Is Sterling Gent Trading Ltd. (SGT) licenced and regulated?
Yes. We are licenced, authorised, and regulated by the FSC under the Securities and Investment Business Act, 2010. Our Licence number is SIBA/L/11/0987.
How long have you been in business?
We have been in business since 2006.
Why are your forex spreads so tight?
Multiple bank and non-bank liquidity providers offer 24-hour pricing to our advanced price engine. These liquidity providers include the world’s largest foreign exchange banks and other market participants from the global FX marketplace.
How do you earn revenue if you are not managing risk?
With our direct account we have slightly marked-up the spreads that we have aggregated from our liquidity providers, and this mark-up represents our revenue. Even with this slight mark-up, you will note that our spreads are extremely competitive, reflecting both the depth and diversity of our liquidity. Our Prime account offers raw spreads aggregated from our Liquidity Providers and the clients pay a small commission to access these spreads.
How much liquidity have you aggregated?
With more liquidity providers, we have one of the deepest and most unique pools of liquidity in the world, resulting in some of the tightest FX spreads in the market. Our “top of the book” liquidity is measured in the millions of dollars on both the bid and offer sides.
How unique is your liquidity?
We are very confident that we have one of the most unique pools of liquidity in the global FX marketplace. Many of your larger electronic communications networks (ECNs) that aggregate liquidity from multiple sources simply repackage and rebrand the same liquidity from Euromoney-ranked banks. While our clients can access this same rebranded liquidity through our relationships, they really benefit the most from our unique set of liquidity that they do not see on other electronic trading venues and platforms. The best evidence of this can be seen in our spreads.
How do we know your liquidity is unique?
Simply compare our fully tradable price feed to the price feeds of other ECNs, brokers, and electronic trading venues. Our spreads are simply tighter because we have added many sizable, non-traditional liquidity providers.
What instruments can I trade with you?
We offer Forex trading in more than 60 spot currency pairs including the majors and the crosses. We also offer trading in spot metals including Gold and Silver and we offer trading in Contracts for Difference (CFDs) including Equity Indices and energy products such as Crude Oil. At the present time, our clients can trade more than 90+ instruments with us electronically.
Why are your spreads in Gold and Silver so tight?
We have assembled more liquidity providers that specialize in providing metals liquidity, and this is reflected in our ultra-tight spreads in Gold and Silver. We offer Direct Market Access and order routing to the spot Gold and spot Silver markets. The variable spread in our spot Gold instrument is oftentimes below US$ 0.20, something that is only achievable as a result of the significant amount of metals liquidity that we have made available.
Are my funds secure?
Yes, we custody our clients’ funds at some of the largest and strongest financial institutions in the world, as measured by total assets and credit ratings. We do not commingle our company’s operating funds with our clients’ trading equity.
How do I open a free Demo account?
Please click here and follow the instructions. Demo accounts are valid for about 30 days.
How do I open a Live account?
Please click here and follow the instructions. It only takes a couple of minutes to apply for a Live account.
Where can I review the legal documents that I must read before I apply for a trading account?
We have conveniently listed account-related documentation here.
Why do you require a copy of my photographic identification?
Sterling Gent Trading Ltd. adheres to best international practices designed to prevent money laundering, terrorist financing, and transactions with sanctioned entities. It is our responsibility to make sure we do our part to help maintain the integrity of the international financial system.
What software do you offer?
We offer the world’s most popular FX trading platform, MetaTrader 4, as well as other trading platforms and SGTMarkets FIX API. Please learn more about MT4 and our trading platforms: see the menu above, under Platforms.
Where is your MetaTrader 4 server hosted?
We have chosen a facility in London LD4 as the optimal location for our colocation. This facility’s proximity to the largest and most liquid FX trading market in the world serves our clients well by contributing to our ultra-low latent trading environment.
Can I trade my Expert Advisors on your MetaTrader 4 platform?
Yes, we welcome all Expert Advisors on our MetaTrader 4 platform.
Are scalping and hedging permitted?
Yes, scalping, hedging, and all other trading strategies are welcome.
What is the minimum required to open a new account?
The minimum required to open a new Prime is US$ 1000.00 or Direct account is US$ 500.00 on the MT4 platform. For an SGT Start up account the minimum deposit is $50.00 or EUR 50.00.
How do I send funds to my trading account?
There are several ways to transfer funds to your trading account including bank wire transfer, credit card, Skrill, etc. Please see our Funding-Withdrawal page for details. If you wish to fund your trading account via a bank wire transfer, we will be pleased to provide you with the remittance instructions after receiving your trading account application.
