Trading
FAQs
Account
To ensure the safety and security of our customers, all account holders must undergo a verification process as part of our customer due diligence. This process involves verifying personal information, such as name, date of birth, residential address, phone number, and payment method, among others.
To change your password, follow these steps:
1. Click on the arrow in the top right corner of the screen.
2. Click on “Settings”.
3. Enter the required information.
4. Click on “Change password”.
To reset your password, simply select the “Forgot Password” option on the login page. We will then send you a password reset guide to the email address associated with your account.
There are two types of accounts available: live and demo. You can switch between account types at any time by selecting the desired one in the top right corner of the screen.
Trading
CFD stands for “Contract for Difference.” It is a form of trading that allows individuals to speculate on the price movements of various financial instruments, such as stocks, bonds, commodities, and currencies, without physically owning the underlying asset. CFD trading involves entering into a contract with a broker, where both parties agree to replicate market conditions and settle the difference between the opening and closing prices when the position is closed. This allows traders to profit from both rising and falling prices and offers a flexible and cost-effective way to trade in the financial markets.
To open a position, go to the “Trade” screen and choose the instrument you want to trade. Then click on Buy/Sell and a position screen will appear as a pop-up box. In this screen, you’ll be able to see the current rate (price) and choose the amount of shares, contracts, etc. you want to trade (size of trade). You can also view the position’s value, the required margin to open the trade, and set Stop Orders to manage your risk. Please keep in mind that the rates (prices) are constantly updating according to market movements until you confirm the trade by clicking on the Buy/Sell button on the position screen.
To close a position, go to the “Positions” tab and click on the “Close Position” button. This will bring up a pop-up box, where you will need to confirm or cancel your request to close the position. In this pop-up box, you also have the option to partially close your position. For instance, if you have a position on EURUSD of 2 lots, you can choose to close 1.5 lots and keep a smaller position.
Leverage allows you to increase your exposure to a financial instrument without having to commit the full amount of capital needed to own the underlying asset. This is achieved by putting down only a fraction of the total value of your position. The amount required to open and maintain a leveraged trade is referred to as the margin. Profits and losses are based on the total size of the position, leading to the potential for much larger returns or losses than the initial outlay.
CFD trading offers several advantages, including the ability to trade on margin and use leverage. This allows traders to invest in a range of assets, such as shares, indices, or commodities, without having to fully commit a large amount of capital. To open and hold a position, a trader must meet the initial and maintenance margin requirements, which vary depending on the financial instrument being traded. The margin requirements serve to ensure that the trader has sufficient funds to cover potential losses.
To be able to open a new position in trading, it’s necessary to have a sufficient balance in your trading account. This balance must meet the initial margin requirement, which is a minimum amount of funds required by the broker to open and maintain a trade. The initial margin requirement is specific for each financial instrument and is used to ensure that you have the necessary funds to support your trades and to manage potential losses.
To keep a position open, you must maintain a certain level of funds in your trading account, known as the maintenance margin level. If your account does not have enough funds to meet the maintenance margin requirement, some or all of your positions may be closed.
If the equity in your trading account falls below the maintenance margin level, the platform will initiate a margin call and close any or all of your open positions. It is important for you to continuously monitor your open positions and ensure that you have sufficient funds in your account, or make the decision to close any or all of your open positions as needed.
The Stop Order is a feature that allows traders to set a specific rate or price at which their position will be automatically closed. This is useful to minimize loss in case the price moves against the trader. Once the specified price level is reached or passed, the Stop Order will trigger and the position will be closed. Keep in mind that there is no guarantee that the position will close at the exact price level set, as slippage can occur due to volatile price movements. In these cases, the position will close at the next available price. The use of Stop Orders is free of charge.
The Take Profit Order allows you to lock in your profits by automatically closing your position once a certain price level is reached. This feature helps to secure your profit, but due to volatile market conditions, the actual closing price may not be exactly what you set, as slippage can occur. The Take Profit Order is a free feature and does not guarantee an exact closing price, but instead ensures that your position will be automatically closed at the next available price when the specified rate is reached or exceeded.
The availability of a trading instrument for opening or closing a trade is known as market hours. You can check the market hours for each instrument on the main screen of the trading platform by clicking on the “Instrument info” link.
The overnight fee, also known as a rollover fee, is a fee charged for holding a CFD position overnight. This fee is meant to cover costs associated with the position and reflects the supply and demand forces in the financial markets. The fee amount varies based on the value and direction (buy or sell) of the position and is automatically deducted from the customer’s available balance.
Negative balance protection ensures that you will never lose more funds than you have deposited into your account. If your available balance becomes negative due to overnight fees or trading losses, the platform will perform a margin call and close all your open trades. In case of negative equity, the platform will absorb the loss and reset your equity to zero.
“One Click Trading” mode allows traders to open and close trades quickly and without the need for confirmation. This is done using predetermined trade parameters such as trade size, leverage, stop loss, and take profit levels. To enable this feature, simply click on the “One-click trading” button on the main screen of the trading platform. It is suitable for experienced traders who require fast and efficient trade execution.
Cashier
To deposit funds to your trading account, follow these steps:
1. Click on “Deposit” button.
2. Select your preferred deposit method from the available options.
3. Fill in the fields.
4. Click the “Top up” button.
To withdraw funds from your trading account, follow these steps:
1. Click on the “Withdraw” button.
2. Choose your preferred withdrawal method.
3. Complete the required information in the fields provided.
4. Click the “Withdraw” button to initiate the withdrawal process.