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Trade Terms and Account Types
General Trading Terms
| Market Hours: | Swap Schedule: | Trading Platform: |
| Sun 17:00 EST to Fri 16:00 EST | Positions rolled over at 17:00 EST. | MetaTrader 4 |
| Execution Policy: | Spread Policy: | Margin Call: |
| All orders will be honored under normal market conditions. | Spreads may not always be guaranteed. During the major news announcements and/or extremely volatile market conditions spreads may be expanded without any prior notification. | Margin Calls protect you from losing more money than you have in your account. Click here to read about the margin call procedures |
| No Processing Fees: | ||
| There are no payment processing fees by FXCL. | ||
| Deposit Currencies: | ||
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Your profit/loss will be calculated in the currency of deposit, and will be withdrawable it in the same currency, without conversion fees. You may only withdraw in the same currency as your account was originally set up to use. NOTE: In Micro-Cent accounts you may only deposit in USD and EUR. |
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| Positions Left Open Over the Weekend: | ||
| Upon market open after the weekend, and during major Geo Political and Economic News releases, markets may become extremely volatile. It is not uncommon to see prices gap and move in increments of 20, 30, or even more than 50 pips at a time. Because of potential price gaps FXCL cannot guarantee fills during news releases and within 1-3 hours after the weekend opening. Any orders may be filled at the next available price and will not always be filled at the requested price or stop. |
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Micro-Cents Account
What is the Micro-Cents Account? It is a special type of account where all calculations are performed in US Cents, not Dollars.| Spread: | Leverage: | Promotions: |
| 1 pip spread on EUR/USD and USD/JPY; 2 pips spread on GBP/USD and USD/CHF; For full spread list, click here. |
Equity from 0 to 5000-1:500 Equity from 5001 to 10000 - 1:200 Equity from 10001 to 15000 - 1:100 Equity from 15001 to 20000 - 1:50 Equity from 20001 to 40000 - 1:25 Equity from 40001 and above - 1:10 |
Click here for details |
| Minimum Deposit: | Swap Interest: | Scalping Policy: |
| Starting from $1.00. | Swap-free. No interest paid or earned. | Scalping is allowed under most circumstances. Other strategies, including Martingale, are also allowed under most circumstances. |
| Maximum Deposit: | Contract Sizes: | Expert Advisor Policy: |
| $5,000 - but you can continue to grow your account beyond the limit through profitable trades. | 0.01 (micro), 0.1 (mini) | ALL EAs are allowed*. |
| Maximum Position Size: | ||
| 1 standard (100 micro) lot | ||
| APPLY ONLINE |
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Mini Account
| Spread: | Leverage: | Promotions: |
| 1 pip spread on EUR/USD and USD/JPY, 2 pips spread on GBP/USD and USD/CHF; For full spread list,click here. |
Equity from 0 to 5000-1:500 Equity from 5001 to 10000 - 1:200 Equity from 10001 to 15000 - 1:100 Equity from 15001 to 20000 - 1:50 Equity from 20001 to 40000 - 1:25 Equity from 40001 and above - 1:10 |
Click here for details |
| Minimum Deposit: | Swap Interest: | Scalping Policy: |
| Starting from $1.00. | Swap-free. No interest paid or earned. | Scalping and other strategies including Martingale are not allowed under most circumstances. |
| Maximum Deposit: | Contract Sizes: | Expert Advisor Policy: |
| $5,000 - but you can continue to grow your account beyond this through profitable trades. | 0.01 (micro), 0.1 (mini), 1 standard | Grid/Martingale-type EAs are not allowed. Most other EA types are allowed*. |
| Maximum Position Size: | ||
| 2 standard lots | ||
| APPLY ONLINE |
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NANO CENTS Account
| Spread: | Leverage: | Promotions: |
| From 3 pips. Click here for full spread list. | Equity from 0 to 3000-1:1000 Equity from 3001 to 5000 - 1:500 Equity from 5001 to 10000 - 1:200 Equity from 10001 to 15000 - 1:100 Equity from 15001 to 20000 - 1:50 Equity from 20001 and above - 1:20 |
Click here for details |
| Maximum Position Size: | Swap Interest: | Scalping Policy: |
| 1 standard(1000 nano) lots | No swaps or commissions | Scalping is allowed under most circumstances. Other strategies, including Martingale, are also allowed under most circumstances. |
| Maximum number of orders | Contract Sizes: | Expert Advisor Policy: |
| 50 | 0.01 (micro), 0.1 (mini), 1 standard | All EAs are allowed* |
| Trading platform | Execution | Minimum deposit |
| MT4 | No Dealing Desk Automatic Market Based Execution |
1$ |
| Maximum Deposit: | ||
| $7,000 - but you can continue to grow your account beyond this through profitable trades. |
ECN PRO Account
| Spread: | Leverage: | Promotions: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dynamic, starting from 0.8 pip per lot with a 5-digit price feed |
Equity from 0 to 5000-1:500 Equity from 5001 to 10000 - 1:200 Equity from 10001 to 15000 - 1:100 Equity from 15001 to 20000 - 1:50 Equity from 20001 to 40000 - 1:25 Equity from 40001 and above - 1:10 |
Click here for details | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Position Size: | Swap Interest: | Scalping Policy: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2 standard lots | market (for the full list of swap rates, click here) | Scalping is allowed | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum number of orders | Contract Sizes: | Expert Advisor Policy: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 25 | 0.01 (micro), 0.1 (mini), 1 standard | All EAs are allowed* | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commission | Execution | Minimum deposit | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 0.4 pip per lot | No Dealing Desk Automatic Market Based Execution |
1$ | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Maximum Deposit: | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| $7,000 - but you can continue to grow your account beyond this through profitable trades. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ECN Swaps : | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Spreads
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Margin Call Rules
Margin Call Level: Warning at 30% for Mini and Micro Cent Accounts, 60% for ECN PRO Accounts and 50% for NANO CENTS Accounts
Stop Out Level: Positions closed at 10% for Mini and Micro Cent Accounts, 40% for ECN PRO Accounts and 30% for NANO CENTS Accounts
Margin call levels may be changedwith prior notificationif there would a necessity to do it.
Stop Out Level: Positions closed at 10% for Mini and Micro Cent Accounts, 40% for ECN PRO Accounts and 30% for NANO CENTS Accounts
Margin call levels may be changedwith prior notificationif there would a necessity to do it.
Margin call level is calculated in percent as follows: MC = Equity / Margin * 100%
Margin call level is equal to equity: MC = Equity
If the current level is below Margin Call level, the account will receive an alert. If the level reaches a point lower than Stop Out level, the most unprofitable position will be closed on account quoted automatically. As for those positions quoted by a dealer, a request will be sent to the latter one to close the most unprofitable position (but dealer can close any other position of the client at the dealer's discretion).
Virtual bonus can be used by traders provided they do not have enough cash resources and is indicated in the "Virtual bonus" field. If a trader wants to withdraw his/her money, this request will not apply to this bonus given to client. Margin Call levels will also be calculated on the money put on the account but not considering the bonus sum.
*FXCL may disable specific EAs considered to be violating company risk management parameters. This is done at company’s sole discretion, without any prior notice.