Frequently Asked Questions

Answers to common issues faced by our users

Why is ForexHero not showing my account balance even though I have few thousands in my City Index account?

It is usually due to wrong account type. Please email us at [e-mail] for assistance.

Why is my bot not doing anything after few hours?

How soon a bot opens a new deal (either executing a buy or sell order if the strategy is long or short respectively) will depend on the Entry Conditions configured for the bot. It is common for a bot to take days and even weeks before the prescribed Entry Conditions are met, depending on market volatility.

One of the most important and deciding factor is the bot's Trading Frequency. The shorter the frequency (15m), the higher the chances for the bot to enter into a trade faster. Conversely, the longer the interval (1h to 1D), the longer the bot takes to enter a trade. There are certain pros and cons to trading between short and long intervals. One of the consideration is the user's risk appetite.

As a general rule of thumb, the shorter the interval (15m versus 1h), the faster the bot will execute the trade.

After I have liquidated a deal, does the bot auto restart?

Yes, if you have manually initiated a deal liquidation, the bot will auto-restart and start to wait for the Entry Conditions to be satisfied before entering a new Deal.

Can ForexHero support a new forex?

Yes, please drop us an email ([e-mail]) or use the contact form found in your ForexHero account. We will add the new instrument typically in a day or two.

Why does my bot auto-deactivate by itself?

The most common reason why a bot deactivates automatically is due to insufficient capital required to execute the trade. This usually happens if a user accidentally use the underlying assets for his own trading purpose. Another common reason is that the user increased the bot's allocation for Extra Order after the bot has executed Base Order.

Another common reason is due to an invalid API key (such as trading account getting suspended or banned or wrong trading permissions set). Occasionally, this can happen for unknown reasons.

If you are using DYNAMIC order, the bot will add previous profits to the next Deal. Hence, it may seem that you have actually allocated sufficient capital but, in fact, the bot's internally computed capital is higher. We recommend using STATIC order if you may be reallocating the profits made by the bots. It is also simpler and clearer.

I need help. Who can I contact?

ForexHero offers several ways for our users to contact us. Please take a look at the various channels below.

• Web Form

• Email ([e-mail])

• WhatsApp. The link is available in the app.

• Telegram (Please PM @novumgroup)

Our ForexHero team will strive to respond to your request for assistance within a day.

I am not able to activate my bot. It just does not go to the active state. Why?

One of the most common reason is that the capital is insufficient based on the allocated amount configured for the bot. For example, if you have allocated 1,000 USD to the bot but your actual balance on the brokerage account is 500 USD, then the bot will not start. You will need to either a) reduce the allocated balance or leverage or b) increase the balance on your brokerage account.

I have set 1% as the Take Profit level. Why does my bot not do this?

One of the most common reason is the quantity previously bought by the bot (for long strategy) is insufficient for the bot to sell at. This can happen when other bots "dip" into the same pool for their deal executions. Conversely, for a short strategy, the bot encounters insufficient amount of Quoted Currency to Take Profit (buy back the digital assets which were sold).

I have 100 USD available. I have set Allocated Fund to 98 USD and the Base Order to 100%. The bot made a new Deal but the total USD used for my Base Order is only 70 USD. Why?

The most common reason is because of the Dynamic setting. Most probably, the bot encountered a loss in the previous deal that resulted in a proceed of 70 USD. Hence, for the current deal, it will only use 70 USD for the trade.

I tried to update my bot but encountered this error message: "Some bot settings cannot be updated while the deal is running"?

This happens when the bot has an Open Deal running and you are trying to modify the Trade Parameters. You may only modify the Exit Condition and click the "Apply Changes to existing deal" to apply your latest changes for the bot if there is an Open Deal. If the bot has not opened any deal, you many configure any settings for the bot.

What is the minimum amount I can trade with ForexHero?

ForexHero is not a wallet nor an investment platform. It is A Software-as-a-Service. It trades, using our bots, using the assets available in your brokerage account. Hence, the minimum amount which you can trade depends on the minimum requirement as determined by the brokerage. Please consult your brokerage regarding the minimum quantity of assets/USD you can trade.