iPromarkets is a trading domained licensed by Paxton Tek CY limited. iPromarkets is an investment service specializing in the reception and transmission, the ancillary services of granting credits or loans to clients, and foreign exchange services in connection with the provision of investment services.
FAQ - About iPromarkets
iPromarkets is an STP Broker. Straight through Processing (STP) means that all information about markets are provided by liquid providers (banks ot other brokers). This means that there is no conflict of interests between client and broker.
iPromarkets is only receiving renumeration for the provision of margin to the end customer, and therefore is not receiving benefits from any potential losses of the client.
iPromarkets is a domain operated by Paxton Tek CY limited to offer the investment services of:
- Reception and transmission of orders in relation to one or more financial instruments.
- Execution of orders on behalf of clients.
Ancillary services of:
- Safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management
- Granting credits or loans to an investor to allow him to carry out a transaction in one or more financial instruments, where the firm granting the credit or loans is more involved in the transaction
- Foreign exchange services where these are connected to the provision of investment services
- Investment research and financial analysis or other forms of general recommendation in relation to the following financial instruments:
- Transferable securities
- Money-market instruments
- Units and collective investment undertakings
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to securities, currencies, interest or yields, or other derivatives instruments, financial indices or financial measures which may be settled physically or in cash.
- Options, futures swaps, forward rate agreements and any other derivative contracts relating to commodities that must be settled in cash or may be settled in cash at the option of one parties (otherwise than by reason of a default or other event) *
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled that they are traded on a regulated market or/and an MTF.
- Options, futures, swaps, forwards and any other derivative contracts relating to commodities, that can be physically settled not otherwise mentioned in paragraph 6 of Part III and not being for commercial purposes, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are cleared and settled through recognized clearing houses or are subject to regular margin cells.
- Derivative instruments for differences
- Financial contracts for differences
- Options, futures, swaps, forward rate agreements and any other derivative contracts relating to climatic variables, freight rates, emission allowances or inflation rates or other official economic statistics that must be settled in cash or may be settled in cash at the option of one of the parties (otherwise than by reason of a default or other termination event), as well as any other derivative contract relating to assets, rights, obligations, indices and measures not otherwise mentioned in this Part, which have the characteristics of other derivative financial instruments, having regard to whether, inter alia, they are traded on a regulated market or an MTF, are cleared and settled through recognized clearing houses or are subject to regular margin cells.
* This financial instrument is provided only for foreign exchange services where these are connected to the provision of investment services.
iPromarkets understands how essential the security of your funds are. A strict adherence to financial guidelines has been implemented both internally and externally, with safeguards built within the system to ensure an efficient trading experience.
Paxton Tek CY limited was founded by a group of professional traders, investment managers and software engineers in 2020.
iPromarkets offers 4 types of trading accounts including Demo, Standard, VIP and Platinum Accounts.
From novice to professional, iPromarkets services all levels of Forex traders. To ensure the most effective trading experience 24/5 multilingual support is available. iPromarkets provides easy to use tools and a flexible platform to ensure all your online trading needs are met.
FAQ - Account information
Opening an account with iPromarkets is easy. Simply click on the “Open Trading Account” link and fill in the required information. Once your account has been successfully created, you will need to send in documents to be verified in order to complete the registration process. These documents can be faxed, scanned, or emailed. As soon as your documents have been approved, you will be able to fund your account and begin trading.
The following documents are required to open an account:
- An identifying document such as a passport, driver’s license or official ID
- Proof of Address such as a utility bill or bank statement (Must be no more than 6 months old)
After registering, you will receive a welcome email with a verification link. Please check your email and follow the link. If the verification link does not work, please try copying and pasting the link into your browser’s address bar. If this does not resolve the issue, please contact the iPromarkets support team via chat or email at: email@example.com
iPromarkets accepts corproate accounts only after undergoing and passing a rigorous compliance process. If you are interested in applying, please contact firstname.lastname@example.org for more information.
