FREQUENTLY ASKED QUESTIONS
DO I NEED TO VERIFY MY ACCOUNT WITH MT4Quotes?
1) Personal ID Document
A copy of your Passport or your national ID card or Driver’s license. Expiry date should be not less than 3 months from date of submission to us.
2) Proof of your address
A utility bill in your name for the address used to open you trading account with us (gas, water, electricity, fixed phone,etc.) or bank statement in your name. Issue date should be not more than 3 months before date of submission to us.
Acceptable file formats: gif, jpg, png or pdf.
IS IT NECESSARY TO DOWNLOAD AND INSTALL SOFTWARE TO MY COMPUTER TO TRADE WITH YOU?
No. Although we do provide a desktop version of our MT4 trading platform which can be downloaded and installed on your PC, we also provide our clients with a web-based version of the platform. Trading on the web-based platform does not require any download or installation.
DO YOU OFFER MOBILE TRADING?
Yes. Our MT4 platform is available for the mobile devices.
IS THERE ANY COST ASSOCIATED WITH THE USE OF YOUR PLATFORMS?
No. Our platforms are provided free of charge to all our account holders.
WHAT IS A DEMO ACCOUNT?
A demo account is a fully featured account that mirrors the trading conditions on our live accounts with one significant difference. The funds in the demo account are virtual and there is no financial risk from trading a demo account. An MT4Quotes demo account is the perfect way to develop your trading strategies before moving on to funded trading.
WHAT IS THE MINIMUM REQUIREMENT TO OPEN AN ACCOUNT?
Our account opening requirements are extremely accessible and a Basic Account can be activated with an initial deposit of as low as $50.
HOW CAN I FUND MY ACCOUNT WITH YOU?
We offer our clients a variety of secure and convenient methods to fund their trading accounts with us. These include Credit Cards, Bank Transfer and eWallets such as Skrill, Neteller and WebMoney. All payments go through fully PCI compliant payment processors.
ARE THERE ANY FEES FOR DEPOSITS?
MT4Quotes does not charge any processing fees for deposits into your account. However, you bank or credit card company may apply fees to your deposits. Please check with your bank for more details on these.
DO YOU OFFER SWAP FREE ACCOUNTS?
Yes. For members of the Islamic faith, MT4Quotes offers a Swap Free Account. Please contact your account manager for more details.
WHAT IS LEVERAGE?
Leverage is a trading tool that gives traders increased buying power. Leverage at MT4Quotes can be as high as 1:500, allowing traders to open positions of upto 500 times their trading capital. Keep in mind, leverage magnifies gains and losses so apply with caution.
WHAT IS MARGIN?
Margin is the capital requirement necessary to open a trading position.
WHAT IS PIP?
A Pip is the smallest price change for any given currency pair.
WHAT IS A LOT?
A Lot is the standard unit size of a forex transaction. A Standard Lot is equivalent to 100,000 units of the base currency.
WHAT IS A CFD
A CFD (Contract For Difference) is an agreement between two parties, the “Buyer” and the “Seller” to exchange the difference in value between the opening and closing price of a contract.
DO YOU ALLOW SCALPING?
Yes, Scalping is allowed on the MT4Quotes platforms.
IS HEDGING ALLOWED?
Yes, you may hedge your trades with us but the margin requirement will be calculated on the higher value side of the hedge.
ARE MY FUNDS SECURE?
All client funds are kept in strictly segregated accounts and are never mixed with any MT4Quotes corporate funds. Your funds are safe and accessible at all times.