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Available for all Trendoks IMG clients on all types of accounts:
15 currency pairs;
Hedging: Permitted;
Overnight Interest/Rollover charged or paid at 5 PM EST (NY Time);
Stop and Limit Orders Execution Rule: Both orders are executed at the moment when the market price touches the specified price;
Market Working Hours: From Sunday 5 PM EST to Friday 4 PM EST;
Forex
You can trade through our company in several currencies as outlined in the following table.
|
Currency code
|
Standard-Forex
|
Mini-Forex
|
|
Lot amount in base currency
|
Point Value in Contra Currency
|
Lot amount in base
currency
|
Point Value in Contra
Currency
|
|
EUR/USD
|
100.000
|
10
|
10.000 |
1
|
|
GBP/USD
|
100.000
|
10
|
10.000
|
1
|
|
USD/CHF
|
100.000
|
10
|
10.000
|
1
|
|
USD/JPY
|
100.000
|
1000
|
10.000
|
100
|
|
AUD/USD
|
100.000
|
10
|
10.000
|
1
|
|
USD/CAD
|
100.000
|
10
|
10.000
|
1
|
|
EUR/CHF
|
100.000
|
10
|
10.000
|
1
|
|
EUR/GBP
|
100.000
|
10
|
10.000
|
1
|
|
EUR/JPY
|
100.000
|
1000
|
10.000
|
100
|
|
GBP/CHF
|
100.000
|
10
|
10.000
|
1
|
|
GBP/JPY
|
100.000
|
1000
|
10.000
|
100 |
Trendoks Trading Hours
The currencies are traded on a 24-hours per day basis starting from 14.00 (2:00) PDT on Sunday through 12.00 hrs (12 noon) PDT on Friday.
Trading Contract Size
We offer two sizes of currency contracts, or lots, to trade: the standard size (100.000 units of the base currency) and the mini-contract (10.000 units of the base currency).
Mini-Forex is intended primarily for novice traders for the purpose of limiting possible losses while learning to trade with a real account.
Mini-Forex trading allows small initial margin deposits minimum of $300, while the Standard Forex trading requires a minimum initial deposit starting at $2000.
Commission
We charge no commission. There is, however, a market spread between the bid and ask rates. There is no other commission or additional charges.
Swap
|
BUY |
SELL |
| EUR/USD |
-8.95 |
8.3 |
| USD/JPY |
14.35 |
-14.55 |
| GBP/USD |
-4.4 |
3.4 |
| USD/CHF |
10.45 |
-10.95 |
| EUR/CHF |
4.95 |
-5.15 |
| EUR/JPY |
8.8 |
-9.2 |
| GBP/JPY |
21.9 |
-23.4 |
| EUR/CAD |
-5.1 |
4.5 |
| AUD/USD |
0.55 |
-1.05 |
| USD/CAD |
2.65 |
-2.9 |
| EUR/GBP |
-6.65 |
5.15 |
| GBP/CHF |
15.1 |
-17.1 |
Points in the table above are equivalent to the difference between short-term interest rates in the home countries of each currency in the pair. These points are constantly changing depending on interest rate changes. As the value date of transactions made on a Thursday will be the next Monday, a triple differential will be assessed against a client’s account. If the position will remain open on a Friday through the weekend, Trendoks IMG will credit (or debit) a one-time differential to the client’s account on Monday.
Spreads
A spread is the difference between the bid (left) and the asked (right) sides in a currency pair’s price quote. Under normal market conditions, the spreads for each currency cross are represented in the table below. These spreads may widen during volatile market conditions.
| AUD/USD |
5 |
| USD/CHF |
5 |
| USD/JPY |
4 |
| USD/CAD |
5 |
| EUR/CHF |
5 |
| EUR/GBP |
5 |
| EUR/JPY |
5 |
| EUR/USD |
3 |
| GBP/CHF |
10 |
| GBP/JPY |
10 |
| GBP/USD |
4 |
Leverage
A lot (contract size) in the Standard Forex market equals 100,000 units of the base currency while a lot in the Mini-Forex equals 10,000 units of the base currency. You can calculate the margin amount necessary to open a position (buy or sell a lot) using the leverage you desire. The maximum number of lots you are able to buy/sell equals is a maximum whole number which cannot exceed N:
M * L
N = ----------------
Lot
Where:
M = Free margin
L = Leverage (selected by you). If the selected Leverage is 50:1 then L=50.
Lot = lot amount (Standard Forex=100,000 or Mini-Forex=10,000)
We offer the following leverage ranges:
| Mini Forex |
Standard Forex |
| 1:100 |
1:1 |
1:10 |
1:25 |
1:33 |
1:50 |
1:100 |
1:200 |
A customer can select the leverage s/he desires, when signing the opining form Agreement. In doing so, the customer is actually determining her/his ability to borrow money and the corresponding risk/profitability level.
Margin Requirements
The minimum margin required to open a position depends on the selected leverage and ranges between 2% and 100% of the position. The margin is calculated in US dollars for open positions including those where the dollar is not the base currency. For example if you are trading with a leverage of 50:1 and you decide to buy 200,000 EUR for JPY, the required margin is 200,000/50=4,000 EUR. If the current rate of EUR/USD is 0.9220, then you need a minimum of 4,000*0.9220=$3,688 available in your account for opening this position.
Used Margin is the amount of money supporting open positions. Free Margin is the positive difference between the lesser of your Balance amount or Equity, and your Used Margin. If you do not have a positive Free Margin you cannot enter into a new trade.
Short Margin
Our company allows you to keep positions open even when your Equity becomes less than the Used Margin. However, you are not allowed to open a new position when your Free Margin equals zero. If your Equity drops below 30% of the Used Margin, your account becomes Short on Margin. At that instant, the system automatically closes your positions starting with the largest loss. This process doesn’t change your Equity while the Used Margin is decreasing with each closed position until your Equity will exceed the 30% Short Margin threshold. This flexible approach gives you the opportunity to keep some of your positions open, allowing you to capitalize on positive market trends. Many other Online Foreign Exchange brokers liquidate all positions, when a Short Margin occurs, depriving their customers to participate in potentially profitable market movements.
Orders
Our trading software processes the following types of orders:
Buy Limit
Sell Limit
Buy Stop
Sell Stop
Market
If you have an open position, you may place two orders simultaneously or separately (Stop Loss and Take Profit) to limit your losses and/or take your profit in this position. Stop Loss and Take Profit may be applied for all of the aforementioned types of orders. If one of the orders is executed and the position is closed, the second order will be cancelled automatically. The trading system allows you to open any number of orders for any currency crosses. If order execution entails opening a new position, the system will check your Free Margin to ensure that you have enough money. In case the Free Margin is not sufficient, the system will not accept your orders.
Orders may be placed no closer than one spread away from the current market. For example, in most cases, our spreads are five pips, so any order that is placed in the system must be at least five pips away from the current market price. Orders that are too close to the market will receive the text “Invalid Price”, and will have to re-enter the order.
Current Account Position And Statements
Your current account position is available online on a 24 hours basis and customers can print it as needed. Using the Trading Terminal you can display current profits and losses, and a list of open positions and waiting orders at any moment.
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