Odin Forex's trading desk is open 24 hours daily from EST Sunday 19:00 to Friday 16:00 (Daylight Saving Time).
Odin Forex currently offers 24 hour trading in the following pairs: EUR/USD, USD/JPY,GBP/USD, USD/CHF, EUR/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, GBP/CHF, CHF/JPY, EUR/CAD, AUD/CAD, AUD/JPY, NZD/JPY, GBP/CAD, EUR/AUD, CAD/CHF, CAD/JPY, AUD/CHF.
If you do not see the currency pair you would like to trade in the above list, please feel free to contact us about adding it to our portfolio.
In order to view all available currency pairs in the Market Watch window inside the Metatrader trading platform, just move your mouse cursor inside the Metatrader over the currency pairs located in the Market Watch window, right click your mouse on any of the currency pair symbols and select 'Show All' from the popup menu.
Trades are quoted via transparent 'Straight Through Processing'; live prices are continuously published to clients via our trading platform, and traders can at any time click on the current bid or offer and execute a market trade. Trades are executed via 'Market Execution' and the prices are updated automatically as market conditions dictate.
Odin Forex offers its clients a simple procedure for executing a trade. Through our trading platform, just enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade. Your trade is automatically executed. The trading software calculates the initial margin requirement based upon the notional amount of the trade, and if sufficient funds are available in your account, will accept the transaction. Trades are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current P and L.
The maximum available margin is 0.1%, or 1:1000 leverage for Micro accounts. Standard accounts can trade with 0.2%, or 1:500 leverage. Premium accounts can trade with 0.5%, or 1:200 leverage. STP/ECN accounts can trade with 1%,or 1:100 leverage.Odin Forex Traders have the option of using a lower degree of leverage upon request. If maximum leverage is employed, traders must maintain the minimum margin requirement on their open positions at all times. It is the customer's responsibility to monitor his/her margin account balance. Odin Forex has the right to liquidate any or all open positions whenever a trader's minimum margin requirement is not maintained.
This is an important risk management feature designed to strictly limit trading losses in an account. The minimum margin requirement is approximately $25 per lot of 10,000 units of base currency in a standard account with 400:1 leverage. The requirements for leverage may vary with account size or market conditions, and may be changed from time to time at the sole discretion of Odin Forex or upon request.Note: margin cannot be changed while holding open positions.
Odin Forex clients have the opportunity to earn interest on positions left open overnight at all margin levels. The amount of interest that can be earned depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, UK interest rates are significantly higher than Japan's, so if a trader is long GBP/JPY (i.e. holding British Pounds), they can earn interest on the roll. Conversely, if a trader is short GBP/JPY (i.e. holding yen) they will pay interest on the rollover.
Trades are confirmed on screen, typically within one second. Full transaction details may be accessed on screen as well, including date, time, rate, and notional amount bought and sold, USD value, and reference number.
The trading software tracks all trading activity in real time, allowing clients to view current open positions, real-time profit and loss, margin availability, account balances, and all historical transaction details directly on-screen.
Customer account statements are provided online in the 'Account History' section of the trading platform. Reports may be generated for any date range, and printed or saved for future reference. For more information on the available reports, please access the 'Help' tab on the Metatrader trading platform.