Foreign Exchange
The foreign exchange market is the place where currencies are traded. The foreign exchange market is the largest, most liquid market in the world with an average traded value of approximately US$1 trillion to $1.5 trillion per day and individuals are becoming increasingly interested in it. It is sometimes called “Forex” or “FX” market. Margin Foreign Exchange trading allows you to access the global twenty-four hour interbank foreign exchange market as an individual or private company with small transaction sizes.
OMFinancial provides facilities for the purchase or sale of currencies for use in connection with a trade or business or for other commercial purposes, and not for the purpose of investment of speculation.
Foreign Exchange Options specify a foreign exchange contract and give the owner the right but not the obligation to enter into the specified contract with the seller during a pre-agreed period of time. The option owner exercises this right when it is to his/her advantage.
How can I get confirmation of my trades?
You will be sent an email at the end of each day’s trading confirming your fills along with any orders that you have working. A daily statement is also sent electronically from our Operations Department, which provides all transaction details, brokerage paid, including date, price, notional amount bought and sold. Account statements are sent at the beginning of each month, and list all transactions for the previous month by currency and value date, a summary of all current open positions, and account balances as calculated at the close of business on the last business day of the month. It is obviously important that you review your statements to ensure that it correctly reflects your position. If you have any doubts or questions please contact your Advisor immediately.
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