What is forex trading?
Foreign exchange, also known as forex or FX, is the simultaneous buying of one currency while selling another. The forex market is available 24 hours a day, five days a week, and it is one of the largest, most liquid financial markets in the world.
Can I trade outside regular market hours?
No, unfortunately, not. Trades can only be placed during market hours between Sunday 22:00 UK time and Friday 22:00 UK time. Please bear in mind that certain markets will be quoted outside their normal trading hours, which is known as 'Grey Market' pricing. However, no trades can be placed at that time.
What does the spread refer to?
The spread is the difference between the BID and the ASK price. The BID price is the rate at which you can sell a currency pair, and the ASK price the rate at which you can buy a currency pair. With GKFX, you can trade a large range of instruments with fixed as well as variable spreads depending on the trading account type selected.
You can find our spreads on our Market Information Sheets
What are base and quote/term/contra currencies?
The base currency is the first currency in a currency pair. The quote, term or contra currency is the second currency in a currency pair. For example, in the EURUSD currency pair, EUR is the base currency and USD is the quote currency.
Does GKFX charge commission?
Depending on the account type you hold with GKFX, some products are liable to commission. All commission charges will be clearly stated in your daily/monthly statements.
What are the trading hours for the forex market?
You can trade forex from Sunday 22:00 UK time (Monday 0:00 EET) until Friday 22:00 UK time (Saturday 0:00 EET). Further details can be found in our MIS sheets regarding trading hours of the individual products offered at GKFX
What does ‘order volume’ stand for in a forex trade?
The term ‘order volume’ refers to the number of standard lots you want to trade.
One standard lot equals 100,000 units of the first currency in the pair, i.e. the base currency.
A volume of 0.1 lot equals 10,000 units of the base currency.
How do I know when there is a news announcement?
Major news can definitely affect the market and your trading strategy. Therefore, we offer an Economic Calendar
where you can keep track of important news and figures announcements that may influence the market. Additionally, you will find different information sources on the internet.
Can news announcements affect my trades?
Yes, major news and announcements can often cause volatility or uncertainty in the forex market and this can affect all tradable instruments.
In times of uncertainty, orders are sometimes filled away from the desired price due to gaps in the market. When you attempt an instant execution order, you may be re-quoted within a few seconds and in case of a pending order, you may experience slippage.
Do I have to pay tax on my profits?
GKFX does not deduct any taxes of your closed out positons. Since tax laws vary from country to country you will need to contact your local tax authorities for further information.
Is GKFX UK regulated?
GKFX is authorised and regulated by the Financial Conduct Authority (FCA) in the United Kingdom.
Our FCA Register number is 501320 and the company number 6837942
How are my funds protected?
GKFX is regulated by the Financial Conduct Authority (FCA) and therefore we are required to adhere to the regulator’s rules and obligations. The FCA performs frequent checks to ensure businesses are fully compliant.
Under FCA client money rules, GKFX is obliged to segregate all its retail clients’ funds from its own funds. This separation of accounts ensures that your money can never be used as a recoverable asset by GKFX's general creditors.
All our client funds are held in separate bank accounts with some of the world’s top tier banks, including Barclays and BNP. In the unlikely event GKFX cannot meet its financial obligations, you as a retail client can submit a claim to the Financial Services Compensation Scheme (FSCS) which was setup under the Financial Services & Markets Act 2000. This allows all retail clients to claim up to £50,000 in case GKFX gets into financial difficulties and is not able to repay what it owes to clients.
Further details can be found on our homepage
What are the procedures if I have a complaint?
If you have any queries
please contact our Client Services team either by phone, e-mail or letter.
Telephone: +44(0)207 186 1212
Postal: GKFX – Client Services
Bevis Marks House
24 Bevis Marks
If you are still unhappy with the outcome and would like to make a formal complaint
to our Compliance department, then please put your complaint in writing to:
GKFX – Compliance
Bevis Marks House
24 Bevis Marks
Telephone: +44(0)207 186 1251
A copy of our complaints handling procedure is available on request.
If you are not satisfied with the outcome of a dispute, you are entitled to contact the Financial Ombudsman Service for an independent view. The address is:
Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London E14 9SR
Telephone: 0845 080 1800
What can I do if the charts display ‘Waiting for Update’ on the MT4?
Most likely the charts will display this message when you download the MT4 platform for the very first time. It may happen later on as well however you will need to follow the same steps as described below:
- Check if you are connected to our server successfully. Have a look at the connectivity bars at the bottom right-hand corner which should be displayed in green/blue.
- Open the Market Watch window and drag & drop the preferred symbol onto one of the chart windows. You will see the actual market reflected in the chart immediately.
- Alternatively do a right click on the symbol in the Market Watch window and select Chart Window.
How can I open a new chart?
Open the Market Watch window and drag & drop the preferred symbol onto one of the chart windows. You will see the actual market reflected in the chart immediately.
Alternatively do a right click on the symbol in the Market Watch window and select Chart Window.
How do I display all trading symbols in the MT4 Market Watch window?
In case the Market Watch window displays only a selection of the complete product list available on your account, you will need to do a right-click somewhere in the window and select from the drop-down menu ‘Show all’. This will provide you the complete list of all trading symbols on your account.
How can I open the New Order window?
There are different ways of opening the New Order window. Go into the menu bar on the top of the MT4 platform and click on ‘New Order’. The window will appear and you can select all details to place your trade. Alternatively, you can go into the Market Watch window, select your preferred trading symbol, and do a right-click on it where you can select New Order. If you double click the symbol in the Market Watch window the New Order window will pop up as well.
Further possibilities would be placing a trade directly from the chart in doing a right-click and select Trading and New Order or you enable One Click Trading in the selected chart.
How can I place a trade?
Open the New Order window and specify the symbol you wish to place a trade on. Enter the volume, stop loss and take profit if applicable. Select the order type Market Execution or Pending Order before activating Sell or Buy.
If you select the Pending Order you will need to specify the pending order type. In comparison to market orders pending orders will be executed at some point in the future. You can select from four different pending order types.
- For a Buy Limit the current market has to be offered at, or above, your chosen level.
