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UNIVERSAL ACCOUNT. 10,000 (10K) mini and 100,000 (100K) standard contracts (lots) can be traded on the same
trading platform and client's account, with the following trading terms:
a) Spreads and Interests:
Daily market overnight interest/rollover charge for trading with standard 100K contracts is shown in the below table. For
trading with mini contracts, the overnight interest/rollover charge is 10 times less. Overnight Interest/Rollover is
automatically paid to a client's account after buying a currency with greater Interest Rate in its country, and charged to a
client's account if the country issuing this currency has smaller Primary Interest Rates.
* Please note that the rollover interest rates listed in the table below are estimates. Actual rollover interest rates
fluctuate and update every day. Please see the information below the table for more details. For the most accurate
up-to-date rates, please look under the Advanced tab on the "Dealing Rates" window in the VTspot client.
Rollover/Interest Policy:
In the spot forex market, all trades must be settled in two business days. A rollover refers to the process of closing open
position for today's value date and the opening of the same position for the next day's value date at a price reflecting
the difference in interest rates between the two currencies. In accordance with international banking practices, CMS
automatically rolls over all open positions to the next date at 5 PM EST for settlement. Rollover involves exchanging the
position being held for a position expiring the following settlement date. For example, for trades executed on Monday,
the value date is Wednesday. However, if a position is opened on Monday and held overnight, the value date is now
Thursday. The exception is a position opened and held overnight on Wednesday. The normal value date would be
Saturday; because banks are closed on Saturday the value date is actually the following Monday. Due to the weekend,
positions held overnight on Wednesday incur or earn an extra two days of interest. Trades with a value date that falls on
a holiday will also incur or earn additional interest.
CMS clients can earn interest on rollovers, depending on the direction of their positions and interest rate differential
between the two currencies involved. For instance, the primary interest rates in Great Britain are much higher than in
Japan, so if a trader buys GBP, he/she will earn interest at 5 PM EST time. on the other hand, if he/she sells GBP in this
currency pair, he/she will pay interest at 5 PM EST time.
Important Message About the Risks of Trading Currencies.
* Under normal market conditions. We do our best to provide execution at the trader's specified price. It is the in-house
policy of CMS to try to honor all stop and limit orders up to 10 standard lots. However, during extremely fast market
moves, this sometimes is not possible. Under no circumstances will a market order be executed at a price that is not
approved by the trader.
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FENIX CAPITAL MANAGEMENT, LLC, 12890 S.W.VILLAGE PARK LANE, TIGARD OR 97223, U.S.A.
E-MAIL: admin@fenixcapitalmanagement.com FAX: 1.503.213.8896 TEL: 1.512.532.7475
__________________________________________________________________________
Fenix Capital Management,LLC (“FCM”)
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RISK WARNING
THE RISK OF LOSS IN TRADING FOREX CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. PAST
PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. THERE IS RISK OF LOSS IN FOREX TRADING.
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