FAQs

Q: What is Foreign Exchange?

A: The Foreign Exchange market, is also referred to as the "FOREX" or "Forex" or "Retail forex" or "FX". Since 1999, Forex has been available to the retail traders. The Forex market is the world's largest financial market with an average volume of $3.2 trillion per day. If you compare that to the $50 billion traded daily by the New York Stock Exchange you can easily see how enormous Forex really is. (Source: Bank for International Settlements, September 2007)

Please note: In the off-exchange, also called the over-the-counter market, a retail customer trades directly with a counterparty and there is no exchange or central clearing house to support the transaction.

Q: When is the Forex market open for trading?

A: The Forex market is a true 24-hour market - at any time of the day, somewhere around the world a financial center is open for business. Banks and other institutions exchange currencies every hour of the day and night with generally only minor gaps on the weekend. Forex trading begins at 14:15 Eastern Time Sunday markets open in Sydney and Singapore. At 19:00 Eastern Time the Tokyo market opens, followed by London at 2:00 Eastern Time. And finally, New York opens at 8:00 Eastern Time and closes at 17:00 Eastern Time - creating a seamless 24-hour market.

A benefit of Forex trading, unlike other financial markets, is that investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day or night. Gold-4X' trading hours are 17:15 Eastern Time Sunday to 16:30 Eastern Time Friday. 

Q: What are the most commonly traded currencies in the Forex market?

A: The Dollar is the most traded currency, being on one side of 86.3% of all transactions. The Euro's share is second at 37%, while that of the Yen is at 16.5%.

The most popular currencies along with their symbols are shown below:

Symbol

Country

Currency

USD

United States

Dollar

EUR

Euro Members

Euro

JPY

Japan

Yen

GBP

Great Britain

Pound

CHF

Switzerland

Franc

CAD

Canada

Dollar

AUD

Australia

Dollar

NZD

New Zealand

Dollar
 
Q: What is margin?

A: Margin is the collateral for a position. It allows traders to take on a loan or 'leverage' their positions with a fraction of the equity needed to fund the trade. It is important to note that higher margins can increase your risk.

Q: What does it mean to have a "long" or "short" position?

A: A 'long' position is to buy a currency at one price with the intent to sell later at a higher price. With this strategy, the trader benefits from a rise in the market. While a "short" position is one which the trader sells a currency in the anticipation that it will decline in price. This strategy allows the trader to gain from the decline in the price of the currency pair.

Q: What do terms like "bid/ask," "spread," and "rollover" mean?

A: All Forex quotes include a two-way price, the bid and ask. The bid is always lower than the ask price.

Bid Price
The price at which the market is willing to buy a currency. This is the price at which the trader may sell the base currency.
Ask Price
The price at which the market sells a currency. This means the trader can buy the base currency at this price.
Spread
The spread is the difference between the bid and ask price. A wider spread will increase your transaction cost and potentially reduce your profits. With Gold-4X, the only cost in executing a trade with us is reflected in the bid/ask spread, which is the pip spread.

Gold-4X offers fixed spreads during normal market conditions. At any point in time during normal market conditions, the Forex Calculator in MetaTrader4 will reflect the exact amount of the spread. There is no guesswork. With fixed spreads you can stay focused on timing the market and not having to time the spread.
Rollover
Rollover involves exchanging the expiring position for a position expiring the following settlement date. The positions being exchanged are not valued at the same price. If a trader is long the currency bearing the higher interest rate, the position "being sold" is worth more than the position being acquired. The reverse is also true; if a trader is short the currency bearing the higher interest rate, the trader is acquiring a position worth more than the one "being sold". The amount of the difference varies based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day.

As a service to our traders, Gold-4X automatically rolls over all open positions to the next settlement date at 17:00 Eastern Time.

Q: What is the difference between an "intraday" and "overnight" position?

A: Intraday positions are those that were opened anytime during the 24-hour period and closed by the close of the trading day— 17:00 Eastern Time. An overnight position is any position which stays open past the end of normal trading hours— 17:00 Eastern Time. These positions are automatically rolled by Gold-4X at competitive rates to the next day's price.