- For a Sell Limit the current market has to be bid at, or below, your chosen level.
- For a Buy Stop the current market has to be offered at, or below, your chosen level.
- For a Buy Stop the current market has to be offered at, or below, your chosen level.
Once the order was successfully placed you will see it in the Terminal window in the Trade tab.
NOTE: An order (market as well as pending) can only be placed if the margin requirements are fulfilled.
How can I close a trade?
There are different possibilities to close a position.
- Navigate to the Terminal window into the trade tab and highlight your open position, double click on it and the new order window will appear. Click on the yellow button below Sell and Buy to close out a position.
- Right click on the highlighted order and select Close Order.
- If one click trading is enabled you can close a position in clicking on the X on the right hand side of the order line in the Terminal window.
What is One Click Trading?
The One Click Trading buttons on your MT4 platform will allow you to instantly buy, sell, or close your order at the current market price. Navigate into Tools and Options and select the Trade tab. Tick the box next to ‘One Click Trading’ and accept the Terms & Conditions in the pop-up window before clicking OK.
Do a right-click on the specified chart and select One Click Trading. A little box will appear in the top left-hand corner of the chart letting you Buy or Sell the specified volume.
You can close the order with the One Click Trading function in the Terminal window on the bottom of the MT4 platform. Go into the Trade tab and click on the little ‘x’ on the right-hand side of the active trade (next to the profit or loss of the position). This will close the order immediately.
NOTE: Please be careful and use this additional MT4 platform trading feature only if you are already an experienced trader.
What do the following terms on my MT4 platform mean: Balance, Equity, Margin, Free Margin and Margin Level?
Those terms are displayed in the Trade tab in the Terminal window on the MT4 platform. They provide you the following information:
Balance: Total cash available to trade, including all closed out profits and losses as well as all deposits and withdrawals applied on your trading account.
Equity: Balance +/- floating Profit and Loss
Margin: Total amount of funds required in order to open a position. A minimum of 10% of the Margin is required to keep your positions open.
Free margin: Equity – Margin held on open trades
Margin level (% free margin): (Equity / Margin held on open trades) x 100
How can I re-arrange the windows displayed of my MT4 platform?
MT4 has several components that you can view or hide from your screen. You can move them individually to personalise your MT4 settings. All windows can be selected in the menu on the top left-hand side. Navigate into View and select the windows you wish to display on the MT4. You can choose between:
Market Watch: includes all products you can trade on your account as well as the platform time.
Navigator: includes all your accounts, expert advisors and indicators (default and added ones).
Terminal: includes active trades and historical ones, alerts, mailbox and journal.
Data Window: displays information of the open Chart (move the cursor across the chart to receive detailed information).
Strategy Tester: provides the possibility to test your expert advisors functionality. Please note that those tests are only on a limited basis possible, depending on historical data available of each product.
How can I change the Periodicity of the charts on the MT4 platform?
Each chart can be displayed in different time frames. You can choose between the pre-set Periodicities:
M1 – 1 Minute
M5 – 5 Minute
M15 - 15 Minute
M30 – 30 Minute
H1 - Hourly
H4 – 4 Hours
D1 – Daily
W1 – Weekly
MN – Monthly
Periodicities can be selected from the Toolbar on top of the chart or in doing a right-click on the chart, selecting Periodicity.
How do I change my chart style on MT4?
Please navigate to Charts and select the type of chart you want.
Alternatively, you can click on one of the buttons in the toolbar above the Chart window.
Please note that you might need to zoom into your chart in order to see the different styles the charts can be displayed.
How can I show the ASK price on my MT4 charts?
You can display the ASK price for the actual market quote on your charts. Right-click on the chart and select ‘Properties’. Navigate into the ‘Common’ tab and tick the box nest to ‘Show ASK line’.
Alternatively, you can follow the ASK price in the Market Watch window.
- Charts are indicative only, and while they are displayed accurately, they do not always reflect the actual pricing of a market, especially during volatile periods.
- Please note that the ASK price cannot be displayed in the historical data on the charts as well as in the History Center.
Which time zone do the MT4 charts follow and how can I change it to my local time?
Since the change to summer time in March 2015 (29/03/2015) GKFX moved the server time one hour ahead from CET to EET time zone. Chart times always follow the server time, which is now set at Eastern European Time (EET) on all servers.
This is normally set to GMT+2. However, during British Summer Time (BST) platform time is GMT+3.
Unfortunately, you cannot change the time zone to your local time as it is set by the server automatically.
Can I adjust the scale of the vertical and horizontal axes on my MT4 charts?
Yes. You can do that by placing your cursor on the vertical or horizontal axis until you see a double-headed arrow. Then please click and move the cursor upwards/downwards (vertical axis) or sideways (horizontal axis) until the scale is adjusted.
Alternatively, you can fix the vertical between two price levels. To do so, please right-click on the chart and select ‘Properties’. In the ‘Properties’ window, click on the ‘Common’ tab. Tick ‘Scale fix’ and enter the minimum and maximum values for the scale, then click OK.
How can I add or remove objects on the charts on the MT4 platform?
To add objects such as lines or text to your charts, navigate to the main menu on the top left-hand corner and select ‘Insert’. Choose from the different objects available and place them on the chart.
To remove an object from your chart you can either double click on the object or right click on the chart menu and select the Objects List. This will bring up the option to delete the object or a list of objects that will allow you to select which ones you would like to remove from your chart.
How do I create a Template of my MT4 chart settings?
Chart settings can be saved as Templates.
Once the chart is set up as required, please right-click on it and select Template and Save Template.
In the pop-up window enter a name for the Template and click on ‘Save’. The next time if you wish to use the same Chart settings you will need to do a right-click on the chart, navigate into Template and you will be able to find your saved Template (name) in the list.
How do I create a Profile on my MT4 account?
Specify your account/chart settings before navigating into the main menu on the top left-hand corner and select File and Profiles. Click on Save Profile and enter a name in the pop-up window. Once the Profile is saved, you will find it in the list in File and Profiles.
Why did the MT4 platform not save my Chart settings, Profiles and Templates?
Occasionally it might happen that the downloaded MT4 platform does not provide you the correct user rights automatically to modify the installation folder.
