ETH/USD - FXCM Support

ETH/USD

Ether is the digital currency used by Ethereum, a decentralised platform that runs smart contracts.

Ether is the fuel or “gas” used to pay for transactions made on the Ethereum platform. Ether gives participants a reason to contribute resources used by the platform, thereby ensuring a robust network. Further, it provides developers with incentive to write efficient code, as inefficient software programs are more expensive.

Trading Hours

Please click here for trading hours.

Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted on here.

Expiration

ETH/USD has a periodic expiration.

FXCM expiration dates for ETH/USD  are located in the FXCM CFD Expiration PDF.

Open positions held on the ‘FXCM Expiration’ will be closed at our bid/offer during the market break for ETH/USD  which means the client will realise any floating P/L at the time it is closed. When ETH/USD  expires, all pending Entry orders and Stop/Limit orders that are associated with the expiring contract will be cancelled. Clients will need to re-establish another position if desired after the expiration and reinsert Stop and Limit orders to the new open position.

Spread

The ETH/USD has variable spreads that will widen and narrow subject to market conditions.

Max Contract Size

The maximum number of contracts per click (trade) for ETH/USD  is 1000.

Minimum Pip Cost (Value)

ETH/USD has a minimum value of 0.10 USD per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).

The pip/point location is shown below. Each 1.00 price movement on ETH/USD  is 1 pip/point.

Number of FXCM Contracts equal to one Ether

10 FXCM ETH/USD contracts are currently equivalent to one Ether.

Margin Requirements

ETH/USD  Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated daily during the market break (Between 16:45 ET to 18:00 ET Daily).

ETH/USD  is leveraged at 2:1 and the new margin requirement will be the equivalent of half the notional value of 1 contract at 5pm EST.

For E.G if the ETH/USD rate is 220.00 during the market break, the Margin Requirement for one contract will be updated to $11.00 USD

ETH/USD is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday

Overnight Funding

ETH/USD  does have an overnight funding charge (Displayed as Rollover in the Trading Station Platform).

The current daily overnight funding rate is displayed within the Trading Station and is 3x on Fridays.

Trade Restrictions

FXCM allows long and short trading on all our trading catalog. However due to the high volatility and low liquidity when trading crypto currencies, there may be instances where new positions are unable to be opened on Ether (ETH/USD). During any period in which Ether (ETH/USD) has a trading restriction applied, any market orders or triggered pending entry orders will be rejected and deleted. Pop ups will appear on your screen informing of the reason for the rejection.

Any restrictions are temporary and will only impact your ability to enter trades.

You will still be able to close open positions.

Other Information

Ether (ETH/USD) does not have a minimum stop distance