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Company Profile

FAQ

This page reveals the answers to our Frequently Asked Questions.

General

What protections do GKPro clients not get?
Disclosures – You may not be given any of the additional disclosures required to be provided to retail clients (for example on costs, commissions, fees and charges and foreign exchange conversion rates).

Appropriateness – Where we assess whether a product or service is appropriate for you, we can assume that you have the necessary level of experience and knowledge to understand the risks involved, and assume that you are able financially to bear any investment risks consistent with your investment objectives.

Order execution – Our order execution requirements for professionals may differ to the regulatory order execution requests for retail clients.

Prompt execution – We do not need to inform you of material difficulties we may have or encounter relevant to the prompt execution of your orders.

Client money and Title Transfer Collateral Arrangements – The terms of our Agreement with you provide that we will hold your money under a Title transfer arrangement and not as Client Money under FCA rules. Funds belonging to Professional Clients who have consented to at ‘title transfer’ of their funds to GKPro, are not held in segregated accounts. In accordance with CASS 7.11 client money rules, you, the client, herby agree and give the right to GKPro to hold your funds within a non-segregated bank account under a title transfer financial collateral arrangement. Under this arrangement, title to all funds will transfer to GKPro as soon as they are received by the firm.
In which base currencies can I hold my account?
You can choose your account base currency between GBP, USD and EUR.
Does GKPro charge commission?
Depending on the account type you hold with GKPro, some products are liable to commission. All commission charges will be clearly stated in your daily/monthly statements.
What is the leverage set on my trading account?
At GKPro the leverage is set individually for each product we offer for trading. Those settings apply on our Live. A detailed overview can be found in our MIS sheets (Market Information Sheet) on our homepage.
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.
Do I have to pay tax on my profits?
GKPro 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 GKPro regulated?
GKPro 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 can I get a tax statement for the year for my trading account?
We will provide you with an official statement of the trading activity on your account. If you need a tax statement, please contact our Client Services team per email support@gkpro.com, quoting your account login number(s) and the tax year you require the statement for.
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
E-mail: support@gkpro.com
Postal: GKFX – Client Services
Bevis Marks House
24 Bevis Marks
London
EC3A 7JB

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:

Compliance Officer
GKFX – Compliance
Bevis Marks House
24 Bevis Marks
London
EC3A 7JB

Telephone: +44(0)207 186 1251
E-mail: compliance@gkpro.com 

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:

The Financial Ombudsman Service
Exchange Tower
London
E14 9SR
Telephone: 0800 023 4567
Website: http://www.financial-ombudsman.org.uk/

Trading

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 GKPro 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 GKPro 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.

 
What is the maximum trade volume I can place?
The maximum volume you can trade depends on the type of account you hold and your available margin. You will find further details in our MIS sheets on our homepage.
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.
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.
How close to the current price can I place stop and limit orders?
The minimum distance is always specified in the New Order window. It depends on the individual trading product and the opening price cannot be placed within the minimum spread.

The details about our minimum spreads are specified in our MIS sheets on our homepage
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.
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.
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).

GKPro 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.
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.)

GKFX FAQ MT4 trailing stop
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!)

Account

Where can I apply for a Live account at GKPro?
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 MyGKPro.

When you first open an account with GKPro we send you a temporary password and a temporary MyGKPro username to the email address you registered with. You must log into the online portal MyGKPro 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 MyGKPro.
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 MyGKPro, 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 MyGKPro.
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 support@gkpro.com.
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 MyGKPro.]
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:

Live:
Micro Fix: GKFX-FX-CFD Live
Standard Fix: GKFX-FX-CFD Live
Standard Variable: GKFX-Standard
VIP: GKFX-Standard
Spread betting: GKFX-Spread-Trading Live

Demo:
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)
ukdc1.gkfx.com:4733
ukdc2.gkfx.com:4733
ukdc3.gkfx.com:4733
dedc1.gkfx.com:4733

Asia and Pacific – DNS Servers: (only Chinese website)
cndc1.gkfx.com:443
cndc4.gkfx.com:443
inddc2.gkfx.com:4433
ukdc2.gkfx.com:4433
ukdc3.gkfx.com:4433
ukdc1.gkfx.com:4433
cndc2.gkfx.com:443
dedc1.gkfx.com:4433

Standard Fix - DNS Servers:
ukdc1.gkfx.com:4533
ukdc2.gkfx.com:433
ukdc3.gkfx.com:4533
ukdc4.gkfx.com:433
dedc1.gkfx.com:443

Standard Variable - DNS Server:
dedc2.gkfx.com:443

Demo Standard Fix/Spread Betting - DNS Server:
ukdc1.gkfx.com:443
ukdc2.gkfx.com:4633
ukdc3.gkfx.com:4633
ukdc4.gkfx.com:4633
dedc1.gkfx.com:4633
inddc1.gkfx.com:4633
inddc2.gkfx.com:4633

Demo Standard Variable – DNS Server:
mt4demo2.gkfx.com:443
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 MyGKPro. 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 support@gkpro.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.
What should I do if I have lost my trading account login details?
If you need to retrieve the login details for your account(s), please contact our Client Services team and confirm your:
 
  • Full name
  • Registered email address
  • Full address (including postcode)
  • Date of birth
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.

Orders

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 GKPro 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 GKPro 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.

GKPro and GKFX are registered trademarks of GKFX Financial Services Limited © 2019 GKFX Financial Services Limited – all rights reserved.

The products that GKPro offer on this website, are aimed at professional and institutional clients ONLY. We offer leverage products and the fast moving nature of markets means that you can lose funds rapidly. GKPro is not able to give advice to prospective clients about the appropriateness of our products. Prospective clients are recommended to seek specialist tax and financial advice before investing in any of our products.

RISK WARNING

CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk. Please consider whether you can afford to take high risk of losing your money. See our full Risk Warning and Terms of Business for further details.

Apple, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc. Android is a trademark of Google Inc. 

CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk. Please consider whether you can afford to take high risk of losing your money. See our full Risk Warning and Terms of Business for further details.

CFDs and FX are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk. Please consider whether you can afford to take high risk of losing your money. See our full Risk Warning and Terms of Business for further details.