Please ensure that you set the platform to run as an administrator as otherwise it will run with a normal user’s privileges. In order to set the correct administrator rights on your MT4 platform, you will need to follow the instructions below:
- Close the MT4 platform and do a right-click on the MT4 icon on your desktop.
- Select ‘Run as Administrator’
- Open the MT4 platform again, specify your settings which should be saved from now on.
How do I scroll back on my MT4 chart to view historical prices?
Make sure that you disabled the ‘Auto Scroll’ and ‘Chart Shift’ function on your platform, otherwise the chart will continue to revert to the most recent candle with each market movement. Navigate to ‘Charts’ and disable ‘Auto Scroll’ and ‘Chart Shift’.
Alternatively, you can click on the ‘Auto Scroll’ and ‘Chart Shift’ buttons on the Toolbar above the Chart window.
To move backwards on your chart, you can:
- Click on the chart, hold and drag it towards the right, or
- Press the cursor button ‘<=‘on your keyboard, or
- Use the ‘Page Up’ or ‘Page Down’ keys on your keyboard.
How can I show multiple charts on my MT4 platform?
Go into the Market Watch window and do a right-click on all symbols you wish to display in the Chart window. At first they will be placed randomly in the Chart window.
In order to arrange them within the Chart window you will need to go into the main menu, navigate into Window and select either ‘Tile Horizontally’ or ‘Tile Vertically’.
Alternatively you can display one chart in the Chart window and the remaining ones can be selected in the tabs below the Chart.
What are offline charts on MT4?
These charts are based on historical data downloaded and saved to your PC. They are not updated from the server and therefore new quotes will not be shown in the charts.
Offline charts can be very useful for working with non-standard instruments or timeframes. Please note that the base chart will need to be active at all times to ensure that the offline chart will continue to display prices.
In order to create a 2 minute chart please do the following:
- Open a 1 minute chart for your selected symbol/instrument.
- Locate the PeriodConverter in the ‘Scripts’ section of the Navigator window.
- Drag the PeriodConverter onto the chart window.
The box below should appear. Select the tab ‘Common’ and ensure that the ‘Allow live trading’ and ‘Allow DLL imports’ boxes are ticked.
Select the tab ‘Inputs’ and ensure that the Value is specified according to the time frame you are looking for. In our example the Value should be set to ‘2’ as this will multiply everything on the 1 minute chart by 2.
Navigate to the main menu and select File and ‘Open Offline’. In the pop-up window you should find your newly created time frame. Open the new time frame and it will appear in the Chart window, next to the ‘base chart’, in our case 1 minute on EURUSD.
How do I add Indicators to my MT4 chart?
Indicators are price analysis tools that you can add onto your MT4 charts. MT4 provides multiple default indicators you will find in the Navigator window.
To add an indicator to your chart click on the name of the indicator in the Navigator box and drag it onto the chart. A window will appear where you can specify the settings of the indicator.
To remove an indicator from your chart right click on the chart and select Indicators List. Select the indicator you want to remove and click delete. Or you can simply right click on the indicator on your chart and delete the indicator from there.
Default indicators were designed specifically by MetaQuotes, the platform owner and developer. These are indicators used most often by traders, such as a Moving Average indicator that displays the average price over a specific time period. However there are also thousands of custom built indicators available online, many of them free to use. One reason MetaTrader platform is so popular is that anyone can develop an indicator to use on their MT4 platform.
If you wish to install a custom built indicator you must request installation instructions and support from the party that developed the software. Each custom indicator is unique and can be made up of several different program files so our support team is unable to assist with any software that has been developed by a third party.
However we are able to provide the following general guidelines for installing custom-built 3rd party indicator files on MT4.
- Navigate into File and Open Data Folder.
- In the pop-up window double-click on the sub-folder MQL4.
- Save your 3rd party indicator in the folder Indicator and restart the MT4.
- Your newly added indicator should appear in the Navigator window below Indicators.
- Apply the indicator to your charts the same way as the default ones described above.
GKFX accepts no liability as to the reliability of any indicators.
How do I add Expert Advisors to my MT4 chart?
Expert Advisors (EA) are trading robots which allow you to automate your trading strategy. MT4 provides multiple default EA programs you can view in the Navigator window.
Default EAs were designed specifically by MetaQuotes, the platform owner and developer. However there are thousands of custom built EAs available online, many of them free to use. One reason MetaTrader platform is so popular is that anyone can develop an EA to use on their MT4 platform or to share with other traders.
If you wish to install a custom built EA program you must request installation instructions and support from the party that developed the software. Each custom built EA is unique and can be made up of several different program files so our support team is unable to assist with any software that has been developed by a third party.
However we are able to provide the following general guidelines for installing custom-built, 3rd party EA files in MT4.
- Navigate into File and Open Data Folder.
- In the pop-up window double-click on the sub-folder MQL4.
- Save your 3rd party EA in the folder Experts and restart the MT4.
- Your newly added EA should appear in the Navigator window below Expert Advisors.
When you add an EA to your chart a box will pop up with that will allow you to change the settings of your EA.
If you do not wish to allow the EA to start live trading do not tick the Allow live trading and Allow DLL imports boxes.
Please read the section on Expert Advisors at the end of our Terms of business.
If you are ready to allow the EA to begin live trading straight away you must tick the box that says Allow Live Trading and Allow DLL imports
If the EA has been added to your chart but is not running you will see a symbol in the top right-hand corner of the chart. If the EA is running you will see a symbol in the top right-hand corner of your chart, and the EA will start to place trades automatically according to its program settings.
How can I test my Expert Advisor?
If you want to test an EA program before you use it to start trading you can back-test it using the Strategy Tester. Navigate into the main menu, select View and Strategy Tester.
An additional window will open on the MT4 platform where you can specify the EA and details you would like to test. Please be aware that those tests are based on historical data and do not reflect what the future might bring. Further, the prices available are BID prices only, which limits the interpretation of the test results. The available historical data depends on the individual product. However, the data range can be extended if you navigate into the main menu, select Tools and History Center. In this window you can select the individual product you would like to download more data.
