In addition to FX pairs, you can also trade the precious metals. Gold, silver and palladium.
1. Trading Hours
Metal trading is available to trade 23 hours per day. During these hours you are able set pending orders, to open and close trades and to adjust price levels. When the market is closed you will not be able to take any action on positions or pending orders.
2. Metal Pricing
It is our aspiration to provide you with very competitive transaction costs—tight bid/ask spreads on every metal product.
3. Contract Size/Trade Size
TradeFX Financial Services LLP utilizes a 'lot-based' trading system. This means that all TradeFX Financial Services LLP products are aggregated into standardized trade sizes. This simplifies trading by allowing clients to trade in lot increments, and also provides a price for each lot size rather than averaging open and close prices when multiple positions are taken in the same instrument. A tick or pip value is associated with each lot for precise calculations, and profits and losses on a position are automatically converted into the currency of the particular account.
4. Tick Value
Tick value is determined in the same manner as it is done for the various indices offered.
5. Minimum Margin Requirements(MMR)
TradeFX Financial Services LLP Margin Rates are displayed in the table above and all indices are set to a margin of 1% of the contract value. The margins detailed are TradeFX Financial Services LLP default margin requirements.
6. Overnight Rollover
All open metal positions are rolled automatically to the next trading day. Depending on whether you are long (buy) or short (sell) you could either be debited or credited rollover interest on a daily basis. You can find details of TradeFX Financial Services LLP rollover rates(rolls) on the Trading Station or on our homepage in a transparent manner. Please note that all open positions at the close of business on Wednesday incur a 3 day rollover debit/credit, and bank holidays will affect the number of days that a position is rolled forward.
7. Expiration and contract rollover fee
Copper is the only metal to have an expiration. All other metal trades will remain open until such time the client closes the position or there is insufficient margin to support the open position. For Copper, the open position will be rolled by TradeFX Financial Services LLP and the client will be debited or credited by the price difference between the old and the new contract along with a 20% contract rollover fee.