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FXLITE's hours of operation are from 5:00 PM EST Sunday to 4:00 PM EST Friday.
FXLITE offers two-way prices in the following 20 currency pairs:
As with all market makers, the spreads quoted by FXLITE are dictated by market conditions. Standard spreads during normal markets are typically two or three pips wide on the major currency pairs. Deal increments are for notional lots of 100,000 of the base currency. For example, a purchase of one lot of EUR/USD at a price of 1.300 would be equivalent to a $130,000 USD notional position. The prices shown live are for amounts up to $3 million. The minimum deal size is one lot or 100,000 of the base currency for a standard account. For mini accounts the minimum deal size is 1/10th lot, or 10,000 units of the base currency.
FXLITE allows maximum leverage of 100:1 for a regular account and 200:1 for a mini account. For example: - if you had a $10,000 account value, you could control a maximum position equal to 100 times $10,000 (or $1,000,000). 10 000 USD * Leverage 100 :1 = 1 000 000 USD - Trading in a currency where the base currency is USD, you could take a position equal to ten, 100,000 lots. 10 Lots * 100 000 units = 1 000 000 units in a currency where the base currency is USD. - Working the numbers another way, if you purchase 1 lot of EUR/USD at 1.3000, you would control a position equal to $130,000 (100,000 euros x 1.300, the exchange rate = 130,000). The cash margin required to hold that position would be equivalent to $130,000/100 or $1,300.
For each lot of 100,000 purchased, a 1% margin must be pledged against the position. The 1% is another way of representing the 100:1 leverage (1% is 1/100th of 100%). FXLITE has three additional margin levels: maintenance, margin call and liquidation margin levels. Maintenance Level: The first level is the maintenance level and represents the account level you will need to have deposited with FXLITE in order to continue to maintain the current position. Clients who have account values that are above the maintenance level are liquid and have ample leverage available for trading. Margin Call Level: The second level is the margin call level. You would need to deposit additional funds up to the maintenance level if an existing position results in an unrealized loss that brings the account value below the margin call level. Liquidation Margin Level: The final margin level is the liquidation margin level. If during a trading day the account value goes below the margin call level and the liquidation margin level, FXLITE will automatically liquidate the position at the best available price.
Transacting a Deal with FXLITE With FXLITE you are using the most powerful Trading platform proposed on the Forex Market. You can choose transacting a deal manually, or automatically: You can ask the platform to show you only buying / selling signals, and you keep the liberty to pass your orders manually.
There are several types of orders:
When a position is held past the close of business, the position is automatically rolled-over to the next available spot date by FXLITE. The rollover needs to occur because all deals done with FXLITE are for foreign exchange. Therefore, the old position must be closed and a new spot position established. |
