Here you can find most frequent questions and answers regarding our products and services:
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Do I need to verify a new account?Yes, you need to verify your account to be able to make deposits.
To verify your account you need to provide TWO DOCUMENTS:
1) Personal ID – a copy of your Passport or your national ID card or Driver’s license (with your photo). Must not be expired.
2) Proof of your address – any bill with your name and address: utility bill (gas, water, electricity, fixed phone,etc.) or bank statement. Should be not older than 6 months (THE DATE SHOULD BE CLEARLY VISIBLE).
In addition to the above, Corporate clients must also upload the following:
3) Articles of incorporation & Register of directors for the company.
4) Signed copy of the Corporate Entity Agreement provided during the verification process.
Documents’ format requirements: 300 dpi resolution, each file – not more than 1Mb, file format – *.gif, *.jpg, *.png or *.pdf.
Documents should be in English or with CERTIFIED English translation.
Please upload these documents in your Private Office/Profile/Upload Files.
NOTE: Please provide documents strictly in line with the requirements mentioned above. In case of any inaccuracy your application will not be accepted.
The Compliance Department has a right to reject client’s verification request without any explanation!
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Is it necessary to download the software to my computer?There are two options available. You can download and install the MetaTrader 4 Trading Platform on your computer or you can use the MT4 Mobile Application on your mobile device. Note, however, that the desktop version has a more robust functionality, providing users with automated trading, expert advisers, and powerful analysis tools.
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What is the cost of using the MetaTrader 4, MetaTrader 5, cTrader platforms and the iPhone application?We provide all software free of charge to our clients.
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How to run MetaTrader 4 on Mac OS?MetaTrader 4 was designed for Windows OS. Please, read here How to run MT4 on Mac OS.
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What is a Demo account?The Demo account (demonstration account) is a trading account that works with virtual money. You cannot deposit or withdraw funds from the account. You will find $100,000 worth of virtual funds in your Demo account right after opening. Unlike the majority of other companies, we give you a chance to open a Demo account that is no different to the groups of our real accounts. You can test-drive any account type and make your final selection with confidence, taking into consideration the results of your work in demo mode.
The trading conditions of Demo accounts are almost identical to the trading conditions of real accounts with Advisers enabled. Trade, learn, work out a strategy, test your Advisers – we allow you to do all of that, absolutely free of charge! But keep in mind that there is a major factor missing while trading in a demonstration environment – the psychological pressure, the fear of losing money. Therefore, we recommend that after some practice, you should transition to the next phase by opening a real account with a small deposit.
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Is the use of trading Expert Advisors (EAs) allowed?Yes, we permit the use of EAs and automatic trading.
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What is the ECN/STP account? What are the advantages of such an account?The ECN (Electronic Communication Network) is an electronic transaction system of purchase and sale created to eliminate intermediaries from the trading process; it connects brokers and traders directly. The ECN system is similar to a stock exchange. However, unlike a stock exchange, the ECN allows traders to make transactions themselves, while at a stock exchange only brokers can make transactions on behalf of the traders. The advantages of such systems are:
STP (Straight Through Processing) is a way of handling or processing trading orders directly, without involving brokers, which increases the speed and quality of order execution. It is similar in nature to an NDD – No Dealing Desk. As a matter of fact, all these technologies are closely related to each other so they often use the same service names. Trading on such an account has a number of advantages:
We offer our clients a rare opportunity to take advantage of these trading practices directly by using the MetaTrader 4 platform.
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What is your commission?We do not charge any additional commissions for MT4.VAR accounts. For these types of accounts, all our commissions are already included in the spread. In many ways these accounts have similar conditions and the choice of account is a matter of personal preference. We recommend MT4.VAR. account because the spreads change according to the market. For ECN accounts the spreads are minimal, but commission will be charged separately. The breakdown of commission rates can be found in the Trading Conditions section.
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How is the ECN account commission calculated?Deals on the interbank market are usually charged with a commission per traded volume. Our ECN accounts provide you with a direct access to the interbank market. You get the tightest spreads and pay a small commission for service. If you want to calculate the commission you need to calculate your deal volume in US dollars, divide it by 100,000 and multiply by the commission fee.
For example: deal size – 1 standard lot EURUSD = 100,000 units, EURUSD rate – 1.05, commission fee – 1.5 USD.Commission = (100,000 EUR Open Size + 100,000 EUR Close Size) * 1.05 EURUSD / 100,000 * 1.5 USD = 3.15 USD
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Can a beginner trade with Trader’s Way?Yes, of course. For all accounts our minimum transaction volume is only 1000 units or 0.01 of a lot (1 lot = 100,000). Using a leverage ratio you can start trading with a few dollars, which is why we do not impose limits on the size of the initial deposit for non-ECN accounts. This allows beginners to try out their trading skills without the risk of losing too much money.
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What is the minimum deposit I need to start trading?The minimum deposit with which you can start trading is up to you. For ECN accounts the minimum deposit is only $10, check the Try Best MT4 ECN from $10 ONLY! promo details.
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In what currencies can I deposit?
In the future, we plan to widen the range of deposit currencies.
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What are correspondent bank fees?When an international wire transfer is send out, it may pass through one or more intermediary (correspondent) banks before reaching its destination.
If you wish to make a wire transfer deposit and have a specific amount arrive into your trading account, please check with your bank to see if you have the option of sending the wire using the “OUR” sending method. This method will allow you to pay all correspondent banking fees up front with your own bank.
Please check here additional information for clarification on how correspondent wire fees can be paid during the wire transfer process.
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Can I open a corporate account?Yes, you can. Please, register here in the name of your company.
Upload the following documents for verification:
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Note – Accounts with balances should be withdrawn prior to submitting your request. Accounts with negative balances cannot be closed and must first be settled by means of internal transfer or deposit prior to closure.
