US Shares (24 Hours)
The underlying Stocks for US Shares (24 Hours) are traded on either the NASDAQ or NYSE. They can be identified by a .ext at the end of the ticker symbol.
US Shares vs US Shares (24 Hours)
Different trading hours
- ".us" instruments operate only normal market hours:
- 09:30 – 16:00 ET
- ".ext" instruments operate all sessions:
- Normal market hours: 09:30 – 16:00 ET
- Extended hours:
- Pre-market: 04:00 – 09:30 ET
- Post-market: 16:00 – 20:00 ET
- Overnight market: 20:00 – 04:00 ET (Next Day)
Volume, liquidity and Risk
Due to less trading volume than regular hours, there is limited liquidity during the extended hours session. Because of the lower trading volume, it is not unusual to see higher volatility, wider spreads, or difficulty in having trades execute. Almost all company news announcements occurs outside of the regular market hours. During these events and at any time during the extended hours session prices may move very quickly up or down and can reach prices that were not reached during the regular trading session.
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
US Shares (24 Hours) have variable spreads that will widen and narrow subject to market conditions.
Max Contract Size
The maximum number of contracts per click (trade) for US Shares (24 Hours) is 5,000
Number of FXCM Contracts to one Share.
10 FXCM US Shares (24 Hours) contracts are currently equivalent to 1 Share.
Minimum Pip Cost (Value)
US Shares (24 Hours) have a minimum value of 0.001 USD per pip (Your per pip 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 location is shown below. Each 0.01 price movement on US Shares (24 Hours) is 1 pip.
Margin Requirements
US Shares (24 Hours) leverages vary per product as the value is determined by FXCM based on market conditions. Margin is updated daily after 5pm ET as a % of the last price before 5pm ET.
Please check the margin info page for details on target margin %'s per instrument.
For E.G if a stocks midpoint is 200.00 at 5pm ET, It would have a notional value of $20 per 1 FXCM contract (as 1 FXCM = 0.1 Shares)
If the Margin Requirement for this instrument is listed as 10%, the margin will be updated to $2 USD
Likewise If the Margin Requirement for this instrument is listed as 50%, the margin will be updated to $10 USD.
Overnight Funding/Dividends/Withholdings
US Shares (24 Hours) have financing cost (Rollover).
What is the Single Share CFD financing cost?
Dividend adjustments will apply on the eve of the ex-dividend date of the underlying stock. The adjustment will appear on your statement. Long Positions will be Credited and Short Positions will be debited.
As per Section 871 of the US tax code. A 30% tax applies on dividend adjustments to traders of equity derivatives of US stocks. In accordance with FXCM's obligation under this US tax regulation, 30% of all Dividend credits are withheld and passed on by FXCM to the IRS.
When your account is debited, you are debited the full amount. However FXCM subsequently pass on 30% of that debit to the IRS.*
- This tax treatment is applied by default to all positions and may be subject to change in the future. Rebates may be available depending on your individual tax and residency circumstances, or may differ based on the respective jurisdiction. Please contact FXCM support if you believe you may be entitled to a rebate for additional information you will need to provide. This information is for references purposes only, and reliance on the information contained herein is not an alternative to legal advice from an attorney or other professional legal/accounting services provider. This information is not intended as a financial or an investment advice and must not be construed as such. Seek advice from a separate financial advisor. FXCM assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of the information or other items contained within these materials.
Other Information
FXCM offer Micro Contracts for shares, where the pip cost of your position may be either less than 0.01 CCY or not a multiple of 0.01 CCY.
Please note that all Profit or Loss calculations are calculated and credited/debited to two decimals, and therefore rounding up or down may be required.
Charting
All Share/ETF CFD historical charting should be considered to be indicative in nature. FXCM stores Dealing data for the most highly active stocks, and is therefore able to provide Bid/Ask charts on the platforms. However, for most Share/ETF CFD instruments, FXCM utilizes exchange transactional data, which are the prices at which a seller and a buyer met in the underlying exchange. Exchange transactional data has several differences from Dealing data, and cannot be used to confirm execution of non-Exchange based trading. Please always refer to your rates window in the platform for real time Dealing pricing.
Trade Restrictions
Due to market conditions, certain share CFDs may have trading restrictions that are subject to change with no notice. Click here for more information.
Corporate Actions
Market will be closed during extended trading hours (after 4pm EST) prior to the Ex Date of a corporate action, including but not limit to:
- Merger and acquisition
- Forward/Reverse stock split
- Spin-off
- Bonus issue
- Cash and stock dividend
- Rights offering
- Delisting
In the event of any corporate actions such as, but not limited to, stock splits, reverse stock splits, mergers, and spin-offs; FXCM shall determine in accordance with market practice the appropriate adjustment, if any, to be made to the current contract value or contract quantity of any open positions in order to preserve the economic equivalent of your position or to reflect the effect of the event on the relevant underlying share.
FXCM aims to open and close markets as close to the posted trading hours as possible, however in the event of certain corporate actions, FXCM may place trade restrictions, delay market open or bring forward market close. Depending on the type of corporate action, all open positions may potentially be liquidated and/or pending entry orders, stops and limits associated with the instrument may be cancelled. In this case clients would need to re-establish another position if desired and/or insert new stops and limits.
For more information on upcoming corporate actions and treatments visit our FAQ's at:
Single Share CFDs Corporate Actions
Withholding Rebates
As per Section 871 of US tax code, a withholding tax applies on dividend adjustments to traders of equity derivatives of US stocks.
In accordance with FXCM's obligation under these US tax rules, 30% of all credited Dividend adjustments on US shares, ETFs, or Stock Baskets are withheld and passed on by FXCM to the IRS.
If you are a taxpayer in a jurisdiction where a tax treaty exists that permits a lower withholding percentage and you qualify for the treaty benefit, you can submit a W-8BEN form (or other W-8 form based on your entity type) and FXCM will provide an adjustment to your account in the form of monthly rebate.
How to submit?
- Log in to MYFXCM.
- Select "Upload Documentation" from the "My Info" dropdown.
- Choose "Other" and Provide details that you are "submitting W-8 for a reduction in withholdings."
Please Note:
- FXCM will confirm to you via email that your form has been processed.
- Rebates for the previous month will generally be credited within 2 weeks of the end of the month.
- FXCM Customer service staff are unable to provide you tax advice based on your individual circumstance or location.
- Your details will remain valid for 3 years unless your tax or residency circumstances change, however eligibility may be subject to change without notice.