Questions and answers
Payments FAQ
1. What is the minimum deposit?
The minimum deposit depends on the account type:

  • Cent: 10 USD or equivalent in the account currency.
  • Standart: 100 USD or equivalent in the account currency.
    2. How can I deposit funds to my account?
    You can deposit funds to your account using any payment system available in your Members Area.

    1. Go to "Deposit Funds" page.
    2. Choose the account to deposit funds to from the dropdown list.
    3. Choose the payment system.
    4. Specify the amount and the currency
    5. Click "Deposit funds".

    After that, there will be the second step of the depositing procedure, where you may be asked to specify some additional information according to the requirements of the chosen payment system.

    In case of any questions at any step of the depositing procedure, please contact our Live Support.
    3. How can I withdraw funds from my trading account?
    You can withdraw funds from your account in your Members Area. To do this:

    1. Go to "Withdrawal of Funds".
    2. Make sure that the active account in your Members Area is the one you want to withdraw funds from.
    3. Choose the payment system from the list of available withdrawal options.
    4. Click "Go to".
    5. Create the appropriate "Ticket" for the withdrawal of funds according to the bank details

    Depending on the chosen payment system, you may be asked to specify some additional information on the next page to create a withdrawal application.

    Please note that withdrawal applications are processed by the Company within seven business days from 9:00 AM to 6:00 PM (EET).

    In case of any questions at any step of the withdrawal procedure, please contact our Live Support.

    4. What is the company's commission for withdrawal of funds?
    The Webears takes no commission for the withdrawal of funds. Commission may be taken by your bank or other payment systems.

    The actual fees for withdrawing funds are indicated on the information resources of payment systems.
    5. Can I top up my account in cash at the company's office?
    The company does not have any physical offices or representative offices
    Verification
    1. What is the complete verification and what is it for?
    Verification is a documentary confirmation of your personal information.

    The main purpose of verification is to increase the safety level of your funds and Live Account. In addition to that, verified clients get an access to several additional services. To pass the verification, you have to go through two stages: verify your identity (documentary confirmation of your identity) and address (documentary confirmation of your actual residence address).

      2. How to verify the identity?
      To verify the identity, you have to fill in a special form in your Members Area and attach a digital copy of the document confirming your identity to it. Please note that you are allowed to verify your identity not only using your passport, but other personal documents as well.

      You can read the complete list of documents and requirements for verification in your Members Area.

      3. How do I pass the address verification?
      To verify your address, you have to fill in a special form in your Members Area and attach a scanned copy of the document.

      You can read the complete list of documents and requirements for verification in your Members Area.
      4. How much time does the verification take?
      The complete verification takes 2 business days.
      5. What do I do if I don't have any scanned images of my documents?
      Apart from scanners, documents for passing the verification can be captured by means of:

      • Photo camera
      • Web camera
      • Mobile phone

      The most important thing is that the digital copy of the document could provide a clear vision of all required information.

      You can read the complete list of documents and requirements for verification in your Members Area.

      6. How do you ensure security of my personal information?
      Our Company implements a modern SSL (Secure Sockets Layer) technology, which is used to guarantee the safety of the information you provide. The SSL technology provides reliable protection and prevents your personal information from being accessed and stolen by the third parties. We're constantly improving our safety technologies in order to avoid illegal infiltration into the system and eliminate any unauthorized access to our database.

      More detailed information about security of your funds and personal information can be found on "Privacy Policy" and "Security of your money" pages of our website.


      7. What do I do in case I don't receive SMS with the confirmation code?
      SMS with the confirmation code is usually delivered in several minutes, but sometimes this process may take up to 10-15 minutes. If you don't receive the message for a longer period, a confirmation will be sent to the specified email address
      Account Opening FAQ
      1. How do I open a trading account?
      A new trading account at Webears can be opened in few simple steps:

      1. Register Members Area. Members Area is a cyberspace for managing your accounts, funds, and investments.
      2. Go to "Trade account" page in the first section of your Members Area.
      3. Choose suitable parameters and the type for your new account.
      4. Click "Confirm".

      Detailed descriptions of account types available at the Company can be found on "Trading accounts" page.

      In addition to that, we've created detailed instructions for our newly-registered clients when they open a trading account on how to choose parameters that are the best fit to the their trading experience and style. These instructions can be found on "How to open an account" page.

      2. Why do I need a demo-account?
      Demo accounts are usually used in three cases:

      • If you are a beginner and want to learn basics of trading on financial markets without risking to lose your own money.
      • When you want to test the conditions provided by the broker before opening a real account.
      • In case of testing your new trading strategy or EA.

      After performing all necessary operations on a Demo account, you can start trading on a real account.
      Technical support FAQ
      1. How to connect to my account in the terminal?
      These instructions are applicable for connection to your accounts in MetaTrader 5 terminals, as well as their mobile applications designed by MetaQuotes.

