Forex Dealing Handbook

•    Trading Hours
•    Currency Pairs
•    Dealing Spread
•    Fees
•    Trading Minimums
•    Price Quotes
•    Trading over the Internet

Trading Hours

The forex trading desk is open 24 hours daily from 17:00 ET Sunday through 16:30 ET on Friday.
Currency Pairs.

24-hour trading is currently available in the following 14 currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, EUR/JPY, EUR/GBP, EUR/CHF, GBP/JPY, AUD/JPY, CHF/JPY, EUR/AUD, GBP/CHF.

Dealing Spread

Forex Day Trading's normal dealing spreads are 3-5 pips for the major currency pairs.

Fees

No fees or commissions are charged to the customer, regardless of account balance or trading activity.

Trading Minimums

Mini Accounts:
Forex Day Trading's minimum transaction size for mini accounts is 1/10th the size of a standard lot, or 10,000 of the base currency, with a minimum margin deposit of 0.5% (that is, 200:1 leverage). For example, a US$10,000 position would require an initial margin deposit of US$50.

Standard Accounts:

The minimum transaction size for standard accounts is 1 lot of 100,000 of the base currency, with a minimum margin deposit of 1% (that is, 100:1 leverage). For example, a US$100,000 position would require an initial margin deposit of US$1,000.

Price Quotes

Forex Day Trading clients have the ability to execute trades directly from real time streaming bid/ask quotes. Live prices are continuously published to clients via the currency trading dealing software, and traders can at any time click on the current bid or offer and instantaneously execute a trade. Prices are updated automatically as market conditions dictate. On average, the forex traders make 100,000 prices per day. More importantly, we publish the same dealing price to the entire client base and allows any client to deal on the available price.

Trading over the Internet

Executing a deal via the Internet is a simple two-step process. Simply enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade - your deal is automatically executed. The forex trading software automatically calculates the initial margin requirement based upon the notional amount of the deal, and if sufficient funds are available in your account, will accept the transaction. Deals are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current P&L.