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FOREXTrader Trading Handbook, Policies & Procedures | FOREX.com CA

 昵称17752473 2016-01-15

Fees

FOREX.com charges no trading commissions or transaction fees. FOREX.com is compensated for its services through the bid/ask spread.

All banking fees, including but not limited to wire transfer charges, are the responsibility of the customer and will be deducted from the customer's trading account.

FOREX.com charges a data fee of $15 per month if there is no trading activity or no open positions for a period of 90 days or more. Contact us if you wish to disable your account temporarily and avoid this fee.


Margin Requirements

The minimum margin requirement is dependent on your account type, base currency of the account and product.

Minimum Margin Requirement by Product for CAD Based Accounts
Currency PairMarginCurrency PairMarginCurrency PairMargin
AUD/CAD3.00%AUD/CHF6.00%AUD/JPY6.00%
AUD/NZD6.00%AUD/USD5.50%CAD/CHF3.00%
CAD/JPY3.00%CHF/JPY6.00%EUR/AUD6.00%
EUR/CAD3.00%EUR/CHF6.00%EUR/CZK13.00%
EUR/DKK13.00%EUR/GBP6.00%EUR/HUF13.00%
EUR/JPY6.00%EUR/NOK6.00%EUR/NZD6.00%
EUR/PLN13.00%EUR/SEK6.00%EUR/TRY28.00%
EUR/USD5.50%GBP/AUD6.00%GBP/CAD3.00%
GBP/CHF6.00%GBP/JPY6.00%GBP/NZD6.00%
GBP/USD5.50%NZD/CAD3.00%NZD/CHF6.00%
NZD/JPY6.00%NZD/USD5.50%SGD/JPY13.00%
USD/CAD2.50%USD/CHF5.50%USD/CNH27.50%
USD/CZK12.50%USD/DKK12.50%USD/HUF12.50%
USD/JPY5.50%USD/MXN5.50%USD/NOK5.50%
USD/PLN12.50%USD/RUB27.50%USD/SEK5.50%
USD/SGD12.50%USD/TRY27.50%USD/ZAR27.50%
XAG/USD22.50%XAU/AUD23.00%XAU/CHF23.00%
XAU/EUR23.00%XAU/GBP23.00%XAU/JPY24.00%
XAU/USD22.50%ZAR/JPY28.00%Copper9.00%
Corn9.00%Cotton6.00%HTG OIL14.00%
PALLAD10.00%PLAT6.00%Soybean8.00%
Sugar9.00%US NATG13.00%UK OIL13.00%
USOIL15.00%WHEAT9.00%UK10015.00%
SPX5005.50%AUS20015.00%NAS1006.50%
HK5015.00%GER3015.00%JPN22515.00%
ESTX5015.00%FRA4015.00%US305.50%
Minimum Margin Requirement by Product for USD Based Accounts
Currency PairMarginCurrency PairMarginCurrency PairMargin
AUD/CAD5.50%AUD/CHF6.00%AUD/JPY6.00%
AUD/NZD6.50%AUD/USD3.00%CAD/CHF5.50%
CAD/JPY5.50%CHF/JPY6.00%EUR/AUD6.00%
EUR/CAD5.50%EUR/CHF6.00%EUR/CZK13.00%
EUR/DKK13.00%EUR/GBP6.00%EUR/HUF13.00%
EUR/JPY6.00%EUR/NOK7.00%EUR/NZD6.50%
EUR/PLN13.00%EUR/SEK6.00%EUR/TRY28.00%
EUR/USD3.00%GBP/AUD6.00%GBP/CAD5.50%
GBP/CHF6.00%GBP/JPY6.00%GBP/NZD6.50%
GBP/USD3.00%NZD/CAD5.50%NZD/CHF6.50%
NZD/JPY6.50%NZD/USD3.50%SGD/JPY13.00%
USD/CAD2.50%USD/CHF3.00%USD/CNH25.00%
USD/CZK10.00%USD/DKK10.00%USD/HUF10.00%
USD/JPY3.00%USD/MXN3.00%USD/NOK4.00%
USD/PLN10.00%USD/RUB25.00%USD/SEK3.00%
USD/SGD10.00%USD/TRY25.00%USD/ZAR25.00%
XAG/USD22.00%XAU/AUD23.00%XAU/CHF23.00%
XAU/EUR23.00%XAU/GBP23.00%XAU/JPY23.00%
XAU/USD22.00%ZAR/JPY28.00%Copper9.00%
Corn9.00%Cotton6.00%HTG OIL14.00%
PALLAD10.00%PLAT6.00%Soybean8.00%
Sugar9.00%US NATG13.00%UK OIL13.00%
USOIL15.00%WHEAT9.00%UK10015.00%
SPX5005.50%AUS20015.00%NAS1006.50%
HK5015.00%GER3015.00%JPN22515.00%
ESTX5015.00%FRA4015.00%US305.50%

Open positions are required to be fully margined at all times. There are no margin calls in forex trading. If a customer’s account balance falls below required 100% maintenance margin, all open positions are subject to automatic liquidation. Liquidations are handled in the following manner: the net open position with the greatest unrealized loss is closed first, followed by the next largest losing position and so on, until the maintenance margin requirement is satisfied or exceeded. Depending on the size and unrealised P&L of the open positions, customers risk having ALL open positions liquidated in order to meet the minimum margin requirement and incurring losses greater than the initial required margin.

