The clients of XLNTrade can access the global forex markets during their official and globally established working time. From 22:00 GMT on Sunday night until 22:00 GMT on Friday night. The same applies to online FX and commodities. On the other hand the operating hours for CFDs depend on the location of the market:
• The US Market CFDs are traded from 14:30 – 21:00 GMT, Monday to Friday.
• The European & British Market CFDs are traded from 8:00 – 16:30 pm GMT, Monday to Friday.
• The Asian Market CFDs are traded from 00:00 am – 2:00 am GMT and 15:30– 18:00 GMT, Monday to Friday.
Due to high volatility, there is a rollover fee at 0.02% of the overnight exposure of indices, currencies, stocks, and commodities and 0.50% on CFD on Cryptocurrencies. XLNTrade has a policy of no slippage. This means that during normal forex market conditions, there is no extra charge on the spot orders. No matter the forex market volatility XLNTrade provides clients with fixed spreads for the ask (buy) and bid (sell) prices. In terms of spot orders, they are executed at the quoted price from the trader.
XLNTrade’s leverage conditions:
• Forex, Gold, Silver,CL and Brent: 1:200
• Commodities: 1:100
• CFD on Indices: 1:100
• CFD on Shares: 1:10
• 5 Protected Positions: 1:20
• CFD on Cryptocurrencies: 1:2
In case of absence of any activity for a period of at least three (3) months, the Company reserves the right to apply a fee of US$ 500 thereafter, charged on a quarterly basis. If the Client account is funded by less than US$ 500 and has been inactive for a period of three (3) months, the Company reserves the right to charge a lower amount to cover administrative expenses and close down the account.”
If a particular account is inactive for at least forty-five (45) days, a credit-put rule is applied by the Company, and any trading credit existing in the Account is removed. This is in case that (i) there aren’t any positions opened and or entry orders in the Account; (b) in the last 45 days there were no positions opened and/or closed; and/or (c) within the previous 45 days there is no deposit transaction made. Please have in mind that the inactivity and/or withdrawal commission is not an act of an active account.
200 USD is the minimal initial deposit amount of the clients of XLNTrade. They can start trading right away. The base currency of all accounts in XLNTrade is US Dollars, so all trading deposits are converted into it, and all accounts are denominated in it.
If the equity of a trader’s account reaches zero, and all positions are automatically closed, margin liquidation happens. Doing this XLNTrade protects the account from going into a negative balance and being liable for an amount that’s bigger than the client’s money deposited.
Hedge Newest Position
- The Hedge Newest Position (“HNP”) is an exposure protection feature that is provided by the Platform. HNP may be activated and/or deactivated at any time by contacting the Company here.
- HNP applies only after all First Protected Positions are used.
- HNP opens a fully hedged position in the opposite direction in an equal amount to the last opened position when the account equity falls below the used margin required for each open position and will continue to apply until all open positions are hedged.
- HNP will be triggered as close to the used margin, except in circumstances where the market moves too fast.
- HNP will function within market hours and will not be triggered if:
- deactivated by a client;
- hedging the newest position will increase the exposure; and/or
- there is insufficient equity to cover the spread of the newly hedged position.
- Trading accounts can be used in parallel with HNP and margin can be topped up.
- Hedged positions may be transferred to the next trading date and are subject to the applicable rollover and/or any other fees.
- HNP is compatible with any other trading benefits and offers available from time to time by the Company.