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Trading Hours

Zecco Forex trading hours are from 5:00 pm ET Sunday through 5:00pm ET Friday.

Currency Pairs

24/5 trading is available in 37 currency pairs: EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, EUR/JPY, EUR/GBP, EUR/CHF, GBP/JPY, AUD/JPY, CHF/JPY, EUR/AUD, GBP/CHF, NZD/USD, NZD/JPY, EUR/CAD, CAD/JPY, AUD/NZD, AUD/CAD, GBP/CAD, GBP/AUD, EUR/NZD, GBP/NZD, AUD/CHF, NZD/CHF, NZD/CAD, CAD/CHF, USD/HKD, USD/SGD, SGD/JPY, USD/NOK, USD/SEK, USD/DKK, EUR/NOK, EUR/SEK and EUR/DKK.

Dealing Spread

At Zecco Forex, you can trade on dealing spreads as low as 1-2 pips on the most widely traded currency pairs. And with our fractional pip pricing, you gain an extra digit of precision so that you can take advantage of smaller price movements.

Trading Minimums

Mini Accounts

Minimum transaction size for mini accounts is 1/10th standard sized lot, or 10,000 of the base currency, with a minimum margin deposit of 1% (up to 100:1 leverage). For example, a US$10,000 position would require an initial margin deposit of US$100. Increasing leverage increases risk.

Standard Accounts

Minimum transaction size for standard accounts is 1 lot, or 100,000 of the base currency, with a minimum margin deposit of 1% (up to 100:1 leverage). For example, a US$100,000 position would require an initial margin deposit of US$1,000. Increasing leverage increases risk.

Fees

Zecco Forex charges no trading commissions or transaction fees, we are compensated for our services through the bid/ask spread. At Zecco Forex, clients can trade on spreads as tight as 1-2 pips on the most widely traded currency pairs. Learn more about Zecco Forex's pricing and dealing spreads.

Price Quotes

Zecco Forex clients have the ability to execute trades directly from real time streaming bid/ask quotes. Live prices are continuously published to clients via the trading platform, and traders can at any time click on the current bid or offer and make a trade. Prices are updated automatically as market conditions dictate.

Trading over the Internet

Executing a deal via the Internet is a simple two-step process. Simply enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade - your deal is automatically executed. The dealing software automatically calculates the initial margin requirement based upon the notional amount of the deal, and if sufficient funds are available in your account, will accept the transaction. Deals are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current P&L.

Phone Trading

Live clients may trade over the telephone 24 hours a day, from Sunday at 5:00pm ET through Friday at 5:00pm ET. All trades executed via the phone are subject to a pre-deal margin availability check and will be manually entered into the customer's account for integrated P&L analysis and reporting. All telephone calls are recorded for the safety of both parties.

Phone Dealing Procedure

  1. Immediately state your ID and Password.
  2. State your interest. Always be sure to include the number of lots and the currency pair you are interested in.

    Example: "I would like a price on 5 lots of Euro/Dollar."

  3. The Dealer will then provide a 2-way price quote.

    Example: "Euro/Dollar is 1.2855/58" (the first number being the bid, the second the offer)

  4. State your trade.

    Example: "At 1.2855, I sell 5 lots of Euro/Dollar" or "At 1.2858, I buy 5 lots of Euro/Dollar"

  5. If you do not wish to deal at the quoted levels, simply say "Nothing Done", hang up and call again later. Or, place a limit or stop order at your desired level.
  6. Remember: A price given is the dealing price at that time; haggling is not allowed nor are Traders allowed to remain on the phone until the price changes.
  7. It is important to remember that Dealing Desk phone lines are reserved for dealing/order purposes only, and that proper Phone Dealing Procedures be observed at all times. All other inquiries, such as account issues or general information, can be addressed through 866 567 0295 (Toll Free), +1 626 529 7078 (International) or via email: customerservice@zeccoforex.com.

