DOT/USD
The DOT token is the native token of the Polkadot network. As such, it serves a couple of vital roles in the system. It's used to participate in governance decisions, including tabling proposals, voting, and bonding. It can also serve as an electronic payment system.
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 DOT/USD has variable spreads that will widen and narrow subject to market conditions.
Min/Max Contract Size
The Minimum number of contracts per click (trade) for DOT/USD is 1.
The Maximum number of contracts per click (trade) for DOT/USD is 400.
Minimum Pip Cost (Value)
For 1 contract DOT/USD has a minimum value of $0.01 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 0.01 price movement on the DOT/USD is 1 pip/point.
Number of FXCM Contracts to one Polkadot.
1 FXCM DOT/USD contract are currently equivalent to one Polkadot.
Margin Requirements
DOT/USD Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then between 17:00 ET to 18:00 ET daily.
DOT/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 DOT/USD rate is 52.000 between 17:00 ET to 18:00 ET daily, the Margin Requirement for 1 contract will be updated to $13.00 USD
DOT/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
DOT/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 Polkadot (DOT/USD).
During any period in which Polkadot (DOT/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
DOT/USD does not have a minimum stop distance
Stops and Limits are currently only able to be set at 50% of the rate.
Please note that the DOT/USD is not available on MT4 accounts.