Forex
Forex Hotline:(852) 3890 0668
Forex
Our company offers trading of currencies of G7 economies, allowing clients to trade different currencies 24 hours a day and grasp every opportunity in the forex market. Clients can trade leveraged forex contracts of which the prices are quoted for both sides. Investors can buy or sell contracts according the the trends of different currencies to earn profit.
To lower the trading cost and allow clients to have a bigger profit, we are charging zero handling fee and commission for forex contract trading at present. We also hope our clients can experience the emerging forex market through the quality service provided by our company.
Winter and Summer Time
Summer time starts on the second Sunday of March every year.
Winter time starts on the first Sunday of November every year.
Trading Period
Summer Time: [Hong Kong Time] 7am on Monday to 5am on Saturday
Winter Time: [Hong Kong Time] 7am on Monday to 6am on Saturday
Non-Trading Period after Market Close (MT4 Login and Order Disabled)
Summer Time: [Hong Kong Time] 5:01am to 5:59am on Tuesday to Saturday
Winter Time: [Hong Kong Time] 6:01am to 6:59am on Tuesday to Saturday
Products Overview:
|
Product name |
Contract amount |
Commission/ |
Number of contracts per trade |
Initial Margin |
Maintenance Margin |
Forced Closing-out Margin Level |
Expect rise (↑) |
|
|
EUR to USD |
62,500 |
Free |
Min. 0.1 contract |
Initial margin(HKD account)：contract amount x no. of contracts x opening price x 5% x 7.777 (*Reference rate of USD/HKD) Initial margin(USD account)：contract amount x no. of contracts x opening price x 5% |
Clients are required to make additional margin deposit when the margin falls to 60% of the initial margin or below |
System will perform automatic closing-out of positions when the margin falls to 40% of the initial margin or below |
Buy： |
Sell： |
|
GBP to USD |
62,500 |
Buy： |
Sell： |
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|
AUD to USD |
100,000 AUD |
Buy： |
Sell： |
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|
NZD to USD |
100,000 NZD |
Buy： |
Sell： |
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|
USD to JPY |
100,000 USD |
Initial margin(HKD account)：contract amount x no. of contracts x 5% x 7.777(*Reference rate of USD/HKD) Initial margin(USD account)： contract amount x no. of contracts x 5% |
Buy： |
Sell： |
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|
USD to CHF |
100,000 USD |
Buy： |
Sell： |
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|
USD to CAD |
100,000 USD |
Buy： |
Sell： |
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* 7.777 is the reference rate of USD/HKD. The actual exchange rate varies from time to time, and is subject to the exchange rate on MT4.
Calculation of Profit/Loss
Example 1:
The customer bought 2 USDJPY contracts with HKD account at 106.62 and closed the position at 106.42.
| Product | USDJPY |
|
Contract amount |
100,000USD |
|
Buying price |
1USD to 106.62JPY |
|
Selling price |
1USD to 106.42JPY |
|
*Reference rate of USD/HKD |
7.777 |
|
Initial margin |
[ (100,000 x 7.777 ) x 5% ] x 2 |
|
Profit/Loss |
[(106.42 – 106.62) x 100,000 x 2 x 7.777 ]/106.42 |
Example 2:
The customer bought 2 GBPUSD contracts with HKD account at 1.41605 and closed the position at 1.41627.
| Product | GBPUSD |
|
Contract amount |
62,500 GBP |
|
Buying price |
1GBP to 1.41605USD |
|
Selling price |
1GBP to 1.41627USD |
|
*Reference rate of USD/HKD |
7.777 |
|
Initial margin |
[ ( 62,500 x 1.41605 x 7.777 ) x 5% ] x 2 |
|
Profit/Loss |
[ (1.41627 - 1.41605) x 62,500 x 7.777 ] x 2 |
* 7.777 is the reference rate of USD/HKD. The actual exchange rate varies from time to time, and is subject to the exchange rate on MT4.
Important Notes
- The trading platform for this trading account includes “Buy”, “Sell” and “Close Out” functions. If Client wishes to close out the positions, the “Close Out” function must be selected. “Lock Position” is not available on the system. If clients require “Lock Position” function in the system, please submit application to our Company.
- System will cancel all unexecuted order automatically after market close.
- The rate of USD/HKD used in the system will be updated regularly. We offer the best rate among the major banks in Hong Kong to our clients.
- Margin Requirement:
Clients should make an initial margin deposit identical to 5% of the contract amount for opening a position. When the margin level falls below 3% of the contract amount (i.e. below 60% in MT4 system), the system will send out margin call message by email. Clients must make additional margin deposit immediately. When the margin level falls below 2% of the contract amount (i.e. below 40% in MT4 system), the system will perform forced closing-out of positions at the current price without prior notice. - If forced closing-out of positions occurs, system will first close the position of the contract with the highest loss until the margin level of the account returns to 40% or above.
- Forced closing-out of positions occurs even if the client has excess deposit in other accounts as our company only considers the balance in the forex account. Therefore, clients should transfer fund from other accounts to their forex account beforehand.
- The minimum number of contract in each trade order is 0.1.
- All overnight position is subject to overnight interest. Please click here for details.
- Deposit is effective only when it is confirmed by our Company. If the deposit cannot be confirmed in time due to time difference and forced closing-out of positions is triggered in the system, the client shall bear responsibility.
For enquiry, please call Bright Smart Forex Hotline: (852) 3890 0668
