Frequently Asked Questions

We operate in accordance with our internal procedures which are designed to comply with all legislative and regulatory requirements. These procedures involve the collection of adequate documentation from our clients with regards to KYC (Know Your Client), including the collection of a valid ID card and a recent (within 3 months) utility bill or bank account statement that confirms the address the client has registered with.

It is simple and quick. Click Open Live Account, fill in the form and upon completion you will receive an email with your login details that you can use to log in to your trading account platform. Here you will be able to place trades on all the instruments available, consult the economic calendar or interact with MQL5 community, among many other things. Please keep in mind that in order for you to start placing trades there is one more step you need to do and that is to fund your trading account.

Unfortunately, it is not possible to change the base currency of your account, however you can open a new account at any time and then specify your new preferred base currency.

Yes, during special market conditions when spreads can get wider or slippage can occur (like for example during an important news release) you may lose more than the amount you deposited. However, should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with your next deposit. For VIP accounts, under special conditions, we may offer Negative Balance Protection. Please email our support@newbiefx.com and ask for more info.

As the bonus amount is part of your equity and can be used for trading, it is possible for you to lose it. However, you do not have to refund it, moreover, according to the NewbieFX Bonus Policy, you can receive a new bonus on your new deposit.

Margin calculation formula for forex instruments is the following:

(Lots * contract size / leverage) where the result is at always in the primary currency of the symbol.

For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.

For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:

(1 * 100 000/500) = 200 Euros

Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.

The CFDs margin formula is Lots * Contract Size * Opening Price * Margin Percentage.

The gold/silver margin formula is lots * contract size * market price/leverage.

The swap formula for all forex instruments, including gold and silver, is the following:

lots * long or short positions * point size

Here is an example for EUR/USD:

Client base currency is USD
1 lot buy EUR/USD
Long = -3.68
Because it is a buy position, the system will take the swap rate for long position, which currently is -3.68
Point size = contract size of a symbol * minimum price fluctuation
EUR/USD point size = 100 000 * 0.00001 = 1
If we apply the given numbers in the formula, it will be 1 * (-3.68) * 1 = -3.68 USD.
So for 1 lot buy EUR/USD, if the position is left overnight, the swap calculation for the client will be -3.68 USD.

Here is an example for gold:

Client base currency is USD
1 lot buy gold
Long = -2.17
Because it is a buy position, the system will take the long points, which currently is -2.17.
Point size = contract size of a symbol * minimum price fluctuation
Gold point size = 100 * 0.01 = 1
If we apply the given numbers in the formula, it will be 1 * (-2.17) * 1 = -2.17 USD.
So for 1 lot buy gold, if the position is left overnight, the swap calculation for the client will be -2.17 USD.

Please note that if the base currency of the trading account is in EUR (like in the examples above), the swap calculation will be converted from USD to EUR. The result of the swap calculation is always the secondary currency in a symbol, and the system converts it to the base currency of the trading account.

The examples provided only serve as a guide and do not reflect the current charges. Swap Rates can fluctuate based on central banks official interest rates and other factors too, especially for non-forex symbols.

Leverage is the multiplication of your balance. This allows you to open bigger trading positions since the margin required will be lowered according to the leverage you have chosen. Even though with leverage you can make a bigger profit, there is also a risk of having a bigger loss because the positions you open will be of higher volume (lot size).

Example:
Your trading capital is 10,000EUR
The leverage chosen is 100:1
For a STANDARD trading account this means 100*10,000 = 1,000,000EUR
On EURUSD long position opening at 13,055, position closing at 13,155
The difference is 0.0100 pips thus 1,000,000*0.0100 = 10,000USD this is the profit you made.

All our clients’ funds are kept in segregated European accounts with tier 1 banking institutions.

Yes, you can, up to a maximum of 6 active trading accounts. It is preferable, however, to use the same personal details as for your other trading account(s). You can also move funds from one account to another, internally, without our approval, using your MT5 Terminal.

When placing a trade in the spot forex market, the actual value date is two days forward, for instance, a deal done on Thursday is for value Monday, a deal done on Friday is for value Tuesday, and so on. On Wednesday, the rollover amount is tripled to compensate for the following weekend (during which time rollover is not charged because trading is stopped at weekends).

In order to withdraw funds, your trading account must be validated. This means that first you need to upload your documents in our Members Area: Proof of Identity (ID, passport, driving license) and Proof of Residency (utility bill, telephone/Internet/TV bill or bank statement), which include your address and your name and can’t be older than 3 months.

Once you receive confirmation from our Validation Department that your account has been validated, you can request the funds withdrawal by sending us a withdrawal request. It is only possible to send your withdrawal back to the original source of deposit. Alternatively, you can complete our withdrawal form and send it to our Accounting Department via email at support@newbiefx.com or by ticketing system. All withdrawals are processed by our back office within 72 hours on business days.

It depends on the country the money is sent to. Standard bank wire within the EU takes max 3 working days. Bank wires to some countries may take longer even up to 10 working days, especially if there is an intermediary bank involved.

While all features and functions of a real account are also available for a demo account, you should keep in mind that simulation cannot replicate real trading market conditions. One relevant difference is that the volume executed through the simulation does not affect the market; while in real trading volumes have effect on the market, especially when the deal size is large. The speed of execution is the same for real trading accounts as for the NewbieFX demo accounts.

Moreover, users can have a very different psychological profile depending on whether they trade with demo or real accounts. This aspect may impact the evaluation performed with the demo account. We advise you to be cautious and avoid complacency about any conclusion that you may draw from using a demo account.

Open the terminal window by pressing Ctrl+T on your keyboard, and select the Account History tab. Right click to enable the context menu, which will allow you to save your trading history as an .html file so that you can later view it when you log out of the trading platform.

No, you can’t. You need to have an NewbieFX MT5 trading account. To open an NewbieFX MT5 account click here.

If you did not find the answer to your questions here, please feel free to contact us or use the Live Chat Room and we will be happy to answer all your questions.