FAQ – ImperialGM

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About company

What services does Imperial GM provide?

The services provided by an IMPERIAL GM (a trademark owned by Imperial International LTD) is an Internet trading on the FOREX market. Our clients can conduct transactions related to the exchange rates of various currencies in international currency markets, as well as financial instruments, derivatives (CFDs) and commodities.

How long has IGM been in the market?

Imperial International LTD has been on the market since 2014.

Which liquidity providers does IGM work with?

The main liquidity providers of Imperial International. LTD are the following:

  • Integral (founded in 1993, has offices in New York, London, Hong Kong, Tokyo and Silicon Valley);
  • FastMatch (provides high bit rate access to a huge pool of liquidity);
  • LMAX Exchange (London Multi Asset Exchange, the first European MTF-platform for working on Forex, created on the basis of new technologies);
  • KCG Hotspot (founded in 2000, the company became the legislator of standards of work in the currency markets);
  • FXCM (founded in 1999, the company’s offices are located all over the world);

and others. The list of leading liquidity providers of liquidity is being updated all the time, current information is always available on our website http://igm.issmo.ru/ru/providers/

Where is the company registered?

IGM is registered on the territory of Saint Vincent and the Grenadines. Office address: 1 Bella Rosa Road, Rodney Bay BW Box 332, Gros Islet Saint Lucia, W.I.

Does IGM have offices in Russia?

The company has agents on the territory of Russia. To clarify their contact detail, please contact the IGM manager.

What are the officially regulated relationships between the company and the customer?

The relationships between IGM and its customers are regulated by the User Agreement which is signed while the account is being opened. The agreement specifies all areas of responsibility, duties and reserved rights. You can find this agreement, as well as the Regulation of risk in the Private office in the “Documents” division.

Should the customer pay taxes on his/her profits?

IGM is not a tax agent. We do not reckon on and do not withhold personal income tax from clients. Every citizen of any state is obliged to pay taxes. Citizens of the Russian Federation individually pay tax on incomes of private individuals which currently is 13%. In order to calculate and confirm the taxable base, go to the Personal Office and make a request to provide a certified trade report for the covered period.

Opening an account

How does one open an account?

To open an account you need to fill in a small questionnaire online. Read and confirm your agreement with the Client Agreement and the acceptable risk. Then you will receive an acknowledgement letter on your email address with your login and password for entering the Personal Office. Following the link from the email, you will confirm the registration and opening of the account. To confirm you as a customer you need:

  • passport,
  • the client agreement signed on each page,
  • bank card (4 figures),
  • a photo

You can provide documents after recharging the account. After passing the authentication, the customer can start conducting trading activities.

How does one get a login and a password of a trading account?

You can open a trading account in the Personal Office. To enter, you need to download the MetaTrader platform by a double click. Then the program opens and all the instruments and trades will be visible. You need to go to the division “File” and select “New Account”. Here you need to enter your data: your login and password, and select the server / platform.

How long does it take to open an account?

For online registration on the website, from 10 up to 30 minutes are necessary for creating a personal account and downloading documents. After the authorization, the creation of a personal (trading) account takes no more than 1-2 minutes.

How many accounts can I open in my Personal account?

Each client can open up to 5 trading accounts of each type in the Personal Office. The practice shows that this is quite enough for conducting trade. If you need to open more accounts, contact Customer Support.

How to transfer funds from one account to another one?

You can do this in the Personal Office. Through the complines@imperialgm.com you need to apply for withdrawal of funds from one trading account to another. The duration of the application processing is 1 day.

In which currencies can I open a trading account?

The trading account can be opened in US dollars. If there is a need, you can open an account in a different currency. As practice shows, there is no such a need.

What risks does the client have when opening a trading account and conducting trading activities (sales)?

In IGM there are no additional commissions for the opening and maintenance of a trading or business account. So opening an account, you have a risk exposure associated with conducting trading operations in the FOREX market.

Authentication (document verification)

Why I cannot withdraw funds?

You can siphon off funds in your Personal Office only after the verification procedure which will be approved by the company’s employees. Usually the whole procedure takes 2-3 days. The personal office should receive the status from the employee by a voice message. After that, in the division “Accounts” in the Trading Platform appears “Transaction with withdrawal of funds”.

What documents do I need to provide for the verification of the Personal Office?

