Frequently Asked Questions
Mirror Trader and RoboX are multi-functional advanced trading platforms that provide users the ability to Auto-trade in the Forex and CFD markets, using advanced algorithmic trading strategies.
Trading Strategies are generated based on the client’s profile, which is assessed during the registration process and as part of the process of applying for an investment account.
An Investment Account refers to trading activities outside the scope of manual trading.
This means that trades are opened automatically by our Automated Trading Platforms on the trader’s behalf.
EuropeFX provides these products as a long-term investment option to clients that have little time available to trade manually or prefer to diversify their trading experience by adopting algorithmic strategies created by professional traders.
All our auto trading platforms are web based. This means that you can access your Investment Account from anywhere and from any device that supports a browser.
The use of Google Chrome is recommended for optimal performance.
Once you have been accepted as a EuropeFX client, you are may request access to our Investment Platforms.
Upon your completion of a brief questionnaire, the Portfolio Management Department will be able to determine if this service is suitable for you and provide you with an appropriate risk classification.
Yes, once you have added and enabled the preferred Strategy to your Portfolio, the Platform will operate 100% automatically. The option of closing trades and setting Stop Loss and Take Profit manually is available.
The initial deposit requirement for Mirror Trader is €2,000 and €10,000 for Robox.
In terms of trading volume, you may select to trade from 0.01 lot size per trade for RoboX and 0.05 lot per trade for Mirror Trader.
These investment products focus on trading the most active cycles and trends. These cycles and trends fluctuate in duration each year, and as a result, it may take a few weeks for your account to start showing potential returns.
The performance of each Strategy can be viewed or monitored in the historical performance environment, which is available within the Platforms.
There are no additional costs related to the use of Auto Trading Platforms with EuropeFX.
Yes, a separate MT4 account will be created and assigned to the Investment Platform of your choice, based on your risk preferences.
However, it is recommended to keep monitoring your account via the MT4 Platform since our commission fees are not embedded into the Investment Platforms.
This is subject to your risk classification and available balance.
By using the Mirror Trader platform, traders can view, analyze and evaluate signals provided by the strategy which are then executed in the trader’s own account.
RoboX has access to a large database of trading strategies; and in combination with a unique algorithm, is able to offer Packages of trading strategies which are constantly updated.
Both Products are based on Algorithms to provide an unrestricted and holistic trading experience.
Our Mirror Trader Platform is ideal for a smooth transition into the world of auto trading. It offers the choice of single strategies with an accessible initial investment capital.
Our RoboX Platform is aimed at more experienced Investors offering Packaged Strategies based on risk appetite and enhanced performance expectations.
No. Not all assets offered on the MT4 Platform are available on the Auto Trading Platforms.
The main advantages of Auto Trading are related to speed, accuracy, and reduced costs. Strategies are predetermined and are executed automatically.
The speed at which these trades are made is measured in fractions of a second, faster than humans can perceive. Also, trading with algorithms has the advantage of scanning and executing on multiple indicators at very high speeds, offering more opportunities and better prices.
The accuracy of an order executed on an automated system removes the margin for error that exists on manual trading, for example accidentally putting in the wrong trade, buying the wrong currency pair, or for the wrong amount etc. Similarly, automated trading saves time. Traders don't need to spend as much time monitoring the markets, looking for the right opportunity.
One of the biggest advantages of auto trading is the ability to remove human emotion. This is an advantage because emotions such as fear or greed can lead to irrational or spasmodic decisions statistically resulting in an undesirable outcome.
Another important advantage of our Auto Trading Platforms is the ability to Back Test strategies. Traders can choose to evaluate the past performance of every available strategy, before adding it to their portfolio.
General - Regulations
EuropeFX is owned and operated by Maxiflex LTD.
Maxiflex Ltd, which is registered in Cyprus, is authorized and supervised by the Cyprus Securities and Exchange Commission (CySEC) and is registered under the CySEC’s Register of Cyprus Investments Firms (CIF), with CIF Number 258/14. The Company is registered under the Department of Registrar of Companies of Cyprus with Company Registration Number HE 327484.
MAXIFLEX LTD is registered with multiple groups, for further information please click here
Maxiflex LTD is a regulated broker with STP trade execution. For further information please click here
The term AML (anti-money laundering) specifically refers to all policies and legislation that force financial institutions to proactively monitor their clients in order to prevent money laundering and corruption. These laws also require both that financial institutions report any financial crimes they find and that they do everything possible to stop them. Due to these measures, we cannot alter or make any changes/amendments when it comes to your funds.
All deposits must ALWAYS go back to the original source they came from.
