Questions about Elite Capitals
Elite Capitals is the leading True ECN forex broker in Europe. The company was founded in 2007 with the vision of providing fair and transparent forex trading to active traders. Elite Capitals is dedicated to bring retail investors and traders in Europe and abroad solutions previously only available to professionals and large global investment banks. For additional information about Elite Capitals please visit the About Us page.
Elite Capitals is a privately owned Europen based company with headquarters in London. Elite Capitals management team is comprised of individuals with over 20 years experience in derivate products. Elite Capitals founders were instrumental in the success of Europe’s largest CFD and Forex provider.
Elite Capitals is regulated by ESIC in Europe and holds a financial services licence 335692. Elite Capitals complies with ESIC capital adequacy requirements and conducts ongoing compliance RSAits of internal procedures and risk management.
Elite Capitals holds client money in Segregated Client Trust Accounts at Westpac Banking Corporation and National Europe Bank (NEB). Both banks are AA rated Europen banks.
Elite Capitals has two MetaTrader 4 account types, a standard account and our market leader, True ECN account. Elite Capitals does not charge a commission on standard accounts but instead marks up the spread by 1 pip above the Inter-bank rate received from our liquidity providers. Elite Capitals True ECN account shows the raw inter-bank spread received from our liquidity providers, on this account we commission of $7 per standard lot round turn.
Elite Capitals allows clients to open an account with as little as USD $200 or currency equivalent.
Elite Capitals offer flexible leverage options ranging from 1:1 to 1:500. You can change the leverage on your trading account via your Client Area.
Elite Capitals allows you to open multiple trading accounts. You can open an additional account via your Client Area.
The opening and closing times of Elite Capitals prices are:
Opening time: 00:01 MetaTrader 4 Server Time(Monday)
Closing time: 23:57 MetaTrader 4 Server Time( Friday)
Please note the times of certain instruments may vary, all trading times can be found in our product specifications.
Elite Capitals rollover occurs at 00:00 MetaTrader 4 Server Time.
To align the daily chart candles with New York close (5pm ET) Elite Capitals server time and charts are GMT + 2 or GMT + 3 when daylight savings is in effect.
The table below outlines the dates on which the server time is changed to reflect daylight savings each year.
Year DST Commencement Date DST Ending Date
2018 11th March 4th November
2019 10th March 3rd November
Daylight saving time begins at 2 am on the second Sunday in March and ends at 2 am on the first Sunday in November.
The trading hours for Gold and Silver (XAUUSD and XAGUSD) are:
• Opening time: 01:00 MetaTrader 4 Server Time
• Closing time: 23:57 MetaTrader 4 Server Time
Elite Capitals offers extensive on-line education, in addition we regularly conduct educational webinars on a variety of topics. Webinar dates and times are published on our website.
Elite Capitals offers over 60 currency pairs, including cryptocurrencies.
Elite Capitals also offers CFDs in precious metals, commodities, indicies, futures, shares and bonds
Elite Capitals offers clients several ways of depositing funds, including but not limited to:
• Bank / Wire Transfer
• Credit Card
Our funding page provides further information about each method that we offer.
Online deposit methods such as cards, Paypal, Neteller and Skrill will appear instantly in your trading account.
Domestic wire transfers and Bpay normally take one to two business days. For international bank transfers, please allow up to three to five working days.
Please submit your withdrawal request via your Client Area. All withdrawals received before 12:00 Midday AEST / AEDT will be processed the same business day. Our full withdrawal policy can be found in our Withdrawals Page
Yes, you are able to withdraw more than your initial deposit will be paid back to your credit card however you must provide your full credit card number to our accounts department in order for us to do so.
Opening an account is simple. Click on the Open a Live Account link and complete your application form.
Once your on-line application form has been approved by our accounts team you will be emailed your trading account login details and password.
Under the Europen Anti-Money Laundering and Counter Terrorism Financing Act 2006 Elite Capitals is required to verify your identity client before opening they open a trading account.
Identification must be provided in the form of photo ID and proof of address to verify your identity.
• Must be clear and visible
• Must be issued by a government agency
• Name, Signature and Expiry Date must be clear
Proof of Address
• Must not be older than 3 months
• Must show the same name and address as your account application
Our anti-money laundering policy contains further information regarding our identification requirements.
No, IC Markets does not pay interest on account balances.
Elite Capitals does not accept US clients. US CTFC regulation prevents US clients from trading with brokers outside the US. Elite Capitals complies with International and Europen regulations.
Yes, we fully allow both hedging and scalping strategies. Our spreads and trading conditions are the preferred choice of many day traders and scalpers globally.
Elite Capitals is not able to open new positions over the phone, however in the case you are not able to close out positions please email our support team and we will be able to take a verbal instruction from you.
