FAQ Page 2019-03-05T16:46:49+00:00

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Frequently Asked Questions (FAQ)

Review answers to our top asked questions. If you have a question that is not included in our FAQs, please contact our support desk as we would be more than happy to answer them for you.

How can I obtain an account statement on the MT4 platform? 2017-04-19T11:57:54+00:00

If you want to restore your trading history, you will need to navigate into the Terminal window and select the Account History tab.

Right-click within the Account History tab and select the option “All History’”. Alternatively, you can specify the historical data you would like to review/create a report.

Do another right-click within the Account History window and select “Save as Report”. This will generate a report of each placed/closed trade within the specified period. The format will be in HTML.

Please note that CMG sends daily as well as monthly trading reports to your registered email address. Daily reports will only be sent if there has been some trade activity on this particular day.

Monthly ones will be sent regardless of your trade activities.

How many charts can I have open? 2017-04-19T11:55:27+00:00

There is no limit on the number of charts you can have open.

How do I view historical prices on my MT4 chart? 2017-04-19T11:58:38+00:00

Make sure that you disabled the “Auto Scroll” and “Chart Shift” function on your platform, otherwise the chart will continue to revert to the most recent candle with each market movement.

Navigate to “Charts” and disable “Auto Scroll” and “Chart Shift”.

Alternatively, you can click on the “Auto Scroll” and “Chart Shift” buttons on the Toolbar above the Chart window.

To move backwards on your chart, you can:

  • Click on the chart, hold and drag it towards the right, or
  • Press the cursor button “<=”on your keyboard, or
  • Use the “Page Up” or “Page Down” keys on your keyboard.
Can I display the ASK price on my MT4 chart? 2017-04-19T11:51:43+00:00

Yes. You can display the ASK price for the actual market quote on your charts. Right-click on the chart and select “Properties”.

Navigate into the “Common” tab and tick the box nest to “Show Ask line”.

I see one price line on my MT4 chart. Is this the BID price? 2017-04-19T11:50:22+00:00

Yes. All charts will reflect the BID prices only. This is the case for the actual market quote as well as for the historical prices displayed in the charts.

How do I zoom in or out of my chart? 2017-04-19T11:58:53+00:00

You can navigate on the menu bar to Chart and select to zoom in or out or you can click on one of the buttons on the toolbar above the Chart window.

How do I modify the chart style on CMG MT4 platform? 2017-04-19T11:48:25+00:00

You can navigate on the menu bar to Chart and select the type of chart you desire or you can click on one of the buttons on the toolbar above the Chart window.

How do I modify the periodicity of the chart on CMG MT4 platform? 2017-04-19T11:59:11+00:00

Each chart can be displayed in different time frames. You can choose between the pre-set Periodicities:

  • M1 – 1 Minute
  • M5 – 5 Minute
  • M15 – 15 Minute
  • M30 – 30 Minute
  • H1 – Hourly
  • H4 – 4 Hours
  • D1 – Daily
  • W1 – Weekly
  • MN – Monthly

Periodicities can be selected from the Toolbar on top of the chart or in doing a right-click on the chart, selecting Periodicity.

Can I rearrange the windows displayed on the CMG MT4 platform? 2017-04-19T11:45:35+00:00

Yes. CMG MT4 has several components that you can view or hide from your screen. You can move them individually to personalise your MT4 settings. All windows can be selected in the menu on the top left-hand side.

Navigate into View and select the windows you wish to display on the MT4.

You can choose between:

  • Market Watch: includes all products you can trade on your account as well as the platform time.
  • Navigator: includes all your accounts, expert advisors and indicators.
  • Terminal: includes active trades and historical ones, alerts, mailbox and journal.
  • Data Window: displays information of the open Chart.
  • Strategy Tester: provides the possibility to test your expert advisors functionality. Please note that those tests are only on a limited basis possible, depending on historical data available of each product.
What is One-Click trading and how do I enable it? 2017-04-19T11:43:39+00:00

The One-Click Trading buttons on your CMG MT4 platform will allow you to instantly buy, sell, or close your order at the current market price.

