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Floating SpreadFloating Spread: the difference between the ask price and the bid price
NaNMaximum LeverageLeverage: a way of trading that multiplies a trader's trading volume for a financial instrument with only a relatively small amount of your deposit. Example: a $1,000 balance with a 1:50 leverage ratio has a trading ability of $50,000, allowing traders to purchase financial products worth up to $50,000.
--Contract SizeContract size: the number of units traded per lot when you open a trading position
undefinedMinimum Volume per TradeMinimum volume per trade: the minimum trading unit allowed for each trade
undefined LotOvernight Funding - BuyOvernight funding (Buy): When you hold the position of a product overnight, your A/C may be charged / deposited into the product's corresponding overnight interest. Calculation (Daily): trading lot * contract size * closing price * daily overnight funding rate (%)
NaN%Overnight Funding - SellOvernight funding (Sell): When you hold the position of a product overnight, your A/C may be charged / deposited into the product's corresponding overnight interest. Calculation Formula (Daily) trading lot * contract size * opening price * daily overnight funding rate (%)
NaN%Initial MarginInitial Margin: The amount Mitrade debits from your account as soon as you open a new position.Initial Margin = Contract Value of open position * Initial Margin Ratio (%)
--Maintenance MarginMaintenance margin: the minimum margin amount required to maintain the account when you hold the position. Maintenance margin = contract value of open position at opening price * maintenance margin ratio (%)
--Contract Expiry DateContract Expiry Date: If the product contract you are trading has an expiration date, the product will expire on this date, and the trading position of the product you hold will be automatically closed at that time.
--Current Trading SessionCurrent trading session: the current trading period of the product. The time is shown in your local time zone.
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FAQ
In addition to the EURUSD, the forex market also has 6 major currency pairs, all of which have the US dollar.
The major currency pairs with the US dollar as the base currency include:
• US Dollar/Japanese Yen (USD/JPY)
• US Dollar/Swiss Franc (USD/CHF)
• US Dollar/Canadian Dollar (USD/CAD)
The main currency pairs with the U.S. dollar as the quote currency include:
• British Pound/U.S. Dollar (GBP/USD)
• New Zealand Dollar/U.S. Dollar (NZD/USD)
• Australian Dollar/U.S. Dollar (AUD/USD)
These currency pairs are closely related to the EUR/USD. You need to pay attention to this correlation in order to gain profits or reduce risks when trading.
MiTrade’s platform offers easy to use risk management tools and no commission, so that you can trade currency pairs with ease. Choose leverage that suits your goals and earn high rewards.
Enter a trusted broker to earn exponentially higher rewards, but be aware of the risks that come with this type of leveraged trade.
Forex leverage is the amount of trading funds your broker is willing to credit your investment based on a ratio of your capital to the size of the credit. Your invested capital is usually only a fraction of the forex leverage credit size. In essence, leverage is borrowed capital you obtain from your broker to increase your potential returns.
The amount of leverage you can access differs from broker to broker. It also depends on the conditions for trading provided by your broker. You will be required to maintain a minimum balance in your account (usually a fraction of the leverage you will obtain) from which your leverage will be calculated based on the agreed-upon ratio. You use margin to create leverage. FX brokers call this trading on margin.
When trading with margin, the broker will set aside only a fraction of your position’s value, and they will fund the rest. Hence, you are said to be leveraged. The fraction of the position’s cost that was set aside is the margin requirement. It is expressed in percentage; say you are required to put up 2% of a $10,000 trading position you open. This means that you are trading at $10,000, but you only need to provide $200.