FAQ - MT4 Trading

Account Opening

Can I only open a MT4 trading account?

It is not possible to only open MT4 trading account. Before opening the MT4 trading account, you are required to open a general account.

Does it cost any fee to open a MT4 trading account?

No, it is free to open an account.

What are the requirements for opening a MT4 trading account?

Once the applicant has successfully opened a general account and met the general account opening requirements, they will also be required to fulfill the following conditions:
- Have good knowledge aboutmargin trading, understands about the associated risks and its mechanism, and he/she will trade with his/her own responsibility and judgement
- Agree to the Terms & Conditions.
- 18 years old and above, and a responsible person.

How do I open a MT4 trading account?

If you haven't opened a general account yet, you can apply for a general account and a leverage account at the same time. Account opening can be done from our homepage using the register button or by clicking here. To open an account, please tick the "Open BPHK margin trading Account" option with "✔", carefully read and agree to the Terms of Use, fill in other necessary information, and finally click the "confirm" button.

Can a company open a margin trading account?

Yes, the company can open margin account.

I have already opened a genaral account. How can I open a MT4 trading account?

After logging in to the trading site, press "Account" → "Application Status" → "Account Opening Status".
Click "BPHK margin trading Account" option, and you will be navigated to the margin trading registration page. Once you have read and agreed to the Terms & Conditions, you may apply for the margin trading account.

How can I change my account information?

Account information is shared between general account and MT4 account.
Go to the trading site and click "Account" ⇒ "Edit Account Information" to process. For more information please check with General Account FAQ.

Installation

How do I install the MT4's PC version?

Please download MT4's PC version from the margin trading page of our website.
Then open the file and install it on your PC.
After the installation is completed, an icon will be displayed on the customer's desktop.
Once opened, you need to log in with your login ID and password.
The login ID is the last 6 digits of the customer code (the account number displayed at the upper left corner after login).
The password is the one you set when you opened the margin trading account.

How do I install MT4 for iOS and Android device?

Please click the MT4's iOS version or the Android version from the margin trading page of our website and download it from the App Store or Google Play.
Once downloaded, click on "Sign in to an existing account" to open the app.
After the server search screen appears, search for "BitPointHongKong - FX Live" and select it.
After that, you can log in by entering the MT4 login name and password.
The login ID is the last 6 digits of the customer code (the account number displayed at the upper left corner after login).
The password is the one you set when you opened the margin trading account.

Password

How do I change my password?

You can log in at the trading site and make changes by "Account " ⇒ "Account Information" ⇒ "Change MT4 Password". Please enter your current password and the new password. Re-enter the new password for confirmation. Finally, click "Update". Password must consist of letters (5 to 15 characters, upper case and lower case), symbols, and numbers.

I forgot my password, how do I reset my password?

If you forget your password of MT4 trading account, please follow the following procedure to request to reset your password.
Please login to our trading site, select Account Information and select Change MT4 Password. At the bottom of the screen, click the links right next to "*Forgot your MT4 password?".
When the window pops-up, input the mandatory fields. Input your Date of Birth and press "Get No." to receive a Verification code.
A verification code will be sent to your registered email, input the code found in your email in the form.
MT4 password must consist of letters (5 to 15 characters, upper case and lower case), symbols, and numbers.
Enter your Transaction PIN and click "Change". Please use your new password to login.
If you have any problems, please feel free to contact our customer support.

Is the login ID of MT4 the same as the login ID for the trading site (spot trading)

No. The login ID is the last 6 digits of the customer code (the account number displayed at the top of the login page after login).

Deposit and Withdrawal

How do I transfer the funds to MT4 trading accoun?

When depositing to a margin account, make sure that there is HKD balance in your general account. If there is no HKD balance, please deposit fiat currency or sell your digital assets to purchase HKD.
After logging into the general account, select "Transfer " → "Internal Transfer" in the trading site. Select transfer from "General Account" to "Margin Account". If you wish to transfer all the balance to the margin account, select "All Amount". If you want to transfer partial amount, select "Specific Amount" and enter the amount. Then click the "Confirm" button.
After confirming the details on "Fund Transfer Order Confirmation Screen", enter your transaction pin and click "Execute".

How to transfer funds from MT4 trading account to general account.

If you would like to transfer funds from the margin account to the general account, please login to the trading site, select " Transfer" → "Internal Transfer" on the trading page. Select transfer from "Margin Account " to "General Account". If you wish to transfer all the balance to the general account, select " All Amount", If you want to transfer partial amount, select "Specific Amount" and enter the amount. Then click the "Confirm" button.
After confirming the details on "Fund Transfer Order Confirmation Screen", enter your transaction pin and click "Execute".

Are there any fees for depositing to or withdrawing from the margin account?

No,it's free.

When can I withdraw sales proceed from MT4 trading?