Navigate into Tools and Options and select the Trade tab. Tick the box next to ‘One-Click Trading’ and accept the Terms & Conditions in the pop-up window before clicking OK.

Do a right-click on the specified chart and select One-Click Trading. A little box will appear in the top left-hand corner of the chart letting you Buy or Sell the specified volume.

You can close the order with the One-Click Trading function in the Terminal window on the bottom of the CMG MT4 platform.

Go into the Trade tab and click on the little “X” on the right-hand side of the active trade (next to the profit or loss of the position). This will close the order immediately.

How do I close a trade? 2017-04-19T11:42:21+00:00

There are multiple methods to close an existing open trade/position:

  • Navigate to the Terminal window into the Trade tab and highlight your open position, double click on it and the new order window will appear. Click on the yellow button below Sell and Buy to close out a position.
  • Right click on the highlighted order and select Close Order.
  • If one click trading is enabled you can close a position in clicking on the X on the right hand side of the order line in the Terminal window.
How do I place a trade? 2017-04-19T11:40:59+00:00

Open the New Order window and specify the symbol you wish to place a trade on.

Enter the volume, stop loss and take profit if applicable.

Select the order type Market Execution or Pending Order before activating Sell or Buy.

How can I open a New Order window? 2017-04-19T11:40:20+00:00

There are multiple methods to open a New Order window:

  • Go into the menu bar on the top of the CMG MT4 platform and click on ‘New Order’.
  • Go into the Market Watch window, select your preferred trading symbol, and do a right-click on it.
  • Double click the symbol in the Market Watch window.
My desired trading instrument is not on the Market Watch. Where is it? 2017-04-19T11:38:07+00:00

In case the Market Watch window displays only a selection of the complete product list available on your account, you will need to do a right-click somewhere in the Market Watch window and select from the drop-down menu ‘Show all’.

This will provide you the complete list of all trading symbols on your account.

How do I open a new chart? 2017-04-19T11:37:05+00:00

Open the Market Watch window and drag/drop the desired instrument onto one of the existing chart windows.

You will see the actual market reflected in the chart immediately.

Alternatively do a right click on the symbol in the Market Watch window and select Chart Window.

What is a gap in the market and how does this affect my trades? 2017-04-19T10:33:00+00:00

A gap in the market can occur in a heavy increase in the market after a news release or even between the close and re-opening of the market, which could have a significant impact on the execution of a pending order. Clients should be educated of the risks associated with market volatility, especially near an important release or over the weekend. CMG offers both positive and negative slippage. During a gap in the market, you may lose more than your initial stop, but please keep in mind that the trade was closed at the best available rate. This also applies when there is a market gap and you gained more than your initial limit target.

What is Straight Through Processing- STP? 2017-04-19T10:30:01+00:00

CMG utilizes Straight Through Processing (STP). An STP Forex broker is one that does not have a dealing desk, but instead passes through customer buy and sell orders directly to one or several liquidity providers of the interbank market who become the counter party to the customer’s trade.

When is rollover? 2017-04-19T10:28:41+00:00

Rollover time is around the New York closing time (17:00 EST).

What is hedging? 2017-04-19T10:27:51+00:00

Hedging is when you have long and short positions in the same instrument open simultaneously. If you’re fully hedged, you will have long and short positions open in equal volumes.

Having hedged positions will reduce your total margin requirement. For fully hedged positions no margin will be required.

In case the market moves against your positions and your Equity falls below zero, your positions will be stopped out by our Automatic Risk Management System, beginning with the position holding the greatest loss.

What is a Re-Quote? 2017-04-19T10:26:57+00:00

A re-quote occurs when you request to execute an order at a specific price that is no longer available and you will be offered a new quote that you will need to accept in order to place the trade.

Note that this can happen during fast-moving markets.

What is a Take Profit Order? 2017-04-19T10:25:53+00:00

A take profit order is used to lock in profits if the market moves in your favour. If the price reaches a take profit level, the position will be closed automatically.