Any 3rd party deposits made; we kindly ask that you contact us prior to making such deposits for us to provide you with options.
Getting Started - Support Department
- You need to provide us with a valid copy of your passport (ID card or driving license)
- A recent utility bill or bank statement (dated < 3 months) and your National insurance number for UK clients (for other countries, your Tax identification number)
We need these documents to verify that the information you provide is valid, since we are a financial institution, we are required to run an AML and Antiterrorism funding of our clients.
After uploading your documents, we need up to 24 hours to verify your information, usually your account is active 30 minutes after we have received all documents during office hours.
You can start trading with our web-based traders EUROTRADER WEB and MT4 WEBTRADER. However, you can choose to download the MT4 application if you wish to have more options.
Yes, you can provide us with a copy of your ID card, however it is preferred to upload your passport, if you are based in the UAE or Africa you are obliged to upload your passport.
You can request a statement from your bank or from your local city hall.
You can contact Customer Support Department for any questions you may have. For more information please click here.
The only documents that are required after, are proof of payments if made by bank wire or a copy of a new credit card used, and the declaration of deposit sent to you digitally after every deposit.
You can update your personal information by contacting our support team since we would need new documentation proving these alterations.
You can reset your password in the following simple steps:
1. Go to login page
2. Enter your email
3. Click on the forgot password ‘button’
4. Open the email link that has been sent to you
5. Click on the Reset ‘button’
6. Type in the new password
Please make sure that you keep your password in a safe place and do not disclose it to any third parties.
You can change your password in 3 simple steps:
1. Simply log into the client area
2. Click on the password ‘button’
3. Enter the current password, followed by the new password
Simply click the UNSUBSCRIBE button at the bottom of all our emails.
The questionnaire will give us an understanding of your experience in the financial markets and your knowledge of the risks involved.
You will be unable to retake the questionnaire, please make sure that the information added are accurate.
You must be 18 years or above to open an account with us.
Trading Accounts - General Information
In your client area on the dashboard there is a button NEW under the LIVE & DEMO accounts.
As soon as your documents have been approved and your account has been opened, you can start trading.
You can open the account directly from the client portal area. The demo account expires 30 days from the day of registration.
No, you can not change the base currency of your account, however you can open a new account at any time with the new base currency of your choice.
No, you cannot lose more than the amount you deposited due to negative balance protection.
All our clients’ funds are kept in segregated European accounts. Meaning that the clients funds are kept separate from the company’s funds.
There are several ways to monitor your trading account(s).
– MT4 (the trading application)
– MT4 iOS & Android
– eFXGO (mobile iOS App)
– Dashboard on the client area
– Please make sure you are using the correct username and/or password.
– Please make sure you have selected the correct trading server.
We will only proceed with the closure of the account once the client has informed us.
If the client did not trade or conducted any trade during three calendar months, then the account status will be “inactive”, and the Company has the right to charge a fixed payment of 50(GBP/USD/EUR) per month. You can find full information on our Term and Conditions.
We NEVER close your positions, this is up to you, you can close them manually or by placing a stop loss or take profit.
You contact your dedicated account manager and schedule a session with your analyst/ education specialist.
The rates represented come from our Liquidity providers.
Absolutely NOT, the screen share is for display purposes ONLY.
In the Futures market, the transition of an expiring Futures contract to a new Futures contract is called a Rollover. The client can choose either to close their position or to Rollover their position to a future date based on the new contract price, until the next cycle of expiration. A P&L adjustment will apply according to the spread at the time of rollover and price of the old contract and the new one. Trades which are not rolled over will be automatically closed upon expiry and Profit/Loss at the time of closing will be adjusted with trading account.
It means the date on which the existing trades on old CFD contract can be closed, however, new trades on Old CFD contract cannot be opened. New trades can be opened on New CFD contract which is available for trading.
The “expiration date” is the last day on which specific Futures CFD will expire. All the existing open trades will be closed by company on upon expiry and Profit/Loss at the time of closing will be adjusted with trading account.
No. Although, when a position rollover is about to take place, a negative or positive adjustment of the P&L will apply according to the spread at the time of rollover and price of the old contract and the new one. This adjustment will appear in the client’s trading account as ‘Rollover adjustment’ and will be credited/debited on the clients’ trading account equity, something that might lead to Margin-call or Stop-out.
- Open the MetaTrader 4 Terminal and go to File/Login.
- In the “Login” field enter the login ID, which you were given when you opened the Live MT4 account.
- In the “Password” field enter your password.
- From the “Server” dropdown choose EuropeFX Live
- Then press “Login”
- if you do not have the server EuropeFX Live:
- go to file, open an account, in add server field type EuropeFX Live (caps sensitive) press scan
– select the new found server EuropeFX Live
– click next
– log in to existing account
– enter user/password
– log in
The Web Trader platform is compatible with all modern browsers.
