FAQs

Support Center

Frequently Asked Questions

SpireBitum does not have any minimum requirements for opening an account.

According to our company policy, an account is considered inactive if there is no trading activity, meaning no transactions have been made on the account. If a trade is made, even after a long period of inactivity, the account is automatically considered active.

The maximum number of accounts that can be opened is up to 3.

KYC Policy

For identity verification, you will need a colored copy of a valid passport or another official document that confirms your identity, such as a driver’s license, national identification card, and so on. The document must include your full name, issuance or expiration date, place of birth, personal identification number (if applicable), date of birth, and your signature. You will also need a recent utility bill (e.g., electricity, gas, water), phone bill, internet bill, or bank statement from the last three months to confirm your residential address.
As a regulated company, we adhere to specific procedures mandated by our primary regulatory body. These procedures include collecting relevant documents from clients as part of KYC (Know Your Client) requirements.

Yes, you can update some of your information yourself in the Trader’s Cabinet. For changes to KYC documents, please contact our customer support.

Deposits and Withdrawals

Our clients have access to a wide range of funding options. Our financial department will provide the most optimal method based on the amount and the client’s region of residence, including bank transfers, cryptocurrency transfers, debit/credit card payments, and electronic transfers.

The technical minimum deposit depends on the chosen funding method and starts from 10 USD. When deciding on your investment amount, consider the services provided and review available options under the “Account Types” tab.

The commission fees depend on the payment system you use. SpireBitum does not charge any fees for deposits.

According to AML (Anti-Money Laundering) policy, such transfers between trading accounts of different clients are not possible.

The processing time for deposits depends on the method you choose. Withdrawal requests are processed by the financial department within 48 hours. After processing, the time it takes for funds to reach you depends on the withdrawal method you select. For example, SWIFT transfers typically take 1 to 5 business days, SEPA transfers take 1 to 3 business days, and cryptocurrency transfers can take up to 2 hours.

Trading Account

To open a trading account, you need to log into the Trader’s Cabinet and click on the “Open Account” button.

After activating your trading account, you will have access to the trading terminal.

SpireBitum offers seven types of accounts. You can review the available options under the “Account Types” tab.

Yes, you have the option to open a corporate account.

Yes, you have the option to open an Islamic account.

Trading

A “Swap” is an agreement between two parties to exchange (swap) specified cash flows at predetermined intervals in the future. In other words, it’s a trading operation involving a series of conversion transactions.

The size of a trade refers to the size of the position you want to open, not the amount of funds you wish to use. This depends on the instrument.

Increasing leverage does not increase the percentage profit or loss. These parameters are solely influenced by the position size. With higher leverage, you can open larger positions, but it’s not always necessary. For example, a position of 1 lot on any instrument with leverage of 1:100 will yield the same profit/loss percentage as 1 lot on the same instrument with leverage of 1:500. However, higher leverage reduces your margin requirements, providing you with more available margin to open additional positions.

“Take-profit” is the closure of an earlier opened position at a price more advantageous to the client than the current price at the time of placing the order. When the desired profit level is achieved, the order will be closed.

“Margin Call” is a warning to traders when the balance of their account falls to a critical level. It means the account is only left with the required margin and you need to fund the account to avoid a Stop Out or forced closure situation.

“Stop-loss” is an order to close a previously opened position at a price less favorable to the client than the current price at the time of placing the order. Stop-loss acts as a limit point set in your order. Once this limit is reached, your order will be closed. This function is useful if you want to minimize your losses when the market moves against you. Stop-loss points are always set below the current ask price for buying or above the current bid price for selling.

Spread — это разница между ценой покупки и ценой продажи, т.е. то разница между лучшими ценами покупки (ценой «аск») и продажи (ценой «бид») в одно и то же времени на конкретную валютную пару. С нами Вы можете торговать широким спектром инструментов, с гибкими спредами. Это дает вам большую степень прозрачности цен по Вашей сделке.

Trailing Stop is a type of stop loss. It is set at a percentage level either below the market price (for long positions) or above the market price (for short positions).

Margin represents the percentage of the total trade size that the broker requires as a guarantee in order to allow the trader to open the position. This amount is not a fee or a transaction cost, it is simply a part of your account set aside collateral for the transaction. The margin requirement is determined by taking a percentage of the notional trade size and is determined by the broker in advance in the trading conditions.

Spot markets refer to markets dealing with the current price of financial instruments.

Slippage occurs when there is a gap in the market between prices or because the available liquidity at a given price has been exhausted. Market gaps usually occur in the fast moving markets where the price can jump a few points without trading prices in between. Likewise, each price has a certain amount of available liquidity. For example, if the price is at 50 and there is 1 million available at 50, then a 3 million order will get slippage because 3 million is more than the 1 million available at 50.