How do I withdraw funds from my account?
Please login to your Client Area , select a Withdrawal Option and follow the online instructions. Withdrawal requests are typically processed within two business days of receipt. For assistance please email firstname.lastname@example.org
How do I contact Sterling Gent Trading Ltd.?
Please visit our Contact page for full details about how to contact us via Live Chat, e-mail, facsimile, telephone, and more.
What margin levels and leverage does SGT Markets offer?
SGT Markets’ default margin requirement is 100:1 leverage. We also offer other leverage rates up to a maximum of 400:1, and you can specify your desired leverage when applying for your free Demo account. Please contact us should you require a different margin setting in your Live account.
How is margin level calculated?
Margin is calculated two ways: Used Margin and Free Margin. Used margin is the amount of money used to hold open positions. Free margin is the amount of funds available to place additional positions. The Margin level is calculated by dividing the current equity in an account by the current amount of margin in use (used margin). After dividing the equity by the margin move the decimal two places to the right. A trader whose equity is at $10,000 and who is using a $5,000 of margin would divide 10,000 by 5,000 which of course equals 2. Then move the decimal two places to the right. Thus, the current margin level or percentage is 200%. At a 100% margin level a trader is essentially using his entire available margin. (See formula below).
Margin Level Calculation % = Equity*/ Used Margin
* (Account balance considering ALL open positions)
What are SGT Markets trading conditions?
Margin call 70%
Stop out level 50%
When will a margin call get triggered?
SGT Market’s MetaTrader 4 will trigger a margin call when the account’s Margin Level reaches 70%, meaning the account has no more usable equity to keep the position open. The margin level can be found on the Trade tab in the SGT MetaTrader 4 terminal. When a margin call occurs, MetaTrader 4 automatically closes all open positions. It is the account holder’s responsibility to make sure the trading account remains adequately and sufficiently capitalized at all times, and we encourage clients to maintain a surplus equity balance in their SGT trading account in case the market moves further against their positions than anticipated.
Margin Call is literally a Warning that your account has slipped past the required margin in %, and that there is not enough equity (floating profits – floating losses + unused balance) on the account to support your Open trades any further.
Stop Out level is also a certain required margin level in %, at which a the MT4 will start to automatically close trading positions (starting from the least profitable position and until the margin level requirement is met) in order to prevent further account losses into the negative territory – below 0 USD.
Margin Call” vs “Stop Out level”
When a Margin Call = 70% and Stop Out level = 50%, this means that once your Account Equity = Required margin x 70% you’ll get a Margin Call in the form of a Warning.
When your Account Equity = Required margin x 50% your trades will be closed automatically starting from the least profitable one.
Required Margin = (Market Quote for the pair * Lots) / Leverage.
Example: You want to open 0.1 lot (10 000 base currency) lots of EUR/USD at the current market quote of 1.1500 and with a leverage level of 1:400
Required Margin = (1.1500 * 10 000) / 400 = $28.75
Margin Call = Account equity has become equal to required margin.
Account equity = available not used in trade funds + floating profits from still open trades – floating losses from still open trades
What is the best way to avoid margin calls?
Like all investments, trading Forex and other leveraged products like Contracts for Difference (CFDs) is speculative. Traders are not required to post the full financial value of the products they are trading, meaning they can trade on leverage and control a position that is typically a multiple of the value of equity in their trading account. One way traders can avoid margin calls is to make sure their accounts are adequately and sufficiently capitalized so that they can withstand adverse market moves. Another way traders can avoid margin calls is to use stops and limits when trading to best manage market risk. Stop orders and limit orders can help reduce the amount of risk that traders incur when opening and closing trading positions.
Can I lose more money than I deposit?
No, that is why we have minimum margin requirements in place. Despite the fact that it is theoretically possible for an account to incur a negative balance during a sizable adverse move, SGT Markets would adjust the account equity back to US$ 0 were that unlikely scenario to take place.
What is a Contract for Difference (CFD)?
Contracts for Difference (CFDs) are arrangements between two parties to compensate the value difference of a contract, comparing opening and closing prices. A CFD is a financial derivative product that allows you to trade on the movements of an underlying security, whether it is an index or commodity, without actually owning the individual security. It is effectively an agreement between two parties to exchange the difference between the opening and closing value of the security. As a result, there are no exchange fees or settlement fees for the purchasing or selling of a CFD security. CFDs are specialised and popular over-the-counter (OTC) financial products that allow traders to easily take market positions in a variety of different financial markets and asset classes.
Which CFDs can we trade in a SGT MT4 Direct, Prime trading account?
