Note: Due to regulations, accounts for Canadian and US residents may not be opened at this time.
- Trading Hours:
Sun 17:00 EST - Fri 16:00 EST. - Swap Schedule:
Positions rolled over at 17:00 EST. - Interest on Unused Margin:
2% annually. - Platform:
MetaTrader 4. - Contract Sizes:
1,000 (micro - for mini accounts only), 10,000 (mini) and 100,000 (standard) lots can be traded on Mini and Professional accounts. - Execution:
Automatic. All entry and stop orders are honored during normal market conditions. - Spread Widening:
Spreads are fixed. Only during the major news announcements may spreads be expanded. - Scalping:
Methodical scalping (picking) is not allowed. See your trading agreement for details. - Margin Call:
Margin Calls protect you from losing more money than you have in your account. Positions will be automatically closed out when account equity is not sufficient to maintain the margin. - Stop and Limit Orders:
All stop and limit orders up to 10 standard lots will be honored under normal market conditions. Please note that if you left positions open during the weekend, slippage may occur on stop and limit orders due to weekend price gaps. - Deposit Currencies:
You can deposit the following currencies without conversion: EUR, USD, CAD, JPY, GBP, CHF.
You will see you profit/loss in the currency of deposit and will be able to withdraw it in the same currency, thus avoiding currency conversion fees.
PayPal deposits are available with conversion to CAD.
No third-party deposits or withdrawals are allowed.
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Currency trading is dealt on a "Spot" basis only. This means that all trades settle two business days from inception, as per market convention.
FX|Clearing does not arrange physical delivery of currencies hence, all positions left open from 4:59 PM EST to 5:00 PM EST (New York time) will be rolled over to a new "value date". As a result, positions are subject to a swap charge or credit as specified in the table below.
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Note#1: When you roll an open position from Wednesday to Thursday, then Monday next week becomes the value date, not Saturday; therefore the rollover charge on a Wednesday evening will be three times the value indicated above.
Note#2: For our Muslim clients, sharia accounts are possible. Contact us for more details here.
- Margin Call Level: Warning at 100%
- Stop Out Level: Positions closed at 70%
Margin call level in per cents is calculated as follows: MC = Equity / Margin * 100%
Margin call level in money is equal to equity: MC = Equity
If the current level is below Margin Call level, the account will receive an alert. If the level reaches a point lower than Stop Out level, the most unprofitable position will be closed on accounts quoted automatically, as for those quoted by a dealer, a request will be sent to the latter one for closing the most unprofitable position (but dealer can close any other position of the client at the dealer's discretion).
Virtual credit to be used by traders provided they do not have enough cash resources is indicated in the "Virtual Credit" field. If a trader wants to withdraw his/her money, this request will not apply to this credit given to client. And Margin Call levels will also be calculated on the money put on the account but without considering the credit sum.