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FAQs

Forex Trading FAQs

Forex Trading FAQs

Frequently Asked Questions

This comprehensive Forex Trading FAQ covers all the basics of trading, as well as some of the more advanced topics. Beginners and advanced traders have both been kept in mind. If you need help with your GO Markets account and/or trading in general, please see our responses below.

If your questions have not been answered below, please feel free to contact our Support Team at any time.

General

GO Markets London Limited is an appointed representative (FCA reference number 779813) of Price Markets UK Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 725804.

Please use the following link to begin your live account application – open live account

CFD trading involves significant risk.

We aim to respond to all new account enquiries within a 24-hour period.

You can have one of the following: GBP, EUR, and USD.

Please refer to our Wallet page for the list of acceptable deposit methods and our withdrawal procedures.

We aim to process all withdrawal requests received before 1pm GMT on the same day. Those arriving after will be processed the following day. While it largely depends on the receiving bank you are using, in general, local transfers may take 1-2 business days, and international transfers may take 3-5 days for your funds to be reflected on your account balance.

The minimum deposit is £100 or equivalent in EUR or USD.

Please refer to our Wallet page for further details.

Please email support@gomarkets.co.uk and we will update your information for you. Please note that if you are updating your address details, we require a recent bank statement or utility bill which shows your new address.

You can change your password on MT4. Click on Tools > Options and look for Server tab.

There is a Change button you can click on to change your master or investor passwords.

Sure. You can call in on 020 3778 0640 (INT: +44 203 778 0640) or send your full name, date of birth and address to support@gomarkets.co.uk so that we can reset it. For security purposes, you will be required to provide some personal details to help verify your account.

No. CFTC regulation prevents US traders trading with non-US brokers.

Yes. There is also a MT4 app for Google Android and Apple iOS. You may search for MetaTrader 4 on either Google Play or Apple App Store.

To open a demo account, click here.

CFD trading involves significant risk.

Yes, you can reactivate an account with us. Please call 020 3778 0640 or send an email to support@gomarkets.co.uk to reactivate.

Trading

Margin is the amount of money required in your account in order to open a trade.

To calculate the FX margin requirement, you will require the following formula:

(Market quote * Volume) / Leverage = $Margin Requirement

Example

The current EURUSD price is quoted as 1.13729, and we would like to trade one standard lot (100,000) using an example account leverage of 1:100

The calculation would be (1.13729 * 100,000) / 100 = $1137.30 USD

Note: If the base currency of your account is not in USD, this amount can simply be converted into the corresponding currency EUR or GBP.

Since margin is essentially the collateral required in order to open a trade, if the market moves against a client’s position and your overall account equity is reduced, then you may not have sufficient funds available to maintain this position.

If your Equity (Balance – Open Profit/Loss) falls below 50% of the margin required to maintain an open position then the system will begin automatically closing the largest losing position in an attempt to increase your equity.

Our margin call and stop out levels are 80% and 50% respectively.

Your account leverage is the multiplier of your ability buy a larger volume of currency, and will determine how much margin is required for you to open a position.

Example

If you have leverage of 300:1, you can control a large position (£150,000) with a small amount of margin (£500).

Go to the Market Watch area, choose Symbols, and right click. Click on the Specifications for a particular trading symbol and it will give you all details including the swap rates.

If you hold a position overnight on a Wednesday, the financing (Swap) charge is multiplied by three (3) times. This accounts for the settlement of your open position(s) for the proceeding weekend. The financing charge is also affected by public holidays.

Overnight financing costs are applied during the New York close which equates to 00:00 platform time.

Take profit and stop losses are classed as pending orders. Unfortunately, it may not always be possible to fill these orders at the desired levels due to price volatility or unforeseen market events. Once triggered, pending orders then become market orders and are subjected to whatever market liquidity is available at that time.

Our pricing is derived from top tier liquidity providers who stream prices to our platform.

MT4 always uses Bid price to construct the chart in all available periods.

Our platform or chart time is set to GMT+3. It cannot be changed on your MT4.

The MT4 chart will display the BID price by default which is the (SELL) price. When you enter a short position, in order for you to close this trade you need to (BUY) or go long. Therefore, the ASK price or BUY price is required which is not reflected on the chart. Another way to think of this is the BID price or chart price plus the spread.

Yes. You can use EAs (Expert Advisors) available from third party providers. As GO Markets is not associated with any of these providers, we cannot provide additional support for these automated strategies and suggest you contact the source directly should you experience any difficulties related to settings or methodology.

The BID price is shown on the chart by default, to include an ASK line to display the current spread, please use the following steps:

Step One

Press F8 on the keyboard, select the “Common” tab and make sure the “Show Ask line” box is checked.

Step Two

Select the “Colors” tab and make sure the ASK line colour is something bright such as Aqua in the example below.

Step Three

You should then see something like this below with both the BID and ASK price displayed in the example below.