To minimise the risk of liqudiation, you should make sure your account is funded in excess of your required margin and that you actively manage your positions using limit and stop orders.

Margin requirements are subject to change without notice, at the sole discretion of FOREX.com.

Please note that very large individual positions are subject to additional margin. This will typically apply to positions of $50m or more on currency pairs, indices and major commodities, and positions of $2.5m or more on minor commodities.

Should you have a position that is subject to an additional margin requirement we will contact you to make arrangements to cover it. This increased margin requirement will continue to apply at Gain’s discretion, until the position size decreases and remains materially below the threshold for a sustained period. Partially closing the position will not automatically reduce your margin requirement.

If you have any questions about margin on large positions please contact our sales team.


FUNDING AND WITHDRAWALS

Funding

To fund your account login to My Account and visit the funding page.

There are four easy ways to fund your account:

  • Debit / Credit Card -Deposits via debit and credit card are accepted. For fast and easy account funding you can link a credit or debit card to your FOREX.com account through My Account.
  • Wire - All transfers should include the client's name and account number in the reference section of the wire. Full wire instructions can be found on the funding page in My Account.
  • Cheque -Funds sent via personal or business cheque take 5-10 business days (from date of receipt) to clear and be credited to client's trading account, according to our banking partner's posted schedule. This can vary depending on the bank and province of issue. CAD cheques from foreign banks may take several weeks to clear. Please login to My Account for details.

Withdrawals

Withdrawals can be submitted through My Account.

For full details regarding funding and withdrawals please click here.

Third Party Deposits

Please note FOREX.com cannot accept third party deposits or withdrawal requests. The name(s) on the FOREX.com trading account must be an exact match with the name(s) on the account of the other financial institution.


Order Execution

Market orders: Market orders are executed at the best available price at the time the order is received.

FOREX.com platforms that support Market Orders include:

  • FOREXTrader PRO
  • FOREXTrader PRO.web
  • FOREXTrader mobile (iPhone, iPad, Android Apps)

Instant Execution Mode: Instant Execution is designed for use in combination with the one-click dealing feature available in the FOREXTrader PRO trading platform. With Instant Execution, orders initiated at the market price will only be executed at the requested rate or within a trader-specified deviation (measured in pips). We will not requote prices. The default setting is 1 pip deviation, so if the market moves unfavorably away from the requested price by more than 1 pip, you order will not be executed. However, if the market moves in your favor by any amount then the order will be executed at the improved price. You can modify the deviation setting at any time, by product, within the FOREXTrader PRO platform.

Limit Orders: Limit orders are executed at the order rate or better. Sell limit orders are filled when the bid reaches the requested rate; limit orders to buy are filled on the offer.

Stop Orders: Stop orders become market orders when a predefined order rate is reached. Stop orders are executed at the best available price, depending on available liquidity. Buy Stop orders are filled on the offer price and Sell Stop orders are filled at the bid price.

Time and sales reports for a specific period can be requested by contacting customer service.

Gapping/Volatility

When economic data releases or major news events are announced, prices may “gap” as the market reacts and adjusts to the news–i.e. prices may move dramatically in one direction. We always aim to provide liquidity, but in extreme market conditions there may be no available liquidity for a very short period. Gap market conditions are also common when trading resumes after a weekend or holiday. You should be aware of the following risks associated with volatile markets:

  • Stop and limit orders may be executed at a different price from the requested price, or the last quoted trade price at the time of order entry.
  • Opening prices may differ significantly from the previous day’s close.

Liquidations

You are responsible for monitoring your account and maintaining 100% of required margin at all times to support your open positions. View the full list of margin requirements by product.

To help limit your trading losses and ensure that your losses never exceed your account balance, our systems monitor your margin in near real-time and will automatically close out your open positions if your account equity falls below the 100% margin requirement. The liquidation process is as follows: the net aggregated open position with the greatest unrealized loss is closed first, followed by the next largest losing position and so on, until the maintenance margin requirement is satisfied or exceeded. Depending on the size and unrealized P&L of the open positions, all open positions may be liquidated in order to meet the margin requirement.

While our 100% margin requirement and real-time margin system is designed to limit your trading losses and help ensure that total losses never exceed your total account balance, you do risk incurring losses greater than your account balance, especially during periods of extreme market volatility. While it is not FOREX.com’s policy to hold clients responsible for modest negative balances; we do reserve the right to hold clients responsible for large debit balances and in special circumstances. For this reason, we strongly encourage you to manage your use of leverage carefully. Increasing leverage increases risk. For more information, see tips for managing margin.


Order Expiry

End of Day (EOD) orders automatically expire at 5pm ET on the same day the order was entered. Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.


Orders Left Over the Weekend or Holidays

FOREX.com’s trading hours are from Sunday at 5pm ET through Friday at 5pm ET. Orders (e.g. Stops, Limits, and contingent orders) left pending over a weekend or holiday period will not be executed until FOREX.com resumes regular trading hours.


