Hello Everyone,
I am completely new in Forex. I am trying to complete my profile on Instaforex but i could not answers couple of questions correct. Could you just tell me which questions answer is wrong.
1.What are the possible ways of closing an open trade?
a. reaching take profit or stop loss levels
b.sending a request to withdraw a fund from ur account
My answer. a
2.How much margin is required to buy 1.00 lot (100.000 USD contact size) of EURUSD through an account that has 1:100 leverage?
My answer. 1000 euro
3.The market is moving against you and your account has a stop-out level of 50%. In which of the following situations will your open trades be closed?
My answer. when account equity reaches 50 percent of account balance
4.How much do you have to pay to buy 10 lots of USD (1,000,000 USD) on an account with a leverage of 1:50?
my answer. 20000 usd
5.You have deposited GBP 3,000 in your trading account and bought 1 standard lot of CFDs on EURGBP at a price of 1.100. Which of the statements is true?
a. By opening the position of CFDs on EURGBP, I am buying a transferable security, which has its price connected to the exchange rate of EUR against GBP.
b.if the price of EURGBP drops to 1.070, I would be making a loss of GBP 3,000 and my available equity would be 0 (i.e. I will lose my initial investment)
c.if the price of EURGBP drops to 1.070, I would be making a loss of GBP 30,000 and my available equity would be 0 (i.e. I will lose my initial investment)
my answer. none
6.When trading with a higher leverage which of the following applies?
a.profit and lost of 1 lot multiplied
b.position can be opened with high risk exposure than your account balance
c. none
my answer. a
can u guys please help me to answer them correctly or let me know which question answer is wrong
thanks