To pass the verification procedure, you need to provide a passport (a scan of the 2 and 5 passport pages in the expanded form, so that all the data on the pages will be visible). If the client changed his passport, he/she must also provide an extract that it was changed. And, finally, a photo of the bank card which will show the last 4 figures (the first figures can be covered).

How long does it take to check the documents?

Traditionally, document verification takes up to 24 hours. After this, the credit of funds is on the account.

How can I change my personal information while the registering?

If you have changed any data (contact information, surname) or the validity period of a document, send an application to the customer support manager. The application must be attached to the relevant documents. The data will be changed within 24 hours.

Why I cannot upload my documents for verification?

The file that is being loaded, must not exceed 3 MB. If you still cannot upload documents for some reason, send them to the customer support manager. He/she will load them into your Personal Office.

Why are my documents not checked, although, 3 days or more have already passed?

When the documents are loaded, do not forget to click on the button “Submit for verification”. Otherwise, IGM experts will not see them and will not be able to check.

Margin calls

Margin calls

If you are a trade beginner, this section is for you. How to calculate the minimum amount for a transaction with different financial instruments? Let’s see which characteristic it depends on. To begin with, we give a general formula for calculating the minimum margin calls for a transaction: Marginal calls = Contract size х Minimum volume in lots / level of leverage Here the size of the contract is expressed in monetary value. For example, if the contract contains 20 barrels of Brent oil and the price of one barrel is $ 65, the contract amount is calculated as follows: 65 х 20 = 1300 $. The minimum volume for oil is 1 lot. Level of leverage for this instrument is 1:20 or 1:10, depending on the amount of the deposit. In such a way, in our example Marginal calls = 1300 x 1/20 = 650 $. As we can see, in order to make transactions with Brent oil, you need to have at least $ 650 on the trading account, because one barrel costs $ 65. It can also be the equivalent in another currency at the rate of the platform. The size of the contract can be found in the division “Specification of contracts” on our website. It is the minimum volume of the concluded transaction which is used through the trading platform. Let’s look how to calculate the minimum margin requirement for different tools.

Currency pair USD / RUR

The size of the contract for this currency pair is $ 100,000. The minimum volume of the deal in the MetaTrader 4 trading platform is 0.01 lot. The maximum level of leverage is 1:50. The minimum margin calls is 100,000 x 0,01 / 50 = 20 $

Currency pair EUR / USD

The size of the contract is 100 000 EUR. The minimum volume of the deal in the MetaTrader 4 trading platform is 0.01 lot. The maximum level of leverage is 1: 200. The minimum margin call is 100,000 x 0,01 / 200 = 5 EUR.

Currency pair USD / JPY

The size of the contract is $ 100,000. The minimum volume of the deal in the MetaTrader 4 trading platform is 0.01 lot. The maximum level of leverage is 1: 200. The minimum margin call is 100,000 x 0,01 / 200 = 5 $.

Currency pair GBP / CAD

The amount of the contract is 100 000 GBP. The minimum volume of the deal in the MetaTrader 4 trading platform is 0.01 lot. The maximum level of leverage is 1: 200. The minimum margin call is 100,000 x 0,01 / 200 = GBP. At the rate of GBP / USD = 1.50000 the minimum margin call will be $ 7.5.

XAU / USD (Gold)

The size of the contract is 100 ounces. For example, 1 ounce costs $ 1200. In such a case, in the monetary value the size of the contract will be: The size of the contract = 100 x 1200 = 120 000 $. The minimum volume of the deal in MetaTrader 4 is 0.01 lot. The maximum level of leverage is 1: 100. The minimum margin call is 120,000 x 0,01 / 100 = 12 $.

XAG / USD (Silver)

The size of the contract is 5000 ounces. If 1 ounce costs $ 15, the size of the contract in the monetary value is calculated in such a way: 5000 х 15 = 75 000 $. The minimum volume of transactions in MetaTrader 4 platforms is 0.01 lot. The maximum level of leverage is 1:20. The minimum margin call is 75,000 x 0.01 / 20 = 37.5 $.

SPX (CFD – for the futures contract of the US stock index S & P500)

The size of the contract in this instrument is expressed in the national currency – the US dollar. If the index is quoted 2100 points, then it is expressed in money equivalent of $ 2100. The minimum volume of transactions in MetaTrader 4 platforms is 1 lot. The maximum level leverage is 1:20. The minimum margin call is 2100 x 1/20 = 105 $.

