Frequently Asked Questions (FAQ)

Platform and Trading

Is it possible to be logged in to several accounts at once?

Yes. Though, you can only login into multiple accounts from one instance of MetaTrader 4, you can open several instances (separate MetaTrader 4 instances running at the same time on your computer) and login into different accounts accordingly.

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

Yes. As long as you have the correct login details, you can login into the platform from any computer, but check that your connection settings shows correct, and the connection is not being blocked by any firewall or your Internet Service Provider.

Will I be able to change the time zone in my platform?

No, you cannot change the time offset on the MetaTrader 4 platform. The platform time is GMT +2, although during US Daylight Savings Time the platform changes to GMT +3 to stay in line with the market close time (5pm New York).

Where can I view my trading history?

The trading history can be seen by clicking on the “Account History” tab in the ‘Terminal,' 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.

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

Open positions will not change its status to close until an existing stop loss, take profit or stop out level is reached. Existing limit orders will still be filled if the entry level is reached as well.

Note:

For Trailing Stop orders your MetaTrader 4 platform must be open and logged in.

Can I use Robots/EA in MetaTrader 4?

Yes. You can use any and all EAs (Expert Advisors) available by third party providers. Pylon FX does not restrict the use of any strategy or EA on variable spread accounts. For further information regarding our trading conditions, please visit our Trading Conditions page.

Can custom indicators be used in MetaTrader 4?

Yes, you can use any custom indicators that are MQL compatible. Failing to download a custom indicator can occur as a result of coding issues on the side of the indicator creator.

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

There is no restriction to the number of EAs and indicators you can have running at any time on MetaTrader 4. But 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. Also, EAs may have conflicting strategies and risk profiles and can contradict with each other when attached to one single trading account. Therefore, it is recommended to split your EAs across multiple trading accounts and platforms.

How can I change my MT4 password?

You can change your trading account password by following the below steps:

  1. Click Tools on the top navigation bar;
  2. Select Options > Server > Change. A new window will open;
  3. Enter your current password and a new password;
  4. Confirm the new password;
  5. Click OK.

Alternatively, right click on your account that is displayed in the Navigator Window, select Change Password and follow the prompts.

What are Pylon FX’s Trading Conditions?

In order to be in line with Pylon FX trading conditions, we encourage you to visit and read carefully our trading conditions page.

Here you will find important information concerning news trading, hedging, scalping, storage fees, leverage, swap fee, margin requirements and more.

What is a pip?

A "pip" is the smallest whole increment in any Forex pair. For pairs quoted in 5 decimal points, a pip increment is based on the fourth decimal. For pairs quoted in 3 decimal points, a pip increment is based on the second decimal. The value of a pip is determined by the currency of your account and the pair you are trading. If the quote currency is the same as your account currency, then a 1 pip move equals 10 account currency units per 100,000 traded.

What is spread?

The spread is the difference between the bid price (selling price) and the ask price (buying price).

What is Commission?

It is a fee that is taken per order based on your account type. You can get more details about commission if you visit Pylon FX account types page.

What are the spreads that Pylon FX offers?

To view the different spreads that we offer for each account type and instrument, please visit the Pylon FX Account Type page.

What is a swap fee?

It is a rollover interest of your open position which is more than closing time of the same trading day.

What is leverage?

The leverage of your account is the multiplier of your purchasing power that determines the amount of margin required for every trade. The higher the leverage, the more purchasing power you have.

What is the margin and leverage requirements?

The Client shall provide and maintain the Initial Margin within limits offered by the Company, at its sole discretion that may determine, set, or update. The Company has no obligation to make Margin Calls for the Client.

What does lot size mean? What is forex Micro, Mini, and Standard Lots?

Forex Lot is basically a representation of Trade Size.

  • Standard: 1.0 lot is 100,000 units of the base currency
  • Mini: 0.1 lot is 10,000 units of the base currency
  • Micro: 0.01 lot is 1,000 units of the base currency (this is the minimum lot size)
  • The Base currency is the first currency in the currency pair. So essentially:
  • 10 Mini Lots make 1 Standard Lot
  • 10 Micro Lots make 1 Mini Lot
  • 100 Micro Lot = 10 Mini Lot = 1 Standard Lot

What is the difference between spot trading and CFD (contract for differences)?

CFD 'Contract for Differences' is an arrangement made in a futures contract whereby differences in the settlement are made through cash payments, rather than the delivery of physical goods or securities. While Spot Trading is the purchase or sale of a foreign currency or commodity for immediate delivery.

What are futures?

