Frequently asked questions
About GWG (Cyprus) Ltd
Are you regulated?
Gwglobalfx.com is owned and operated by GWG (Cyprus) Ltd , a company authorised and regulated by the Cyprus Securities and Exchange Commission – CySEC (CIF Licence number 291/16) and a Member of the Investor Compensation Fund (ICF)
How can I communicate with GWG (Cyprus) Ltd?
You can call us at +357 22 008 100 or email us at [email protected] if you have questions. Alternatively, we are also available on Live Chat 24/5. One of our dedicated agents will be there to answer any questions you may have.
Where are your HQ offices?
Our company is located in this address: 18 Kyriakou Matsi Avenue, Victory Tower, Office 302, Nicosia 1082, Cyprus
With which Liquidity Providers are you working?
GWG (Cyprus) Ltd has partnered up with LMAX, one of the biggest Liquidity providers in the market
How do I open a personal trading account?
To register for a personal trading account, click on the 'Register' icon on the GWG (Cyprus) Ltd homepage and follow the steps required to complete the verification and registration process. You will automatically receive an email with your platform credentials to the email address you have provided. Login to your GwglobalFX account with your email address and selected password. From there, you can upload your documents (if you haven't yet), manage your account, download our platforms and fund your account. Please note that the jurisdictions available to you will depend on your country of residence. GWG (Cyprus) Ltd does not offer Contracts for Difference(CFDs) to residents of certain countries such as the United States of America and other sanctioned countries
Can I open a corporate account?
You can open a trading account on your company name through our verification and registration procedure. Please enter the personal details of the person who will be the authorised representative and then log into your GwglobalFX portal to upload official company documentation such as a certificate of incorporation, articles of association etc. Once we receive all necessary documents, our Back Office Department will review them and assist in the completion of the application.
Do you offer swap-free accounts?
GWG (Cyprus) Ltd does not offer swap free accounts
Do you report my profits or trading activity to any authority?
In accordance with the CRS and FATCA regulations, we are required to submit our clients' balances and equity at the end of the year to our local tax authorities, who then share this information with the local tax authorities of each of our client’s jurisdictions. In addition, the EMIR and MiFIR reporting requirements oblige us to report all client transactions by the close of the following business day to trade repositories or to CySEC
What documents do I need to upload?
Please be informed that all the documents that we can accept for a successful review and Approval of your account need to have the below criteria:
- All 4 corners need to be visible and not cropped
- All information should be clearly visible
As Proof of Identity (P.O.I)
The acceptable documents are: Passport and/or National ID.
- Both documents need to be valid and not expired.
- For the National ID we will need both Front and Back sides to be provided.
As Proof of Residence (POR)
The acceptable documents are:
- Recent Bank Statement not older than 6 months.
- Any official Government Document that proves the residential address of the client, with the stamp and signature of the relevant department.
- Utility Bill like phone bill (landline), water bill, electricity bill not older than 6 months.
- Mobile phone bill cannot be accepted as Proof of Residence.
- Driving License cannot be accepted as Proof of Identification.
How can I upload or send my documents to you?
You can upload your documents at the time of your registration. You can also upload documents via your GwglobalFX portal by clicking on 'My Account' and then 'Documents'. Alternatively, you can email us your documents, through your registered email address at [email protected]
What should I do if I fail the appropriateness test?
GwglobalFX as a regulated broker, we are required to assess the suitability of our clients in regards to their understanding of CFDs and knowledge of the risks involved. If it is deemed that you do not currently have the experience required, you can proceed with a demo account creation, and read through our Education Section (Library Tab) in order to familiarise yourself with the market and practice trading. Once you feel that you are ready and experienced enough to open a live account, and are fully aware of the risks involved, please contact us so we can reassess your suitability. If the information you provided to us on the registration form was inaccurate, please let us know so we can contact you to clarify any errors.
Why do you request information about my investment, knowledge and trading experience during registration?
The MiFID and CySEC regulations which we abide by are designed to protect retail clients from investing in complex products that involve high risk, if they do not have the appropriate knowledge and experience in trading such instruments. Therefore, in GwglobalFX we provide our clients with an appropriateness test to ensure they have the necessary understanding of the risks involved in trading complex products such as CFDs so that they are able to trade with us.
What is the minimum amount for a deposit?
