Dealing Hours
The dealing desk is open 24-hours a day from Sunday
4:00 PM Eastern Standard Time (EST) until Friday
4:00 PM Eastern Standard Time (EST).
Mode of Dealing
Quotations, Order Placement, and Confirmation
available over the telephone or via the Internet.
Dealing Spread
Normal dealing spreads are 3-5 pips for the major
currency pairs.
Order Sizes
On FX Trading Platform all trades are executed
in standard sizes of 100,000 base currency and
mini sizes of 10,000 base currency per one lot.
Here are some examples:
U.S. Dollar/ Japanese Yen (Standard sizes 100,000
U.S. Dollars, Mini sizes 10,000 U.S. Dollars)
Euro/ U.S. Dollar (Standard sizes 100,000 Euros,
Mini sizes 10,000 Euros)
G.Britain Pound/ U.S. Dollar (Standard sizes 100,000
Pounds, Mini sizes 10,000 Pounds)
Types of Orders
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.
Margin
Direct Forex 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, Direct Forex sets
the initial leverage level at Direct Forex's most
lenient requirement
Leverage
Mini accounts have 200:1 leverage. The margin
required to purchase 1 Mini lot is $50. When customers
Mini accounts drop below 50% of the required margin
requirement, they are automatically hedged or
closed.
Standard accounts have 100:1 leverage. The margin
required to purchase 1 standard lot is $1000.
When customers accounts drop below 50% of the
required margin requirement, they are automatically
hedged or closed.
Rollover/Interest Policy
Direct Forex automatically rolls over
all open positions to the next settlement date
at 4:00 PM EST. At 4PM EST funds interest is subtracted
or added to accounts with open positions that
have been rolled over.
For accounts that funds are added to the account
for positions in which the client is long (holding)
the currency bearing the higher interest rate.
The interest rate differential is determined and
the applicable rate of interest is assessed.
One may consult the Intr B (Interest Buy) column
of the Simple Dealing Rates on the FX Trading
Platform to determine what this amount will be.
Funds are deducted in the opposite circumstance--if
the client is short the currency with the higher
interest rate, the client will pay interest. For
short positions, the client may consult the Intr
S (Interest Sell) column of the FX Trading Platform
Simple Dealing Rates.
Standard Account Swap Charges
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