Trading Basics

What platform is right for me?

WWM offers several trading platforms to fit your needs. These trading platforms include web trading, mobile trading, and desktop trading for both iOS and Windows based operating systems. You can compare the features of our trading platforms at the forex trading platform comparison page.

The most popular trading platform is our award-winning AlphaTrader platform. AlphaTrader is available for both desktop and mobile. AlphaTrader provides an user-friendly experience, effortless customization, and cutting-edge features like the ability to trade directly from the charts.

What is margin?

Margin refers to the amount of capital needed to maintain an open position and is calculated based on the trade value converted into US Dollars (for US Dollar denominated accounts). The percentage margin required for any given trade will also be dependent on the leverage scale and corresponding margin percentage selected for the account. For example, a leverage of 50:1 will have a corresponding margin requirement of 2% of the value of the trade size (value in USD of nominal trade amount).

Trading on margin can both positively and negatively influence your trading experience as both profits and losses can be substantially increased.

How can I calculate margin requirements?

Margin can be thought of as a good faith deposit required to maintain open positions. This is not a fee or a transaction cost, it’s a portion of your account equity set aside and allocated as a margin deposit. Margin requirements (per 10K lot) at WWM are determined by taking a percentage of the notional trade size converted back into a USD value based on prevailing rates.

For example, a forex trading live account with a leverage level of 100:1 selected will require 1% margin on the US Dollar value of open positions. Therefore, a trade for 100,000 EUR/USD at $1.3450, which has a USD value of $134,500 will require a 1% margin or $1,345.00 in collateral that a trader would need to use in order to maintain that open position. Once a trade is closed, either due to a stop/limit or manual closure, or even a liquidation call (margin-call) due to insufficient margin, the margin amount that was used to maintain the trade will be made available (freed-up) and part of a trader’s usable margin again.

For your convenience, we have included a Trade Calculator within our AlphaTrader platform which will calculate margin requirements for you.

What leverage does WWM offer?

As a standard, WWM offers 400:1 leverage on its Forex trading accounts. The high degree of available leverage is a popular attraction for many traders to the Forex market, and most WWM traders use the default leverage (determined by the default margin settings of 400:1). But the amount of leverage utilized in your trading is up to you.

Where can I view my margin requirements?

Margin requirements is listed in the trade calculator found within the AlphaTrader platform.

Important Note: Leverage is a double-edged sword, and can dramatically amplify your profits. It can also just as dramatically amplify your losses. Trading foreign exchange with any level of leverage may not be suitable for all investors.

What is rollover?

Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll). Rollover can add a significant extra cost or profit to your trade.

What are your trading hours?

The trading desk opens on Sunday, 23:00 UTC and closes Friday, 21:30 UTC. UTC is Coordinated Universal Time. All Forex trading hours are 1 hour UTC earlier during daylight savings. All times are subject to change.

How do orders execute over the weekend?

If the requested price of a stop or stop entry order is reached at the open of the market on Sunday, the order will be filled at the next available price and may experience negative slippage depending on the change in prices from Friday until Sunday.

For additional information, please visit our New and Weekend Trading policy at this page.

What is an entry order?

WWM allows orders to be placed at a price above or below the current market rate, to either buy or sell. These orders are referred to as Entry orders. Entry orders are only executed if the market rate reaches the rate specified in the order.

An entry order acts like a conditional order to buy or sell at a price other than the current price.

There are two types of Entry Orders:

  1. Limit Entry Order: Is an order to buy below the current market rate, or an order to sell above the current market rate. Limit entry orders can only be filled at the requested price.
  2. Stop Entry Order: Is an order to buy above the current market rate, or an order to sell below the current market rate. Stop entry orders can only be filled at the requested price or worse.

For Example, You want to buy EUR/USD 50 pips or below the current price. You would place an entry order to buy at that level.

How do I place an entry order?

There are six parameters which must be set prior to submitting an entry order. Five parameters are the same that appear in the “Market Order” box, and the sixth is the entry rate also known as order price.

To place an Entry Order:

  1. Click the currency pair you wish to trade displayed within the, “Market Board”grid. The “Order Entry” box will appear.
  2. Within the “Order Entry” box, click the order “Type” dropdown and select“Entry”.
  3. Review or set the instrument, quantity, side (buy or sell), and stop or limit prices (optional).
  4. Set the “Entry Price” and click “Submit”.

After the entry order is submitted, it will appear in the “Orders” window of the trading platform. It will remain as a pending order until the order is either executed or cancelled. Once the trade is executed, the position will appear as open from the“Open Trades, Stops/Limits, and Pending Orders” window.

What is an market order?

WWM allows orders to be placed at the current market rate, to either buy or sell. These orders are referred to as Market orders. Market orders are executed immediately when placed. Market orders are priced using the current spot, or market price and immediately becomes an open position upon order execution.

How do I place an market order?

Placing an market order trade is quick and easy. There are five parameters set prior to submitting an market order. These parameters are automatically set during the order entry process and are the same parameters that appear in the “Market Order” entry box.

To place an Market Order:

  1. Click the currency pair you wish to buy/sell displayed within the “Market Board” grid. The “Market Order” box will appear.
  2. Within the “Market Order” box, click the order “Type” dropdown and select“Market”. By default, the order type is set to “Market”.
  3. Review or set the instrument, quantity, side (buy or sell), and stop or limit prices (optional).
  4. Agree to the “Order Price” and click “Submit”.

After the market order is submitted and executed successfully, an “Order Confirmation” window will appear. The trade will also appear within the “Open Trades” and “Orders” windows within the trading platform.

Why did my trade open/close automatically?

WWM offers traders the ability to place entry orders that initiate an open position at a price above or below the current market price. When the desired market price is reached, the order is executed which results in an open trade. These orders are stored on our secure servers and you do not need to be logged into the trading platform for these orders to activate.

If one or several trades close automatically, there could be several conditions that caused this. Please verify if a stop or limit was placed on the trade and executed. If this was not the case, and all trades have been closed, the account may have received a margin call.

What is slippage and why does it happen?

Because of the rapidly changing nature of the Forex market, execution prices can differ from requested prices. This is referred to as slippage. Slippage occurs when the prevailing market price gaps over a requested price. We strive to provide the best pricing, execution and transparency and will fill such orders at the next price available in the market.