FAQ: Account Types and Trading Terms
- Our spreads are not fixed and depend on the buy and sell orders that are currently available in the Marketplace.
- Margin Call happens when a client's account equity falls below the required Margin to maintain open positions. It’s done automatically. On market-maker accounts (Micro accounts) Margin call happens when Margin level falls below 20% (i.e. Equity falls below 20% of Margin for open positions). When Margin level falls below 10% (i.e. Equity falls below 10% of Margin for open positions) the losing position will be closed automatically by the broker (Stop Out).
- Yes, we allow the use of Expert Advisors on Micro accounts with the following restrictions:
- For the latest information, please see PROMOS menu on the official website.
Available to clients of FXOpen Markets only. - Register an account with FXOpen. Send a request to make your account SWAP-free to Customer Support Portal. In the request, indicate your FXOpen account number and attach a document confirming that you profess Islam.
- A position is kept open until:
- After a deal is confirmed, a notification appears within a few seconds. You can check the transaction information in the Journal and Trade tabs of the Terminal window in MetaTrader.
- Pip value for ECN/STP accounts (5th decimal pricing)
Pip (percentage in point) is the smallest change in four decimal place currency quotes (as well as in two decimal place quotes for pairs containing JPY). The fifth digit after the decimal point in quotes for currency pairs (as well as the third one for pairs with JPY) shows the price change discreteness within the four (two) decimal place quotes, i.e. the minimum quote change.
Quotes with 5 decimal places allow better transparency and better ability to catch better deals. For example, instead of 2 pips spread (1.5030 Bid 1.5032 Ask), a trader can get a 1.7 pip spread (1.50301 Bid 1.50318 Ask).
To know what a pip is in 5 digit quote, take the exchange rate and count 5 digits backwards. For instance, the EUR/USD is at 1.00615. Count 5 digits from the first: 1, 0, 0, 6, 1. The 1 is the 5th digit in the quote and it's at the 4th position after the decimal point, so a pip for the EUR/USD is 0.0001. The last digit in 5 decimal pricing is a ‘fractional’ pip. In our example is 8.1 ‘fractional’ pip is 0.1 of a pip. To calculate pip value you can use the following formula:
Example 1. 0.1 standard lot EUR/USD at the price 1.33391.
To convert EUR 0.07496 to USD you must multiply:
As you can see from the example 1 - ‘Fractional’ pip value is $0.1 that means 1 pip value is $1.
Example 2. 0.1 standard lot USD/JPY at the price 84,058.
As you can see from the example 2 - ‘Fractional’ pip value is $0.1 that means 1 pip value is $1.
- Pip value calculation
Example 5. 0.1 lot Gold.
10. Restrictions on news trading: Freeze Time.
On Micro accounts, restrictions apply to news trading. During a specific period of time (Freeze Time) before, during and after an economic event announcement (news) Pending Buy and Sell Stop orders cannot be placed, closed, deleted or modified. These restrictions apply to a single Buy/Sell Stop Pending order, as well as to opposite Buy/Sell Stop Pending Orders. By opposite (or ‘Corresponding’) stop orders we mean two stop orders (a Buy Stop and a Sell Stop) placed on the same currency pair, at the same time.
If you try to place, modify or close a Buy/Sell Stop Pending Order during the Freeze Time, you will see an error message in your MetaTrader.
On the average, the Freeze Time period begins several tens of seconds before a news announcement, but its exact duration may vary depending on the nature and importance of the economic event.
According to the Definitions for Market Maker accounts:
Freeze Time – defined by Company the period of time before the event announcement. The Company has the right, at its sole discretion, to define the value of the Freeze Time depending on the situation on the currencies market and on the character of the event.
For more information, please, see section 3.5 of the Terms of Business for Market Maker types of accounts: The Company can refuse opening, modification and deletion of all Pending Orders including Corresponding Pending Orders during the Freeze Time.
Available to clients of FXOpen Markets only. - Stop Loss orders - execution rules
- A critical loss level – Stop Out – is fixed to prevent trader losses in excess of the Margin and available funds on the trading account. Upon reaching this level, broker automatically closes all loss-making positions at the current market price when Margin Level is lower than Stop Out level. Thus positive account balance is kept.
