Forex (FX) CFD

1. Contract Settlement
There will be NO auto-conversion should there be margin deficit in any of the currency ledgers. If there is margin deficit in the respective ledger, you should submit conversion request to avoid incurring margin debit interest. Only for MYR Ledger, we will force convert to offset any deficit.

2. Swap Points Adjustments
When a FX CFD position is held overnight [past 05:00 (DS) or 06:00 (Non-DS)], rollover for the corresponding underlying spot FX contract has to be conducted. During the rollover, swap points will be gained or lost. This gain or loss is a result of the interest rate differential between the currencies bought and sold; interest is earned on the currency bought and paid on the currency sold. The net interest return from the underlying spot FX position will be credited into or debited from the customer’s account in the form of swap point adjustments.

3. Minimum Contract Size
Minimum trade size of 10K (in base currency) for all FX CFDs.

4. Maintenance Margin
The marked-to-market closing price will be used to calculate the maintenance margin. Phillip CFD reserves the right to amend margin requirements from time to time.

5. Spreads
Spreads are subject to variation, especially during in low liquidity timings and volatile market conditions.

6. Currency Quotation
A base currency is the first currency that appears in a forex pair quotation, and will be followed by the second currency known as the quote currency.

Example of Currency Trading FX CFD