Wallets and Trading Accounts Explained

On Headway, you store your deposits in a trading account or a wallet. Learn the difference between the two and how to use them for profit.

A trading account is an account used for trading (real/demo; Cent, Standard and Pro). When you deposit your trading account, the funds are available for trading right away. You use them to open new positions and support the margin level.

A wallet is a feature working like a buffer between the traders’ deposit and trading account. It protects money from exposure to the market. While your deposit is in the wallet, it can’t be affected by your open positions. You can quickly transfer money from your wallet to an account whenever you need to.

Let’s repeat: You use trading accounts to trade and wallets to protect your deposits from market exposure.

In comparison to trading accounts, wallets introduce a wider range of local currencies available for displaying your current balance. 

You can open a trading account in the following four currencies if your country is:

Any country – USD, EUR, and USC (i.e. USD cent account) Account Currency, 

  Indonesia – IDR Account Currency,

Thailand – THB Account Currency,

Japan – JPY Account Currency.

You can also open a wallet and deposit the following nine local currencies: 

USD - United States Dollar

EUR - Euro

JPY - Japanese Yen 

MYR - Malaysian Ringgit

THB - Thai Baht

IDR - Indonesian Rupiah

 VND - Vietnamese Dong

PHP - Philippine Peso

IB USD (for Partners) 

After you sign up on Headway, a USD wallet is created by default for all countries (except Indonesia). In Indonesia, an IDR wallet is created by default. You can have one wallet in each currency. 

A wallet is your money management tool. It helps you to distribute your funds between multiple trading accounts and collect your profits in one place. 

To make a withdrawal, you can transfer the profits from trading accounts to the wallet and send a withdrawal request, or withdraw directly from your trading account.