Frequently asked questions.
About GWG (Cyprus) Ltd
Gwtrade.eu 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).
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.
Our company is located in this address: 18 Kyriakou Matsi Avenue, Victory Tower, Office 302, Nicosia 1082, Cyprus
GWG (Cyprus) Ltd has partnered up with Broctagon Ltd, one of the biggest Liquidity providers in the market.
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 GwTrade 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
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 GwTrade 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.
GWG (Cyprus) Ltd does not offer swap free accounts
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
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.
You can upload your documents at the time of your registration. You can also upload documents via your GwTrade portal by clicking on 'My Account' and then 'Documents'. Alternatively, you can email us your documents, through your registered email address at [email protected]
GwTrade 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.
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 GwTrade 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.
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
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
Log in to your personal trading account with GwTrade, 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.
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]
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.
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
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.
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
In GWTrade.eu, we offer CFDs on a wide range of instruments, including major, non-major and exotic currency pairs, metals, energies, shares 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.
You can check all the detailed instrument specifications on our website.
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.
To check all our Stocks instruments please click HERE.
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.
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.
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)
"To login to your MT5 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 ‘GWGCyprusLimited’ for a live account and ‘GWGCyprusLimited’ for a demo account
Select the platform MT5, and click ‘OK’”
You are now logged in to your trading account."
"There are many ways to place a new order in the MT5 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."
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."
"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 ‘Market 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, Sell Stop Order, Buy Stop Limit or a Sell Stop Limit. A stop level is set above the current Ask price, while Stop Limit price is set below the stop level, while a stop level is set below the current Bid price, while Stop Limit price is set above the stop level. 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."
First, locate the order in the MT5 ‘Terminal’ window at the bottom of your MT5 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.
Start by clicking on “New Order” in the toolbar or by right clicking on your desired asset in the Market Watch tab. Press CTRL+U to bring up the symbols window and select your desired underlying asset. Once you open the desired position on a symbol then right clicck on the symbol, select Trailing Stop and then select the points you wish to be used for the trailing stop. Trailing the stop-loss allows traders to limit their losses and safeguard their profits. Trailing Stop is the practice of moving the stop-loss level closer to the current price when the price moves in your favor
"To enable Android or iOS alerts straight to your mobile device from within your MT5 platform please follow the steps below:
1. Open your MT5 mobile application
2. Go to Settings > Messages > MetaQuotes ID and make a note of your ID
3. Open your MT5 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 MT5
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."
Open MT5, go to File>Open Data Folder, then select MQL5>'Experts' or 'Indicators' and paste your MQL5/EX5 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.
To remove an EA from your MT5 platform, right-click on the chart, select ‘Expert Advisors’ and then ‘Remove’.
Log in to your MT5 terminal and click on the ‘History’ in the ‘Terminal’ window at the bottom of your MT5 screen. Right-click anywhere inside the tab, then select custom period and the select report to choose the format to export your customized report
"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."
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 MT5 Terminal window to see if there are any errors.
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 and click on Comment --> ‘Commissions’ to add the column to the display. "
"The Close By operation allows traders to simultaneously close two opposite positions of the same financial instrument. If opposite positions have different lot values, only one of them will be left open. Its volume will be equal to the difference between the lot values of the two positions, while the direction and open price of the remaining position will be the same as the direction and open price of a larger position. Compared to a individual closure, the Close By operation allows the trader to save one spread:
If the positions are closed separately, the trader pays the spread two times: the Buy position is closed at Bid, and the sell position is closed at Ask.
During the Close By operation, the open price of the second position is used to close the first one, and the second position is closed at the open price of the first position."