The currency denomination of the trading account will be offered in SGD or USD.
Our trading platform operates on Net Mode. The same set of multiple positions of the same currency pair will be netted and volume-weighted average price will be displayed.
The minimum size of a contract is 1,000 notional, which is a micro-lot as compared to a standard lot which is a 100,000 notional.
There is no minimum deposit amount required.
All realised profit or loss will be converted to SGD or USD depending on the account’s currency denomination (base currency). Your profit and loss in various currencies will be converted to your account base currency using our end of day mid-rate.
There is no commission charge and trading cost will be the spreads and swaps applicable when buying and selling foreign exchange (if any).
A spot transaction is generally due for settlement within two business days (the value date). There will be swap charges or gains for holding overnight positions after end of New York trading. However, there may be withholding tax payable on positive swaps for overseas clients, subjected to prevailing Singapore government rate.
We will automatically roll over all open positions allowing clients to hold their position indefinitely, provided no margin call or auto-liquidation has taken place.
Yes, a margin call will be triggered when the total equity of your account is less than the margin requirement of all your open positions. If the required margin is not received within three (3) business days or the deposited equity is not sufficient to meet the required margin amount, it is in the firm’s discretion to close all open position(s) at any time, without notice to the client.
Yes, when the equity in your account is not sufficient to absorb the loss sustained as a result of the extreme market moves.
Our trading platform has an Auto Liquidation feature which will automatically liquidate all open positions when the total equity in your account is less than 30% of the total required margin of all open positions.
Yes, while the Auto-Liquidation mechanism serves to protect you and reduce the chances of your account going into an over loss situation, over loss is still possible if there are big fluctuations or swings in the foreign exchange market.