FAQ

C 7 Traders FAQ

Our FAQ is designed to provide you with a better understanding on our platform, trading in general as well as account funding.
Let us know if your question is not in our FAQ and we’d be glad to assist you. Alternatively, you may also wish to contact us via our live chat or email us at info@c7traders.com

Main Categories

General FAQ

What documents do I need to create an account?

For Live Account, you will need

  • Front and back copy of your identification card/passport
  • Proof of address document (recent utility bill or bank statement dated within the last six months) and
  • Bank account details (name and bank account number clearly stated within the same document, you may omit your bank balance).

There are no documents required for a Demo Account.

Why do I need these documents to open an account?

As a regulated brokerage, we operate and abide by rules and procedures imposed by our regulatory authority. These procedures involve the collection of documents from our clients, also known as ‘KYC’ (Know Your Client).

Do I need to upload these documents again if I'm creating a new account?

Unfortunately, yes. You will need a new set of documents should you wish to create a new live account.

Where can i update my personal information?

You may change or update your personal information from the Client Portal.

If you wish to update your residential address or banking details, please send an email to info@c7traders.com from your registered email address, along with a recent Proof of Residence document (not older than 6 months) or bank account details.

Do I need a trading account to login to the Client Portal?

Yes, you will only be able to access the Client Portal when you have created an account with us.

Do you accept clients from the United States?

According to the recent Dodd-Frank Act passed by the US Congress, the CFTC (Commodity Futures Trading Commission) no longer allow US residents to open trading accounts outside of the US.

What are the countries that you do not accept?

We do not offer our services to residents of certain jurisdictions such as USA, Iran, Cuba, Sudan, Syria, Japan and North Korea. This list will be subjected to changes based on regulatory requirements.

Funding FAQ

What is the minimum amount for opening a trading account?

There is no minimum amount to open a trading account. However, you do need to deposit money for margin when you wish to start trading. We recommend a starting fund of US$2,000.

What are the different payment methods I can use to fund my account?

For online payment, we accept Visa/Mastercard/CUP. We also accept bank transfers to our corporate accounts. Please click here for more information. Alternatively, you can find funding information in your Client Portal by logging in here.

If you have made a bank transfer to our corporate bank, you MUST attach the screenshot or any proof of transfer that shows your Name and Bank Account Number using the form under the Funding tab in your Client Portal.

Which currencies can I use to deposit funds using the online payment method?

You can deposit funds in 2 base currencies: USD and RMB.

Your trading account is denominated in USD.

*If you deposit funds in a currency different than your base currency account, it will be converted into the base currency of your trading account by us at the prevailing rate at the given time. Please refer to conversion rate here.

How do I verify my Credit or Debit Card on Skrill?

Click here to access Skrill support site. You should contact Skrill directly should you face any difficulty related to your Skrill account.

How do I request for a withdrawal?

Log in to your Client Portal here and head over to the “Funding” tab, then select “Withdrawal” and fill in the form.

How long is the withdrawal process?

We will process your withdrawal once we received your request, which will usually take 1 working day.

However, please expect up to 3 working days for funds to be available in your bank account as funds transferred to other banks will be subject to their processing and clearing.

Can I withdraw funds when I have open positions?

Yes, you are able to withdraw funds if you have open positions on your platform.

Please note that your free margin must exceed the amount specified in the withdrawal instructions, including all payment charges. Your request will be cancelled should your equity be lower than your requested amount and you will need to submit a new request.

Please note that any credit bonus in your account is considered as part of your equity and will be deducted as the result of any withdrawal.

Where will I receive my withdrawn funds?

You will receive your initial deposit via the payment method initially used with the excess funds sent to your bank account (from the upload phase during live account creation). You may also request to send the excess funds to any supported e-wallet account.

For example, you made a deposit of US$1,000 through credit card and profited US$200 and request for a full withdrawal, we will refund US$1,000 back to your credit card and US$200 back to your bank account.

