At CIB we quote major foreign exchange (forex) currency pairs to five decimal places which allow us to be more accurate in our pricing offering FX traders the best possible spreads. With prices measured in 1/10th of a pip the view of the foreign exchange market and its direction is easily identifiable in comparison to four-digit pricing where currency trading figures are ‘rounded up’ or ‘rounded down.’
CIB offers competitive spreads on all our forex currency pairs. On major pairs, spreads start at 0.6 pips.
Forex Trading Times
Forex trading online is available 24 hours a day, 5 days a week allowing traders access during all market trading times.
CIB can execute any MT4 forex order size starting from 0.01 lots or the equivalent of 10,000 of the base currency with no maximum order size.
Swap / Rollover
If a trade is kept open overnight, then there is a swap/rollover cost/income calculated on that position. The cost or income is calculated as the overnight interest rate differential between the two currencies plus the commission charged by the company on which the position is held, depending on the type of the position (long/short). The ’swap’ is charged automatically on the account of the client and is converted into the currency that the account is denominated in. The ‘swap’ is charged at 23:59 server time (GMT+2). From Friday to Monday swap is charged once. From Wednesday to Thursday swap is charged at triple rate.