- $2,000 Minimum Deposit
- 4-5
Pip Spreads
- Commission Free
- Fast
Trade Execution
- Segregated Accounts
- 1%
($1000) Margin Day Or Night
- Live Position
and P&L Tracking
- Responsive Client
Service
- Profit
/ Loss Calculation
_______________________________________
constantly updates its live dealing rates displaying real time dealing prices
to all clients. There is no need to ask for a quote, just click on the price and
the trade is yours at the quoted price. This ensures fair and transparent market
making and prevents the dealing desk from manipulating prices for each individual
trader. 's clients that have traded with other FX market makers will certainly
notice the difference in 's trade execution and service. ’s dealing
desk prides itself on providing clients with the best prices, fastest execution,
and least slippage in the industry.
Tight
Spreads Traders receive a spread of four pips on the EUR/USD pair
and a spread of five pips on the other major currency pairs (USD/YEN, USD/CHF,
and GBP/USD). In addition provides competitive spreads on 17 currency pairs,
including USD/CAD and AUD/USD. The spreads accurately reflect where is willing
to trade. During non-peak trading hours when the market is less liquid, still
maintains 4-5 pip spreads. Commission
Free does not charge commissions or any other fees to trade
or maintain an account. This arrangement is available to ALL accounts regardless
of account balance or trade volume. Fast
Trade Execution Dealers respond to orders in 3 to 7 seconds on
average. Under extremely heavy market conditions, the average response time is
under 30 seconds. realizes that delayed responses can adversely affect trader's
profitability. By consistently and quickly responding to orders, minimizes
the effects of factors other than your trading acumen and market conditions affecting
profitability. Clients may also take advantage of contacting the dealing desk
via telephone for a two-way quote and split second execution. Segregated
Accounts All client funds are deposited with triple-A rated financial
institutions. currently holds client funds at various banks, including Citibank
and Fleet Bank. Client funds are segregated from operating accounts, and therefore,
may not be used for day-to-day operations, credit lines outside of trades placed
by clients, and other investment purposes. For this reason, all withdrawal requests
made by the client are usually processed within one business day or receipt.
1% Percent Margin
Day or Night Clients must maintain $1,000 in the account for each
lot of currency being traded. This amount does not change after 5:00 PM EST, which
is the rollover cut off, but stays constant at $1,000 per lot the entire day and
overnight. One lot is valued at approximately $100,000. There is also an important
safety feature imbedded in this system, which prevents the clients from losing
more money than they have in the account. Once the account falls below $1000 per
lot, all positions are closed, and this acts as a final stop for those that have
not set stop-loss orders to close losing positions. Live
Position and P&L Tracking Clients can see the value of their
positions and account equity move up and down with the market in real-time manner
using 's innovative Java based trading platform. When trading with , the
client never has to approximate account equity or be uncertain in regards to available
margin. Responsive
Client Service handles all standard procedures such as account
openings, deposits and withdrawals, within one business day. If clients have any
questions or need clarification, members of 's friendly and professional support
staff are available from 9:00 AM to 7:00 PM Eastern Standard Time. In addition
the dealing desk is manned 24-hours a day from Sunday at 5:00 PM EST through
Friday at 4:00 PM EST.
Currency | Pip,
US$ | USD/CHF |
$7.93 | GBP/USD |
$10.00 | USD/JPY |
$9.28 | EUR/USD |
$10.00 | USD/CAD |
$7.60 | AUD/USD |
$10.00 | GBP/CHF |
$7.93 | GBP/JPY |
$9.28 | EUR/CHF |
$7.92 | EUR/GBP |
$17.47 | EUR/JPY |
$9.28 |
| Profit
/ Loss Calculation: Profit
and Loss (P&L) calculation for every position is done in "real time"
on the trading system. This enables customers to view the P&L in their accounts
instantaneously as the market moves. Approximate
USD values for one (1) point or "pip (principal interest point)" move
per one lot or contract in our traded currency pairs are as follows (i.e. per
one lot equal 100,000 of the base currency): Currency
Pair 1 "pip"= $ Value of 1"pip" move per Contract (Lot)
USD/JPY .01 $100,000 * .01=JPY 1,000, Spot=Approx $8 USD/CHF .0001 $100,000
* .0001=CHF 10, Spot=Approx $6 USD/CAD .0001 $100,000 * .0001=CAD 10, Spot=Approx
$6 EUR/USD .0001 EUR 100,000 * .0001 = $10 GBP/USD .0001 GBP 100,000
* .0001 = $10 AUD/USD .0001 AUD 100,000 * .0001 = $10 | Calculating
P&L - Formulas. Examples: USD/JPY, USD/CHF,
USD/CAD Calculation: ((Price 2 - Price 1) x Size
x Contracts) / Price 2 +/- Interest = Profit/Loss For
example, in USD/JPY, customer bought 2 lots at 132.00. Later on the same trading
day, customer decided to Liquidate (Close) the previous 2 lots at 132.50.
Calculation: (132.50-132.00)
x 100,000 / 132.50 x 2 + 0 = $754.72 profit (or loss). EUR/USD,
GBP/USD, AUD/USD ((Price 2 - Price 1) x Size x
Contracts) +/- Interest = Profit/Loss For example,
in EUR/USD, customer bought 2 lots at 0.8500. Later on the same trading day, customer
decided to Liquidate (Close) the previous 2 lots at .8570. (0.8570-0.8500)
x 100,000 x 2 + 0 = $1,400.00 profit (or loss). |
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