In the event that your excess funds is less than the bank charges, your excess funds will be returned via our supported e-wallet account. Please check the respective fees involved for Skrill and Neteller when withdrawing funds from the e-wallet to your bank account.

What are the relevant fees per payment method?

C 7 Traders does not charge any fees for deposits or withdrawals. However, the respective banks or payment providers may impose additional fees.

Can I transfer funds from my trading account to another client’s trading account?

No. It is forbidden to transfer funds between different clients’ accounts.

Can I deposit or withdraw to/from my friend’s/relative’s account?

As a regulated brokerage, we do not accept deposits/withdrawals made by third parties. Your deposit can only be made from your own account, and the withdrawal has to go back to the source where the deposit was made.

Trading in General FAQ

How long does it take to open a live account?

Creation of trading account is immediate. You will receive a confirmation mail with your trading account number and password from us once the account is created. However, it may take up to 24 hours to validate your KYC documents. If your account is not validated, your withdrawal process may be delayed till your KYC is verified.

How can I start trading?

You would have received an email notification which includes your trading account number as well as your password. You can then login to the various trading platforms with these credentials to make a deposit.

Once you’ve received an email notification from us that your account has been funded, you are ready to trade.

Do I need to download any software before I start trading?

Our platform is streamlined across Web, Mobile, Tablet and MT4. Click here to access our Web Trader, no download is required for web trading. To access MT4, download it here. For mobile and tablet, download it here for Android users and here for iOS.

What is the leverage, margin call and stop out level of my account?

The default leverage is set at 1:100, margin call is at 150% and stop out at 100%.

Can I change the leverage on my account?

A maximum of 1:200 leverage will be given if clients total deposit are more than US$5,000. To request for a higher leverage, please contact our support staff or send a mail with subject ‘Leverage Review’ to support@c7traders.com for a review.

Are there any trading restrictions? (Important!)

As a STP brokerage, there are no trading restrictions and we allow the usage of EAs and strategies. However, from past experiences, we have noted that the Liquidity Providers have issue claw backs on profits gained from HFT, scalping, arbitrage and/or other off market trading strategies that has an unfair advantage over them. Therefore, you understand the risk by using such strategies.

What kind of execution does C 7 Traders adopt?

We believe in placing the best interests for our clients. Hence, we operate under a STP model, where clients trades are passed on to Tier 1 liquidity providers for execution.

Why was the swap that I was charged so high on certain days?

On Wednesdays, the charges for regular swap will be tripled. This is made in order to take the weekend into account.

Why are the spreads higher after 2300 hrs?

From 23:00 to 02:00 server time, all markets are closed and therefore there is very low liquidity in the market.

What are the trading hours?

Trading hours are round the clock, starting at 00:00 Monday and closing at 00:00 Saturday server time. Server time is GMT + 2. (GMT + 3 applies during daylight saving/summer time)

What is the difference between the balance and the equity that appears on my trading platform?

The balance illustrates your closed positions’ Profit/Loss while the Equity is the real time calculation of Profit/Loss i.e. taking into account both open and closed positions.

What happens if my account goes negative?

C 7 Traders takes all measures to inform our Client when their account drops below a certain threshold level. Margin call and stop out level are also in place to safeguard the Client’s funds as well as Company’s interest.

However, should Client’s account go negative, we will not be liable for the Client’s losses. All negative equity should be repaid back to C 7 Traders, unless otherwise agreement of waiver by the Company.

How long is the demo account valid for?

Our demo account(s) has no expiry and you may use it for as long as you want. You can always request for a top up in funds by sending an email to support@c7traders.com.

Do you offer VPS service?

No, we do not.

Where do you get your price feeds from?

We obtain our raw feeds from our prime brokers. (JP Morgan, Barclays, SaxoBank etc)

Trading Platform FAQ

What are the trading hours?

Trading hours are round the clock, starting at 00:00 Monday and closing at 00:00 Saturday server time. Server time is GMT + 2. (GMT + 3 applies during daylight saving/summer time)

Can I login to multiple platforms at the same time?

