Forex Trading Product Schedule
GoDo trading hours vary by product. For forex, trading opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays around 4:55 PM ET.
Margin is the amount of money needed as a “good faith deposit” to open a position with your broker.
Margin is the amount of money that a trader needs to put forward to open a trade. When trading forex on margin, you only need to pay a percentage of the full value of the position to open a trade.
Margin is one of the most important concepts to understand when it comes to leveraged forex trading. Margin is not a transaction cost.
For example, In forex to control a $100,000 position, your broker will set aside $1,000 from your account. Your leverage, which is expressed in ratios, is now 100:1. You’re now controlling $100,000 with $1,000.
The $1,000 deposit is “margin” you had to give to use leverage.
Margin is used by your broker to maintain your position. Your broker basically takes your margin deposit and pools them with everyone else’s margin deposits and uses this one “super margin deposit” to be able to place trades within the interbank network.
Margin is usually expressed as a percentage of the full amount of the position. For example, most forex brokers say they require 2%, 1%, 0.5% or 0.25% margin.
Based on the margin required by your broker, you can calculate the maximum leverage you can wield with your trading account. If your broker requires 2% margin, you have a leverage of 50:1.
|Margin Requirement||Maximum Leverage|
Aside from “margin requirement”, you will probably see other “margin” terms in your MT4 trading platform
Forex, also known as foreign exchange, FX or currency trading, is a decentralized global market where all the world’s currencies trade. The forex market is the largest, most liquid market in the world with an average daily trading volume exceeding $5 trillion.
We pride ourselves in offering excellent forex trading experience in the market. With GoDO, you not only gain access to the top currency pairs, but also the tools and support you need to navigate the world’s largest market.
GoDo’s trading hours vary by product. For forex, trading opens on Sundays between 5:00 PM ET and 5:15 PM ET and closes on Fridays around 4:55 PM ET.
Margin Requirements may differ depending on account type and can be viewed in the specification of each symbol in MT4 Marketwatch window.
GoDo offers competitive spreads on our currency pairs and CFD instruments. Active Traders can get deep discounts on spread costs based on the volume traded.
Spreads are variable and average spreads and available pairs can be found in contract specification in Trading Products tab.
Rollover is the interest paid or earned for holding a position overnight. Each currency has an overnight interest rate associated with it, and because forex is traded in pairs, every trade involves not only two different currencies, but their two different interest rates.
Overnight interest rates will guide whether the trader will ultimately pay to hold the position or earn interest. Typically, these interbank rates will track a central bank’s target quite closely, however sharp changes in the supply or demand for a specific currency can shift interbank borrowing rates away from the central bank rates.
Typically, if the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll).
It is possible however that both rollover for buying and selling the same pair are negative. As both Banks and GoDo charge a small spread on interest paid or earned.
Any client holding an open position at the end of the trading day (5pm EST) will be credited or debited rollover.
Rollover can add a significant extra cost or profit to your trade. Upcoming Rollover can be viewed in the MT4 terminal each symbol right click specification.
The MT4 terminal automatically calculates and reports all rollover or swap for you.
We recommend limiting total account leverage to a maximum of 20:1. For example, if you have an account balance of $10,000, you could trade a maximum position size twenty times larger than your account balance. In this example, 20 X $10,000 = 200,000 (200k total for all positions).
At 20:1 leverage, a market movement of 1% will increase or decrease your account balance by roughly 20%. You can use this simple calculation to determine your risk tolerance. For example, someone who is less risk tolerant may want to leverage their account only five times so that a 1% market movement means a 5% increase or decrease in the account balance.
While greater leverage can increase the magnitude of your gain, it can also increase the magnitude of your loss and chances of receiving a margin call.
GoDo offers several account types to meet your trading needs including mobile trading, automated trading, or Mac-compatible platforms.
The most popular platform is the award-winning Meta Trader 4 due to its intuitive feel, ease of customisation, and cutting-edge features like the ability to trade directly from the charts.
Like many financial investments, there are risks involved.
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade these products offered by GoDo you should carefully consider your objectives, financial situation, needs and level of experience. GoDo may provide general commentary without regard to your objectives, financial situation or needs. General advice given, or the content of this website are not intended to be personal advice and should not be construed as such. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin. GoDo recommends you seek advice from an independent financial advisor.
GoDo is a leading global provider of foreign exchange (currency) trading, CFD trading, and related services to retail and institutional customers. However, GoDo does not offer options or binary options.
We offer over 40 currency pairs and CFD products across many assets.