No you will not be charged any account inactivity fees.
While demo accounts and live accounts provide similar trading experiences, the demo accounts are used predominantly for practice purposes only, and are not a guarantee of the same trading results as a live account.
Forex or the "Foreign Exchange market", is the largest financial market in the world, with a daily average turnover of approximately US$3 trillion. Forex trading is the simultaneous buying of one currency and selling of another. The price of currencies is floating and dependent on supply and demand. Foreign Exchange is always traded in pairs, for example EUR/USD or RSA/USD.
Making money trading forex involves buying lower and selling higher or selling higher and buying back lower, using leverage means that you are able to deposit a smaller amount of money to achieve the same buying power as you would have if your bought and sold the currencies outright.
In this example Mary deposits $5,000 into her forex trading account and nominates the leverage on her account to be 1:100. As a result of leverage Marys buying power on her $5,000 deposit becomes $500,000. Mary decides to BUY 0.1 lots of the RSA/USD par at a price of 0.99802, 3 days later the price of the RSA/USD is 1.04069 and Mary decides to close her position. Marys profit is calculated as (1.04069 – 0.99802) 426 pips. As Mary opened a position of 0.1 lots Mary made a profit of $426 or $1 per pip.
Of course should the RSA/USD moved against Mary below the opening price of her trade to a level of 0.97802 Mary would have incurred a loss on the trade of (0.99802 – 0.95542) 426 pips. As Marys positions size was 0.1 lots Mary would have incurred a loss of $426 or $1 per pip.
Forex is said to be one of the fairest and most transparent markets on earth this is mainly because of the large amount of market participants and sheer size and number of transactions. There is not one single country or bank that can completely control the direction of a currency.
There is no one central location of the Forex Market, unlike the stock and futures markets Forex is not traded on an exchange but it is traded on an Over-the-Counter (OTC) basis with no central exchange between Banks, Governments, hedge funds and private investors. The forex market is open 24 hours a day 5 day per week.
The main participants in the Forex Market are Central Banks, Commercial Banks and Investment Banks, however in recent years since the advent of the internet accessibility to the Forex Markets has increased which has resulted in an increase in the number of participants. These day’s participants also include large multinational corporations, money manager, registered dealers, money brokers and private investors.
The Forex Market is a 24 hour market, Forex trading commences in Wellington, New Zealand and moves around the globe as business days begin in each financial centre. The major global financial centres where most forex trading takes place are Tokyo, London and New York. The forex market opens on Sunday at 10:00pm (GMT) and closes on Friday at 10:00pm (GMT).
The most liquid currency pairs are those from countries with politically stable governments and well respected central banks. The most popular currency pairs those that are paired with the US Dollar these are nicknamed the ‘majors’ and account for around 85% of transactions. The most commonly traded pairs are the EUR/USD, USD/JPY, GBP/USD, RSA/USD, USD/CHF and USD/CAD.
There are a variety of fundamental and technical aspects that can cause an exchange rate to move. The most notable influences include interest rates, inflation and political stability. Sometimes governments will buy or sell a currency in an effort to influence its value with the view of having a broader effect on the country’s economy. This is known as Central Bank intervention and can have a significant impact on the value of a currency. Given the size and diversity of participants there is not one single factor that can influence the forex market for any significant length of time.
There are a variety of risk management strategies that forex traders can use. The most common form of risk management is the use of stop loss and limit orders. Stop loss orders can be set within the MetaTrader 4 platform and are often used force the closure of a position at a predetermined price in order to limit any potential loss. Limit order work in much the same way as Stop loss orders however they allow a restriction to be placed on the maximum price paid.
Forex Traders use a variety of trading strategies based on technical and fundamental analysis. These days technical trading is becoming increasingly popular traders are using a variety of technical indicators such as trend lines, support and resistance levels and numerous other methods to identify short to medium term trading opportunities. Some traders choose to use fundamental analysis which revolves around interpreting economic information including news, government reports and sometimes even rumour. Often it is however elements outside of technical and fundamental analysis that have the most dramatic effect on currency prices, this includes events such as Central Bank intervention, interest rate changes, political change or even war.
No, trading forex has never been cheaper and more accessible. Traders can now trade on institutional grade pricing with a deposit of as little as $200 and leverage of up to 500:1. It is however important to remember that although trading on leverage can maximise profits it can also amplify losses.
If you cannot see all the instruments in the market watch window, simply right click your mouse in the market watch area and select ‘show all’.
‘Trade Context is Busy’ is a common MetaTrader 4 error, the error occurs because MetaTrader 4 cannot process multiple requests at the same time, to fix this error simply close and open your MetaTrader 4 trading platform again. Please read our MetaTrader 4 error code guide for which outlines common MetaTrader 4 error messages.
