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To change any of the registered personal details in your trading account (displayed on the “Funds Management” / "Personal Information" screen), please contact us to explain the reason for this change and provide us with the relevant information, e.g. name change due to marriage, or change of residential address. We will then review and action your request in accordance with our regulatory requirements and obligations.
Funds deposited to your account must originate from a payment method that is in the same name as the Gotel trading account holder. Accordingly, we are obliged to verify and ensure that you are the legitimate owner of funds deposited to your account. Therefore, if you deposited by:
In order to verify your phone number, please go to the main trading screen on the Gotel platform → ”Menu” → “Account” → “Verify Account” → Click the “Verify” button below “Verify your phone” → Enter your number without the country code → Click on "Send me an SMS" or "Call My phone". You should receive a 3 digit code on your phone, please submit it via the phone validation window.
Customers are required to verify their accounts for identification and security purposes in accordance with our customer due diligence process, for example the verification of your name, date of birth, residential address, phone number, email address and payment method, etc.
The Tax Identification Number (TIN) is a personal number used for tax purposes in your tax country (i.e. the country in which you report your taxes).
The term used for TIN varies from one country to another, for example: Identification Number, National Insurance Number, Social Security Number, etc. Accordingly, you will be asked to supply your TIN information.
Depending on your country of residence, you may be able to request that a letter for address verification is sent to the Postal Address held on your trading account. In some countries, however, this service is not supported. To request this letter, log in to the Gotel platform, click on ”Menu” → “Account” → “Validate address” → “Send me the letter”. If you don’t receive the letter within 3 weeks, you should verify the accuracy of the address held on your account, and if necessary contact our support team.
Nonetheless, you will be required to provide us with a document (photo/scan of a utility bill/bank statement) in order to verify your address, in accordance with our regulatory obligations.
Make sure that you do not include your country code with the number, as the system automatically dials your country code according to your registration details (+44 for UK for example). In addition, prepaid phones cannot be verified by this process.
Any trading method which is prohibited under the terms of the User Agreement such as scalping, automated data entry system and hedging, or which falls under the definition of market abuse such as insider trading, as well as any prohibited activity such as an abuse of our bonus system, is not allowed on our trading platform. In such circumstances, we reserve the right to void all of your trades and/ or close your account. For more information, please read our User Agreement available on our website.
Customers cannot lose more than the funds they have on their account. The “Margin Call” feature exists in order to prevent your account from having a negative balance.
Yes, and it is completely free! You can receive notifications and alerts each time you open/close a position, when an instrument reaches a specific rate (price), prior to a Margin Call, etc. Using this service, you gain a certain degree of control over your Trading Account, even when you are logged out of the trading platform.
You can set notifications by clicking on "Menu" → "Account" → "Notifications settings" and choosing whether to receive them by email/SMS/ Push.
Please note that Push notifications are sent to every device you have ever used to log into your account. If you have used another person’s device to log into your trading account, this will result in push notifications being sent to that device as well as your own. In such case, you can contact Customer Support to request the removal of the third party device(s) from your trading account record.
Please note that these are notifications only, and in order to monitor your trading status and take any action such as opening/ closing a position you need to log into the trading platform.
Moreover, the notifications and alerts are not guaranteed, as they are delivered by third parties. You are solely responsible for monitoring the positions in your account, and taking any necessary actions, for example but not limited to: remitting funds and closing positions.
It is your responsibility to report and pay tax according to the laws in your local jurisdiction. Moreover, in certain countries we are obligated to withhold tax at source. Please refer to the User Agreement for the relevant provisions on this matter in your jurisdiction.
Customers should monitor their balance at all times and make sure that they have sufficient funds in their trading account to maintain their open positions. Moreover, customers can request to receive a notification by email/SMS/Push in case the account's equity is getting close to the total maintenance margin value. To do so, click on “Account” → “Notifications” or if you are using the mobile apps, click on “Menu” → "Price Alerts” → ”Notifications”.
This service is free of charge and sent through public telecommunications, therefore we cannot guarantee that you will receive these notifications.
To close a position, click on the “Close Position” button on the main screen or in the “Open Positions” tab. Once you have clicked this button, a pop-up box will appear and you will need to confirm or cancel your request to close the position. In this pop-up box, you also have the option to partially close your position. For example, if you have a position on Natural Gas of 2000 contracts, you can choose to close 1000 contracts and to be left with a smaller position.
To set a Trailing Stop Order, click on “Advanced” in the position screen on the Gotel Trading platform, tick the Trailing Stop box and set the required amount of pips to activate this stop.
