How the service works

1. What the service is

COE runs one master account at TradeQuo, which the COE desk trades by hand. When you connect your own TradeQuo MT5 account, we run a MetaTrader 5 terminal for it on our trading server. That terminal copies every trade on the master account to your account, sized as section 4 explains.

The trades are in gold (XAUUSD). TradeQuo offers gold with leverage, so the risk is high. Read the Risk warning before you connect an account.

What COE is not:

• We do not give advice. Nothing on this website or from the desk is a personal recommendation, and nothing takes account of your circumstances.
• We do not promise any result. You can lose money, including all the money in your trading account.
• We are not your broker. Your account, your money and your trades are with TradeQuo.
• We never hold your money. It stays in your TradeQuo account, and you pay our share yourself (section 5).

2. The account you connect

• It must be a real MT5 hedging account at TradeQuo. COE does not copy to demo accounts or to netting accounts.
• You can connect one TradeQuo account to each COE account.

3. What the terminal does

Once your account is connected, the terminal places, changes and closes trades on it in line with the master account, until you pause or disconnect.

To do this it needs your MT5 trading password. We use it only to log your terminal in to TradeQuo. We store it encrypted, only the part of our server that runs the terminals can read it, and we delete it when you disconnect. MT5 cannot withdraw money: withdrawals are made in your TradeQuo client area.

Trades you place yourself are left alone. If you close or change a copied trade by hand, the terminal does not open it again.

4. How copied trades are sized

Each copy is the master's trade size multiplied by the ratio of your account's equity to the master's equity, converted into the master's currency where the two differ, and rounded to TradeQuo's nearest lot step. As either account grows or shrinks, the size of new copies changes with it.

On a small account, a copied trade below TradeQuo's minimum size is rounded up to that minimum, so the account carries more risk than its size suggests.

We do not copy to an account worth more than 25 times the master account's equity, which is about £250,000 today, measured in the master account's currency. Above that, new trades are not copied to your account until it is back within that size, and your overview says so. Copied trades that are already open are still managed. The limit is there because every copy is sized from the master's equity: if that figure were ever wrong, every copy would be the wrong size.

A copy is never larger than TradeQuo's maximum lot size for gold. A larger copy is placed at that maximum.

Copies follow the master within seconds, but prices, timing, costs and lot rounding mean your results will not match the master's exactly.

5. Our fee

Our fee is 25% of the net profit made by copied trades, charged only on profit above your previous best (a high-water mark). You keep the other 75%. If your split is different, it is shown in your Settings and on every statement.

• What counts. The realised profit or loss of copied trades, after TradeQuo's swap and commission. Trades you place yourself, deposits and withdrawals never count. Each deal counts on the day TradeQuo books it, as your MT5 history shows: a trade's profit when it closes, and its entry commission when it opens.
• Each trading day. We work the fee out after each trading day, a calendar day on TradeQuo's server clock, which is the clock your MT5 app shows. Your first trading day is the day your account starts copying. A day with no copied trades has no statement.
• The high-water mark. We keep a running total of the profit from copied trades since you joined. After each trading day our share is charged only on the part of that total above its highest previous day end. After a losing day nothing is charged until the loss has been made back. If you connect a different TradeQuo account, your running total and previous best carry over to it, unless it is in a different currency: a total cannot be carried across currencies, so that account starts from zero.

An example, in your account's currency:

After each trading day with copied trades, a statement appears under Profit share once all that day's trades have reached us, usually within about an hour. Payment is due within 24 hours after the trading day. If something delays a statement, so that it is issued later than the day after its trading day, payment is due within 24 hours after the day it is issued. A final statement when you disconnect (section 6) is due within 24 hours after the disconnect, or after the day it is issued if that is later. The statement shows the amount, the due date, the reference to quote and how to pay.

A statement not paid by its due date shows as overdue on your overview and under Profit share, and we may pause copying on your account until it is paid.

There is no other charge from COE. TradeQuo's own costs, such as spreads, commission and swap, are between you and TradeQuo.

6. Pausing and disconnecting

You can pause copying at any time in Settings. New trades are not copied and pending copied orders are cancelled. Copied trades that are already open are still managed until they close.

You can disconnect at any time in Settings. We cancel pending copied orders, stop your terminal and delete the trading password we stored. Copied trades that are open stay open in your account with their stop loss and take profit, and from then on they are yours to manage.

When you disconnect, the current trading day closes at once in a final statement, due within 24 hours. Copied trades still open at that moment are valued at the price then, before any commission TradeQuo charges when they close, and included.

That valuation stands, in either direction. A trade valued at a profit that then closes lower, or valued at a loss that then closes higher, does not change the statement. A copy valued on a final statement is counted at that valuation only: if you connect again and the terminal picks it up, it is not valued again, and its result is not counted again when it closes.

A final statement can wait. It stays open, and is issued under Profit share once we have finished it, for any of three reasons:

• Your terminal was not reporting. If it was not connected to TradeQuo, or had not reported to us in the two minutes before you disconnected (for example because TradeQuo had refused its login), or its report did not match our record of your open copies, we do not use its last figures, which may be out of date. We value the trades that were open instead.
• Old and new copies were open together. A copy from an earlier connection has already been valued, and the terminal reports one figure for every open copy, so we value the copies opened since this connection began.
• An earlier statement of yours is still open. Each statement starts from the running total of the one before it, so this one cannot be issued until that one has closed.

A final statement that waited is due within 24 hours of the day it is issued.

Disconnecting does not close your COE account. To close it, contact Hamilton on +44 7539 715331.

7. Interruptions and missed copies

COE depends on our server, the internet, MetaTrader 5 and TradeQuo. Any of them can fail or slow down. When that happens a trade can be copied late, at a different price or not at all, and a copied trade may not close when the master's does. If your terminal cannot trust the master's latest information it does nothing until it can, and a master trade that is more than five minutes old by then is not copied.

If something looks wrong, we may stop all copying at once. While that lasts nothing is copied, closes included. Copied trades keep the stop loss and take profit held at TradeQuo.

We do not promise that the service is always available or that every trade is copied. When something goes wrong we put it right as quickly as we reasonably can.

8. What to keep an eye on

• Check your account in your MT5 app, including its margin. Margin calls and stop outs are between you and TradeQuo.
• If you change your trading password at TradeQuo, enter the new one in Settings. Until you do, copying stops.
• Keep the sign-in for this website to yourself.
• Pay each statement by its due date.

9. Contact

To ask about any of this, contact Hamilton on +44 7539 715331. To make a complaint, see Complaints.