FAQ

Last updated 14 days ago

What's the minimum position size?

The minimum margin size is 0.001 BTC. There is no minimum deposit.

What's the maximum position size?

The maximum position size for each market is listed here.

What's bid? What's ask?

The market bid price is the price at which you can currently sell, and the market ask price is the price at which you can currently buy.

The spread is the difference between the bid and the ask.

Buy orders are executed at the ask price, and sell orders are executed at the bid price. Buy orders are closed at the bid price, and sell orders are closed at the ask price.

What currencies can I deposit?

WCX's trading platform currently accepts BTC deposits only.

How do I demo / practice / paper trade?

WCX offers unlimited, risk-free demo trading. You'll get a 10 BTC balance to start trading which you can refill indefinitely.

You can switch between your real and demo accounts from the top left corner of your dashboard.

Demo trading works exactly like real trading, except your balance is fictional.

Can I buy digital currencies with dollars on WCX?

No – we don't currently support fiat deposits.

I'm an EU resident. Why is my leverage restricted to 30x?

The European Securities and Markets Authority (ESMA) has recently formally adopted new measures on the provision of contracts for differences (CFDs) and binary options to retail investors. While the products offered by WCX may not be considered CFDs or binary options in the traditional sense, there are enough similarities to warrant compliance with retail investor protection laws.

The product intervention measures ESMA has adopted under Article 40 of the Markets in Financial Instruments Regulation include leverage limits on the opening of a position by a retail client residing in the EU: 30x for major currency pairs; 20x for non-major currency pairs, gold and major indices; 10x for commodities other than gold and non-major equity indices; 5x for individual equities and other reference values; 2x for cryptocurrencies.

What are the market opening hours?

Crypto markets trade 24/7.

Forex markets are open from Sunday 5PM (New York time) to Friday 5PM (New York time). Forex markets, which include indices, sometimes take breaks of up to one hour during the day (usually when major stock exchange markets close), and may be closed during major holidays such as New Year's or Christmas.

Stocks trade from Monday to Friday, 9:30AM to 4:00PM New York time. Stocks are closed during US and major holidays.

When a market is closed, you can't open new positions or close existing positions until the market opens again.

Can I trade stocks after hours?

We do not currently offer after-hours trading.

What's a take-profit?

You can set a Take-Profit (TP) price on your position to automatically close it once a specified profit has been made.

A take-profit will execute at the bid price for buy positions and at the ask price for sell positions.

What's a stop-loss?

You can set a Stop-Loss (SL) price on your position to automatically close it once a specified price is reached causing a loss.

A stop-loss order closes your position when reached, so it'll execute at the bid price for buy positions and at the ask price for sell positions.

Are positions automatically closed at the end of the day?

No. Your positions remain open as long as you wish – the system does not close them at the end of the trading day.

Note: demo trading positions will automatically close after 30 days to prevent leftover buildup on our trading system. This does not apply to real positions.

Are there any trading restrictions?

There are in the large majority of cases, no restrictions on trading. We reserve the right to suspend accounts engaged in behavior that is detrimental to other traders or puts the platform at risk. Examples of such behavior include:

  • trading based on faster price sources

  • high-frequency, negative-impact arbitrage

  • using multiple accounts to get around maximum size limits

  • institutional collusion or syndicate play

I have an open position. What happens if BTC/USD price drops?

Fluctuations in BTC's USD rate don't affect your position. On WCX, everything is counted directly in BTC.

How fast are withdrawals?

Most withdrawals are processed within 1 hour of being requested. Some withdrawals may need to undergo review or be processed from our offline wallets, which may take up to 24 hours.

Are there any withdrawal or deposit limits?

No.

Do you have an API?

Yes.