Forex Product Specifications
The product specifications allows you to understand the spreads, margin and trading hours of the commonly traded pairs.
Margin Rate From
Trading Hours (GMT +8)
|EURUSD.||0.7||1.00%||05:05 (Mon) – 04:59 (Sat)|
|GBPUSD.||1.0||1.00%||05:05 (Mon) – 04:59 (Sat)|
|USDJPY.||0.7||1.00%||05:05 (Mon) – 04:59 (Sat)|
|AUDUSD.||0.8||1.00%||05:05 (Mon) – 04:59 (Sat)|
|NZDUSD.||1.2||1.00%||05:05 (Mon) – 04:59 (Sat)|
|USDCHF.||1.0||1.00%||05:05 (Mon) – 04:59 (Sat)|
|USDCAD.||0.8||1.00%||05:05 (Mon) – 04:59 (Sat)|
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To calculate margin utilisation for each instrument, you may use the Forex Calculator here.
About Forex Trading
The spreads shown above are of normal market conditions and may widen during volatile periods like news announcements / releases, political uncertainty and/or close of business days nearing to weekends where liquidity is lower. All your trades are passed on to our Tier 1 liquidity providers, C 7 Traders will never act as a counter-party to your trades.
Should you have open position(s) that run into the next trading day, your position(s) will incur rollover swaps which is calculated on the basis of interest rates difference of the two currencies between the currency pair. On Wednesday, swaps will be charged 3x to include the weekends.
Forex trading or FX trading, refers to buying a particular currency while selling another simultaneously in an exchange. Trading currencies always involves exchanging one currency for another. In fact, you are trading the Forex market when you visit a currency exchange before your holiday destination.
The Forex market is the most liquid and volatile market with over $5 trillion traded daily.
Forex trading is always done on a currency pair, in which the first currency is known as the Base Currency, while the other is known as Quoted Currency.
For example, EURUSD. 1.17620 is the price of Euro expressed in US Dollars, meaning 1 Euro = 1.17620 US Dollars.
Major pairs are currency pairs that has the USD in it, they include the most commonly traded pairs like:
EURUSD. GBPUSD. USDJPY. USDCHF. USDCAD. AUDUSD.
The direct opposite of Majors, Minor pairs or crosses are currency pairs that does not have the USD in it.
The market participants trading Forex is large and diverse, they can be
- Governments and Central Banks, trading currencies to adjust economic conditions
- Investors or speculators aiming to profit for capital gains
- Corporations that purchase raw materials overseas
- and travelers or overseas consumers who exchange currency to travel / purchase goods overseas.
Forex Trading Terminologies
If you’re new to Forex trading, you will come across various terminologies being used to describe the condition of your trading account. You may refer to the quick explanation below or refer to our FAQ page.
Equity fluctuates according to the P/L of your current orders. It is the true reflection of funds in your account.
Balance shows the amount of deposited money in your trading account. Your P/L will be added or deducted to/from your trading account balance when you close your orders.
Margin is the amount of the money that is used to open a position or trade and it is calculated based on the leverage. You may use the Forex Calculator to calculate margin requirements for each instrument.
Margin Used = Units Opened * Leverage * Base Currency in USD.
For example: 1 Lot of USDCAD
Margin Used = 100,000 * 0.01 * 1 = US$1,000
For example: 1 Lot of GBPUSD
Margin Used = 100,000 * 0.01 * 1.4000 = US$1,400
Free Margin is the difference of your account equity and the open positions’ margin. It represents the available margin that you have to open position(s).
Equity – Margin Used = Free Margin
Margin Level shows the state of a trader’s trading account. It is the ratio of equity to margin used.
This is also one of the most important aspect that you should look out for as Margin Call and Stop Out depends on it.
For Example: If you have an equity of US$5,000 with margin used of US$1,000 on 1 Lot of USDCAD,
When your account falls by -US$3,500 (350 pips), your equity will be at US$1,500 which is 150% of your margin used. This is where you get an alert on your platform or Margin Call.
When your account falls by -US$4,000 (400 pips), your equity will be at US$1,000 which is 100% of your margin used. This is where you get Stopped Out. Should you have more than one open positions, the one with the largest loss will be closed off first.
*Please note that it is your responsibility to monitor your account margin utilisation and open positions so as to prevent getting stopped out. Take immediate actions by depositing into your account when you are having a Margin Call to prevent it from being Stopped Out.
If you are trading Forex pairs with USD as the quoted currency (EURUSD, GBPUSD, AUDUSD)
1 Lot for 1 pip is always US$10
0.1 Lot is US$1
0.01 Lot is $0.1
If you are trading Forex pairs when USD is NOT the *quoted currency (EURCHF, EURGBP, GBPAUD) 1 Lot for 1 pip is in the respective quoted currency.
10 CHF is ~US$10.30
10 GBP is ~US$13.07
10 AUD is ~US$7.48
*Price will fluctuate due to market movement is used as an example only
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