Order Types*

The dealing platform provides sophisticated order entry and tracking. Orders may be entered at any rate - inside or outside the existing spread - using the following order types:

Limit Orders

An order with restrictions on the maximum price to be paid or the minimum price to be received.

If a trader is long USD/CHF at 1.4627, a limit order would be entered to sell dollars above that price, for example, at 1.4800.

Stop Loss orders

Order type whereby an open position is automatically liquidated at a specific price. Often used to minimize exposure to losses if the market moves against an investor's position.

If the trader above is long USD at 1.4627, a stop loss order could be left at 1.4549, in case the dollar depreciates below 1.4549.

As a rule, sell stops are filled on our bid, and buy stops are filled on our offer. This allows the trading platform to fill client stop orders at the rate they requested in almost every case. In the rare instance that the market gaps over a requested rate, the stop is filled at the best available price. This is an important point for traders who are accustomed to being filled on sell stops when the offer reaches the requested order rate. For example, if a stop order is placed to sell USD/CHF at 1.4549, the trader will be filled when the bid reaches 1.4549 (i.e. the bid/offer is 1.4549/54).

One Cancels Other orders (OCO's)

A contingent order providing that one part of the order is cancelled if the other part is executed. This is a particularly useful order type in that it allows traders to execute specific trading strategies based on technical analysis - without having to watch the market tick by tick.

As above, with the trader long USD/CHF at 1.4627, a typical OCO order would be a stop loss at 1.4562 and a limit (take profit) at 1.4700. If one part of the order is filled, the other is automatically cancelled.

If / Then Single

A conditional order providing that if the first order ("If" order) is executed, the second order ("Then" order) is activated as a live, single order.

In cases where the If order does not execute, the Then single order will remain dormant. When either part of an If / Then order is cancelled, all parts of the order are cancelled as well.

An example of an If / Then single order would be to first place an 'If' limit order to buy EUR/USD at 1.0690, fifty points below the current market rate of 1.0740. The 'Then' part of the order would be a limit sell order to take profit at 1.0770 (eighty pips above the 'If' order execution rate of 1.0690). If the market dips to 1.0690 the 'If' order will execute and the 'Then' leg of the order will become active. Note: the 'Then' order could also have been a stop loss order at 1.0650 (forty pips below the execution rate of 1.0690).

If /Then OCO

A conditional order providing that if the first order ("If" order) is executed, the second order ("Then" order) is activated as a live, One Cancels Other (OCO) order. The execution of either one of the two 'Then' orders automatically cancels the other.

In cases where the 'If' single order does not execute, the 'Then' OCO order will remain dormant. When any part of an If / Then OCO order is cancelled, including either leg of the OCO order, all parts of the order are cancelled as well.

An example of an If / Then OCO order would be to first place an 'If' limit order to buy USD/JPY at 118.80, fifty points below the current market rate of 119.30. The 'Then' part of the order would be an OCO order: one leg of the OCO could be a limit sell order to take profit at 119.60, (eighty pips above the execution rate of 118.80) the other leg a stop loss order to sell at 118.50 (thirty points below the execution rate). If the market reaches 118.80, the 'If' single order is executed, and the 'Then' OCO order is activated. If activated, the execution of either leg of the 'Then' OCO order automatically cancels the other.

All of the above orders may be entered as Day Orders, entered today and good until end of NY business day (1700 ET). Or, clients may choose to enter a Good 'til Cancelled Order (GTC), which is valid for 90 days or until the order is executed or cancelled. Orders remain open until they are triggered or cancelled. If you close out a position manually, you must cancel any order(s) relating to that position.

* Placing contingent orders may not necessarily limit your losses.

Order Execution*

First In First Out (FIFO)

Open positions are closed according to the FIFO accounting rule. All positions opened within a particular currency pair are liquidated in the order in which they were originally opened.

