Terms you should be familiar with

Interbank market: the method by which banks and hedge funds trade on the Forex market- it is by far and way the largest part of the market.
Retail market: the market place for private investors
International Standard Organisation (ISO): the code by which a currency is described, for example GBD - for sterling
Price notation: A currency is always valued relative to another currency - usually the dollar. The notation GBD/USD = 2.000, means there are two dollars for every unit of sterling
Majors and crosses: Pairings with the US dollar are known as the ‘majors.’ The ‘big four’ majors are: -

• EUR/USD: euro/US dollar • GBP/USD: sterling/US dollar (known as “cable”) • USD/JPY: US dollar /Japanese yen • USD/CHF: US dollar/Swiss franc
Pairings of non-US dollar currencies are known as ‘crosses.’ We can calculate cross rates for GPB, EUR, JPY and CHF from the aforementioned major pairs. For example:
• EUR/JPY = (EUR/USD X USD/JPY)
Big figure, points or pips: a currency is usually represented by four digits after the decimal point - the main exception being the yen which is represented by two digits. The first two numbers after the decimal point are known as the ‘big figure.’ The second two figures after the decimal point are known as points or pips.
Long and short: a speculator who is said to have gone ‘long’ on a currency is buying that currency. A speculator who is said to have gone ‘short’ on a currency is selling that currency.
Margin: Investors are typically asked to pay between 1 and 5 per cent of a currency trade. If the currency then loses value, then the speculator maybe be asked to provide additional cash, to ensure the percentage margin is maintained.
Lots: A speculator will normally buy a currency in lots- typically 100,000 units. Some brokers offer mini lots.
Spread: There is no dealing charge as such in currency speculation, but the speculator will be quoted a spread. The spread is written in a particular format. For example, GBP/USD = 1.8000/05 means that the bid price of GBP is 1.8000 USD and the offer price is 1.8005 USD. The spread in this case is 5 ‘points.’
The larger the currency investor, the smaller the spread quoted. Thus banks and hedge funds have an inherent advantage over the private investor in that they can trade on much keener prices and enjoy profits on smaller fluctuations.

[SigmaForex Funding Methods]

Safety of funds plays an important role in any type of business; we make our best efforts to ensure protection of customers’ money.

Minimum deposit required for funding new accounts:

Our accounting department is ready to help you fund your new account or add funds to an existing account. For Standard Dealing Desk Accounts the minimum deposit is $ 500, and for the No Dealing Desk Accounts the minimum deposit is $ 2000.
Deposit instructions:
You must open a web account and associate it with your live account to insure security of transactions in your account

How to do so?
1. Open web account
2. Login and associate your Live Trading Account with your Web Account
3. Login to your Web Account and click 'Make a Deposit"

Deposit methods
1- Bank wire transfer
A wire transfer is a transfer of money from one bank account to another. The actual transfer is done by the bank, and neither the sender nor the recipient of the money sees or touches the actual funds.
Deposit Time
1-5 business days SigmaForex does not guarantee deposit times in the event of a margin call

Fees
None
SigmaForex will not be held responsible for charges or fees assessed by going through an intermediary bank.

Withdrawal Eligibility
Immediate availability
Restrictions
The account holder name of the funds must always match the name listed as the customer on the trading account.

2- E-gold payments
Open www.e-gold.com- Create new e-gold account - Issue transfer request from your e-gold account to SigmaForex e-gold account.

Deposit Time
Immediate deposit SigmaForex does not guarantee deposit times in the event of a margin call
Fees
None
SigmaForex will not be held responsible for charges or fees assessed by going through an intermediary bank.

Withdrawal Eligibility
Immediate availability

Restrictions
The account holder name of the funds must always match the name listed as the customer on the trading account.

You do not have an account yet?
Open Live Account