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A1 : Foreign Exchange is the simultaneous buying of one currency and selling of another. The Foreign Exchange market, also referred to as the “Forex” or “FX” market, is the largest financial market in the world, with a daily average turnover of over US$2 trillion, several times more than all the worlds equities markets combined. (Note: trading is not conducted on a regulated exchange and as a result, there are additional risks associated with forex trading)
A2 :
A : 24-hour market
A : trader may take advantage of all profitable market conditions at any time. There is no waiting for the opening bell, breaks for lunch, suspended trading, etc. (Note: trading is not conducted on a regulated exchange and as a result, there are additional risks associated with forex trading)
High liquidity
The Forex market with an average trading volume of over $2 trillion per day is the most liquid market in the world. It means that a trader can enter or exit the market at will in almost any market condition with minimal execution costs or risk and no daily limit.Low transaction cost
The retail transaction cost (the bid/ask spread) is typically less than 0.05% (5 pips or points). FXFor Japan offers spreads from 0.025% (Gold accounts) so clients can benefit from very small moves in the market.Profit in rising and falling markets
A : trade in the Forex market involves selling or buying one currency against another. A bull market or a bear market for a currency is defined in terms of the outlook for its relative value against other currencies. If the outlook is positive for JPY, we have a bull market in which a trader profits by buying JPY against other currencies. Conversely, if the outlook for JPY is negative, we have a bull market for other currencies and traders profit by selling JPY against other currencies. In either case, there is always a good market trading opportunity for a traderNo Central Exchanges
The backbone of the Forex market consists of a global network of dealers. They are mainly major commercial banks that communicate and trade with one another and with their clients through high-speed electronic networks and telephones. There are no organized exchanges to serve as a central location facilitating transactions the way the New York Stock Exchange or Tokyo Stock Exchange serves the equity markets. (Note: because trading is not conducted on a regulated exchange, there are additional risks associated with forex trading)No Insider Trading
The Forex market is so vast and has so many participants that no single entity, not even a central bank, can control the market price for an extended period of time. In fact, interventions by mighty central banks are becoming increasingly ineffectual and short lived. Thus central banks are becoming less and less inclined to intervene to manipulate market prices. It is a very level playing field where anyone at anytime from anywhere can participate and has the potential for good investment returns.
A3 : Historically, the trading of foreign exchange has been dominated by the large international banks. The other major players include central banks, hedge funds, corporations and investment managers. However, with the recent availability of internet based trading systems and reduced fees there has been a rapid growth in the number of retail or private individuals trading forex.
A4 : Forex is a true 24-hour market. This offers a major advantage over stock and futures trading. Forex trading begins each day in New Zealand and then moves around the globes major financial centers to Tokyo, London, and finally New York. Except for weekends, somewhere in the world, there are always market participants actively trading foreign exchange. (Note: trading is not conducted on a regulated exchange and as a result, there are additional risks associated with forex trading)
A5 : Foreign Exchange is affected by various economic and political factors. The largest fluctuations in currency prices usually occur during Central Bank intervention, when governments trade in very large amounts in an attempt to either raise or lower the value of their own currency. This, as well as many other factors such as interest rate changes, economic figures, political issues, charting/technical levels, large lot transactions by institutions and much more can move the market. Please see our Currency Guide for country specific information.
A6 : The Major currency pairs account for over 80% of Forex transactions, and are therefore the most liquid and attractive to speculators. The 4 Major currency pairs are EUR/USD, USD/JPY, GBP/USD and USD/CHF. The EUR/JPY, AUD/JPY, NZD/JPY and EUR/GBP crosses are also commonly traded.
A7 : FX is a high risk/high reward type of investment. FXFor Japan therefore only accepts as clients individuals who demonstrate the required level of understanding. Please visit our LEARN page for trading basics, tools and tips and click here to review important risk information.
A1 : We charge no fees or commissions whatsoever. FXFor Japan is compensated by revenues from its activities as a currency dealer, including proceeds from buying, selling, converting, as well as holding currencies.
A2 : The founder and president have more than 25 years experience in Japan's financial markets between them. This local knowledge backed by commission free trading, 64 currency pairs, mobile access, FXFor Japan's award winning platform and much more offer residents of Japan an unparalleled opportunity to experience the forex markets with confidence and support.
