Smart Live Markets - Spread Bet on MT4

I'm trying to pick a platform to try Forex on. Spreadbetting is obviously ideal for tax reasons so I've been trying GKFX's MT4, and they say you can place trades in multiples of £0.10 pence. But whenever I place a trade it seems to show different profits and pips in the trades windows. For example, if I place a 0.10 trade, it acts as if I've placed a £1 trade, and if I place a 1.0 trade, it acts as if I've placed a trade worth £10 per pip. What is your experience? Is this something wrong with MT4 or am I being stupid?

Thanks folks.
 
When you place a trade in MT4, the box says 'bet per 0.0001' for example. So if you enter a buy 0.10 (i.e. 10p) and the price moves from 1.5675 to 1.5676 then you have gained 0.10. Does that help?

Z
 
zorba_g said:
When you place a trade in MT4, the box says 'bet per 0.0001' for example. So if you enter a buy 0.10 (i.e. 10p) and the price moves from 1.5675 to 1.5676 then you have gained 0.10. Does that help?

Z
Click to expand...

That's the way it should be, but the profit appears to be showing profits or losses 10x what it should be based on my pip value I chose. If i pick 0.10, it shows profits or losses of £1 for each 1pip movement, and if I chose 1.0, it shows profits and losses of £10 or more almost instantly on barely any movement.
 
It is definitely the spread trading demo. I have taken a screenshot so you can see exactly what I have entered. My currency should be £ as far as I'm aware. If you look at the screenshot below you can see the price I sold at, the current prices, the gains and the size I put on (1.0 or £1). Any thoughts?

http://oi44.tinypic.com/b516cz.jpg
 
I'm lost I guess. I still have smart live markets MT4 which shows EURUSDSB and not EURUSD, so I would double check it's not a normal forex account, especially given your profit versus pips gained. Do you know hour to calculate a normal forex lot? Check out the school on Babypips, it's very good. We're at the limits of my knowledge now I think, as spread betting is so much simpler to calculate. The flip side is that some EAs and indicators do not work quite right with it.
I hope that helps.
Z
 
Question for 'replemished' i noticed your running through wine and ubuntu, which i am too, have you noticed any lagging or freezing around the hour and times such as us open, im trying to work out if its an issue with using wine, or my setup.
cheers
mark
 
replemished said:
It is definitely the spread trading demo. I have taken a screenshot so you can see exactly what I have entered. My currency should be £ as far as I'm aware. If you look at the screenshot below you can see the price I sold at, the current prices, the gains and the size I put on (1.0 or £1). Any thoughts?

http://oi44.tinypic.com/b516cz.jpg
Click to expand...

Like already mentioned i think you have the normal fx platform. With the Spreadbet platform all instruments have the 'SB' suffix (EURUSDSB, UK100SB, BRENTSB etc).
 
piggybridges said:
I'm confused by this trade that appears to have happened whilst I was at work? Am I going mad? A losing trade that was stopped out at a 'profit target' that I don't think I ever actually input?
trades with that little green box in the TP column are always winners, no??

I'm probably being stupid as my brain is fried at the moment from working like a dog at my dayjob (hence not trading futures contracts at the moment).
Click to expand...

did you get to the bottom of this? I assuming you got in touch with GKFX. I ask becuase I use them myself & was just wondering if the problem was on their side?

cheers Rich
 
Last edited:
These clowns just slipped me more than 8 pips on a Dax trade.

What is frustrating is that I would normally have taken my profit at about 40 points, but let it ride and moved stop to b/e which was subsequently hit. So It turned from being a winner on almost every other situation, to being a b/e trade, but because they slipped me it ends up being a loser.

Right through the full spectrum lol.
 
Last edited:
YouAreNotFree said:
These clowns just slipped me more than 8 pips on a Dax trade.

What is frustrating is that I would normally have taken my profit at about 40 points, but let it ride and moved stop to b/e which was subsequently hit. So It turned from being a winner on almost every other situation, to being a b/e trade, but because they slipped me it ends up being a loser.

Right through the full spectrum lol.
Click to expand...

Fair do's.

Emailed them and got a those pips refunded + a gesture of goodwill.

They did me well(y)
 
Speaking to other traders and from personal experience, SLM do seem to have cleaned up their act since they became GKFX.

Switched back from FXCM now.
 
I'll post a positive on GKFX, seeing as I recently posted a negative recently ( which they resolved to my satisfaction).

I had a pending order in earlier for a dax short. 5m tf b/o trade. Bad factory news came out from Germany and it it shot down 25pts in a super quick fashion. I didn't get slipped a single pip.
 
YouAreNotFree said:
I'll post a positive on GKFX, seeing as I recently posted a negative recently ( which they resolved to my satisfaction).

I had a pending order in earlier for a dax short. 5m tf b/o trade. Bad factory news came out from Germany and it it shot down 25pts in a super quick fashion. I didn't get slipped a single pip.
Click to expand...

Does that make up for the platform crashing so many times yesterday?
 
Down again just now.

Have you asked them for an explanation?

If not, I'll email them. That needs sorting.
 
Hello everyone, haven't been on T2W for a while but I'm in bed with Flu (man version) so uncharacteristically I'm swooping around the net and T2W in particular today - and I would just like to add that I've been using SLM/GKFX for more than a year now and I've had no probs at all. Nothing. Zilch.....

I mainly just trade in the evening from 5:30/6:00pm (UK time) onwards and never trade around news announcements (as detailed on F/Factory) or on NFP day. I will usually only have one/two/three trades per evening and maybe once a week I'll sneak in a few trades during the day when no-one is around in my office at work.

I used to trade with Cap Spreads and I found they were ok as well - totally against all concensus on this forum.

What's wrong with me ? I have NO connections to any SB companies, just a simple, low activity spread bettor

Cheers Grant.
 
GrantD said:
Hello everyone, haven't been on T2W for a while but I'm in bed with Flu (man version) so uncharacteristically I'm swooping around the net and T2W in particular today - and I would just like to add that I've been using SLM/GKFX for more than a year now and I've had no probs at all. Nothing. Zilch.....

I mainly just trade in the evening from 5:30/6:00pm (UK time) onwards and never trade around news announcements (as detailed on F/Factory) or on NFP day. I will usually only have one/two/three trades per evening and maybe once a week I'll sneak in a few trades during the day when no-one is around in my office at work.

I used to trade with Cap Spreads and I found they were ok as well - totally against all concensus on this forum.

What's wrong with me ? I have NO connections to any SB companies, just a simple, low activity spread bettor

Cheers Grant.
Click to expand...

You're obviously delirius. See a doctor immediately.
 
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