Margined Forex

Margined Forex

• Range of Markets
• Forex
• Indices
• Metals
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• Agriculturals
• Events
• Spreads
• Spread Contracts
• Binary Options
• Binary Options: Range
• Contract Details
• • Commission 
  • Margined Forex 
  • Forex: Options 
  • Nadex: General 
  • Nadex: Stock Indexes 
  • Nadex: Forex 
  • Nadex: Commodities 
  • Nadex: Economic Events 

Contract Details: Margined Forex

You can find certain contract details, including dealing spreads on margined forex at the following link:

• FX Spreads

However, for full contract details, please click on the drop down box next to the contract in our PureDeal platform and select "Get Info."

For all standard contracts:

• One contract = 100,000 of the first-named currency

For all mini contracts:

• One contract = 10,000 of the first-named currency

Notes

Our Forex Trades give you exposure to changes in exchange rates but they are cash settled and cannot result in the delivery of the underlying currencies.

1. Spreads are subject to variation, especially in volatile market conditions.
2. The minimum transaction size is one contract. Subject to this minimum size, transactions may be in fractions of a contract.
3. Normal dealing hours are from 17.00 (EST) on Sunday until 17.00 (EST) on Friday. Gold and Silver dealing hours are from at 18.00 EST Sunday to 16.15 EST Friday.
4. The normal Margin Percentage for a transaction is 2% of the position value, and for some currency pairs it's 1%. For Gold the normal Margin Percentage is 3%. For Silver the normal Margin Percentage is 5%.
5. For Foreign Exchange transactions, adjustments to reflect the relative interest rates of the currencies concerned are calculated and posted to the client's account daily. Interest adjustments are calculated as follows:
   
   A = V x R
   
   Where:
   
   V = Number of contracts x Contract size
   
   R = Tom/Next pips required to borrow overnight the currency that is being notionally sold minus the deposit earned from the currency that is being notionally bought (including an administrative charge not exceeding 0.3% per annum). This maximum charge will apply to both regular and mini-contracts.
   
   A = The funding cost
   
   If the Tom/Next rate is less than zero, you will be debited for running a short position and credited for running a long position.
   
   If the Tom/Next rate is greater than zero, you will be credited for running a short position and debited for running a long position.
   
   The funding charge is calculated for any position opened before 17.00 that is still open after 17.00 (EST).
   
   Note: For any position opened before 17.00 Wednesday that is still open after 17.00 Wednesday, the daily interest credit or debit will be made for three days as opposed to one. This three-day adjustment covers settlement of trades over the weekend period.
6. Funding adjustments are similarly made for open positions on Gold and Silver, using the calculation A = V x R / 360, where V = the current value of the position in USD, and R = a percentage rate which is based on U.S. base rates.
7. We will not charge any additional commission unless we notify you in writing.
8. When you enter a Forex Trade your profit or loss will be realized in the second-named currency (i.e. for EUR/USD it will be realized in US dollars), and will be booked to your account in the second-named currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.