Product

FX CFD

Trade FX CFD with up to 20 times Leverage

FX CFD is a form of Contracts for Difference (CFD) that allow investors to gain exposure to the underlying spot Forex market.

Advantages of Trading FX CFD

With FX CFD, investors are able to trade 24 hours a day, 5 days a week into the world’s largest and most liquid financial market. Investors who are looking for more trading opportunities will benefit from the market’s volatility and trade on global events. FX CFD provides the ability to long or short a currency pair allowing investors to trade and take advantage of both rising or falling market price movements.

Order Types & Submission

Customers are able to trade FX CFD on POEMS 2.0 and POEMS Mobile 2.0 (iOS & Android). Limit orders and Stop Limit orders are available for FX CFD trading. Please refer to the CFD Information sheet at the bottom of this page for more information.

Popular FX Pairs Available for CFD Trading

FX CFD PairsBest SpreadMargin RequirementSettlement Currency 
EUR/USD0.7 Pips5%US Dollars
USD/JPY0.7 Pips5%Japanese Yen
GBP/USD0.9 Pips5%US Dollars
USD/SGD1.5 Pips5%Singapore Dollars

List of FX CFD

Contract Specifications
Value of 1 PipUS$1
Best Spread1.0 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipUS$1
Best Spread0.7 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipUS$1
Best Spread0.9 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipUS$1
Best Spread3.0 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipC$1
Best Spread1.7 Pips
Minimum Contract Size10K
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipCHF1
Best Spread1.5 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 Pip¥100
Best Spread0.7 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)
Contract Specifications
Value of 1 PipS$1
Best Spread1.5 Pips
Contract SizeMinimum 10K in base currency
Margin Requirements5%
Market Trading Hours (24 hrs)05:00 (Monday) –05:00 (Saturday) (DS)
06:00 (Monday) – 06:00 (Saturday) (Non-DS)

Important Trading Information

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 in 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 term currency.

Example of Trading FX CFD

George goes long on 1 FX CFD on GBP/USD  @ 1.3000.

GBP/USD rises. 

He subsequently closes his FX CFD position on GBP/USD  @ 1.4500.

He earns a profit of:

(1.4500 – 1.3000) x 10,000 = 0.1500 x 10,000 = USD1,500.

George goes long on 1 FX CFD on GBP/USD  @ 1.4500.

GBP/USD falls.

He subsequently closes his FX CFD position on GBP/USD  @ 1.3000.

He made a loss of:

(1.3000 – 1.4500) x 10,000 = (-0.1500) x 10,000 = (-USD1,500).