A1 : Unlike stocks where margin involves borrowing from a broker/dealer to buy a stock, Forex Margin indicates the minimum amount of money needed to execute a transaction. In this case your deposit acts as collateral for your trades. Typical margin in FX trading is 2% (50 to 1 leverage) of the value of the trade.
A2 : In FX, leverage is the use of margin to control a large amount of money with a relatively small amount. Leverage is an exceptionally good tool that can be utilized to increase your profits, but it can also increase your losses. It is a key component of FX and requires a trader has a good risk management plan.
How it works?
For Example: in order to trade 100,000 units of USD/JPY traditionally, a trader needs 100,000 US dollars or 1:1 leverage (trading cash). However, with 100:1 leverage, a currency trader is only required to deposit 1/100th of the amount needed, 1,000 US dollars.
A3 : In the spot Forex market trades settle two business days from the transaction date. If a trader sells 10,000 euros on Tuesday, the seller must deliver 10,000 euros on Thursday unless the position is held open and rolled over to the next value date. Roll over involves exchanging the expiring position for a position expiring the following settlement date. However, the positions being exchanged are not usually valued at the same price. If a trader is long the currency bearing the higher interest rate, the position “being sold” is worth more than the position being acquired. The reverse is also true; if a trader is short the currency bearing the higher interest rate, the trader is acquiring a position worth more than the one “being sold”. The amount of the difference varies based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day.
Wednesday 3day roll
On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position is three times the usual amount. This “3-Day” rollover accounts for settlement of trades through the weekend period. When there are bank holidays in either settlement country the normal roll schedule does not apply.
A4 : Slippage relates to orders being filled at a price which is worse than the stop price requested by the customer. Slippage on all stop orders is possible during times when Kawase Trader is closed, around fundamental announcements, and times of extreme market volatility.
FXFor Japan's Kawase Trader is closed from Sat at 6am Tokyo until Monday at 4am Tokyo. During this time markets may move. All stops which are due for execution will be filled at the opening rate which FXFor Japan is quoting Monday at 4am. See weekend stop/limit orders
Stops may also slip during fundamental announcements and extreme market volatility. The release of fundamental data and extreme world events many times causes increased volatility in the market. When economic data or world events are announced, the market may “ gap” in a particular direction. This means that there are no tradable prices between the actual price the market was trading prior to fundamental release or world event and the price available after the market has adjusted, following the release or event. Prices move very quickly and orders are filled in some cases at prices very far away from the stop price. This can be a consequence in any market that is affected by an influx of data around these times.
A1 : Kawase Trader communicates with the bank's server via various TCP Ports. Kawase Trader attempts to automatically detect the correct communications settings from your Internet Explorer setup.
If you are having problems using Kawase Trader and you are situated behind a firewall or proxy server, check with your system administrator that the relevant ports are open.
A2 : This will explain how to get the Kawase Trader to run if you have the McAfee Security 2005 version 7.0 suite installed on your PC.
1) During the installation phase of the Kawase Trader, the McAfee Security Suite will come with an alert stating that program Kawase Trader is requesting access to the internet. Click on the button “ Grant Access” in order to continue and complete the installation of the Kawase Trader.
After the installation is complete you will want to run the Kawase Trader for the first time. You will be presented with a login screen and using your provided login credentials click on the Ok button in order to logon to the Kawase Trader.
2) The McAfee Security Suite will come with an alert stating that the program IitClientStation2.exe is requesting access to the internet. Click on the “ Grant Access” button in order to continue to login on the Kawase Trader.
You are now logged into the Kawase Trader and have configured the McAfee Internet Security Suite to work with the Kawase Trader.
Please be aware that when new updates are available for the Kawase Trader, the McAfee Internet Security Suite will ask you the same question as in point number 2.
A3 : To get the Kawase Trader to run if you have the Norton Internet Security 2006 suite installed on your PC please do the following:
1) During the installation phase of the Kawase Trader, the Norton Internet Security suite will come with an alert stating that the program Kawase Trader is requesting access to the internet. Click on the button “ CLOSE” in order to continue and complete the installation of the Kawase Trader.
