A wallet is used as a connecting account between trading accounts and clients' external funds (held on bank accounts, cards, etc).
There are several advantages to using a wallet, in terms of client funding:
- Withdrawals are only possible from a Wallet. Select “Transfer” to move funds from your Trading Account to your Wallet, then proceed to withdraw the money from your Wallet to an external payment system.
- Instant transfers within one operating company: This feature can be especially helpful in the event of a margin call. If you decide to move funds to your Trading Account swiftly, simply select "Transfer".
- Funds deposited into a wallet are completely protected from any open positions held on the trading account (Compared to directly funding a trading account).
- Funds can be stored in various currencies (A currency can be added or deleted via the "Show more" button).
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