The minimum amount for a deposit through Bank Card or Wire Transfer is 100 EUR/USD, however, depending on the type of account you will choose to invest with this amount might diferentiate. To see all the available account types and their requirements, please click HERE
What is the minimum amount for a withdrawal?
The minimum initial amount for a withdrawal through Bank Card is as small as 1 EUR/USD while for Wire Transfer is 50 EUR/USD
How do I withdraw funds from my personal trading account with GwglobalFX?
Log in to your personal trading account with GwglobalFX, select 'Withdrawal’ and then select 'New Request'. Kindly note that you must follow our withdrawal policy which instructs that clients must withdraw via the same method used to deposit, unless that method has been fully refunded or refund limits have expired. In this case, you may use bank wire method to withdraw profits.
How can I withdraw if the card I used to deposit has been cancelled or expired
After the cancellation of a card, banks are obliged to allow limited transaction types to take place, including refunds, usually for at least 6 months. You should therefore withdraw funds to the card you used to deposit, even if this card has been cancelled. You will receive these funds to your new card which is connected to the same bank account as your previous, cancelled card. If the bank account linked to the card is completely closed, you will need to send proof of account closure to our Support department at [email protected]
Which method should I use for withdrawal?
It is our policy that any withdrawal request should be dealt within 24 hours by the time we received it. Additionally, card deposits made within a 6 month period should be withdrawn to the card in question first, before refunding to any other method, even if other methods were used for funding. Kindly note that after refunding any cards, you will then be able to withdraw via bank wire.
Why has my Bank Card deposit been declined?
There are a number of reasons why your Credit/Debit card may have been declined. You may have gone over your daily transaction limit or exceeded the card’s available credit/debit amount. Alternatively, you may have entered an incorrect digit for the card number, expiry date or CVV code. For this reason, please verify that these are correct. Also make sure that your card is valid and has not expired. Finally, check with your issuer to make sure that your card has been authorized for online transactions and that there are no protections in place that are preventing us from charging it.
Safety of Funds
Is my investment secured with GWG (Cyprus) Ltd?
GWG (Cyprus) Ltd takes the safety of client funds very seriously. Client funds are held in segregated accounts in European banks. This ensures that the client’s funds cannot be used for any other purposes, including to pay creditors in the unlikely event of insolvency. As a regulated entity, we are obliged to comply with client money handling rules, and employ strict policies and procedures regarding the maintenance and operation of these accounts. Furthermore, as a a double layer of security, GWG (Cyprus) Ltd is a member of the Investor Compensation Fund for the Clients of Cyprus Investment Firms, which protects investors up to €20,000 per person.
What can I do if my account is hacked?
In case of any suspicious activities, we highly advise to immediately change the passwords of your registered email address, secured client area and the trading platform and keep the passwords different for all three. Also, please contact our support to notify us of the incident so we can apply appropriate measures.
Products & Trading
Which are your offered instruments?
In GwglobalFX, we offer CFDs on a wide range of instruments, including major, non-major and exotic currency pairs, metals, energies, and major global indices. You can trade all the instruments from a single account and diversify your GwglobalFX portfolio. You can find all our offered instruments HERE.
Where can I see your instrument specifications?
You can check all the detailed instrument specifications on our website. To do it please click HERE.
To check all our FX instruments please click HERE.
To check all our Metal instruments please click HERE.
To check all our Indices instruments please click HERE.
To check all our Commodities instruments please click HERE.
To check all our Crypto instruments please click HERE.
What is a CFD?
A CFD (contract for difference) is an agreement enabling traders to speculate on the value of a financial instrument without having to purchase it outright.
Why has my pending order not been executed?
If your pending order has not been executed, it may be because you did not have sufficient funds to open the position when the pending order was triggered. If this is the case, the deleted pending order will appear in your account history. Alternatively, your pending order may not have been executed because the specified price was not reached. Please note that for pending Sell Orders, the bid price must reach your specified level; for pending Buy Orders, the ask price must reach your specified level.
What is the difference between Market and Instant execution?
With Instant execution your order will be executed at the requested price or you will receive a requote. With Market execution your order will be executed at the available market price at the time, at VWAP (Volume Weighted Average Price)
How can I login to MT4 Webtrader?
