CryptoMajors

The CryptoMajors basket is a unique product that combines Bitcoin (BTC/USD), Ether (ETH/USD), Litecoin (LTC/USD) and Bitcoin Cash ABC (BCH/USD) into one instrument and is a benchmark designed to reflect the change in USD value of a basket of Cryptocurrencies with the highest market share at the time of the baskets inception.

The Index began on December 31st, 2020, at a value of $100. It represent the changes in value from inception, of a $25 position in each of the components:

Trading Hours

Please click here for trading hours (Refer to “All Cryptocurrencies”)

Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted on here.

Spread

CryptoMajors has variable spreads that will widen and narrow subject to market conditions.

Max Contract Size

The maximum number of contracts per click (trade) for CryptoMajors is 200.

Minimum Pip Cost (Value)

CryptoMajors has a minimum value of 1.00 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 1.00 price movement on the CryptoMajors is 1 pip/point.

Margin Requirements

CryptoMajors Margin Requirements are updated shortly after market open (Sunday 18:00 ET) and then updated daily between 17:00 ET to 18:00 ET

CryptoMajors is leveraged at 4:1 and the new margin requirement will be the equivalent of a quarter of the notional value of 1 contract at 5pm EST.

For E.G if the CryptoMajors rate is 200.00 between 17:00 ET to 18:00 ET, the Margin Requirement for one contract will be updated to $50 USD

CryptoMajors is a volatile instrument and in the event that there is a significant intraday market move, margin requirements may be updated intraday

Overnight Funding

CryptoMajors 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.

Trade Restrictions

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 CryptoMajors.

During any period in which CryptoMajors 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.

Other Information

In the event that one of the individual components of the Basket does not receive a price update for 1 minute, CryptoMajors will become temporarily untradeable. This may result in hanging orders on TS2 or Rejected orders on MT4. We recommend trading with caution around Market Open and Close and any other period of low liquidity.