Product

Forex (FX) CFD

Trade Forex CFD with up to 20 times Leverage

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

Advantages of Forex CFD Trading

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, the forex market. Investors who are looking for more forex trading opportunities and keen on currency trading 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 CFDs on POEMS 2.0, POEMS Mobile 3.0 (iOS & Android), POEMS Pro and POEMS CFD MT5. 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 Currency Pairs Available for CFD Trading

FX CFD Pairs Best Spread Margin Requirement Settlement Currency 
EUR/USD 0.3 Pips 5% US Dollars
USD/JPY 0.4 Pips 5% Japanese Yen
GBP/USD 0.3 Pips 5% US Dollars
USD/SGD 0.4 Pips 5% Singapore Dollars

List of FX CFD Currency Pairs

Contract Specifications
Value of 1 Pip C$1
Best Spread 1.4 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 1.2 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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  NZ$1
Best Spread 1.7 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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  S$1
Best Spread 2.1 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 US$1
Best Spread 0.3 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 1.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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  S$1
Best Spread 2.3 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 1.7 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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  S$1
Best Spread 2.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 AUD1
Best Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 C$1
Best Spread 2.1 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 1.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 £1
Best Spread 0.6 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 0.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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   NZ$1
Best Spread 2.7 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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   S$1
Best Spread 2.1 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 US$1
Best Spread 0.3 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 AUD1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 C$1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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  NZ$1
Best Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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   S$1
Best Spread 2.1 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 US$1
Best Spread 0.3 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 C$1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 2.1 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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   S$1
Best Spread 2.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 US$1
Best Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 Spread 1.9 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 C$1
Best Spread 1.6 Pips
Minimum Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 RMB1
Best Spread 1.5 Pips
Minimum Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 CHF1
Best Spread 1.4 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 HKD1
Best Spread 1.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 10%
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 Spread 0.4 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 S$1
Best Spread 0.4 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 THB100
Best Spread 0.5 Pips
Contract Size Minimum 10K in base currency
Margin Requirements 5%
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 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

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).