| Invest in FX Market > Spreads and Margin |
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Trading Hours
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Trading is open 24 hours a day from Sunday 5:15 PM New York time until Friday 4:00 PM New York time (Monday 5:15 AM Hong Kong Time until Saturday 4:00 AM during Day-light saving hours, which will delay an hour in Winter). Quotes, order placements, and confirmations are available online or via telephone.
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Dealing Spreads
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| Lowest and average spreads detailed below. For the majority of our currency pairs, lowest spreads are most commonly found during US & European trading sessions. |
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Currency Pair |
As Low As |
Typical Spread |
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EUR/CHF |
0.1 pips |
02 pips |
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EUR/GBP |
0.6 pips |
2.4 pips |
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EUR/USD |
0.9 pips |
2.3 pips |
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USD/JPY |
0.5 pips |
2.9 pips |
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GBP/USD |
0.8 pips |
3.7 pips |
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USD/CHF |
1 pips |
3.8 pips |
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AUD/USD |
1 pips |
3.7 pips |
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USD/CAD |
1 pips |
4.8 pips |
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EUR/JPY |
0.6 pips |
3.9 pips |
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CHF/JPY |
1 pips |
3.5 pips |
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NZD/USD |
0.8 pips |
4 pips |
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AUD/JPY |
2.3 pips |
5 pips |
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EUR/CAD |
2.4 pips |
6 pips |
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CAD/JPY |
1.3 pips |
5 pips |
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AUD/CHF |
1.6 pips |
4.8 pips |
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AUD/CAD |
2.6 pips |
6.5 pips |
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GBP/CHF |
1.1 pips |
6.8 pips |
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NZD/JPY |
02.9 pips |
6 pips |
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GBP/JPY |
03 pips |
05.3 pips |
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EUR/NZD |
2.5 pips |
7 pips |
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EUR/AUD |
2.8 pips |
7.9 pips |
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AUD/NZD |
4 pips |
7 pips |
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GBP/AUD |
4.7 pips |
10 pips |
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USD/HKD |
4.5 pips |
13 pips |
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USD/SGD |
3.5 pips |
7 pips |
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Advantages of No Dealing Desk
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Designed for "scalpers" or active FX traders, the no dealing desk option provides traders direct access to some of the best bid and ask prices via multiple bank access. There are absolutely no requotes and no dealer confirmation. This means that during key news and economic events there are absolutely no restrictions on trading. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, FXCM Asia offers traders all the advantage of a "no dealing desk" option with the added benefit of the ability to place orders over the phone 24 hours a day. Click here for more details.
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Hedging Function
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The No Dealing Desk offers hedging capabilities. With this option you will be able to have both a Buy and a Sell position on one currency pair at the same time.
 Learn More
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Trade Size
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On the FXCM Asia trading platform, all trades are executed in standard sizes of 10,000 base currency per one lot. To ensure maximum efficiency when executing trades, FXCM Asia recommends that clients keep their maximum order size to $2,000,000 per trade.
Here are some examples:
- U.S. Dollar/Japanese Yen (10,000 U.S. Dollars)
- Euro/U.S. Dollar (10,000 Euros)
- Euro/Great Britain Pound (10,000 Euros)
- Euro/Japanese Yen (10,000 Euros)
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Margin
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Type |
Margin Level |
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Initial Margin Level |
5% of Open position value |
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Maintenance Margin Level |
3% of Open position value |
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Liquidation Margin Level |
1% of Open position value |
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FXCM Asia enables currency trading to be conducted on a leveraged basis. Every trader is able to select the degree of leverage or gearing that the trader wishes to employ in trading. Unless the trader specifies otherwise, FXCM Asia sets the leverage level at default margin level which is 5% per lot according to the SFC requirement. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of FXCM Asia, based on volume traded and market conditions.
Initial Margin Level: In order to open a new position, available account equity must exceed initial margin level requirement. The initial margin level requirement is 5% of open positions value.
Maintenance Margin Level: When the equity of an account falls below the maintenance margin level requirements, FXCM Asia has the right at its discretion to close open positions until account equity exceeds the maintenance margin level requirement. The maintenance margin level requirement is 3% of open positions value.
Liquidation Margin Level: When the equity of an account falls below the liquidation margin level requirement, FXCM Asia will automatically close all open positions in the account. The liquidation margin level is 1% of open positions value.
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Up to 20:1 Leverage
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| According to the SFC requirement, Clients must have approximately 5% of the value of the positions to open a new position and 3% of the value of the positions they hold in their account for each lot of currency being traded (approximately 20:1 leverage based on the initial margin). The amount of maintenance margin does not change even after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 3% per lot the entire day and overnight.
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Rollover/Interest Policy
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At 5:00 PM New York Time (5:00 AM or 6:00 AM Hong Kong Time), funds are subtracted or added to accounts with open positions because of the automatic rollover. Funds are added to the account for positions in which the client is long (holding) the currency bearing the higher interest rate. Funds are deducted in the opposite circumstance.
Note: On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount. This "3-day" rollover accounts for settlement of trades through the weekend period.
Why does Rollover take place?
In the spot forex market, trades must be settled in two business days. If a trader sells 10,000 euros on Tuesday, the trader must deliver 10,000 euros on Thursday, unless the position is rolled over. As a service to our traders, FXCM Asia automatically rolls over all open positions to the next settlement date at 5:00 PM New York time. Rollover involves exchanging the position being held for a position expiring the following settlement date. The positions being exchanged are usually not valued at the same price. The amount of the difference varies greatly based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day with the movement of prices.
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Types of Orders
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| The trading platform provides sophisticated order entry and tracking of market orders, entry orders, stop/limit entry orders, and stop-loss orders. All of the above orders are Good Until Cancelled (GTC), which is valid until the order is executed or cancelled. |
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Margin: Manage your Risk in the FX market
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By trading on margin, traders have the ability to control positions much larger than their deposit. The margin deposit for leverage is not a down payment on a purchase of equity, as many perceive margin to be in the stock markets. Rather, the margin is a performance bond, or good faith deposit, to ensure against trading losses. This is very useful to short-term day traders who need the enhancement in capital to generate quick returns. However, leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains. To help manage your risk, FXCM Asia offers a unique margin watcher feature, which is embedded in the platform. If the equity in your account drops below the margin required to maintain your open positions, FXCM Asia will close all open positions. This guarantees limited risk. You also have the ability to track your margin in real time. In the accounts window you will see two columns: used margin and usable margin. The used margin indicates funds currently pledged towards open positions. You can think of usable margin as your "wiggle" room. Once usable margin reaches zero, a margin call will ensue and all open positions will be closed by the FXCM Asia.
To learn more about the margin watcher feature please contact the FXCM Asia staff, which is available 24-hours a day to walk you through the trading station.
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