Order Types

Market Orders
Market orders are executed at the best available price at the time the order is received.

Limit Orders
Limit orders are executed at the order rate or better. Sell limit orders are filled when the bid reaches the requested rate; limit orders to buy are filled on the offer.

Stop orders
Stop orders become market orders when a predefined order rate is reached. Stop orders are executed at the best available price, depending on available liquidity. Buy Stop orders are filled on the offer price and Sell Stop orders are filled at the bid price.

One Cancels Other (OCO's)
A contingent order providing that one part of the order is cancelled if the other part is executed. If one part of the order is filled, the other is automatically cancelled.

If / Then 
An If/Then order provides that if the first order ('If' order) is executed, the second order ('Then' order) becomes an active unassociated single order. Unassociated orders are not attached to a trade and act independently of any position updates. In cases where the “If” order does not execute, the “Then” single order will remain dormant and will not be executed when the market reaches the specified rate. When either part of an If / Then order is cancelled, all parts of the order are cancelled as well.

If /Then OCO
An If/Then OCO provides that if the first order ('If' order) is executed, the second order ('Then' order) becomes an active unassociated One Cancels Other (OCO) order. Unassociated orders are not attached to a trade and act independently of any position updates.  The execution of either one of the two 'Then' orders automatically cancels the other. 

In cases where the 'If' single order does not execute, the 'Then' OCO order will remain dormant and will not be executed when the market reaches the specified rate. When any part of an If / Then OCO order is cancelled, including either leg of the OCO order, all parts of the order are cancelled as well.

Trailing Stops
A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance.

When the market price moves in a favorable direction (up for long positions, down for short positions), the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade.

All of the above orders may be entered as Day Orders, entered today and good until end of NY business day (5pm ET). Or, customers may choose to enter a Good 'til Cancelled Order (GTC), which is valid for 90 days from the date the order is entered or until the order is executed or cancelled.

Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled.

Placing contingent orders may not necessarily limit your losses. 


Products and Trading

FOREX.com offers currencies and spot metals for trading. View full product list and pricing schedule.

Product Details
ProductMin trade sizeMax trade size (per click)Maximum position
Currency1,000 base units5,000,000 base unitsMay vary by product
Gold10 troy ounce500 troy ounces10,000 troy ounces
Silver500 troy ounces25,000 troy ounces250,000 troy ounces

Phone Trading

Phone trading is available to customers during market hours. To place a trade over the phone, contact customer service.

Phone Trading Instructions

  • State your Account Number.
    You will be asked to verify the name on the account and answer other security questions
  • Ask for the current price i.e.
    'I would like a price on Euro/Dollar'
  • FOREX.com will provide the current bid/offer.
    'Euro/Dollar is trading at 1.28551/562' (the first number being the bid, the second the offer)
  • If you wish to place a market order, state your interest.
    'I sell 50,000 of Euro/Dollar at the market'
  • FOREX.com will provide verbal confirmation of the trade. Your trade will be entered on your behalf and the trade will appear in the trading platform immediately.
  • If you do not wish to deal at the quoted levels, simply say 'nothing done.'
  • You may also request that a stop or limit order be placed on your behalf. Be sure to indicate the type of order and the price.

All trades executed via the phone are subject to a pre-deal margin availability check and will be manually entered into the customer's account for integrated P&L analysis and reporting.

All phone orders will be recorded to ensure fairness and accuracy for all parties involved.


Rollover Policy

FOREX.com automatically rolls forward all open positions following the close of NY trading at 5:00pm ET. Trading is typically suspended for up to 1 minute during the roll process. The amount paid or earned depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, assuming Australian interest rates are significantly higher than the United States', a trader long AUD/USD (i.e. holding Australian Dollars), is paid interest upon rollover. Conversely, if a trader is short AUD/USD (i.e. holding US Dollars) interest will be debited upon the rollover.

Rollover credits or debits are applied daily to a customer's account for each open position held overnight. Rollovers are processed at 5:00 pm ET, so any open positions at that time will automatically be rolled forward and an interest debit or credit will be applied to your account. Trading is typically suspended during the roll process.

Weekends and Holidays
Rollovers for positions held over the weekend will be posted on Wednesday; as a result the rollover applied on Wednesday will be for three days of rollover interest.

A holiday rollover will occur when the currency traded has a major holiday and the banks are closed. A holiday rollover will typically be applied two days before the holiday.

FOREX.com’s daily rollover rates and detailed reporting of rollover activity is available in the Reports section of the trading platform. Live rollover rates can also be seen on the website.


Trading Hours

Forex trading is available 24 hours a day from 5:00pm ET Sunday through 5:00pm ET on Friday, including most U.S. holidays. These conditions may result in wider spreads for some currency pairs based on market liquidity.

Spot gold and silver trading is available 23 hours a day from 6pm ET Sunday through 5pm ET Friday. Trading is closed from 5pm to 6pm ET daily; however, you may place new working orders, or edit and cancel existing working orders. Spot gold and silver trading also follow CME holiday closures.

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