FAQ
FAQ

 How to search for AUGS regulatory information on the Australian Securities and Investment Commission (ASIC) website?

AUGS MARKETS PTY LTD is authorised and regulated by the Australian Securities and Investments Commission (ASIC). The Australian Financial Services License Number: 374686, you can check our registration information on the ASIC official website, we have the top class licenses.

1.Visit the official ASIC website at http://www.asic.gov.au/. You can check the registration information via the button "Professional registers" on the right side of the homepage.

2. Enter our company name in the first column of the search box or enter license number 374686 in the second column. Then select the first Australian Financial Services License from the drop down menu. After selecting, click the “Search” button to go directly to the query result page.

3. Check the ASIC registration information. You can see that we have been taken over by the Australian authorities since 2011.

 What is a margin?

Margin is a guarantee of a position. With a margin, traders can borrow or leverage on a small amount of net worth to finance a trade. Investors should note that the higher the margin usage, the greater the risk.

 What does it mean to be bullish or short?

The bulls are buying currencies at a certain price and hope to sell them at a higher price later. Traders who adopt this strategy will profit when the price rises. A bearish position means that the trader expects the price to fall and sell the currency. This strategy allows traders to profit when the price of the currency pair falls.

 

 What do trading terms such as bid/ask, spread, and rollover mean?

All foreign exchange quotes contain two prices, the selling price and the buying price, and the selling price is always lower than the buying price.


Ask

Refers to the price at which the market is willing to buy a currency, that is, the price at which the trader may sell the base currency.


Bid

Refers to the price at which the market sells a certain currency. That is, the trader can buy the base currency at that price.


Spread

Refers to the difference between the purchase price and the sale price. At AUGS, the only cost of executing a trade is the bid-ask spread, the spread. AUGS provides fixed and floating multiple spread mechanisms under normal market conditions.


Rollover

The extension period extends the expiration date of the position that is about to expire to the next settlement date. The positions of the extension are no longer valued at the same price. If the trader has a higher interest rate currency, the sell position is more profitable than the buy position; vice versa, if the trader has a higher short rate, the buy position is more profitable than the sell position. . Such differences vary depending on the currency pair, the spread between the currency pairs, and the daily volatility. For more information on the renewal policy, please click on the Terms and Conditions section.


Go long/short

Bullish investors are optimistic about the market outlook, while bearish refers to investors are pessimistic about the market outlook.


Buy limit order

Buy at a lower price than the current market price, and do more at the low level.


Sell limit order

Sell at a higher price than the current market price, short at high.


Buy stop order

Buy at a higher price than the current market price.


Sell stop order

Sell at a lower price than the current market price, and chase after the low.


Execution price

Refers to the price at which the order is executed.


Good till cancellation (GTC)

An order that buys or sells an asset, which is always valid until you execute or cancel it.


Hedging

A strategy to reduce investment risk by diluting the risk of a major portfolio by investing in alternative investment vehicles, thereby reducing the volatility of the portfolio.


Limit order

An order to buy or sell a predetermined quantity of a product at a specified price or a more favorable price. A limit order for an open position that is closed is a sell order. A limit order for an open position that is closed is a buy order. The limited price list is always valid until the customer closes the position or cancels the limit order.


Close the position

Refers to any transaction that offsets or closes a long or short position.


Market order

Refers to an order to buy or sell a currency pair, index or commodity immediately at the most favorable price.


MOC

Refers to a market order that is executed as soon as possible at the end of the trading day, also known as a "tailing order."


OCO

Refers to the execution of any type of order, the position will be closed, and the other order will be automatically cancelled.

 What is the difference between an inner day position and an overnight position?

The inner day position refers to a position that was opened at any time during the 24-hour period and closed before 17:00 pm on the Eastern Time trading day. Overnight positions are positions that have not been closed after the close of trading at 17:00 pm ET on normal business hours.

 What happens to my open positions at the end of the trading day?

Unopened transactions at the end of the afternoon trading day in the US Eastern Time remain open, but the position costs need to be adjusted in accordance with standard interbank market agreements. The adjustment is based on the spread of the two currencies in the currency pair being traded and the change in the current delivery date. For more information on overnight interest charges, please click on the Terms and Conditions section.

 How is the currency price determined?

Currency prices are affected by many factors, such as volatility caused by economic, social, and political events, interest rates, inflation, and political stability. AUGS' trading platform uses proprietary interbank market quotation systems to obtain price and risk data. The algorithm of our quotation system can react to market changes within milliseconds.

 How do I manage risk?

