Frequently Asked Questions

For the Most Part…. The Answer Is:

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Will I love trading at Mt.Cook?

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More In Detail

We believe that the best trader is an informed one so here are some more detailed answers for our most common questions. If you can’t find your question/answer on this page, please do not hesitate to contact us at any time.

WHERE CAN I SEE YOUR DETAILED TRADING CONDITIONS?
These can all be found on our Trading Conditions page found here: http://mtcookfinancial.com/trade/conditions/.
WHAT KIND OF ENTITIES CAN OPEN ACCOUNTS AT MT.COOK?
Natural persons of course, but the following legal entities are also accepted: corporations, partnerships, trusts, foundations, Super Annuation and other forms of pensions, funds, joint applicants.
DO YOU ACCEPT CLIENTS FROM ALL COUNTRIES?
For the most part – YES! However, there are some countries which are restricted according to Mt.Cook’s compliance protocol. These are primarily the OFAC Sanctioned Countries.

In addition to this, Mt.Cook may reject an applicant from any jurisdiction at their sole discretion without the requirement to explain the reason why.

DO YOU ACCEPT AMERICAN CLIENTS?
Under the US Dodd-Frank Act, unfortunately Mt.Cook cannot accept “retail” US resident clients. Clients resident in the US, who qualify as an ECP (Eligible Contract Participant) may be accepted as applicants under certain circumstances. An ECP is essentially a “high net worth” or “sophisticated investor”. Full details of an ECP qualifications can be found here.
ARE YOU CONSIDERED A RETAIL OR INSTITUTIONAL BROKERAGE?
This answer is rather enigmatic, but we are sort of both and neither. Our DMA feed is one of the only places in the world where a trader with a  “retail” classification (i.e., non-institution) could access it. Yet we do not draw a distinct line in the sand to separate what type of client we accept. Rather, we have made a choice to work exclusively with Forex PROFESSIONALS. We are very protective of our feed and do not want the encumbrances associated with taking on “hobby” traders. We are content with growing by way of referrals from strategic partners, industry professionals and/or existing like minded clients.
WHAT FUNDING METHODS ARE AVAILABLE?
You can fund your account via Bank Wire Transfer (telegraphic transfer) which is the most common option, and you can also fund your account via Neteller which is a 3rd party payment processor, in which Mt.Cook is an approved Merchant.
DO YOU HAVE A PARTNERSHIP PROGRAM?
Yes. Mt. Cook works with Qualified Money Managers, Introducing Brokers, Signal Providers and White Labels. Partnerships are our bread and butter and we pride ourselves on flexible and mutually beneficial collaborations. Contact us at partners@mtcookfinancial.com and let us know your plans.
IS MY PERSONAL INFORMATION SAFE AND PRIVATE WITH YOU?
We are firm advocates of respecting, practicing, and teaching privacy. All client information is stored digitally in an online encrypted secure storage vault, with backups stored in another private data facility as well. All information is kept 100% PRIVATE AND CONFIDENTIAL, unless Mt.Cook is otherwise forced by A) their regulators, or B) court order in our respective jurisdictions to divulge such information, or C) if a client is in any breach of our AML/CFT Regime.
DO YOU HAVE SAFEGUARDS TO PREVENT MONEY LAUNDERING?
MT.COOK does not tolerate money laundering and supports the fight against money launderers. MT.COOK is fully compliant with, and strictly follows the guidelines set by global international Anti-money Laundering and Countering Financing of Terrorism Acts. An overview of our AML programme can be found here.
HOW DO I MANAGE MY ACCOUNT AFTER IT IS OPEN?
Full details for complete account management (i.e., opening new accounts, closing accounts, transferring between accounts, changing leverages or platforms or currencies, funding, withdrawing etc etc…) are all outlined in your client welcome package.
WHAT ARE THE COSTS FOR FUNDING AND WITHDRAWING?
There are no costs for funding your account other than the costs imposed by any sending and receiving banks (and intermediary banks) or payment processors. For outgoing bank wire transfers, there is a fixed fee of $25.00 USD or equivalent in other currency.
HOW TIGHT ARE YOUR SPREADS?
Quite tight. In fact very few FCMs match our NET cost to clients (i.e., the “all in cost” of our spreads plus our round turn transactional cost). We configure our book to be an optimal mix of pricing and depth. Our spreads are widest during the roll over hour (5pm – 6pm EST) and sometimes during the early Asian session. They are the tightest during the high volume sessions. We obtain extremely competitive pricing due to our liquidity relationships.
HOW IMPORTANT IS IT TO HAVE TIGHT SPREADS?
To some it is very important. To others, much less. It depends on your trading strategy. If for example you are an algo trader looking to capture 1-2 pips as your target profits, then spreads significantly matter. However, traders going for bigger pips, (and especially traders placing larger orders) care much less about spreads and more about market depth. Our spreads and pricing are configurable, based on the depth we back them with. As such, given that our target client base is largely professional traders we look to have a good combination of tight pricing and sufficient market depth.
HOW DO I GET TECHNICAL SUPPORT IF I NEED IT?
This is all outlined in our client welcome package. Please follow the protocol closely for the most efficient technical support.
WHICH SYMBOL SETS DO I TRADE ON?
For metatrader users – unless otherwise specified, the symbol sets to trade on for FX and metals are the “pro” symbols (i.e., EURUSDpro, XAUUSDpro etc…). The symbols to trade CFD-Indicies and CFD-Futures on are the symbols with no extensions (i.e., US500, USOil etc…).

To view these all, right click on any symbol in the Market Watch window, and click “Show All”. Alternatively you can choose the View menu at the top, and then choose “Symbols”. From here you can select which symbols to show or hide in the market watch.

WHY DID YOU START MT.COOK?
This is too complex to answer in a simple FAQ. But essentially Mt. Cook is our response to the broker-related frustrations we felt as Asset Managers. We experienced an FX marketplace that in many ways was “broken” or headed in the wrong direction in terms of how it managed Forex Professionals; so we decided to do something about it. Please read Our Story on how we ended up here, and Filling the Void on what we are trying to accomplish.