We have over 50 currency pairs on our platform and are still expanding the list from time to time.

The best way to find out is to setup a demo platform – try a demo account. It takes less than 5 minutes.

CFD trading involves significant risk.

Yes, you can trade 0.01 lots on Forex.

No, we do not prohibit any trading styles and you can open and close your positions as often as you like.

Slippage is a part of trading and is common. Slippage usually occurs when the volatility is high, which generally happens due to major news events.

Technical

Our demo accounts last for 30 days. You won’t be able to access your demo once it expires. If you need to extend your trial before opening a live account with us, you can always register for another demo account. To do so, simply click on File > Open an Account on our MT4 platform and follow the prompts.

Most of the time, it simply means the platform is not able to log you in. You can click on File > Login to Trade Account.

If you don’t see the full list of symbols on Market Watch, right click on one of the symbols, and click Show All.

Yes. We packaged a Mac version MT4 with WINE for our traders to use.

A daily statement is sent out if you have some trading activity on the previous day. You may also want to check your spam folder as sometimes they may be miscategorised by your email service provider. You can also consider adding our email address to your email whitelist.

On your account history, right click on the display area or one of the closed trades, select the period you want. Once the records show, right click again and select ‘Save as Report’.

Yes, MT4 platform supports multiple login simultaneously to the same account. So you can leave your desktop MT4 logged on and sign in using your mobile phone while you are away.

When you are running the installer, there is a Settings button on the same page of the licence agreement. Click on the button and rename the destination folder and continue. It will then install another copy of MT4 on your computer.

Click on File > Open Data Folder and open MQL4 folder. There are Experts and Indicators folders within it and you will need to copy the mq4 or ex4 files into their respective folder.

No. The trading platform time is set by default and cannot be changed. It may be possible to obtain local time indicators directly from the MetaQuotes community, however.

The update is done automatically whenever there is a new build released by MetaQuotes. All you need to do is allow the program to make changes to your computer when it starts up.

You may also try running it as administrator to grant the program sufficient access level to perform any update.

We have trading servers located in London.

Frequently Asked Questions

This comprehensive Forex Trading FAQ covers all the basics of trading, as well as some of the more advanced topics. Beginners and advanced traders have both been kept in mind. If you need help with your GO Markets account and/or trading in general, please see our responses below.

If your questions have not been answered below, please feel free to contact our Support Team at any time.

General

GO Markets London Limited is an appointed representative (FCA reference number 779813) of Price Markets UK Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 725804.

Please use the following link to begin your live account application – open live account

CFD trading involves significant risk.

We aim to respond to all new account enquiries within a 24-hour period.

You can have one of the following: GBP, EUR, and USD.

Please refer to our Wallet page for the list of acceptable deposit methods and our withdrawal procedures.

We aim to process all withdrawal requests received before 1pm GMT on the same day. Those arriving after will be processed the following day. While it largely depends on the receiving bank you are using, in general, local transfers may take 1-2 business days, and international transfers may take 3-5 days for your funds to be reflected on your account balance.

The minimum deposit is £100 or equivalent in EUR or USD.

Please refer to our Wallet page for further details.

Please email support@gomarkets.co.uk and we will update your information for you. Please note that if you are updating your address details, we require a recent bank statement or utility bill which shows your new address.

You can change your password on MT4. Click on Tools > Options and look for Server tab.

There is a Change button you can click on to change your master or investor passwords.

Sure. You can call in on 020 3778 0640 (INT: +44 203 778 0640) or send your full name, date of birth and address to support@gomarkets.co.uk so that we can reset it. For security purposes, you will be required to provide some personal details to help verify your account.

No. CFTC regulation prevents US traders trading with non-US brokers.

Yes. There is also a MT4 app for Google Android and Apple iOS. You may search for MetaTrader 4 on either Google Play or Apple App Store.

To open a demo account, click here.

CFD trading involves significant risk.

Trading

Margin is the amount of money required in your account in order to open a trade.

To calculate the FX margin requirement, you will require the following formula:

(Market quote * Volume) / Leverage = $Margin Requirement

Example

The current EURUSD price is quoted as 1.13729, and we would like to trade one standard lot (100,000) using an example account leverage of 1:100

The calculation would be (1.13729 * 100,000) / 100 = $1137.30 USD

Note: If the base currency of your account is not in USD, this amount can simply be converted into the corresponding currency EUR or GBP.

Since margin is essentially the collateral required in order to open a trade, if the market moves against a client’s position and your overall account equity is reduced, then you may not have sufficient funds available to maintain this position.

If your Equity (Balance – Open Profit/Loss) falls below 50% of the margin required to maintain an open position then the system will begin automatically closing the largest losing position in an attempt to increase your equity.

Our margin call and stop out levels are 80% and 50% respectively.

Your account leverage is the multiplier of your ability buy a larger volume of currency, and will determine how much margin is required for you to open a position.