You can submit the withdrawal request as soon as the trade has been settled.
Please log in to the trading site ⇒ "Deposit / Withdraw · Transfer" ⇒ "Transfer" Please transfer "MT request" from MT4 trading account to general account after transfer. ※ We will arrange the bank transfer to your beneficiary account within two business days (T+2).

MetaTrader4

Where can I login to MT4 margin trading?

Please go to the margin trading page of our website, and then download the mobile application, iOS version from the Apple store and Android version from the Android market/Google Play.

After that, open the mobile application, press "login to an existing account" option, and then you will be navigated to the page which you can search the server name. Please enter and select "BitPoint Global-FX Live" server. The last six digits of the customer code are the login ID (You can find the customer code on the top-left corner of the trading site). Please use the password which was registered when you applied for the margin account.

What is the difference between spot trading and margin trading?

Spot trading uses self-funds to exchange with the asset. Whereas for Margin trading, you can leverage your purchases with borrowed funds, and you will make a profit on the margin earned. Actual Bitcoin exchange does not take place. Our margin trading platform can be used to trade up to 25 times of your provided capital. Customers can also make short orders to sell a digital asset without actually owning it.

Caution: Margin trades are riskier than spot trades. We, therefore, advise you to use margin trading carefully and trade at your own responsibility.

What is spreads?

Spread is the difference between the bid price and the ask price of the same currency. We use a floating/variable spread.

What does it mean to "enable maximum deviation from quoted price" in the Order window?

In a volatile market conditions, the orders (market or limit) may execute at an unfavourable price, due to a sudden surge or drop in the market price. This is called a slippage.
In order to negate the risk of a slippage, you can enable the option "Enable maximum deviation from quoted price".
Using the drop-down menu▼, you can select the maximum deviation in pip value (0 to 10). You can directly input the number if the options are not available.
The order will not execute if the market price exceeds the maximum deciation.

What is stop out?

Stop out is an automated system that forces the settlements of all open positions if the unrealized net loss reaches a certain level.
For our company, if the customer's margin level falls below 100%, we have the right to liquidate your positions, without the obligation to obtain a consent from the customer.
If the margin level is below 100%, we will keep liquidating the positions until it recovers back to 100%. The details will be displayed in the comment column of the terminal window.
Please note that stop loss activation will automatically initiate without any previous notices.
If the margin level is over 99.95% and below 100.05%, the displayed margin level will be 100%. Stop out will initiate when the margin level is below 100% and it will be resolved when it is 100.000000%.
In the comment column of the terminal window, stop out execution percentage will be displayed as 100%; however, it is 99.999...% explicitly.
When the market price fluctuates drastically, there may be occasion where the stop out does not activate, and the losses may exceed the margin. In this case, customers will be required to deposit sufficient funds to resolve the issue.

What is alert notification?

We will send an alert notification (warning email) to customer's email address when the margin maintenance rate is below 120%.
Please be aware that alert notification (warning email) will be delivered once a day (during clearing period).
If the margin maintenance rage is below 120% as of the next trading day, an alert notification (warning email) will be sent once again.
Please be aware that the alert notification (warning mail) may be delayed due to technical reasons on the system or sudden fluctuations in the price, or may not be sent at all.
We would like the customers to be aware of these cases in advance, and please trade with sufficent margin.
Since alert notification are digitally sent over the email, due to the communication speed of the internet and a sudden change in the communication environment, the email may be delayed or not be sent.

Order and Trading

Is it allowed to do hedging (hold long and short position simultaneously)?

Yes, you are allowed to hold long and short positions simultaneously.

When is the settlement date?

It is the following day after the transaction day.

The settlement of the closed position will be executed the following day.

Where can I confirm my executed orders?

Executed and open positions are listed above the summary bar (gray line), in the trade tab of the terminal window.

Where can I check the order status?

Pending orders are listed below the summary bar (gray line), in the trade tab of the terminal window.

How to place a new order?

After logging into MT4, you can place the order in the following ways:
① Select "Tools" → "New Order" in the top menu, and the order window will pop up.
② Click "New Order" on the toolbar, and the order window will pop up.
③ In the Market Watch window, hover your mouse and right click on the currency pair you would like to trade with, select "new orders", and the order window will pop up.
④ Right-click on the chart you want to trade with, select "Trading" and then "New Order", and the order window will pop up.
⑤ Right-click on the chart you want to trade with and select "One-Click Trading". The One-Click Trading menu will be displayed. Please be noted that for One Click Trading option, a confirmation window will not be displayed.

How can I cancel or modify an order?

The limit order can be canceled or modified (price & quantity) before the order has been executed. The market order can be canceled before the order has been executed.
If an order has been executed, it cannot be canceled nor modified.
※If the execution and cancellation or revision occurred at the same moment, the execution will take its priority.

Is there any limit to the balance?

