Trading Hours
Get access to the global forex markets during their official working hours with Warren Bowie & Smith. The Company is available from 10:00 pm GMT on Sunday until 10:00 pm GMT Friday, including online FX and commodities trading. The same applies to online FX or commodities, but it depends on which market you’re investing in. On the other hand, the operating hours for CFDs rely on the location of the market:
•The US Market CFDs are traded from 14:30 – 21:00 GMT, Monday to Friday.
•The European & British Market CFDs are traded from 8:00 – 4:30 pm GMT, Monday to Friday.
•The Asian Market CFDs are traded from 00:00 am – 2:00 am GMT and 15:30– 18:00 GMT, Monday to Friday.
Market conditions
There is a rollover fee at 0.022% of the overnight exposure of currencies, indices, ETF’s and commodities, 0.055% stocks and 0.50% on crypto. Warren Bowie & Smith executes a no slippage policy. That is why there is no extra charge on the spot orders during normal forex market conditions. No matter the forex market volatility Warren Bowie & Smith has fixed spreads for the buy (ask) and sell (bid) prices. On the other hand, the spot orders are executed at the quoted from the trader price.
Inactive Account
If an account is inactive for at least three (3) months, the Company reserves the right to charge a fee of US$ 500 quarterly. Suppose the account has been inactive for three (3) months and is funded by less than US$ 500. In that case, the Company reserves the right to cover administrative expenses by charging a lower amount and, consecutively, closing the account.
Credit-Out Rule
The Company applies the credit-put rule if a particular account is inactive for forty-five (45) days. Any trading credit existing in the account is removed. That happens when (i) there aren’t any entry orders or positions opened in the account; (b) in the last 45 days there were no opened and/or closed positions; and/or (c) within the previous 45 days no deposit transaction has been made. Nota bene! The withdrawal commission and/or inactivity does not make and an account “active”.
Deposits
Warren Bowie & Smith has a 200 USD as the minimum initial deposit amount. The clients can start trading right away. The base currency of all accounts is in US Dollars, so all accounts are denominated in it, and all trading deposits are converted into it.
Margin Liquidation
Margin liquidation happens if the equity of a trader’s account reaches zero. Then all positions are automatically closed. By doing this, Warren Bowie & Smith protects the client from being liable for an amount larger than the deposited money and going into a negative balance.
