Lot Sizes:
You can trade in FX pairs from 0.01 lots to a maximum of 25 lots as standard. One full lot equates to 100,000 of the base currency. You can edit the trade volume by typing it manually or by selecting from the drop-down list.
Decimal Placing:
Please note the GoTrader4 utilises a 5 decimal point pricing system (3 decimals on JPY pairs) to ensure the most accurate and tight spreads are on offer. Please note when referring to the number of 'pips' the fourth (second for JPY) decimal is the most relevant.
When setting a stop loss you may be required to set a stop loss 50 points away equating to 5 pips.
Chart Pricing:
Please note all charts show bid prices only. When reviewing charts for order execution queries it is important to factor the spread into your calculations. The Open/Close/High/Low are all bid prices.
Market Execution:
Please note the MT4 platform operates using 'market' execution. This means you will be able to enter/exit positions without delay, even in fast moving markets. Please note the message 'Notice! At order by market execution, the price will be quoted by dealer.' is not valid as we do not operate a dealing desk and all order execution is automatic. With 'market' execution you must enter the trade and then place any required stop loss/take profit orders.
Margin Calculations:
Margin requirements are determined by your account leverage and the currency pair you are trading. On standard 100:1 leverage the margin requirement for a full lot will be 1,000 of the first named currency. For example, when trading 1 lot (100,000) of AUDUSD, the margin would be $1,000.
There is an automated stopout procedure designed to close positions before an account falls into negative equity. When the margin level falls below 100% an account is viewed as being on margin call.
If you fall below 80% you will see a visual reminder to remind that you are on margin call. If the account falls below 50% the greatest losing trade(s) will be closed automatically until the account is back above 50%.
Expert Advisors:
EAs are automated trading tools. GO Markets does not endorse or recommend any EAs. Go Markets allows the use of Expert Advisors but under no circumstances accepts any responsibility as to the performance, reliability or operation of these EA's. Traders using an EA do so at their own risk. Please conduct appropriate research before using any EA and please be aware of how it operates and the parameters it adheres to. As mentioned above, the GoTrader4 utilises a 5 decimal point pricing system, so please make sure your EA does accept the 5 decimal point system. If for some reason you're EA does not accept the 5 decimal point system, please contact your EA provider.
Swaps:
Swaps are charged on a daily basis with a 3-day swap on a Wednesday. Traders will pay or accrue interest in accordance with the current GO Markets rates. To obtain the Swap rates, right click in your market watch, click on symbols, select the currency pair & click on properties. You will see Swap long & Swap short; this is based on 1 contract. The swap rates are derived from a number of sources. GO Markets have the right to change these rates without notice.
Reports:
GO Markets do not send out Client trading statements. You can print off trading statements by right clicking in your account history & selecting a custom period, e.g. 01/06/07 - 31/07/08. You can then save the report & print it for your perusal. |
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