Do we accept US clients?
How does SHK Forex provide price quotes?
What leverage does SHK Forex offer?
What is the minimum account opening amount?
What is the settlement currency?
What are the trading hours?
What are SHK Forex's fees and commissions?
Under what circumstances might my positions be closed out?
You will receive a margin call when your open position falls below 3% of the gross principal value of the contract. If you do not return your portfolio to the required margin level – 3% of the contract value – SHK Forex, without further notice, will auto liquidate your position if the margin falls to 1%.
E.g.: You sell 100,000 EUR at the rate 1.3000, 1 pips = USD10
5% initial margin = USD130,000 x 5% = USD6,500
3% margin call = USD130,000 x 3% = USD3,900, that means when your balance drops below to USD3,900, you will receive a margin call by email and by phone. At that time, the price has gone from 1.3000 to 1.3260.
USD6,500-USD3,900 = USD2,600
USD2,600/ USD10 = 260pips
1.3000 + 0.0260 = 1.3260
We will request you to deposit money into your trading account. Otherwise, once your margin level drops to 1%, we will liquidate your position.
1% close out position = USD130,000 x 1% = USD1300, that means when your balance drops below to USD1300, we will close out your position automatically. At that time, the price has gone from 1.3000 to 1.3520
USD6500 – USD1300 = USD5200
USD5200 / USD10 = 520 pips
1.3000 + 0.0520 = 1.3520
The above examples are for illustrative purposes only. SHK Forex expressly reserves its full range of rights and powers under its Client Agreement and Schedules to close out positions. For more details, please refer to the latest version of its Client Agreement and Schedules.