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Appropriateness Testing (FX)

Appropriateness Tests

Forex (FX)

Hugo Investing Appropriateness Test (FX)

We are required in terms of Spanish and EU regulations to assess your appropriateness to trade these products based on your knowledge and experience.

Personal Details

First Name(s)(Required)

Last Name(s)(Required)

Email Address(Required)

Are you an existing client (select an option)?(Required)

Client ID number (if you are an existing client)(Required)

Either your Saxo or Interactive Brokers ID. If you do not fill in your ID correctly we will not capture your test results.

General Questions

Level of Education(Required)

Secondary School

College

Undergraduate Degree

Postgraduate Degree

Other professional qualifications/certificates relevant to the understanding of complex investment products

Have you worked for more than three years in a position requiring knowledge of complex financial investments?(Required)

Yes

No

How would you describe your knowledge of investing in FX?(Required)

No knowledge

Some knowledge

Extensive knowledge

How would you describe your knowledge of trading FX options?(Required)

No knowledge

Some knowledge

Extensive knowledge

How many FX trades have you done in the past 2 years (across all your trading accounts)?(Required)

Less than 5

Between 5 and 50

More than 50

How many FX option trades have you done in the past 2 years (across all your trading accounts)?(Required)

Less than 5 trades

Between 5 and 50 trades

More than 50 trades

What is your average FX trade value (in EUR, and across all your trading accounts)?(Required)

Less than €1000

Between €1000 and €5000

More than €5000

What is your average FX option trade size in EUR (across all your trading accounts)?(Required)

Less than €1000

Between €1000 and €5000

More than €5000

Test Questions

The difference between the bid price and the offer price is called the?(Required)

Basis

Spread

Exchange rate

Margin

If you buy EURUSD are you:(Required)

Buying Dollars and selling Euros

Buying Euros and selling Dollars

Buying Dollars and buying Euros

If you buy 100,000 EURUSD at 1.2000 and sell to close at 1.2010, approximately how much P/L would you get?(Required)

A profit of 1,000 USD

A profit of 100 USD

A profit of 100 EUR

A loss of 100 USD

A loss of 1,000 USD

When trading FX, losses are limited to:(Required)

your full account value – limited only by investor protection

your initial investment

the maintenance margin

What is an FX option?(Required)

An agreement that gives the buyer the right but not the obligation to buy or sell the FX cross at an agreed price on a fixed date

An agreement that gives the buyer the obligation to buy or sell the FX cross at an agreed price on a fixed date

An agreement that gives the buyer the right but not the obligation to buy or sell the FX cross at an agreed price at any time after a fixed date

An agreement that gives the buyer the obligation to buy or sell the FX cross at an agreed price at any time after a fixed date

What is a long FX put option?(Required)

The right to buy the FX cross at the agreed price (the strike price) on the expiry date

The right to sell the FX cross at the strike price on the expiry date

The obligation to buy the FX cross at the strike price on the expiry date

The obligation to sell the FX cross at the strike price on the expiry date

When buying a call option, losses are:(Required)

limited to the premium paid

limited only by your account value

unlimited and can exceed your account value

If you buy a call option and at expiry the spot price is trading under the options strike price:(Required)

the option is exercised at the spot price

the option is exercised at the strike price

the option expires worthless and is not exercised

Submission

Once you have completed the required fields above please click the button below and you will be redirected back to the previous page where you can take additional tests if you choose or you can click continue to move on with the account opening process. We will email you your test results after your account has been opened or upon request in the future.

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