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Bolmax Management appreciates time of its clients  and offers not only favorable conditions for trade and investment, but also the most functional set of information services that will make the cooperation with the company even more comfortable.

We have prepared answers to the questions most frequently asked by our new clients, and placed all relevant information on working with the company in a single section. Simply select your question and quickly get a full answer in a convenient and concise manner.

 

How to open a demo account?

In order to open a  demo account and make transactions on the forex, stock and commodity markets in the training mode, just download MetaTrader 4 trading platform from the company’s website and install it on your computer or tablet.

When you first start the program, select the menu item “File”, and then the item “Open an Account”. In the next window you will be asked to fill out a form with personal data and choose the parameters of the demo account. We recommend specifying the correct contact details to enable the Department of customer service experts to quickly find information about your account and help you in the future work. After completing the form, click “Next” and select the server: BML-demo

Login and password provided for you, shall be used every time you login in the demo account, so write down or memorize them, and then proceed to the training and testing strategies, tools and services of the company.

For more information about a demo account

 

What documents are required to open an account and withdraw funds?

To ensure maximum safety of your funds, we produce a mandatory verification of all clients’ accounts at the stage of opening a trading account.

When filling out the registration form, please attach color scanned copies of your passport:

  • page with personal information and photo
  • page with residence registration – a residence permit

Note: at the request of the bank the company is entitled to request additional documents, including utility bill proving your address, a notarized copy of the passport or a copy of the foreign passport, as well as signed a Trade agreement.

 

What is the difference between a trading account and a demo account?

A demo account is designed for the analysis of the forex market, metals, stocks and transactions in virtual mode without using equity and without obtaining a real profit. Trading account, provided that  the funds are deposited, allows to conduct   profitable trading and investment activities.

Analytical capabilities of these two accounts  are identical – on a demo account you get the same quotes, as in the real one, you can predict price changes in the company of all available financial instruments to practice trading strategies and test tools. However, to enter the market and make money on forex transactions with metals and CFD on indices, stocks, it is required to open a real trading account.

 

What do you suggest types of accounts?

For the convenience of our customers, we have developed three types of accounts: Standard, ECN, ECN VIP, which allow to use different terms of trade, depending on your preference and the size of the initial deposit.

At the same time, all types of account use the straight-through processing system of transactions without a dealer and orders are executed in the market operation, so you can use any trade and investment strategies, including scalping.

 

How many trading accounts can I open?

Each client is allowed to have one trading account of each type. The maximum total number of accounts opened may not exceed three, provided that each trading account belongs to different types.

 

What are the ways to deposit funds to the account?

Bolmax Management offers the most secure and convenient way to deposit to your account – cashless bank transfers.

Details of deposit

 

What is the minimum amount needed to start trading?

The minimum amount required to start trading, depends on your account type.

Standard account is characterized by the lowest requirements for the initial deposit. You can start trading on the account of this type with the total deposit of 100 EUR / USD. To trade on ECN, the deposit must be  5000 EUR / USD, and the use of privileged trading conditions with minimum costs can  be obtained on account ECN VIP with the deposit of 50 000 EUR / USD.

 

How to download the trading platform?

MetaTrader 4 trading platform can be downloaded for free directly from Bolmax Management.

Download MetaTrader 4

 

How to enter the trading terminal?

To start a full-fledged trade and investment, download or open an application on your trading platform MetaTrader 4. In the menu select “File”, “Connect to the trading account”, “Login”. Enter the data in the window of your account and select the server: BML-live.

Now you can use the deposits accrued to your account funds in the real market and make profit with the tools Forex, CFD, indexes and metals.

 

How can I change my trading account password?

You can change your password, randomly generated when opening an account, on the trading platform. Select the menu  “Tools” then  “Settings” and then find the window “Server”. Click the “Change” button. Make sure that the line “Change master password” is ticked, type in the old password and the new password along with its confirmation.

 

How to recover a trading account lost password?

If you forgot your trading account password, send an E-mail to: support@bmlmarkets.com

a letter with your name and account number. The letter need to be sent along with color scanned copies of your passport pages: with photo and with a residence permit. This will enable us to identify yourself and ensure the security of your  funds held on deposit.

The response letter with the new password will be sent to you within 48 hours.

 

What financial instruments are available for trading?

