Frequently Asked Questions

The most commonly asked questions can be found here, feel free to contact our customer support team for further questions.


About First Index

Is First Index Regulated?
AGM Markets Pty Ltd trading as First Index Pty Ltd ACN 158 706 766. First Index is authorised and regulated by the Australian Securities & Investment Commission (ASIC) and holds an Australian Financial Services Licence (AFSL 422662).
What kind of services does First Index provide?
First Index deals in over-the-counter Forex contracts, Commodities, Indices, CFD Global equities and Cryptocurrencies. First Index offers you to manage your own client funds by utilising the Meta Trader (MT4) platform.
Where are your trading brokers located and can I visit your offices?
Yes, you are welcome to visit us. We are located at Caulfield, Melbourne, Victoria.
Please check contact us

Trading CFDs with First Index

Can I have my trading account in a different base currency?
First Index supports the following base currencies for your trading account: AUD, USD and EUR.
What is a spread?
The spread is the difference between the Bid (Sell) price and the Ask (Buy) price of the financial instrument.
What is Margin?
The margin is the required collateral amount to take on a position size of the instrument. If an instrument had a position of $100,000 with a 100:1 leverage the margin is $1000.
Can I trade with Expert Advisors (EAs)?
First Index allows all Expert Advisors for the MT4 platform.
What does it mean when you go long or short on a position?
If your buying, it means you are going long on a position. If you are shorting, it means you are selling.
How many instruments can you trade on First Index?
You can trade 354 instruments, ranging from equities, indexes, forex, commodities and cryptocurrencies.
What are the different types orders available?
Sell Limit – An order is placed above Market Price.
Buy Limit –An order is placed below market Price.
Buy Stop – An order is placed above Market Price.
Sell Stop – An order is placed below Market Price.
These are for a long position, vice-versa applies for a short position.
What is a rollover?
It's calculated on the difference between the expiring futures contract and the following futures contract.
What time does gold open on MT4?
Gold opens Monday to Thursday (GMT+3) 1:00-24:00 and Friday (GMT+3) 1:00-24:00. This is 8pm AEST to 7pm AEST.
What is the minimum trade size?
First Index allows a minimum trade size of 0.01 Lots.
What is an index?
First Index provides the main stock indexes traded globally. A stock index is made up of the largest amount of companies for any given exchange. For instance, traders can take a position on the ASX100, which makes up of the largest 100 Australian companies listed on the Australian stock exchange. On average if the prices of the top 100 Australian companies go up, the price of the index generally goes up as well. Some other indices offered:

*FTSE100 (index of the top 100 companies listed on the London Stock Exchange)
*Nikkei225 (index of the top 225 companies listed on the Tokyo Stock Exchange)
*Dow Jones Industrial Average (index of the largest 30 publicly owned companied in the United States)

The way some of these index prices are measured are calculated by using the capitalisation-weighted average or price weighted index. It's important to take note that the capitalisation weighted average takes into consideration the size and company's worth, hence the more a company is worth the greater it will affect the index price. Whereas, the price weighted average takes into consideration the actual share price of the company.

For example, a company valued at $5 is weighted five times more over a one that is valued at $1. Different indexes have different calculations of their weighing's.
Where do I find the swap rates?
Swap rates can be found on the First Index trading platform. To see the swap rates for a currency position:

  1. Log into MetaTrader 4 (MT4)
  2. Right click on any asset in the ‘Mark Watch’ window
  3. Click on ‘specifications’
  4. This shows the current swap rates for going ‘long’ or ‘short’ on the specified instrument
What time does my rollovers occur?
Rollovers for First Index occurs at midnight based off the MetaTrader 4 server time, GMT+3 hours.

Product Schedule

MT4 Troubleshooting

How do I change my MT4 password?
Log into your trading account at the MT4 platform, select ‘Tools’ in the menu, then click ‘Options’, select the ‘Server’ tab and then click ‘Change’ button next to the password box.
Do you have trading platforms for mobile devices?
The trading platform is available on both apple and android devices by searching 'MetaTrader 4' in the applications store and downloading it.
I’ve forgotten my MT4 password?
If you have forgotten your MT4 password, you can call customer support on our toll-free number 1300 19 19 25, International number +61 3 9068 8900 or emailing us at support@firstindex.com
How do I get the 'show ask' line on an MT4 chart?
You right click on the chart then click 'properties'. Click on the commons tab in the window, click 'show ask line'.
What platform is the MT4 platform compatible with?
It's compatible with Windows and Mac.
How do I have my chart settings on the MT4 platform and transfer it to another computer?
In your MT4 platform click file->profile->save as. Type the profile name and then click 'ok' to save. Then go to the 'First Index' folder in program files on your systems hard drive. Manually copy the First Index folder named 'profiles' to the new PC in program files.

Deposits and Withdrawals

What methods can I use to fund my account?
You can fund your account by: Debit and Credit Cards (Visa, Master) Poli Payment Bank Wire-Transfer, Skrill and Neteller.
What are the costs of funding and withdrawal on my account?
The associated costs of funding methods and withdrawals is listed in the PDS.
What is the minimum I can deposit?
First Index's minimum deposit requirement is $200 of your base currency for a Standard account.
How long does it take to receive funds in my First Index account?
First Index funded by bank transfer, can take 1-3 working days. If it's funded by Skrill or Neteller, it can take up to 10 minutes.
How long does it take for the withdrawal process to complete?
Processing times are subject to the bank processing times and we cannot guarantee same day for refunds. International Transfers may take between 2 - 5 days to be received.

Forex Trading

What times can I trade on First Index?
First Index's pricing on the MT4 platform operates between Monday 00:00 and Friday 24:00 on the MT4 time.
What is your average spread on your FX pairs?
All spreads are variable for First Index, to make sure First Index is offering the most competitive spreads in the market.
How far away am I allowed to place my stop loss and take profit orders?
Client can place any distance for the stop loss and take profit at their own discretion.
What are the major currency pairs?
The main major pairs are the highest traded currency pairs in the forex market being the most liquid currencies. These pairs and their combinations (GBP/JPY, EUR/JPY and EUR/GBP) make up almost all the pairs on offer within the forex market. These pairs also include the largest volume of buyers and sellers, they also typically have the smallest spreads.

Majors: EUR/USD, USD/JPY, GBP/USD, USD/CHF
What is an exotic pair?
There are other currency pairs that are uncommonly traded in low volumes such as the US Dollar/Mexican Peso which is classified as an Exotic pair.

Exotics: EUR/PLN, GBP/MXN, USD/MXN, EUR/HUF, GBP/CZK, GBP/DKK

First Index Account Questions

How long does a demo account last for?
First Index demo accounts are active for 30 days.
What type of trading can I do with First Index?
First Index allows clients to trade any style they like and allow any of the following various styles including expert advisors (EA), scalping and hedging using our MT4 Platform or Webtrader.
What is the maximum level of leverage may I choose for my account?
Leverage available for First Index trading accounts is available up to 500:1
What is the cost in opening an account with First Index?
There is no cost involved.
How do I change the leverage on my trading account?
Leverage can only be changed by calling on our direct line number 1300 19 19 25 / International number +61 3 9068 8900, emailing (support@firstindex.com) or speaking to our live chat services and providing your login number.
What time do the charts reflect on First Index?
All chart times are according to GMT+3 offset