Q: What happens to my open positions at the end of the trading day?

A: Trades held open at the end of the trading day, 17:00 Eastern Time, remain open but are subject to a daily "cost-of-carry" adjustment as per standard interbank market protocol. The adjustment is based on the interest rate differential between the two currencies in the pair being traded and on the movement of spot value dates.

If a trader is long (has bought) the currency bearing the higher interest rate then they will generally receive a credit to their account at 17:00 Eastern Time. If they are short (have sold) the higher yielding currency then their account will be debited.

Q: How are currency prices determined?

A: Currency prices are affected by fluctuations caused by economic, social and political events, as well as interest rates, inflation and political stability. Gold-4X leverages its proprietary interbank market price feed for price discovery and risk exposure. Our price feed uses algorithms to respond to changes in the marketplace within milliseconds, allowing Gold-4X to maintain fixed spreads so trading clients know the transaction costs they will be paying at all times during normal market conditions.

Q: How do I manage risk?

A: To manage risk, traders must have position limits. This number is set relative to the money in a trader's account. Risk is minimized with Gold-4X because the trading platform will automatically generate a margin call if your equity falls below the margin reguired to maintain all existing positions. All open positions will be closed immediately, regardless of the size or the nature of positions held within the account.

ABOUT GOLD-4X

Q: What are your commissions and fees?

A: As a Forex trader with Gold-4X, you are dealing directly with the market maker in an electronic exchange, and that eliminates ticket cost and brokerage fees. The only cost in executing a trade with us is reflected in the bid/ask spread.

Q: Can I trade on fixed spreads?

A: Yes, below are the spreads for respective currency pairs that are offered to Gold-4X' customers during normal market conditions:

Forex Symbol

Currency Pairs

Spreads

AUD/CAD

Australian Dollar / Canadian Dollar

9 pips

AUD/CHF

Australian Dollar / Swiss Franc

10 pips

AUD/JPY

Australian Dollar / Japanese Yen

7 pips

AUD/NZD

Australian Dollar / New Zealand Dollar

20 pips

AUD/USD

Australian Dollar / U.S. Dollar

4 pips

CAD/CHF

Canadian Dollar / Swiss Franc

10 pips

CAD/JPY

Canadian Dollar / Japanese Yen

9 pips

CHF/JPY

Swiss Franc / Japanese Yen

8 pips

EUR/AUD

Euro / Australian Dollar

12 pips

EUR/GBP

Euro / British Pound

5 pips

EUR/CAD

Euro / Canadian Dollar

9 pips

EUR/JPY

Euro / Japanese Yen

4 pips

EUR/NZD

Euro / New Zealand Dollar

25 pips

EUR/CHF

Euro / Swiss Franc

5 pips

EUR/USD

Euro / U.S. Dollar

3 pips

GBP/AUD

British Pound / Australian Dollar

12 pips

GBP/CAD

British Pound / Canadian Dollar

15 pips

GBP/CHF

British Pound / Swiss Franc

12 pips

GBP/JPY

British Pound / Japanese Yen

9 pips

GBP/NZD

British Pound / New Zealand Dollar

30 pips

GBP/USD

British Pound / U.S. Dollar

5 pips

NZD/JPY

New Zealand Dollar / Japanese Yen

10 pips

NZD/USD

New Zealand Dollar / U.S. Dollar

7 pips

NZD/CAD

New Zealand Dollar / Canadian Dollar

20 pips

NZD/CHF

New Zealand Dollar / Swiss Franc

25 pips

USD/CAD

U.S. Dollar / Canadian Dollar

5 pips

USD/CHF

U.S. Dollar / Swiss Franc

4 pips

USD/JPY

U.S. Dollar / Japanese Yen

3 pips

Q: What are your trading hours?

A: Gold-4X provides traders with customer trading support 24-hours daily Sunday from 17:15 to Friday 16:30 Eastern Time. Please note US holiday hours are posted the week of each major observed holiday on the homepage of the website.

Q: Does Gold-4X offer any additional services?

