Dogecoin is primarily used for tipping users on Reddit and Twitter, but it is also accepted as a method of payment by some merchants. It can be used to buy food, household supplies, and even website domains.
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.
The DOGE/USD has variable spreads that will widen and narrow subject to market conditions.
Min/Max Contract Size
Contracts are only available in multiples of 100.
The Minimum number of contracts per click (trade) for DOGE/USD is 100.
The Maximum number of contracts per click (trade) for DOGE/USD is 50,000.
Minimum Pip Cost (Value)
For 100 contracts DOGE/USD has a minimum value of $0.1 USD per point (Your per point 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/point location is shown below. Each 0.001 price movement on the DOGE/USD is 1 pip/point.
Number of FXCM Contracts to one Dogecoin.
1 FXCM DOGE/USD contract are currently equivalent to one Dogecoin.
DOGE/USD Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated between 17:00 ET to 18:00 ET daily.
DOGE/USD is leveraged at 2:1 and the new margin requirement will be the equivalent of half the notional value of 1 contract at 5pm EST.
or E.G if the DOGE/USD rate is 0.400 between 17:00 ET to 18:00 ET daily, the Margin Requirement for 100 contracts will be updated to $20.00 USD
DOGE/USD is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday
DOGE/USD does have an overnight funding charge (Displayed as Rollover in the Trading Station Platform).
The current overnight funding rate is 0% (annually) for short positions and -25% (annually) for long positions and is 3x on Fridays.
FXCM allows long and short trading on all our trading catalog.
However due to the high volatility and low liquidity when trading crypto currencies, there may be instances where new positions are unable to be opened on Dogecoin (DOGE/USD).
During any period in which Dogecoin (DOGE/USD) has a trading restriction applied, any market orders or triggered pending entry orders will be rejected and deleted.
Pop ups will appear on your screen informing of the reason for the rejection.
Any restrictions are temporary and will only impact your ability to enter trades.
You will still be able to close open positions.
DOGE/USD does not have a minimum stop distance
Stops and Limits are currently only able to be set at 50% of the rate.
Please note that the DOGE/USD is not available on MT4 accounts.