What supporting documents do I need to provide if I want to be your client?
A color copy of valid passport or other official identification document issued by authorities (e.g. driver’s license, identity card, etc). The identification document must contain the client’s full name, an issue or expiry date, the client’s place and date of birth or tax identification number and the client’s signature.
A recent utility bill (e.g. electricity, gas, water, phone, oil, Internet and/or cable TV connection, bank account statement) dated within the last 6 months and confirming your registered address.
How can I open a trading account?
It is simple and quick. Click Open a Live Account, fill in the form and upon completion you will receive an email with your login details that you can use to log in to our secure Members Area. Here you will be able to fund your trading account by clicking the Deposits tab in the main menu. If you are already an BS Tradin Live Account holder you can open an additional account in the Members Area.
How long does it take to open a trading account?
In case you fill out all details correctly, it takes less than 5 minutes.
How can I start trading?
If you have already opened a trading account, received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice.
You can find detailed guidance to our trading platforms here.
What is the minimum deposit/withdrawal for a trading account?
It is $1for standard trading accounts.
How long can I use a demo account?
Demo accounts that have been inactive for longer than 30 days from the last login will be closed. However, you can open a new demo account at any time.
Can I change the base currency of my account?
It is not possible to change the base currency of your account, however you can open a new account at any time and then specify your preferred base currency.
Is it possible to lose more money than I deposited?
Yes, you have possiblity to lose more than the amount you deposited. Should the slippage of a certain currency pair cause a negative balance, it will be reset automatically with your next deposit.
What spreads do you offer?
We offer variable spreads that can be as low as 0.3 pip. We have no re-quoting: our clients are given directly the market price that our system receives.
Do you allow news trading?
Yes, we do.
What leverage do you offer?
We provide leverages between 1:1 – 1:1000. The leverage depends on equity,
What is margin / margin level / free margin?
Margin is the required amount in the base currency of the trading account needed to open or maintain a position. When trading forex, the Required/Used Margin for a specific position = Number of Lots * Contract size / Leverage. Here the result is originally calculated in the first currency of the traded pair, and then converted into the base currency of your trading account, which will be numerically displayed on your MT4, or any other trading platform.
The margin requirement for gold and silver is calculated like this: Lots * Contract Size * Market Price / Leverage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).
For CFDs, the required margin is Lots * Contract Size * Opening Price * Margin Percentage. The result will be in USD, which will be converted into the base currency of your trading account (in case it is other than USD).
Margin level is calculated with the formula Equity/Margin * 100%.
Free margin is your equity minus margin. It means the available funds that you use for opening new positions, or for maintaining existing positions.
How can I calculate the margin?
Margin calculation formula for forex instruments is the following:
(Lots * contract size / leverage) where the result is at always in the primary currency of the symbol.
For STANDARD accounts all forex instruments have a contract size of 100 000 units. For MICRO accounts all forex instruments have a contract size of 1 000 units.
For instance, if the base currency for your trading account is USD, your leverage is 1:500 and you are trading 1 lot EURUSD, the margin will be calculated like this:
(1 * 100 000/500) = 200 Euros
Euro is the primary currency of the symbol EURUSD, and because your account is USD, the system automatically converts the 200 EUROS to USD at the actual rate.
What is the margin formula for gold/silver?
The gold/silver margin formula is lots * contract size * market price/leverage.
Do you allow hedging?
Yes, we do. You are free to hedge your positions on your trading account. Hedging takes place when you open a LONG and a SHORT position on the same instrument simultaneously. When you open a BUY and a SELL position on the same instrument and in the same lot size, the margin is 0.
Do you have slippage?
Slippages hardly ever occur if you trade with us. Sometimes, however, especially when important economic news is released, due to a sharp rise/fall in the market price, your order may be filled at a different rate than you requested.
At Roger Templeton NY, your orders are filled at the best available market price, which may be to your benefit.
What is one-click trading? How can I enable it?
One-click trading allows you to open positions with just one click. When you want to close a position, however, one click does not work and you will need to close it manually.
To enable one-click trading on the left corner of your chart, you will find an arrow. By clicking that arrow you enable one-click trading and a window appears on the left corner of the chart.
Can I withdraw my money if I have an open position?
Yes, you can, if at the moment of payment your free margin exceeds the amount specified in the withdrawal instruction, including all payment charges. Free margin is calculated as equity less necessary margin (required to maintain an open position). If you do not have sufficient free margin in your trading account, the system will not accept your request and you will need to lower the amount. Please note, that any credit bonus in your account is considered as part of your equity and will be deducted as the result of any withdrawal.
How long does it take for funds to reach my bank account?
It depends on the country the money is sent to. Standard bank wire takes 3 – 5 working days.