The chart time on MetaTrader 4 and MetaTrader 5 pltaforms reflects server time, which cannot be changed. For cTrader platform however, you may set the time as per your local timezone.
Current swap rates can be found on our Blog Swap Rates page. Swap rates can also be found within the MetaTrader 4 platform, simply go to the market watch and right click on an instrument and select Specifications. A new window will then open and the swap rates will be displayed.
If you hold open a position over Wednesday night the amount added or subtracted to your account as a result of the swap rate charged is three times the usual amount. Triple swap rates are charged in the roll-over period on Wednesday night to account for the settlement of trades over the weekend where no swap rates are charged due to the market being closed.
Demo accounts will expire after 30 days of inactivity. If the demo account is still active, check that you are using the correct account number, password and server which can be found in the email you receive when you first open the account. Alternatively, you may check your platform credentials using secure client area.
The ‘invalid account’ error occurs when your username or password is incorrect. This can also occur if you have selected the wrong server address. Please check your account details and try again.
In order for Expert Advisors to function on MetaTrader 4 you must click on the expert advisors button in your trade terminal to enable this feature.
In forex the spread is the difference between the BID and the ASK price. In order to ‘go long’ you would submit a BUY order and trade on the ASK price, if you intent to ‘go short’ you would submit a SELL order and trade on the BID price.
Elite Capitals has two account types, a standard account and our market leading True ECN account. Elite Capitals does not charge a commission on standard accounts but rather marks up the spread by 1 pip above the interbank rate received from our liquidity providers. Elite Capitals True ECN account shows the raw interbank spread received from our liquidity providers, on this account we commission of $7 per standard lot round turn.
Elite Capitals supports the trading of Micro lots. A micro lot in MetaTrader 4 is represented as 0.01 which is equivalent to 1000 units of the base currency.
Trading over the internet on the world’s most popular trading platform MetaTrader 4 is easy. Once you have downloaded and installed the trading platform simply login and double click on an instrument in the market watch screen. In the order ticket that appears enter your desired trading volume then click on ‘buy market’ or ‘sell market’ a market execution order will then be processed. The MetaTrader 4 platform will automatically fill your order providing there are sufficient funds in your trading account. Your open position will appear in the trading terminal and the profit / loss and margin will be calculated in real time according to price movement.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position and the leverage applied to your trading account. If you do not have sufficient free equity available you will be unable to open a position on the trading platform. The free margin amount shown in the trading platform is the amount you have available to use should you wish to open additional positions.
Margin is calculated using the following formulae:
Margin required = (current market price x Volume) / Account leverage
In practice this would be calculated as follows:
If open a position of 0.1 (10000) in EUR/USD at the current market price of 1.35645 and your account has a leverage of 1:400 you would calculated the margin required as follows:
(1.35645 x 10000) / 400 = $33.91
In this example the margin on this position would be $33.91, therefore in order to open a positions of this size you would require at least $33.91 in free margin in your trading account.
MetaTrader 4 allows pending orders to be set. Pending orders are stored on the trade server and are executed when the conditions set are met.
MetaTrader 4 allows trailing stop orders to be set from within the trade terminal.
If you have no free margin your positions will be stopped out, in certain circumstances your account balance can become negative should the loss on the positions stopped out exceed your account balance.
Elite Capitals margin call level is 100% this means that you will receive a margin call when your Equity is 100% of the margin required on your open positions. Equity is calculated as (Balance + Open Profit/Loss).
Elite Capitals margin stop out level is 50% this means that if your Free Margin falls below 50% then your positions will be automatically closed. MetaTrader 4 will automatically close in order of the largest loosing position to the smallest.
The margin stop out level is calculated using the following formula.
Margin level = equity / used margin x 100%
= margin level %
The margin on a $10,000 USD (equity) trading account with 1 standard lot open position on USD/JPY and 100 times leverage would be calculated as follows:
= 10,000 / 1,000 x 100%
= 1000% margin level
If the position moves against you and your equity fell to $5,000 the calculation would be:
= 5,000 / 1,000 x 100%
= 500% margin level
If the position moved against you even further and the equity fell to $499 the position would be stopped out as the margin level would have fallen below 100%.
= 499 / 1,000 x 100%
= 49.9% margin level
The Smart Stop Out logic in cTrader has been designed to provide maximum protection to trader’s accounts. This logic will replace cTrader’s Fair Stop Out logic because it provides significant benefits for users by using a much more advanced algorithm.
If Margin Level, falls below Smart Stop Out Level then positions will start being closed partially until Margin Level reaches above Smart Stop Out. The logic of Smart Stop Out will only close what is absolutely necessary from the largest position in order to safely restore Margin Level and protect the position itself, the position entry point and the trading account for as long as possible.