      Connecting to the desktop version of MetaTrader 5

      • In the main menu bar of the terminal, choose "File" and then "Login to trade account".
      • In the pop-up window, enter the number of your trading account ("Login") and the password you received after the registration. Be careful and do not confuse your trading account password with Members Area password.
      • In the "Server" field, choose the server for your account type and click "Login".
      • In order to save account information and not to enter it next time you login, tick the "Save account information" box.
      • If the entered information is correct, the indicator in the bottom right hand corner will turn green-red.

      Connecting to the mobile version of MetaTrader 5 for iOS

      • Go to the "Settings" tab (the icon with a "+" sign) and select "New Account".
      • Next, use the "Login to an existing account" menu item.
      • In the list of servers, find the desired one, enter your account number and password, if you want tick the "Save password" box.

      Connecting to the mobile version of MetaTrader 5 for Android

      • Select "Manage Accounts" in the sidebar.
      • Click on the "+" sign in the upper right corner of the screen and go to the "Login to an existing account" section.
      • In the list of servers, find the desired one, enter your account number and password, if you want tick the "Save password" box.

      If you're not able to connect to your account using the ways described above or the terminal says "Invalid account", use our instructions for solving the problem or contact our Live Support.
        2. How do I install a terminal on my computer?
        1. Download the setup file of the chosen platform from "Download Center" in your Members Area.
        2. Run the file and follow the instructions.

        In case of any problems during the installation procedure, please contact our Live Support.
        3. What to do if the terminal says "No connection"?
        Possible reasons of "No connection" may be either poor Internet connection or problems with the server.

        To solve the problem, try to do the following:

        1. Check if your Internet connection is stable and good.
        2. If it is, try to rescan servers. Left-click on the "No connection" message in the bottom right corner of the terminal and choose "Rescan servers".
        3. If rescanning didn't help, re-login to your account in the terminal's main menu.

        If none of the above steps resolved the issue, please contact our Live Support in any way that is convenient for you.
        Trading FAQ
        1. Why was the position closed at the price, which was not on the chart?
        By default, the charts of trading instruments in the trading terminal show the Bid price, but not all positions are closed at this price.

        Long positions (Buy) are opened at the Ask price and closed at the Bid price. Short positions (Sell), in their turn, are opened at the Bid price and closed at the Ask price.

        As a result, on the chart you can see only the Bid price, at which your long (Buy) positions are closed.

        It can be easily changed by enabling the Ask line in chart settings.
          2. Why was the order closed without my participation?
          Your order could have been closed due to one of the following reasons:

          1. Margin level on your trading account reached Stop Out value (current Stop Out values for every account type can be found on "Account types" page).
          2. The asset price reached Stop Loss or Take Profit.
          3. Trailing Stop of your position worked.
          3. How do I open a position?
          Positions in trading terminals can be opened in several ways. The most common of them is the following:

          1. Choose the required instrument in the panel with quotes (or in other panel that displays instruments).
          2. Right-click the instrument ticker and choose "New order" from the dialog menu.
          3. Set order parameters (type, volume, Stop Loss and Take Profit levels).
          4. Choose the order direction (Buy or Sell) and click the corresponding button.

          Also, you can open a new position from the terminal's main menu or using "One-Click Trading".
          4. Why was the order not executed at the declared price?
          The following types of orders may be executed not at the declared price: Buy Stop, Sell Stop, and Stop Loss.

          When these orders are triggered, the system sends the Market order, which is executed at the current price at the time of the order processing. This is the reason why there might be differences between the price specified in the pending order and the execution price.

          Other types of pending orders, Buy Limit, Sell Limit, and Take Profit, are executed at the specified or better price, if such price exists on the market when they are executed.

          5. What is leverage?
          The leverage is a ratio between the trader's own funds and borrowed funds, which a trader borrows from his broker. 1:100 leverage means that for a transaction you must have a trading account with amount 100 times less than the sum of the transaction.

          Example: a trader chooses the 1:500 leverage and has 200 euros on his account. Leverage 1:500 allows him to buy a contract worth 100.000 euros.
          6. What is a lot?
          Lot is a unit of transactions in trades.
          7. How does the stop order work?
          A Stop order is a trigger, and when it is reached, a corresponding order Market or Limit is generated by the platform.

          There are two types of Stop orders:

          1. Stop Loss, Buy Stop, Sell Stop. When the asset price reaches the level specified in these order types, the system generates a Market order to buy or sell (Buy Stop, Sell Stop) or close the order to limit losses (Stop Loss).
          2. Stop-Limit. An order that combines features of Stop and Limit orders. When the asset price reaches the level specified in this order type, the system generates a Limit order at the price set by a trader when opening it.

