Forex Trading – BlueMax FAQ’s

General FAQ’s

How long does it take to open a live account ?

If all the documents are perfect it will take 24 hrs for processing. After processing the same, a confirmation mail will be sent to the client’s registered Email ID.

How do I open an additional account?

You can open an additional account by sending sub account request via client login.  Please login to myBlueMax, click on Open Sub Account, fill the reason for additional account and submit the form. BlueMax support team will process your Sub-Account request in two days.

Kindly go through this link for step by step process Open Sub Account.

I have two accounts, and I made a deposit in the wrong account, how can I transfer the funds to my other account?

Internal transfers can be made from one of your current accounts to another; this can be done via the Client Login.

How do I change my MT4 password?

To change your MT4 password, please log into your MT4 Platform, go to “Tools” menu  >> “Options”, now Click on “Change” button. Now a new dialog box will appear. Please enter your current password, and then click OK.

Kindly go through this link for step by step process: MT4 Password Changing.

What are your commissions and fees on trading?

BlueMax do not charge any commissions. Prices quoted is inclusive of our normal dealing spreads, which is derived from Interbank dealing spreads on all major currencies, including US Dollar, British Pound (Sterling), Japanese Yen, Euro, Swiss Franc, Canadian Dollar, Australian Dollar and other currencies. BlueMax is compensated for its services through the bid/ask spread.

How do I deactivate or reactivate my account and is there a cost involved?

Simply contact us to have your account temporarily deactivated or reactivated at any time. There is no charge for account deactivation or re-activation. Please note that during any period of deactivation your account will be inaccessible.

What are your trading hours?

Trading is available 24 hours a day from 23:00 GMT Sunday through 19:00 GMT Friday, including most U.S. holidays. Please be advised of the potential illiquid market conditions particularly at the opening and closing of the trading week. These conditions may result in wider spreads for some currency pairs based on market liquidity.

Is it possible to access the same account from different computers?

Yes. As long as you have the correct login details, you can login to the platform from any computer, provided your connection settings are correct and the connection is not being blocked by a firewall or your ISP.

Can I change the time zone on my platform?

No. You cannot change the time of the MetaTrader 4 Platform.

Where can I view my trading history?

The trade history can be seen by clicking on the “Account History” tab in the ‘Terminal’, which is at the lower part of your MetaTrader 4 platform. You can also modify your view timeframes and access reporting features by right clicking on any row in your account history view.

Where do price quotes come from?

We have relationships with top banks where the market depth information is synchronized to the platform.

What happens to my open positions when I log out of MetaTrader 4?

Open positions will not be closed until triggered an existing stop loss, take profit or stop out level is reached. Existing limit orders and stop orders will still be filled if the entry rate is met. Please note for Trailing Stop orders your MetaTrader 4 platform must be open and logged in.

Can I use robots in MetaTrader 4?

Yes. You can use any and all EAs (Expert Advisors) available with third party providers. BlueMax does not restrict the use of any strategy or EA, but unethical Scalping trades are not allowed.

Can I use custom indicators in MetaTrader 4?

Yes, you can use any custom indicators that are MT4 compatible.

How many Expert Advisors and indicators can I run at one time?

There is no restriction on the number of EAs and indicators you can have running at any given time on MetaTrader 4. It is important to understand that MetaTrader 4 is a RAM sensitive program. Overloading your platform with a large number of EAs and indicators can reduce the performance and speed of your MT4 platform.

How can I fund my account?

There are a number of different ways to fund your trading account, including bank wire, credit/debit card and through a number of e-wallets providers such as Neteller or Skrill (Moneybookers). To initiate funding, simply click on ‘Deposit Funds’ and then select your desired method and follow the prompts to fund your trading account.

How do I withdraw funds from my trading account?

First of all you have to submit withdrawal form which is available in myBlueMax Login. After receiving the form we will process your withdrawal within 2 working days.

Kindly go through this link for step by step process: Client Login

Can I see the list of Trades, Deposits and Withdrawals made to my Trading Account?

Yes, you can see a list of all trades, deposit and withdrawal transactions in your trading account through the MT4 ‘Account History’ section. You can also search it by date.

How soon can I start trading?

You can start trading immediately after finishing the registration process and depositing funds.

How can I manage multiple accounts?

If you plan to trade for others, contact our support team they will assist you.

I got a stop out, why did it happen?

A stop out is an automatic closure of a position at the current market rate. A stop out occurs when the margin requirement has been exceeded and the account balance is no longer sufficient to sustain all the opened positions.