Please keep in mind if you are using a version prior to Windows 7 to update your JAVA and FLASH for full compatibility.
- For Windows 7 and above is required.
- For Mac You will require MacOS X and above.
Go to the “Market Watch” window, right-click and choose “Show All” to view all available product categories.
MT4 offers you several different ways of opening a trade, including:
- The Market Watch window on the left-hand side of the platform.
- The “Tools” tab on the top menu of the platform.
- The F9 button on the keyboard.
- One – click trading BUY / SELL button on the Charts (the first time you will have to accept Terms and Conditions of One – Click trading, keep in mind it won’t open your trade, so you have to re click after accepting the Terms and Conditions)
Please perform the following steps:
- Choose “Insert” > “Technical Indicator” on the top menu;
- Or you may insert “Technical Indicator” via “Navigation”.
In the Terminal window at the bottom you will see several tabs – Trade | Exposure| Account History etc.
– select the ‘Account History’ tab, right-click in the open space and select ‘All History’ or select the time period (start date – end date). You now can see all of the transactions performed on the account during the requested period.
Yes, however they are 3rd party software we do not offer support on these.
Please make sure you hold enough funds (free margin) to place the specific trade.
Depending on your leverage and the volume you wish to trade, the margin required to place a trade will vary.
Please make sure that your account is active (KYC, extra requested documentation)
Please keep in mind that the symbol you are trading is open on the specific market hours.
Opening a Position will result in a cost of commissions. You can find full information on our Contract Specifications.
Overnight pricing = swap (refer to FAQs about swap definition and formula)
In addition, swap per symbol can be found if you click on the symbol in the market watch and then right click on the specifications.
The MT4 app is a full-featured trading platform allowing you to trade, use technical indicators, set up trade alerts and more.
Yes, they are the same on all the platforms. You can login using your MT4 account number and your password is the same as your Client area password.
Go to the top menu and choose View -> Languages -> e.g. German and then restart the software and the user language will be in German.
Yes, you can contact your dedicated account manager and schedule a session with your analyst/ education specialist.
Trading Tools – Calculations
Margin is the required amount in the base currency of the trading account needed to open or maintain a position.
Margin calculation for forex = Number of Lots *Contract size/Leverage
Margin calculation for CFDs = Number of Lots *Contract size*Opening Price/Leverage
Margin level calculation = Equity/Margin * 100%.
Free margin are the available funds that you use for opening new positions, or for maintaining existing positions.
Free margin calculation = Equity – Margin
*The Contract size on every CFD differs. You can find full information on our Contract Specifications
Stop loss is an order for closing a previously opened position at a price less profitable for the client than the market price. Stop loss is a limit point that you set to your order. Once this limit point is reached, your order will be closed.
You can activate it either while opening the position (new order->stop loss) or after the position is opened by the option modify order.
Take profit is an order to close a previously opened position at a price more profitable for the client than the market price. When the take profit is reached, the order will be closed.
You can activate it either while opening the position (new order->take profit) or after the position is opened by the option modify order.
Slippage hardly ever occurs if you trade with us. However, especially when important economic news is released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.
If a trade is kept open overnight, then there is a swap/rollover fee/income calculated on that position. From Wednesday to Thursday swap is charged at triple rate.
Depending on the method of deposit, Credit/Debit card and E-wallet are usually done straight away, bank wire can take 24 – 48 hours.
All deposits made during the weekend/bank holidays will be processed according to the standard processing times for each payment method.
You can, however there will be extra documentation required as per AML checks.
No, 3rd party transactions are prohibited.
The minimum amount to withdraw is 1 EUR/USD/GBP, the maximum is the available equity you have on your account.
YES, you can place a withdrawal request whenever you want, please bear in mind that should you have any open trading positions, this might affect your withdrawal.
The withdrawal request needs 24 hours to be processed from our side, then depending on the method of deposit, we refund the exact same way as your deposit, credit card transactions usually take up to 48 hours, bank wires can take up to 10 business days.
No, 3rd party transactions are prohibited due to AML guidelines.
YES, there is a transfer button on your dashboard.
NO, if you deposited via credit card , we will always refund your credit card, should there be any profits made however, these will be sent via bank wire and therefore we ask that you always update your bank information on the client portal area.
On the Withdrawal part of the client area, you can click on cancel next to the request if it hasn’t been processed yet.
There are multiple reasons this can happen, either there are insufficient funds due to open positions, or incorrect bank information, in any case we will always contact our clients and inform them accordingly.