Binance Coin (BNB/USD)
The Binance Coin (BNB) is the native cryptocurrency of the Binance blockchain, and Binance Smart blockchain. It was launched as an Ethereum token in 2017, but migrated to its own network in 2019.
Trading Hours
Please click here for trading hours.
Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted on here.
Spread
BNB/USD has variable spreads that will widen and narrow subject to market conditions.
Max Contract Size
The maximum number of contracts per click (trade) for BNB/USD is 1000.
Minimum Pip Cost (Value)
BNB/USD has a minimum value of 0.10 USD per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 1.00 price movement on BNB/USD is 1 pip/point.
Number of FXCM Contracts to one Binance Coin.
10 FXCM BNB/USD contracts are currently equivalent to one Binance Coin.
Margin Requirements
BNB/USD Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then between 17:00 ET to 18:00 ET daily.
BNB/USD is leveraged at 4:1 and the new margin requirement will be the equivalent of a quarter of the notional value of 1 contract at 5pm EST.
For E.G if the BNB/USD rate is 300.00 between 17:00 ET to 18:00 ET daily, the Margin Requirement for one contract will be updated to $7.50 USD
BNB/USD is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday
Overnight Funding
BNB/USD does have an overnight funding charge (Displayed as Rollover in the Trading Station Platform).
The current overnight funding rate is 0% (annually) for short positions and -25% (annually) for long positions and is 3x on Fridays.
Trade Restrictions
FXCM allows long and short trading on all our trading catalog.
However due to the high volatility and low liquidity when trading crypto currencies, there may be instances where new positions are unable to be opened on BNB/USD.
During any period in which BNB/USD has a trading restriction applied, any market orders or triggered pending entry orders will be rejected and deleted.
Pop ups will appear on your screen informing of the reason for the rejection.
Any restrictions are temporary and will only impact your ability to enter trades.
You will still be able to close open positions.
Other Information
BNB/USD does not have a minimum stop distance
Stops and Limits are currently only able to be set at 50% of the rate.
BNB/USD is not available on MT4 accounts