ForexClub

ExpressFX - zero-spread trading with a particularly user-friendly platform

ExpressFX is one of our most recent innovations. This trading platform features zero-spreads. With this platform, you pay only $0.6 for every $1,000 traded and get commission refunds for non-profitable trades. This features combined mean that you pay commissions to your broker only when you make profits on your trades.

• Zero-spreads
  
• $0.6 for every $1,000 traded
  
• Instant commission refunds on non-profitable trades
• And a built-in wizard that teaches you how to make trades, limit losses and make profits.
• Dow Jones news, candle charts and simple orders

ExpressFX Rules

Trading Forex for profit

How do you make money on Forex? Try selling or buying some currency with a free ExpressFX demo account and see how you can make or lose money as currency rates fluctuate.

Selecting the size of the trade

The larger your trade size, the more profits you will make if the price goes in your favor and the more you will lose if it goes against you. The Demo account is a great way to practice making trades of different sizes because you are not putting money at risk.

The minimum trade size is $1,000. But thanks to the leverage of up to 100:1 you can trade $1,000 when you have just $10 in your trading account. It is easy to calculate the maximum trade size. All you need to do is take the amount that is in your account and multiply it by 100.(!!! The high degree of leverage can work against you as well as for you)

Opening and closing a position

When you buy a currency you open a position. When you sell the same amount of the same currency, you close the position. During when your position is open you will be making or losing money depending on how currency rates change. If you bought a USD for EUR (USD/EUR) and its rate goes up, you are making money. If it goes down, you are losing money.

Take Profit and Stop Loss

Market prices move almost every moment, but this does not mean that you have to keep an eye on your positions every second. You can set a Take Profit order, which is a command to the dealing desk to automatically close your position when your profits reach a certain level. You can also set a Stop Loss order, which is a command to the dealing desk to close your position when your losses reach a certain level except for extraordinary market conditions. It is a good idea to set both of these orders simultaneously to establish a price range of how much you are willing to make and how much you are ready to risk.

Take Profit and Stop Loss II

The minimum stop-loss and take-profit limits are is $1.20 for every 1000 units of the base currency. For example, if your position size is $3000, the minimum limit for stop-loss and take-profit is 3 x $1.20 = $3.60. The Company retains the right to reject any trade with limit orders that violate this rule.

When you are changing your take-profit order on an open position that is currently making a profit, the new take-profit level should be set at not less than $1.20 for every 1000 units of the base currency from the current P/L.

When you are changing your stop-loss order on an open position that is currently making a loss, the new stop-loss level should be set at not less than $1.20 for every 1000 units of the base currency from the current P/L.

Commissions

Commission is a one time charge for opening a position. Forex Club charges just 60 cents for every $1,000 traded (or 1,000 pounds; or 1,000 Euro). Forex Club returns commission charges to you automatically and instantaneously on non-profitable trades.

Calculating Profit and Loss

You don't need to worry about doing any math because expressFX will do all calculations for you. However, if you would like to know how profits and losses are calculated there is one simple formula.

For the currency pairs where dollar is the base currency (USD/***):

Where dollar is not the base currency (***/USD):

Carrying positions over to the next day

Even though Forex market works around the clock, technically, each trading day ends at 21:00 GMT and the next trading day starts just a few moments after. 21:00 GMT is equivalent to 4 pm New York time in the winter and 5 pm New York time in the summer. All opened positions are automatically closed at the end of each trading day.

However, you don't have to close your positions each day as we offer an option of carrying positions over to the next day for a small fee of 15 cents for every 1,000. Please note, fees for carrying positions over are non-refundable.

Adjusting your positions

In addition to closing your position, you can also downsize, upsize or reverse it. To downsize a position you just need to sell some part of the currency that you have purchased. For example, if you have purchased 1000 Euro for dollars (BUY 1,000 EUR/USD) you can downsize your position by selling 500 Euro. You can upsize your position the same way by buying additional 500 Euros for dollars. You can also reverse a position altogether by selling 2000 Euro for dollars. This way your position will become SELL 2,000 EUR/USD. Please note downsizing or upsizing a position is not necessarily beneficial. It is merely a trading strategy.