A: Gold-4X believes education is paramount. Our MetaTrader4 platform offers a wide range of trading tools, including real-time news feeds, Forex calculator that combines margin, pip and premium variables, audible price alarms and FX AccuCharts plug-in. Additionally, Gold-4X' market analysts provide commentary via our Chart of the Day (posted on the homepage of the website each weekday) and Market Directions (emailed and posted on the homepage of the website on a weekly basis).

Traders may consult their Trading History, Account Transactions Report or Individual Customer Statement within METATRADER4 & MetaTrader4 for account statements, summaries of current open positions and account balances.

Q: What are Gold-4X' margin requirements?

A: Unlike most of its competitors, Gold-4X' MetaTrader4 platform calculates margin in "real-time" based on the currency pair traded. With Gold-4X your margin will be determined by the amount of leverage you select within the Global Trading System platform.

Q: Can I place orders over the phone?

A: Yes, Gold-4X customers may place trading orders by phone. The dealing desk will quote the customer a two way price and the customer may deal on either side; the dealing desk will then confirm the trade back to the customer. After confirmation the dealing desk will enter the completed trade into the customer's METATRADER4 account.

TRADING SPOT METALS

Q: What is the trade size for Gold and Silver?

A: Gold is tradable in 1 oz. increments with a minimum trade size of 1 oz.. Silver is tradable in 100 oz. increments with a minimum trade size of 100 oz.

Q: If I have 400:1 leverage on my account, will I have to lower it to 200:1 to trade Gold and Silver?

A: No. If leverage is set on your forex account at greater then 200:1, Gold will calculate margin using 200:1, and Silver will calculate margin using 100:1. Forex transactions will still be calculated at the leverage you have selected. If leverage on the forex account is 100:1 or less, the entire account including Gold and Silver will be leveraged at the selected leverage.

Q: What are the trading hours?

A: Trading hours are 24 hours daily starting Sunday at 18:00 ET to Friday at 16:30 ET, except for 17:15 ET to 18:00 ET from Monday through Friday when trading is closed

Q: How does the end of day process work?

A: It works like forex, you either receive or pay financing charges (premiums). If you are long you will pay a financing charge of LIBOR +3%, if you are short you will earn LIBOR -3%.

Q: How is P/L calculated?

A: Gold is quoted in 1 cent increments. If you buy 1 oz. of gold at $915.23 and later close your position at $916.23, you would have a profit of $1.00. You may refer to the calculator in the platform to calculate your P/L in real time.

Q: Can I take delivery on Gold and Silver?

A: No this is a spot product that is continuously rolled over unless you close the position.

Q: Do I have to open a new account?

A: No, you can trade Gold and Silver in your existing Gold-4X account.

Q: Do I have to add margin to trade Gold and Silver?

A: No, you do not need to add margin.

ACCOUNT INFORMATION

Q: What is the difference between a practice and live trading account?

A: Gold-4X' Practice platform is fully functional with real-time bid/ask rates, news feed, and Forex Calculator. The software that you download for the Practice Platform is the exact software that you will use for the live account. The only major difference is there is no capital risk when trading within a demo account.

Q: How much money do I need to open an account?

A: The minimum deposit for a 1K Contract Size requires a $250 deposit. We have many account options to choose from.

Q: How do I open an account with Gold-4X?

A: Opening an account with Gold-4X is an easy 4 step process.

1. Complete an Application, (click here)

2. Provide 2 Forms of Identification:
    a. Government Issued Photo ID such as a Drivers License, Passport or National ID card
    b. Proof of Address such as a utility bill, bank statement or lease agreement

    New account paper work may be emailed or mailed.

    Email:
    sales@gold-4x.com

    By Mail:
    Gold-4X, LTD
    New Accounts Department
    
3. Fund Your Account Once your account is open, there are 5 convenient ways to fund your new trading account.
Please click here.
    a. Credit or Debit Card
    b. PayPal
    c. Online Check
    d. Wire Transfer
    e. Paper Check

4. Receive email notification of receipt of funds and activation of account. Email includes the user name and password to begin live trading.

For additional information regarding opening a live account, please contact us at +44

Q: How do I fund an account?

