General FAQ

+What is Forex?
Forex, also known as foreign exchange or FX, is the simultaneous buying of one currency while selling another. The forex market is available 24 hours a day, five days a week and it’s one of the largest, most liquid financial markets in the world. Just to compare, the New York Stock Exchange makes about $169 billion a day in volume and the Forex Market makes over $5 trillion a day in volume.
+How does Forex trading work?
Forex is traded in currency pairs. Common currency pairs are the Euro/US Dollar, US Dollar/Japanese Yen, Great British Pound/US Dollar, and US Dollar/Canadian Dollar. You buy one currency and automatically sell another.
+What are the trading hours for the Forex market?
The Forex market is open 24 hours a day. It opens on Sunday at 10:00 pm GMT, and closes on Friday at 10:00 pm GMT:Sydney opens at 10:00 pm to 7:00 am GMTTokyo opens at 12:00 am to 9:00 am GMTLondon opens at 8:00 am to 5:00 pm GMTNew York opens at 1:00 pm to 10:00 pm GMT.
+Is Forex trading expensive?
It depends on the leverage and capital invested. You can have a starting capital of as low as $50, or as high you want. However, it is important to remember that increasing leverage increases risk; but ultimately depends on the investor’s appetite for risk.
+Where is the central location of the Forex market?
Forex trading is not centralized on an exchange, as with the stock and futures markets. The Forex market is considered an Over-the-Counter (OTC) or ‘Interbank’ market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network.
+Who are the participants in the Forex market?
The Forex market is called an ‘Interbank’ market due to the fact that historically it has been dominated by banks, including Central Banks, commercial banks, and investment banks. However, the percentage of other market participants is rapidly growing and now the list includes large multinational corporations, global money managers, registered dealers, international money brokers, futures and options traders, and individual investors.
+How are currency prices determined?
There are various ways currency prices can change. Economic and political conditions usually affect the value of a currency, along with interest rates and inflation.
+Where can I learn more about Forex trading?
We offer a range of educational tools which include free trainings & seminars, webinars and video tutorials to enhance your Forex knowledge. Please visit our education section.
+How do I profit from trading Forex?
The sum of your profit depends on the efficiency of your trading strategy, on how well you will learn to predict the alteration in rates tendency and a little on the amount of your deposit which allows you to sustain unfavorable situations during market movements.
+What tools do I need to trade Forex?
You only need a computer with internet connection and a free demo account or a funded live account with AlphaBeta FX to start. However, you should be equipped with proper Forex education and tools to minimize risks in the Forex market.

Forex Term

+What is the spread?
The spread is the difference between the bid and the ask price. The bid price is the rate at which you can sell a currency pair, and the ask price is the rate at which you can buy a currency pair. With us, you can trade a large range of instruments with flexible spreads. That gives you a greater degree of price transparency on your trades.
+What is a rollover?
The rollover rate, also referred to as “swap” or “interest” rate, is simply the cost-of-carry that is applied to your account on a day-to-day basis. It is the difference between the interest rates of the two currencies which a trader either earns or pays when a position is kept open overnight.
+What is “order volume” in a Forex trade?
The term “order volume” refers to the number of standard lots you want to trade.1.00 refers to 1 standard lot or 100,000 units of the base currency.0.10 refers to 1 mini lot or 10,000 units of the base currency.0.01 refers to 1 micro lot or 1,000 units of the base currency.
+What is a spot market?
Spot markets refer to the markets that deal with the current price of financial instruments.
+What does it mean to have a 'long' or 'short' position?
If you are buying a currency pair, you are opening a ‘long’ position, if selling – ‘short’. For example, if you buy 1 lot of EUR/USD, it means you open a long position for 100,000 units of EUR against USD. And if you sell 10 lots of AUD/USD that means you open a short position for 1,000,000 units of USD vs CAD.
+What is slippage and why does it happen?
Slippage occurs when the market gaps over prices or because available liquidity at a given price has been exhausted. Market gaps normally occur during fast-moving markets when a price can jump several pips without trading at prices in between. Similarly, each price has a certain amount of available liquidity. For instance, if the price is 50 and there is 1 million available at 50, then a 3 million order will get slipped, since 3 million is more than the 1 million available at the price of 50.
+What is margin?
Margin is a percentage amount of the total trade size which a broker requires as a good faith deposit in order to allow a trader to open that position. This amount is not a fee or transaction cost; however, it is simply a portion of your account equity set aside within your account as a deposit towards the trade. Margin requirements are determined by taking a percentage of the notional trade size and are determined by the broker in advance in the trading conditions.

