F.A.Q.

Do I need to provide any form of identification to open a new account?
Yes, you will have to provide your Photo ID, which can be a passport, a driver's license or any other valid document. Scan your Photo ID and upload the image file into your Private Office or print the scanned image and fax a copy to + 44 (0) 20 7023 4801. Unless we receive a copy of your Photo ID, you will not be able to withdraw funds from your account or make deposits with credit cards.

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 Trader's Way Web Trader portal which does not require any installation. In both cases, trading remains the same. Note, however, that MetaTrader has a more robust functionality, providing users with automated trading, expert advisers, and powerful analysis tools. The Trader's Way Web Trader is a better option if you spend a lot of time on the road or simply need to do work from someone else's computer.

What is the cost of using the Web Trader platform and the iPhone application?
We provide all software free of charge to our clients.

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 (except the MICRO account). 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, for example the MT4.MICRO account.

Is the use of trading experts allowed?
Yes, we permit the use of advisers and automatic trading.

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:

• Around-the-clock (24/7) trading; traders can be located in different time zones;
• Traders are fully supplied with all the necessary trading information;
• High-speed performance of transactions due to the latest communication and data processing technologies;
• Empowers traders who in the past had no direct access to trading and could not compete with brokers. Today, orders placed through the ECN by individual traders can influence market dynamics.

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:

• Fast execution of orders;
• As a rule, high liquidity;
• High quality of quotations as a result of eliminating manual order handling and taking brokers out of the trading flow;
• The smallest spreads possible on the market today.

We offer our clients a rare opportunity to take advantage of these trading practices directly by using the MetaTrader 4 platform. In addition, for the first time in the trading industry, we will adjust our commission depending on your performance. The more you trade, the less commission you will pay.

Do you plan to move to the MetaTrader 5 platform?
At the present time we have no plans to start using MetaTrader 5 due to its principal difference with version 4: the new version does not allow traders to make Hedging Transactions. Many traders consider this an important function and have it hard-wired into their trading systems. And though we do not recommend using hedging transactions, our clients' needs are very important to us. We hope to have MetaTrader 5 available in test mode for Demo accounts shortly but the final decision regarding its usage will be made later on.

What is your commission?
We do not charge any additional commissions for MT4.MICRO, MT4.FIX, and 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 VAR accounts because the spreads change according to the market and they are lower that the spreads on FIX accounts. For MT4.ECN accounts the spreads are minimal, but commission will be charged separately. The breakdown of commission rates can be found on the Account Types page. We are constantly striving to improve our service and lower commissions.

Can a beginner trade with Trader's Way?
Yes, of course. We have ‘micro’ accounts with a very small minimum transaction size of only 100 base currency units or 0.1 lots (for 'micro' accounts, 1 lot = 1000) especially for beginners. For standard 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. Still, if you have a bigger deposit, we will not raise the minimum transaction level; so, for example, with a $1000 deposit you can make transactions without using a leverage ratio, which means transactions are risk-free.

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 $300.

In what currencies can I deposit?
- For accounts with fixed spreads, the deposit must be made in US Dollars.
- For accounts with floating spreads, there are two options: US Dollars or Euros. You can decide on your preferred currency when opening an account.
- ECN accounts use US Dollars only.
In the future, we plan to widen the range of deposit currencies.