To manage risk, traders must set a position limit. This limit is based on the funds in the trader's account. If your net worth is lower than the margin required to maintain your current position, AUGS' trading platform will automatically issue a margin call to minimize risk. Regardless of the size and nature of the positions in the account, all open positions will be closed immediately.

 Can I trade on a fixed spread?

No.

 What is the difference between a demo account and a real trading account?

AUGS's demo account platform is fully functional, providing real-time bid/ask quotation systems, messaging systems and charting tools. The software used in the simulation platform is identical to the software in the real account. But there is one important difference: there is no capital risk in trading within the demo account.

 How much does it cost to open an account?

In principle, we do not set a deposit limit for opening an account, but for the products you want to trade, you need to consider the minimum margin requirement for the relevant contract.

 How to open a trading account at AUGS?

Fill out the online account application form

Our online account opening form can be completed in just a few minutes. Please ensure that you have filled in the correct information and if you have any questions, please contact us.

Provide identification documents

The government-issued photo identification document is on the reverse side, such as a driver's license, passport or resident ID card. And please sign your name on the copy.


 How to deposit funds in AUGS?

Once your account has been successfully opened, you can deposit funds into your account in the following ways.

a. Use bank card to enter the deposit in RMB

b. Bank counter or online banking wire transfer

 

 

Receive email notifications

The notification will confirm receipt of funds and activate the account. The email also includes information such as the username and password required for the real transaction.

 When is the funds deposited into my account?

After receiving the renminbi deposit request, the money will normally arrive in the account immediately. In rare cases, it may take up to one business day to deposit into your account. Bank wire transfers may take up to 48 hours.

 

In order to minimize the risk of financial fraud, we may ask you for relevant documentation before processing a bank transfer. These certificates will be used to confirm your transfer.

 

If the deposit is recovered, AUGS does not guarantee the time of deposit.

 How can I withdraw funds from my account?

To withdraw funds from your account, please log in to the customer background to fill out the withdrawal form.

If you have questions about the procedure, please contact our customer service department.

In order to comply with the anti-money laundering policy, customers can only withdraw funds through the original deposit channel.

 What is the net deposit?

Net deposit measures are developed by us to comply with a range of financial restrictions or regulations imposed by regulatory agencies. We also use this mechanism as an internal security measure to combat security issues such as money laundering, bank card theft, and fraud.


In short, what kind of payment is deposited in the funds can only be taken out in the same way.


Suppose you use two bank cards in the process of depositing your account, deposit $500 through the A card, and deposit $550 through the B card. This gives you a net deposit of $1050. Then you use these funds to open some transactions and then close the position. The account balance has been changed to $3050, which means that you will need to withdraw $500 to A card and withdraw $550 to B card before taking out the remaining $2000. When the two amounts are taken out, the remaining amount can be taken to any of your bank accounts.

 What if I don't have a bank card with a net deposit? For example, the original card has been lost.

If you have already received a replacement bank card, please contact us. If you do not have a relevant bank card, depending on the security check, we may be able to choose other relevant payment methods for your account. However, please note that in some cases we may need additional documentation to confirm that this card is no longer active.

 Why can't I choose how to withdraw money?

We implement a closed loop compliance policy that forces funds to be retrieved from their source. Before you withdraw additional funds by any other payment method, you must withdraw the same amount of deposit in the original way. This policy also protects us and our customers against fraud and money laundering.

 When can I receive the money I have withdrawn?

If a remittance is required, we will send the funds through the bank on the day AUGS accepts the withdrawal request. The payee may take 24-48 hours to receive the remittance.

 What is the cost of withdrawal?

If you choose bank wire withdrawal, the bank will charge a fee ranging from $15 to $50, and the bank will deduct the withdrawal amount. If you choose RMB withdrawal, the exchange rate of RMB will be calculated according to the exchange rate of the payment gateway company.

 How many versions are there in the AUGS trading platform?

The trading platform currently offered by AUGS is the AUGS MT4 trading platform. The platform has a web version, a desktop version, and an Apple and Android mobile app.

 What operating system does AUGS's desktop trading platform support?

A 64-bit operating system with Windows 7 and above is recommended.

 Which browsers does AUGS's web-based trading platform support?

AUGS's web-based trading platform supports all major browsers. It is recommended to use Google Chrome, Firefox Firefox, QQ browser and other browsers that support HTML5.

 Which devices does AUGS' mobile app support?

AUGS' mobile app supports Apple's iOS system and Google's Android system. It can be downloaded from the official website app store or downloaded directly from the official website.