JForex Account

Clients who choose to trade on the JForex platform may choose between the Fixed Commissions JForex Account or the Floating Commission JForex Account, which provides the same trading conditions as Dukascopy Bank.

Fixed Commission JForex Account

  • US$ 35 commission per US$ 1,000,000 for every executed trade. The total commission of US$ 70 per US$ 1,000,000 (includes US$ 35 for opening trade and US$ 35 for closing trade) is applied to the client’s trading account. For currency pairs with the different Base Currency from US$, the commission is calculated as 35 units per 1,000,000 of the Base Currency of the trade. (Example: 1,000,000 trade of AUDUSD or AUDCAD etc, then AU$ 70 commission will be applied, for the 1,000,000 trade). The commission is charged in the base currency of the account. For more details and examples please refer to our PDS
  • For precious metals, commission is charged as follows: US$ 52.5 per US$ 1,000,000. The total commission of US$ 105 per US$ 1,000,000 trade (includes US$ 52.5 for opening trade and US$ 52.5 for closing trade) is applied to the client’s trading account. For more details and examples please refer to our PDS
  • Spreads start from 0.2 pips on major currencies
  • Minimum lot size is 0.01 with gradual steps of 0.01
  • Trade on Dukascopy's Bank JForex Web Platform

Floating Commission JForex Account

  • Floating volume commission rate (depends on Net Deposit, Equity and Traded Volume as explained below)
  • Trade on Dukascopy's Bank JForex Web Platform

The volume commission is charged in the Base Currency for every executed trade. Volume commission rate is expressed in AU$ per 1 million AU$ traded. The volume commission is converted to the Client Account’s Base Currency. For Self Traders the volume commission rate depends on Net Deposit, Equity and Traded Volume (commissions come into effect at the settlement time)

Net Deposit
(AU$ equivalent)
Volume Commission in AUD per 1 million AU$
Currencies Precious metals
< 5 000 35 52.5
≥ 5 000 33 49.5
≥ 10 000 30 45
≥ 25 000 25 37.5
≥ 50 000 18 27
≥ 250 000 16 24
≥ 500 000 15 22.5
≥ 1 000 000 14 21
≥ 5 000 000 12 18
≥ 10 000 000 10 15

Net Deposit - is the sum of all deposits less the sum of all withdrawals in AU$ equivalent.

Equity
(AU$ equivalent)
Volume Commission in AUD per 1 million AU$
Currencies Precious metals
< 5 000 35 52.5
≥ 5 000 33 49.5
≥ 10 000 30 45
≥ 25 000 25 37.5
≥ 50 000 18 27
≥ 250 000 16 24
≥ 500 000 15 22.5
≥ 1 000 000 14 21
≥ 5 000 000 12 18
≥ 10 000 000 10 15

Equity - estimation of the account of the Client in AU$ equivalent at settlement time.

Traded Volume
(in AU$ equivalent)
Volume Commission in AUD per 1 million AU$
Currencies Precious metals
< 5 million 35 52.5
≥ 5 million 33 49.5
≥ 10  million 30 45
≥ 25  million 25 37.5
≥ 50  million 18 27
≥ 250  million 16 24
≥ 500  million 15 22.5
≥ 1 billion 14 21
≥ 2 billion 12 18
≥ 4 billion 10 15

Traded volume is volume of executed trades over the last 30 days in AU$ equivalent. In case Net Deposit, Equity and Traded Volume lead to different commission rates, the lowest rate applies (as illustrated in the examples below).

For Self Traders with several margin accounts, Net Deposits, Equities and Traded Volumes are cumulated to define a unique volume commission rate applied to all margin accounts. The volume commission is determined on a daily basis at every settlement time. The defined rate will be applied on the following trading day.

For Clients appointing an external manager/attorney, the volume commission rate may amount to a maximum of AU$ 100 per AU$ 1 million traded. All volume commissions are converted to the Client Account's Base Currency at the moment when the trade is executed, at the rate which is defined as average rate of the last 10 seconds candle.

Examples of volume commission calculation depending on Net Deposit, Equity and Traded Volume:

Example 1:

Client Account’s Basic Currency: AU$
Net Deposit in AU$ equivalent at settlement AU$ 50 000
Equity in AU$ Equivalent at settlement: AU$ 48 900
Traded Volume for last 30 days: AU$ 10 million
Volume Commission Rate according to Net Deposit: AU$ 18
Volume Commission Rate according to Equity: AU$ 25
Volume Commission Rate according to Traded Volume: AU$ 30
Applicable Commission Rate: AU$ 18

Trade made on the next trading date: BUY AUD/CHF 2 000 000 Volume Commission: AU$ 2 x 18 = AU$ 36

Example 2:

Client Account’s Basic Currency: CHF
Net Deposit in AU$ Equivalent at settlement AU$ 5 000
Equity in AU$ equivalent at settlement: AU$ 18 700
Traded Volume for last 30 days: AU$ 5 million
Volume Commission according to Net Deposit: AU$ 33
Volume Commission according to Equity: AU$ 30
Volume Commission Rate according to Traded Volume: AU$ 33
Applicable Commission Rate: AU$ 30