Market Hours are the time frame in which a trading instrument is available for trading, i.e. it is possible to open or close a trade. You can view this information for each instrument individually by clicking on the “Details” link in the main screen of the trading platform. Market Hours are displayed in your local time.
CFDs have grown in popularity over the past few years and it is arguably becoming the preferred way to trade the financial markets. Some of the trading benefits of CFDs include no exchange charges and no stamp duty. Many of the inefficiencies of trading the underlying shares on an exchange are eliminated. The costs and delays of physical delivery of the shares, their registration and any holding or safe custody charges made by a broker are all avoided. The other major benefit of trading CFDs is that customers can trade using leverage on margin. CFDs trading means customers can trade a portfolio of shares, indices or commodities without having to tie up large amounts of capital. Moreover, any financial entitlements, such as dividends, are adjusted for in cash, directly to your account. However, any voting rights available to the holder of an equity share are not available to the holder of an equivalent CFD.
With Gotel you cannot lose more funds than you have available on your account.
Leverage is a concept that enables you to multiply your exposure to a financial instrument, without committing the whole capital necessary to own the physical instrument. When trading using Leverage you only need a fraction of the total value of your position, the rest is effectively lent to you. Profits and losses are based on the total size of the position, so the end result of a trade can be much larger than the initial outlay, in terms of profits or losses. CFDs are a form of leverage trading. The amount needed to open and maintain a leveraged trade is called “the margin”. Trading using leverage is sometimes called “margin trading”. In general, the term leverage is used when a small change in the price of the CFD is amplified into a bigger change, so that the CFD offers an “accelerated” return/loss.
Leverage of “10%” (or 1:10) means that if the price of the underlying asset changes by 1%, it is as if the price of the CFD changed by 10%. For example: a $100 balance leveraged by 1:10 increases to $1000. This allows you to buy up to $1000 worth of instruments. Information about the predefined leverage set per instrument can be found by clicking on the "Details" link next to the instrument's name in the platform's main screen.
There are no hidden fees at Gotel Trading. Gotel Trading is mainly compensated for its services through the spread.
As part of our commitment to offer the best trading conditions available, we cover most payment processing fees*.
On rare occasions, you may incur fees when transferring money to and from your Gotel account. These are determined and levied by your payment issuer or bank, and not by Gotel.
Fees may be added to your account by third parties for:
Gotel Trading is mainly compensated for its services through the "market spread". For example, when trading EUR/USD, if the buy rate is 1.3128 then the sell rate would be 1.3126 respectively (which means a market spread of 2 pips, in this example). Unlike other service providers who also charge commissions on each trade, Gotel does not charge dealing commissions.
However, the following additional fees may be applied:
The overnight funding amount is either added to or subtracted from your account whenever a position is left open after a certain cut-off time (the “Overnight Funding Time”).
The formula used to calculate the daily overnight funding amount of a position is:Trade Size * Opening Rate * Daily Overnight Funding %
The overnight funding time and the daily overnight funding percentage can be found in the “Details” link next to the instrument’s name in the main screen of the trading platform.
Dividends are the portion of corporate profits that are allocated to shareholders, and the cut-off date for share ownership in order to qualify for a dividend is known as ex-dividend date.
At Gotel you trade CFDs on equities, therefore, you do not actually own the share itself. If you have an equity or ETF CFD position open on the ex-dividend date, an adjustment will be made to your account in respect of the dividend paid on the underlying market. If you hold a buy position you will receive the dividend as a positive adjustment to your account. However, if you hold a sell position there will be a negative adjustment. Please note that voting rights are not acquired with equity CFDs.
Most of the instruments we offer, that are based on a futures contracts, have a rollover date. You can find this information by clicking on the "Details" link on the main trading platform screen next to each instrument.
Whenever a futures contract reaches its automatic rollover date as defined for the instrument, all open positions and orders are automatically rolled over to the next futures contract by Gotel, free of charge. In order to nullify the impact on the valuation of the open position, given the change in the underlying instrument’s rate (price) for the new contract period, a compensating adjustment is made to allow you to keep your positions open without affecting your Equity level. Stop Orders and Limit Orders are also adjusted proportionally to reflect the rate of the new contract. The value of your position continues to reflect the impact of market movement based on your original opening level.
Gotel quotes prices with reference to the price of the relevant underlying financial instrument and its spread. Our prices are obtained from a range of independent third-party market data providers who source their price feeds from relevant exchanges. An adjustment (i.e. the spread) is then applied automatically, to arrive at the Gotel price.This spread is paid by you, but is incorporated into the quoted rates and is not an additional charge or fee payable by you above those quoted rates.