DAX (CFD – for the futures contract of German stock index DAX)

The contract value in this instrument is expressed in EUR. If the index is quoted at 12100 points, it is equivalent to 12100 EUR. The minimum transaction volume in the MetaTrader 4 platform is 1 lot. The maximum level of leverage is 1:20. The minimum margin call is 12100 x 1/20 = 605 EUR.

NIK (CFD – for the futures contract of the Japanese stock index Nikkei 225)

The size of the contract is calculated as 1 contract for the index. In other words it is expressed directly in the national currency JPY. If the index is quoted at the mark of 21000 points, this equivalent is to 21000 JPY. The minimum transaction volume in the MetaTrader 4 platform is 1 lot. The maximum level of leverage is 1:20. Thus, the minimum margin call is 21000 x 1/20 = 1050 JPY. If the rate is USD / JPY 120,000, the amount equivalent is to 1050/120 = 8,75

A21 (CFD – for the euro government debt bonds of Alfa-Bank)

The contract size for this financial instrument is expressed in US dollars. If it is quoted at the mark of 4800 points, it will be equivalent to 4800 dollars. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1: 5. In other words, the minimum margin call is 4800 x 1/5 = 960 dollars.

JPM (CFD – for the shares of US bank J.P. Morgan Chase)

The size of the contract is 100 shares. For example, if 1 share is worth $ 65, the contract size is calculated: 100 x 65 = 6500 $. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1:10. The minimum margin call is 6500 x 1/10 = 650 $.

GOO (CFD – for the shares of the American company Google Inc.)

The size of the contract is 100 shares according to GOO. If 1 share is worth $ 650, the contract size will be 650 x 100 = $ 65,000. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1:20. The minimum margin call is 65,000 x 1/20 = 3250 $.

FBK (CFD – for the shares of Facebook (USA))

According to the FBK, the size of the contract is 100 shares. For example, 1 share is worth $ 85. In this case, the size of the contract: 85 x 100 = 8500 $. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1:10. The minimum margin call is 8500 x 1/10 = $ 850.

LKO (CFD – for the shares of the Russian oil company Lukoil)

The size of the contract is 5 shares. If 1 share is worth 2800 rubles, the size of the contract: 2800 x 5 = 14 000 rubles. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1:10. The minimum margin call is 14,000 x 1/10 = 1400 rubles.

SBR (CFD – for the shares of the Russian bank Sberbank)

The size of the contract is 100 shares, each of which is cost 75 RUB, for example. In money terms this is: 75 x 100 = 7500 RUB. The minimum volume of the transaction is 1 lot. The maximum level of leverage is 1:10. The minimum margin call is 7500 x 1/10 = 750 RUB.

GZP (CFD – for the shares of the Russian oil and gas company Gazprom)

The size of the contract is 100 shares, each of which is cost 150 RUB, for example. In money terms this is: 150 x 100 = 15 000 RUB. The minimum volume of the transaction is 1 lot. The maximum leverage is 1:10. The minimum margin call is 15,000 x 1/10 = 1500 RUB.

Input and output of funds

How can I recruit my account?

The most profitable way to recruit an account is to make a transfer using any bank card, Visa or Master Card. It is also convenient to transfer via Webmoney: the transfer is made without commission for 24 hours. Full details about other ways of recruits you can find on the website and in the Personal Office.

How can I transfer money between accounts?

To do this, you need to leave the application in the Personal Office or send a request to the company employee. After that, the money will be transferred to the specified account within 24 hours.

Is there a commission for input and / or withdrawal of funds?

Inputs of funds are free. The commission for withdrawal of funds is 3% of the amount plus bank commission (the rate is determined by your serving bank).

How long does it take to recruit my account?

The length of the recharge procedure depends on how it was performed. If you made a card transfer, the money will come to the account on the same day. If your transfer by means of WebMoney – up to a day. The speed of the account recharging by bank transfer depends on the bank. As a rule, money enters the account from 2 up to 7 business days.

How quickly are the funds withdrawn from the account?

