Forex 100K Trading Account Details
The Standard Forex Trading Account was designed for those who are already involved to the FX market. The Standard account trades in contract sizes of 100,000 units, 10 times more then the size of a Mini account.
The Standard Trading Account is ideal for active traders wishing to leverage the advantages of FX trading. traders receive rapid execution** from real time streaming quotes 24-hours a day.
Subject to available liquidity, the trading desk is open from 5:15 PM ET Sunday afternoon through 4:00 PM ET Friday afternoon. Quotations, Order Placement, and Confirmation available online and via telephone.
Trade Size
On the FX trading platform all trades are executed in standard sizes of 100,000 base currency per one lot. There is no maximum trading volume on the FXTrading Station, however, for trading sizes larger than $10,000,000, traders must request a quote over the telephone.
Smaller trade size available via the Mini Forex account. Click here to learn more.
Type 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. Click here to learn more about the different types of orders.
Up to 100:1 Leverage*
Clients must have approximately 1% of the value of the positions they hold in their account for each lot of currency being traded (approximately 100:1 leverage). This equates to $1000 per lot (100,000 units). This amount does not change after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 1% per lot the entire day and overnight.*
*Leverage without proper risk management, this high degree of leverage can lead to large losses as well as gains.
Deposit Options
In addition to the US dollar, traders have the option of depositing funds and viewing all trading information in EUR or GBP. For European clients in particular, this option will be of great convenience in handling all the administrative duties of trading -- thus allowing traders to focus more of their attention and energy on analyzing forex market movements.
Margin: Managing your Risk in the FX Market
By trading on margin, traders have the ability control positions much larger than there deposit. The margin deposit for leverage is not a down payment on a purchase of equity, as many perceive margins to be in the stock markets. Rather, the margin is a performance bond, or good faith deposit, to ensure against trading losses.
This is very useful to short-term day traders who need the enhancement in capital to generate quick returns. However, leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains. To help manage your risk, the trading platform offers a unique margin watcher feature, if the equity in your account drops below the margin required to maintain your open positions, the dealing desk will close all open positions.
This guarantees limited risk. You also have the ability to track your margin in real time. In the accounts window you will see two columns: used margin and usable margin. The used margin indicates funds currently pledged towards open positions. You can think of usable margin as your "wiggle" room. Once usable margin reaches zero, a margin call will ensue and all open positions will be closed by the dealing desk.
*Leverage without proper risk management, this high degree of leverage can lead to large losses as well as gains
.* Leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
** Source:http://www.nfa.futures.org/news/... (FXCM is the FDM referenced in this NFA document as holding in excess of $215 million in customer funds.)
Forex 100K Trading Account Details
