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Forex Trading - FX Currency Trading

Competitive Pricing

At MGMC we quote major foreign exchange (forex) currency pairs to four decimal places which allow us to be more accurate in our pricing offering traders the best possible forex spreads.

With prices measured in 1/10th of a pip the view of the foreign exchange market and its direction is easily identifiable in comparison to four-digit pricing where currency trading figures are ‘rounded up’ or ‘rounded down’.

Forex Spreads

MGMC is proud to offer competitive spreads on all our MGMC TRADER forex currency pairs. On the major pairs, such as the EUR/USD and GBP/USD, FX spreads start at 3 pips.

Forex Trading Times

Forex trading online is available from Sunday 23:00 to Friday 21:00 (GMT+1 Time) allowing traders access during all forex market trading times except 22:00 to 23:00 (Monday to Friday, daily) will be closed for maintenance.

Order Sizes

MGMC can execute any MGMC TRADER forex order size starting from 1 lot or the equivalent of 100,000 of the base currency with maximum order size of 50 lots.

Order Types

FX Traders can execute a number of orders with MGMC, including:

Instant execution Buy limit Sell limit Buy stop
Sell stop Take profit Stop loss Good till cancelled


If a forex trade is kept open overnight, then the swap/rollover cost/income is calculated on that position. The cost or income is calculated as the overnight interest rate differential between the two currencies on which the position is held, depending on the type of the position (long/short).

It is important to remember that you can gain or lose on swap and as such, you have either positive rollover or negative rollover. There is a possibility that some instruments may have negative rollover values on both sides, because MGMC charges its own interest, based on the overnight interbank rate and therefore the positive and negative values are decreased accordingly.

In the currency trading terminal ’swap’ is automatically converted into the balance currency. Operation is conducted at 23:59 server time. From Friday to Monday swap is charged once. From Wednesday to Thursday swap is charged at triple rate.

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