Introductions to products

Trading guide

Currency pairs

16 currency pairs (US Dollar, Japanese Yen, Euro, British Pound, Australian Dollar, New Zealand Dollar, Swiss Franc, Canadian Dollar)

Trading unit

All currency pairs: 100,000 unit

Required margin

(As of Nov 22nd, 2024)

Currency pair	Required margin
EUR/USD	647,419YEN
USD/JPY	618,120YEN
GBP/USD	778,089YEN
USD/CHF	618,120YEN
USD/CAD	618,120YEN
AUD/USD	402,396YEN
NZD/USD	362,157YEN
EUR/JPY	647,480YEN
GBP/JPY	778,120YEN
CHF/JPY	697,040YEN
CAD/JPY	442,320YEN
AUD/JPY	402,480YEN
EUR/GBP	647,480YEN
EUR/CHF	647,480YEN
GBP/CHF	778,120YEN
NZD/JPY	362,120YEN

Daily margin requirement is set by multiplying 4% to the notional principal calculated from the previous day’s closing price of the interbank foreign exchange markets.
But we may change the margin requirement when we judge the change is necessary.

Swap points

2024/11/21 data

Spread

Currency pair	Spread
USD/JPY	7pips
EUR/JPY	8pips
GBP/JPY	11pips
AUD/JPY	9pips
NZD/JPY	10pips
CAD/JPY	11pips
CHF/JPY	9pips
EUR/USD	7pips
GBP/USD	10pips
AUD/USD	8pips
NZD/USD	9pips
USD/CAD	9pips
USD/CHF	9pips
EUR/CHF	11pips
GBP/CHF	11pips
EUR/GBP	9pips

The spread between our bid (your sell rate) and ask (your buy rate) may widen in case of unpredictable events such as changes in politics, economies and financial conditions, restrictions by governments and restrictions on foreign exchange markets, telecommunication failures,wars and terrorism. Under these circumstances, you may not be able to execute intended transactions.

Commission fee

We adopt volume discount system where the fee is significantly discounted depending on the size of the new orders.

Transaction volume per trade	One way commission fee per 100,000 currency unit
100,000 currency unit	0.06 yen (6,000 yen)
200,000 currency unit	0.05 yen (5,000 yen)
300,000 currency unit	0.04 yen (4,000 yen)
500,000 currency unit	0.03 yen (3,000 yen)
1 million currency unit	0.025 yen (2,500 yen)

※In the case of day trade, the fee is not charged for the settlement trade.
※Commission fee is charged at the same time as the conclusion of the trade.

Trading time

From Monday to Friday 8:00 ~ 23:00

Types of orders

Market Order	Trades are executed immediately at current rate
Limit Order	Trades are executed at favorable rates for the customers (Buy: at xx or below, Sell: at xx or above)
Stop Loss Order	Trades are executed at unfavorable rates for the customers (Buy: at xx or above, Sell: at xx or below)
IF-DONE Order	Simultaneous orders for a new order and a settlement order (if a new order is done then a settlement order becomes effective)
OCO Order	Simultaneous orders for a leave order and a loss cut order (if one order is done, the other one is cancelled)
IFD-OCO Order	Settlement order as the result of IF-DONE order is sent as a OCO order (if IF-DONE order is done, two types of settlement orders become effective)

Settlement limit

None. (Roll over system)

Trading form

OTC transaction

Rate indication

Two way indication

Alert notice (reminder mail)

Reminder mail is sent from i SECURITIES Co., Ltd when the effective margin falls below 125% or 75%.

In times of abrupt price movements, automatic settlements can take place without waiting for transmission of reminder mail.

It is the responsibility of the customer if you cannot receive our mail because of failing to notify us of the change in mail address or the domain of your mail address in mobile phones.

The rates used for profit and loss calculation in reminder mails are bid price for long positions and ask price for short positions.

Loss cut rule

(Loss cut rule A) All or a part of the position will be automatically settled when the effective margin falls below 50% of the required margin to avoid further losses until the effective margin recovers to above 50% of the required margin.

(Loss cut rule B) All or a part of the position will be automatically settled when the effective margin falls below 4% of the notional principal calculated according to the law until the effective margin recovers to above 4% of the notional principal.

Loss cut rule A does not guarantee 50% of the required margin.

In times of abrupt price movements, automatic settlements (loss cut) can take place without waiting for transmission of reminder mail.

It is the responsibility of the customer if you cannot receive our mail because of failing to notify us of the change in mail address or the domain of your mail address in mobile phones.

The rates used for profit and loss calculation in automatic settlements (loss cut) are bid price for long positions and ask price for short positions.

When loss cut rule A is applied, the final loss can exceed margin due to abrupt price changes etc.

Transaction fees are required too for automatic settlements (loss cut).

Trust safe keeping

We manage customer cash in Sumitomo Mitsui Bank as trust assets to make sure customers can trade with sense of security.

Regarding taxes

Profits arising from OTC FX transactions (both capital gains and swaps) need to be filed with the tax authorities as miscellaneous income from January 1 2012.

Tax rates are 15% for income tax, 2.1% x income tax as the special reconstruction tax and 5% for regional tax.
Profit and loss from FX can be aggregated with other futures profit and loss. And if the net is a loss, it can be rolled for three years under certain conditions.
FX profits gained by corporate entities will be included as income under the corporate tax calculation.
We submit payment records of the customers to the tax authorities with address, name and amount when OTC FX transactions are settled.
Please ask professionals such as tax accountants for details.

Special reconstruction tax will be taxed additionally for 25 years from 2013 to 2038 at the rate of 2.1% (0.315% of the profit).

Account maintenance fee

Free of charge

Time required for opening an account

About three days after returning the application form.

Payment of margin

We process payments and receipts of the margins between the customers and the company through FX margin account.
When the margin is exceeding the required amount, we will return the excess amount within four banking business day after the request from the customers.
(Requests received after 1PM Tokyo time will be processed the following day)

Remittance fee for domestic transfer will be paid by the company. Remittance fee for international transfer and transfer of foreign currencies will be paid by the customers.

Account for transfer is limited to a bank account registered under the name of the customer.

Cautionary points regarding margin payments Payment may differ from the requested amount due to changes in market prices etc.

As for payments larger than 500,000 yen, we will call your registered phone number for identity verification purposes before proceeding with the payment process.
Thank you for your acceptance.