The SPX500’s underlying instrument is the S&P 500 stock market index, maintained by S&P Dow Jones Indices, which comprises 500 large-cap American companies covering about 75 percent of the American equity market by capitalization. Examples: Delta, eBay, Halliburton, Yum! Brands etc. The S&P 500 was developed and continues to be maintained by S&P Dow Jones Indices, a joint venture majority-owned by McGraw Hill Financial that publishes many stock market indices such as the S&P Midcap 400, the S&P Small Cap 600 and the S&P Composite 1500.
Margin Requirement's may differ depending on trader experience and account equity and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Also, FXCM’s Index Products do not expire, but FXCM indices will not be open for trading during holidays in which the reference markets are closed.
The SPX500 has a target spread of 6 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for the SPX500 is 5,000.
Minimum Pip Cost (Value)
The SPX500 has a minimum value of $0.10 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 0.1 price movement on the SPX500 is 1 pip/point. FXCM’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
50 FXCM SPX500 Contracts are currently equivalent to one E-mini S&P Future.
The SPX500 does have financing cost (Rollover). For further information regarding financing costs, click here. Applicable to most cash indices, dividend payments will be applied as debit/credit within the rollover amount for your open positions. Adjustments will apply on the eve of the ex-dividend date of the constituent members of the relevant Index. The adjustment will appear as part of the rollover debit/credit on your statement. For further information regarding dividends click here.
With FXCM’s new Enhanced Execution, there is no minimum stop distance.