Take profit orders are useful when you are unavailable to monitor your open positions.

If you take a long (buy) position your take profit level will be higher than the price at which you bought. If you take a short (sell) position your take profit level will be lower than the price at which you sold.

What is a Stop Loss Order? 2017-04-19T10:25:16+00:00

Stop loss orders help you to minimise losses in the event the market moves against you. If the price reaches a stop loss level, the position will be closed automatically on the next available market price.

You can add a stop loss in the New Order window when you place a market or pending order.

If you took a long (buy) position your stop loss will be lower than the price at which you bought. If you took a short (sell) position your stop loss will be higher than the price at which you sold.

What is a “PIP”? 2017-04-19T10:24:30+00:00

On CMG MT4, one standard “PIP” is the fourth decimal place for most currency pairs in the market (or second decimal places for JPY pairs).

What is slippage? 2017-04-19T10:21:32+00:00

Slippage can occur when orders are filled away from the desired price due to gaps in the market.

This can sometimes happen because market prices can be very volatile or liquidity can be thin. In these scenarios, orders cannot always be filled at the exact price, but at the next available price.

How do I place a pending order? 2017-04-19T10:20:28+00:00

If you want to place a pending order, please open the “Order” window in one of the following ways:

  • Right click on the Market Watch window or on the Trade tab of the terminal window and select New Order; or
  • Double-click on the currency pair in the Market Watch window; or
  • Click on the button New Order in the toolbar; or
  • Right-click on the chart window and select Trading and select New Order.

Select the order type Pending order from the drop-down list and specify your preferred opening price as well as your stop loss and take profit levels if applicable.

What is a Buy/Sell Stop Order? 2017-04-19T10:18:30+00:00

A BUY/SELL stop order is an instruction to deal if the price moves to a less favourable level than where it is in the market at the moment (note: It is less favourable to buy at higher prices and to sell at lower prices). A stop order is a request to buy at a price higher than the current market price or a request to sell at a price lower than the current market price.

What is a Buy/Sell Limit Order? 2017-04-19T10:18:46+00:00

A BUY/SELL limit order is an instruction to deal if the price moves to a more favourable level than where it’s in the market at the moment. Those orders are called ‘improvement orders’ as well. A limit order is a request to buy at a price lower than the current market price or to sell at a price higher than the current market price.

What are pending orders? 2017-04-19T10:16:23+00:00

A pending order is the trader’s commitment to buy or sell an instrument at a specified price sometime in the future.

Most commonly, you can use a pending order to create an order that will be executed automatically if the market reaches a certain level. The order essentially contains two variables – price and duration. You can specify the price at which you would like to buy/sell an instrument and also specify the duration that the order should remain active.

You can select from four different pending order types.

  • For a Buy Limit the current market has to be offered at, or above, your chosen level.
  • For a Sell Limit the current market has to be bid at, or below, your chosen level.
  • For a Buy Stop the current market has to be offered at, or below, your chosen level.
  • For a Sell Stop the current market has to be bid at, or above, your chosen level.
What is the maximum trade/order volume I can place? 2017-04-19T10:12:31+00:00

The maximum volume you can trade depends on the type of account you hold and your available margin.

What is a market execution order? 2017-04-19T10:11:45+00:00

A market execution order is one that is executed at the best price available in the market at that time. There are no re-quotes, but the price will not necessary be the one you saw on the screen when you placed the order.

The price the order is filled at may sometimes differ from the price seen on the platform because:

  • the market may have moved on and your specified price is no longer available anymore, or
  • the trade volume you requested may be larger than the volume available in the market at the best tradable bid/offer price shown on the screen.
Are there limits to trade/order volume? 2017-04-19T10:03:54+00:00

There are no limits to the size or number of positions that a trader may hold. Available margin in the account is the only constraint on the size of a position.

Is CMG AU regulated? 2017-07-20T04:40:22+00:00

Yes. CMG Australia Pty Ltd (ACN 618 480 998 & CAR No. 001256635) ‘CMG’, is a corporate authorised representative of AxiCorp Financial Services Pty Ltd (ACN 127 606 348 & AFSL No. 318232).