Yes. Our platform is streamlined across 4 platforms – Web, Mobile, Tablet and MT4. With a unified log in system and shared wallet, Client can perform their professional trading through MT4 and copy trade through our web trader.

Why can’t I login to MT4?

Look to the bottom right corner of the platform and check if it’s showing all red. Check if you have your Caps Lock on and try again.

I got an error message that says “Trade Context is busy”, how this can be solved?

Restart your MetaTrader 4 terminal by simply closing it and launching it again.

Do you have a user manual on your platforms?

Yes, please login to your Client Portal and find them under the “Download” section.

Where is your technology from?

Our technology partner is based in Israel. We purchased it from them and re-branded it under our Company’s name.

Where are your servers located?

It is located in Equinix LD5 London. If you are residing in Asia, your connection will be accelerated through a POP. If you are residing in Europe, you will connect directly to the server farm.

What is the difference between demo and real accounts?

All features and functionalities of both live and demo accounts are the same. However, you must understand that simulation cannot be replicated in real market trading conditions.

One major difference is that trading volume does have an effect on the market, especially when the units entered are sizable.

Do you support Trailing Stops and Expert Advisers?

Our MT4 platform supports such functionalities. Please be aware that trading operations using additional functions on your client terminal such as Trailing Stop or Expert Adviser are executed completely under your responsibility, as they depend directly on your client trading terminal.

I can only see 8 pairs on my MT4. How can I see the rest?

Log in to your MT4 platform -> Market watch window -> right click -> Show all -> scroll down and you will be able to see all instruments available for trading.

Can I change the time zone in MetaTrader?

No, you can’t. The time zone of our trading servers is always GMT+2 winter time and GMT+3 summer time.

I can’t see the opening/closing price on my chart.

Every buy order is open at ASK price and closed at BID price, and every sell order is open on BID price and closed at ASK price.

Do you offer trading platforms for MAC?

Unfortunately, no. MetaTrader only runs on Windows.

You may run MT4 using a third party software, however, we do not provide support for the use of such programs.

Do you provide any support for platform usage?

Yes, it is important that you understand how the platform works and you may find detailed supporting materials and guides from our Client Portal.

Alternatively, you may wish to use the live chat or email support@c7traders.com for your enquiries.

Social Trading FAQ

What is Social Trading?

Think of it as the “Facebook” of trading. By integrating social content with trading, investors can now make better investment decisions through the social feeds or copy trading. Social Trading helps investors to get started through an interactive and engaging manner.

What is Copy Trading?

Copy trading is an innovative way of investing. By copying professional traders, investors are able to replicate their success through an automated yet simple manner.

Is there a fee to use Copy Trading?

No, copy trading on the social community is completely free.

*The social community is made up of traders from all around the world (across different brokerages) utilising the same web based trading platform. Trading conditions may vary.

Can I copy trades with a demo account?

No, this is to protect the integrity of the live community. However, you can create a free Live Account and there is no minimum deposit required.

Is it possible to do my own trades without copying others?

Definitely. You can conduct your own trades and access your account through multiple platforms. Copy trading is an added feature that we offer to our clients.

Why am I seeing percentage returns instead of dollar value on the trader’s profile?

Social Profile statistics are reflected in percentage to ensure privacy of traders. We strive to be as transparent on the platform by providing as much information as possible.

However, not every trader wish to reveal their absolute profit/loss nor their account balance. Hence, this feature is not available at the moment.

What does Success Rate means?

Success rate refers to the trader’s winning percentage. Calculated by Winning Trades / Total trades * 100%.

How does the trader ranking works?

Trader is the most junior rank, as the number of follower increases, so will your rank.

Is the P/L on the top left of the trader’s profile the overall P/L?

Yes, that is the return on equity. It refreshes everyday at 0500. The P/L on your profile is not real time, but the Open, Pending and Closed positions are in real time.

Why does the percentage in the Web Trader goes more than 1000%?

The percentage refers to the returns on margin and not equity. Therefore it is possible to have more or less than 1000% return on margin, unlike equity where the maximum loss is capped at 100%.