 Trading with Us

+What does ECN mean?
ECN means “Electronic Communication Network”. An ECN account gives you direct market access so that you can deal with other market counterparties.
+Do you offer ECN/STP accounts?
Yes we do. We can offer you ECN on your trading account through our Alpha Pro and ECN+ accounts.
+What currency can I trade with ZOZOFX?
ZOZOFX offers all major currency pairs, exotic pairs, precious metals, and CFDs for trading.
+What is a Forex broker?
A Forex broker is an intermediary between you and the interbank desk, networks of banks that trade with each other. Typically, a Forex broker will offer you a price from the banks that act as their liquidity provider. ZOZOFX uses multiple banks for pricing and we offer you the best price quotes with fast execution.
+What other services does ZOZOFX offer?
ZOZOFX also offers exceptional Forex trading education, as well as tools to equip traders to make intelligent trading decisions. Including webinars, live-trading sessions, daily Forex analysis and trade alert, and one-on-one consultation with our resident experts.
+Do you conduct trainings?
Yes, we conduct regular trainings and seminars for free. Our sales team also does one-to-one consultation with clients for their specific trading needs.


+MAC/MAM Service Description?
The MAM (Multi Account Manager) account type provides traders with an opportunity to invest their funds by letting experienced traders do the actual trading for them. All trading activities are concentrated on a single money manager’s account wherein the funds of all investors are consolidated. Investors, without performing any trading operation, may earn profit by simply entrusting the whole trading process to their chosen fund manager. As for the manager, he/she receives an agreed upon amount which serves as commission from investors for managing their funds.

Money manager creates a MAM account. During the process, the money manager drafts an offer which contains special terms: the Profit Fee and the Volume Fee ; both of which will be charged as commission for his/her fund management services. From a roster called “List of Managers”, investors are given the chance to gauge the performance of each of the active money managers. This way, investors will be able to choose the money manager that they believe is capable of providing their investment needs and preferences. The money manager trades his/her own capital, in addition to his/her investors’ funds. The profits and losses gained during trading are automatically distributed between the fund manager and his/her investors, in proportion to their respective deposited amounts.

To illustrate briefly, the performance of MAM system is as follows. For example, there is a MAMM_01 and three investors’ accounts – MAMI_01_01, MAMI_01_02, MAMI_01_03 with deposits of $10,000, $20,000, and $30,000 respectively.
In this case MAMM_01 would have total deposit of 60K. For example, manager gets $6000 profit as a result of trading.
Profit compensation procedure will be activated (remuneration procedure is activated automatically within around 15 minutes) after positions will be closed on manager’s account and following profit shares will be transferred to the investors’ accounts:

MAMI_01_01 – $1000.00;MAMI_01_02 – $2000.00;MAMI_01_03 – $3000.00;
New balance amounts will be equal to: MAMI_01_01 – $11000.00;MAMI_01_02 – $22000.00;MAMI_01_03 – $33000.00;
MAMM_01 – $66000;
As mentioned above, in the MAM system all the deposits are combined under one manager’s account, i.e. sum of the investors’ deposits is equal to the deposit on manager’s account.
The МАС (Multi Account Copier) account type is an account that allows investors to earn profit by mirroring the actual orders placed in the accounts of experienced traders. The money manager gets commission for transmitting trading signals to his/her subscribers.
MAC-Manager (hereinafter MACM) opens and closes orders on his account and this actions are being copied (as trading signal) to all subscribed MAC-Investor accounts (hereinafter MACI), according to their deposit proportions. For example, there is a MACM_01 with a deposit of $10,000 and three investor’s accounts – MACI_01_01, MACI_01_02, MACI_01_03 with deposits of $10,000, $20,000, and $30,000 respectively. On a base configuration, the system will work as follows:
MACM_01 open buy eurusd 1 lot at 1.4485;
The MAC system will automatically open the following trades on the Investor-accounts:
MACI_01_01 open buy eurusd 1 lot at 1.4487;MACI_01_02 open buy eurusd 2 lot at 1.4484;MACI_01_03 open buy eurusd 3 lot at 1.4488;
Explanation on the entering price difference provided in “Order fulfillment principle on MACI account” section below.

+Types of accounts?
There are two different types of accounts: the Manager Account (MAMM and MACM) and the Investor Account (МАMI and MACI). Moreover, in addition to manager accounts, an alpha Control account is also created. Note that the accounts’ functionality is based on Alpha Pro guidelines.
+Depositing to an account
You may not deposit directly to a MAMM account. The only way to replenish balance is to connect your MAMI account. Other money operations are also forbidden. Moreover, you may not deposit directly to a Control account as well. However, withdrawal requests could be processed. Depositing to MACM, MACI, and MAMI accounts are available at any given moment. However, funds will be displayed on MAMM’s balance (to which MAMI is connected to) only after all existing orders, including pending orders, had been closed.
+Functionality of accounts
You may trade on your MACI or MAMI account before there is an active connection to a manager. The only options left after already successfully establishing a connection to a money manager is “Close Order”. After disconnection, all trades will be closed automatically. When a MAMI account owner is connected to a manager, he/she will be able to see all opened orders, trading history, and commission charges on the ZOZOFX terminal.
+Closing an account
MAMМ, MACМ, MAMI, and MACI accounts may be closed if there are no active connections and if the balance is already equal to 0.

