Trading Condition

The minimum initial deposit when opening an account with AS “SMP bank” is USD 2,000.

You can select currencies from EUR or USD as the base currency of your account and all transactions will be converted back to the base currency of your account.

Please note that due to regulatory restrictions only Forex Spot, Forex OTC Options, Saxo Bank Managed FX Funds, Spot Gold and Silver can currently be offered to US residents.

These commissions are for each contract and for each trade (buy or sell) through SMPTrader and exclude exchange fees which are listed under the Contract Specifications.

For contract futures not traded directly online, a commission fee of USD 15 per contract per trade is charged which includes exchange fees.

Stop and stop-limit orders are subject to support by the exchange on which the contract is traded. The order types available are noted in the popup details for each contract.

The initial margins listed below are the collateral per contract that you must have in your account to open a position.

Futures contracts are traded on margin, enabling you to leverage a small margin deposit for a much greater market effect.

You must maintain the maintenance margins listed per contract in your account at all times. If the funds on your account fall below this margin, you will be subject to a margin call to either deposit more funds to cover your positions or close positions normally you will be notified through our trading platform and via email. If your margin situation is not remedied, we may close positions on your behalf.

Partial fills may occur on limit orders and the remaining amount will stay on the market as a limit order and may be filled within the order duration.

Market orders can be filled at numerous levels, the price paid will be the volume weighted average price of all the fills.

Please note that SMPTrader does not support physical delivery of the underlying security upon expiry of a futures contract. We therefore advise you to be aware of the expiry and first notice dates of any futures contracts you invest in and ensure that you close your position before this date. If you do not close a futures position before its expiry or first notice date, the platform will automatically close your position for you at the first available opportunity at the prevailing market rate. Any resulting costs, gains or losses will be passed on to you.

If you require any assistance or clarification regarding the expiry of futures contracts, please contact SMPTrader team.

Currency conversions of trading costs as well as profits and losses from trading activities are done using the prevailing close rate as of 17:00 New York Time, plus/minus 0.5%.