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Frequently asked questions


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Q & A

FAQ

  • 1.How to open an account in Novox ?
    Log in the official website of NOVOX https://www.novoxfx.com, find "account opening" in the navigation bar of the home page, click "account opening" to enter the registration information page, fill in your personal information and upload the scanned copy of your identification, card, the audit team will review your file, and send an email to inform you of the account opening on the same day.
    2.Is it safe to open an account to operate fund transactions in Novox ?
    Yes, Novox has supervision in 15 countries, and regular motherhood is questionable.
    3.What is the minimum amount of funds to open an account in Novox ?
    Novox has unlimited minimum entry threshold. But if you want to do foreign exchange trading, you need to inject at least $500 into your account to start foreign exchange trading.
    4.Is the virtual account the same as the real account?
    Simulated accounts and real accounts are the same source of quotation, but for technical reasons, real accounts and simulated accounts do not enjoy the same trading environment. Because orders from simulated accounts do not enter the real trading market, they are not comparable with real accounts. Simulated accounts are designed to enable traders to trade on a platform, so they do not provide a real trading experience.
    5.How to apply for a virtual account?
    Open Novox official website, click Open Simulated Account, fill in the relevant information, we will send the Simulated Account in your mailbox; or you can also through MT4 client, point files - New Simulated Account, and then apply for the Simulated Account step by step according to the prompt.
  • 1.What is the foreign exchange?
    As the world's largest financial market, foreign exchange transactions average $3 trillion a day. Forex trading is when a trader buys one currency in a pair and sells the other, so it always trades in pairs. Foreign exchange quotation also fluctuates according to the relationship between market demand and supply.
    2.How to earn money through foreign exchange transactions?
    The way to make money is generally to buy low or sell high or buy low. Because Novox provides leverage, you can participate in the foreign exchange market with less money and make more profits. Investment opportunities in foreign exchange transactions come from exchange rate fluctuations, which are mainly affected by the political and economic conditions of the major developed countries such as the United States, Japan and Europe.
    3.When does the foreign exchange open and close?
    The foreign exchange market is a 24-hour non-stop market, which closes at 05:05 a.m. Beijing time until 04:55 a.m. on Saturday (daylight saving period) and at 06:05 a.m. Beijing time until 05:55 a.m. on Saturday (non-daylight saving period). Every trading period in the foreign exchange market has its own rules and characteristics 24 hours a day.
    4.What is the spread?
    In foreign exchange transactions, there are quotations from two parties, which consist of the ask price and the bid price. The bid price represents the price that you can buy based on the base currency (and at the same time sell the non-base currency), while the ask price is the price that you can sell based on the base currency (and meanwhile buy the non-base currency). The difference between the bid price and the ask price is the spread, through which traders make profits in businesses.
    5.What is the leverage?
    The leverage of foreign exchange is to allow customers to trade with less money. Leveraged trading establishes an available ratio based on each dollar in your account. The money you invest in the transaction is actually the money that takes risks. It is called a "margin" or a risk-taking fund. For example, if you invest $100 with a leverage ratio of 1:100, then you have $100 at your disposal for each dollar in your account investment fund (i.e., margin). If you start trading with $100, you can do transactions with a maximum value of $10,000 (100x100).
    6.What is a lot?
    1 standard hand = 100,000 units. The smallest unit you can invest in at Novox is 0.01 hands.
    7.The reasons for the change of exchange rate
    Foreign exchange is traded on the open market, just like stocks, bonds, computers, cars and many other goods and services. The value of money fluctuates with the fluctuation of its supply and demand. An increase in the supply or decrease in demand of a currency may lead to a decrease in the value of that currency, and so on.
    8.What is the margin?
    Margin is the amount you need to pay in advance to open a position. This amount will be refunded to your account after you close your position. The margin is based on the exchange of the base currency of the pair of currencies into US dollars. The size of the transaction volume and the leverage are designed in the calculation. If you don't have enough margin available, you can't open a new position. The margin available on your account is the margin you can use to trade.
  • 1.What attitude does Novox take towards abnormal tradings?
    We strive to provide traders with high-quality trading experience and create good profitable conditions, but for account with abnormal transactions, such traders are not our clients. The reasons are as follows:
    1. According to the rules of international market transactions, abnormal transactions have the opportunity to violate the Anti-Money Laundering Policy and are likely to be questioned and complained by traders.
    2. Such abnormal transactions usually concentrate on the same time, with dozens to hundreds of accounts simultaneously conducting a large number of ultra-short-term transactions, occupying most of the network resources of the network trading platform, affecting the stability and efficiency of the trading system, greatly affecting the investment environment of normal traders. In order to protect the interests of most traders, we must not accept that abnormal transactions continue to occur.
    2.How does Novox deal with abnormal transactions?
    1. Anomalous traders, if an account with abnormal transactions is initially determined by our electronic trading system, will freeze the trading and capital entry and exit of the account for a period of 7-14 days. After investigation, if abnormal transactions are confirmed, the trader needs to apply for cancellation within 7 days. After completion of the formalities, the company will return 80% of the remaining amount of the account (excluding any profits generated by abnormal exchanges).
    2. IB Agent of Abnormal Trader - If the abnormal transaction under IB Agent is preliminarily determined by the system, the Commission generated by the trader (including the introducer) will be frozen until the investigation is completed. If the investigation is an abnormal transaction, the Commission generated by the abnormal account will not be paid, and the commission that has been paid in the past will be retained. If the situation is serious, the agency qualification will be cancelled directly.