Triple swap charges apply for positions on FX pairs, Silver and Gold that are held overnight on Wednesday. For the rest of the instruments, triple swap charges apply for positions that are held overnight on Friday. This is a standard practice in the forex industry.
These swaps cover the interest for Saturday and Sunday when the markets are closed. All swaps are calculated based on the quote currency.
If you open a long position of 1 lot on EURAUD, the overnight swap charge would be -14.11 Australian Dollars. If you had opened the same position on a Wednesday and roll over the position to the next day, the swap would be -14.11 * 3.
If the account currency is in USD, then we have to convert the amount above to USD by using AUDUSD spot rate.
We update the swaps based on the rates given to us by our Counterparties and we recommend checking the swap rates on a regular basis within the MT4 platform.
There are two types of positions: buy and sell. You must look at the Financing long for swaps for buy positions and at the Financing short for swaps for sell positions. Swaps are charged at 00:00 platform time.
We offer floating spreads for all account types – Standard, ECN and VIP. The Standard account offers variable spreads, starting from 1.6 pips with no commissions. Both ECN and VIP accounts offer variable spreads, starting from 0.0 pips with low commissions.
At market opening and closing times and prior to announcements, the market spreads may widen substantially. Consequently, you must ensure that you have sufficient funds on your account to cover this eventuality.
You can simply download historical data from the MT4 trading platform, by clicking on Tools > History Centre – then choose a trading instrument and finally press the ‘Download’ button.
You can set Stop Loss and Take Profit orders with no limits on all account types. Take Profit (TP) and Stop Loss (SL) orders will still be active, even if your computer is switched off. The minimum Trailing Stop (TS) level is 1.5 pips or 15 points. It is possible to set only 1 trailing stop per order. You need to have the MT4 platform open to keep the trailing stop active.
Traders who use the maximum leverage available face the risk of a negative balance.
For example: Let’s assume that you have 200 USD on your account and you open 1 lot on USDJPY on Friday evening, with 1:500 leverage and 200 USD margin.
*This is an illustrative example.
On Sunday night, the market opens 30 pips away from Friday’s closing price in a direction against you, so your position will immediately have a loss of 30 pips x 10 USD = 300 USD loss, while you have only 200 USD on your account.
The position will be automatically closed and your account would have a negative balance of -100 USD. This situation is 100% impossible when a trader uses 1:1 leverage. The higher leverage a trader uses, the more risks they take. Please also note that a negative balance may occur due to a slippage during high volatility.
Tickcopy covers the negative balance, ensuring that clients cannot lose more money than they put it. Moreover, our Risk department is constantly monitoring our clients’ risk-taking and if we see that a client trades irresponsibly, then we will notify the client via e-mail and ask them to reduce risk exposure. Also, we might reduce the leverage on the client’s account.
Tickcopy is a fully automated No Dealing Desk(NDD) execution model, providing liquidity from global, top-tier banks and hedge funds.
Tickcopy is an NDD broker, which means that we only clear our clients’ trades from our liquidity providers. Orders in the real market are always executed at current market prices. During market-moving news or high volatility, the risk of slippage is higher during normal conditions. You will get both positive and negative slippages with us.
The minimum leverage is 1:1. The maximum leverage is 1:500.
Our margin call / stop out levels are 90% / 70%.
Your account may be subject to a margin call if your account equity falls to a level that is equal to the margin of your existing positions. For example, you have an open position of 1 lot on EURUSD. The margin to hold that position is 200.
If your account leverage 1:500. Your account balance is EUR400, your free margin is EUR400x500= EUR200,000. When you opened the position, you had a 400 EUR equity on your account. When the position starts to move against you and your account equity falls to 360 EUR, you will have a margin call. But your position will not be closed yet. When your account equity falls to 70% of the required margin, then the system starts to close your positions immediately. If you have several positions opened, then the system closes them starting from the one with the biggest loss.
If, while closing the positions, your account equity reaches a level of more than 70% of the required margin, all other positions will remain open.
Our average execution speed is around 0.12-0.15 seconds.
The minimum trade size is 0.01 lot and the maximum trade size is 100 lots. HKDHSI minimum trade size is 0.1lot. The maximum number of orders you can open on an MT4 account is 200.
Tickcopy provides you with
– low spreads starting from 0.0 pips and
– ultra-fast execution speed of 0.12-0.15 second on average.
– Credit card deposits are processed instantly while withdrawals are processed within 3 business day.
We are proud that we have no restrictions on trading and no requotes.
We also allow scalping, hedging, EAs and algorithms
FX trading is available 24 hours a day, 5 days a week. You can trade from Monday to Friday 00:00 to 24:00. The server time is set to GMT+0.
We do not have a dealing desk because we are a NDD broker and all our procedures are automated. We have no conflict of interest with our clients as 100% of the orders are cleared with liquidity providers.
Tickcopy is one of the NDD brokers that do not have any requotes.
No, we do not accept Muslim traders so that all our accounts include with a swap fee.