A detailed explanation is given under the Calculations FAQ.

Can I change my Social Profile name?

No, social profile name is fixed and tied to the account. The only way to change it is to create a new live account, that also means you lose your trading records associated with the account.

How do I set the clock in the Web Trader to local time?

You can’t. It is taking the same settings as MT4. The time zone of our trading servers is always GMT+2 winter time and GMT+3 summer time.

Strategies FAQ

 

Who / What are strategies?

Strategies / Signal Providers are traders whom provide exclusive trading feeds to our VIP clients through copy trading.

They are made up of in-house proprietary traders, external partners or retail traders. In exchange, our VIP clients will have to pay a service fee to the signal providers, either through profit-sharing or subscription fees.

How do I copy these Strategies?

You may view the past records of the Signal Providers from our ‘Strategies’ page or from the Client Portal.

To copy onto their strategies, ensure that your account has met the minimum required sum, then submit a copy request from the Client Portal.

Can I trade in the account that is copying the strategies?

No, you are not allowed to place trades in an account that is currently copying a Strategy. Your copying account is strictly for viewing and monitoring only.

You will be notified should we realise trades being placed apart from those entered by the Strategy. We will terminate your copying should there be similar actions after our effort to notify and inform you.

What are the fees to copy these Signal Providers?

There is essentially no “fee” per se and the only payment is done through profit sharing, usually 30:70 (Some Signal Providers may have a different agreement with their clients).

Tabulation of P/L is done on the last working day of the month (unless otherwise stated), also known as ‘Accounting Day’ and any profits generated in your account will be shared between you and the Signal Provider.

For Example:

Your account of $10,000 is copying Strategy A.
Strategy A made 1% within the month.
A total of $1,000 is to be shared, in this case, 30:70 (70% to investor)

  • If you choose to withdraw your profits, you will receive $700 and your account equity goes back to $10,000.
  • If you choose to roll your profits, your account equity is now $10,700.

What happens if there are losses?

There will be no profit sharing should there be losses in your copying account. The sharing will only resume once profits are above your high watermark.

For Example:
Account of $10,000
Month 1 – Loss of $1,000. No sharing
Month 2 – Gain of $1,000. No sharing
Month 3 – Gain of $1,000. Sharing is done.

Are my losses capped?

Yes, all our strategies comes with a 20% maximum draw down limit. Meaning if a strategy has gone against it’s favour, all trades will be cut off when the account is down by 20%.

You will be informed when the strategy is down by 15% and there is no action required.

We may or may not retain the particular strategy at our own discretion should it reached the 20% hard stop level.

What's the difference between rollover profits and withdraw?

You have 2 payout options when copying Signal Providers.

Withdraw Profits

After Accounting Day (last working day of the month unless otherwise stated), your profits (after Signal Provider’s share) will be credited back to your incoming source. Meaning if you deposited via bank transfer, your profits will be credited back to your bank account. After which, your account goes back to it’s original sum and a new month starts.

Rollover Profits

After Accounting Day (last working day of the month unless otherwise stated), your profits (after Signal Provider’s share) will be credited back to your trading account. Meaning your copying amount is now the original sum + profits, this amount will also be your new high watermark and any profits above this new amount is for sharing.

I can no longer see the other traders after copying, why?

You will be placed in our private community once your copying has commenced. Therefore, traders from the open community will not be visible in your account.

You will need to create a new live account if you wish to monitor profiles on the open community.

Why do i need to meet the minimum sum?

Copying a strategy below the minimum sum will result in your account not replicating the right risk/reward ratio and will potentially run into margin issues.

Can I be a Signal Provider?

Absolutely yes. You will need to meet the following criteria before your strategy can be listed on our site.

  • Live account of at least US$5,000
  • Email us at fundmanager@c7traders.com and start building your track records for a minimum of 6 months.
  • At the end of 6 months, your account will be made visible to thousands of clients, online and offline. (Subject to approval, based on your consistency, profitability, risk management etc)
  • Share profits with your clients once they engage you for your signals.
  • Supporting documents like live trades history or Myfxbook profiles are advantageous though not deciding factor.