To withdraw the funds, first, you must make an application. It is reviewed by the company’s employees within 1 day. After that, money is sent. As a rule, it takes from 1 to 3 days. The speed of the funds’ withdrawal may depend on the correctness of the application. Often the account hasn’t got not enough money for the withdrawal of the indicated amount, because the money is not in the account, but in the market.

Can I credit / withdraw funds / to accounts of third parties?

No, it is impossible. In order to withdraw funds of the account of another person, you need a notarized power of attorney. Otherwise, the company considers the funds as an interference by third parties in the personal access of the client and cancels the operation in order not to harm the client and protect himself/herself from further proceedings. It is possible to accept an enrollment to an account of a client from a third party. However, for this one a substantiation is required – a written confirmation of the sender with his/her signature.

Is there a limit for the amount of the funds’ withdrawal?

There is no limit. You can recharge the account on any amount. The withdrawal of funds is limited only by their presence on the personal account.

Why cannot I withdraw funds from my account?

There may be two reasons. The first is an incorrectly drawn up request for cash withdrawal. The second is that there aren’t enough funds on the account. For example, if at the moment of execution of the application money isn’t on the personal account, but is involved in transactions on the market. You can see the amount of funds in the Trading terminal in the division “Free margin”. In such a way, you need to take into account that the funds and free margin are different concepts. Means are what the customer has on his/her account, while some of them may be in the market. Free margin is the part of the funds that can be withdrawn.

I withdrew the funds over 3 days ago, but they have not been hit the account yet. What should I do?

First of all, you need to check the correctness of these details. Then send a request to the bank to get to know if the funds were received. Also, you need to check all the data and try to make a payment again. The payment could revert. There may be several reasons for this. For example, banks can refuse payments until the circumstances are clarified: in connection with the law on deofshorization, such cases are not uncommon. Therefore, sometimes it makes sense to use another way to withdraw funds. You may find out more details about them from the company manager.

Do I have to pay taxes on income on FOREX?

It is necessary, but Imperial Global Markets is not a tax agent. We do not withhold taxes from customers. Paying taxes is the duty and responsibility of every citizen of any country. For sample, Russian citizens need to pay income tax on individuals (PIT) at a rate of 13% of the amount of income. To do this, you can download the history of MetaTrader or request a certified statement from the client’s trading account and submit it to the tax authorities.

Can I withdraw money with open positions?

You can withdraw, but only a free margin. If money is in the market, they cannot be withdrawn.

I transferred funds to a trading account, but I made a mistake in the purpose of payment, what should I do?

In this case, you need to issue a refund. The procedure is executed within 5-7 working days after which the money will be returned to the account. The second option is to issue a payment clarification. To do this, contact the customer support manager.

MetaTrader

What does “Balance” mean?

Balance is an exponent that indicates how much money is on the customer’s account. It takes into account profits and losses, but does not include open positions.

What does “Equity” mean?

Equity means the amount of the client’s funds, including open positions. Funds can be calculated using the following formula: Means = Balance + Profit on open positions – Losses on open positions

What does the error at the terminal MetaTrader mean?

“The trade flow is busy” is associated with an attempt to complete a trade if the trading terminal has not received a response about the status of the previous request to the server. The most common reason is the loss of a network connection between the trading server and the client terminal.

Basic notions

What is spread?

The notion of “spread” means the difference between the requested price (ask) and the sale price (bid) for various financial instruments, that are present on the market at a certain point of time. This difference determines directly the profits of banks and brokers, conducting the purchase and sale transactions for their customers. Spread depends on various factors (e.g., volatility, liquidity). Therefore, the interbank FOREX market can not fix it, no matter what transactions are performed. As a rule, under quiet conditions, the minimal spread is held by banks, brokers and dealers at a fixed level. However, with an increase in volatility or a decrease in liquidity, the maximum spread level is determined directly by market participants. Why is this happening? All participants in times of uncertainty want to acquire an asset at the lowest possible price, and sell – as high as possible. For this purpose they put out a huge number of deferred applications in a very short time. In addition, the risks increase at a time when important macroeconomic data are coming out, force majeure circumstances occur, and at night periods. If you do not follow the rules of risk management, such a trade can lead a customer to tangible losses. You can learn more details about risk management at master classes of our financial experts.

What is volatility?

The term “volatility” refers to the average range of movement of an asset from a minimum to a maximum level over a fixed period.This is an ambiguous parameter. Due to it, while one client receives tangible profits, another can face significant losses. Such risks can be minimized by following the rules of risk management.You can master the skills of risk management at the master classes of our financial experts.