 The following instruments are available for holders of all types of accounts:

  • 37 forex currency pairs, including ruble pairs
  • 4 precious metals: gold, silver, platinum and palladium
  • CFD 10 world indices
  • CFD for shares of the leading companies in the United States and Russia
  • Spot contracts of oil from Brent Brent , WTI and natural gas

 

What are the financial instruments recommended to start trading with?

If you plan to mainly trade on the forex market and eager to get rapid earnings, we  recommend starting your acquaintance with the market with the major currency pairs: EURUSD, USDJPY, GBPUSD, USDCHF. These instruments are highly liquid, offering many opportunities for trade within the day, there the spreads are usually at a minimum level.

If your goal is investment in exchange-traded products,  we recommend to start with a CFD – contracts for difference on shares of “blue chips”. Thus, you will be able to profit from growth or decline of the company’s  market value, such as British Petroleum, Royal Dutch Shell, Coca Cola, Google, Ford, Apple, Toyota, Mitsubishi, Gazprom and others.

Find out more about trading tools

 

What is leverage?

Trading on the financial markets is carried out in large volumes. For example, a standard contract in the forex is 100 000 units of base currency. And to enable a private trader, who does not possess such amounts, to make transactions andprofits from trade and investment in the currency exchange markets and instruments, the broker gives him an interest-free loan or leverage.

Leverage – is the ratio of the collateral and borrowed funds, provided by a broker under the bail. Leverage is denoted as 1: 100 or 1: 200. This means that a trader can handle the amount exceeding its deposit of 100 or 200 times respectively. After closing the position, the borrowed funds return to a broker and a trader makes a profit from the transactions made with the use of leverage.

 

What leverage is exposed on the trading accounts by default?

By default, all types of trading accounts in the company’s leverage on forex instruments are maintained at 1: 100 Metals – 1:50 on CFD and indices from 1: 5 to 1:20.

You can refine leverage on interesting tool by calculating the ratio of the collateral and margin size of the contract, or seek help from a Department of customer service expert.

 

What the ways to change the leverage?

In order to change the amount of leverage you need to send the appropriate request to the Personal Area or by contacting the Department of customer service of the Bolmax Management.

Submit a request to support@bmlmarkets.com containing:

  • the number of your trading account
  • your name
  • desired leverage
  • attached scanned copies of your passport 2 pages – photo and a residence permit

Your request will be processed within 48 hours. The manager will send you a response letter containing information on trading possibilitieswith the new leverage.

 

What is the spread? Where is the exact size of the spread specified?

The Spread – the difference between the purchase price – Bid and sales – Ask. This sum will be charged by your broker on each transaction as payment for intermediary services and providing leverage.

Bolmax Management is working on a permanent cost savings of its clients and offers minimum spreads on all trading tools. Background information on the average spread size for each instrument is provided in  “Contract Specifications” on our website, and the exact size of the spread is displayed in the trading platform:  “New price” and  “Platform”: tab “Trade”, “New order” after a restart of the platform.

 

What is a fixed and floating spread? What are their differences?

Fixed Spread is maintained by a broker at a constant level and, in fact, has no relation to the actual price difference of buying and selling financial instruments on the market.

Floating spread constantly changes, depending on the current market situation. Wherein at certain moments it may be considerably lower than the fixedspeard.

Bolmax Management Company takes clinets’ orders on the open market and does not affect the parameters of the clients’ transactions. We offer real market floating spreads for holders of any typeof accounts in the company.

 

How to open a trading order?

All trading operations are carried out in MetaTrader 4. To open an order, i.e. to give the order for the purchase or sale of the selected financial instrument at a specified price, you need to click he “Type”, “Market View”. Select tool – CFD, index, metal or forex currency pair, click on it, right-click and select “New Order.”

In the new window, select the item – the size of the contract, recheck the tool and click «Sell» to open the transaction l to sell or “Buy” to open the transaction  to buy.

 

How to close the order?

In order to close the order, click the “View”, “Platform”, find your transaction in the “Trade”, move the cursor to the desired order, click on the right-click and select “Close order”. After closing the order, its  financial result – profit or loss – is reflected in the balance of your trading account.

 

What are pending orders, and how to work with them? 

