TodayFx Risk Disclosure

 

 

 

How do TodayFx earn its Revenue ?

'TodayFx earns a share of the pip spread, or the difference between the currency bid and ask rates. Each pip is the equivalent of 1/100th of a cent and the pip spread between most major currencies is 3-4 pips. You do not pay TodayFx or its brokerage firm a separate fee or commission for the opening or the trading of an account. The cost to you is the quoted pip spread. There are no hidden fees.'

 

Donal Keane, CEO

 

 

Pip Spread Prices
Sep 2006
Pair Basis points Pair Basis points
*EUR/USD
.0003
USD/CAD
.0004
GBP/USD
.0003
AUD/USD
.0003
EUR/GBP
.0003
NZD/USD
.0004
*USD/JPY
.03
EUR/CHF
.0003
EUR/JPY
.03
GBP/JPY
.09
USD/CHF
.0003
AUD/JPY
.07
USD/SEK
.0040
USD/NOK
.0040
GBP/CAD
.0008
USD/SGD
.0006
GBP/CHF
.0007
EUR/PLN
.0030
USD/ZAR
.0170
USD/PLN
.0040
USD/HKD
.0007
USD/TRY
.0020
GBP/NOK
.0080
EUR/NOK
.0035
CHF/NOK
.0030
   
Gold 1.00 Silver .0400

 

*Pip spread is 2 pips for account > $50K

 

Rollover/Interest Policy


At 6:00 PM New York Time (23:00 BST), funds are subtracted or added to accounts with open positions because of the automatic rollover. Funds are added to the account for positions in which the client is long (holding) the currency bearing the higher interest rate. Funds are deducted in the opposite circumstance.The exact calculation is based on 1 day interbank deposit rates and is as follows:

1) (1 day interbank dep. rate for base ccy.) - (1 day interbank dep. rate for counter ccy.) = interest rate differential.
2) Interest rate differential / 365 = daily differential.
3) (Daily differential x total open position in currency pair) / 100.

Full details on overnight interest policy

 

 

Up to 100:1 Leverage


Clients must have approximately 1% of the value of the positions they hold in their account for each lot of currency being traded (approximately 100:1 leverage). This equates to $1000 per lot (100,000 units). This amount does not change after 5:00 PM New York time, which is the rollover cut off, but stays constant at approximately 1% per lot the entire day and overnight.

 

Margin Watcher


There is also an important safety feature imbedded in this system that prevents clients from losing more money than they have in the account. Should the account equity -- meaning the total floating value of the account -- fall below the margin requirement of approximately 1% per lot, the dealing desk will close all positions. This protects the trader from losing more than the funds deposited into the trading account.

 

Market conditions


Note 1:

Fixed Spreads

 

Our brokeage firm maintains fixed spreads during normal market conditions. During periods of extreme market volatility spreads may widen. TodayFX will try to warn clients in advance of expected volatile trading periods.

 

Note 2:

Stop-loss, limit and entry orders

 

All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinarily volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website or available from sales@todayfx.com.

 

 

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TODAYFX - FOREX TRADING SERVICES

Why should I open a Live Account ?

  1. You are an accomplished, experienced trader or trading firm.
  2. You want competitive and fixed pip spreads.
  3. You value real time reports and market news.
  4. You want to be allowed trade, even during high market volatility.
  5. You want an internationally regulated and reputable broker.
  6. You require access to a large and liquid market (our primary broker uses 3 of the top 4 liquidity providers in the global forex market).
  7. No Capital gains tax on profits.

Standard Trading Account Features:

  • 100k trading lots.
  • Up to 25 currency pairs + gold and silver.
  • Accounts can be in dollar, yen, sterling, euro or CHF denominations.
  • Open an account from $5,000.
  • No commission charge.
  • Leverage up to 100:1* (margin 1% - see rollover interest policy).
  • Account protected by automated margin watcher.
  • Market updates and charts live on trading platform.
  • Instantaneous execution from live, streaming prices under normal market conditions.
  • Fixed spreads during normal market conditions - note 1:
  • Guaranteed fills on stops/limits - note 2:
  • Dow Jones real-time newswire service through TodayFx, includes all key indicators as soon as they are released.
  • Live price & indicator alerts through free email alerts and an SMS messaging service (optional) from TodayFX.

* - Leverage can work for you as well as against you. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.


 

Submitting Your Application


 

Opening an FX trading account with TodayFx is easy. Applications can be downloaded here or requested by email. For assistance in completing the application, please click on the live chat button below or contact us. Our representative will call you and explain the application process in detail. All completed applications must be mailed by post, in compliance with Swiss financial regulations.

 

 

 

Live chat by Boldchat

 

Having problems - ? Use the on-line assistance.

If no representative is available, please contact us.

 

 

Instructions for Completing the FX New Account Agreement

 

  1. Print out and read the New Account Agreement.
  2. Type in or write in all required information.
  3. Sign the necessary sections.
  4. Fax the required pages to Accounts Section at (353) 21-4518692 or scan and email to accounts@todayfx.com, stating that this is a new account application and we can process it for you.
  5. Mail the completed documents to Accounts Section, TodayFx, 1 Saint Patrick's Quay, Cork City.

Your Application must be accompanied by:

  1. One form of government issued identification from each account holder (i.e. copy of driver's license, passport, etc.). This must be notarised by a notary or lawyer, or stamped and signed by your bank.
  2. Proof of client’s residential address as represented on the account application (i.e. utility bill or bank statement, Note: P.O. Boxes are NOT acceptable).

If you require any assistance on what is required to complete your application please contact us at accounts@todayfx.com, or ring the TodayFx office at +353-21-4518692.


 

Institutional Account Features

  • Original startup funds: 50'000 USD or equivalent.
  • Spreads: 2 pips on EURUSD & USDJPY.
  • Guaranteed fills: What you click is what you get in ALL forex market conditions. Applies to ALL order types!
  • No commissions.
  • Leverage: Up to 100:1, equates to 1% margin.
  • Execution method: Constant 1 click dealing ONLY & instant execution!
  • No negative balances. Fully automated margin liquidation.
  • Account denomination: Can be USD, EUR, GBP, CHF or JPY.
  • No capital gains tax on profits.
  • Dow Jones real-time newswire service through TodayFx, includes all key indicators as soon as they are released.
  • Live price & indicator alerts through free email alerts and an SMS messaging service (optional) from TodayFX.

Download Institutional Account Form

 


If you are interested in opening an institutional account, please contact us directly at sales@todayfx.com or ring us at:

+353-21-4518692..