Pylon FX provides the possibility to trade future contracts on metals (gold and silver), energies (crude oil). You can find the complete list of futures and their specifications on our site. Please note that the trades should be closed before the contract ends (before expiry date). Either they will be done automatically if you did not close them or you should close them manually before the expiry date and time. We will notify you before the expiration time is up.

Regulations and Safety of Funds

Is Pylon FX regulated?

Pylon FX is a fully licensed and regulated as International Forex Broker in Republic of Liberland. Pylon Fintech Limited is authorized to trade internationally, specializing in CFD online trading on currencies, commodities, futures and indices.

Pylon FX is a reliable and authentic provider of online trading markets. The company applies all regulations and governing laws in the country where it is registered.

In what way Pylon FX is associated with companies in Singapore, Georgia, India and Nepal?

We have our outsource partners who perform different functionality job of our Forex Broker Business. We specialized on our business and they specialized on theirs:

International Customer Support is taken care by Georgia and India local partner office.

Compliance and Social Media Management is taken care by Singapore and India local partner office.

IT, Website, Servers, Programming is taken care by Nepal local partner office.

How does Pylon FX safeguards clients’ funds?

Clients’ Funds Deposited with Pylon FX are held in segregated bank accounts and separated from the company's funds. Pylon FX, upon receiving any Client funds, promptly places those funds into one or more accounts, denoted as “Clients”, opened with Commercial Banks and Liquidity Provider.

Pylon FX safeguard funds by putting client deposits to Liquidity Provider, International and Regional Bank Accounts and with regional local partners (temporary holding) to disburse fastest delivery of funds, we constantly monitor the clients’ equity and their locations to maintain temporary funds ready to deliver while customer will withdraw from that location.

How do I find the legal documents at Pylon FX?

Before you open an account with Pylon FX, you have to read over and agree to Terms and Conditions. To find copies of these legal documents, please go to Downloads page for more info.

Deposit Information

Can I deposit funds via digital currency?

Yes, we do offer digital currency deposit options available. You can find the list of available digital currency in your deposit page and see some of its logos in lower part of the main website.

Can I deposit funds via cryptocurrency?

Yes, we do offer cryptocurrency deposit options available. You can find the list of available cryptocurrencies in your deposit page and see some of its logos in lower part of the main website.

Can I deposit funds through a bank wire?

Yes, you can deposit through International Bank Wire and local transfer is also available, but all banking transfer should be done through your own account name to your own account in our broker, we do not accept third party deposit via bank transfer. To do bank wire money transfer, you must be fully verified from our compliance department.

What are Pylon FX’s banking details?

You will see in your account when you are fully verified and for local bank transfer you can always contact your account manager.

How can I deposit funds to my trading account?

You can deposit funds to your trading account with us, then you can transfer funds to your respective trading account.

Do you charge any fees for Depositing funds to my account?

No, we do not charge any fee on depositing to our official digital currency and bank wires. However, there might be possibility to get charged additional local currency conversion fee to manage deposit from third party local level regional partners.

What is the minimum funding amount?

You can open an account and get started by funding it with a minimum of $50

Withdrawals Information

What is the Withdrawal Policy at Pylon FX?

Withdrawing funds from your Pylon FX account is simple and quick. Withdrawal requests are processed within 2 hours by deducting the amount from your account.

Withdrawal amounts should be transfer back to the same sources of deposit until the original amounts have been covered. Profit withdrawals or any amount over the initial deposits can only be sent by any available methods of payments options depending on the amount and upon finance department approval.

Minimum amount to withdraw via Bank Wire Transfer is $200 while it’s $100 via Electronic Methods.

How do you withdraw funds?

Go to Internal Transfer System, there you can perform transfer funds from Live Trading account to Payment System Account, and from there you can withdraw to your personal wallet, remember that you cannot withdraw to any other third-party wallets, it must be withdrawn only to your own account.

Are there any fees for withdrawing funds?

As Pylon FX will pay all the fees while depositing via electronic payment as merchant fee, so we are charging customers while withdrawing being fair to accounting system. As for Bank Wire Transfer, please note that you will be liable to intermediary bank fees.

Can I cancel my withdrawal request?

In case you wish to cancel a withdrawal, you need to send support ticket from your account and if it is not processed then we will cancel the withdrawal and refund your trading account.

Can I withdraw Profits to available electronic wallet or any other Methods?

You are allowed to withdraw funds up to the deposited amount via the same method as the deposited amount. However, any profit after covering the deposited amount (via the source of deposit) have to be sent via bank wire transfer or on any available payment method, subject to approval from finance department.

Trading Tools

What is a VPS?