A: Once your account is open, there are 5 convenient ways to fund your new trading account.
Please click here.

    a. Credit or Debit Card
    b. PayPal
    c. Online Check
    d. Wire Transfer
    e. Paper Check

Q: What is the best way to send new account paperwork?

A: New account paper work may be emailed or mailed.

Email:
sales@gold-4x.com

By Mail:
Gold-4X, LTD
New Accounts Department

Q: How do I know if my account has been opened?

A: You will receive email notification upon account creation including your personal Gold-4X account number and instructions on funding your new account.

Q: When will my funds be posted to my account?

A: After receipt of the deposit at Gold-4X, funds may take up to 1 business day* to reach your account.
* Gold-4X does not guarantee deposit times in the event of a margin call.

Q: How long will it take to process my withdrawal request?

A: Withdrawal requests are processed the same business day if received by Gold-4X by 11:00 Eastern Time.

Q: How will I know that my withdrawal request has been processed?

A: Customers will receive email confirmation once their withdrawal request has been processed.

Q: When will I receive my withdrawal?

A: Check withdrawals are issued and mailed via United States Postal Service the next business day after the request has been processed.

A: Wire withdrawals are submitted to JP Morgan Chase Bank the same business day that the request has been processed by Gold-4X. Wires may take 24-48 hours to reach their beneficiary destination.

Q: How much does a withdrawal cost?

A: Check withdrawals are free of charge for the first four (4) requests per calendar month per customer. At the discretion of Gold-4X, each additional check withdrawal after the initial four (4) requests per calendar month may incur a $10 fee. Wire withdrawals are subject to a $40 bank fee which is deducted from the withdrawal amount.

Q: Am I eligible to withdraw funds?

A: Withdrawal eligibility is contingent upon whether or not customer deposit(s) have cleared. Clearing times are as follows:

Credit Card: 30 days
PayPal: 30 days
Check: 10 business days
Wire: same day
Electronic Check: 5 business days

Q: Do any restrictions apply to withdrawing funds?

A: There is a limit of four (4) check withdrawals per calendar month per customer. At the discretion of Gold-4X, a fee of $10 may be charged for each additional withdrawal request over that amount. There is no limit for wire withdrawals.

All funds withdrawn must be returned to a bank account under the same name as the account held at Gold-4X. No third party payments will be processed.

Q: Can I transfer funds into the account of another Gold-4X customer?

A: No - internal transfers are allowed only between a customer's own accounts. Requests for third party transfers will not be processed.

Q: How many transfers am I allowed to make?

A: There is a limit of four (4) internal transfers per calendar month per account. At the discretion of Gold-4X, a fee of $5 may be charged for each additional transfer request over that amount.

Q: Can I transfer funds into my Gold-4X account from another broker?

A: Gold-4X can only accept funds from other recognized (F)utures (C)ommission (M)erchants. Funds must originate from an account under the same name as the beneficiary account at Gold-4X. Requests for third party transfers will not be processed.

Q: How do I transfer funds to another broker?

A: Gold-4X may transfer funds to brokers who are (F)utures (C)ommission (M)erchant registered. To wire funds, provide the broker's bank information as well as your account number with the broker. To send by check, provide the mailing address for the broker as well as your account.

Q: What is considered a third party?

A: A third party payment is any transfer of funds that is in a name other than the account holder at Gold-4X.

Q: Does Gold-4X provide its clients with any tax forms?

A: Gold-4X provides customers with a complete account history available through your MetaTrader4 platform.

To run an Individual Customer Statement, simply log onto the MetaTrader4 platform. Choose Individual Customer Statement from the available reports. Each statement is for a period not to exceed 65 days in length. To run a statement for the entire year, you must reset the start and end dates of the search parameters in increments of 2 months each. Year End Tax Summary Reports are made available on the METATRADER4 platform for the previous year after December 31st.

TRADING PLATFORMS

Q: How many versions of the Global Trading System Platform are available?

A: Gold-4X currently offers the METATRADER4 trading platform. represents the most recent generation of the Global Trading System trading platform. However, traders can still use the METATRADER4 platform to trade if they currently have it installed on their computer.

Q: Do I need a different user name and password for each type of platform?

A: No, the same user name and password will work.