What is Equity?

The Equity is the secure part of the trading account at any given point in time. When an account has open trades the Equity falctuates according to the Live P/L.

The Equity tells you what impact the live trade positions would have on the balance if the positions were closed. For example, if your balance is $10,000 and your Live P/L is + $700, then your equity would be $10,700!

Equity = Balance + Live P/L.

What is Balance Max Drawdown?

Balance Max Drawdown is the measure of an portfolio’s largest value drop from a peak to a trough. i.e the greatest movement from a high point to a low point.

What is Balance?

The Balance is the total financial result of all fully executed transactions on a trading account. That includes deposits, withdrawals to and from the account, fees for opening trades which are deducted directly from the account Balance (e.g. commissions) and the Realized P/L of all closed positions.

The Live P/L of any open positions does not affect the Balance while those positions are still open. The Balance will be recalculated once those positions close.

For example, if you deposit $10,000 in a new account and you open a trade that wins $200 (live P/L = $200). While the trade is still open the Balance remainss at $10,000. If you close the trade while winning $200, your Live P/L will become $0 and your Balance will increase to $10,200.

What is Leverage?

Leverage is a feature that multiplies the purchasing power in a trading account.

Leverage is the use of borrowed capital to amplify the ability of the trading account to open larger tardining positions.

A leverage of 200:1 allows the account to open positions 200 larger than the amount it has as Free Margin.

What is Unrealised P/L?

Unrealised P/L (Profit/Loss) is the agregate runnning profit or loss of all open positions. The unrealised profit or loss is a reflection of what profit or loss could be made (realized) if all the open positions were closed in that instant. The Unrealised P/L does not become realised until the position is closed.

What is Realised P/L?

Realised P/L (Profit/Loss) refers to the profit or loss on a completed trade. This means on a position that has been opened and closed.

What is Return?

“Return” is a metric that reflects the historical of the account relative to the deposit(s) made in the account using a Time-Weighted Rate of Return calculation. Return is expressed as a percentage.

Why was my deposit unsuccessful?

  • Your account verification process may be incomplete.
  • Your account might have insufficient funds. Check and recharge your balance to make sure you have enough funds to complete the transaction.

Is there a limitation on the amount I can deposit?

There are several deposit limitations on your account, depending on the payment method.

  • Bank transfer: Minimum 200 USD/EUR/GBP – No maximum amount.
  • Cryptocurrency: Minimum 25 USDT – No maximum amount.
  • Credit Card: Not applicable at the moment.

Is using my credit/debit card online safe?

Yes. FinPros is protected by SSL (Secure Socket Layer), which encrypts and secures all sensitive information submitted by our customers, such as credit/debit card numbers, passwords, etc.

How do I deposit money?

Login to your FinPros account, click on “My Wallet” and choose your payment method.

How do I deposit money into My Wallet?

First you need to add your Bank details/Credit Card/Crypto Wallet. Our BackOffice Department will approve your payment method so you would be able to deposit money.

Can I deposit using a friend’s payment method?

No. The source of all deposits must originate from a payment method registered in your own name.

Can I deposit using a corporate credit/debit card/account?

If you have a personal account with us, then you can only fund it from your personal accounts or credit/debit cards. On the flipside, if you register a corporate account with us, FinPros will only accept deposits done from a corporate credit/debit card/account in the name of your company.

Can I deposit from a joint bank account?

Yes, you can. You may only be required to provide a bank statement as evidence to confirm that you are one of the account holders.

Is my money at risk in case of Insolvency/Bankruptcy?

In agreement with Seychelles’ Financial Services Authority (‘FSA’) client funds rules, all client funds are securely held in segregated client bank accounts.

Does FinPros apply overnight financing?

Overnight financing for positions is when you keep positions open overnight, also referred to as a swap. If you keep positions open past rollover time (22:00 GMT) you will either earn or get charged the swap value. The value of the swap depends on the size of your open position, the instrument you are trading, your account type and the direction of your position. There are different swaps for long positions and short positions on each instrument.

Swaps apply triple on Wednesday, because that’s how the banks supplying liquidity to the financial markets apply them. This has to do with the way spot Forex contracts are settled. Spot Forex transactions have a 2-day settlement period. A spot FX transaction made on a Monday, settles on the following Wednesday. Trades from Tuesday settle on Thursday etc. But trades rolled into Thursday settle on the following Monday as there are no settlements over the weekend when banks are closed. Hence the reason for triple swaps applying to running positions at Wednesday rollover time.

