Trader Center FAQ

Q. What is Forex?

A: Forex and ‘FX’ are shortened terms used for ‘foreign exchange’. Foreign exchange or ‘currency trading’ is the exchange of money from different countries. The value of one country’s currency is constantly changing against the value of another country’s currency. Forex traders make money through buying and selling currencies on the foreign exchange market.

Q. Is it possible to place orders to reap the profits and stop loss?

A: Yes, that requests for profit-taking and stop loss available to customers without any fees or commissions.

Q. Do spread fixed or variable?

A: Fixed.

Q. Are there any fees to withdraw the amount from your account?

A: There are only fees charged by your bank.

Q. Do you allow the Hedge in your trading platform?

A: Yes, we allow the hedging.

Q. How much money do I need to open an account?

A: We accept an initial margin of $3,000 or equivalent. Please contact our Sales team for further details.

Q. What is margin?

A: Margin is a cash deposit provided by clients as collateral to cover losses (if any) that may result from the clients trades. The Margin required from clients start from 1% for trading. For example, with $1,000 margin you can open a position of $ 100,000 margined at 1%, against another currency.

Q. How safe are my funds?

A: As per regulatory requirements of Central Bank of the Iraq, OFB's licensing and regulatory body, client funds are received in the name and account of most reputed companies who in turn are regulated to conduct investment business in major jurisdiction(s). These companies deal with client funds as per the laws and regulatory requirements of these major jurisdictions.

Q. Do I need to have any previous trading experience?

A: It is highly desirable that you have some trading experience. However, if you are unsure about your trading experience, please contact our Sales team..

Q. Can I Deal on the phone as well as internet?

A: Trader center clients can deal on the telephone if they wish. You can open a position on the Internet and close it on the telephone, or vice versa. You can call us any time on the telephone.

Q. How long does it take to execute a deal via the internet?

A: Clients can expect the deals to be executed within seconds. Dealing on the Internet is generally quicker than dealing on the telephone.

Q. How can I withdraw money from my account?

A: Download our fund withdrawal form from the below link. You may then complete and either fax or email this to us. We endeavor to process all withdrawal requests within one business day.

Q. What hours is trader center open?

A: Trader center dealing room is open 24 hours from 1 Am on Monday to 12.00pm on Friday (Iraq time).

Q. Where are you registered and/or licensed?

A: Trader center Ltd is a company registered in Iraq under company number ( ).

Q. Do you offer swap free/shariah compliant accounts.

A: Yes, we offer swap free/shariah compliant accounts.

Q. How long have you been in the FX/CFD BUSINESS?

A: The executive managers of Trader center have been in the Market Maker business since 2000. During this time, they have between them, dealt with thousands of clients from all over the world.

Q. I do not know much about FX or CFD trading, but I am interested in opening an account, what you suggest I do.

A: Before you open and fund a live account, we strongly advise you to read through all of the material available on our website and to set up a free demo account. Once you feel that you are ready to open a real account all you have to do is let us know and we will be happy to help. We welcome all questions and are here to try and help make your trading both profitable.

Q. How to open a real account?

A: Follow the below link and complete our online account application form. If at any point you require support please do not hesitate to contact us.

Q. Do you offer support in Arabic?

A: Yes, we offer full trade support in Arabic. If you would like to email, chat, or speak with a representative in Arabic you can do so via the below link now.

Q. How can I deposit money in my account?

A: You may fund your online trading account via wire transfer or alternatively through other ways. To find out more follow the below link:

Q. How can I open a demo account?

A: Follow the below link and submit the required information. You will then be able to download our award winning trading platform. If you incur any problems during the download or once you start trading; be sure to contact us.

Q. What is the difference between Demo and Real Trading?

A: Demo trading is developed to enable our customers to get acquainted to Trader center trading system. Demo Trading enables the customer to make non-costing mistakes.

Q. How can I follow the latest breaking news?

A: We release an array of economic data and market news through facebook, twitter and a number of other online communities; in additional to our real time economic calendar which can be found in this website.

Q. Can I lose more money than I deposit?

A: Not with Trader center. We guarantee you can never pay a debit balance as a result of trading. One of the greatest concerns traders have about leverage* is that a sizable loss could result in owing money to their broker. At Trader center, your maximum risk of loss is limited by the amount in your account.

Q. What should I do in case I had any questions or complaints?

A: Our Dealing desk is opened 24hrs/day from Monday 1 A.M. – Friday 11p.m