Frequently Asked Questions
What is a VPS and why do l need one when doing Automated Trading
A VPS, or Virtual Private Server, is a dedicated virtual space that provides traders with a stable and secure environment for automated forex trading. It ensures uninterrupted connectivity, faster execution of trades, and the ability to run trading algorithms 24/7. To delve deeper into the importance of having a VPS for forex trading, read more here.
If you're looking to acquire a VPS, you can explore your options here.
Why do l need to check the Economic News Calender Daily
We encourage you to check the news events so as for you to know what to expect in the market and don't be suprised of sudden price movements, We have filtered the most important news to look out for and you can access them here
Why do you Recommend Certain Brokers
Below are a few reasons as to why we recommend certain brokers:
- We have tested our software through their platforms and we know what you will get
- Our software is designed with specific requirements for accounts types mainly on leverage and spread
- It is of utmost importance to have the right settings while using our software in order to maximise on the profits, having the wrong settings or broker can lead to different negative results
Here are the 4 brokers we recommend :
- IC Markets (they have Zero spread accounts, they have both Ctrader platform and MT5 platform with accounts leverage of up to 1000)
- Deriv (they have Zero spread accounts, they have both Ctrader platform and MT5 platform with accounts leverage of up to 1000)
- Just Markets (they have Zero spread accounts, they have MT5 platform with accounts leverage of up to 3000)
- Exness (they have Zero spread accounts, they have MT5 platform with accounts leverage of up to unlimited)
Do l need to verify my account before trading
Most brokers offer a demo account that you can use to test the system and get used to the trading environment of which that does not require any verification. Mostly you can setup with just your email address.
However for live accounts when you are ready to trade and deposit funds your account will need to be verified, most brokers do a verification with your Government issued ID and Proof of address (Check on the prefered broker's website what they require)
Can l also Join the Affiliate marketing programme
You are very welcome to do a quick and easy application and we will review your application then notify you of the outcome.
What is the difference between Cbot and EA/Trading Robot
The primary difference between CBot in cTrader and Robots/Expert Advisors (EAs) in MT4/MT5 lies in the trading platforms they are associated with. CBot is specifically designed for cTrader, offering algorithmic trading capabilities within this platform. On the other hand, Robots or EAs are used in MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. While both CBot and EAs enable automated trading, they are platform-dependent, and their functionalities are tailored to the specific features and coding languages supported by cTrader and MetaTrader platforms, respectively. Each platform has its own strengths and weaknesses, and the choice between CBot and EAs often depends on the trader's preference, platform familiarity, and the specific features they require for algorithmic trading.
Can l use Ham Cye Scalping Cbot on my MT4/MT5 Platform
Ham Cye Scalping Cbot is currently only for Ctrader platforms , however we are working on making it available for other trading platforms also , do ensure to join our telegram channel to stay updated on new updates . Follow Our Telegram channel Here
Recommended Brokers offering Ctrader Platform
Which currency pairs can l trade using Ham Cye Scalping Cbot
At the moment we recommend only the GBPUSD as it provides the volatility we need and has given us better results
Which timeframe can l use to trade on the Ham Cye Scalping Cbot
We strictly recommend using the 1 minute timeframe only at the moment
Can l let the Ham Cye Scalping Cbot run during news Events
The Algorithm has been set in a way that it can handle news events , so you can choose to turn it off during news events or let it run
Can l trade all sessions with Ham Cye Scalping Cbot
We recommend you to stick to the London session only and we have set the Cbot to trade accordingly.
Can l use Ham Cye Scalping Cbot to trade with Prop Firms
At the moment unfortunately not becuase the daily drawdown can be reached however we are working on optimising the software so you can use it without worries. Stay tuned for updates