US Stocks (24 Hours)

The MAG7.24h basket is a unique product composed of extended hours US Shares combined into one instrument.

At the time of the baskets inception, each stock was given a value in $ terms. The baskets will from that point forward measure the collective performance of each of the correlated components.

The Index began on January 2, 2025, at a value of $2,000. It represent the changes in value from inception, of $285.71 position in each of the components.

For example:
MAG.24h original price was $2,000 and Microsoft Inc. (24 Hours) represented $285.71 of that $2,000.
If today that same amount of Microsoft Inc. (24 Hours) shares that were worth $285.71 is now worth $300.00, that stocks contribution to FXCM's MAG7.24h price will be $300.00.

The contribution of each of the stocks will formulate the current rate of a Stock Basket.

Margin Requirements

Margin Requirements are updated daily during the market break.

Most Stock Baskets are leveraged at approximately 20:1 and the new margin requirement will be the equivalent of approximately 5% of the notional value of 1 contract.

For E.G if the MAG7.24h rate is 2000.00 during the market break, the Margin Requirement for one contract will be updated to $100.00 USD

US Shares vs US Shares (24 Hours)

Different trading hours

• ".us" instruments operate only normal market hours:
  • 09:30 – 16:00 ET
• ".ext" instruments operate all sessions:
  • Normal market hours: 09:30 – 16:00 ET
  • Extended hours:
    • Pre-market: 04:00 – 09:30 ET
    • Post-market: 16:00 – 20:00 ET
    • Overnight market: 20:00 – 04:00 ET (Next Day)

Volume, liquidity and Risk
Due to less trading volume than regular hours, there is limited liquidity during the extended hours session. Because of the lower trading volume, it is not unusual to see higher volatility, wider spreads, or difficulty in having trades execute. Almost all company news announcements occurs outside of the regular market hours. During these events and at any time during the extended hours session prices may move very quickly up or down and can reach prices that were not reached during the regular trading session.

Trading Hours

Please click here for trading hours.

Please note, however, that hours are subject to change based on Daylight Savings Time. Also, FXCM’s Stock Baskets do not expire, but will not be open for trading during holidays in which the reference markets are closed.

Maximum Contract Size

The maximum number of contracts per click (trade) for all Stock Baskets is 200.

Minimum Pip Cost (Value)

Stock Baskets have minimum value of $1 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.

Rollover

Stock Baskets do have financing cost (Rollover).

For more information on financing costs, please refer to:

What is the Index CFD financing cost?

Dividends and Withholdings

Dividend adjustments will apply on the eve of the ex-dividend date of the constituent members of the relevant Basket. The adjustment will appear on your statement and the amount of the adjustment per contract can be seen in the simple dealing rates window of the Trading Station platform in the day prior to the debit/credit.

As per Section 871 of the US tax code. A 30% tax applies on dividend adjustments to traders of equity derivatives of US stocks. In accordance with FXCM’s obligation under this US tax regulation, 30% of all Dividend credits are withheld and passed on by FXCM to the IRS.

When your account is debited, you are debited the full amount. However FXCM subsequently pass on 30% of that debit to the IRS.*

• This tax treatment is applied by default to all positions and may be subject to change in the future. Rebates may be available depending on your individual tax and residency circumstances, or may differ based on the respective jurisdiction. Please contact FXCM support if you believe you may be entitled to a rebate for additional information you will need to provide. This information is for references purposes only, and reliance on the information contained herein is not an alternative to legal advice from an attorney or other professional legal/accounting services provider. This information is not intended as a financial or an investment advice and must not be construed as such. Seek advice from a separate financial advisor. FXCM assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of the information or other items contained within these materials.

Stock Basket Dividends and Withholdings

Other Information

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

In the event of significant drawdown of one of the components or a corporate action, the Baskets may require a periodic rebalancing. In the event of a rebalancing a component of the basket may be replaced or all open positions may be closed with little or no notice.

MAG7.24h will be closed during extended trading hours (after 4pm EST) prior to the Ex Date of a corporate action.