Find the answers to the most frequently asked questions.
The foreign exchange market (also referred to as the forex or currency market) operates as a global decentralized market. It principally trades currencies, yet other assets too and the Forex market makes a daily turnover of approximately $5 trillion.
A Forex Trading platform offers the opportunity for traders to access the Forex Exchange market and trade on multiple assets.
An asset is a financial instrument or an economic resource that can be traded on and converted into cash. To trade, investors need to choose an asset from currency-pairs as well as stocks, Commodities, and Indices. Log in to your account to view a full list of all the assets available to trade.
A Buy option is depicted by an upward arrow and indicates that market price of an asset will move higher.
A Sell option is depicted by a downward arrow and indicates that market price of an asset will move lower.
The Strike Price is the market price of an underlying asset when you enter a position.
A bearish market is a condition whereby market prices of assets fall, encouraging selling. Share prices drop resulting in a downward trend that investors believe in continuing in the long run.
A bullish market is a condition whereby prices rise, encouraging buying. Bull markets are characterised by optimism, investor confidence and expectations that strong results should continue.
The current price or market value of an asset is the actual selling price of the economic resource trading on an exchange. In general, the market price of an asset converges to a point where the forces of supply and demand meet. Shocks to either the supply and/or demand side can cause the market price to be re-evaluated.
The Bid price is shown by default on the charts. Normally a buy position is opened with the ask price and closed with the bid price. The difference in price is due to the spread as you have to add the spread to the bid price to find the ask price.
Re-quotes can occur under 2 circumstances. Due to high volatility on the market or a bad internet connection. High fluctuations result in fluctuating prices. In such events, you can either accept or reject the re-quote by canceling the execution of your transaction. A slow or bad internet connection can lead to old prices being displayed instead of the new rates.
Take profit set on a long position is placed above the prevailing market price. Therefore if a take profit is placed after a position is opened when you are already making a loss, the take profit will act as a stop loss and your position will be closed with a loss.
Equity takes into consideration the real-time calculation of profit/loss and includes both open and closed positions while the balance is the profit/loss for your closed positions.
If a position has not been closed by the last trading date, it will automatically close at their last quoted price.
Sell options are closed with the buy price. The price shown on the chart is the sell price which is lower than the buy price. To get the buy price, the spread has to be added to the price.
You simply need to go to the homepage of Trader.Online, click on “Open Account,” fill in your personal information and lastly submit the required identification documents for verification.
Our compliance department will ensure that the documents which have been submitted are in line with the Anti Money Laundering (AML) act. Trader.Online rigorously adheres to the AML Regulations.
A verification link will be instantly sent to your email address. Once you have verified your email address through the verification link, you can start trading with your account.
If you are unable to trade using our platform, it could be due to one of these several circumstances:
- Availability of assets – Assets are country-specific and are only traded on the financial markets during the daytime business hours of the country of origin. Outside trading hours, the asset will be marked “Unavailable.”
- Insufficient funds – To be able to trade, your account needs to have sufficient amount of funds, and it requires to comply with our KYC and AML procedures.
Registration with Trader.Online is completely free. However, to activate your account for trading, you need to fund it with the minimum amount of 250 USD/EUR/GBP or the equivalent in your local currency.
At Trader.Online, deposits made via both bank transfer and debit/credit card are accepted. Bank transfers take around 4-5 working days to clear. Please note that i-Payments only allow a maximum deposit of USD/EUR/GBP 5,000.
At registration, traders can choose the currency they wish to use for transactions. Once chosen, the selected currency cannot be changed at a later date. We offer to choose from EUR, USD and GBP but we also accept local equivalents of other currencies for the convenience of our traders. Your local currency is then converted into the base currency of your account using the prevailing rate at the given time.
The minimum amount required to trade is $10.
100 USD, EUR or GBP or the equivalent in your local currency is the minimum withdrawable amount at Trader.Online.
There is no restriction on the maximum amount of money that you can withdraw from your Trader.Online account. You are free to manage your funds as you wish. However, note that there is a fee that Trader.Online charges when processing withdrawal requests. The fee will vary depending on the instructions you provided for the transfer of funds. Bank wire transfers are subject to a withdrawal fee of 50 USD/GBP/EUR. Debit/Credit card transfers are subject to a withdrawal fee of 25 USD/GBP/EUR. Credit card transfers are also subject to a processing fee of 10 USD, 5 GBP or 7 EUR.
A withdrawal request can be cancelled any time before the request has been processed.
A SWIFT code (or SWIFT BIC, as it is sometimes known) is a code that helps overseas banks identify which bank to send money to.
The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross-border transactions with a reduced risk of transcription errors.
Trading online does entail risks. However, it also depends on the broker one is investing with. At Trader.Online, we provide our clients with a secure and transparent platform for trading. We invest a lot in advanced encryption and firewall technologies to protect your data or private information. This is demonstrated by the closed lock (or complete key) that appears in the address bar each time you execute an action or transaction on Trader.Online. Double-clicking this symbol reveals that communications on the website are encrypted and secure.
All funds deposited by traders in their account are held separately in segregated accounts, which are used for trading purposes only. This means that the funds are safeguarded from any crisis.
Trader.Online is a web-based platform for Forex trading and requires no download or any installation. Traders have 24-hour access to the platform from anywhere in the world that has internet access.
For the time being the website is available only in English. New languages will be implemented soon and you will be able to choose any preferred language available on our website.
A minimum of 24 hours is required to validate your compliance documents.
Only traders with Islamic faith are eligible for swap-free accounts. If you are eligible, contact your Customer Onboarding Representative or send an email to [email protected]. Make sure you don’t have any positions opened on the trading platform.
The main difference is in execution. Real accounts have instant execution that involves the use of re-quotes, while STP/ECN accounts have market execution where no re-quotes are involved.
Trader.Online does offer negative balance protection to all its clients as long as it is not manipulated. The protection of our clients’ interest is key and we ensure that clients never lose more than their initial total deposits.
CFDs trading & Commissions rates.
All CFDs trading are subject to a commission when a trade is executed The minimum commission charged is $5. The calculation of these commissions is done as follows:
Invested Amount x Leverage x Commission Percentage
For example Trader A trades $700 with a leverage of 50 and a commission of 0.1%
Commission: 700 x 50 x 0.001 = $35
|Commissions rates for the our Forex trading platform are charged as follows:|
|Commissions rates for the our Simplex trading platform are charged as follows:|