Read more information here: https://www.elitecapitals.com/
The deal confirmation screen displays a summary of the order that you have placed including the order number, quantity (volume) and price the order was filled at. The date and time the order was placed is displayed in the trade window.
You can generate account statements from within the trading terminal by selecting the history tab. Right clicking within the history area will open a new tab from here you will be able to select the time period of the statement that you wish to generate. Right clicking again with provide you with the option to save the report to disk or in HTML format for viewing in a web browser.
MetaTrader 4 has a real time position keeping feature where you are able to see your account balance, Equity, Margin and Free Margin in real time in addition to the profit or loss on any open positions. This is information can be found in within the trade tab inside the terminal section of the platform. Your account history can be found under the history tab in the same area.
If you are a new client, please click here Open a New Demo Account . If you are an existing client of Elite Capitals, you can open an additional demo account from within your Client Area.
Demo accounts will only expire after 30 days of inactivity.
A ‘long’ position is much the same as entering into a BUY transaction, conversely a ‘short’ position is much the same as entering into a SELL transaction.
By way of example if you BUY 1 standard lot or 100,000 units of EUR against USD you are entering into a ‘long’ position. If on the other hand you sell 1 standard lot of 100,000 units of RSA against USD you are entering into a ‘short’ position.
There are no limits to the number of trades that you must place each month.
There is a limit of 200 orders, open or pending, on your account at any one time. Once you reach 200 orders you will not be able to place any more trades.
Elite Capitals is an ECN broker and does not offer any deposit bonuses.
Both our MetaTrader 4 and cTrader platforms are set to automatically close your positions when your margin requirement reaches 100% (stop out level). This process is automated and is not a guarantee that your account will not enter into a negative equity situation. We recommend that you always maintain a balance in your account over and about your required margin. If the stop level is reached a market order is triggered to close your open positions at the next available price in the market.
Events such as markets gapping over the weekend or on major holidays where liquidity is thin can increase the chance of your positions being stopped out and a negative equity situation occurring We advise that you use stop loss orders to limit your risk and you monitor the margin level in your account regularly. You will be responsible for any negative balance in your trading account.
You can keep your positions open for an indefinite period of time.
Yes, you may login to multiple accounts on one platform using the MT4 Multi Terminal You may also install several instances of the MT4 platform for each login.
Yes, it is possible to log into your MetaTrader 4 account with the same username and password at the same time on separate computers.
Yes, you are able to use the MetaTrader 4 trading platform on an Apple Mac, however you must install parallel operating systems.
The following link provides some useful information regarding this:
Slippage is an inherent part of financial markets. Whether you are trading Stocks, Futures, Commodities or Forex you will be subject to slippage. When you place a market order you are requesting your order to be filled at the currency market price however if the market has moved between the time you place your order and the time it has been filled your order may be filled at a different price. Slippage can increase when markets become volatile such as over new periods, you should keep this in mind when trading outside of normal market conditions.
Stop Loss orders when triggered enter the market as market orders, therefore their is no guarantee that your order will be filled at the price you place your stop loss.
The charts on MetaTrader 4 reflect the "Bid" price only, the "Ask" price is not shown on the charts. You can however draw an "Ask" line on the charts by clicking on the chart and selecting 'show ask line', this will result in an estimation of the "Ask" price which is based entirely on the spread. You should bear this in mind when conducting any historical analysis using the charts available in MetaTrader 4.
Elite Capitals MT4 and cTrader trade servers are located in the NY4 and LD5 IBX Equinix Data Centres in New York and London, providing clients with the fastest possible execution speeds. Equinix data centres are known globally for their secure and reliable infrastructure.
The latency from your computer to Elite Capitals trade servers can be tested by conducting a ping test.
The instructions below explain how a ping test can be conducted
Step 1 : On your computer go to the start menu and type "CMD" in the "search programs and files" feild.
Step 2 : Type in the word "ping" followed by a blank space and the IP address of the server you wish to ping.
Step 3 : The bottom line on the resulting output will show in milliseconds the minimum, maximum and average time it too to send and receive data from your computer to the server.
CFDs opening times reflect the market hours of the underlying instrument over which the CFD is based. Please refer to Elite Capitals CFD product specification sheet which details the opening hours of each CFD contract.
Elite Capitals does not charge any additional fees or commission for CFD trading.
The margin rates of each CFD contract vary and are dependent on the CFD contract traded. Typically the margin rates will vary from 0.5 – 1%, please refer to Elite Capitals CFD product specification sheet for details relating to the margin requirement for each CFD contract.
CFDs do have minimum trade size. The minimum trade size is 1 CFD contract.
Elite Capitals CFD prices are calculated based on the price of underlying instrument with an adjustment made for fair value. Fair value is equal to the spot price after taking into account compound interest and dividends.