FXON services will be temporarily suspended due to phased system upgrades and a platform redesign. As functions will be restricted in stages, we kindly ask that you close open positions and withdraw your account funds by March 31. (Details here)
FXON services will be temporarily suspended due to a full platform redesign. We kindly ask that you close open positions and withdraw your account funds by March 31. (Details here)
Yes, FXON allows hedging (holding both long and short positions) only within the same account.
FXON uses the 'offset method' for margin calculation when hedging. The offset method means that the required margin is offset when holding both long and short positions in the same currency pair simultaneously. If the position sizes are the same, the entire margin is offset; if the position sizes differ, only part of the margin is offset.
For example, if the following positions are held simultaneously, the entire margin requirement will be offset:
Buy Position: 2 lots (USDJPY)
Sell Position: 2 lots (USDJPY)
However, if the following positions are held simultaneously, the margin requirement for 1 lot will still apply:
Buy Position: 2 lots (USDJPY)
Sell Position: 1 lot (USDJPY)
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