In addition to being able to trade more than 60+ spot Forex currency pairs, we offer trading in Gold, Silver, many Equity Indices, and energy products including Crude Oil. We have chosen to offer trading in these instruments because they are among the most liquidity trading instruments in the world.
What lot sizes does SGT Markets offer?
The SGT Markets MT4 only lets you trade in lots, also known as volume. Where one lot is 100,000 base units, mini lots are 0.1 of a lot equal to 10,000 base units and micro lots are 0.01 lots equal to 1,000 base units. You can place any size trade from your MT4 interface from 0.01 lots (1,000 base units) to 50 lots (5 million base units). Please visit our Contract Specifications page to learn more.
Lot size examples in currency:
1 lot = 100,000 notional trading units (known as a standard lot)
0.1 lots = 10,000 notional trading units (known as a mini lot)
0.01 lots = 1,000 notional trading units (known as a micro lot)
E.g. if you execute 1 lot of EUR/USD, then your exposure is 100,000 EUR/USD.
If you execute 2.5 lots of GBP/USD, your exposure is 250,000 GBP/USD.
Where can I learn about Contract Specifications?
Please visit our Contract Specifications page to learn about our tradable instruments, tick values, contract sizes, trading days, trading hours, financing charges, and other information.
What is the maximum trade size on MT4?
The maximum trade size on SGT Market’s MetaTrader 4 platform is a volume of 50.0 lots or 5 million notional trading units in FX. The MT4 platform has limitations that are designed to prevent it from incorporating partial fills, and this is why there is a maximum trading limit to help reduce the number of rejections when placing larger orders. Please contact us if you would like to trade larger position sizes and we will be pleased to assist you.
What is the minimum trade size on MT4?
The minimum trade size on SGT Market’s MetaTrader 4 is a volume of 0.01 lots or 1,000 notional trading units.
Why must I pay interest and/or when do I get interest and who determines the amount of the interest?
Please visit our Contract Specifications page to learn about financing charges. FX, Metals and Equity Indices positions that are held past 17:00 PM New York time will incur either a debit or credit to the account based on the client’s exact position and the interest rate differential between the two applicable currencies. The amount is automatically calculated and applied directly to the equity in your trading account. For further information please review Product schedule and Business conditions.
Will my orders be requoted like I experience at other brokers?
No, SGT Market’s primary responsibility is to make sure clients’ orders are matched with the best bids and offers provided by our multiple liquidity providers. If you experience requotes at other trading venues, it is typically because they are market-makers and their price feeds may not be accurate. In contrast, our price feeds are directly from our multiple liquidity providers and these are the prices at which your orders are executed in the interbank market.
Does SGT Markets offer VPS?
Yes, we do. In order to start using VPS, we would require both a USD 5,000 minimum deposit ánd 30 lots in the first month. So if the total lot size of trades generated in the first month is 30, and the first deposit was USD 5,000 or more, the trader is eligible for free VPS. See the above VPS tab for further information.
Why was my Live account deleted?
Any Live account not funded after 3 months, will be deleted from the system. However, your client details are kept on file. After sending a recent copy of a utility bill or bank statement, not older than 3 months, we can open a new Live account for you.
Where in my account can I select the instruments I wish to trade?
The first time you log into your account, please go to the Market Watch window and right click anywhere in the window. A drop down box will appear and you have the ability to select the instruments you wish to view. The most popular setting is the “Show All”, which will populate the Market Watch window with all of our instruments. You will also notice 6 Forex instruments (EURUSDcon, GBPUSDcon, USDJPYcon, USDCHFcon, USDHKDcon and AUDUSDcon) known as conversion rates for CFD trading Profit and Loss calculations: these are non-tradable instruments and will be greyed out.
What is 3D secure payment?
3-D Secure technology consists of the programs Verified by Visa and MasterCard SecureCode. After you enter your credit card details during the deposit process, a new window will appear, requesting your personal security code. Your financial institution will authenticate the transaction within seconds, as well as confirm that you are the individual making the purchase. If you haven’t yet registered with Verified by Visa or MasterCard SecureCode, you will need to activate this feature first. You can do this during the deposit process, or activate it in advance through your credit card issuing bank.
What are Overnight Swap Fees on FX and Precious Metals
A swap charge is determined based on the interest rates of the countries involved in each currency pair and whether the position is short or long. In any one currency pair, the interest is paid on the currency sold and received on the currency bought.
Swap charges are released weekly by the financial institutions we work with and are calculated based on market conditions. Each currency pair has its own swap charge and is measured on a standard size of 1.0 lot (100,000 base units).