Help Centre
Frequently Asked Questions
Our FAQ was created and is continuously updated depending on fresh information and your feedback. We’ve gathered everything you’ll need to know about Kudotrade, including how to register an account, sign in to the platform, and trade
How long does it take to open an account?
The process of opening a live account can take up to 5 minutes, entering your information to create the account and you will receive an email from Kudotrade with your MT5 login details.
What documents are needed to verify my account?
A form of ID is needed (e.g. passport or driving licence) and a utility bill of your choice (e.g. bank statement, water bill etc.). You will be able to trade for 30 days without uploading your documents, however after 30 days you will be unable to trade until the account is verified with the appropriate documents.
What proof of address document is required?
We require a utility bill (water or electricity bill) or a bank statement dated within the last 6 months.
How do I upload my verification documents?
Sign into the Kudotrade client portal, click ‘account settings’, then ‘upload documents’. Select the document type and choose the document from your files, once selected click upload document. Once your account is verified you will receive an email confirming verification
What apps will I need to download?
Once you have created your Kudotrade account, you will need to download the Metatrader 5 app.
To sign into the metatrader 5 app on your phone follow the steps below
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- Click login to an existing account
- Search for the server given to you on the email from Kudotrade
- Enter the login number and password on the email from Kudotrade.
What trading account types do you offer?
We offer the following trading accounts:
- Standard account
- Pro account
For further details, go to the trading tab and click on either ‘Standard account’ or ‘Pro account’ to see more information.
I forgot my password, what should I do?
Go to the Kudotrade Client Portal, go to account settings, click ‘change password’ and enter your old password. Below you can enter the new password and submit.
Can I open an additional live account?
You can have one account in your name, however you can open different live accounts through the client portal. Go to ‘Account settings’, then trading account and enter your details.
I created two accounts and deposited into the wrong one, can I transfer my funds across?
Internal transfers can be made through the client portal; simply go ‘requests’, then ‘internal transfer’. Select the account you would like to move the funds from and the account you would like to move it too, then enter the amount you like to transfer and press submit.
What trading platforms do you offer?
We are a forward-thinking broker, so we want to provide the most current and effective platforms possible. As a result, we offer Metatrader 5 to ensure our traders have the greatest trading experience possible.
How do I change my leverage?
Sign into the client portal, click ‘requests’, then ‘change leverage’. Select the trading account and what leverage you would like to change too, then press change.
How do I fund my account?
Once you have created your account, you can sign into the portal using the login details from the email sent to you from Kudotrade. Click on ‘deposit’ and choose the appropriate funding method to fund your account. Please note some deposits can take up to 24 hours to process.
Can I withdraw my funds when I have open positions?
No, you will not be able to withdraw your funds when you have positions open. All positions will need to be closed in order to withdraw funds.
My position automatically closed, why is that?
Your trade will have been closed automatically due to your equity / margin level. This means that when your balance reaches a certain % the trades will close to stop your account going into negative equity.
Can I lose more than my account balance?
In short, no. The trades will close out with the margin if it reaches a certain level, meaning you can never lose more than your account balance.
What is the lowest volume I can trade?
The minimum trading volume you can trade is 0.01 lots.
What hours can I trade between?
You are able to trade 24/7. Forex markets close Friday at 10pm and re-open Sunday at 10pm. However, other markets such as cryptocurrencies are open over the weekends.
My pending order is not showing anymore, why is that?
The order will have been deleted due to there not being enough free margin in the account required to open the trade.
Can I still trade forex when news is being released?
Yes, but trading the news during major economic news releases can be highly volatile and risky, requiring caution and risk management.
What is rollover or swap fees?
Rollover or swap refers to the interest paid or received for holding positions overnight in Forex trading, based on the interest rate differentials between the currencies in the pair.
What is slippage?
Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed, often occurring during periods of high volatility.
What type of orders am I able to place?
You are able to place instant execution, sell limit or buy limit orders on your metatrader 5 app.
How do I zoom in or out on the charts?
Zoom in or out by pinching your fingers together across your phone screen (same way the zoom functions work on your iPhone).
Can I use EAs on the Metatrader 5 iPhone app?
Unfortunately on the iphone app you can’t, however on the web app it can be used.
How do I sign into my account on Metatrader 5?
Go to the ‘settings’ tab, click ‘new account’. Then search for the server which is on the email from Kudotrade when you created your account. Select the appropriate server, then enter your login number and password (will also be on the email from Kudotrade), then click ‘sign in’.
How do I sign into my account on Metatrader 5?
Go to the ‘settings’ tab, click ‘new account’. Then search for the server which is on the email from Kudotrade when you created your account. Select the appropriate server, then enter your login number and password (will also be on the email from Kudotrade), then click ‘sign in’.
How do I close a trade on the Metatrader 5 app?
Go to the ‘trade’ tab, hold down the position you would like to close and click ‘close’. It will then show on the ‘history’ tab.
How do I modify a trade on Metatrader 5?
Find the trade you would like to modify on the ‘trade’ tab, hold down the position and select ‘modify’. You can then change the stop loss or take profit on the trade.
How can I execute a trade on Metatrader
Select the instrument you would like to trade from your ‘quotes’ tab, you will then be prompted to enter the lot size you would like to use and the execution type. You can also add a stop loss or take profit, then confirm your order by pressing Buy or Sell.
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