If you have a CFD account or a CFD demo account you can download historical data from the MT4 History Center and use the additional data to test the performance of an EA. [UK only] If you have a Spread Betting account you can open a free CFD demo account from which you can download historical data. For further instructions on how to download data from the History Centre see Historical Price Data.
If you added an EA to your chart you can back-test even if it is not running. Ensure that you do not tick the boxes Allow Live Trading and Allow DLL Imports if you do not wish to start trading automatically. Right-click on the chart, select Expert Advisers from the menu, and select Strategy Tester.
Once satisfied with your EA test results you can activate it if you do a right-click on the chart, select Expert Advisers and Properties. Tick the boxes to Allow Live Trading and Allow DLL Imports. Alternatively you can test your EA on a demo account, which will provide you trade results in a virtual test environment.
How do I download historical data on my MT4 platform?
In order to download quotes from the History Center, please follow the steps below: Navigate to the main menu in Tools and Options and select the Charts tab. Extend the ‘Max bars in History’ to ‘9999999999999’. Please be aware that using larger volumes of data will increase the data volume on your PC which can have an effect on the speed.
Go once again into Tools and Options and select History Center.
You can now choose the timeframe for the particular instrument you are interested in and double-click on it and click on ‘download’.
MetaTrader 4 should now download the full history of quotes of the specified periodicity for the instrument selected directly from the History Center and import it into MT4.
How can I create an account statement on the MT4 platform?
If you want to restore your trading history, you will need to navigate into the Terminal window and select the Account History tab. Right-click within the Account History tab and select the option ‘All History’. Alternatively, you can specify the historical data you would like to review/create a report. Do another right-click within the Account History window and select ‘Save as Report’. This will generate a report of each placed/closed trade within the specified period. The format will be in HTML.
Please note that GKFX sends daily as well as monthly trading reports to your registered email address. Daily reports will only be sent if there has been some trade activity on this particular day. Monthly ones will be sent regardless of your trade activities.
Is the MT4 available on my mobile device and if so how can I access it?
The MT4 is available in the form of an app on iPhone (OS X) and Android devices. New on the market is the support of Android apps on Blackberry phones (version 10 or higher) where the MT4 app can be downloaded as well. The application runs on phones as well as tablets.
GKFX supports the MT4 app and you will need to follow the instructions to activate it below:
- Go into the App Store on your mobile device, search for the app: MetaTrader 4 from MetaQuotes Corp. Ltd. and download & install the app.
- Open it and select Login to an existing account.
- Enter GKFX in the search box of the next page in order to get a complete list of all available servers.
- Select the relevant server, corresponding to your trading account (hyperlink to servers).
- Enter your login details – account number and password – before clicking on Sign In.
If you need to re-set your password or if you need a reminder of your platform login number please contact our support team at email@example.com
How do I log in to my account using the Android app for MT4?
Open the downloaded app from the App Store (Google Play Store) and select ‘Login to an existing account’.
Enter ‘GKFX’ into the search box to receive the complete list of all GKFX servers.
Select the corresponding server to your trading account and you will be forwarded to the login page. Enter your Login (number) and Password and click on ‘Sign in’.
How do I place a trade with the Android app for MT4?
Please open the main menu (top left-hand corner), select the ‘Quotes’ tab and tap on the instrument you would like to trade.
Then tap on ‘New Order’.
You will then be prompted to specify the type of execution, volume and Stop Loss/Take Profit levels you would like, before you place the order by clicking on ‘Sell’ or ‘Buy’.
How do I close a trade on the Android app for MT4?
Please navigate to the ‘Trade’ tab and select and hold the open position. A new pop up window will appear, where you can select ‘Close order’.
You will then be prompted to confirm the closing of the trade. Tap ‘Close’ on the bottom of the screen.
How do I add currency pairs to the quotes list on my MT4 Android app?
Open the main menu (top left-hand corner) and select the ‘Quotes’ tab.
Click on the plus sign ‘+’ in the top right-hand corner.
In order to find the relevant trading symbol, choose from the different instrument groups.
Select the symbol you are looking for from the displayed list, which will be automatically added to your Quote tap. Go back to the main Quotes tap (top left-hand side) and have a look for your newly added symbol, which is possible to trade now.
How do I remove currency pairs from the quotes list on my MT4 Android app?
Open the main menu (top left-hand corner) and select the ‘Quotes’ tab. Click on the Edit button (pencil) in the top right-hand corner.
Tap on the ‘bin’ icon on the top right-hand corner to be able to select the individual symbol you would like to remove.
NOTE: In this section you are also able to shift the individual symbol to another position if you like. Simply tap the symbol on the left-hand side and move it up or down the list.
Tick the box next to the symbols you would like to remove from the list and click on the ‘bin’ icon on the top right-hand corner, once you finished your selection.
The symbol list will be refreshed and you will need to click on the arrow in the top left-hand corner to get back to the Quotes tab.
How do I open charts on the MT4 Android app?
Open the main menu (top left-hand corner) and select the ‘Charts’ tab.
Click on the Dollar sign ‘$’ on the top of the screen and select the relevant symbol of the drop-down menu. The new chart will be loaded and you can begin to work on it.
How do I see my open and pending positions on my MT4 Android app?
Open the main menu (top left-hand corner) and select the ‘Trade’ tab, which you will direct you to your open and pending orders overview.
The upper part of the screen shows your current account details such as Balance and Margin level.
Below this information you will find your current open positions.
The lower part of the screen reflects the pending positions.
How do I see my account history on my MT4 Android app?
Open the main menu on the top left-hand corner and select the ‘History’ tab.
Click on the calendar symbol in the top right-hand corner and select the time frame of historical data you are interested in. Wait a few moments and the requested data will be reflected.
Can I use the app for multiple accounts on my MT4 Android app?
You can only log in to one account at a time on the mobile application. However, you can switch between accounts in the ‘Accounts’ tab, if you wish to do so. (NOTE: you will need to login at least once to all your accounts and save the login details to be able to switch between accounts.)
What happens if I lose my connection on my MT4 Android app?
If you lose connection on your iPhone, your orders will not be affected and will continue to be open as long as your account can support the required margin. As soon as you regain reception, your MT4 app will automatically connect to our server again.
