The VOLX`s underlying instrument is the Mini VIX™ Future.
Mini VIX™ is a service mark of Cboe Exchange, Inc. or its affiliates.
The CBOE Volatility Index (VIX) is an up-to-the-minute market estimate of expected volatility.
The VIX is calculated using a formula to derive expected volatility by averaging the weighted prices of out-of-the-money puts and calls (options) on the S&P 500.
To view current margin requirements, visit the below link:
Trading Hours, Expiration and Reference Month
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 here. FXCM expiration dates and current reference month for VOLX are located in the FXCM CFD Expiration PDF.
If you have an open position, the reference month you are trading will not be changed, although expiration dates may be amended. Upcoming reference months may be changed with no prior notice. Please ensure you are aware of which reference month is currently being priced, prior to opening a trade.
Clients that hold an open position on the ‘FXCM Expiration’ will be closed at our bid/offer at 17:00 New York time for VOLX, which means the client will realise any floating P/L at the time it is closed. When VOLX 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.
The VOLX has a target spread of 1.6 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for VOLX is 5,000.
Minimum Pip Cost (Value)
The VOLX has a minimum value of $0.10 per pip (Your per pip 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 in the diagram. Each 0.01 price movement on the VOLX is 1 pip/point. FXCM’s pricing displays three additional decimal places - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
10 FXCM VOLX Contracts are currently equivalent to one Mini VIX Future.
VOLX has no financing cost (Rollover).
There is no minimum stop distance