Frequently Asked Questions
As a way of introducing what Jin Daocheng Ltd is all about, we’ve put together a collection of our most frequently asked questions. Feel free to browse our FAQ’s below and feel free to contact us at any given time for any additional information or clarifications you may need.
Yes. We pride ourselves on abiding by the highest standards of compliance and anti-money-laundering procedures. This requires all trading accounts to be verified. To verify your account you will need to provide with copies of the following documents:
1) Personal ID Document
Colored copy of your Passport or National Photo ID card or Driver’s License (front and back).
2) Proof of address
A utility bill in your name clearly showing the address used to open your trading account with us (gas, water, electricity, fixed phone,etc.) or bank statement in your name. Issue date should be not more than 3 months before date of submission to us.
No. While we do provide a desktop version of our MetaTrader 5 trading platform which can be downloaded and installed on your PC, all our clients also get access to a web-based version of the platform. Using the web-based platform does not require any software download or installation.
No. Our platforms are provided free of charge to all our clients.
Yes. We offer our clients a fully featured demo account that closely follows the trading conditions for our live accounts.
We believe in making our trading accounts accessible to the widest possible cross-section of traders. A Jin Daocheng account can be opened with a starting deposit as low as $500.
Our funding methods include Bank Transfer at this stage. All payments are fully secured and go through regulated, PCI compliant payment processors. For more information on the deposit options available, please visit our Funding page.
Jin Daocheng Ltd will not charge any processing fees for account funding. Please be aware however that your bank may apply fees to your transactions. Please check with your bank for more details.
Leverage is a way to maximize your trading power by multiplying the funds available in your trading account and is a form of “credit” from your broker. For example, if you deposit $1,000 in your trading account with 1:100 leverage, you will effectively be able to open trading positions of up to $200,000. Leverage increases losses as well as profits, so please use with caution.
Margin is the capital required in your account to open a given trading position.
A Pip is the smallest price change possible for any given currency pair.
A Lot is the standard unit for any forex transaction, where a Standard Lot is equivalent to 100,000 units of the base currency.
While our normal execution model does not allow for slippage, this may become evident in volatile market conditions. This is not something over which we have any control.