Forex is the largest financial market in the world. Simply put, it is how individuals and businesses convert one currency to another. FX transactions worth trillions of dollars take place every day, and unlike stocks or commodities, there’s no central exchange. The flexibility of this market allows for a variety of operators to make use of it. Whether it is a multinational corporation buying a business in another country, an importer paying for goods purchased overseas, an investor paying for an asset he or she has purchased valued in a currency other than his or her own, or a retail trader/speculator, the forex market provides sufficient liquidity when speculating currencies.
Please bear in mind that triple swaps are charged on Wednesdays (for currency pairs and metals) and on Fridays (for indices and energies) to cover costs incurred over the weekend. All margin and swap rates are reviewed and monitored regularly.
|Symbol||Spread||ContractSize||Long Swap||Short Swap||Stop Level|
From 15 minutes prior to and up to 5 minutes following the publication of high-level economic news, margin requirements for new positions opened for instruments affected by the published news will be calculated based on a maximum leverage of 1:200. Following this period, the margin for these positions will be recalculated based on the funds in your account and selected leverage. From 19:00 GMT+0 on Friday through to 23:00 GMT+0 on Sunday, the margin requirements for newly opened positions will be calculated based on a maximum leverage of 1:200.
Fixed Margin Requirements
Margin requirements for some instruments are fixed, regardless of the leverage you use. These instruments are listed under the Exotic, Crypto, Energies, and Indices instrument groups in the table above.
At Exness, we know how it feels when your pending order falls in a price gap, so it’s only fair that we guarantee no slippage for virtually all pending orders that are executed at least 3 hours after trading opens for an instrument. If, however, your order meets any of the following criteria it will be executed at the first market quote that follows the gap:
- If your pending order is executed in market conditions that are not normal, such as during a period of low liquidity or high volatility
- If your pending order falls in a gap but the difference in points between the first market quote (after the gap) and the requested price of the order is equal to or exceeds a certain number of points (gap level value) for a particular instrument
The following rules apply when it comes to setting levels for pending orders:
- Pending orders along with Stop Loss and Take Profit (for pending orders) must be set at a distance (at least the same as current spread or more) from the current market price
- SL and TP in pending orders must be set at least the same distance from the order price as the current spread
- For open positions, SL and TP must be set at a distance from the current market price which is at least the same as that of the current spread
Please be aware that as spread is floating, our contract specifications state the average spread. For certain instruments you'll see two figures separated by a hyphen; the first one is the minimum spread, and the second one is the average spread. The average spread is calculated by dividing the sum of spreads on all the ticks for a given period by the number of ticks.
Examples of execution of pending orders
Imagine this. You place a pending Buy Stop order for EURUSD at the price 1.30560. Then, a price gap appears. The last Ask price before the gap was 1.30550, and the first Ask price right after the gap was 1.30620. To determine the price that your Buy Stop order will be executed at, we need to find the difference in points between the first Ask price after the gap and the price you specified in your order:
(1.30620 - 1.30560) = 0.00060 = 6 points.
Now, check the table to find the Gap Level value for the instrument you are trading - in this case EURUSD. In our example, your order falls in the gap which basically means that the difference between the first market price after the gap and the order price is less than the Gap level value (6 < 8).
That's why your Buy Stop order will be executed at the price you specified in your order: 1.30560. This means that your order will be executed at a price which is 6 points more profitable than the current market price.
Imagine that you placed a pending Sell Stop order for GBPUSD at a price of 1.40280. A price gap then appears. The last Bid price before the gap was 1.40300, and the first Bid price after the gap was 1.40170. To find the price that your Sell Stop order will be executed at you need to check the difference in points between the first Bid price after the gap and the price you specified in your order:
(1.40170 — 1.40280) = 0.00110 = 11 points.
Now check the table and compare this difference with the Gap Level value for the given instrument. In the example above, the first market price differs from the order price by an amount greater than the value of the Gap level (11>10). So, this Sell Stop order will be executed at the first market price after the gap, namely 1.40170.