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Mini Trading Account
Dealing Details
Dealing Hours
Subject to available liquidity, trading is open 24 hours a day, from Sunday, 22:15 GMT, until Friday, 21:00 GMT. Quotations, order placement, and confirmation available online or via telephone.
Spreads
Lowest and average spreads detailed below. For the majority of our currency pairs, lowest spreads are most commonly found during US & European trading sessions.
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Currency Pair |
As Low As |
Typical Spread |
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EUR/CHF |
0.1 pip |
2 pips |
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EUR/GBP |
0.6 pip |
2.4 pips |
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EUR/USD |
0.9 pip |
2.3 pips |
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USD/JPY |
0.5 pip |
2.9 pips |
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GBP/USD |
0.8 pip |
3.7 pips |
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USD/CHF |
1 pip |
3.8 pips |
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AUD/USD |
1 pip |
3.7 pips |
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USD/CAD |
1 pip |
4.8 pips |
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EUR/JPY |
0.9 pips |
3.9 pips |
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CHF/JPY |
1 pip |
3.5 pips |
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AUD/JPY |
2.3 pips |
5 pips |
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NZD/USD |
0.8 pip |
4 pips |
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GBP/CHF |
1.1 pips |
6.8 pips |
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EUR/CAD |
2.4 pips |
6 pips |
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AUD/CAD |
2.6 pips |
6.5 pips |
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CAD/JPY |
1.3 pips |
5 pips |
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GBP/JPY |
3 pips |
5.3 pips |
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NZD/JPY |
2.9 pips |
6 pips |
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EUR/AUD |
2.8 pips |
7.9 pips |
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EUR/NZD |
2.5 pips |
7 pips |
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AUD/NZD |
4 pips |
7 pips |
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GBP/AUD |
4.7 pips |
10 pips |
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USD/DKK |
0.2 pip |
6.3 pips |
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AUD/CHF |
1.6 pips |
4.8 pips |
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USD/SGD |
3.5 pips |
7 pips |
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USD/HKD |
4.5 pips |
13 pips |
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GBP/CAD |
0.6 pip |
10.8 pips |
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GBP/NZD |
7.8 pips |
17 pips |
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USD/MXN |
Variable |
Variable |
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Trade Size
On the FXCM trading platform all trades are executed in standard sizes of 10,000 base currency per one lot.
Here are some examples:
- U.S. Dollar / Japanese Yen (10,000 U.S. Dollars)
- Euro / U.S. Dollar (10,000 Euros)
- Euro / Great Britain Pound (10,000 Euros)
- Euro / Japanese Yen (10,000 Euros)
Types 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.
Margin
FXCM enables currency trading to be conducted on a highly leveraged basis.* Every trader is able to select the degree of leverage or gearing that the trader wishes to employ in trading. Unless the trader specifies otherwise, FXCM sets the leverage level at FXCM's default margin level for the deposited amount. The requirements for leverage vary with account size, and may be changed from time to time at the sole discretion of the dealing desk, based on volume traded and market conditions.
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Account Type |
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Default Margin Level |
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Lowest Available Margin Level |
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EUR/GBP/USD Mini |
€50/Lot, £50/Lot or $50/Lot
(approximately .5%) |
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€50/Lot,
£50/Lot
or $50/Lot |
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100K |
$1,000/Lot
(approximately 1%) |
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$500/Lot |
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Not available for accounts over €100,000, £100,000 or $100,000. |
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Not available for accounts over $250,000. |
Up to 200:1 Leverage*
Clients must have approximately .5% of the value of the positions they hold in their account for each lot of currency being traded (approximately 200:1 leverage). This equates to $50 per lot (10,000 units). This amount does not change after 22:00 GMT, which is the rollover cut off, but stays constant at approximately .5% per lot the entire day and overnight.
Guaranteed Limited Risk
There is also an important safety feature embedded in our system that prevents clients from losing more money than they have in the account. Should the account equity -- meaning the total floating value of the account -- fall below the margin requirement of approximately .5% per lot, the dealing desk may close all open positions.
Rollover/Interest Policy
In the spot forex market, trades must be settled in two business days. If a trader sells 10,000 euros on Tuesday, the trader must deliver 10,000 euros on Thursday, unless the position is rolled over. As a service to our traders, FXCM automatically rolls over all open positions to the next settlement date at 22:00 GMT. Rollover involves exchanging the position being held for a position expiring the following settlement date. The positions being exchanged are usually not valued at the same price. The amount of the difference varies greatly based on the currency pair, the interest rate differential between the two currencies, and fluctuates day to day with the movement of prices.
Note: On Wednesdays, the amount added or subtracted to an account as a result of rolling over a position tends to be around three times the usual amount. This "3-Day" rollover accounts for settlement of trades through the weekend period.
Why does rollover take place? At 22:00 GMT, funds are subtracted or added to accounts with open positions because of the automatic rollover.
*Without proper risk management, this high degree of leverage can lead to large losses as well as gains.
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Mini Accounts