Can I use indicators on the MT4 Android app?
You can use the indicators that are available on the app by default. To view these, please navigate to the ‘Chart’ tab. Please tap on this screen and a pop-up window will appear. Unfortunately, you cannot add customized indicators to the mobile application.
How do I login to my MT4 account using the iPhone app?
Open the installed MT4 app and select ‘Login to an existing account’.
Enter our company name ‘GKFX’ into the search box and select the server name corresponding to your trading account.
On the next page, enter your login details (Login = your account number; Password = your personal password) and click on ‘Sign In’.
How do I place a trade using my MT4 iPhone app?
Please navigate to the ‘Quotes’ tab and select the instrument you would like to trade.
Tap on ‘Trade’ in the little pop-up window.
You will then be prompted to specify the volume and type of execution you would like.
If you wish, you can add a stop loss or take profit and then select ‘Buy’ or ‘Sell’ accordingly.
Once you have placed your order, you will receive an order confirmation.
How do I modify or close a trade using my MT4 iPhone app?
Please navigate to the ‘Trade’ tab to view all your open positions.
Tap on the selected position to expand and show its details.
Once the box appears underneath the order, press within that space (box) for a few moments until the pop-up window appears (see image below). Select ‘Modify’ to be able to adjust the order specifications.
Now you can set the Stop Loss or Take Profit levels and tap the ‘Modify’ button when finished. This will send a request to our server, updating the order specifications.
How do I close a trade on the iPhone app for MT4?
If you wish to close a position, tap the position, navigate into the ‘Trade’ tab and select the order you wish to close. Hold on for a view moments until the navigation window will appear and select ‘Close’ and you will be redirected into the closing window.
You will need to press the yellow button ‘Close by Market’ and your order will be closed on the next available market price.
A closure confirmation note will appear on the screen.
How do I log out of the MT4 iPhone app?
Please navigate to the tab ‘Settings’ and select ‘Trade Accounts’.
Click on the tab indicating the ‘Traffic’ on the bottom of the page in order to exit your trading account.
The log off button will change into ‘Go Online’, which indicates that you closed your account. If you wish to re-connect you can simply click on this button again.
How do I add currency pairs to the quotes list on my MT4 iPhone app?
Please navigate to the ‘Quotes’ tab and press the plus sign (+) in the top left-hand corner.
Select the relevant group, which will provide you a detailed list of all available instruments.
Click on the green circle next to the symbol you wish to add to your Quotes list. It will disappear and automatically added to the Quotes main list. You can go back to the main page in either pressing ‘Done’ (right-hand corner) or select the backward sign < (left-hand corner).
How do I remove currency pairs form the quotes list on my MT4 iPhone app?
Please navigate to the ‘Quotes’ tab and press the ‘Edit’ button (pencil icon) in the top left-hand corner.
Select the instrument you would like to remove from the main Quotes list and a red tick will appear on the left-hand side. To confirm this deletion please press the red ‘bin’ button in the top-left hand corner.
Click on the Edit button (pencil icon) in the top-left hand corner once again to return to the main Quotes page.
If you would like to rearrange your Quotes list, you can do this by tapping on the 3 lines on the right-hand side of the symbol and move it up or down the list.
How do I open charts on the MT4 iPhone app?
Please navigate to the ‘Quotes’ tab and select the symbol you would like to open a chart for. Tap on it for a few moments and select ‘Chart’ in the little pop-up window, which will automatically transfer you to the Charts tap reflecting the relevant symbol.
Can I use indicators on the MT4 iPhone app?
You can use the indicators that are available for the app by default.
To view these navigate to the ‘Chart’ tab and click on the ‘f’ button above the chart.
In the next window, please tap on the button ‘Main window’ to view the list of available indicators.
Select the indicator you would like to apply to the chart.
Adjust the settings of the indicator according to your trading strategy and press ‘Done’ to apply it to the chart.
Unfortunately, customized indicators cannot be added onto the MT4 app for mobile devices.
How can I install the MT4 on my MAC?
It is possible to download and install the MT4 on a MAC computer. However, the software is Windows-based which requires an intermediate software in order to display and use it normally. Those intermediate software installations became less complicated, however it still causes unnecessary confusion.
Our GKFX IT team developed a one-click installation solution for the MT4 platform on a MAC. You will need to login to our online portal MyGKFX and navigate to Extras and Platforms and select the download button for ‘MT4 for MAC
Alternatively, you still can install the intermediate software, e.g. Winebottler, which considered to be less complicated in its installation.
What are pending orders?
A pending order is the client's commitment to buy or sell an instrument at a specified price sometime in the future.
Most commonly, you can use a pending order to create an order that will be executed automatically if the market reaches a certain level. The order essentially contains two variables – price and duration. You can specify the price at which you would like to buy/sell an instrument and also specify the duration that the order should remain active.
You can select from four different pending order types.
- For a Buy Limit the current market has to be offered at, or above, your chosen level.
- For a Sell Limit the current market has to be bid at, or below, your chosen level.
- For a Buy Stop the current market has to be offered at, or below, your chosen level.
- For a Sell Stop the current market has to be bid at, or above, your chosen level.
NOTE: A pending order can only be placed if the margin requirements are fulfilled at opening time.
What’s the difference between instant execution and market execution?
An instant execution order
is one that is executed at the price you specified to place a trade on. When you place an instant execution order, the terminal sends the request to buy or sell at the specified price. If the price is still available to GKFX in the market, we execute the trade. If not, there will be a "re-quote" where we return a new two-way price at which you can resubmit the order or have the option to cancel it.
A market execution order
is one that is executed at the best price available to GKFX in the market at that time. There are no re-quotes, but the price will not necessary be the one you saw on the screen when you placed the order.
The price the order is filled at may sometimes differ from the price seen on the platform because:
- the market may have moved on and your specified price is no longer available anymore, or
- the trade volume you requested may be larger than the volume available in the market at the best tradable bid/offer price shown on the screen.
How do I calculate the profit and loss value per pip?
