Frequently Asked Questions
Opening an account
What types of account are available?
TigerWit offers an demo account on which to practice trading with virtual funds, and a Live account on which to trade with real funds.
How do I open an account?
Once you have registered online or via the app you will be invited to open an Experience or a Live account.
How long does it take to open an account?
Demo account are opened immediately. A Live account will normally be approved within minutes; however, we may request copies of ID to complete the process.
What documents do I need to provide?
We may ask you for a copy of your passport, national ID Card or driving licence, and a utility bill or bank statement confirming your address.
Deposit and Withdrawal
How do I fund my account?
Please manage deposits in the 'Deposit' section. You can make deposits via telegraphic transfer or Neteller via the app. You can also make deposits via Paysec in the 'Deposit' section of the website.
How do I withdraw funds?
Manage withdrawals in the Withdraw' section of the app. You can withdraw funds at any time, although we recommend that you maintain a surplus of margin in your account if you have open positions. There is no charge for withdrawals.
How long does it take to transfer funds?
Deposits are usually credited to your account immediately. We process withdrawal requests immediately and expect Neteller and Paysec funds to be returned within three working days. Telegraphic transfers may take up to five days.
What is the minimum deposit?
The minimum deposit is USD50.
What are the restrictions on withdrawal?
Only the approved live accounts can withdraw funds; The clients can only withdrawal after depositing; Trading behavior is required after depositing; The minimum withdrawal amount is USD30.
Are there any withdrawal fees?
Clients may make four withdrawals free of charge per month. Thereafter clients are charged USD1 per withdrawal.
Which markets can I trade?
We offer a comprehensive range of FX pairs, precious metals, commodities, and global indices.
When am I able to trade on the platform?
From Sunday 21:05 UTC through to Friday 20:55 UTC.
Where can I find the product specifications?
Product specifications are listed in the 'Markets' section of the app. Select a product and open up a trade window. Then click on the '?' icon for detailed product information.
What trading fees does TigerWit charge?
TigerWit does not charge any commission - only spread. Our FX spreads are variable and from 0.6. Overnight swaps and financing adjustments are applied to positions held overnight.
What is the minimum order size?
Our minimum order size is 0.01 lot for FX and precious metals, and 0.1 for commodities and indices.
What leverage do you offer?
TigerWit Global offers up to 200:1 leverage depending on the product being traded.
What is slippage and when might it occur?
Slippage occurs when an order is not filled at a specified price, generally because of low liquidity or price gaps.
Is there a time limit on holding a position or limit on the number of orders I can have open at any one time?
There are no time limits to open orders, however you must maintain sufficient funds to cover margin requirements and swap adjustments.
What is a swap?
Swaps reflect the interest and financing adjustments applied to a position held overnight. Swaps adjustments may take the form of a credit or a debit to your account, depending on the position held and the direction of the trade. No swaps are applied to trades opened and closed the same day.
When are swap adjustments applied?
Swap rates are calculated at 22:00 UTC and applied to eligible accounts shortly afterwards. If positions are held over a weekend swap rates will increase to reflect that fact.
Where can I check what swap rates TigerWit applies?
Swap details can be found in the product information page of a particular product. Swap rates are normally updated daily and are based on prevailing market rates.
Where can I check what swap fees I have paid or received?
Accumulated swap adjustments are detailed in your 'Trade History on the app in the 'Closed positions' section.
TigerWit Masters earn 20% of the value of successful trades made by followers. This amount is credited to the Master's account automatically.
Followers pay 20% of the profit made by following a Master's trade to the Master. Commission is deducted automatically.
Unfollowing a Master?
If you choose to unfollow a Master your position will remain open unless you choose 'Cancel following and force close your order', or the Master closes their original position. After the Master closes their position, you can keep your position open if you choose 'Do not follow to close'. If you choose 'Cancel following but do not close order' your position will remain open until the Master's order you were following is closed by the Master. If you choose 'Do not follow to close' your position will remain open until you close out manually. You remain liable for commission at whatever point the position is closed.
How do I download MT4?
To download TigerWit MT4 visit our 'MT4 download' page and select the operating system that you want to use. Alternatively, you can use the TigerWit MT4 web version.
How do I login to my MT4 trading platform?
When you open a TigerWit demo account or a TigerWit Live account we will email you TigerWit MT4 login details and a temporary password. To change your temporary password please visit the personal centre on the website and select 'Settings' and then 'Security'. Your new TigerWit password will work across both your TigerWit trading account and your TigerWit MT4 account. You can login to the TigerWit MT4 terminal from the menu at the top left corner of the MT4 terminal screen by clicking 'File' and then 'Login'.
Where can I find my TigerWit MT4 ID?
When you open a TigerWit demo account or a TigerWit Live account we will email you login details. You can also see your TigerWit MT4 ID by logging onto the 'Trading Account' section of your account on the website or app.
Where can I find more information about using TigerWit MT4?
For more information about please visit the 'Help' section within TigerWit MT4.