Frequently Asked Forex Questions
If your question is not in the list below, please scroll down for a complete listing of all FAQs that are available on our website.
Trading with Ally Invest Forex FAQs
- What are your commissions and fees on trading?
- How do I deactivate or reactivate my account and is there a cost involved?
- What are your trading hours?
- Can I trade with Ally Invest Forex if I am not using my main computer?
- What other services does Ally Invest Forex offer?
- What happens to my open positions at the end of the trading day?
- What are Ally Invest Forex's margin requirements?
- How do I confirm trades that I’ve placed?
- When do I place a limit order and when do I place a stop?
- How do I place a trade over the phone?
- Can I place a trade via email?
- Can I hold positions over the weekend and major holidays?
Account Information and Funding FAQs
- What's the difference between a practice and live trading account?
- How can I renew my practice trading account?
- How much money do I need to open an account?
- How do I open an account with Ally Invest Forex?
- What is the best way to send new account paperwork?
- How do I know if my account has been opened?
- How do I fund my account?
- How do I fund my account by personal or business check?
- How do I fund my account by eCheck (ACH Payment)?
- When will my funds be posted to my account?
- What account reports are available?
- How do I withdraw money from my account?
- What is considered a 3rd party?
Account Opening Documentation FAQs
- How can I send my documentation to Ally Invest Forex?
- What information is required for account opening?
- Why do you need this identification information?
- My documents are not in English. Will this be a problem?
- Where can I find the New Account Confirmation page?
- What can I use for government issued photo ID?
- What information needs to be on the government issued photo ID?
- What information needs to be on a proof of address?
- Can I use my office address instead of my home?
- I lease my home and all bills are in the landlord's name. Is this okay?
- I do not receive any mail at my home address. Can I provide a document showing my P.O. Box?
- My driver's license has my address on it. Can I use this document for both ID and proof of residence?
- My application is for a joint account. Do you need documentation for both account holders?
- My application is for a corporate account. Whose name and address should be on the address confirmation document?
- What is a Certificate of Incorporation?
- What are Articles of Incorporation?
- How can I provide the breakdown of shares/Share Registry?
- How do I request a second account?
- How do I transfer funds between two existing accounts?
Forex Market FAQs
- What is Foreign Exchange?
- Where is the central location of the FX Market?
- Who are the participants in the FX Market?
- When is the FX market open for trading?
- What are the most commonly traded currencies in the FX markets?
- Is Forex trading expensive?
- What does it mean to have a 'long' or 'short' position?
- What is the difference between an "intraday" and "overnight position"?
- How are currency prices determined?
- What is the margin requirement for each currency pair?
- How do I manage risk?
- What kind of trading strategy should I use?
- What are the trading hours for trading USD/MXN and USD/ZAR?
Ally Invest Forex Desktop Software FAQs
- How do I download Ally Invest Forex’s desktop platform?
- Can I use the Ally Invest Forex downloadable platform on a Mac?
- Why do I receive an “Authorization Failed” message when trying to log in?
- Does Ally Invest Forex’s desktop platform adhere to the First in Fist Out (FIFO) rule?
- What are the system requirements for Ally Invest Forex’s desktop platform?
- What are the order types available on the Ally Invest Forex desktop platform?
- How do I update my price tolerance?
- Can I partially close an open position?
- Can positions be aggregated?
- How do I trade over the phone with my Ally Invest Forex account?
- Is there a maximum deal size or maximum order size on the Ally Invest Forex desktop platform?
- How do I access my account statements and reports?
- Does Ally Invest Forex’s desktop platform support backtesting?
Margin & Leverage FAQs
- Can I trade on margin (or leverage) at Ally Invest Forex?
- What are margin and leverage?
- What are the margin requirements at Ally invest Forex?
- Is margin in forex trading different from stock trading?
- Are there disadvantages to trading on leverage?
- How can I prevent liquidation of my open positions?
- How do I change the leverage in my Ally Invest Forex account?
- Will I be notified if I am on margin call?
- How can I manage risk in volatile markets?
MetaTrader Platform FAQs
- Do I need to be logged into the platform for EA’s to trigger?
- How do I install an Expert Advisor?
- Where can I download the MetaTrader software?
- What lot sizes are available in the platform?
- Where can I download MetaTrader Mobile?
- Can I use the MetaTrader platform on my Macintosh computer?
- Where can I obtain my account reports?
- What ports do I need to have opened to run MetaTrader 4?
- How do I fix the "Waiting for Update" message on my charts?
- How can I change the default language?
- How do I zoom in or out of a chart?
- How do I change my chart type?
- How can I create Trend Lines and other Line Studies?
- How do I view the time frame toolbar?
- What time zone is used for charts and can I change it?
- Are there hours when the MetaTrader system is unavailable?
- How do I place a trade within the MetaTrader 4 platform?
- How do I close an open position?
- How close to the prevailing price can I place stop and limit orders?
- Do trailing stops remain active when I turn off my computer?
Rollover FAQs
- What is rollover?
- How are the rollover rates determined?
- Where can I find Ally Invest Forex's rollover rates?
- When is rollover applied?
- Can I avoid paying rollover charges?
- What is the difference between an intraday position and overnight position?
- How are positions rolled on weekends and holidays?
- Why do rollover costs widen at the end of the quarter or year?
Spot Metals FAQs
- What are the symbols for spot gold and silver?
- What are the trading hours for spot gold and silver?
- What is the minimum lot size for spot gold and silver?
- How is margin calculated for spot gold and silver?
- Is there a limit to the amount of gold or silver I can hold in my account?
- Can I hold positions over the weekend and major holidays?
- Is there an expiry date on spot gold and silver contracts?
Tech Support FAQs
- How do I clear the cache for Internet Explorer?
- What operating systems are supported by the downloadable ForexTrader Desktop platform?
- What are the system requirements for using ForexTrader Desktop?
- How do I download the ForexTrader Desktop software?
- What operating systems are supported by ForexTrader Web?
- What are the system requirements for ForexTrader Web?