Frequently asked questions
Depending on the account type you use, you have different options for leverage.
When you trade with leverage, you borrow money to access a larger market exposure than your account balance. Leverage is usually shown as a ratio, such as 1:30. This means that with $100 in your account, you can trade up to $3,000 worth of instruments in all your active trades.
Yes. We allow the use of EA. These automated strategies are from third-party providers, so we do not provide support for them. For any difficulties related to the settings or methodology of your chosen EA, please contact the source directly.
Yes, we allow full scalping and hedging.
We get our pricing from several high-quality liquidity providers who send prices to our platform.
We offer our clients the most popular trading platform to trade with, the MetaTrader 5 along with its mobile platform counterpart so you can trade on the go.
Yes, we want to give you the opportunity to explore the trading environment and check out our platform before you apply for a live account. You can open a demo account by clicking here https://my.wingomarkets.com/
We would love you to stay. However, if you want to close your live account with us, simply call or submit your request to us. Please check our ‘contact us’ page for details.
If you wish to make changes on your trading account, you may request this by emailing us. Please check our ‘contact us’ page for details.
There is a maximum of two (2) trading accounts per type accpunt.
The minimum account deposit is $100 (or account currency equivalent) for standard account. You can see the minimum of every Wingo Markets account type here https://wingomarkets.com/trading/account-types/
We offer four types of accounts, Standard, ECN, Raw, and VIP. All of them provide the same trading conditions, extras, and features. However, clients will get to enjoy tighter spreads on the Raw account and zero spread on the VIP account. Find out more about our Account Types here https://wingomarkets.com/trading/account-types/
Our demo account takes less than a minute to set up whilst our live account application requires a verified profile to complete.
No. We do not pay any interest on your funds.
It usually takes a few minutes for cryptocurrency payments, but it also depends on the network you use for the transfer.
Our trading platform lets you sign in to your account from different devices simultaneously. You can log in with the MT5 desktop terminal on your PC and use your mobile phone to sign in when you are away.
You can do this yourself by logging into the trading platform. Go to Tools > Options, select the Server tab, and click Change Password.
You might have entered the wrong login number or password. If you still can’t log in after trying again with your login details, please get in touch with us.
If you have lost or forgotten your Trading Account login password, please do a search in your email with the Account ID number. You will find our email with all the credentials to access the Account. You can also reset it in your client area.
To reset your MT5 chart data, you will need to go to Tools > History Center and select the pair and the time frame you want to reset. Next, select ALL of the data and click Delete twice (to select all – click the first record, hold SHIFT, and scroll all the way down to the bottom to select the last record while holding the SHIFT key).
You may not see all of the symbols that we offer in your Market Watchlist because they are hidden. To display them all, just right-click anywhere on the Market Watchlist window and choose Show All. Also, every type of account has different symbols available. You can check the details here https://wingomarkets.com/trading/account-types/
When Meta Quotes has a new version, our MT5 platforms update automatically. Windows restrictions may stop the live updates from running automatically. Users of Windows Vista, Windows 7, or higher will need to make sure MT5 is set to Run as an Administrator so that it can do the live updates automatically as needed. To run the platform as administrator, right-click on your desktop icon, and click Run as administrator. When you re-open MT5, you will be asked to complete a Live Update.
Margin is the amount of money required to open or maintain a position. This is not a fee or a transaction cost, it is simply a portion of your account equity set aside and allocated as a margin deposit. Margin requirements can vary depending on the market you are trading, where you hold your account and the size of your trade. If you do not have sufficient free equity available you will be unable to open a position on the trading platform. The free margin amount shown in the trading platform is the amount you have available to use should you wish to open additional positions. Margin is normally expressed as a percentage of a position size (e.g. 2% or 5%). Margin can be calculated using the following formula: Margin Requirement = (current market price x volume) / account leverage For example: EUR/USD is quoted at the current market price of 1.35645, your account has a leverage of 1:30 and you would like to trade one standard lot. Your margin calculation would be: (1.35645 x 100,000) / 30 = $4521.5 In this example, the margin on this position would be $4521.5, therefore in order to open a position of this size you would require at least $4521.5 in free equity in your trading account.
Without any free margin, you will not be able to open any new positions and/or your positions will be stopped out. Your account balance can drop to zero if the loss on the positions stopped out matches, or exceeds, your account balance.
The stop out level is when your positions are closed if your account equity falls below the regulatory margin requirement rules. For the Standard account, the stop out is 20%, and for the rest of the type accounts it is set to 40%.
You can trade as low as 0.01 lot (or 1,000 units of base currency) on all our currency pairs. Please note: – 0.01 lot = 1,000 units of the base currency – 0.1 lot = 10,000 units of the base currency – 1 lot = 100,000 units of the base currency
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