Frequently Asked Questions
Approval time differs on how quick the respective required documents are submitted. If all required documents are match correctly, then the account should be approved in 1 (one) business day or less.
For Live Accounts, the Company would require at least two documents for you to become a Client:
Proof of Identification - current (not expired) scanned copy (in PDF or JPG format) of your passport in full colour. If no valid passport is available, please upload a similar identification document bearing your photograph, such as your national identification card.
Proof of Address - a driving license, bank statement or utility bill. Documents provided must not be older than six months, and your name and correspondence address must be clearly displayed.
Important Note: The name on the Proof of Identification document must match the name on the Proof of Address document.
You can conveniently upload your documents through the Members' Area. You can also scan and send them to email@example.com
Your documents will be checked by our Verification team, who will inform you of your application status within 24 hours. Deposits can only be credited to your account after your documents have been approved and your Members' Area is fully activated.
Leverage available for BitInvest Trading Accounts is up to 1:500, depending on the account type. For further details, please go to our Account Types page on our website.
The minimum initial deposit depends on the account type selected. Please Click Here to view our accounts and the minimum initial deposit for each.
We offer a variety of deposit options. Please CLICK HERE to see all available methods.
You can withdraw at any time from the funds that are surplus to any margin requirement. To request for a withdrawal, simply log in to Members' Area and select 'Withdraw Funds'. All withdrawal requests are processed within 24 hours.
To see all available withdrawal options, please CLICK HERE.
The minimum trading volumes will depend on the account type. For further details, please go to our Account Types page on our website.
There are no additional fees being imposed.
Clients have the ability to execute trades directly from real-time streaming quotes provided by the largest liquidity providers in the forex market. Quotes are updated in real time.
BitInvest is registered under VFSC with registration number XXXXX and incorporated in Saint Vincent and the Grenadines.
A true 24-hour market, forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial centre, first to Tokyo, then London and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur, i.e. day or night. The market is open 24/5.
If you are buying currency, you are opening a 'long' position. If you are selling currency, you are opening a 'short' position. For example, if you buy 1 lot of EUR/USD, it means you open a long position for 100,000 units of EUR against USD. And if you sell 10 lots of USD/CAD, it means you open a short position for 1 million units of USD versus CAD.
The most common risk management tools in forex trading you can employ are limit orders and stop-loss orders.
A limit order places restrictions on the maximum price to be paid or the minimum price to be received. A stop-loss order sets a particular position to be automatically liquidated at a predetermined price in order to limit potential losses should the market move against an investor's position.
Currency traders make decisions using both technical factors and economic fundamentals.
Technical traders use charts, trend lines, support and resistance levels, and numerous patterns and mathematical analyses to identify trading opportunities, whereas fundamentalists predict price movements by interpreting a wide variety of economic information, including news, government-issued indicators and reports, and even rumors. The most dramatic price movements, however, occur when unexpected events happen. Such events can range from a central bank raising domestic interest rates, to the outcome of a political election or even an act of war. Nonetheless, more often than not, it is the expectation of an event that drives the market rather than the event itself.