FOREX: CREDIT DEFAULT SPREADS AND EUR/USD NASDAQ It is an extremely quiet day in the foreign exchange markets with most of major currencies ending the NY trading session unchanged against the US dollar. ...
Starting February 1, 2010 the LiteForex group of companies announces that spreads on majors are decreased.
Starting February 1, 2010 the LiteForex group of companies changes trading conditions lowering spreads on major currency pairs and major cross pairs.
“Now the difference between Ask and Bid for the most popular trading instruments among our clients is 1 pip lower that it used to be,” – Aleksey Smirnov, the president of the LiteForex group of companies comments. – “For example, the spread on EURUSD pair becomes 2 pips, and on USDJPY and GBPUSD – 2 and 3 pips respectively. We hope that the following changes will be a pleasant addition to the well-known list of advantages of working with LiteForex”.
“The LiteForex group of companies offers to its clients a lowered fixed spread starting from 2 pips during February 2010 as a special promotion aiming to improve personal trading results of traders working with the group of companies,” – Aleksey Smirnov continues.
According to the LiteForex quoting regulations the company reserves the right to change spreads in line with the current market conditions depending on volatility of the given financial instrument and on the amount of an interest rate as soon as such changes are required.
Please visit our company page for more specific information upon the current spreads: open section “Trading instruments” of the LiteForex web site.
E*TRADE FINANCIAL Corp. (NASDAQ: ETFC) today announced new pricing that eliminates its $12.99 commission tier and account activity fees, and increases simplicity, value, and transparency for current and prospective customers of E*TRADE Securities LLC.
Commencing February 8, 2010, all customers of E*TRADE Securities will benefit from $9.99 or less per stock and options trade pricing (plus a $0.75 per options contract fee), while higher volume traders will continue to enjoy the current $7.99 per trade rate. In addition, E*TRADE Securities has eliminated annual IRA account fees; a per share commission formerly applied to market trades larger than 2,000 shares; and, effective in the second quarter of 2010, all account service fees.
"Our simplified pricing provides a cost-effective, transparent solution for investors," said Michael Curcio, President, E*TRADE Securities LLC. "The new pricing structure complements our innovative product offering and high quality service, and reinforces our commitment to offering a compelling value proposition to our customers."
The new pricing structure for stocks and options builds on E*TRADE's simple and competitive bond, mutual fund, and margin pricing. Rated the #1 Online Broker for three straight years by SmartMoney(R) Magazine, E*TRADE delivers access to more than 8,000 non-proprietary mutual funds and all ETFs, with no mark ups on 30,000 bonds and other fixed income securities. To learn more about E*TRADE's tools, research, and guidance, visit www.etrade.com.
About E*TRADE FINANCIAL
The E*TRADE FINANCIAL family of companies provides financial services including online brokerage and related banking products and services to retail investors. Specific business segments include Trading and Investing, and Balance Sheet Management. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries.
Important Notices
SmartMoney is a registered trademark of SmartMoney, a joint publishing venture between Dow Jones & Company, Inc. and Hearst(SM) Partnership.
E*TRADE FINANCIAL, E*TRADE and the E*TRADE logo are trademarks or registered trademarks of E*TRADE FINANCIAL Corporation.
The volume commission is charged in the primary currency for every executed trade. Volume commission rate is expressed in USD per 1 million USD traded.
The volume commission is converted to the Client Account’s Basic Currency at the settlement time.
For Clients trading by themselves (Self Traders) the volume commission rate depends on Net Deposit, Equity and Traded Volume as explained below (commissions come into effect 05-Feb-2010 at the settlement time):
Net Deposit
(in USD equivalent) Volume Commission in USD per 1 million USD
Deposit with Dukascopy Deposit with Custodian Bank
or Bank Guarantee
< 5 000 48 N/A
≥ 5 000 38 N/A
≥ 10 000 32 N/A
≥ 25 000 25 N/A
≥ 50 000 18 N/A
≥ 250 000 16 18
≥ 500 000 14 18
≥ 1 000 000 12 18
≥ 5 000 000 9 18
≥ 10 000 000 5 18
Net Deposit - is the sum of all deposits less the sum of all withdrawals in USD equivalent.
Equity
(in USD equivalent) Volume Commission in USD per 1 million USD
Deposit with Dukascopy Deposit with Custodian Bank
or Bank Guarantee
< 5 000 48 N/A
≥ 5 000 38 N/A
≥ 10 000 32 N/A
≥ 25 000 25 N/A
≥ 50 000 18 N/A
≥ 250 000 16 18
≥ 500 000 14 18
≥ 1 000 000 12 18
≥ 5 000 000 9 18
≥ 10 000 000 5 18
Equity - estimation of the account of the Client in USD equivalent at settlement time.
Traded Volume
(in USD equivalent) Volume Commission
in USD per 1 million USD
≥ 5 million 38
≥ 10 million 32
≥ 25 million 25
≥ 50 million 18
≥ 250 million 16
≥ 500 million 14
≥ 1 billion 12
≥ 2 billion 9
≥ 4 billion 5
Traded volume is volume of executed trades over the last 30 days in USD equivalent.
In case Net Deposit, Equity and Traded Volume lead to different commission rates, Dukascopy applies the lowest (as illustrated in the examples below).
For Self Traders with several margin accounts with Dukascopy, Net Deposits, Equities and Traded Volumes are cumulated to define a unique volume commission rate applied to all margin accounts.
The volume commission is determined on a daily basis at every settlement time. The defined rate will be applied on the following trading day.
For Clients appointing an external manager/attorney, the volume commission rate may amount to a maximum of USD 100 per USD 1 million traded. For Dukascopy Managed Accounts, the volume commission rate is USD 40 per USD 1 million traded.
To learn more about Dukascopy ECN Accounts, please write us: info@dukascopy.com,
call us: +41 (0) 22 799 4888 or alternatively ask for a call-back.
Paul Day, Chief Market Analyst, is scheduled for CNBC's Squawk Box Europe on Tuesday 9th February @ 07:00 CET with technical analysis on currencies and commodities. Check back to watch the interview.
An introductory seminar that teaches you common methods for beginners to start trading forex, presented in real time. Personal consultations are available upon request.
Current market themes. Educational opportunities. Transitioning from demo to live trading.
Current market themes.