To login to your MT4 account on Web Trader, follow the steps below: If you do not see a login box, click on File > ‘Login to Trade Account’ In the login box, enter your Login and Password In the Server field, select ‘GWGlobalFX-Live’ for a live account and ‘GWGlobalFX-Demo’ for a demo account Select the platform MT4, and click ‘OK’” You are now logged in to your trading account.
How do I place a new order in MT4?
There are many ways to place a new order in the MT4 terminal:
1. Click on the ‘New Order’ button on the toolbar
2. Select ‘New Order’ from the ‘Tools’ drop-down menu
3. Press F9
4. Right-click an instrument in the ‘Market Watch’ window and select ‘New Order’
5. Double-click an instrument in the ‘Market Watch’ window
6. Enable one-click trading
Proceeding with any of the above options will open up the ‘Order’ window. This will let you adjust the parameters of the position you are about to open. The ‘Symbol’ field allows you to change the instrument and the ‘Volume’ field allows you to set the size of the trade (lot). You may also set stop-loss and take-profit levels. You then click ‘Sell’ to open a short position at the current bid price or ‘Buy’ to open a long position at the current ask price.
How do I close an order in MT4?
To manually close an open order, you must first locate the order in the MT4 ‘Terminal’ window at the bottom of your MT4 screen. Right-click on the order you wish to close and select ‘Close Order’, or double-click on the order to bring up the ‘Order’ window and close it from there. Alternatively, you can close a position by clicking the ‘X’ symbol at the bottom right corner of your MT4 terminal. If you have one click trading enabled, these actions will result in the immediate closure of the trade, without displaying any confirmation window. If you have set valid stop-loss or take-profit levels, your order will be closed once the market price reaches either of the levels you have specified.
How do I place a pending order on MT4?
A pending order is an instruction to open a position when an instrument reaches a certain price pre-defined by you. You can place a pending order via the main ‘Order’ window. Simply change the ‘Type’ from ‘Instant Execution’ to ‘Pending Order’. A drop-down menu will then appear that will allow you to specify whether the pending order you are about to place is a Buy Limit, Sell Limit, Buy Stop or a Sell Stop Order. It will also allow you to set a limit price and expiry date and time. Bear in mind that Buy stops & Sell limits must be placed above the current market price while Sell stops and Buy limits must be placed below the current market price.
How do I modify or delete a pending order on MT4?
First, locate the order in the MT4 ‘Terminal’ window at the bottom of your MT4 screen. Open orders appear above your account details, while orders that haven’t yet been executed appear below them. Right-click on the order you wish to modify or delete and select ‘Modify or Delete Order’ or double-click on the order to bring up the ‘Order’ window. From the ‘Order’ window, you may change the price at which the order is triggered, re-set the expiry date of the order, set stop-loss and take-profit levels or delete the order.
What is a Trailing Stop and how can I set it on MT4?
A trailing stop (often referred to as a trailing stop-loss) is a special type of trade order where the stop-loss price is not set at a single, absolute dollar amount, but instead is set at a certain percentage or a certain dollar amount below the market price. Once your position reaches the specified number of points in profit, the trailing stop place a stop loss in your trade, at break even level. As your profit increases, the trailing stop will be moving your stop loss closer to the new market price. If the market price goes back and your profit reduces, the stop loss will not move back, and if the market retraces enough, you will be stopped out, and your profit will be realized. A trailing stop can be disabled by selecting ‘None’ in the ‘Trailing Stop’ menu when you right click on your open trade. You can also disable all trailing stops of all your open positions and pending orders by clicking ‘Delete All’ in the same menu. Note that a trailing stop works in the client terminal, and not in the server like stop loss or take profit. This is why it will not work if your terminal is closed. If you close your terminal after a trailing stop has set a stop loss in your trade, the stop loss will not move with the market any more, and if the market reaches it, your trade will be stopped out. Please follow the below mentioned steps in order to set trailing stop loss on your order. Right click on your open position Click on trailing stop Once your position reaches the specified number of points in profit, the trailing stop place a stop loss in your trade, at break even level Note that a trailing stop works in the client terminal, and not in the server like stop loss or take profit. This is why it will not work if your terminal is closed. If you close your terminal after a trailing stop has set a stop loss in your trade, the stop loss will not move with the market any more, and if the market reaches it, your trade will be stopped out.
