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    What you can do with BidAsk App

    Learn to Play

    Trade Currency Pairs real time making your virtual Portfolio and Learn the basic tricks of Trading

    Play to Earn

    Create Public Games & Participate in Competitions

    Create to Earn

    Trade Currency Pairs real time making your virtual Portfolio and Learn the basic tricks of Trading

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    What you need to know to learn using BidAsk

    All calculations of Margin Wallets, Market to Market and Profit and loss are all taken in Dollar terms due to the nature of the Forex Markets, where every Currency Pair is traded with respect to US Dollar.

    • No Real Money involved in BidAsk application and No trading with money possible in the BidAsk application.

    Total Fictional money in the account.

    Fictional money needed to make any trade. By Default every trade will require 10% of the “ Notional value of Trade” . For Eg, If a Trade is initiated for USD 1000,000 ( 1 Million) then the margin needed to be available in the wallet is Minimum of 10% of USD 1000,000 = USD 100,000

    Only in case of 4 Currency pairs Viz EUR/USD, GBP/USD, AUD/USD and NZD/USD ( called Direct Pairs), the margin calculation will be as under:

    1. Buy/Sell 1 Million EUR (Euro) Margin required = EUR 1000,000 * EURUSD Rate * 10% = 1000,000* 1.0850*10% = USD 108,500
    2. Buy/Sell 1 Million GBP ( Pound Sterling) Margin required = GBP 1000,000 * GBPUSD Rate * 10% = 1000,000* 1.2850*10% = USD 128,500
    3. Buy/Sell 1 Million AUD ( Australian Dollar) Margin required = AUD 1000,000 * AUDUSD Rate * 10% = 1000,000* 0.7240*10% = USD 72,400
    4. Buy/Sell 1 Million NZD ( New-Zealand Dollar) Margin required = NZD 1000,000 * NZDUSD Rate * 10% = 1000,000* 0.6650*10% = USD 66,500

    For all the Other currency pairs ( Indirect Pairs) , margin calculation is as below:

    • Buy/Sell 1Million USD/INR ( Indian Rupee )
      Margin required = USD 1000,000 * 10% = USD 100,000
    • Buy/Sell 1 Million USD/JPY ( Japanese yen )
      Margin required = USD 1000,000 * 10% = USD 100,000

    This is the value of the trade undertaken at current market levels. For eg:

    If the trade was: Bought USD/INR 1 Million at 76 and say the current level is 77, then the Marked to market value of the trade is

    (Sell-Buy)* USD 1000,000 = (77-76) * 1000,000= INR 1000,000

    But , in the app all the calculations are with respect to Dollar so the MTM in Dollar terms is

    1000,000/ 77 = USD 12,987

    In case of In-Direct Pairs, the calculation of differential in rates yields the results in the other currency in the pair and to get the result in Dollars, it requires to be divided by the currency exchange rate of the pair.

    Or

    If Original trade was Sold EURUSD 1 Million at 1. 09 and say current level is 1.11 then the Marked to Market of the trade is

    (Sell-Buy)* EUR 1000,000 = (1.1100 – 1.0900 ) * EUR 1000,000= USD 20,000

    In case of Direct Pairs, the calculation of differential in rates yields the results in Dollars Only

    This is the PnL of the trade booked when the initial trade is Unwound or exited or squared at current market levels. For eg:

    If the trade was: Bought USD/INR 1 Million at 76 and say the exited/Unwound/Cancelled price level is 77, then the P&L of the trade is

    (Sell-Buy)* USD 1000,000 = (77-76) * 1000,000= INR 1000,000

    But , in the app all the calculations are with respect to Dollar so the MTM in Dollar terms is

    1000,000/ 77 = USD 12,987

    In case of InDirect Pairs, the calculation of differential in rates yields the results in the other currency in the pair and to get the result in Dollars, it requires to be divided by the currency exchange rate of the pair.

    Or

    If Original trade was Sold EURUSD 1 Million at 1. 09 and say Exited/Unwound/Cancelled level is 1.11 then the P&L of the trade is

    (Sell-Buy)* EUR 1000,000 = (1.1100 – 1.0900 ) * EUR 1000,000= USD 20,000

    In case of Direct Pairs, the calculation of differential in rates yields the results in Dollars Only

    Used Margin = Trade Margin on all the outstanding trades, which is 10% of the Trade Volume + any Negative Marked to Market + Any loss booked on the trade.

    Eg: Deal done for USD/INR 1 Million

    • Trade Margin = 10% of USD 1 Million = USD 100,000
    • Current MTM = negative 10,000 USD
    • Pn: booked on some other trades = Loss of 5000 USD
    • Used Margin = USD 100,000 + USD 10,000+ USD 5,000 = USD 115,000

    But If

    Eg: Deal done for USD/INR 1 Million

    • Trade Margin = 10% of USD 1 Million = USD 100,000
    • Current MTM = Positive 10,000 USD
    • Pn: booked on some other trades = Profit of 5000 USD
    • Used Margin = USD 100,000 – USD 10,000 – USD 5,000 = USD 85,000

    Total Margin Wallet – Used Margin

    Suppose the initial wallet was USD 1000,000

    • Trade 1: Used Margin is 100,000
    • Trade 2: Used Margin is USD 85,000
    • Trade 3 : Used Margin is USD 50,000

    Available Margin = USD 1000,000 – USD 100,000 – USD 85,000 – USD 50,000 = USD 765,000

    Once any trade is Unwound, the corresponding trade margin is released and added back to the Wallet.

    For Eg, If a Trade is initiated for USD 1000,000 ( 1 Million) then the Trade margin is 10% of USD 1000,000 = USD 100,000

    Once this trade is exited/cancelled/unwound then this USD 100,000 is added back to the Margin Wallet.

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    FAQ

    A.
    Yes. You must complete registration and create an account to join and play. It takes less than a minute and set your profile.
    A.
    Yes, you can play for free and learn the tricks of trading.. If you are a beginner, we recommend you to create your personal Competitions and play in teams with your friends, in small groups, practice to test and learn trading skills.
    A.
    Since BidAsk is a Skill based game, there are various tools that are provided to master the skill of trading as Charting, Live News, Market commentary etc. Depending upon the tool you choose, there is a some small cost associated with it and this falls under the “ Forex Academy” section of the App
    A.
    No, the game is played in a virtual environment with Fictional money. There is no real money involved.
    A.
    Use the section of  “Lend & Play” which has the collection of news & research tools to help you decide.

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