The profit or loss per pip is always calculated based on the quote currency. The quote currency is the second currency in the pair – e.g. USD in the EURUSD currency pair.
If your GKFX account is in the same currency as the quote currency, any profit or loss made does not need to be converted. If not however, your profit or loss will be converted into your account currency at the spot rate at the time the position is closed. (Please note that this rule does not apply to Spread Betting accounts where all profits and losses are displayed in Sterling.) In the table below, you can find our pip values. We calculate the pip value to the fourth decimal place, i.e. 0.00010, for most currency pairs except the Japanese Yen (JPY) pairs where it’s calculated to the second decimal, i.e. 0.010.
NOTE: You will find exotic pairs which will be quoted with differently to those examples (e.g.: four digits behind the decimal point). Generally spoken the second last digit will always display the pip of the individual currency pair.
||Units of base currency (first currency in a pair
||Profit and loss per pip in the quote currency (second currency in a pair) / for JPY pairs
||10 term currency / JPY 1,000
||1 term currency / JPY 100
||0.1 term currency / JPY 10
Trade volume x pip size = P&L per pip
Example: EURUSD 1 lot trade:
100,000 x 0.0001 = USD10 P&L
What should I do if I cannot open/modify/close my positions?
If you are unable to open/modify/close a trade on your trading account and your trading strategy requires immediate action please call our Trading desk on +44 (0)207 186 1212. The Trading desk is open 24 hours from Sunday 10pm to Friday 10 pm UK time.
Please have your account number and trade details available before calling the Trading desk as those will be required to place a trade.
What are BUY/SELL limit and BUY/SELL stop orders?
A BUY/SELL limit order is an instruction to deal if the price moves to a more favourable level than where it’s in the market at the moment. Those orders are called ‘improvement orders’ as well. A limit order is a request to buy at a price lower than the current market price or to sell at a price higher than the current market price.
A BUY/SELL stop order is an instruction to deal if the price moves to a less favourable level than where it is in the market at the moment (note: It is less favourable to buy at higher prices and to sell at lower prices). A stop order is a request to buy at a price higher than the current market price or a request to sell at a price lower than the current market price.
How do I place a pending order?
If you want to place a pending order, please open the "Order" window in one of the following ways:
- Right click on the Market Watch window or on the "Trade" tab of the terminal window and select ‘New Order’; or
- Double-click on the currency pair in the Market Watch window; or
- Press the F9 button; or
- click on the button New Order in the toolbar; or
- Right-click on the chart window and select Trading and select New Order.
Select the order type ‘Pending order’
from the dropdown list and specify your preferred opening price as well as your stop loss and take profit levels if applicable.
Are all my trades guaranteed?
Unfortunately, orders are never guaranteed because if volatility is high, prices can move quickly and we may not be able to obtain a quote for you at the price you requested.
For an instant execution order, you may be re-quoted in the space of a few seconds. For a pending order, you may experience slippage on the opening price.
What is slippage and why does it happen?
Slippage can occur when orders are filled away from the desired price due to gaps in the market. This can sometimes happen because market prices can be very volatile or liquidity can be thin. In these scenarios, orders cannot always be filled at the exact price, but at the next available price.
Can I lose more than I deposited?
Forex, spread bets and CFDs are leveraged products. Leverage means borrowing money to add to your existing funds in such a way that the potential profit or loss is magnified. In trading, leverage is vitally important, and could result in large losses and damage your potential profits. When trading on leveraged products, your losses may exceed your investments.
To reduce your risks, we have an Automated Risk Management System in place where open positions are automatically closed out when your Equity falls below 10% of the required margin. However, the forex market is highly volatile and if you have a very low margin level over economic news releases or under other abnormal conditions, the market can rapidly move against you and the system will close open positions at the next best available price. That could cause you to lose the whole balance, and in some cases even more.
Also, if you are holding positions over a weekend when markets are closed, the market can open out of line from the close on Friday evening and may cause extended losses.
Am I able to place trades via email or telephone?
You can place trades via telephone but we do not accept trade requests per email. If you don’t have access to your platform, you can call our Trading desk to open, modify or close positions for you on +44 (0)207 186 1212. The Trading desk is open 24 hours from Sunday 10pm to Friday 10 pm UK time.
How do I calculate my margin?
Your margin requirement equals the opening (market) price of the product you wish to trade times the lot size times the margin percentage specified in our MIS sheets
on our homepage.
1 lot x the price to five decimal places, 13600 x 0.25% or 0.0025 which equals 35 USD, the margin requirement for EURUSD at that lot size/price.
1 x 13600 x 0.0025 = 35 USD
Alternatively you can use our Margin Calculator
on our homepage as a guideline on what Margin amount you will need to trade a specific product.
What does ‘10 points’ refer to on the MT4 platform?
On the MT4, 10 points/pips is the same as one ‘standard’ pip.
The MT4 assume that the last decimal place is a point/pip despite the fact that most currency pairs are quoted to four decimal places in the market (or to two decimal places for JPY pairs).
GKFX quotes all prices at five decimal places (and three for JPY pairs) but the platform continues to assume that points/pips are calculated to the last decimal place, when in reality there is a further subdivision of a point/pip.
Do you guarantee stops?
No, we do not, but we will always give you the best possible price considering market conditions at the time.
What is a Stop Loss order?
Stop loss orders help you to minimise losses in the event the market moves against you. If the price reaches a stop loss level, the position will be closed automatically on the next available market price.
You can add a stop loss in the New Order window when you place a market or pending order. If you took a long (buy) position your stop loss will be lower than the price at which you bought. If you took a short (sell) position your stop loss will be higher than the price at which you sold.
What is a Take Profit order?
A take profit order is used to lock in profits if the market moves in your favour. If the price reaches a take profit level, the position will be closed automatically.
Take profit orders are useful when you are unavailable to monitor your open positions. If you take a long (buy) position your take profit level will be higher than the price at which you bought. If you take a short (sell) position your take profit level will be lower than the price at which you sold.
How do I place a trailing stop on the MT4 platform?
A trailing stop can only be placed on an open and on a placed pending order.
Navigate into the Trade tab in the Terminal window on the MT4 platform.
Right-click on the open position and select ‘Trailing Stop’.
