FAQ
Frequently Asked Questions
General
Trading
- What is forex?
- The worldwide market for currencies known as foreign exchange, or forex, is where the values of various currencies are compared to one another in the form of currency pairings like EUR/USD, AUD/JPY, etc. The exchange rates of each currency are set by the FX market.
- What are commodities?
- A commodity is either grown or produced naturally in the environment, such as agricultural products, livestock, crude oil, and precious metals like gold and silver.
- What are stock indices?
- Stock indices measure the value of a group of companies in the stock market. This allows investors to see how a particular set of assets is performing.
- What are contracts for difference (CFDs)?
- CFDs let you predict the price movement of underlying assets without actually owning them. With CFDs, you open a position based on your prediction, and you'll earn a profit if you close your position when the price moves in your favour.
- What are futures?
- Futures allow you to predict the price movement of underlying assets without actually owning them. With futures, you open a position based on your prediction, with a set duration that closes your position automatically. You'll earn a profit if your position is closed when the price is in your favour.
- How can I automate my trading strategy?
- You can automate your trading strategy using a trading bot. A trading bot is an automated computer program that purchases trade contracts for you while following a specific set of instructions that you provide.
- What assets are available for trading on weekends?
- Synthetic indices and cryptocurrencies are available for trading 24/7.
Account
- How can I change my personal details?
- You can do so on the Personal details page. If you’re unable to update your details, please contact us via email. We may need you to send us some documents for verification.
- Can I change my email address?
- Yes. Contact us via email and we'll help you with it.
- Why can't I create an account?
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Here are some possible reasons you aren't able to create an account:
- You’re below 18 years old.
- You may already have an account.
- Our services aren't available in your country of residence.
- How can I close my account?
- Contact us via email and we'll help you with it.
- When do I need to verify my account?
- We’ll prompt you to verify your account when it’s needed.
- How do I verify my account?
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When we prompt you to verify your account, follow these steps:
- Log in to your account.
- Go to Account > KYC
- Follow the instructions on the screen to verify your account.
- What documents do I need to verify my account?
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You’ll need the following documents to verify your account:
- Proof of identity You’ll need a valid government-issued identity document such as a national ID card, passport, or driver's licence. Your document must clearly show your name, photo, and date of birth.
- Proof of address You’ll need a bank statement, credit card statement, tax statement, or utility bill. Your document must be issued within the last 6 months. It must contain your name, address, the name of the company that issued the document, and the issue date.
- Why do I need to verify my account?
- Our regulators require us to verify your account in accordance with anti-money laundering (AML) and Know Your Customer (KYC) laws. If we have prompted you to upload your documents to verify your account, it means that you'll only be able to continue using our services after your account is verified.
- How long does verification take?
- We try to review your verification documents within the same day. In some cases, due to high traffic, it may take up to 3 business days. You can check the status of your documents once you login to your account.
- Why were my documents declined?
- We may have declined your documents because they were unclear, invalid, expired, had cropped edges, or showed details that did not match your VGM profile. If you need help, please contact us via email.
Platforms
MT5
- What is MetaTrader 5 (MT5)?
- MT5 is a CFD trading platform that gives you access to forex, stocks, stock indices, commodities, cryptocurrencies, and derived indices.
- What are the main differences between your futures and CFD platforms?
- We offer futures trading on a range of underlying assets such as forex, stock indices, commodities, and derived indices. The platform allow you to set the contract duration before opening positions, and you'll know exactly how much you'll earn if you win. You may find our platform more intuitive if you're new to the trading world. We also offer CFD trading on a similar range of assets, where you're able to open positions with leverage and your potential profit is only known when you close your positions. It's riskier than futures trading because while you may potentially gain a lot if you win, you may also lose a lot if you don't. MT5 are popular among our traders who enjoy the risks as part of the excitement of CFD trading.
- What are the differences between the MT5 Derived and Financial accounts?
- Contracts for difference (CFDs) on derived indices are available through the MT5 Derived account. These indices comprise both our own custom synthetic indices and indices generated from price changes on actual financial markets. Although the others are open for trading 24/7 on weekdays, some derived indices may be traded 24/7, even on weekends and holidays. The MT5 Financial account provides CFDs with high leverage and flexible spreads for maximum flexibility on currencies, commodities, cryptocurrencies, stocks, and stock indices. More than 100 assets are available on this account, and cryptocurrency trading is possible around-the-clock.
- How can I withdraw funds from my MT5 real money account?
- You'll need to transfer the funds from your MT5 account to your account. You can do this on the wallet page. Your funds will be available in your account as soon as you complete the transfer.
- Why are my MT5 login details different from my login details?
- This difference is because MT5 is a third-party platform that requires its own login credentials. Your MT5 login gives you access to the MT5 platform, while your login gives you access to our trading platform.
- How can I deposit funds into my MT5 real money account?
- You'll need to transfer funds from your account to your MT5 account. You can do this on the wallet page. Your funds will be available in your MT5 account as soon as you complete the transfer.
- How do I log in to my MT5 account?
- You can log in to your MT5 account via the MT5 desktop app, web terminal, or mobile app. You'll need the login ID and server name from your MT5 dashboard. Please remember to use your MT5 password to log in to MT5.
Leverage
- What are Leverage?
- Leverage (also known as multiplier ) is a trade type that gives you an opportunity to amplify your profit without risking more than your stake.