FAQ

1. What do the terms "bid/ask" and "spread" mean?

Ask is the lowest price acceptable to the buyer of the particular currency at the moment; Bid is the highest price that the seller is offering for that currency. Together, the two prices constitute a quotation; the difference between the two is the spread.

2. What is the difference between Demo and Live Trading?

Demo trading is a great place to acquire practice placing orders and to get acquainted to the speed and reactions of the market. You should only start to trade on the Live platform when you feel completely comfortable managing your money in the demo account. The main benefit of a demo account is that you can make mistakes on it without costing your real money.

3. Am I allowed to participate in the Demo Trading Contest if I already have a Live Trading Account with ECN Trade?

Yes, live trading account holders can participate.

4. How do I withdraw money from my account?

Withdrawing funds from an account is a simple process. Download the Withdrawal Request form, fill out all applicable areas and mail it to support_au@ecnfxtrade.com. Your request should be processed within 2 New York business days of ECN's receiving your Withdrawal Request form.

5. Why do I have two passwords for my account?

Please note that the password is case sensitive .The real password only allow you to place an order. The read password, on the other hand, will only allow access to your trading account.

6. Why is the price quoted I see on a Reuters or Bloomberg screen sometimes different from the one on your screen?

The prices you see on Reuters or Bloomberg screens are quotes supplied for information only. Even the prices you see at other banks and market makers are not necessarily indicative of ECN's prices, The prices you see on our Dealing Rates screen are dealing prices, i.e. the prices at which our Desk is at that moment prepared to deal.

7 .What happens if the rate changes at the very moment your order was entered?

In the event that you submit a market order and the rate changes before your order is received, the ECN Trade technology (demo accounts) and/or dealers (live trading) will return the current market price to you, in the Open Orders box, for you to decide whether or not you'd like to resubmit this order. On average, you will have about 20-30 seconds to reply; otherwise, the order will vanish from your screen. If you wish to manually cancel the new order, simply click on the order and confirm your desire to cancel. If you wish to resubmit the new market order, simply click on the price and confirm your desire to resubmit that order.

8. What's the third party?

When doing operation to ECN exchanging account, the aimed bank account name is different from account name of ECN.D, which will be considered as remitting or drawing money by the third party. All below situations are included (not confined):

• The bank account name is different from the ECN account name.
• Using one company account to input money into ECN individual account.
• The check endorser name used by remitting money is different from the ECN account name.

In order to follow the International anti money-washing pact, at any time, ECN will never ever accept the remittance or drawing money by the third party.

9. What's the best way to open account?

It will be safe and quick to open account on the internet, only 15 minutes, your requirement will be finished.