Gotel offers a fixed or dynamic spread for its instruments. The calculation of the spread can be conducted by subtracting the sell price from the buy price of the instrument. The dynamic spread can change during the period a position is open, whereas the fixed spread remains unchanged from the time you open the position till the position is closed.
The pricing generated for our cryptocurrency CFDs is derived from specific cryptocurrency exchanges. Please bear in mind that Cryptocurrency prices may vary widely between cryptocurrency exchanges.
A corporate action is an event initiated by a public company that affects the shares/equities issued by the company. For example:
As you do not own the physical share/equity when trading CFDs, you neither acquire voting rights, nor any rights under a rights issue or similar event such as stock split, etc. Therefore, in order to ensure that there is no material impact to your open position(s), following an increase/decrease in the company’s share price, Gotel will automatically add to/subtract from your balance the amount you would have incurred as an additional loss/profit (depending on your position’s direction). This is referred to as an ‘Adjustment’.
Occasionally instruments are temporarily unavailable for trading when market events restrict price feeds, for example but not limited to: extreme volatility, illiquidity, underlying market suspensions, etc.
Whenever a futures contract reaches its expiry date, and an automatic rollover is defined for the instrument, all open positions and orders are automatically rolled-over to the next futures contract. In order to nullify the impact on the valuation of the open position, given the change in the underlying instrument’s rate (price) for the new contract period, a compensating adjustment is made to the account. Stop Orders and Limit Orders are also adjusted, to reflect the rate (price) of the instrument in the new contract.
The value of your position continues to reflect the impact of market movement based on your original opening level, size and spread. If the new contract is trading at a higher price, Buy positions will receive a negative adjustment, and Sell positions will receive a positive adjustment. Conversely, if the new contract is trading at a lower price, Buy positions will receive a positive adjustment, and Sell positions will receive a negative adjustment.
Instruments that are based on a futures contract either have an expiry date or a rollover date. You can find out which by clicking on the "Details" link on the main trading platform screen next to the instrument’s name. Whenever a futures contract reaches its expiry date, all open positions and Orders for that instrument are terminated, regardless of any associated Orders you may have set beforehand.
he spread can be calculated by subtracting the sell price from the buy price of the instrument, and can change whilst your position is open. Gotel is compensated for its services through the "market spread". For example, when trading EUR/USD, if the buy rate is 1.3128 and the sell rate would be 1.3126, and the market spread would be 2 pips. While some instruments have a fixed spread, others have a dynamic spread, which is constantly adjusted according to the market spread.
Useful instrument information can be found in the “Details” tab for each instrument on the trading platform. These details may change from time to time, therefore please ensure you verify the information before trading (any change will only affect new positions).
We recommend clients focus on one trading account, and we reserve the right to close subsequent accounts. However, each case will be assessed on an individual basis. If an additional trading account is permitted, it must be operated independently and it is not possible to transfer funds between the two accounts.
No, using the demo account is completely risk-free as you can’t lose real money.
AmNo, only individual trading accounts are allowed.
In order to change your password, please go to the main trading screen on the Gotel platform → click on ”Menu” → “Account” → “Change My Password”.
Once the balance of your demo account drops to 200 EUR (or equivalent amount) or below, the initial demo amount will be automatically reinstated by the system.
You can access the Gotel Platform via Web-Trader, iPhone/iPad, Android app and Windows Phone app.
You can choose to open a Demo account during your registration process by clicking on “Demo Mode” in the “Select Account Mode” window. You can also switch back from Real Money mode to Demo mode by clicking on “Switch to Demo Mode” in the main platform screen or from the app’s menu.
You can choose your preferred account mode from the login screen or switch between the two accounts by clicking on “Switch to Demo Mode” or “Switch to Real Money” in the main platform screen or from the app’s menu.
Gotel’s subsidiaries are authorised and regulated in different jurisdictions around the world
Gotel Ltd operates through the following subsidiaries:
One of the benefits of trading with a regulated firm is that you know you are trading on a reliable and reputable platform in a regulated environment, which has stringent rules and regulations designed, in particular, to protect the interests of retail clients.
* Based on revenue excluding FX (published half yearly financial statements, June 2019). While leverage magnifies profits, it will also magnify losses. Guaranteed stops incur a small premium if triggered.
Remember that CFDs are a leveraged product and can result in the loss of your entire capital. Trading CFDs may not be suitable for you. Please ensure you fully understand the risks involved.
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