Yes. For more information, please contact email@example.com
To change your account details, please contact your Client Relationship Manager or a member of our support team. You can email us at firstname.lastname@example.org
iPromarkets DOES NOT charge any commision or trading fees on your transactions. BRAND is compensated for its services through the Bid/Ask spread.
iPromarkets does not deduct taxes from clients accounts. It it the individual client’s responsibility to handle his or her own tax obligations in accordance with local law.
All open positions are automatically rolled over or swapped over to the next business day. Traditionally, all spot trades in the Forex market are performed for a period of two working days (starting when the delivery of the transaction takes place). In order to avoid the delivery of the trade, the positions are automatically closed for the original trade date and reopened for the next trade date. To give the maximum advantage to our clients, the open and close rates of the rollover are kept the same as the open position rate. A premium is then added or subtracted based on the difference in interest rate between the two currencies being traded.
No. iPromarkets does not manage funds for its clients, as this may create a conflict of interest. In order to remain 100% impartial, we do not manage funds. However, you will be assigned a Client Relationship Manager to help you while you manage your investments,
Clients can trade using a leverage of up to 500:1, depending on the asset they wish to trade and the size of the trade. Leverage of 500:1 means that a client is able to open a position, which is up to 500 times the size of his or her deposit. For example, if a client has deposited $1,000 he or she will be able to open a trade up to $500,000 in value.
It is worth keeping in mind that Foreign Currency & CFD trading carries a high degree of risk and may result in serious financial loss. Foreign Currency & CFD trading is not suitable for everyone. The high degree of leverage and volatility involved in Forex & CFD trading means that transactions can result in heavy losses as well as significant gains. We recommend that you trade with extreme caution and care. For help and guidance, make sure to take full advantage of all our services and highly trained support team. We also have a comprehensive library of educational resources available on our website.To help minimize potential losses, we also provide essential trading tools such as stop loss orders. However, such tools do not remove the significant element of risk that is involved in forex trading. To learn more about the risks involved with Forex & CFD trading, please visit the risk disclaimer page.
Brokers follow laws and regulations, and must process the identification and verification of clients. Enough information from clients must be recieved to monitor ongoing business relationships due to the Anti Money Laundering policy, this information is necessary for verification.
Trading hours vary between instruments. For further information about the trading hours, please visit the Trading Tools page.
FAQ - Deposits & Withdrawals
iPromarkets accepts a wide variety of payment options, such as:
- Credit/ Debit card (Visa, MasterCard)
- Wire Transfer
For a full list of payment options please login to your account and go to the deposit page.
The minimum deposit amount to open an account with iPromarkets is $100/€100/£100.
The time it takes for funds to appear in your account is dependent on the payment option used:
- Credit / Debit Cards take approximately 24 hours to process (from time of receipt)
- Wire Transfer Deposits take approximately 1 – 2 business days to process (from time of receipt)
In order to withdraw funds, you can either log in to your account and make a withdrawal by following the instructions or fill out a withdrawal request form. You can also scan and email the request form to: email@example.com. In order to process your withdrawal request in a quick and efficient manner, please refer to the following guidelines:
- Withdrawal requests are usually processed within three business days of receipt of all required documentation.
- Funds can be transferred directly to your bank account by wire transfer or returned to your credit card. However, a withdrawal can only be made using the exact same method you used for depositing. For example, if you deposited using a specific credit card, your funds can only be returned to that same credit card.
- In order to withdraw funds from your account you must maintain your margin requirements in case you have open positions. If you request a withdrawal of funds from your account and we cannot comply without closing some part of your open positions, we will not be able to fulfill your request until you have closed sufficient positions to enable your withdrawal.
- Please Note: In compliance with international anti-money laundering regulations, iPromarkets is allowed to transfer funds only to a bank account or a credit card bearing your name which was used for your initial deposit. The credit card copies should be provided upon registration and approved by iPromarkets compliance department.
It is important to iPromarkets to ensure your funds are transferred promptly and efficiently. Regular money transfers take approximately three to six business days for approval; however, please keep in mind that there are several factors which might affect the speed in which your account is credited/ debited. These factors include, but are not limited to, the specific service you use to wire/ request funds.
