Deposit and withdrawals questions
How do I deposit funds to my account?
You can make a deposit inside your Client Area using any of the funding options that we support. When clicking on the method which suits you best, our payment information will appear. You will need to take our payment details and pay us manually. Once we receive your funds, your trading account will be funded immediately.
What is the minimum deposit?
The minimum deposit is $50.
How do I withdraw funds from my account?
Log in to your Client Area on your trading account. click on the ‘withdraw’ button and chose one of our many withdrawal options that we have to offer.
Do you have any charges on deposits and withdrawals?
Deposits & Withdrawals may be subject to charges due to the exchange of currencies. However it depends on your banks base currency. Daily Market Movements does not profit from any processing fees which may occur.
How fast do you process my withdrawals?
We process all withdrawal requests within one working day.
How long does it take for funds to reach my bank account?
We process all withdrawal requests within 24 hours during on business days. The time necessary for the funds to reach your bank account depends on your bank’s policy. Bank withdrawals can take 3-7 working days to be seen on the client’s account. Credit/debit card withdrawals can take up to 8 working days to be seen on the client’s account.
Can I withdraw via a different payment method from the one I used for depositing?
We are one of the very few brokers who does allow for withdrawals to be sent to a different payment source than the deposit, providing it is in the same name of the client.
Can I withdraw my money if I have open position(s)?
Yes, you can. However, at the moment of payment, your free margin must exceed the amount specified in the withdrawal instruction including all payment charges. Free margin is calculated as equity minus the necessary margin (which is required to maintain an open position).
If you do not have sufficient free margin on your trading account, we will not carry out the withdrawal request until you submit a corrected withdrawal form and/or close the open positions on your account.
What are the minimum and maximum position sizes?
The minimum trade size is 0.01 lot and there is no maximum quantity.
What is your order execution speed?
Our average execution speed is around 86 milliseconds.
What are your margin call/stop out levels?
Our margin call / stop out levels are – 100/30%. Your account may be subject to a margin call if your account equity falls to a level that is equal to the margin of your existing positions. For example, you have an open position of 1 lot on EURUSD. The margin to hold that position is 200 USD.
When you opened the account, you had a 400 USD equity on your account. When the position starts to move against you and your account equity falls to 200 USD, you will have a margin call. But your position will not be closed yet. When your account equity falls to 30% of the required margin, then the system starts to close your positions immediately.
Taking the above example, if you open a position with 200 USD of margin and your account equity falls to 60 USD, then the system starts to close your position. If you have several positions opened, then the system closes them starting from the one with the biggest loss.
If, while closing the positions, your account equity reaches a level of more than 30% of the required margin, all other positions will remain open.
What are the minimum and maximum account leverage you offer?
We only offer a leverage of 1:100.
Are hedging and scalping allowed?
Hedging is allowed (arbitrage trading). The required margin for hedging positions on Classic, ECN Pro, and VIP accounts is 0. Scalping is also allowed. There are no time limitations for keeping the positions open.
Do you offer negative balance protection/cover negative balance?
Traders who use the maximum leverage available face the risk of a negative balance.
For example: Let’s assume that you have 200 USD on your account and you open 1 lot on USDJPY on Friday evening, with 1:100 leverage and 200 USD margin.
On Sunday night, the market opens 30 pips away from Friday’s closing price in a direction against you, so your position will immediately have a loss of 30 pips x 10 USD = 300 USD loss, while you have only 200 USD on your account.
The position will be automatically closed and your account would have a negative balance of -100 USD. This situation is 100% impossible when a trader uses 1:1 leverage. The higher leverage a trader uses, the more risks they take. Please also note that a negative balance may occur due to a slippage during high volatility.
Our Risk department is constantly monitoring our clients’ risk-taking and if we see that a client trades irresponsibly, then we will notify the client via e-mail and ask them to reduce risk exposure. Also, we might reduce the leverage on the client’s account.
Negative balance protection is not guaranteed. The general practice is that we cover the negative balance, but all cases are reviewed on a case-by-case basis.
What are the limits of setting SL, TP, and TS?
You can set Stop Loss and Take Profit orders with no limits on all account types. SL and TP orders will still be active, even if your computer is switched off. The minimum Trailing Stop level is 1.5 pips or 15 points. It is possible to set only 1 trailing stop per order.
Where is Daily Market Movements Trading LLC Registered?
Daily Market Movements LLC is a registered forex brokerage company in St Vincient. Daily Market Movements is regulated by the Financial Services Authority (FSA).
Is Daily Market Movements Trading LLC regulated
Yes, Daily Market Movements LLC is regulated by the Financial Services Authority (FSA).
What are your trading hours?
FX trading is available 24 hours a day, 5 days a week. You can trade from Monday 00:00 to Friday 24:00 (Server time, GMT + 2). For CFDs, we have specific trading hours listed on our trading platform.
Do you have a dealing desk?
We don’t have a dealing desk because we are an STP broker and all our procedures are automated. We have no conflict of interest with our clients as 100% of the orders are cleared with liquidity providers.
Does slippage occur in your platform?
At Tickmill, slippage can occur during big news announcements, depending on the market conditions and volatility. There can be both positive and negative slippage.
What devices can I access my trading account on?
We offer one of the most popular and easy-to-use platforms, which is available for Windows, OS X, iOS and Android. we have a desktop app which you can download to gain fast access to your account.
Do you offer Swap-Free accounts?
Yes, we offer Muslim faith traders all our accounts with a swap-free option, Please get in touch for more details.