FX Specifications & Trading Hours

Specifications

Product Symbol Contract Size Minimum Fluctuation Minimum Fluctuation Value Spread Necessary Margin per lot
EURUSD 10,000EUR 0.00001USD/EUR 0.1USD 3Pips 1 percent of contract size
click herefor details
USDJPY 10,000USD 0.001JPY/USD 10JPY 3Pips
GBPUSD 10,000GBP 0.00001USD/GBP 0.1USD 3Pips
USDCHF 10,000USD 0.00001CHF/USD 0.1CHF 3Pips
USDCAD 10,000USD 0.00001CAD/USD 0.1CAD 5Pips
AUDUSD 10,000AUD 0.00001USD/AUD 0.1USD 3Pips
EURJPY 10,000EUR 0.001JPY/EUR 10JPY 3Pips
GBPJPY 10,000GBP 0.001JPY/GBP 10JPY 7Pips
CHFJPY 10,000CHF 0.001JPY/CHF 10JPY 5Pips
CADJPY 10,000CAD 0.001JPY/CAD 10JPY 5Pips
AUDJPY 10,000AUD 0.001JPY/AUD 10JPY 5Pips
EURGBP 10,000EUR 0.00001GBP/EUR 0.1GBP 3Pips

Notes:

  • In USD account, if minimum fluctuation value is in other currencies except US Dollar, it will be exchanged to dollar automatically at real-time rate by the system.
  • The items listed above may be adjusted and changed with the circumstances. Please take the actual situation as the criterion.
  • Please contact with our customer service department to inquire about the commission.
  • With sufficient funds, the maximum of an order placing is 500 lots and of positions in each account is 9999.

Trading Hours

Summer Time from Mar to Nov GMT+8 Winter Time from Nov to Mar GMT+8
Trading Hours Mon 6:01 a.m. ~ Sat 4:00 a.m. Mon 7:00 a.m. ~ Sat 5:00 a.m.
Rollover Time From Tue to Fri daily 4:55 a.m.
Sat 4:00 a.m.
From Tue to Fri daily 5:55 a.m.
Sat 5:00 a.m.

Notes:

  • Winter time and summer time are subject to United States time. Prior to conversion, it will be notified in advance on the home page.
  • During the 5 minutes after rollover, since the trading system updates the trading date, no order or instruction will be executed.
  • Some or all of the products will be closed on Christmas Day and New Year’s Day, which will be notified in advance on the home page.

Margin & Auto Settle

When setting up a new position

  • FX:Necessary Margin = Open Price × Contract Size × 1%

When holding a position at the time of rollover

  • FX:Projected Margin =Close Price× Contract Size × 1%

Projected Margin at the time of rollover will be the necessary margin for the outstanding position in the next trading day.
If it’s a long position, Close Price should use ask price.

Necessary Margin of Hedge Position: If the long position and the short position of the same product are held at the same time, necessary margin will be calculated by the higher open price between the long and the short position.

Calculation Formula of Margin

  • Current Margin Percentage = Effective Margin/ Necessary Margin
  • Projected Margin Percentage = Effective Margin / Projected Margin
  • Effective Margin= Balance±Floating P/L
  • Variation Margin= Effective Margin- Necessary Margin

Example of Margin

In General

e.g. Buying a lot of EUR/USD at 1.12000, and closing price at rollover time is 1.12500.

  1. When setting up the position
    Necessary Margin = 1.12000(Open Price)×10000×1%=112 dollars
  2. When holding the position at the time of rollover
    Projected Margin= 1.12500(Close Price)×10000×1%=112.50 dollars
  3. Necessary Margin of this outstanding position in the next trading day will be 112.50 dollars.

For Hedge Position

e.g. Buying a lot of EUR/USD at 1.12000, and meantime selling a lot of EUR/USD at 1.12020.

  1. Necessary Margin of Long Position
    Necessary Margin = 1.12000×10000×1%=112 dollars
  2. Necessary Margin of Short Position
    Necessary Margin = 1.12020×10000×1%=112.02 dollars

So, the necessary margin of the hedge position is 112.02 dollars.

Auto Settle

All the currency pairs of the FX trading belong to spot products.

Auto Settle Rules of Spot Products

During the trading hours from Monday to Friday, if the current margin percentage drops below 25%, auto settle starts. And, at the moment of market close on Friday or on a certain trading day before a holiday, if the projected margin percentage drops below 100%, auto settle also starts.

  • Auto settle starts automatically at the real-time price until the effective margin meets the requirement.
  • For 2 or more outstanding positions, auto settle adheres to the principle of last in, first out.
  • Auto settle is no guarantee that the client’s loss can be exactly controlled at a price equivalent to the set amount of auto settle. When market price fluctuates violently and against the client, it’s likely that the execute price is more unfavorable for the client than the price of auto settle in theory, which may cause the deficit in the book account and require margin call.

What Is Rollover

The delivery day can be extended to the next trading day in the settlement, which is called rollover.

The parties of a FX trade (interbank market) normally execute at the current exchange rate in the FX market and take delivery two days after the trading day. But for positions in FX margin trading, the actual delivery day can be infinitely extended through rollover. In other words, clients can hold their positions for a long term and don’t need to worry about the delivery.Rollover will generate no commission charge.

Swap Interest

Swap interest is the interest accrued from interest rate difference between two currencies traded during rollover. Swap means exchange. What exchanged,
in this context, is interest rate of different countries. Because of different economic situations, different countries have different interest rates. If one buys a currency with a higher interest rate and sell a currency with a lower interest rate and holds the position to the next trading day, he/she can collect interest. On the contrary, if one sells a currency with a higher interest rate and buy a currency with a lower interest rate and holds the position to the next trading day, he/she will pay interest. For example, the interest rate of Australian Dollar is higher than the one of Japanese Yen. So when you buy AUD/USD and hold the positions to the next trading day, you can collect the net interest, which is the difference between you collect the interest of Australian Dollar and you pay the one of Japanese Yen. On the contrary, you will pay the interest. The FX swap interest is settled at the moment of market close.

Notes:

  • Swap interest accrues from FX outstanding positions held at rollover, and will be debited or credited in the account balance.
  • Swap interest also accrues on holidays.
  • Swap interest based on the interest rate of two different countries will be published in “View----Product Facts” of the trading platform.
  • The running method of swap interest is the same as FX deposit. With the changes of a country’s economic conditions, its interest rate will be adjusted at any time. In other words, the swap interest in the future may be collected or paid more than present, or may be less.

Interest Days

The interest day is determined basing on the difference of delivery date between buying and selling instead of the difference of transaction date. The delivery is usually made within 2 days after the transaction. For example, with the outstanding positions at rollover from Wednesday to Thursday, the actual delivery date is respectively on Friday and next Monday, which is the reason that rollover on Wednesday needs to pay interest of 3 days. While with the outstanding positions at rollover from Friday to next Monday, the actual delivery date is respectively on next Tuesday and next Wednesday, which is the reason that rollover on Friday only needs to pay interest of 1 day.Usually, the interest day of a week from Monday to Friday is counted by 1day, 1day, 3days, 1day and 1day. But when it’s on Christmas Day or New Year’s Day, the rules of the interest day in a week may vary with the conditions.