Specify the required level for your trailing stop. (This is specified in ‘points’ taking the last digit into account.)
Why was my trailing stop not executed on my MT4 platform?
Trailing stops on the MT4 platform are logged locally on your computer, not on our server. You will need to keep the MT4 open in order to keep the trailing stop active.
If you set a trailing stop and then log out of the MT4 it will be cancelled and leaves your order unprotected.
I lost connection on my MT4 platform. Is my trailing stop still in place?
If you set a trailing stop and lose your server connection before the market moves in your favour by the number of points that you specified, the trailing stop loss order will not be placed.
If you set a trailing stop and lose server connection after the market moves in your favour, triggering the trailing stop, the stop loss order will not trail the market. It will work as a hard stop, fixed at the last price where the stop loss was at when you lost the connection.
What is a re-quote?
A re-quote occurs when you request to execute an order at a specific price that is no longer available and you will be offered a new quote that you will need to accept in order to place the trade. This can happen during fast-moving markets.
How can I avoid re-quotes on the MT4 platform?
Re-quotes can be reduced on the MT4 platform if you check the ‘Enable maximum deviation from quoted price’ box in the ‘New order’ window, and enter an appropriate value.
This allows a user-defined window of discretion as to how much leeway can be accepted before a re-quote is offered.
You may be filled at a worse price than the one on the screen, but your order will be executed as long as the price has not moved beyond what you are happy with.
Please note that MT4 interprets a ‘pip’ as the last decimal place. A value of 25 pips equal to 2.5 real pips.
Are your MT4 forex trading hours in line with the New York close?
The time zone has been changed only recently from CET to EET on the MT4 platform. Since the beginning of the summer time (29/03/2015) the platform time has been changed for all clients and cannot be adjusted individually.
Our MT4 forex trading hours start from Monday morning 00:00 EET (Sunday 22:00pm UK time) and end on Friday 23:59:59 EET (22:00 UK time) of each week.
Therefore, midnight (and Friday evening market closure) aligns with New York closing time at 17:00 EST. (Except for when the USA change their clocks at different times to everyone else!)
What is hedging? How does hedging affect my margin requirement?
Hedging is when you have long and short positions in the same instrument open simultaneously. If you’re fully hedged, you will have long and short positions open in equal volumes.
Having hedged positions will reduce your total margin requirement. For fully hedged positions no margin will be required. In case the market moves against your positions and your Equity falls below zero, your positions will be stopped out by our Automatic Risk Management System, beginning with the position holding the greatest loss.
When is rollover time?
Rollover time is around the New York closing time. All positions left open from 23:59:45 EET to 23:59:59 EET will be rolled over to a new value date.
Where can I apply for a Live account at GKFX?
Please have a look at our main homepage where you will find the link to open a Live account. The application is online and you will need to fill in all required details. You will receive information about all required documents at the end of the online application.
For further assistance you can contact our local Sales team
What is the password I need to use to login to the MetaTrader 4 (MT4) platform?
The password for your trading account on the MT4 platform is the same as for the online portal MyGKFX.
When you first open an account with GKFX we send you a temporary password and a temporary MyGKFX username to the email address you registered with. You must log into the online portal MyGKFX with your temporary password and username to create a new permanent password and username of your choice.
The new password can be used on the MT4 platform as well as on MyGKFX.
What happens if I forget my password?
If you forget your password our support team can re-set it and send a temporary one to your registered email address. You will need to log into the online portal MyGKFX, using your permanent username and the temporary password, which will prompt you to create a new password immediately.
The new password will provide you access to your trading account on the MT4 platform as well as to the online portal MyGKFX.
What is the MyGKFX username?
When you first open an account with GKFX we send you a temporary MyGKFX username and a temporary password to your registered email address. You must login to the online portal MyGKFX with your temporary username and password to create a new username and password of your choice.
The username you choose will become your permanent MyGKFX username. If you forget your username our support team can send a reminder to your registered email address.
How can I start trading?
Once you received the login details to your live account, you will need to download and install the MT4 platform. In case you haven’t downloaded it already you will find the download link in our online portal MyGKFX (Extras > Platforms).
After funding your trading account you are ready to start trading. You will find all deposit options in MyGKFX
as well (Deposit).
What is my MT4 Login Number?
This will be your account number and we will send this number to your registered email address once your account is live.
If you do not remember your platform login number our support team can send you a reminder.
Please contact us on firstname.lastname@example.org
How can I login to the MT4 platform?
Once you have downloaded the MT4 platform (hyperlink) you will need to open it. Navigate to the menu bar File > Login to Trade Account and a login window will appear on the screen. Enter the following details:
Login: [Your MT4 login number]
Password: [The same password you use to login to the online portal MyGKFX.]
Server: [Select the server from the drop-down menu which correspondences to your account type.]
If you wish to save your account details, tick the box right below the Server selection and click on Login.
What server corresponds to my account type?
In the welcome email confirming your account number, we specify the server name as well. You will need to select the following server names for:
Micro Fix: GKFX-FX-CFD Live
Standard Fix: GKFX-FX-CFD Live
Standard Variable: GKFX-Standard
Spread betting: GKFX-Spread-Trading Live
Standard Fix: GKFX-Demo
Standard Variable: GKFX-Demo-2
Spread betting: GKFX-Demo
In case you have difficulties connecting to our servers with the server names mentioned above, you can use the corresponding DNS server address. You will need to over-write the server name in the login window with one of the specified DNS server addresses mentioned below.
Spread betting - DNS Servers: (only UK website)
Asia and Pacific – DNS Servers: (only Chinese website)
Standard Fix - DNS Servers:
Standard Variable - DNS Server:
Demo Standard Fix/Spread Betting - DNS Server:
Demo Standard Variable – DNS Server:
How do I know that I am logged in to my trading account on the MT4 platform?
You will know if you are logged into your account when the connection bars are green (or green/blue) at the bottom right-hand corner of your screen. Alternatively, you can open the Market Watch window where the prices will move during market hours.
If the bars are still displayed in red, make sure that you entered your password case sensitive and without any empty spaces as well as check the selected server in the login window.
