Foreign Exchange
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Why Trade In The FX Market
How does FX Trading work?
FX Trading has traditionally been Over-the-Counter (OTC). Clients typically trade with a market maker as opposed to trading with other participants.
- Always involve the trade of two currencies, known as Currency Pairs, such as AUD/USD.
- When an investor buys one currency in the pair, they are effectively selling the other.
- When reading a Currency Pair, the currency to the left of the slash (/) is the base currency, while the currency to the right is the quote currency. If AUD/USD = 0.7679, this means that 0.7679 USD buys 1.0000 AUD.
- Currencies are priced to four decimal places. A single unit of the fourth decimal place is referred to as a pip (percentage in point). For example, AUD/USD moves from 0.7679 by 6 pips to 0.7685.
- Leverage can be utilised to benefit from the small pip movements that characterise FX Trading.
Benefits of Foreign Exchange Trading
Risks of Foreign Exchange Trading
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Frequently Asked Questions
FX trades can be placed via our MT4 trading platform.
The minimum trading size for FX is 1 micro lot or 1,000 units (0.01 x 1 lot) of base currency.
US$500 deposit is required to open an account with Gleneagle Securities. There is no minimum requirement to maintain an account.
Please contact Gleneagle Securities to modify your account’s leverage.
From the time you receive a margin call notification, you have 24 – 48 hours to deposit additional collateral. During times of rapid market movements, you may be required to provide additional collateral earlier. Should this be the case, Gleneagle Securities will notify you.