FX Contract definition

FX Contract is any foreign exchange contract by and between Borrower and Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date.

FX Contract or “FX” shall mean the type of CFD where the Underlying Asset is a Currency Pair. Hence, any mention to CFDs in this Agreement also covers FX Contracts. So, although, FX Contracts are included in the definition of CFDs, they may be mentioned separately in this Agreement and/or on the Company Website and various Company policies.

FX Contract is any foreign exchange contract by and between Borrower and Bank under which Borrower commits to purchase from or sell to Bank a specific amount of Foreign Currency on a specified date. “GAAP” is generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other Person as may be approved by a significant segment of the accounting profession, which are applicable to the circumstances as of the date of determination.

Examples of FX Contract in a sentence

• If you are short on a Margin FX Contract where the sold currency interest rates are higher than the bought currency interest rates you will pay interest at the Swap Rate if you hold the Position overnight and do not close it before the settlement time.

• The Contract Unit of a Margin FX Contract will be the quantity of the Underlying Instrument in counter currency as specified in the Product Schedule available on the Trading Platform and updated from time to time.

• If you are long on a Margin FX Contract where the bought currency interest rates are higher than the sold currency interest rates you will receive interest at the Swap Rate if you hold the Position overnight and do not close it before the settlement time.

• The Contract Price of a Margin FX Contract will be a bid or offer price (whichever is applicable) calculated by us by applying our markup to the rates provided to us by third party provides.

• This means you will not own or have any interest in the physical currency, Index, Commodity, cryptocurrency or bullion which is the subject of the Margin FX Contract or CFD.

More Definitions of FX Contract

FX Contract means a contract between The Company and its Client to exchange two currencies at an agreed exchange rate.

FX Contract means any or all of the foreign exchange contracts (excluding MiFID II Regulated FX Contracts) which you enter into with us and which include, but are not limited to, spot and forward foreign exchange contracts;

FX Contract is defined in Section 2.1.3.

FX Contract means any Contract Terms where the Underlying is a currency or pair of currencies, as determined by the Exchange from time to time;

FX Contract means any contract, whether oral or written, for the purchase or sale of any currency, including any derivatives such as an option, a future or other related transaction, entered into by us with you.

FX Contract means a contract between us and you whereby you agree to purchase Purchase Monies from us.

FX Contract means a contract between us and you to exchange two currencies at an agreed exchange rate.