Ether (ETH/USD, ETH/AUD, ETH/EUR)
Ether is the digital currency used by Ethereum, a decentralised platform that runs smart contracts.
Ether is the fuel or “gas” used to pay for transactions made on the Ethereum platform. Ether gives participants a reason to contribute resources used by the platform, thereby ensuring a robust network. Further, it provides developers with incentive to write efficient code, as inefficient software programs are more expensive.
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
The ETH has variable spreads that will widen and narrow subject to market conditions.
Max Contract Size
The maximum number of contracts per click (trade) for ETH is 1000
Minimum Pip Cost (Value)
ETH has a minimum value of 0.10 CCY 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 ETH is 1 pip/point.
Number of FXCM Contracts equal to one Ether
10 FXCM ETH contracts are currently equivalent to one Ether.
Margin Requirements
ETH Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated daily between 17:00 ET to 18:00 ET
ETH 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 ETH rate is 300.00 between 17:00 ET to 18:00 ET, the Margin Requirement for one contract will be updated to $7.50 USD
ETH is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday
Overnight Funding
ETH 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 Ether (ETH). During any period in which Ether (ETH) 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
Ether (ETH) does not have a minimum stop distance