Frequently Asked Questions

Who would benefit most from a Rookie account? 

The Rookie account is an account type that suitable to use by newbie traders, which providing them with the opportunity to engage in trading with smaller volumes and minimal trading units (cent lots). This account features the smallest minimum trading volumes, making it well-suited for experimenting with and testing various trading strategies. 

Rookie Account 

Minimum Deposit : $10

Swap : Free

Spread From : 0.0 pips

Max Leverage : 1:2000

Account Currency : USC

Minimum Order Volume : 0.01

Maximum Order Volume : 100 lots

Minimum Step Volume : 0.01

Margin Call : 50%

Stop Out Level : 30%

All Strategies Allowed : Yes

Commissions : 3 USC per lot

Available Base Currencies : USD, GBP, EUR, AUD, CAD, JPY

There might be various reasons why closing your open order in MT4 or MT5 platform is not possible. Some potential factors to consider include: 

Closing Open Orders during Market Closure: If attempting to close an open order during weekends or a trading instrument's daily break, it may fail until the market reopens

Resolve this by waiting for the market to reopen for the specific trading instrument and then attempting to close the order.

 Visual Glitches and/or Connectivity Problems: The presence of visual bugs or connectivity issues might falsely convey that an open order is not closing. 

Address this by completely closing your trading terminal and reopening it to verify the status of the order. 

Technical errors: Technical errors can indeed be one of the reasons why a client might face difficulty in closing an open order 

 If the problem persists, it's recommended to reach out to the Trading Pro Support team for assistance.  

1.  A take-profit order, a form of limit order, allows you to specify a precise price at which your trading provider will close your open position, securing a profit for you.
2. Traders utilize a stop-loss order to curtail losses or secure the remaining profit on an existing position. This order is a crucial tool in effectively managing the risk associated with a trade.
3. For short-term traders, take-profit orders prove valuable as they enable the management of risk by exiting a trade immediately upon reaching the planned profit target. This strategy helps them avoid potential downturns in the market.
4. Stop-loss orders provide a straightforward and intelligent approach to mitigating the risk of loss in a trade. Additionally, they serve the dual purpose of securing profits.
5. Determining the optimal prices for both take-profit and stop-loss orders typically involves a blend of technical and fundamental analysis, reflecting a comprehensive approach to the trading strategy.

Determining the optimal price levels for both your take-profit and stop-loss orders involves considering a wide range of factors, and these factors naturally vary from one trade to another. They encompass elements such as your individual risk tolerance, the security's volatility, and your short-term and long-term investment objectives.

Traders often employ technical analysis tools, including support and resistance levels, to pinpoint suitable prices for entry, take-profit, and stop-loss points. Some assets warrant scrutiny to discern whether retracements are frequent, necessitating a more proactive stop-loss and re-entry strategy.

In essence, take-profit and stop-loss orders are widely used, straightforward, and effective instruments that provide benefits to traders aiming to secure profits while minimizing potential losses. They are viewed as safeguards in trading. In adverse scenarios, a stop-loss can avert significant losses in unforeseen circumstances, while a take-profit order shields a trader from a downturn that has already reached their price target.

Nevertheless, it's crucial to recognize that take-profit and stop-loss orders may not be suitable for every situation. For instance, employing them may not be advisable for very long-term investments or when dealing with extremely volatile instruments.

It's important to note that trading with CFDs involves leverage, which can result in faster-than-expected losses. Additionally, relying solely on past performance as an indicator for future returns through technical analysis may not always be reliable, so it's essential to factor in your risk tolerance. 

1. Explore the market you're interested in.
2. Determine your trade based on technical and fundamental analysis.
3. Create a trading account or practice on a free demo account.
4. Choose your trading opportunity.
5. Determine your position size and handle risk by selecting your price level, stop level, and take-profit level.
6. Execute your trade.