Forex Trading Conditions

Target Bid/Ask Spreads

The spreads applicable to your account will be displayed in your GDI Trader. Please consult GDI Markets to obtain further information about our spread range and its implications to your account.

Margin Requirements

Forex is traded on margin, enabling you to leverage a small margin deposit for a much greater market effect where:

  • First USD 25K margin rates apply to the first USD 25,000 (or equivalent) of your investment collateral
  • Normal margin rates apply to all investment collateral over USD 25,000 (or equivalent)
  • Weekend margin rates apply from 16:00 on Friday to 17:00 on Sunday GMT and on non-banking days

Note: Margin rates are higher over the weekends.

Auto-executed Trades

Major currency trades can be auto-executed for amounts below the auto-execution limit. Auto-executed trades are automatically accepted. For trade sizes over the auto-execute limit and in volatile market conditions, the trade must first be approved by a dealer. This process normally takes just a few seconds.

Note: These are typical auto-execute limits that can change over the day, depending on market conditions and available liquidity.

Ticket Fees

For Forex trades below the Ticket Fee Threshold listed, a small ticket fee of USD 10 is added to the trade to cover administration costs.

Margin Calls

You must maintain the margins listed in your account at all times. If the funds in your account fall below this margin, you will be subject to a margin call to either deposit more funds to cover your positions or close positions – normally you will be notified through our trading platform and via email. If your margin situation is not remedied, we may close positions on your behalf.

Forex Trading Hours

Your GDI Markets trading account is open for Forex trading from Monday 06:00 Sydney local time to Friday 17:00 New York local time.

Positions held until their Value Date

Spot Forex positions held at the end of the business day before their Value Date will be rolled over to a new Value Date on a Tom/Next basis. As part of the rollover, positions are subject to a swap charge or credit based on the LIBOR/LIBID interest rates of the two traded currencies with an added markup of +/- 0.25% (for retail accounts) plus an interest component of LIBOR/LIBID +/- 0.75% for any unrealized profit/loss on the position.

Δ

Please be aware Forex, CFDs and Futures are margin products that carry a high level of risk as you can lose all or more than your initial investment. These products may not be suitable for all investors and you should ensure you fully understand the risks involved, seeking independent advice if necessary.