NDF Products

NDF, Non-Deliverable Forward, is a foreign exchange forward contract on a notional amount where no physical settlement of the two currencies takes place at maturity. Instead a net cash settlement is made by one party to another based on the difference of the two FX rates. The settlement is done using a pre-determined currency, typically USD.

We pride ourselves in offering excellent NDFs trading experience in the market. With FXCM, you not only gain access to the top NDF pairs, but also the tools and support you need to navigate the market.

Margin Requirements
Margin Requirements may differ depending on account type and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.

Trading Hours
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. FXCM's NDFs Products do not expire, but FXCM NDFs will not be open for trading during holidays in which the reference markets are closed.

Spreads
FXCM offers competitive spreads on our NDFs instruments. Spreads are variable and historical average spreads and available pairs can be found here.

Max Contract Size
The maximum number of contracts per click (trade) for the NDF pairs vary.

Minimum Pip Cost (Value)
The word "PIP" stands for Percentage in Point. In NDFs, a pip is what you would consider a "point" for calculating profits and losses.

In the Trading Station you can see the value of a pip for each of your trades when entering a Market or Entry Order.

Under the Amount (K) field, you will see "Per pip". This will be the Pip value in your base currency.

Financing Charge
For NDFs, the Finance Charge only apply to account for holding a position over the Rollover period when we roll over a contract into the next one. For open positions at the end of the rollover date (5pm EST), the Finance Charge will be applied.

Please click here to view NDF Rollover Calendar.