Standard Spot Forex

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PLEASE NOTE THAT EXOTIC PAIRS ARE PRONE TO WIDER SPREADS OUTSIDE OF NORMAL MARKET CONDITIONS.

† As low as pricing is based on minimum pricing data from the previous week. Spreads may fluctuate during times of market volatility.

†† Tick Factor = the price increment representing 1 whole trading unit, by which P&L and both initial and variation margin is calculated.

Margins

Margin requirements may change or additional collateral required depending on position size.

Rollover on Net-based Accounts

All positions held at 15:00 ET will be rolled to the next value date.

• If you are holding the currency pair with the higher rate of interest, you will generally receive financing as follows: your positions will be closed at the closing price and reopened at a new opening rate.
• If you are holding the foreign currency with the lower rate of interest, you will generally pay financing as follows: your positions will be closed at the closing price and reinstated at the new opening price.

Position-based Accounts

We do not close and open the positions to account for these swap rates. Instead, we simply apply the equivalent financial consideration to the position if it were rolled over.

• If the first currency has a higher interest rate, then you are generally credited for holding a long position and debited interest for holding a short position.
• If the first currency has a lower interest rate, then you are generally debited for holding a long position and credited interest for holding a short position.

The Account History report will display these amounts as financing debits/credits in the same way that they are displayed for the CFD instruments.

Below is the formula to show how the financing amounts are calculated.

For a short position:
F = S * V * P

For a long position:
F = S * V * P * -1

• F = Finance charge/credit
• S = Swap Rate
• V = Number of lots
• P = Pip value in account base currency

Based upon standard lot size of 100,000

Examples:

Retail USD based account short 150,000 EUR/USD on 14 January, 2011:
-9.45 USD = -.63 (swap rate) * 1.5 (lots) * 10 USD (pip value)

Retail GBP based account long 100,000 USD/JPY on 14 January, 2011:
0.23 GBP = -.03 (swap rate) * 1 (lots) * 7.59 GBP (pip value) * -1

***The makeup of the USD/BKT at GFT offers clients the ability to trade streaming rates against a weighted average basket of major currencies EUR (57.6%), JPY (13.6%), GBP (11.9%), CAD (9.1%), SEK (4.2%) and CHF (3.6%). Financing Charges are traded by instrument and change daily; they may not reflect a direct weighted average calculation of the underlying currencies daily Financing Charges.

Disclaimer

This information is made available to you by or for GFT Global Markets Asia Pte. Ltd. (Unique Entity Number 200717665N). The contents hereof is available or accessible for informational purposes only and is not to be regarded as an offer or a solicitation to deal in any investment product or to enter into any legal relations, nor an advice or a recommendation with respect to such investment product.

The information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions. GFT is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision based upon any information contained within. Trading of foreign exchange contracts and other investment products, which are leveraged, can carry a high level of risk, and may not be suitable for all investors. It is possible to lose more than the initial investment. © 2011 Global Futures & Forex, Ltd. All rights reserved.