Please note that the password must be the same you use to login to our online portal MyGKFX. If you need to re-set your password or if you need a reminder of your account/login number, please contact our support team at email@example.com
What is an investor password and how do I create one on the MT4 platform?
The investor password gives you limited access to look through charts, perform technical analysis and test Expert Advisors. You cannot trade with an investor password, but you can allow someone else access to view your account by giving them your investor password. (Please note, be always very careful to whom you provide your investor password!)
It can easily be created on your platform by following these steps:
- Login to your trading account in File > Login to Trade Account.
- Navigate to Tools > Options and select the Server tab.
- Click on the button ‘Change’ next to the password box.
- Confirm your (main) password in the ‘Current password’ field.
- Select ‘Change investor (read only) password’.
- Enter the new investor password in the ‘New password’ and ‘Confirm’ fields.
Will I receive account statements confirming my trade history?
Yes, statements will be sent to your registered e-mail address confirming your daily trading history. On days you did not trade you will not receive a statement. However, once a month you will receive an account statement, regardless of your trade activities.
What do I do if I don’t receive my MT4 Demo login details?
We send your MT4 Demo account login and password to the email address you provided on your application form.
If you don’t receive the email after you’ve completed the registration form, please check your spam (junk mail) folder.
If you cannot find it in your spam folder either, please contact our Support team at firstname.lastname@example.org
Does my Demo account expire?
Demo accounts on MT4 will expire after 30 days if you do not trade actively on a regular basis. However you can always reply for a new one on our homepage
Is trading different on MT4 Demo and Live accounts?
Please note that the market prices should be the same as on our live accounts. However, not all products will be offered on our Demo accounts. The Demo account should provide you a good overview on GKFX’S main products but more importantly, how the MT4 platform operates.
Please be aware that all of our Demo account servers can be used for testing purposes and may show differences from the live environment from time to time.
What does the lot size stand for?
The lot size refers to the volume you select in order to place a trade on your account. Depending on the product you select the lot size helps you to estimate the margin requirement to open a trade. Technically spoken, ‘lots’ refer to the volume traded on FX pairs. All details for each individual product offered at GKFX are specified in our MIS sheets
on our homepage
Why were my orders being stopped out automatically?
There are different possibilities why an order will be stopped out automatically. It can be related to a set stop loss or take profit the market exceeded and closed your position.
However, if your Equity falls below 10% of the required margin your positions will be closed out by our Automatic Risk Management System, beginning with the one holding the greatest loss. Positions will be closed out until your Equity gets above the 10% margin requirement again. Please note, in case your open positions are fully hedged your positions will be closed out automatically, if your Equity gets below zero.
What are swap fees?
You may be subject to overnight financing fees (swap fees) if you leave your positions open past 10 pm UK time. If you keep your positions open overnight we will automatically roll your positions and charge or credit you with an overnight financing fee depending on the product you are trading and whether you are long or short the positions.
Further details are specified on our homepage
Please note that on a Wednesday night FX and precious metals positions’ financing fees will be charged or credited for 3 days as the spot value date will change from Friday to Monday.
What are Index and Equity dividends and why are they applied on my account?
At GKFX we quote a rolling cash price for the majority of our indices. Therefore whenever a company posts a dividend, it will affect the price we quote. If the company is a constituent of an index it will affect the price index as well.
For example, if BP was to pay a dividend it would affect the company’s share price because it has paid out profits to its shareholders. BP’s share price will automatically fall by the value of the dividend.
Since BP is also a constituent of the UK100 index it will cause this index to fall depending on the percentage weighting that BP has within the UK100.
Information on a public company’s dividend payments will be available online.
If the dividend is due to be paid on a Wednesday then we will pay our dividends based on positions held on the Tuesday which is the day before the ex-dividend date, after the market has closed. The individual stock dividend would be applied at 16:30 UK time and the index at 21:00 UK time.
If you were long BP you would be credited the dividend value of your position.
The principle is the same if you were short, and you would be debited the dividend value as you would benefit from the stock falling in value due to the dividend paid. Either way you are no worse or better off as the cash adjustment compensates for the reflected price movement.
Clients holding indices will also face an adjustment. However due to an individual stock being part of a basket of stocks in an index, the impact of its dividend on the index price will be less significant, and is determined by its weighting in that index.
Depending on the currency denomination of your account this may affect the value of any cash adjustments made as these will have to be converted into the relevant exchange rate.
What does gapping refer to and why does it happen?
Gapping refers to very volatile and illiquid markets, where the price feed may jump to the next price level instead of a smooth market movement. Unfortunately, no market is immune to gapping, however it may happen more often during important news announcements or on more exotic markets. We will endeavour to fill you at the first price available to us when this situation occurs.
Where do I find an overview on all products GKFX offers?
All products available to trade on your selected account type will be displayed in the Market Watch window on the Mt4 platform. In case you cannot see the complete list, you will need to do a right-click into the Market Watch window and select ‘Show all’.
You can look up the symbols on our Market Information Sheets. The Market Information Sheets also contain trade information such as minimum and maximum trade size, margin requirements, and spreads for all the products we offer across the FX, Metals, Indices, Commodities and Equities markets. Please visit our trading and products page or see our Market Information Sheets
What oil products do you offer and how can I trade this CFD contract?
GKFX offers two different oil contracts – WTI and BRENT, quoted in USD per barrel. Those CFD contracts are based on futures and will expire each month on a pre-set date. The expiry date will be confirmed on the trade ticket in the Market Watch window (hover across the symbol to find the detailed information).
The symbols for Brent and WTI markets are quoted each month with a letter and number that represents the month and year of expiration:
January (F), February (G), March (H), April (J), May (K), June (M), July (N), August (Q), September (U), October (V), November (X), December (Z).
We will also leave the BRENT and WTI symbols on the MT4 platform so that you can view historical price information, though you will not be able to trade on those symbols. You will only be able to trade on the monthly contract symbols.
A week before expiry the next monthly contract will be shown on the MT4 platform which will allow you to manage your open positions on the old contract and open new positions on the new contract.
If you do not close your position before the end the trading day of the expiry date, they will be closed out on the official settlement price.