Approved wire transfer withdrawals are forwarded to our bank on the day of their approval, and are usually sent out from our bank the same day. Wire transfers often make their way between several banks in several countries, and this can take a little longer, as foreign financial institutions usually require a few working days to remit funds around the world. Once processed, for any withdrawal via bank wire transfer or credit card, please allow up to 7 business days for the funds to reach your bank account. Please Note:
- In compliance with international anti-money laundering regulations.
- iPromarkets only allows funds to be transfered to the bank account or credit card bearing your name which was used for your initial deposit.
- The credit card copies should be provided upon registration and approved by iPromarkets compliance department.
Your Account Manager is ready to help you with any questions you might have. To obtain a quick response, you can reach your Account Manager via email or telephone.
If your Account Manager is unavailable, our support team will be on hand to answer all questions. There is always a staff member available to take care of all your needs. Feel free to contact us anytime at firstname.lastname@example.org
FAQ - Trading Questions
iPromarkets has 3 trading platforms available:
- MetaTrader 4: take advantage of one-click, at-best order execution, advanced technical analysis and unmatched automation capabilities!
- MT4 WebTrader: a user friendly web platform, which synchronizes all trades with your MT4 account.
- Mobile &Tablet Trader: a tablet and mobile optimized trading platform fully synchronized with your MT4 account.
To learn more about the trading platforms, please visit the Trading Platforms page.
The recommended PC requirements are:
- Processor: Intel Pentium IV 3.0GHz
- Memory: 512 MB RAM, or higher
- Monitor: A minimum resolution of 800×600 pixels
- Operating system: Microsoft Windows XP, Windows 2000
- Web browser: Microsoft Internet Explorer 6.X
- Internet connection: Broadband internet connection with a min 1.5 MB download speed Note: Systems that do not meet these requirements may experience limited functionality.
Margin call is at 60% of margin level. If you reach margin call, then you will be addressed either to close some of your open positions or make deposit to strengthen your current open positions.
Stop out is at 40% of margin level. If your margin level decreases to 40%, your positions will start automatically closing. First are always closed positions with the highest loss.
A Trailing Stop is a stop-loss order that automatically adjusts itself as the market rate moves in the direction of your open position. The trailing price literally trails behind rising prices, allowing you to capture more profits while ensuring that if prices suddenly drop you are still protected by the automatic Stop-Loss order.
Important Note for MetaTrader 4 Platform: Since Trailing Stop works on the client terminal side, unlike Stop Loss and Take Profit that work on the server side, it won’t work if the client terminal is closed. If the client terminal is closed, only the Stop Loss that was placed by Trailing Stop before the terminal was closed can trigger.
The Foreign Exchange market (Forex or FX) is the largest and most liquid financial market in the world, with a daily turnover volume of roughly 4 Trillion US Dollars. Forex trading is the buying and selling of one country’s currency against another. To learn more about the Forex market, please refer to the Forex page.
The spread is the difference between the bid price (selling price) and the ask price (buying price). Example: If the quote for the EUR/USD pair is 1.2910 against 1.2913 then the spread is 3 pips.
Pip is an acronym for Price Interest Point. This represents the smallest value of measurement for Forex currencies.
Stop Loss orders are used to reduce risk by closing a losing trade once a market passes a trigger value pre-determined by the trader. iPromarkets will do its best to fill your trade at the price requested. However, because the order will close your trade at the best available price once activated, the Stop Loss is exposed to a gapping market. This means iPromarkets cannot guarantee a Stop Loss.
The Forex market is open for trading 24 hours a day, five days a week. The market opens on Sunday evening at 22:00 GMT when Asian markets open, and concludes on Friday night when the New York markets close.
A rollover is when interest is paid or deducted from open positions. Trading currencies always involves two different currencies with their own individual interest rate. When you buy a currency that has a higher interest rate than the sold currency, you will be paid interest.
However, when you buy a currency with a lower interest rate than the sold currency you will pay interest, and money will be deducted from your account. A rollover applies only to overnight trades.