MetaTrader 4 FAQ

+MetaTrader 4 terminal indicates the 'Invalid Account' error. What should I do?
You have entered an incorrect login (account number) or incorrect password from your trading account. If you forgot your password, please check your email that was provided during your registration in Trader’s Room and find there a mail from AlphaBeta FX  that was sent to you confirming your registration – your login details were included in this e-mail. Please make sure that the password is entered correctly and all symbols (lowercase & uppercase) are the same as provided to you during registration.
For the Demo accounts, the server name must be ZOZOFX -Demo. For real accounts, the server name must be ZOZOFX-Live. Please note that the Login for MetaTrader 4 is your trading account number of Alpha Standard or Alpha Pro account. In order to trade you will need to use the Trader’s password that you received when you opened your account. Your Investor’s password is a read-only password that will let you view the movement of the markets but will not allow you to trade. Be sure that your Login and Password do not have any spaces or gaps before after them.
+MetaTrader 4 terminal indicates the 'Account is disabled' error. What should I do?
Your real account hasn’t been activated yet. In order to activate your account for trading, certain sum of money must be deposited to your account (in EUR or USD). Demo accounts do not require activation. Contest accounts are activated automatically at the beginning of contest.
+MetaTrader 4 terminal cannot connect to my trading account ('No connection' error). What should I do?
Please check your internet connection, maybe it is your Internet Service Provider’s (ISP) problem. Try to surf web pages which are hosted in various countries of the world. If some pages cannot be opened, contact your ISP’s Technical Support.
Try to disable or configure your antivirus and/or firewall software that is installed on your computer, it may block some internet connections of MetaTrader 4 terminal.
The internet communication ports 443 and 444 should be opened and available to terminal.exe application. If opening these ports won’t help, you can try to completely disable the firewall/antivirus and restart your PC.
If you are trading from your work PC, connection to the internet may pass through a proxy-server. Please ask your System Administrator to provide you with the proxy server’s details such as IP address, type of proxy and port. You should then enter this data into your MetaTrader 4 terminal (‘Tools’ menu > Options > Server > Enable proxy server > Proxy).
Please ask your System Administrator about availability of ports in your office network. If ports 443 and 444 are closed, you won’t be able to use MetaTrader 4 terminal. You can ask your System Administrator to open this port.
+I constantly receive the 'Market Closed' error when trying to open orders. What should I do?
The trading session on this financial instrument has not started yet. Please check the trading hours indicated on this table (click on any instrument to see further details).
If you are trying to buy or sell a Future Contract, please check, maybe it has expired and the trading is closed. Sometimes, 1-2 days before the expiration date, the Future Contracts might be switched to ‘close only’ status, hence opening new trades becomes prohibited. Try restarting your trading platform.
+MetaTrader 4 terminal indicates the 'Trade context busy' error.
Wait some time and try again, your previous order has not been executed yet or the trading server has not received it because of some problems with your internet connection. In any case, restarting the MetaTrader 4 terminal should help in resolving the problem.
+MetaTrader 4 terminal indicates the 'Not enough money' error.
If there is not enough free funds (‘Free margin’) available on your trading account for opening a position, you will receive such error. Please check from Trader’s Calculator what amount of margin is required for a particular trading instrument and calculate the standard or hedged margin for all of your opened positions.
If you see that there is not enough money to open a new position, you can close some of your existing positions or deposit additional funds to your trading account.
+I can't find the full history of performed transactions in MetaTrader 4.
Please navigate to ‘Account history’ tab in the ‘Terminal’ window and select the ‘All history’ option from the right-click menu.
+What time is shown in the MetaTrader 4 terminal?
The trading platform indicates the EET (GMT+2, during Daylight Savings GMT+3).
+'Buy Limit' or 'Take Profit' order that was placed on a Sell position has not been executed, although the price on a chart has reached the order's price. Why?
Charts in MetaTrader 4 are generated using only Bid prices; Sell orders are executed at Ask price (you can see the both prices in MetaTrader 4 terminal, ‘Market Watch’ window). The difference between these prices is spread. Please take this fact into consideration as well when placing pending orders.
+Why aren't all of the available instruments displayed in 'Market Watch' window of MetaTrader 4 terminal?
In order to see the full list of available instruments, please select the ‘Show All Symbols’ option from the right-click menu in the ‘Market Watch’ window. It is recommended to repeat this procedure at least once a month, because new contracts are added regularly and some expired contracts (i.e. futures) are removed from the list.
+What are the MetaTrader 4 system requirements for PC, Pocket PC or Smartphone?
The PC version of MetaTrader 4 Client Terminal can operate under Microsoft Windows 95/98/Me/2000/2003/2008/XP/Vista/Seven. Hardware requirements are limited with software ones.