The total position balance which a customer can have is 300BTC.

When is the clearing period for margin trading?

The clearing period is from 15:00 (HKT) of the previous trading day to 15:00 of the today's trading day.

Is there any limit for lot size per order?

The minimum order unit is 0.01BTC, and the maximum order unit is 10BTC.

What is the minimum unit per order?

The minimum order unit is 0.01BTC . Trading volume can be increased in the increments of 0.01BTC. The maximum balance is 300BTC (Including the current lot volume held and the lot volume of the new order).

Please tell me the transaction / order time.

Trading / Ordering time is available 24 hours a day, seven days a week except for the maintenance time of 10 mins between 15:00 to 15:10 (Hong Kong time).
During maintenance, you can not do any dealings (order, contract, order cancellation / correction), only browsing will be possible.
There may be temporary maintenance on the weekends.
Please note that the demo trading service may carry out maintenance without prior notice.

What is a limit order?

Limit order is a type of pending order, which the order will be executed when the market price is below or above the client's specified price. According to our setting, each currency pair has its rule, the specified price must differ from the current market price by its specified range. Please confirm the details in the order window. For Buy Limit, the order will be executed when the market price falls below the specified price. For Sell Limit, the order will be executed when the market price rises above the specified price.

Also, when the market condition is unfavorable and the liquidity has decreased, even if a portion of the conditions for the transaction has been met, the entire order will be canceled by FOK. FOK order requires all requirements to be met to ensure that a position is executed at the desired price.

What is a market order?

It is an order method where a client places an order without specifying the price. When the order arrives to our server, the market price offered by the system will be your opening price. Please be aware that there may be a price difference between the customer's specified price and the actual opened price (i.e. slippage). Slippage may benefit or may suffer the client. However, if the client decided to use "enable the maximum deviation from quoted price" option, the order will be executed within the specified price range if a slippage occurred.

What is an OCO (One Cancel Other) order?

It is an order method to place both, take profit and stop loss orders at the same time. If one of the order has been executed, the other part of the order will be canceled automatically.

What is a stop limit order?

It is an order method where a client sets a predetermined stop order price. It instructs to buy above the specified price or to sell below the specified price. According to our setting, each currency pair has its rule, the specified price must differ from the current market price by its specified range. Please confirm the details in the order window. There are two types of order: Buy Stop and Sell Stop. Since the transaction will be executed as market order when the market price reaches the specified price, there may be a price difference between the customer's specified price and the actual opened price (i.e. Slippage).

What is IFD order?

It is an order method that consists of two steps, where the second step is only activated if the first order has been executed. The entry order of limit or stop, along with the closing order of take profit or stop loss will be placed simultaneously. The closing order will only be activated if the first condition has been established.

What is an IFD + OCO order?

It is a combination of IFD and OCO orders. The entry order of limit or stop, along with take profit and stop loss orders will be placed simultaneously. The closing order (i.e. take profit/stop loss) will remain dormant until the entry order has been executed.

What is a trailing stop order?

It is a type of stop loss order. The stop loss level will automatically follow the market price at a predetermined pip range. According to our setting, each currency pair has its rule, the specified stop loss price must differ from the current market price by its specified range. Please confirm the details in the order window. Trailing stop order is only activated if the client is logged on to the MT4 platform.

How to place a limit order and stop loss orders.

① Symbol: Select the currency pair to be traded. By clicking the drop-down ▼ on the right, other currency pairs can also be selected.
② Volume: After clicking the drop-down ▼ on the right, a list of predetermined volume will be displayed. You may choose the volume from the drop down, or to manually enter the quantity in the window.
※ Please make sure to double check the trading volume that you have inserted.
③ Type: Select "Pending Order".
④ Additional input boxes will appear below. Using the drop-down menu ▼, you may select from 4 types of order method: Buy Limit, Sell Limit, Buy Stop, and Sell Stop.
⑤ Please specify the price:
Buy Limit: Set the price lower than the current market price.
Sell Limit: Set the price higher than the current market price.
Buy Stop: Set the price higher than the current market price.
Sell Stop: Set the price lower than the current market price.
⑥ Please set the expiration date. If you do not set the expiration date, the order will be valid indefinitely until the trade has been executed or cancelled. = GTC
⑦ After confirming the order details, click "Place" button to execute the order.
Please be noted the under the Expire option, it has details about the restriction in price order. Client may not place an order with his/her specified price that is within the exclusion range.

How can I cancel my order?

Cancellation can be made if the order has not executed. Market orders will be executed instantly, hence order cancellation cannot be made. In the case for pending order, the trade will not be executed unless the market price reaches the specified price, hence cancellation can be made before execution.
① If you click the "trade" button in the terminal window, the list of orders will be displayed. When you click on the order that you wish to modify, it will be marked in blue. After selecting this order, right click and select "Modify or Delete Order".
② To delete an order, please click the "Delete" button (highlighted in yellow) on the bottom right corner of the order window.
③ After the order is received, the order confirmation screen will be displayed. Click the "OK" button to close the window. If the order has disappeared from the trade tab of the terminal window, cancellation was successful.

