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Forex Trading

We bring some of the best liquidity from some of the top-tier banks to you.

Foreign Exchange market is often known as Forex or FX market. The FX market is by far the most liquid financial market worldwide that operates 24 hours a day 5 days a week. The daily turnover recorded *US$5 trillion across different FX instruments such as Spot, Outright Forwards, FX Swaps, Currency Swaps and FX Options. Spot transactions or Spot FX constitute US$1.65 trillion or 32.6% of the total daily turnover. Would you like to participate in the world’s most liquid market? Speak to us now to find out more+.

*Source: Bank for International Settlements Triennial Central Bank Survey 2016
+ We only offer Spot FX trading on leverage basis or also known as margin FX trading or leveraged FX trading

Over-the-Counter Market (OTC)

Unlike exchange-traded securities, FX market is mostly traded on an over-the-counter or OTC basis. So what is an OTC market? An OTC market is not channelized via any centralized exchange. Investors trade into the OTC market buying and selling one currency against another (currency pairs) on prices quoted by market makers. Market makers are primarily banks and non-bank financial institutions. We provide direct market access to this liquidity pool as the counterparty to you.

Spot FX Contract Specifications

Spreads (Indicative)
    • Currency Pair
      Spread
    • AUD/CAD
      2.3
    • AUD/CHF
      1.9
    • AUD/JPY
      1.9
    • AUD/NZD
      3.2
    • AUD/USD
      1.7
    • CAD/CHF
      2.0
    • CAD/JPY
      2.0
    • CHF/JPY
      2.5
    • CHF/NOK
      35.9
    • CHF/SEK
      31.1
    • EUR/AUD
      2.6
    • EUR/CAD
      2.5
    • EUR/CHF
      3.8
    • EUR/DKK
      9.2
    • EUR/GBP
      2.3
    • Currency Pair
      Spread
    • EUR/JPY
      2.4
    • EUR/NOK
      26.4
    • EUR/NZD
      4.0
    • EUR/SEK
      20.6
    • EUR/USD
      1.4
    • GBP/AUD
      3.4
    • GBP/CAD
      3.3
    • GBP/CHF
      2.8
    • GBP/JPY
      2.6
    • GBP/NZD
      5.1
    • GBP/SEK
      35.2
    • GBP/USD
      2.2
    • HKD/JPY
      97.9
    • NOK/JPY
      138.4
    • NZD/CAD
      2.7
    • Currency Pair
      Spread
    • NZD/CHF
      2.1
    • NZD/JPY
      2.3
    • NZD/USD
      2.1
    • SEK/JPY
      128.4
    • SGD/JPY
      2.3
    • USD/CAD
      2.5
    • USD/CHF
      2.2
    • USD/DKK
      9.7
    • USD/HKD
      8.0
    • USD/JPY
      1.9
    • USD/NOK
      26.0
    • USD/SEK
      21.2
    • USD/SGD
      2.8
    • USD/ZAR
      277.0
    • ZAR/JPY
      21.5

*You can download our KE Forex SG mobile apps from Apple Store or Google Play to view our streaming live prices.

Leverage Ratio/Margin Requirement (Indicative)

Leverage provides you the ability to trade a larger amount with smaller initial deposit. The leverage ratio is a direct function of margin requirement. For example if the leverage ratio for EUR/USD is 1:25, with a US$100 deposit, you can trade up to US$100 x 25 = US$2,500. The leverage ratio of 1:25 is equivalent to 4% (1/25 * 100%). Hence, to trade a notional amount of US$2,500 at 4% margin requirement, you need to put aside US$100 as margin amount to open this position. Leverage ratios or margin requirements differ for different currency pairs determined by us from time to time.

    • Currency Pair
      Margin Requirement
    • AUD/CAD
      2.00%
    • AUD/CHF
      2.00%
    • AUD/JPY
      2.50%
    • AUD/NZD
      2.00%
    • AUD/USD
      2.50%
    • CAD/CHF
      2.00%
    • CAD/JPY
      2.50%
    • CHF/JPY
      2.00%
    • CHF/NOK
      2.00%
    • CHF/SEK
      2.25%
    • EUR/AUD
      2.00%
    • EUR/CAD
      2.25%
    • EUR/CHF
      2.00%
    • EUR/DKK
      6.00%
    • EUR/GBP
      2.25%
    • Currency Pair
      Margin Requirement
    • EUR/JPY
      2.00%
    • EUR/NOK
      2.00%
    • EUR/NZD
      2.00%
    • EUR/SEK
      2.00%
    • EUR/USD
      2.25%
    • GBP/AUD
      2.75%
    • GBP/CAD
      2.50%
    • GBP/CHF
      2.25%
    • GBP/JPY
      2.50%
    • GBP/NZD
      2.50%
    • GBP/SEK
      2.25%
    • GBP/USD
      2.25%
    • HKD/JPY
      6.00%
    • NOK/JPY
      2.50%
    • NZD/CAD
      2.25%
    • Currency Pair
      Margin Requirement
    • NZD/CHF
      2.00%
    • NZD/JPY
      2.25%
    • NZD/USD
      2.50%
    • SEK/JPY
      2.25%
    • SGD/JPY
      2.00%
    • USD/CAD
      2.50%
    • USD/CHF
      2.00%
    • USD/DKK
      6.00%
    • USD/HKD
      6.00%
    • USD/JPY
      2.75%
    • USD/NOK
      2.25%
    • USD/SEK
      3.00%
    • USD/SGD
      2.00%
    • USD/ZAR
      5.25%
    • ZAR/JPY
      4.50%