What is liquidity?

Liquidity is the ability of an asset to be sold at market value at the desired time and for a minimal period. Compared to other financial markets, FOREX is the most liquid one. But you need to consider that for different currency pairs liquidity is different. And it largely depends on the time of the operation. For example, the best time to conduct trading operations associated with ruble currency pairs coincides with the time of trading at the Moscow Stock Exchange. This is from 10:00 to 23:50 Moscow time. If the transactions are carried out at another time, out of this time gap, the spread increases. At the same time, it is possible to trade ruble pairs in a 24h regime.

Can the prices for financial instruments from brokers differ at the same time?

Yes, it is quite possible. The fact is that FOREX is an over-the-counter foreign exchange market. There is no standard price at a particular time here. The value of quotes determines the demand and supply from counterparties, the broker interacts with. Let us set an example. Suppose, a certain broker cooperates with the counterparties A, B and C. They conduct a large number of transactions for a particular currency pair. So, at a certain moment t the price 1 is formed. The second broker cooperates with the counterparties A, B, D, E. In the process of their operations, at the same time t the price 2 is formed. The most tangible difference between prices 1 and 2 occurs in periods of increased volatility and extended spread. We draw our clients’ attention to this to raise their attentiveness making transactions when the blocks of macroeconomic data come out at night, and also in cases when open positions are carried over the weekend. For maximum visibility, this situation can be compared with the exchange rate in different banks at the same time. As a rule, they do not coincide.

Is it possible that a pending Stop Loss order is activated at a less favorable price than the one that was in the order?

It is possible. This happens at the situation of a “slip” and / or gap. It can turn out that the price, which is indicated at the client’s application, is not present at the market. The market price grows or vice versa, it decreases, depending on what the client’s open position was. Then the activation of the transaction is carried out at the price closest to the one set in the application, from the price received first. Slippage occurs in all financial markets where real trade in assets is carried out: stock, currency or commodity.

What does the term “slippage” mean?

Slippage is the permissibility of executing a Stop order at a price that is evidently not as profitable as it is indicated. The order “Limit” is an order for a purchase at a price that is lower (and therefore more profitable) than the one that is presented at the market in this period. Or the application for sale at an inflated (also more profitable) price, compared to the market at that time. At the same time, the “Stop” orders assume that the prices indicated when placing at the broker are less profitable than the market prices at that time. In other words, in a “Stop” buy order for a purchase, the price will be higher than the market price, and in the stop buy order, the price is understated compared to the market one. From the above, we can conclude that the warrant “Limit” implies the intention to make a purchase or sale at a more advantageous price than the one that is represented at this time in the market. These are actual orders for purchase and sale, since they are executed at the price that is indicated. An order of the “Stop” type means the intention to buy or sell an asset at a time when the price at the market will reach the rate specified in this order. So, “Limit” (Take Profit) and “Stop” (Stop Loss), contrary to the opinion of some insufficiently experienced traders, are different in essence and the execution order. The Stop order can not be immediately put at the market. The price, which is indicated in it, is less profitable than the market price. And in the market there are a lot of those who want to sell at a higher price and buy cheaper, so this order will be executed very quickly. That’s why the execution of the “Stop” order starts only when the market reaches the price, which is indicated in it. In fact, the “Stop” order is executed at the first price, which is available to the broker. So, brokerage companies that undertake the duty to execute “Stop” orders at the prices indicated in them do not hurry to bring their clients’ transactions to the market. Otherwise, ensuring that slippage is impossible, the broker incurs a loss in the amount of the difference between the price at which the transaction will be made and the actual market price at the time it is committed. That is why self-respecting financial institutions never guarantee that slippage will not happen.

⚠ PREVENTION OF RISKS

Trading on financial markets (in particular trading on margin, currency trading – Forex, and exchange-traded investment funds – ETF) offers great opportunities, and allows investors willing to take risk, get substantial profit. However, trading on financial markets is associated with high risk and might not be suitable for every investor. You may incur a partial, or a total loss of Your investment, so You should not invest capital that you can not afford to lose. You must be aware of the increased risk, which arises due to the use of leverage. Please read the full version of “Customer Agreement” and “Risk Disclosure”.