is/are closed, the T1 Rep will confirm that “Ticket #123456 0.2 EUR/USD is closed at 1.2345”.
7. You will receive the trade closure details report as a ticket on the Service Desk of your Client Portal. The ticket Subject will be
“Phone Order to Close Trade” and will contain the ticket number, order details and closing price. The ticket status will be “Closed”.
Client: Hello, I wish to close a trade.
T1 Rep: Hello, May I have your full name, account number and Secret Question answer please?
Client: My name is John Smith, account 12345, Secret Question answer “password”.
T1 Rep: Ok, thank you. What is the ticket number of the trade you wish to close?
Client: Ticket number 12345678
T1 Rep: Ok, the trade in question is a short position for 2 mini lots EUR/USD, is that correct?
Client: Yes, that is correct.
T1 Rep: Current market price is 1.2345. Do you want to close the trade?
Client: Yes, please close it.
T1 Rep: Ticket number 12345678 closed at 1.23334. You will receive a Service Desk ticket with the order details.
**In case of unsuccessful “Secret Question & Answer” authorization or if you refuse to go through this process, your instructions will not be accepted.
**Your instructions may need to be given in English.
Buy Stop and Buy Limit will be triggered when the Ask price reaches the specified level and Sell Stop and Sell limit will be filled at the Bid price.
- Buy Stop – an order to open a Buy position at a price higher than the current price level;
- Sell Stop – an order to open a Sell position at a price lower than the current price level;
- Buy Limit – an order to open a Buy position at a lower price than the current price level;
- Sell Limit – an order to open a Sell position at a price higher than the current price level.
As a rule, Stop orders are placed when the current trend is expected to continue and Limit orders when the market is expected to move in the opposite direction.
I had a short position and my Stop Loss was triggered but I can see on the charts that the price never reached my Stop Loss level.
Remember that the price shown on the MT4 charts is the Bid price and the spread needs to be added to it in order to obtain the actual Ask price at the time.
If you are placing Take Profit when your trade is in loss and do not set it not far enough above the current market price (in other words, if you place it below the opening price of the trade), it will act as a Stop Loss and your trade will be closed with a loss.
As soon as you do this, the system starts to automatically check with each new incoming quote whether the trade is profitable. Once the profit in points becomes equal to or higher than the Trailing Stop level you have specified, the terminal automatically places a Stop Loss at that same specified distance from the current price (in other words, at your open price).
If the price becomes profitable for your trade direction, the Stop Loss will follow it with the same predefined distance.
If price goes in the opposite direction, Stop Loss will not be modified and will be eventually triggered if market continues moving in that direction.
When all positions are fully hedged, the Margin Requirement will be zero.
Please note however that even if your positions are fully hedged, you are still responsible for the spread cost and stopout can still be triggered.
In addition, pending orders can be placed at as close of market as 0.1 pips.
Note: Tier1FX does not allow arbitrage.
As JForex is a Java based platform, EAs applied to JForex accounts need to be in Java programing language.
Choosing, evaluating, using and monitoring an EA is entirely at client’s own discretion and should not be in violation of Tier1FX Trading Rules and Regulations
For more details on Tier1FX EA Policy, please read here
To see Rollover rates by instrument, click here.
This is due to the fact that Forex spot transactions settle two (2) business days from the date of the actual trade.