How does news announcements affect my trades? 2017-04-19T10:01:50+00:00

Major news and announcements can often cause volatility in the Forex market and therefore affect tradable instruments as a result. During these times, orders may be filled away from the desired price due to gaps in the market. Please note that when you attempt an instant execution order, you may be re-quoted within a few seconds and in case of a pending order, you may experience slippage.

What does trade/order volume signify? 2017-04-19T09:59:50+00:00

The term trade/order volume refers to the number of standard lots you want to trade. 1 standard lot is equivalent to 100,000 units of the base currency.

Does CMG charge commission? 2017-04-19T09:57:51+00:00

Depending on the type of account you hold with CMG, commissions may be applied. All commission charges are clearly stated in all account statements for your review.

In what base currencies can I hold my CMG account? 2017-06-19T17:11:34+00:00

You have the option to open your CMG MT4 account base currency in USD.

What is Forex Trading? 2017-04-19T09:52:43+00:00

Foreign Exchange, also known as Forex or FX, is the simultaneous buying of one currency while selling another currency. The Forex market is available 24 hours a day, five days a week, and it is one of the largest, most liquid financial markets in the world.

What are your trading hours? 2017-04-19T10:13:43+00:00

CMG’s trading hours vary by product instrument. For Forex, trading opens on Sundays between 5:00 PM EST and 5:15 PM EST and remains open until market close on Fridays around 4:55 PM EST.

What is rollover? 2017-04-19T10:14:20+00:00

Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because Forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll). Rollover can add a significant extra cost or profit to your trade.

The CMG MetaTrader 4 Client Terminal automatically calculates and reports all rollover for you.

What is margin? 2017-03-10T21:53:37+00:00

Margin can be thought of as a good faith deposit required to maintain open positions. This is not a fee or a transaction cost, it is simply a portion of your account equity set aside and allocated as a margin deposit. Margin requirements (per 1k lot for FX and 1 Contract for CFDs) are determined by taking a percentage of the notional trade size plus a small cushion. A cushion is added to help alleviate daily/weekly fluctuations.

What is spread? 2017-04-19T10:14:36+00:00

The spread is the difference between the BID and the ASK price of the trading instrument. The BID price is the rate at which you can sell a currency pair, while the ASK price is the rate at which you can buy a currency pair. The spreads of the trading instruments offered by CMG are variable. meaning that the spreads can fluctuate depending on the conditions of the market during the time of trade.

What is the trade size on an order? 2017-04-19T10:13:22+00:00

In Forex, 1.00 standard lot (order volume) is equivalent to 100,000 units (notional value) of the base currency. At CMG, the minimum order size on a Forex trade is 0.01 lot, which is equivalent to 1,000 units (notional value).

Level 10, 90 Arthur Street,
North Sydney NSW 2060, Australia

P: +61 2 4036 3165
E: support@cmgau.com

ASIC regulation under AxiCorp’s AFSL
ACN 618 480 998. CAR 001256635

Risk Warning: CMG Australia Pty Ltd (ACN 618 480 998 & CAR No. 001256635) ‘CMG’, is a corporate authorised representative of AxiCorp Financial Services Pty Ltd (ACN 127 606 348 & AFSL No. 318232). Investing in over-the-counter derivatives carries significant risks and is not suitable for all investors. You could lose substantially more than your initial investment. When acquiring our derivative products, you have no entitlement, right or obligation to the underlying financial asset. CMG is not a financial adviser and all services are provided on an execution only basis. CMG is authorised to provide general advice only and information is of a general nature only and does not take into account your financial objectives, personal circumstances. CMG recommends that you seek independent personal financial advice. A Product Disclosure Statement (PDS) for our financial products and our Financial Services Guide (FSG) are available at www.cmgau.com or can be obtained free of charge by calling CMG. The PDS and FSG are important documents and should be reviewed prior to deciding whether to acquire, hold or dispose of CMG’s financial products or services. The information on this website is for Australian residents only.