VPS stands for Virtual Private Server, and it is a very useful tool for traders that use robots/algorithms to trade on the market. These robots often run automatically and independently from the trader, thus are able to explore trading opportunities that manual traders may not be able to. A VPS provides you with the ideal trading environment to maximise the power of robots through eliminating downtime and benefiting from extra fast execution speed.

How much does it cost to have a VPS?

Pylon FX offers VPS to clients free of charge when they open an account and deposit it with a minimum of $5000. VPS are valid to 1 month and can be auto renewed as long as the below requirements are met:

- Close a minimum of 30 standard lots.

- Keep your account with $3000 Equity or higher.

If you do not meet the above requirements, your VPS will not be renewed, as VPS deactivation system is automatic, we are not responsible of any data or information loss due to suspension of your VPS.

What is Auto Trading, Expert Advisors (EA) and how can I link to my live account?

Pylon FX does not suggest or refer to use any Auto Trading, Expert Advisors (EA) on live trading account. But if you wish to do use, you can use on your own risk.

Do you offer Copy Trading, PAMM, MAM accounts?

Pylon FX currently does not offer it, but we have plans to offer such accounts in coming days. We are doing our best to bring all possible feature to ease and fulfil the requirement of our valued clients.

Trading with Pylon FX

Which account type should I choose?

At Pylon FX, we offer 3 different account types (Active, Pure & VIP), which were designed to suit every trading style and strategy. To know more details on account types, please refer to Account Types page.

We also have special account type for our Introducing broker (IB), please contact our representatives for more information. To know more details on account types, please refer to Account Types page.

Will I be sent a statement for my account?

You will receive an automated daily and monthly statements. These will be sent to your registered email automatically by the platform.

Can I generate my own account statements?

Yes. You can generate statements on request through MT4. Please refer to the 'Account History' tab in your MT4 platform, right click to define the period and then right click again to 'Save a Report' or 'Save a Detailed Report'.

How do I change my account leverage?

All account is opened with 1:100 leverage by default, if you like to request to change your leverage you need to send support ticket with legal document that you understand leverage risk by signing it via our support system.

How can I transfer funds to/from a different party?

If you wish to transfer funds to another client of Pylon FX or receive funds from another client of Pylon FX, then it is possible by filling legal document with relevant information and send support request from your portal.

Can I have multiple accounts and transfer funds between accounts?

Yes, you can have multiple trading accounts. To request an additional account, you need to log in to your account in our website and do internal transfer and it is simple and instant process to transfer funds between accounts.

What base currencies can you open an account in?

Currently, we offer four different currency base options for our trading accounts. These are as follows: USD, EUR & GBP. We also accept funds in other currencies, but currency conversion fees apply.

Is it possible to change my Account type?

To change your account type, please send support ticket from our dashboard and we will change this for you. However, if you have any open positions, they need to be closed first before sending us the request.

Please be aware that with account type change, the leverage, spread, and minimum volume will also change. For more information on our account types specifications, please visit our Account Types page.

What type of accounts do you offer at Pylon FX?

Pylon FX offers various type of account including variable spread, low spread, swap free (Islamic) account, commission account etc. Please refer (link)

How do I create a demo account?

Opening a demo account is very simple. Open your account with us, verify your email and phone number and simply choose to create demo account, an automated email will be sent to your registered email address.

How can I open a Live Account?

Opening a live account is easy. Open your account with us, verify your email, phone number, upload identification document and address proof. After compliance department verify your document and your account is fully verified you can open live trading account.

Identification documents are: ID proof such as a coloured copy of your passport, personal ID or driver’s license and a proof of address such as a bank statement, utility bill or any other official document that verifies address of your residence. Any proof of address must be current and not outdated by more than 6 months.

Who is Pylon FX?

Pylon FX is a team of professional that have more than 20 cumulative years in different department in Forex Brokerage and Trading field. Our team member has already worked on regional and International brokers in various department. So, feel free and safe that you are with an experienced team who are working day and night to make your experience as much as better on doing business with us.

Do you accept US Clients?

No. Pylon FX prides itself on being an International FX trading firm welcoming clients from across the globe. Sadly, US Commodity Futures Trading Commission (CFTC) regulation prevents US clients trading with non-US brokers. Pylon FX strictly complies with all International regulations and thus at present Pylon FX is unable to accept US clients.

What is your market opening and closing times?

Monday Market Open = 00:01 MT4 Server Time

Friday Market Close = 23:55 MT4 Server Time

*Every day from 23:59 - 00:01 - The Market will be closed for trading - Non-executable prices will still be streamed through the platform at this time.