Market Watch 1 point value
for LotMARGIN for
Leverage 1 *Symbol Bid Ask 0.1 500 USD/CAD 1.0306 1.034 0.97 20.00 20.00 USD/CHF 0.9883 0.9886 1.01 20.00 20.00 USD/JPY 81.72 81.74 1.22 20.00 20.00 AUD/USD 1.0075 1.0078 1.00 20.15 20.16 EUR/USD 1.3843 1.3845 1.00 27.69 27.69 GBP/USD 1.5275 1.5244 1.00 30.55 30.49 NZD/USD 0.7502 0.7505 1.00 15.00 15.01 GOLD 1,384.2 1,385.2 0.10 138.42 138.52 SILVER 28.44 28.48 5.00 142.20 142.40 Equity 30 Stop Out (Short) Stop Out (Long) Equity after StopOut Pips till StopOut Price of StopOut (Ask) Equity after StopOut Pips till StopOut Price of StopOut (Bid) 2.00 29 1.0335 2.00 29 1.0311 2.00 28 0.9911 2.00 28 0.9858 2.00 23 81.95 2.00 23 81.51 2.02 28 1.0103 2.02 28 1.0050 2.77 28 1.3870 2.77 28 1.3818 3.06 27 1.5302 3.05 27 1.5217 1.50 29 0.7530 1.50 29 0.7949 13.84 162 1,385.82 13.85 162 1,383.59 14.2200 4 28.47 14.24 4 28.45 * Only USD containing currency pairs can be used to calculate Stop Out prices for cross-rates since it is impossible to foresee exchange rates of two currency pairs at one and the same time in future.
Short Long USD base USD quote where
P&L — is Profit and Loss;
Equity — is the account balance plus unrealized gains and minus unrealized losses.
- FXOpen provides SWAP-free accounts for Muslim clients. In Islamic accounts, no SWAP fee will be charged or added when your open positions are rolled over the night or weekend. Otherwise, Islamic accounts trading conditions are exactly the same as regular Micro, ECN or STP accounts.
- See contract specifications.
- 1 pip (point) is the smallest change in currency quotations, no matter in what direction a change occurs, up or down. For example, the exchange rate for EUR/USD has changed from 1.3614 to 1.3617, i.e. by 3 points. A pip is equal to 0.0001 for the nine major currency pairs. For pairs where the Japanese yen (JPY) is the quote currency, 1 pip is equal to 0.01.
- Margin is the amount of cash or other Eligible Collateral that FXOpen requires a customer to deposit or maintain in the Customer's Account in connection with the Customer's trading activity. Margin is usually 1-2% of the transaction amount; the remaining 98-99% is given by the dealer. This is the leverage in Forex terms. For example, if you would like to buy $10,000 for JPY and your leverage is 1:10, you need to pay 1,000 JPY.
The system performs an automatic pre-deal check for Margin availability, and will only execute the deal if the client has sufficient Margin funds in his or her account. To calculate the Margin it is required to open a trade, you can use the following formula:
Example 1. Leverage=1:200, volume=0.1, EUR/AUD:
EUR/USD (Market price is 1.3843/45).
Long Short 
Example 2. Leverage=1:200, volume=0.1, CHF/JPY:
USD/CHF (Market price is 0.9883/0.9886).
Long Short Example 3. Leverage=1:200, volume=0.1, USD/CHF.
Long Short Example 4. Leverage=1:200, volume=0.1, NZD/USD:
NZD/USD (Market price is 0.7502/0.7507).
Long Short Use the universal calculator - You can find all the actual information on the company's website in the TRADING > Trading Accounts section.
- On the Forex market open positions rollover is done in the form of SWAP. If your position stays open for the night or over the weekend there is a daily rollover interest rate that is either added or deducted to or from your account. It depends on the currency pair you trade and the transaction type (Buy or Sell). Opening a trade means that you borrow one currency to buy another. As we don’t know how long the trade will remain open, SWAP is added or deducted when the position is rolled over the night. We add/deduct SWAP to/from the account according to the difference between the interest rates of the currencies in the pair. If the interest rate of the currency that you buy is higher than the rate of the currency you borrow, SWAP is added to your account (positive SWAP). If the interest rate of the currency that you buy is lower than the rate of the currency you borrow, SWAP is deducted from your account (negative SWAP).
All positions (Depending on Account Type) which are remaining open at 23:59:30 Trading Platform
Time (Server Time) are subject to rollover.
The SWAP is calculated and added to or deducted from the Customer’s account during the time period
between 23:59:00 and 00:05:00. The exact time will be selected by the Company on its sole discretion.To look up swap rates in the MetaTrader:
- Right-click in the Market Watch window.
- Select Symbols.
- Choose the currency pair in the pop up window.
- Click Properties on the right. You will see swap long and swap short.