2) The Norton Internet Security suite in default security mode will come with an alert stating that Norton Internet Security suite has learned that "IitClientStation2.exe" should access to the internet. Click on the "CLOSE" button to accept the alert.
3) If the Norton Internet Security suite is set to "high security", Norton Internet Security will ask if Java applets should be allowed to run on your PC, allow these Java applets when using the Kawase Trader as Java is an integrated part and is required in order to get the Kawase Trader to run correctly.
A1 : These errors are related to the Kawase Trader not being able to connect to the trading server. Try the following, step-by-step:
1) To check your internet connection, go to
3) You can test connectivity through port 1001 on our port test page
by pressing the "port test link". If everything is ok, you should
get "You have reached the trading system port test page using TCP
port 1001".
a)
Open the Kawase Trader
b)
Click "Change Connection Settings", then go to: Connection Settings
c)
For the SIMULATION system, the "URL or Domain name" should be:
simulation.saxobank.com For the LIVE system, the "URL or Domain
name" should be: livetrade.saxobank.com Port number should be
1001 "Use HTTP" and "Connect via proxy server" should NOT be ticked.
A2 : This is caused by using the wrong login id or password, you are connecting to the wrong platform or your account has expired.
1) Delete your user name and password from the login screen, carefully retype these and try to login again
2) Click WORK OFFLINE in the login box, check the "URL or domain name" is correct for the platform you want to connect to:
Simulation platform: simulation.saxobank.com
Live platform: livetrade.saxobank.com
3) If you are still getting this error message then email
including
the error message, the platform you want to connect to (Demo or Live)
and your login id.
A3 :
1) Click OK to the error “Could not decrypt session key”.
2) A new prompt will appear “There is a Key Mismatch, please....” please click “Close Window” to this error.
3) Go to Tools (on the top menu) >> Key management >> Delete current Key, delete the current key.
4) You will be asked “In order to login again, you will need either to load a backup key or generate a key”, Click OK.
5) You will be taken to the Key Management screen, if you have a backup of your last key, load this. Otherwise click on “Generate new key”, Click “Yes” to proceed.
6) You now need to contact your Account Executive or contact Customer Services on +45 39 77 40 01 in order to get the key activated.
A4 : You are getting this error message because you are logged into Kawase Trader from another/or the same computer.
Close the Kawase Trader on the PC you first logged into to be allowed to login on the current computer.
If you have confirmed there is not another connection then please
email: ![]()
A5 : The PC is using Windows 95 which is no longer a supported operating system. Please upgrade to Windows 2000 or newer.
A6 : This error will appear if the server is down for maintenance.
A7 : Your account has been locked out. Please contact Customer Services on +45 39 77 40 01 to open it again.
1) The Charts require Microsoft .NET 2.0 and News require Java
2) Internet explorer security settings, if the security level of the internet explorer, is too high, the charts and streaming news, can in some cases be blocked.
3) To make sure you have the latest version of Java go here
A2 : This maybe caused by the Kawase Trader web modules using the Internet Explorer proxy settings it they are present and the proxy settings are entered incorrectly or are no longer in use.
To solve this please do the following:
A1 : Yes, it is possible to run the trader on more then one PC.
On the simulation this can be done by just downloading the system
to the second PC using this link and logging on with the same login
id and password: Demo Trader
(NOTE: You can not login to the Kawase Trader
twice using the same login id.)
On the Live platform you have to do the following:
1) To download the Trading platform onto the second PC, use this direct link: Kawase Trader Live
2) When this is done you have to export your existing cryptographic key:
| a) | Log into the working Trading platform |
| b) | Tools >> Options >> Key Management >> Backup Key >>Enter a Password for the key (Note that this password is only to secure the key on the removable media) >> Choose a location (Floppy a:\ is recommended) >> A messages will appear 'Your Key has been saved'. |
3) Now you need to transfer the key to another PC where you have installed the Kawase Trader:
| a) | Log into the Kawase Trader, you will be asked "In order to login again, you will need either to load a backup key or generate a key". |
| b) | Say 'OK' to that message and go Tools >> Options >> Key management, Click the "Load backup key" button |
| c) | Choose the location where you are loading the key from and then enter the password you chose in 2b), when you have been successful a message will appear 'Key imported successfully'. |
| d) | Login to the Kawase Trader on the second PC, this time encrypted |
A2 : In a word - Yes:
All communications between the Client Station and the bank are encrypted using the Microsoft CrytoAPI and uses the Microsoft Base (or Enhanced) Cryptographic Provider. The encryption algorithms used are the RSA public key exchange algorithm and the RC4 stream encryption algorithm with a session key length of 40 or 128 bits.