Trade made on the next trading date: BUY EUR/USD 100 000, EUR/AUD conversion rate at settlement 1.5200, AUD/CHF conversion rate at settlement 0.7080. Volume Commission: EUR 0.1 x 1.52 x 30 x 0.7080 = CHF 3.22

Example 3:

Client Account’s Basic Currency: US$
Net Deposit in AU$ Equivalent at settlement AU$ 5 000
Equity in AU$ equivalent at settlement: AU$ 14 200
Traded Volume for last 30 days: AU$ 84 million
Volume Commission Rate according to Net Deposit: AU$ 33
Volume Commission Rate according to Equity: AU$ 30
Volume Commission Rate according to Traded Volume: AU$ 18
Applicable Commission Rate: AU$ 18

Trade made on the next trading date: BUY USD/CAD 1 000 000, AUD/USD conversion rate at settlement 0.7200, Volume Commission: US$ 1/0.7200 x 18*0.7200 = US$ 18

Use of leverage

The Use of Leverage is an indicator showing how much of the collateral is currently used by the exposure on the trading account. It is displayed in percentage in real-time and calculated as follows:

  Used Margin  
Use of leverage =                                 x 100
  Equity  


*Note that the Used Margin equals to the exposure divided by leverage

Example:

Position of 1 mio EURUSD at 1.2000
Exposure on the account = USD 1,200,000
Profit and losses = 0
Leverage authorized for the account = 1:20
Equity = USD 100,000
Used Margin = Exposure on the account / Leverage = USD 1,200,000 / 20 = USD 60,000
Use of leverage = Used Margin / Equity = 60,000 / 100,000 = 60%

Margin call and margin cut policy

Margin call (Use of leverage >100%) means a situation where the margin requirements do not allow the client to increase exposure on his account. The client may only execute trades to reduce exposure, by closing or hedging the existing net positions. Despite the margin call level being reached, the positions will not be closed automatically. The automated system will cancel all placed bid/offer orders that can increase the exposure.

Margin cut or cut-off level (Use of leverage ≥ 200%) - if the Use of Leverage reaches or exceeds 200%, Forex FS has the right (but not the obligation) to fully or partially reduce the client's exposure by closing existing positions and/or by opening new positions in the opposite direction. Usually the system automatically reduces exposure so that the Use of Leverage is brought to approximately 100%. However, traders can select to fully close all open positions in case of a margin cut.

 Use of leverage Description
0% No exposure
<100% Normal status
≥100% Margin call: trader is not able to increase exposure on the account if the Use of leverage is more than 100%
≥200% Margin cut: typically system will open hedging positions in the opposite direction for all positions which contribute to exposure on the account. The Use of leverage will be decreased to 100% or less.

Over-the-weekend leverage

Maximum available leverage for the weekends and other market closure days is set to 1:30 (1:60 for accounts with maximum leverage 1:200). The purpose of this policy is to mitigate risks caused by potential price gaps during market closure, which may seriously threaten invested funds.

Standard algorithm: Over-the-weekend trading conditions are effective starting 3-4 hours before each market closure (weekend, holidays, etc) until re-opening of the market. For usual Friday night closure, over-the-weekend conditions would become effective at 18:00 [GMT], which may cause the Use Of Leverage to increase if there is an net exposure. Regardless of the over-the-weekend margin conditions, the general execution mechanisms of the margin call and margin cut remain the same. That is, if the amount of equity on the account is not sufficient to support existing positions with a leverage of 1:30, the margin cut procedure will be applied to the account (see paragraph Margin Call and Margin Cut).

Open a JForex Account
DISCLAIMER: Forex FS strives to provide clients with the best execution and competitive spreads available via direct market access. However, there may be times when market conditions (extreme volatility or volume) cause spreads to widen beyond our typical spreads - this market condition is known as a 'fast market'. Fast market conditions may be caused by various factors including, but not limited to, news releases such as non-farm payroll numbers, order imbalances-significantly greater orders of one type (e.g., "buys") than another type (e.g., "sells"). Liquidity withdrawal is a common measure used by Liquidity Providers at or right before the moment of key data releases such as the USA NFP. In the event of a fast market, spreads will widen as the market ascertains the correct value of a currency and prices can gap - a price gap occurs when the price of a market jumps from its last bid/offer quote to a new quote, without ever trading at prices in between those quotes. For example, EURUSD could trade 1.3510/12 ahead of an economic data release or news event with the first quote following the event being 1.3060/80 if the data or news reflected such a shift in sentiment. In these instances, stop losses, entry orders and margin calls will be executed at the best price available after the gap given the underlying market liquidity. Customers may experience a delay in execution, re-quoted prices different to their requested trade price, or execution of orders at different levels depending on size and reflecting the underlying market liquidity. Fast market conditions can occur at any time but are most common during economic data releases or news events especially where liquidity is at a premium (for example national holidays) or after a week-end as the market reopens. Wider spreads during fast market conditions or a market gap can significantly decrease the equity on your account and can trigger a margin call or equity stop loss level (liquidation of the least profitable positions).