Get a free demo account now to view our leverage ratio and experience our trading platform.

Margin Call

Margin call occurs when your account equity falls below 100% of your margin used. You will need to make an additional deposit to resolve the margin call. Alternatively, you can close out some or all of your open positions to reduce your margin used. When your account is in margin call status, you are unable to open new positions but you can close out existing open positions.


E.g. you have US$5,000 in your account opening balance and you bought 100,000 EUR/USD position at 1.0650 for 4% margin requirement, your margin used will be US$4,260 (4% X 100,000 EUR X 1.0650 = US$4,260). Assuming the price falls to 1.0576 (74 pips), the unrealized loss is US$5,750. The account equity is now US$4,250 which is less than 100% of the margin used (US$4,260), your account is in margin call status.

Stop-out Level

In the event the account equity drops below 30% of the margin used at any point in time regardless whether an official margin call notification has been issued to you, the system will automatically close out all open positions in your portfolio to prevent further loss to your capital. Please be informed that the sell-out of all open positions is triggered by the system as market orders. You may lose more than your capital in some adverse market conditions.

Swaps

Swaps, often known as overnight interest or rollover interest, are interest payable or receivable for holding open positions overnight. You may pay or receive interest depending on the direction (buy or sell) and currency pair rolled over to the next trading day at New York close. The interest amount is dependent of the notional amount rolled over and the swap points quoted in pips.

Get a free demo account now to view our swap charges by holding some open positions overnight.

Minimum Lot Size

The minimum allowable notional amount is 0.01 of a standard lot or 1,000. There is no maximum lot size limit but the fill is subject to liquidity availability. Price slippages are expected for large notional amount.

Trading Hours

The FX market opens for 24 hours a day, 5 days a week. However, our trading platform has a blackout period of 5 minutes after market opens and 5 minutes before market closes. The blackout period was introduced to isolate off-market prices as liquidity is thin during that period.

    • Market
      Market Opens
    • New York
      8:00 am to 4:55 pm EST (EDT)
    • *Sydney
      5:05 pm to 2:00 am EST (EDT)
    • Tokyo
      7:00 pm to 4:00 am EST (EDT)
    • London
      3:00 am to 12:00 noon EST (EDT)
  • * Trading starts on Sunday 5:05pm NY EST (EDT)
    EST = Eastern Standard Time (autumn/winter)
    EDT = Eastern Daylight Time (spring/summer)

Conversion Rates

Your profit and loss in various currencies will be converted to your account home currency using our end of day mid-rate.

Risk of LFX Trading

Forex trading involves the risk of loss and is not suitable for many members of the public. Before deciding to trade foreign exchange, you should carefully consider your financial situation and consult your independent financial adviser on the suitability of Forex for you.

High-Risk Investment

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss on some or all of your initial investments and therefore you should not invest money that you cannot afford to lose. You should be aware of and take note of all the risks associated with Forex trading, and you should seek advice from a qualified professional, such as an independent financial adviser, if you have any doubts.

Losses May Exceed Initial Deposit

Forex trades are leveraged transactions. An investor must deposit collateral, or "margin", with Maybank Kim Eng in order to transact. The high degree of leverage that is often obtainable in margin trading can work against the investor as well as for the investor due to fluctuating market conditions. The investor may sustain large losses as well as gains in response to a small market movement; while the initial margin required to enter into a transaction may be small relative to the value of the transaction, a relatively small market movement would have a proportionately larger impact. Hence, the investor may sustain losses in excess of any cash and any other assets deposited as collateral with Maybank Kim Eng. The investor may be called upon at short notice to make additional substantial margin deposits or interest payments. In certain instances, the investor's position may be liquidated without his or her consent or notice.

No Guarantee that Loss will be Limited

Under certain trading conditions, it may be difficult or impossible to liquidate a position due to a lack of liquidity. For example, this may occur if the price of a currency pair rises or falls rapidly after major news or when the market reopens after a weekend. A "stop loss" order therefore cannot guarantee that your loss will be limited.