You want to buy EUR/USD, so you place a limit-day order to buy five CFDs (equal to five lots) at 1.17599. This is the equivalent of buying €500,000 for $587,995. We’ll instantly check whether you have sufficient margin to cover the trade – EUR/USD has a margin factor of 2%, so you’ll need to deposit $11,759.90 as margin.
If you have the funds to cover the trade, then we’ll place the order on your behalf. If the order is accepted, we’ll create a parallel CFD between you and us.
Forex DMA is charged via commission instead of the spread, which means you’ll have to pay a fee to open your position. Our commission rates are variable, depending on how much FX you’ve traded in the previous month.