Does FinPros charge a Currency Conversion Fee?

We do not charge currency conversion fees. When you move funds between wallets of different currency denominations, we use the exchange rate of the previous night’s close on our platform.

Does FinPros charge any trading fees?

FinPros offer multiple account types, suitable for a variety of traders and trading styles. Each account type has a unique fee structure. To compare the account types, visit the following page: FinPros Accounts.

Are there any hidden fees?

There are no hidden fees at FinPros. We are fully transparent about our fees.

How do I create a FinPros Social account?

  • Download and open FinPros Social from the Apple App Store or Google Play Store.
  • Tap the “First time here? Create your profile now.” button at the bottom of your screen.
  • Create profile and check registration confirmation email we sent you.
  • Check the spam/junk folders if you don’t see the email in your inbox
  • Tap the verification link and click to get verified.
  • Log in with the credentials you chose whe you registered.

How do I log into my FinPros Social account?

  • Open the the FinPros Social App
  • Tap the “Log in” button near the bottom of your screen
  • Use the credentials you chose when you registered to log in.
  • If you have not created a FinPros Social account yet, check FAQ “How do I create a FinPros Social account?”

How can I link my trading account?

  • Tap on the “Account” tab at the bottom right of the app.
  • Scroll down to “Link Account”.
  • Select the server, enter your trading account number and password.
  • Choose if you want to be a Copier or a Signal.

I cannot link my trading account

  • Make sure the server, account number and password are accurate.
  • If you are copying and pasting make sure you are not copying/pasting extra characters (e.g. space before or after the password)
  • Check that you are connecting your Trading password, NOT your Investor password.
  • If your MT5 password is longer than 15 characters you need to change it to a shorter one.
  • If you have Signal account already connected you must close all trades from that account before you can link a new account.

What is a Signal?

A Signal is an account that you can copy. At the top of the “Account” tab you can see the number of Signals you are copying. Tap the number to seee the list of Signals you have chosen to copy.

How do I copy a Signal?

  • Tap the Account you want to copy and tap the blue “Copy” button.
  • Choose the copy size you want:

Proportional by Equity:
Your trade sizes will be proportional to your Equity relative to the Signal’s Equity

Mirror Master Size:
Your trade sizes will be the same as the Signal’s irrespective of the equity on your account

Fixed Size:
Locks the size of trades for all trades

  • Choose if you want to copy the trades the Signal has currently open
  • Choose if you want your trades to be rounded up to the minimum trade size if the app calculates a copy size smaller than your account’s minimum trade size.
  • Tap “Confirm”.

What does “Proportional by equity” mean?

When you copy a Signal using the “Proportional by equity” option, this it adjusts the size of the trade in proportion to your account size relative to the Signal’s account size. This means you are taking a similar risk to the Signal you’re copying. If the Signal’s account size has 10 times more Equity than yours, and the signal opens 1 Lot of USDJPY, the app will open a trade 10 time smaller on your account (0.1 Lots).

How do I stop copying a Signal?

  • Tap profile of the Signal you are copying.
  • Tap the “Edit Copy” button.
  • Tap the red “Stop copying” button.
  • Confirm by tapping “Yes” in pop-up message.

I stopped copying a Signal but my account still opens copy trades.

Please double-check that you have indeed stopped copying the Signal. For more information on how to stop copying a Signal check our FAQ “How do I stop copying a Signal?”.

How can I become a Signal?

You can be a Signal by choosing that Signal option when you link your account and having an opening account balance of at least $500. Most Signals have at least 6 months of trading experience and positive results.

How can I set a Performance Fee?

  • Tap the “Account” tab at the bottom right
  • Choose “Set Fee” and then “Performance”.
  • You can set the Performance Fee up to 50%.

Can I charge a percentage of profits to investors who copy me?

  • Tap the “Account” tab at the bottom right
  • Select “I want to charge my Copiers”

How is max drawdown calculated?

Max drawdown is determined by calculating the client’s running profit, minus the running profit of open trades, and subtracting this from the High Watermark (HWM). Running profit is the net profit of each trade collated including swap and commission charges. The drawdown will not take into account trades placed by the client themselves nor deposits or withdrawals.

If a deposit or withdrawal is made then your max drawdown will need to be reset to adjust to the new balance. You can also reset your max drawdown to take into account how trading has affected your balance.

The Drawdown figure displayed on the “Account” tab in the app is calculated differently and only takes into account realised profit and loss.”

How do I set a Subscription Fee?