How can I change my order?

Changes can only be made before the order is executed. Market orders that have been executed can't be changed. In the case of pending order, the trade will not be executed unless the market price reaches the specified price, hence changes can be made before execution.
① If you click the "trade" button in the terminal window, the list of orders will be displayed. When you click on the order that you wish to modify, it will be marked in blue. After selecting this order, right click and select "Modify or Delete Order".
② From the order window, you may change the "price", "take profit", and "stop loss" values. If the input is valid, the "Modify" button will activate (turns blue). After confirming the changes that you have made, click the "Modify" button.
③ After modification have been completed, a confirmation window will be displayed. Please click "OK" to close the window.

Trading Terminal

What is Balance in the Terminal window of MT4?

It is a comprehensive reflection of the customers' asset balance, the realized profit & loss, and the swap charges.

What is Equity in the Terminal window of MT4?

Equity is the real time asset value of the client, which is the sum of the account balance and the unrealized net profit from any opened position.

What is Margin in the Terminal window of MT4?

It is the required amount of deposit that is needed to maintain a position.

The required margin is 50% (2X leverage), 20% (5X leverage), 10% (10X leverage) for the total transaction amount (assuming principal).

What is Free Margin in the Terminal window of MT4?

It is the value of equity minus margin.

What is Margin Level in the Terminal window of MT4?

It is the ratio of equity to margin.

Where can I check the executed order?

In the MT4 terminal window, under the "Trade" tab, you can confirm the order details. The information is displayed above the summary bar of account balance.

Where can I check the pending orders?

In the MT4 terminal window, under the "Trade" tab, you can confirm the order details. The information is displayed below the summary bar of account balance.

I modified my order, where can I check it?

Please confirm the order status on the "Transaction" tab of the terminal window. The order number of the settlement order is the same as the order number of the new order.

How can I confirm whether order cancellation is processed?

MT4 terminal window, under the "Trade" tab, if the order information has been deleted from this window, it means that the cancellation was successful.

Leverage

What is a leverage?

Leverage is the strategy to use borrowed funds from a broker to magnify the size of a trade. We offer a maximum leverage of 25 times, with the flexibility to decide from 2, 5, 10, and 25 times.
Note: Higher leverage can magnify your gains from a successful trading; however, it can also magnify your losses.

What leverage do you offer?

We offer leverage of 2, 5, 10 and 25 times.

Can I set different leverage for each position?

No. You can only select a single leverage for all orders that is traded with the account.

Can I change the leverage while holding a position?

Leverage multiples can't be changed while the order is held. Leverage can only be modified if there are no open trades. The pending request for changes to the leverage setting will take effect on 15:00 HKT every day. Please note that if you hold any position at 15:00, modification request will be cancelled.


Where can I check my current leverage?

After logging into the trade site, click "Account" → "Account Information" → "Leverage Multiple" to confirm the current leverage multiple.

I have made a modification request; however, the changes did not take place. Why?

The request will be processed daily at 15:00 HKT. Please be informed that if you hold any open trade at 15:00, the modification request will be cancelled. Therefore, in this case, please submit a request after the settlements of all orders.

If I request a change in leverage multiple while having open position(s), would the system automatically settle my position(s)?

Open positions will not be settled, and the leverage multiple modification request will be canceled.

I have requested the change in leverage multiple. Can I cancel it?

If it is before 15:00 HKT, you may resubmit the change request to your desired leverage, and it will be changed accordingly to the latest request.

Swap

How much is the swap fee?

Commission is not charged for margin trading. However, there is a charge for swap fee.

Regardless of having a short or long position, if you roll over the position to the next trading day since the transaction date or when the trade has been executed, we will charge a swap fee.

The following is the swap fee schedule:
BTC/USD: long position 0.01%; short position 0.08%.
BTC/HKD: long position 0.01%; short position 0.08%.
BTC/EUR: long position 0.08%; short position 0.06%.
BTC/JPY: long position 0.06%; short position 0.05%.

When will the swap be deducted from the balance?

The swap value will remain unrealized when the position is open, and the actual fee will be charged upon the settlement of the position. Therefore, if the order is not settled, it won't be reflected on the balance.

I do not have unrealized losses. However, if my margin level falls below 100% due to my swap fee, would it cause a stop out to occur?

Yes, stop out will occur. Losses from swap fee will be included in the calculation of unrealized net profit, which directly affects the current margin level.

Where can I check the swap payment amount?

It is displaed for each position held. It is shown under the Swap column, in the Trade tab and Terminal window.

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