Which currencies can I use to deposit funds into my trading account?

You can deposit funds in any of the following currencies: EUR, USD, and GBP.

What is the minimum deposit required to open a trading account?

The minimum deposit to open a trading is 1000 USD.

Can I deposit via one method and withdraw via another?

No, you must withdraw funds by the same method you used for deposit.

I placed a pending order and it was deleted. Why?

Your pending order will be deleted from the system if the free margin (Equity – Used Margin) is not enough to cover the margin required for opening the specific order.

What is the difference between the balance and the equity that appears on my trading platform?

The balance illustrates your closed positions’ Profit/Loss, while the Equity is the real time calculation of Profit/Loss i.e. taking into account both open and closed trades.

Why do I need to submit my documents for account validation?

As per regulatory needs, we must maintain client’s ID and Address Proof to activate your trading account.

What trading account types do you offer?

We offer the four types of trading account. Please go through the below link for detailed information. Forex Trading Account Types.

Can I change the base currency of my account?

Currently we offer three base currencies. There is no possibility for holding different base currencies in same account.

Do you allow hedging?

Yes we allow hedging.

What is one-click trading? How can I enable it?

One-click trading allows you to open positions with just one click. Same way you can close a Trade in single click.

Can I withdraw my money whenever I want?

Yes, there is no restriction for withdrawing your money anytime except for PAMM investor. Kindly note the minimum withdrawal amount is 100 USD. For PAMM Investor withdrawals will be processed only on weekends when markets are closed.

Can I withdraw my money if I have an open position?

Yes, you can but your equity must be more than your requested withdrawal amount.

How do I add an expert advisor?

Kindly go through this link for step by step process: Install Expert Advisor in MT4.

Is there any restriction for scalpers?

Scalpers are welcome, but unethical scalping and close end scalping which are banned by banks and Liquidity Providers are strictly prohibited.

IB FAQ’s

What is the role of an Introducing Broker (IB)?

Introducing Broker is an individual or corporate responsible for the referral of investors to BlueMax.

How to become an IB in BlueMax?

Client, who wants to become an IB, can send a request form to BlueMax support team. BlueMax will send you an IB Application Form. After scrutinizing the same, BlueMax will send you the IB agreement.

How many clients are required to become an IB?

Minimum three active clients are required to become an IB.

What are the necessary documents to open an Introducing Broker account?

The following documents are required:
1)    Identification document
2)    Proof of address

Is there any initial or monthly fee for applying to IB program?

No, there’s no initial or monthly fee to become an IB.

How much I can earn being an IB?

There is no limitation for earning. This depends only on your determination and ability to attract clients.

Is there any variation on commissions depending on the type of account?

Yes, it may vary for each account type which will be mentioned on your IB agreement.

Will I have live access to my clients' accounts?

No, only your clients will have live access to their accounts.

How often will I receive commission?

You will receive the commission instantly for every closed transaction of your clients. You can withdraw whenever you want.

Is there any promotional material for IB?

Yes. BlueMax gives Referral link and Web banners for online promotional activity. By using this advanced tool an IB can easily generate leads in an efficient manner.

Can I be a client of myself under my IB account?

As per our Partner’s policy, that’s not possible to get rebates on your own account.

Do I get rebates for all trades?

Yes, you can get rebates for both winning and losing trades.

Can I trade in my IB account?

No you can’t trade in your IB account. You can only receive rebates in that account.

Where can I see my client list?

You can view your clients list in your client login panel ——-> MyClients option.

How to withdraw my IB rebate?

You can withdraw your IB rebate using withdrawal form through your client login panel. Kindly note that minimum withdrawal amount is 100 USD.

Are there any promotions for IB based on their performance?

Yes, for every three months, BlueMax review your performance. Based on your performance, rewards and promotions will be offer by BlueMax.

How are rebate calculated?

Generally it is calculated based on pips.

Do I need to have a Website or Social Media Page?

No, it’s not necessary. It will be better, if you are having a website or social media page.

Can I able to transfer my IB commission to any of my trading account?

Yes, you can do internal transfer between your accounts.

Do you offer any other commission for IB other than rebates?

BlueMax conducts special contests for IBs every month. Rewards and exclusive commission slabs will be intimated to IB at that time.

How can I track my client’s status?

For high profile IBs, we provide exclusive Manager Terminal. There you can track all your client activities such as Trades, Deposits and Withdrawals. For this the minimum active client should be more than 5.