Can I copy 2 different Strategies with 1 account?

No, each strategy requires an account on its own. This is because of margin utilisation and accounting purposes.

We can assist in creating a new account on your behalf should you wish to copy onto 2 or more strategies.

How can I terminate my copying?

You can do so by logging in to the Client Portal, under the Signal Providers tab, search for your current Signal Provider and scroll down till you see the termination button.

Charges FAQ

What are the charges that I should be aware of?

As a STP brokerage, C 7 Traders does not impose any fees or commissions to your trades. However, you should be aware of some of the charges below.

  • Swaps. Any positions held overnight will incur a ‘holding cost’ or rollover swaps, commonly known as swaps. This amount can be either negative or positive depending on the instrument and direction of position. You may view the swaps on MT4 by right clicking the particular instrument, followed by ‘Specification’. It is indicated as ‘Swap Long’ and ‘Swap Short’.
  • Bank Charges. C 7 Traders does not impose any fees on both deposits and withdrawals. However, payment gateway and/or providers may charge a processing fee during transactions. Please also note that there will be Telegraphic fees (TT) for bank transfers.

You are strongly encouraged to read up and be familiar with the relevant fees involved before requesting for withdrawals. More information can be found on our Funding page here.

Security FAQ

What is the safety of my funds with C 7 Traders?

C 7 Traders maintains isolated client accounts to ensure that client funds are fully segregated from C 7 Traders’s own funds at all times. Client accounts have the required checks to ensure that they are used for clients’ funding purposes. All client funds deposited at C 7 Traders are completely separated following our strict policies and procedures, with activities monitored and reviewed by our external and internal parties. As a client, you can be assured that your funds are safe.

What does C 7 Traders do with my personal information?

Your information may be used to help us make further enquiries, including checks to tackle fraudulent activities.

We do not sell your personal information to any third parties for marketing purposes.

I forgot my password. What should I do?

Click on the “Forgot Password” link here to retrieve your password. Alternatively, you may change it from the Client Portal here.

How do I reset my password?

You can reset your password by logging in to the Client Portal. Under the Personal Information tab, click on ‘Change Password’.

Trading Issues FAQ

The price on the chart is different than the price appearing on my trading terminal. Why?

The chart shows the Bid price by default. A Buy position is opened with the Ask price and closed with the Bid price. You have to add the spread on the Bid price to find the Ask price. Therefore the difference in price is due to the spread.

My order got stop-out. Why?

Your order will be stop-out when the margin level (Equity/Used Margin) of your trading account goes below 100%. Your positions will start closing starting from the most unprofitable. You may refer to the “Calculations” tab to learn more.

Why can’t I trade some symbols?

Your account may be of a variable spread setting and therefore, you may be selecting the wrong symbol to trade. You should select currency symbols that have a dot (“.”) at the end. These are called variable symbols. Symbols without the dot (“.”) at the end are fixed rates and may not be available in your account. Go to the MT4 market watch, right click and select “Show All” for them to be displayed – if not already visible. This also explains why certain instruments are not copied from your master.

Why can I not trade a given future?

Futures have expiration dates and trades cannot be opened after their Last Trading Date. A new contract will be made available thereafter. Go to the MT4 market watch, right click and select “Show All” for them to be displayed – if not already visible. Otherwise, refer here for the expiry calendar on our future contracts.

I had a trade in a future that closed by itself without me closing it. Why is that?

Positions in futures contracts that have not been closed by the Last Trading Date will automatically close at their last quoted price. Refer to the Client Portal for the expiry calendar on our future contracts.

Why didn’t my Take Profit triggered, while the chart reached the price I had set?

Sell positions are closed with the Ask (Buy) price. The price the chart is showing is the Bid (Sell) price, which is lower than the Ask price. You need to add the spread to the price that you see in the chart in order to get the Ask price.

Products FAQ

Calculations FAQ

When does my copied amount gets rounded up?

