- #
Knowing where to find the information that you need and having the confidence that you can find the answers to your trading questions could be very helpful with your day-to-day trading. Use these comprehensive Forex Trading FAQs to learn all the basics as well as the more advanced topics in forex trading. We’ve covered the lot from how to open a forex trading account to how to use the MetaTrader trading platform, Forex trading system and more. Whether you’re new to trading FX or you have several years of experience trading currencies, you will find a lot of useful information in these FAQs.
Below you will find an extensive list of answers to your Forex trading questions.
Please use the following link to begin your live trading account application – Open a live account
Most applications are processed automatically. For those with more complex setups, we aim to reach out within 24 hours.
You will enjoy tighter spreads on Forex products with a GO Plus+ account. However, there will be a commission for every Forex trade you place on a GO Plus+ account.
See here for a full comparison of the differences between trading account types.
You can hold your funds in one of the following base currencies: AUD, USD, GBP, EUR, NZD, SGD, CHF, CAD, and HKD.
Please refer to our Funding and Withdrawals page for the list of acceptable deposit methods.
Please login to your Demo Client Portal and follow the withdrawal procedures.
We aim to process all withdrawal requests received before our cut-off time of 1pm AEST on the same day. Those withdrawals received after 1pm AEST will be processed the following day. While it largely depends on the recipient’s bank, local transfers may take 1-2 business days, and international transfers may take 3-5 days for your funds to be cleared.
The starting deposit is $200 on Standard accounts and GO Plus+ accounts.
Demo does not charge any internal deposit fees using Visa/Mastercard, Skrill, Neteller and bank transfer.
Demo does not charge any internal fees for withdrawals, however, fund withdrawals to non-Australian banking institutions may be subject to bank fees from any intermediary bank involved in the transaction and may attract a receiving fee from your bank/institution. Please account for these fees when making withdrawals of a small amount.
You can update your details via your Client Portal.
Alternatively, please email # or contact us via chat and we will update your account information for you. Please note that if you are updating your address details, we require a recent bank statement or utility bill issued within 3 months and which shows your new address.
You can change your password on Demo’ Client Portal.
Alternatively, you can change the password directly from your MetaTrader 4 trading platform. Click on Tools > Options and look for the Server tab. Click on the Change button to change your master or investor passwords.
Please do not share your password with anyone.
You can perform a password reset directly from the login page of the Client Portal. Alternatively, you can call Demo on #.
For security purposes, you will be required to provide some personal details to help verify your account.
Yes, Demo is authorised and regulated by the Financial Services Commission (FSC).
Yes. There is a MetaTrader 4 app for Google Android and Apple IOS. You can search for Metatrader 4 on either Google Play or Apple App Store. See here for more information on mobile trading platforms.
Margin in CFD trading refers to the amount of money required to open and maintain a leveraged position.
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 our 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 AUD, GBP, NZD etc.
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 – running 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 multiplier used to calculate the size of trades you can open on forex and XAUUSD symbols. The higher the leverage value the lower amount of margin required for your trades.
Example
If you have leverage of 30:1, you can control a large position of $300,000 on EURUSD with a margin of $10,000.
Please consider which leverage rate is appropriate for you. It is important to understand the concept of leverage and how it may impact your trading. Some less popular currencies can attract a higher margin rate irrespective of your account leverage.
To change to your leverage please login to our Client Portal and select Change of Leverage on the desired account.
The maximum leverage is 500:1
You can view the current swap rates directly on the platform under the product specifications.
If you hold a position overnight on a Wednesday, the swap is multiplied by three (3) times. This accounts for the settlement of your open position(s) for the proceeding weekend. This is because it takes two days for forex transactions to settle in the underlying market.
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 use bid price to construct the chart in all available periods.
The time on our platforms is shown as Eastern European Time (EET).
During Daylight-Saving Time, EET is 3 hours ahead of Greenwich Mean Time (GMT +3).
During Standard (Winter) Time, EET is 2 hours ahead of GMT (GMT +2).
It cannot be changed on your platform.
The charts will display the BID price by default which is the (SELL) price. When you enter a short position, you open at the bid price and to close this trade you need to close at the ask price. The ASK/BUY price is not reflected on the historical charts.
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.
We have over 1000 markets to trade ranging from forex, metals, indices, shares, cryptocurrencies and bonds across a variety of platforms. We are expanding the list as markets evolve.
Yes, you can trade 0.01 lots on forex which is a micro lot.
No, we do not prohibit any trading styles and you can open and close your positions as often as you like so as long as it is in line with our T&C’s.
No, we do not.
Our demo accounts last for 30 days. You will not be able to access it 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.
Most of the time, it simply means the platform is not able to log you in or is not connected to the trading server.
To reconnect, you can click on File > Login to Trade Account and follow the prompts to log in. If you need to reset your password, you can do this via the Client Portal.
If you do not 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 only sent out if you have some trading activity on the previous day or are holding any open positions. 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 trading platform, you can head to your account history tab, 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, our platforms support multiple simultaneous logins to the same account. So, you can leave your desktop 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. Most custom indicators and expert advisors will have their own installation manual.
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 Meta-Quotes community.
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.
Should you experience any problems with closing your positions either by not being able to log in or technical issues, contact our support team at your earliest convenience who can close your positions for you. You can contact support 24/7 via # or reach out via Live Chat.
In just minutes we can verify your identity and create your account.
Deposit via debit card or bank transfer to start trading.
Take a position in your choice of instrument.