How can I enable mobile phone alerts via my MT4 platform?
To enable Android or iOS alerts straight to your mobile device from within your MT4 platform please follow the steps below:
1. Open your MT4 mobile application
2. Go to Settings > Messages > MetaQuites ID and make a note of your ID
3. Open your MT4 desktop application
4. Go to Tools > Options > Notifications tab, and enter your ID from the mobile (found in the previous step) into the MetaQuoted ID box
5. Make sure ‘Enable Push Notifications’ is ticked
6. Click ‘OK’
7. Click on the ‘Alerts’ tab in the Terminal window in your MT4
8. Right click > Create, and tick the ‘Enable’ box
9. Under Action, choose ‘Notification’ and then configure the alert you would like to create and click ‘OK’
You will now receive a push notification on your mobile device when the alert parameters are met.
How can I add custom indicators or EAs to MT4?
Open MT4, go to File>Open Data Folder, then select MQL4>'Experts' or 'Indicators' and paste your MQL4/EX4 file in this folder. When you reopen the platform you should now see your custom EA/Indicator in the Navigator window. You can drag and drop it to the chart(s) of your choice.
How do I remove an EA that I have loaded on my MT4 platform?
To remove an EA from your MT4 platform, right-click on the chart, select ‘Expert Advisors’ and then ‘Remove’.
How do I create an MT4 trading statement?
You can create a trade history report and export it as a separate HTML or EXCEL file. Log in to your MT4 terminal and click on the ‘Account History’ in the ‘Terminal’ window at the bottom of your MT4 screen. Right-click anywhere inside the tab, select ‘Save as Report’, select specify a save location and click ‘Save’.
How do I change the MT4 password?
Once logged in the platform, please go to Tools>Options and under the 'Server' tab, select 'Change Password'. Then, enter the new password you wish to use and confirm. If you encounter issues please check the Journal tab on the MT4 Terminal window to see if there are any errors.
How do I partially close an order in MT4?
You can close an order partially by following the steps mentioned below:
1. Go to the ‘Trade’ tab in the ‘Terminal’
2. Double click on the trade you wish to modify. An order window will appear
3. In ‘volume’, type in the amount you wish to close or select from the drop down menu
4. Click the ‘Close #..’ button
Once done, you will receive a confirmation for the portion closed.
How can I see my commission charged on trades on my MT4 trading platform?
In the ‘Terminal’ window, click on the tab ‘Trade’.
If commission doesn’t appear as one of the columns in your open trades, right click on any trade and click on ‘Commissions’ to add the column to the display.
In the ‘Terminal’ window, click on the tab ‘Account History’.
If commission doesn’t appear as one of the columns in your trades, right click on any trade and click on ‘Commissions’ to add the column to the display.
Do you offer any trading tools?
Yes, we do offer various trading tools making trading analysis way easy for you. To know more about the trading tools offered by us, please click HERE.
Do you offer an Economic Calendar?
Yes, we do offer an economic calendar, you can access the same from HERE.
Do you offer an Earnings Calendar?
Yes, to view our Earnings Calendar, please click HERE.
Where can I see the Trading Hours?
To view the Trading Hours, please click HERE.
Which platform is used for the execution of my trades from ZuluTrade?
Traders are equipped with a fully-fledged Trading Station user interface. A Trading Station account on a read-only mode. This means that you cannot place any trades there. Only the trades from Traders you follow on Zulu Trade will be refleted on your GWGlobalFX trading account.
Does ZuluTrade offer any account balance protection?
ZuluTrade offers "ZuluGuard", a highly advanced account protection feature that monitors the performance of the users Traders 24/7, and steps in to protect their invested capital whenever needed.
Can I modify stops/limits after opening a position?
You cannot modify stops/limit after opening a position. You can only close all the positions of your portfolio or close all the positions per trader
Can I change an open position?
Existing positions cannot be amended. You can only close existing positions.
Can I follow more than one Traders?
Yes, you can select, as many Traders are you wish.
How can I get other traders to follow me?
Currently, this feature is not available but very soon you will be able to register with ZuluTrade to monetize your strategies.
Choose the Reliable partner in the financial markets
- Member of the ICF
- Segregated accounts in major banks
- GWG (Cyprus) Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC),License No. 291/16
- Negative balance protection