Example

If you have leverage of 300:1, you can control a large position (£150,000) with a small amount of margin (£500).

If you hold a position overnight on a Wednesday, the financing (Swap) charge is multiplied by three (3) times. This accounts for the settlement of your open position(s) for the proceeding weekend. The financing charge is also affected by public holidays.

Overnight financing costs are applied during the New York close which equates to 00:00 platform time.

Take profit and stop losses are classed as pending orders. Unfortunately, it may not always be possible to fill these orders at the desired levels due to price volatility or unforeseen market events. Once triggered, pending orders then become market orders and are subjected to whatever market liquidity is available at that time.

Our pricing is derived from top tier liquidity providers who stream prices to our platform.

MT4 always uses Bid price to construct the chart in all available periods.

Our platform or chart time is set to GMT+3. It cannot be changed on your MT4.

The MT4 chart will display the BID price by default which is the (SELL) price. When you enter a short position, in order for you to close this trade you need to (BUY) or go long. Therefore, the ASK price or BUY price is required which is not reflected on the chart. Another way to think of this is the BID price or chart price plus the spread.

Yes. You can use EAs (Expert Advisors) available from third party providers. As GO Markets is not associated with any of these providers, we cannot provide additional support for these automated strategies and suggest you contact the source directly should you experience any difficulties related to settings or methodology.

The BID price is shown on the chart by default, to include an ASK line to display the current spread, please use the following steps:

Step One

Press F8 on the keyboard, select the “Common” tab and make sure the “Show Ask line” box is checked.

Step Two

Select the “Colors” tab and make sure the ASK line colour is something bright such as Aqua in the example below.

Step Three

You should then see something like this below with both the BID and ASK price displayed in the example below.

We have over 50 currency pairs on our platform and are still expanding the list from time to time.

The best way to find out is to setup a demo platform – try a demo account. It takes less than 5 minutes.

CFD trading involves significant risk.

Yes, you can trade 0.01 lots on Forex.

No, we do not prohibit any trading styles and you can open and close your positions as often as you like.

Slippage is a part of trading and is common. Slippage usually occurs when the volatility is high, which generally happens due to major news events.

Technical

Our demo accounts last for 30 days. You won’t be able to access your demo once it expires. If you need to extend your trial before opening a live account with us, you can always register for another demo account. To do so, simply click on File > Open an Account on our MT4 platform and follow the prompts.

Most of the time, it simply means the platform is not able to log you in. You can click on File > Login to Trade Account.

If you don’t see the full list of symbols on Market Watch, right click on one of the symbols, and click Show All.

Yes. We packaged a Mac version MT4 with WINE for our traders to use.

A daily statement is sent out if you have some trading activity on the previous day. You may also want to check your spam folder as sometimes they may be miscategorised by your email service provider. You can also consider adding our email address to your email whitelist.

On your account history, right click on the display area or one of the closed trades, select the period you want. Once the records show, right click again and select ‘Save as Report’.

Yes, MT4 platform supports multiple login simultaneously to the same account. So you can leave your desktop MT4 logged on and sign in using your mobile phone while you are away.

When you are running the installer, there is a Settings button on the same page of the licence agreement. Click on the button and rename the destination folder and continue. It will then install another copy of MT4 on your computer.

Click on File > Open Data Folder and open MQL4 folder. There are Experts and Indicators folders within it and you will need to copy the mq4 or ex4 files into their respective folder.

No. The trading platform time is set by default and cannot be changed. It may be possible to obtain local time indicators directly from the MetaQuotes community, however.

The update is done automatically whenever there is a new build released by MetaQuotes. All you need to do is allow the program to make changes to your computer when it starts up.

You may also try running it as administrator to grant the program sufficient access level to perform any update.

We have trading servers located in London.

Ready to trade? Apply for a Live Account today.

CFD trading involves significant risk.

Ready to trade? Apply for a Live Account today.

CFD trading involves significant risk.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. CFD trading involves significant risk.
Contact our 24 / 5 support

The information on this website is not intended for distribution to, or use by any person in any country or jurisdiction where such distribution would be contrary to local law or regulation.

GO Markets London Limited is a company registered in England and Wales under company number 10333853. Registered Office: Level 6, 107 Cheapside, London, EC2V 6DN, UK.

GO Markets London Limited is an appointed representative of Price Markets UK Limited which is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 725804.

The Financial Services Compensation Scheme

The FSCS is the UK’s compensation scheme for customers of authorised financial services firms and their appointed representatives. The FSCS can pay compensation to consumers if a firm (or appointed representative) is unable, or likely to be unable to pay claims against it because it becomes insolvent or stops trading. The FSCS is an independent body set up under the FInancial Services and Markets Act 2000. The FSCS provides compensation of up to £50,000 for eligible investments. Please visit the FSCS website for more information on eligibility and compensation limits.

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