MetaTrader 4 trading platform offers four types of pending orders for opening transactions:

  • Buy Limit – an order to conclude a transaction to make a purchase at a specified price, which is below the current level.
  • Buy Stop – an order to conclude a transaction to make a purchase at a given price, located above the current level.
  • Sell Limit – an order to conclude a transaction to sell at a specified price, which is below the current level.
  • Sell Stop – an order to conclude a transaction l to sell at a given price, located above the current level.

In order to place a pending order, select the window “Market View” tool you need – forex currency pair, metal, index or CFD – click on it, right click and select “New Order”, type “Pending order”. Next, select the desired type of order out of the four options and set a level whichthe price must pass. In addition, you can specify the time when the order expires. If during that time the price reaches the desired level and the transaction is not open, pending order will be deleted.

The pending order as well as market orders, can be attached to the closing of transactions: Stop Loss and Take Profit, which also trigger when prices reach the predetermined level. These type of orders are designed for timely profit and loss prevention even if the trader’s platform is turned off.

Installing protective  Stop Loss and Take Profit orders  is one of the main rules of Money Management for beginners, especially in such a volatile market as forex market.

If the market moves in  favorable to you direction and  reaches the desired level, the transaction  will be closed by Take Profit with profit. If the market moves against your position, the transaction will close at the level of Stop Loss, and you will not lose more than you had planned.

Distance of Stop Loss and Take Profit from the current price depends on the strategies, commercial objectives, market conditions and your outlook on its future movements. Current information at the lowest possible level at which  Stop Loss and Take Profit for each instrument is provided  in the contract specifications of the terminal.

There is also a kind of protective order Stop Loss – Trailing Stop, which is tiednot to a specific level, but to distance from the current price value. Thus, the stop order will follow  the price, so you can get all possible profit quickly and limit the loss in case of a market turn.

 

What is  Margin Call and Stop Out?

 When you trade on  the financial markets using leverage,  your account should always possess collateral or margin collateral in an amount sufficient to cover all open trading positions. This deposit acts as a guarantee that the potential loss will not affect the credit means, provided to you by the broker.

If at some point the market moved in the opposite side of your positions  and the amount in your account is not enough to cover  all transactions in the platform, you get a warning: Margin Call.

To continue the trade, you are required to replenish the deposit to a sufficient amount. If the deposit has not been refilled, all unsecured transactions, starting with the most unprofitable are closed automatically and the following  signal appears at the terminal «StopOut».

In order to prevent the closing of transactions on margin call and stop out, we recommend you to  comply with the rules of money management and to monitor the balance in your trading account in any circumstances.

 

What are the ways to withdraw funds from my account?

You can withdraw your own funds and profits accrued from transactions in the financial markets, at any time, provided that there are opened positions.

Withdrawal is carried out to a bank account opened in any bank in the world in your name.

To complete the withdrawal, submit a corresponding application in your Personal account. Application processing within the company takes from 1 to 5 working days. Payment receipt terms  account depends on banks and also usually vary  from 1 to 5 working days.

Bolmax Management Company makes every effort to ensure the safety and security of their clients. Therefore, the transfer of funds is possible only if the account holder’s name matches the name of the owner of the account. The funds cannot be withdrawn by third parties.

More about  withdrawal methods

 

Is the scalping allowed?

Processing orders in  Straight Through Processingsystem, used by the company to all types of accounts, allows you to display orders directly to the market and create the most favorable conditions of work with Scalping strategies.

 

Is automated trading allowed?

Trade with the use of robots and advisers is allowed on all types of accounts in the company without restrictions. At the same time,  trading orders sent to the robot from your trading account, are considered equal to the orders given by you personally. The Company is not liable for any loss or malfunction of automated trading systems.

 

How and at what time can I contact you?

We will be happy to answer all your questions relating to trade, investment, services and history of the company, to provide you with any additional information and documents, to give advises on ways of depositing or withdrawing funds, as well as on payments already held from your account.

You can contact a toll-free line 8-800-505-53-05 or send a message to E-mail: support@bmlmarkets.com.

For more information about how to contact the Company Representatives

 

How soon will I get a response letter to my request?

All requests sent by e-mail, including an application for changing the size of leverage, trading accountpassword recovery, enabling services, will be examined in the next 48 hours.

If it takes us longer to solve the problem, we will notify you about this in a response letter.

Requests for deposit and withdrawal  are processed within 48 hours as well, but the period of receipt of funds to the trading account, or other account depends on the work of banks and payment systems.

Bolmax Managment. All Rights Reserved.

 
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