Most Signals prefer to set a Performance Fee, but you have the option to charge a Subscription Fee instead.

  • Tap the “Account” tab at the bottom right
  • Choose “Set Fee” and then “Subscription”.
  • The maximum Subscription you can set is $100.

How is a Subscription Fee charged?

If you choose to copy a Signal that charges a Subscription Fee, this fee is charged to your trading account monthly and deducted at the beginning of each calendar month.

Important: Irrespective of how long you have been copying for the month, you’ll be charged the full Subscription Fee.

When is a Subscription Fee charged?

At the beginning of each calendar month.

Important: Irrespective of how long you have been copying for the month, you’ll be charged the full Subscription Fee.

How is a Performance Fee calculated?

Performance Fees are calculated weekly. A Performance Fee is deducted in arrears based on the extent to which total aggregate profit has been achieved considering all closed and open positions, subject to a High Watermark (HWM). If you are copying multiple Signals at the same time, the copy trades of different Signals are considered “in silo” and losses made by copying one Signal do not impact the Performance Fees owed to another; the overall profitability of the Copier’s account is not relevant.

The High Watermark is based on the highest value that a client account has achieved. i.e. Performance Fees will only apply if the Copier continues to increase its profits. The watermark is reset each time the Copier increases its profits; the gain minus the Performance Fee will become the new benchmark. If a Copier suffers losses, then the watermark will remain the same and Performance Fees will apply again when they’ve recovered those losses and made a further profit.

A Copier may make a profit which exceeds the High Watermark but then suffers losses in the same reporting period which reduces their profit back below the High Watermark. Under these circumstances, Performance Fees will be rolled over to subsequent reporting window (the next week) and paid when losses are recovered.

How is a Performance Fee charged?

Performance Fees are calculated weekly. They are charged to a Copier’s trading account when they have been processed and the deduction will be clearly labelled in their trading statement. A deposit will be made in Signal’s trading account shortly after minus an admin Fee.

When is a Performance Fee charged?

Performance Fees are calculated weekly. They are deducted shortly thereafter when they get processed. They are labelled clearly in your account.

What is a High Watermark (HWM)?

The High Watermark (HWM) is the highest value the gains of a Trading Account have ever reached. The HWM is the benchmark for applying Performance Fees. i.e. Performance Fees will only apply if the Copier continues to increase their profits. The High Watermark is reset each time the Copier increases their profits; the gain minus the Performance Fee will become the new benchmark. If a Copier suffers losses, then the watermark will remain the same and Performance Fees will apply again when they’ve recovered those losses and made further profit.

Why did my trade not copy & why was my trade execution late?

If you tap “Positions” and then choose “Missed”, there is an explanation for every missed trade. Such as not enough money in balance, Market not available etc.

Our system works by sending out the request for a trade to be placed and then waits for a response from the trading server. This is instantaneous but we will wait for as long as 15 minutes. If the trade remains within the price parameters set by the Signal you are copying, the trade will be executed within those 15 minutes. After 15 minutes the trade will not be copied. This is why your trade execution could be late or missed.

How can I change my name on the FinPros App?

  • Tap the “Account” tab at the bottom right
  • Select “Edit Profile”

How can I manage my notifications?

  • Tap the “Account” tab at the bottom right
  • Scroll down, under the “Manage” heading select “Settings”.
  • Tap “Notification settings”and configure notifications to your preferences

Can I use multiple Trading Accounts in my FinPros Social app?

No, you can only use one Trading Account per profile.

Can I link an account with a broker other than FinPros?

You can only link a FinPros “Social Pro” account.

How do I delete my account?

  • Tap the “Account” tab at the bottom right
  • Scroll down, under the “Manage” heading select “Settings”.
  • Tap the red “Delete account” button.

Important: when you delete your account you will be automatically logged out

How do I unlink my trading account?

  • Tap the “Account” tab at the bottom right
  • Scroll down, under the “Manage” heading select “Settings”.
  • Select “Account information”.
  • Tap the red “Unlink accout” button.

How do I switch my trading account?

  • Tap the “Account” tab at the bottom right.
  • Scroll to the bottom and tap the “Link an account” button.
  • Enter your new trading account details.

How can I change my account details?

  • Tap the “Account” tab at the bottom right, and then “Edit profile”.
  • On this page you can edit your “Search handle”, “Signal name” and “Equity guide”

How do I change my password?

  • Tap the “Log in” button then “Forgot password”
  • Enter the email you registered with in the required field and tap the “Submit” button.
  • We will send you a link by email to change your password.