Leveraged trading in major foreign currencies
You'll enjoy
- A wide choice of major foreign currencies, including Asian currencies (trading in Asian currencies is subject to the Bank's prevailing terms and conditions)
- 24-hour global trading and up-to-the-minute market information
- Prompt execution of all your trade instructions
- Attractive interest rates on your deposit based on prevailing interbank rates
- Competitive and cost-effective commission rates
The Mechanics
Here is an example to illustrate a spot agreement.
Let us assume that you have opened a FX Margin Trading Account and pledged a US$50,000 fixed deposit, thereby allowing you to leverage up to US$1,000,000 (i.e. 20 times your initial margin deposit)
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Spot Agreement
Buying and Selling on Spot Day
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1 Feb 2010, 8.00am
You observed that the EUR is overbought against the USD |
1 Feb 2010, 3.30pm
You observed that the EUR eases against the USD |
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You sell EUR500,000
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You buy EUR500,000 |
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You buy USD685,000
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You sell USD680,500 |
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@ rate (EUR/USD) 1.3700
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@ rate (EUR/USD) 1.3610
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Settlement Date 3 Feb 2010
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Settlement Date 3 Feb 2010
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You will close the two contracts on the same day, resulting in a profit of US$4,500 (US$685,000 - US$680,500) and credited to your UOB US Dollar Account.
What are the requirements?
- All businesses incorporated in and outside Hong Kong and individuals aged 21 years and above
- A minimum initial deposit of HK$250,000 or equivalent in any currency
How to apply?
- Please visit any UOB Group Branch or call our FX Margin Sales Team at (852) 2910 8883/2910 8878
Where can I get more information?
