STOCKS LIST

Currency Conversion: when instruments are quoted in non-us dollars, their profit or loss and pip value will be converted to US dollars instantaneously.

Interest Rate Differential: The difference in the interest rate between the product being traded and the currency in which the product is being traded

Market Hours: Trading of all CFD’s is according to the underlying instruments exchange hours. For a full list of exchange opening hours, click here.

Order Types: It is possible to trade CFD’s in all order types – Market Orders (MKT), Limit Orders (LMT) and Stop Orders (STP). Click here to go to the ECMarkets Glossary for a full list of order type definitions.

Overnight Rollover: All CFD positions remaining open overnight will incur a charge or receive a credit against the size of the position based on the ECMarkets financing charge and the interest rate differential between the underlying product and the currency in which it is traded.

Formula: (Interest Rate Differential – Financing Charge)/36000 x Base Value x Units per Lot x Relevant Exchange Rate.

ECMarkets’s Financing Charge is 1.5%. As commodities and stocks bear no interest, rates are derived from the denomination of the CFD’s currency. For example, NASDAQ is denominated in dollars, so the interest rate is set by the US Federal Reserve. The interest rate of a particular currency is set by that country’s central bank. Presently, the European Central Bank has set the interest rate for the euro at 1.0%. Interest Rate Differential represents the gap between the interest rate of the currency and of the underlying product. A greater difference between the two interest rates results in a greater difference between the overnight rollover for long and short positions.

The size of the position is measured in units per 1 lot, e.g. 10 barrels = 1 lot of Crude Oil. Each CFD also has a base value determined by ECMarkets. In the case that a CFD is priced in a currency other than USD, an exchange rate determined by ECMarkets is used to calculate the rollover in USD.

Overnight rollover values for a particular CFD can be found in the instruments window on the trading platform.

Rollover values vary depending on whether the position held is short or long. Rollover values are calculated based on individual lots and the final rollover charge or credit will be for the total amount of lots held in a position.

Example of the Crude Oil CFD Overnight Rollover Calculation:

Example of the FTSE 100 CFD Overnight Rollover Calculation:

The future contract on which a CFD is based has an expiration date, and clients will be able to close their CFD positions until this date. Positions not closed by clients by this date will be closed by ECMarkets at the last available price. Approximately 3-5 days before expiring, a new CFD based on the next future contract will begin trading. During this period, no new positions can be opened in the old CFD contracts.

Margin Requirement:

 All CFD positions carry margin requirements between 2% and 5% (depending on the individual CFD). The transaction amount of each CFD must be guaranteed by funds in your account. In order to keep your position open it is necessary to maintain the required margin. If the equity value of your account drops below the minimum margin requirement, additional funds will be requested and must be added.

Margin Calls:

• If the Equity should, at any time, equal or fall below 100% of the Used Margin, customers will get an automatic margin call notification when logged into the trading platform. ECMarkets will notify the customer about the breach of Equity below minimum margin requirements by phone call, email, SMS or via popup in the ECMarkets trading platform.
• Should the equity at any time, equal or fall below 20% of the Used Margin for a customer’s account in the aggregate, ECMarkets will liquidate any part of, or all of the Open Positions in a customer’s account. Closure of positions will be done on the basis of best execution prices available to ECMarkets at that time.
• Customers are responsible for placing their own Stop Loss Orders to minimize losses.
• In addition, ECMarkets may, from time to time and at our best effort, contact a customer and request that said customer will deposit additional Collateral to secure his or her obligations. Any call for additional margin shall not be deemed precedent for future call nor future waiver of liquidation rights by ECMarkets.