Conditions of Trading in Mini Forex Account contracts

• 24-HOUR trading on the Forex market from Sunday 23:00 GMT to Friday 21:00 GMT;
• Trading through the Internet Trading Platform or telephone desk;
• 29 CURRENCY PAIRS Trading;
• NO RFQ (Request For Quote), even in fast markets;
• Instantaneous execution;
• Minimum trading lot is 10 000 basic currency units;
• Minimum step is 10 000 basic currency units;
• Minimum deposit is $200;
• Maximum balance size is $10 000;
• Leverage from 1:1 to 1:500 (default leverage 1:200);
• Minimum margin is 0.2% of the contractual value;
• Daily accrual of swaps on open positions at LIBOR when a position is transferred to the following day;
• No service charge;
• Free forex news;
• Daily mailing of statements by e-mail;
• Free access to the account through the company’s website.

Rollovers

In the spot Forex market, trades must be settled in two business days. It means that counter transactions encompassing the same currency pair, for the same amounts, settled on a spot basis, are needed where one transaction closes the position for the "old" value date, and simultaneously opens the position for the new value date. In this case the dealer may charge or pay interest to the client for these position rollovers. As a result funds are subtracted or added to the client's account with open positions. Whether a fee will be charged or a payment made depends upon the short-term interest rates in the countries of the currencies in the pair.

For example, you sold 100,000 EUR/USD. It means that you effectively borrowed 100,000 Euro from the dealer against the current interest rate on Euro. You sold Euros and earned a corresponding amount in US dollars, which the dealer is now "holding" for you. The dealer pays you for the US dollars you placed with him at the current interest rate on US dollars. You pay the interest rate that currently can be earned on EUR investments. The difference between these payments is recorded in points on your account.

The figures indicated in the table stand for the difference between the short-term interest rates of the countries of the two currencies. The amount of the difference varies greatly based on the currency pair and the interest rate differential between the two countries.

The value date of transactions entered into on Wednesday will be the Friday; therefore rollover pips will be multiplied by 3, as the weekend will be considered in the computation. That means that funds will be added to or deducted from the client's account in a lump sum on Thursday.

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