See below a list of our most frequently asked questions. Here, you can see further information about Palm Global, the trading platform, opening an account or payment queries and more. If you still don't find the answer you are looking for, a member of our team will be more than happy to help.
Palm Global is a fully licensed forex and CFD broker, authorised and regulated by the Securities Commission of The Bahamas.
Our license ensures that we deal in principal only to fulfill customer orders. We will never take the opposite side of a client's trade, but hedge every order immediately with another party. On top of that, we also ensure sophisticated technological safeguards are in place to ensure the privacy and security of our clients’ personal data. Robust firewalls are in place and sophisticated encryption protocols are employed at every stage of data entry, to ensure we are always offering an extremely secure online trading environment.
Whether you are a novice or an experienced forex trader, Palm Global offers an online trading experience suited to your needs. Our team offers 24 hours a day and 5 days a week expert multilingual support to help new traders every step of the way. Our robust platform is packed with the sophisticated charts and tools to meet the requirements of professional traders.
Palm Global offers a wide range of educational and research tools to help you with your trading. In addition to that we are always here to speak to you and answer any questions you might have via telephone, email, live chat or face-to-face in our offices.
Palm Global adheres to strict rules and obligations to offer retail clients the best security. All retail client funds deposited with Palm Global are held in segregated client bank accounts.
The segregation of funds ensures our clients’ money cannot be used by us for operational purposes. All accounts are monitored and reconciled on a daily basis to further protect the integrity of client funds.
At Palm Global, you can trade the global forex market 24 hours a day, 5 days a week. Take advantage of market activity from when the Asian markets open on Sundays at 22:00 UK time to the close of the US market on Fridays at 22:00 UK itme.
On the Palm Global platform you can trade a vast array of instruments, including currency pairs, precious metals, index, energy and commodity CFDs. For a full overview please visit our Product Specification page.
At the end of each trading day all open positions are rolled over to the next business day. A debit or credit is then applied to your account based on the difference in interest rate between the two currencies, dividends for indices, or the drift for commodities involved in the trade. For a detailed overview of the rollover charges per instrument please visit our Rollover Rates.
The spread is the difference between the BID and the ASK price. The BID price is the rate at which you can sell the base currency, and the ASK price the rate at which you can buy the base currency. The base currency is the first currency quoted in a currency pair (e.g. GBP in GBPUSD).
A demo account is intended to test trading strategies in a simulated, risk-free environment. Results achieved on a demo account are hypothetical and trading conditions cannot always reasonably reflect the market conditions that may affect pricing and execution in a live trading environment, including but not limited to lack of liquidity, slippage and/or lack of rejected orders. There may also be instances where the margin requirements and leverage settings might differ between demo and live accounts.
If you're unsure of how to install MetaTrader 4 onto your Mac computer, please read our step-by-step installation guide.
The process of opening a trading account with Palm Global is simple. To register, please fill in our Online Account Form. As a regulated company we are required to verify your identity. We might therefore ask you to send us a copy of your passport or driving license and a proof of address. Once your account has been approved, you can deposit funds and start trading immediately.
Under normal circumstances and provided that we received all documentaton from you, your account can be opened in a matter of hours.
The minimum first time deposit amount is $/€/£ 100
Depositing funds with Palm Global is safe and simple. You can choose from a wide selection of payment methods, including credit card, wire transfer and web money. We are constantly working on adding new funding methods. For more information visit our page Deposits and Withdrawals.
Withdrawing funds from your Palm Global account is fast and via our secure client account management area. Once your withdrawal request has been approved, your funds will be sent via the withdrawal method you chose. For more information visit our page Deposits and Withdrawals.
You can use your MetaTrader 4 demo account for an unlimited period of time as long as you login regularly. If you don't use your demo account for more than 30 days we assume you no longer require the account and the login will be deleted from our server.
The amount of capital utilised to finance a trading position is called margin. How much capital you will need in order to open a trade depends on the leverage applied to that specific product on your trading account. Margin is normally displayed as a percentage and leverage as a factor. A 100:1 leverage is equivalent to 1% margin, a 50:1 leverage is equal to 2% margin.
Leverage enables customers to open and manage positions with a particular notional value by only putting down a proportion of that value. For example, an FX position with a notional value of 10,000 and leverage of 100:1 would require a deposit of 100, or 1% of the notional value.
Without leverage a trader would be required to lodge the total notional value of the contract. At Palm Global we offer leverage of up to 200:1 depending on the product you trade.
For details please visit our Product Specifications page.
The margin required for each open position is calculated using the following formula:
Required Margin per lot = notional value / Leverage
Example:
1 lot EURUSD = EUR 100,000 notional value
Leverage = 200:1 Margin for 1 lot = EUR 500
If the leverage is 50:1 the margin requirement would go up to EUR 2,000
A margin call is an alert from the platform, warning you that your account does not have the required equity. At Palm Global, you will be alerted when your margin reaches 100% that it has slipped below the required margin percentage, and additional funds are needed to secure your open trades. The Palm Global margin call level is 100%.
Palm Global offers flexible leverage ranging from 50:1 to 200:1 on a broad selection of financial instruments. For a detailed overview please visit our Product Specifications page.
The equity is calculated as cash balance plus your profit or loss on open positions. The margin requirement is deducted from your equity to calculate your free margin. As this is done real-time, both your equity and free margin changes with every price change of your open position.
The Palm Global stop out level is set at 50%. This means that if your account balance is less than or equal to 50% of your margin requirements, Palm Global will automatically start to close your open trades, beginning with the largest negative position. This process will continue until your balance has reached at least 50% of the required margin again.
The stop out level serves to reduce the risk of your account incurring losses that result in a negative balance due to adverse market movements.
If you have any questions that our FAQs could not answer or if you are not satisfied with the answer provided, please contact us directly and we will support you.
