Trading Handbook

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Trading Hours

Gallant FX’s support office is open from Sunday 6 p.m. EST to Friday 5 p.m. EST

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Currency Pairs

Gallant FX currently offers 24 hour trading in the following pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD,
AUD/USD, EUR/JPY, GBP/JPY, EUR/AUD, EUR/CHF, EUR/GBP, EUR/CAD, GBP/CHF, GBP/NZD, GBP/CAD, GBP/AUD, NZD/USD, NZD/CHF, NZD/JPY, AUD/NZF, AUD/JPY, AUD/CAD, CHF/JPY, CAD/JPY, USD/DKK, USD/NOK, USD/HKD.

We are always on the lookout for new pairs to add to the platform based on our client needs. If you do not see the currency pair you would like to trade, please feel free to contact us about adding it to our offerings.

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Execution Spreads

Gallant FX offers pip spreads as low as 1 pip on the more widely traded pairs on a variable pricing structure. Due to our straight through processing, the spreads will vary, which includes times of high market volatility, before and after major economic releases, and following other important news and events. Spreads and liquidity will reflect the prevailing interbank market liquidity.

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Minimum transaction size for standard accounts is 1/10th standard sized lot (.10), or 10,000 units of the base currency, with a minimum margin deposit of 1.0% (100:1 leverage). For example, a US $10,000 position would require an initial margin deposit of US $100.

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Fees

Gallant FX does not charge any commission or fees on any of its transactions: The price you trade on is the only cost to you. The cost of trading is built into the bid/offer spread. In addition, there are no hidden setup fees for opening an account.

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Price Quotes

Trades are quoted via transparent "Straight Through Processing"; live prices are continuously published to clients through our trading platform, and traders can at any time click on the current bid or offer and execute a market trade. Trades are executed via “Market Execution” and will automatically update as the market dictates.

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Trading Over the Internet

Executing a trade through Gallant FX is a simple procedure. Enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade. Your trade is automatically executed. The trading software calculates the initial margin requirement based upon the notional amount of the trade, and if sufficient funds are available in your account, will accept the transaction. Trades are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current P&L. Please note: all pending orders will be placed using margin rates of 100:1 leverage.

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Order Types

Market Orders are the most common type of order. A market order is used when you want to execute an order immediately at the market price, which is either the displayed bid or ask price on the screen. You can use the Market Order to enter a new position (long or short) or to exit an existing position (buy or sell). When on the order platform, "Type" will read "Market Execution". For more information, see Forex 101.

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Associated Orders

Associated Orders are either entry orders or open position that have a stop loss and/or a limit order (take profit) attached to the position. For example: you buy 1 lot of EUR/USD and place a stop loss and limit order (take profit). These two orders are associated to the EUR/USD position. Note: on the GallantFX platform (MetaTrader 4), if you were to close the EUR/USD position prior to the associated order being executed, they will automatically cancel which is an efficient advantage during trading.

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Margin

The maximum available margin is .25%, or 400:1 leverage for accounts up to $5000 USD.  Accounts can trade with .50%, or 200:1 leverage for accounts up to $25,000 USD. Gallant FX’s Traders have the option of using a lower degree of leverage upon request. If maximum leverage is employed, traders must maintain the minimum margin requirement on their open positions at all times. It is the customer's responsibility to monitor his/her margin account balance. Gallant FX has the right to liquidate any or all open positions whenever a trader's minimum margin requirement is not maintained.

This is an important risk management feature designed to strictly limit trading losses in an account. The minimum margin requirement is approximately $25 per lot of 10,000 units of base currency in a standard account w/400-1 leverage. The requirements for leverage may vary with account size or market conditions, and may be changed from time to time at the sole discretion of GallantFX or upon request. Note: margin cannot be changed while holding open positions.

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Gallant FX clients have the opportunity to earn interest on positions left open overnight at all margin levels. The amount of interest that can be earned depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, UK interest rates are significantly higher than Japan's, so if a trader is long GBP/JPY (i.e. holding British Pounds), they can earn interest on the roll. Conversely, if a trader is short GBP/JPY (i.e. holding yen) they will pay interest on the rollover.

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Daily Housekeeping will occur each evening at 1700ET and will last approximately 5 minutes. During that time, back office staff will conduct daily rolls and important system maintenance tasks will be performed. Online trading MAY be unavailable, but we will do our best to keep it available.

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Confirmations

Trades are confirmed on screen, typically within one second. Full transaction details may be accessed on screen as well, including date, time, rate, and notional amount bought and sold, USD value, and reference number.

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Reporting

The trading software tracks all trading activity in real time, allowing clients to view current open positions, real-time profit and loss, margin availability, account balances, and all historical transaction details directly on-screen.

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Account Statements

Customer account statements are provided online in the "Account History" section of the trading platform. Reports may be generated for any date range, and printed or saved for future reference. For more information on the available reports, please access the "Help" tab on the platform.  Monthly account statements are mailed upon request only. To receive monthly account statements by mail, you must complete and return a "Request to Receive Monthly Account Statement by Mail".

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Funding Your Account

There are two easy ways to fund your account. Existing clients may fund their trading account immediately.

  • 1. Wire Transfer - The easiest and most efficient method to fund your account. Funds are typically received by Gallant FX within 1-2 business days. All wire transfers should include the client's name and account number in the reference section of the wire. Please be sure that the beneficiary is listed
  • 2. Personal or Business Check - Funds sent via personal or business check generally take 3-5 business days (from date of receipt) to clear and be credited to a client's trading account. This can vary depending on the bank and state of issue. International checks may take several weeks to clear.
  • 3. EFT (Electronic Funds Transfer) - Transfer funds by e-check directly from your account. Gallant FX will only accept EFT payments in US dollars. Transactions typically take 1-2 business days.


Please make all checks payable to "MorningView Group" and mail to: Gallant FX, 50 Broad Street, Suite 1020, New York, NY, 10004. These limitations are part of our effort to comply with all anti-money laundering laws and regulations.

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Withdrawal Requests

Withdrawal requests are processed within two (2) business days of receipt. There is no fee for withdrawal requests via ACH. Withdrawal requests via wire transfer will incur a $35 fee.

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 * Gallant FX is compensated for its services through the bid/ask spread.
** Does not apply during major fundamental announcements, or outside Gallant FX's normal trading hours.
+ Increasing leverage may increase gains or losses on any given trade.

 
 
 

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