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Home » Currency Trading

Currency Trading

Forex specifications incorporate the individual contract details and the conditions under which they can be traded.

Margins – the amount of your equity required to open a trading position.
Spreads – the difference between the bid and ask price for a currency pair.
Swaps – the interest rate calculation representing the cost or reward of holding open positions overnight.

Pip Values

A pip is the value of the fourth decimal in the exchange rate of a currency pair; this does not apply to JPY and HUF currency pairs (for these pairs a pip is the value of the second decimal). At Intercore Financial, the smallest incremental movement equals to 0.1 pip.

Majors, Minors und Exotics

Majors are currency pairs that are primarily traded in the Forex market. Often they are quoted against the USD as is market convention; in these terms, the USD is the base currency. Liquidity is deep and spreads are tight, giving excellent short-, medium- and long-term trading opportunities. The trading volume of majors exceeds two thirds of the total estimated volume in Forex.

Minors are less frequently traded or secondary currency pairs. Generally these instruments have less liquidity but are still traded heavily in the financial markets. They will also include crosses, a term for currency pairs that include major traded currencies against each other but without the USD as the base.

Exotics are currency pairs that are not widely traded or are derived from emerging markets. Exotics still provide trading opportunity, but spreads are often wider and therefore less attractive to high-frequency intraday traders. Interest rate differentials can be greater and will often attract trading based around favourable swaps.

Important notes

  • - All our transactions are structured like a CFD; therefore they are cash settled and do not result in the delivery of the underlying currencies or>
  • - Gold, Silver, Platinum and Palladium sessions start at 00:00 CET until 23:00 CET from Monday to Friday.
  • - To utilise trailing stops you must be logged in to your MT4 platform.
  • - The pair USD/CNH is not traded 24 hours. Trading hours are from 02:30 till 23:00 (Server Time).
  • - The pair USD/RUB is not traded 24 hours. Trading hours are from 08:00 till 17:00 (Server Time)

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High Risk Investment Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as
well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.