Help Center - FAQ'S
How to start with Lafanda
First you need to send application for registration and after review you will get email with next steps.
Can I go long and short at the same time?
Absolutely. Lafanda wants to maximise its client???s flexibility to hold positions for different durations or as part of different strategies.
How much money is required to open a position?
The minimum contract size that you can trade is 0.01 of a standard lot which requires a $10 margin requirement for most of the instruments. Other products might require higher margins. For full details, please see our Contract Specifications for the required margins on all our products on our website under the Trading section.
Why should I place a Stop Loss (S/L)?
A Stop Loss protects you on trades that go against you, and therefore also protects your overall account balance. Markets can be volatile and it is recommended to always use Stop Loss to limit any losses.
How do I set a stop loss or take profit?
Access the Edit Position pop up dialog: Create a Take Profit position by selecting Close at profit and specifying a triggering Rate or Amount.
What is "Take Profit" and "Stop Loss"?
Stop losses and take profits are both orders, which are placed in the market to close an open position. "Stop Loss" is to prevent further adverse price movement and ???Take Profit??? is to gain from advantageous price movement.
How can I manage risk in volatile markets?
Some ways to manage your risk during volatile markets is to ensure your account is sufficiently margined at all times. Several precautionary measures are recommended:
Monitor the status of your open positions.
Specify a stop-loss to limit downside risk.
Keep your account funded in excess of your required margin.
What is a Pivot Point?
A Pivot Point is an Indicator of potential market movement at a specific Price Level. It is calculated by an average of significant prices.
What is Swap?
Swap is a rolloverinterest for keeping your positions open overnight, that can be both positive or negative.
What is Leverage?
Leverage is a consequence of Margin, allowing you to place larger trades on the market. It can help you maximise your returns but also works the same way with losses. Understanding and controlling your leverage is extremely important.
What is Margin?
Margin is an amount of the equity in your account delegated as Margin Deposit. Your trade size will determine the amount of margin needed to hold a position open. Your Margin Requirements increase as your Trade Size does.
What is Slippage?
Slippage may occur during periods of high market volatility, usually caused by important economic news. It results in your position being executed at a different rate than the rate you specified; closing at the next available price.
What happens to my open positions at the end of the trading day?
Lafanda automatically rolls forward all open currency positions to the next day's value date at the end of each business day at 23:59 GMT. Trading is typically suspended for up to one minute during the roll process.
Depending on the currency pairs involved, trades will either earn or pay a small premium, depending on the interest rate differential between the two currencies.
What is Forex?
Foreign Exchange market (Forex, FX, currency market) is an over the counter (OTC) or decentralized global market for buying and selling currencies at current or determined prices.
What is Commodity?
A commodity is mostly Raw Materials that can be Bought or Sold, for example Gold, Silver or Oil
What is CFD?
A CFD is a Contract for Difference, meaning when trading you will not be physically purchasing any on the instruments, you activate a contract with the company in trading on the difference in value from the strike price to the closing price in which you may take either a Long or Short position.
What is Forex?
The Forex market, unlike the stock market, is decentralised with many participants. Until relatively recently, forex trading was largely the exclusive preserve of central banks, large financial institutions, multinational firms, investment managers, hedge funds, insurance companies and brokerage firms. The emergence of the internet, combined with the introduction of technologically advanced retail trading platforms has vastly changed the forex trading landscape, opening up this potentially lucrative marketplace to a growing number of individual retail traders.