Conditions

1) Target Bid/Ask spreads

Our forex bid / ask spreads listed are our best possible target spreads used in normal market conditions. In quiet market conditions, the spread may be even narrower but in periods & volatile markets the spread maybe increased and autoexecution disabled. Please consult your Introducing Broker or ANB to obtain further information about our spread range and its implications to your account.

2) Autoexecuted trades

ThesMajor currency trades can be autoexecuted for amounts below the autoexecution limit. Autoexecuted trades are automatically accepted without intervention from the bank. For trade sizes over the autoexecute limit and in volatile market conditions, the trade must first be approved by a dealer which normally takes just a few seconds.

*Note that these are typical autoexecute limits that can change over the day, depending on the market conditions and available liquidity.

3) Ticket fees for low-value trades

For Forex trades below the Ticket Fee Threshold listed, a small ticket fee of USD 10 is added to the trade to cover administration costs.

Margin calls

You must maintain the margins listed in your account at all times. If the funds in your account fall below this margin, you will be subject to a margin call to either deposit more funds to cover your positions or close positions — normally you will be notified through our trading platform and via email. If your margin situation is not remedied, we may close positions on your behalf.

Forex Trading Hours

ANB is open for Forex trading:

  • From Monday 06:00 Sydney local time ( Currently Sunday 19:00 GMT)
    ( Sunday 22:00 Riyadh time )
  • To Friday 17:00 New York local time
    ( Currently Friday 22:00 GMT)
    ( Saturday 1:00 Riyadh Time )

Conversion of profits and losses

Currency conversions of profits and losses from trading activities are done using the close rate at New York (5pm New York time) plus/minus 0.5%.

Positions held until their Value Date

Spot Forex positions held at the end of the business day before their Value Date will be rolled over to a new Value Date on a Tom/Next basis. As part of the rollover, positions are subject to a swap charge or credit based on the LIBOR/LIBID interest rates of the two traded currencies with an added a markup of +/- 0.25% (for retail accounts) plus an interest component of LIBOR/LIBID +/- 0.75% for any unrealized profit/loss on the position.

Alarabi e-Trader rates

Alarabi e-Trader

These Forex crosses and trading rates are available to private clients with Alarabi e-Trader account.

Currency Minimum Deal Amount Currency Maximum Deal Amount
EUR USD 50,000 EUR 20,000,000
GBP USD 50,000 GBP 5,000,000
USD CHF 50,000 USD 15,000,000
USD JPY 50,000 USD 10,000,000
AUD USD 100,000 AUD 5,000,000
USD CAD 50,000 USD 5,000,000
GBP JPY 100,000 GBP 5,000,000
EUR YEN 100,000 EUR 10,000,000
EUR CHF 100,000 EUR 10,000,000
XAU USD 100 XAU 2,000
XAG USD 5,000 XAG 50,000
EUR GBP 100,000 EUR 10,000,000