          8. How is the profit on Forex calculated?
          When trading on the Forex market, you sell or buy financial instruments expecting their prices to fall or rise in the future.

          If, according to calculations, the price is going to rise, a trader opens a buy order. Otherwise, they open a sell order.

          The profit is the difference between the price, at which a trader buys or sells the chosen asset, and the price, at which the order is closed (minus spread and (or) the broker's commission).
          9. How is a Swap calculated?
          On Forex market, clients are charged with Rollover (Swap) charges for transiting the position over midnight. The amount of Swap depends on the difference between bank rates of the base currency and secondary currency in a currency pair. Swaps can have either positive or negative value.

          Webears swap rates are established in accordance with swap rates from our liquidity providers. Current swap rates for each trading instrument can be found in "Contract Specifications" section of our website.
          10. Why can I not sell at the weekend?
          At weekends, the Forex market is closed, just like other global stock exchanges.
          11. How risky are operations in Forex?
          Trading currencies, stocks, and other investment products is of the market nature and always involves significant risks. Because of sharp market fluctuations, you may both make much of your investments and completely lose them.

          You may manage the risks (the ratio of possible financial losses to profits) by using the leverage value, and specific types of orders (Stop Loss / Take Profit) or other available tools. You should always remember that the higher the leverage and possible profit, the higher the risk level.
          12. What types of pending orders are there?
          A pending order is the client's order to buy or sell a financial instrument at the specified price in the future.

          There are four types of pending orders:

          1. Buy Limit — to buy, when the future "Ask" price is equal to the specified value. The current price level is higher than the value of the placed order. Execution of this type of order means that the transaction will be made at the price specified in the order or at the price that is lower. Orders of this type are usually placed in anticipation that the instrument price, having fallen to a certain level, will increase.
          2. Buy Stop — to buy, when the future "Ask" price is equal to the specified value. The current price level is lower than the value of the placed order. Execution of this type of order means that the transaction will be made at the price existing at the moment when the order is executed, which may be different from the price specified in the order. Orders of this type are usually placed in anticipation that the instrument price, having reached a certain level, will keep increasing.
          3. Sell Limit — to sell, when the future "Bid" price is equal to the specified value. The current price level is lower than the value of the placed order. Execution of this type of order means that the transaction will be made at the price specified in the order or at the price that is higher. Orders of this type are usually placed in anticipation that the instrument price, having rising to a certain level, will decrease.
          4. Sell Stop — to sell, when the future "Bid" price is equal to the specified value. The current price level is higher than the value of the placed order. Execution of this type of order means that the transaction will be made at the price existing at the moment when the order is executed, which may be different from the price specified in the order. Orders of this type are usually placed in anticipation that the instrument price, having reached a certain level, will keep decreasing.

          Members Area
          1. How do I change the leverage?
          You can set the leverage when opening a new trading account in Members Area.
            2. Is it possible to change the currency of my account?
            No
            3. How do I change my account password?
            Select the "Settings" menu item in Members Area, then go to the "Change Account Password" page. To change your password, you will need to enter a new password and confirm it.
            4. How do I change my Members Area password?
            Select the "Settings" menu item in Members Area, then go to the "Safety" page. To change your password, you will need to enter a new password and confirm it.
            5. What do I do if I have entered incorrect information during the registration?
            To change the personal information specified in your Members Area, you have to contact our Live Support.
            6. I don't have access to my previous mobile phone number. How do I change it?
            To change the mobile phone number in those circumstances, you have to contact our Live Support.
            7. How can I change my E-mail address?
            To change your E-mail address, you have to contact our Live Support.
            8. What do I do in case I don't receive an email with the confirmation code?
            Contact our Live Support if you haven't received an email with the confirmation code or don't have access to the specified e-mail address.
            9. How do I register a Members Area?
            To register a new Members Area, you have to go to the registration page. Then enter your e-mail address, full name, mobile phone number, and click "Receive the confirmation code via SMS or E-mail". After receiving the code, enter it into the required field and login to your Members Area.
            10. What is a Members Area? What is it for?
            "Members Area" service is a convenient and safe way to manage your accounts. In your Members Area, you can open trading accounts, read detailed information about your operations, view or change the personal information specified during the registration, make internal transfer of funds between your accounts without any commission, find the information about promo offers, and watch our educational materials. More detailed information about the Area can be found on "Members Area" page.
            11. How to enable or disable mobile push-notifications?
            Management is carried out on the "Subscribes setting" page in Members Area. To enable or disable the newsletter, select the group of notifications you are interested in and click "Save".
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            Webears Ltd. a company organised under the laws of Saint Lucia, with its address at Rodney Bayside Building, Rodney Bay, Gros-Islet, Saint Lucia, registration number 2020-00167
            Risk disclaimer: Before trading, you should ensure that you've undergone sufficient preparation and fully understand the risks involved in margin trading.
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