Master Free Margin = A | Copier Free Margin = B | Lot Size Opened by Master = C | Lot Size Opened by Copier = D | Leverage of Master = E | Leverage of Copier = F

Therefore, when (B/A)*(F/E) is less than 10%, it will not be opened. When (B/A)*(F/E) is more than 10%, D will be above or at least open the minimum lot size.

How much margin is being used per trade?

Margin Used = Units Opened * Leverage * Base Currency in USD.

For example: 1 Lot of USDCAD
Margin Used = 100,000 * 0.01 * 1 = US$1,000

For example: 1 Lot of GBPUSD
Margin Used = 100,000 * 0.01 * 1.4000 = US$1,400

How much is 1 pip (0.0001)?

If you are trading Forex pairs with USD as the quoted currency (EURUSD, GBPUSD, AUDUSD), 1 Lot for 1 pip is always US$10 | 0.1 Lot is US$1 | 0.01 Lot is $0.1

If you are trading Forex pairs when USD is NOT the quoted currency (EURCHF, EURGBP, GBPAUD), 1 Lot for 1 pip is in the respective quoted currency. 10 CHF is US$10.30 | 10 GBP is US$13.07 | 10 AUD is US$7.48 |

What does Margin Call at 150%, Stop Out at 100% means?

Margin Level Percentage = Equity / Margin Used * 100%

For Example: If you have an equity of US$5,000 with margin used of US$1,000 on 1 Lot of USDCAD,

When your account falls by -US$3,500 (350 pips), your equity will be at US$1,500 which is 150% of your margin used. This is where you get an alert on your platform or Margin Call.

When your account falls by -US$4,000 (400 pips), your equity will be at US$1,000 which is 100% of your margin used. This is where you get Stopped Out. Should you have more than one open positions, the one with the largest loss will be closed off first.

Please note that it is your responsibility to monitor your account margin utilization and open positions so as to prevent getting stopped out. Take immediate actions by depositing into your account when you are having a Margin Call to prevent it from being Stopped Out.

Why and how can a particular trader have more than 1000% return on the instrument in Web Trader?!

The percentage return on the instrument refers to the return on margin used.

Return on Margin Used = Absolute Returns / Margin Used * 100%

For Example: If you make 200 pips on 1 Lot of USDCAD with 100:1 Leverage,
Return on Margin Used = US$2,000 / US$1,000 = 200%

How does the percentage return on the Social Profile calculated?

The percentage return of the top left of the Social Profile refers to the return on nett deposit.

Return on Nett Deposit = Absolute Returns / (Total Deposits – Withdrawals) * 100%

For Example: If you make 200 pips on a US$5,000 deposit account,
Returns of Nett Deposit = US$2,000 / US$5,000 * 100% = 40%

How is my copied amount calculated?

Master Free Margin = A | Copier Free Margin = B | Lot Size Opened by Master = C | Lot Size Opened by Copier = D | Leverage of Master = E | Leverage of Copier = F |

Therefore, D = C*(B/A)*(F/E)

Company FAQ

Is C 7 Traders regulated?

C 7 Traders is regulated by the Vanuatu Financial Services Commission (License No. 14590), authorising the company to provide Prime Brokerage Services, Straight-Through Processing and Fund Management.

Who/What is C 7 Traders?

C 7 Traders is a brokerage firm that provides a social trading platform for its investors. We are also a technology provider on trading platforms and liquidity. We started out in 2014.

Why do you call yourself C 7 Traders?

We wanted our identity to stand out as a trading firm, and hence ‘Traders’ came about. As for ‘C’, it stands for Capital, and 7 stems from the continuity of the 6 asset classes in the market – Equities, Forex, Commodities, Indices, Bonds, Options.

Where is C 7 Traders located?

Our HQ is in Vanuatu with our support branches and multiple introducing broker locations across the world. You may find our addresses here.

Can I visit your premise?

Due to local jurisdiction governing FX products, we do not open our support branches to customers (B2C) as it might be construed as solicitation. B2B customers whom wish to adopt our technological solutions may still visit us at our premise.

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