Private/Public key pairs are used to authenticate users, which are randomly generated from the Client Station in coordination with the bank. The public key is automatically sent to the bank for storage and the private key is stored on the client's machine. The private key can be either 512 or 1024 bits long and for all practical purposes, is impossible to break.
With proper local administration of their User ID and Password, clients can be confident that they are well protected against misuse of their accounts from the Internet.
A1 : You can reinstall the Kawase Trader for the relevant platform, from the link below:
A2 : You can do the following:
A3 : Yes, you can:
1) Please click on the links below to install the Kawase Trader for the simulation platform:
a) Demo Trader
1) Please click on the links below to install the Kawase Trader for the live platform:
c) Login to the Kawase Trader and click "Yes" to accept the upgrade
A1 : Kawase Trader can be used on a PC with any
of the following Microsoft Windows operating systems:
Windows 2000, Windows XP, Windows Vista or Windows 2003 server.
Internet browser requirements:
Internet Explorer 5.5 or later must be installed but does not need
to be the default browser.
Kawase Trader requires a PC with the following minimum and recommended specifications:
Other requirements:
Support for right-to-left languages must be installed in Windows,
in order to run the Arabic version.
Adobe Acrobat Reader must be installed in order to view some of the analysis pages, incorporated into the Kawase Trader The latest version of the program can be downloaded from Adobe.
The system must support long file names, i.e. file names that are longer than 8 characters plus a file extension For example, file names such as 'Supertrader.doc' must be possible.
Macromedia Flash Player 6.0 or later is required to view some elements of the Help. The newest version of the program can be downloaded free of charge from Adobe.
A : JAVA virtual machine must be installed to view the Streaming News and Instrument Information pages.
Internet Connection:
Access to the Internet is required through an Internet Service Provider
(ISP), either directly or from behind a firewall/proxy which allows
TCP Traffic through Port 1001 or HTTP traffic. Refer to the Firewall
setup page.
Macintosh:
Kawase Trader has not been tested on Macintosh, and therefore we cannot
guarantee full functionality. We recommend using an Intel based Macintosh
with a bootcamp Windows installation.
Hand-held devices:
Kawase Trader cannot be run on handheld devices - Windows CE is not
supported.
Linux:
Kawase Trader cannot be run on Linux - 'For PC' emulation software
is not supported.
Windows 95 and 98 (First edition):
Not supported
A2 : You will always have the latest version of the Kawase Trader.
Whenever you start the Kawase Trader, it automatically checks for updates and notifies you when an update is available. You can then choose to update immediately or wait for a more convenient time.
A3 : The Instrument/Symbol is not showing because you do not have the most up to date instrument list on your PC. To make sure you have the latest instrument list go to the installation folder of Kawase Trader (usually: C:\Program Files\FXFor Japan(Silver or Gold)\Kawase Trader(Silver or Gold) find all the files with the extension .Xic and delete these files.
You should now recieve the latest instrument list.
If you still can not retrieve the Instrument/Symbol you require then please contact Customer Service to check that your account indeed is setup for the Instrument/Symbol.
A4 : You can see this in the online help under the “Info” tab
A5 : No, the Kawase Trader relies on some of the Windows Operating system components so therefore will not work on the Mac OS.
We have heard of a few people that have installed the Kawase Trader on a Windows Emulator on a Mac and got the software working. This will not be supported by Technical Support.
A6 : At the moment there is no version of the Kawase Trader that runs on the Operating System of a PocketPC or Palm device.
A7 : Kawase Trader layout can be completely customised enabling you to:
For more information refer to 'Customising your trading platform' in the Help function within Kawase Trader (press the F1 key to start the help function)
A8 : This is more than likely because your Security settings are too high in Internet Explorer.
To show the account summary please do the following for Windows 2000/XP
A9 : At the moment there is no version of the Kawase Trader 2 that runs on the Operating System of Linux.