Stop Loss Orders

As a rule, sell stops are filled on our bid and buy stops are filled on our offer. This is an important point for traders who are accustomed to being filled on sell stops when the offer reaches the requested order rate. For example, if a stop order is placed to sell USD/CHF at 1.4549, the trader will be filled when the bid reaches 1.4549. In the rare instance the market gaps over a requested rate, a stop order is filled at the best available price.

Limit Orders

Sell limit orders are filled when the bid reaches the requested rate; limit orders to buy are filled on the offer. For example, a limit order to buy EUR/USD at 1.0456 will be filled when the offer hits 1.0456.

Good Til Cancelled (GTC) Orders

All GTC orders remain open until they are triggered or cancelled. If you close out a position manually, you must cancel any order(s) relating to that position.

Orders left over the weekend or holidays

Orders left pending at close of trading on Friday at 5:00pm ET or placed over the weekend are subject to a gap open on Sunday evening when trading starts at 5:00pm ET. For both stop loss and limit orders - if your order is triggered due to news, events or other fundamental factors, it will not be executed over the weekend. Your order WILL be executed at the prevailing price when the trading desk opens Sunday. Because of the additional gap risk involved, you may want to reconsider leaving open orders over the weekend or holidays.

 

* Placing contingent orders may not necessarily limit your losses.

Margin

The maximum available margin is 1% (up to 100x leverage) for mini accounts and 1% (up to 100x leverage) for standard accounts. Higher leverage magnifies both your gains and losses, traders always have the option of employing a lower degree of leverage.

The minimum margin requirement is approximately $100 per lot in a mini account and approximately $1000 per lot in a standard account. 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 the counterparty.

Margin Example

USD Based Currency Pair

Margin = (Contract size / Leverage)

You have $500 in a mini account. To calculate the margin required to execute 4 mini lots of USD/JPY (40,000 USD) at 100x leverage, simply divide the deal size by the leverage amount e.g. (40,000 / 100 = 400). You post $400 margin for this trade, leaving a $100 balance in your account.

Non-USD Based Currency Pair

Margin = [(Contract Size x Price) / Leverage]

In this example, you have $5,000 in a standard account. You want to execute 3 lots of EUR/USD (300,000 Euros) at the current market price of 1.2710 using up to 100x leverage. To calculate the required margin for this position, multiply the deal size (300,000) by the price (1.2710) and then divide by the leverage (up to 100x), e.g. [(300,000*1.2710)/100] = $3,813. After you executed this trade, you would have a $1,187 balance in your account.

The trading platform automatically calculates margin requirements and checks available funds before allowing you to successfully enter a new position. If you do not have adequate funds available to enter a new position, you will receive an "insufficient margin funds" message when attempting to deal.

If the unrealized P&L of your net total open position falls below your margin balance, your account is under margined and all your open positions may be liquidated. To avoid liquidation of your positions, do not use your entire account balance as margin for open positions. Instead, leave enough funds in your account to withstand a market movement against your open positions. We suggest you always use stop loss orders in an attempt to limit your downside risk. Placing contingent orders, will not necessarily limit your losses.

Please contact Zecco Forex client services should you wish at any time to use a lower degree of leverage or otherwise adjust the margin settings in your account.

Rollovers

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.

Customer positions automatically roll forward to the next day's value date following the close of NY trading at 1700 ET. Rollover credits or debits are reflected in the unrealized P&L of the open position, and a rollover report (available in the "Reports" tab of the trading platform) provides additional detail of rollover activity.

Daily Housekeeping

Daily Housekeeping will occur each evening at 1700ET and will last approximately 5 minutes. Online trading MAY be unavailable, but phone orders will be accepted.

Confirmations

Deals are confirmed on screen, typically within one second. Full transaction details may be accessed on screen as well, including date, time, rate, notional amount bought and sold, USD value, and reference number.

Reporting

The dealing 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.

In addition, by clicking on the 'reports' tab on the menu bar, clients may access five ad hoc reports:

  1. Account Value Summary - an online monthly account statement. View current account balance (realized P&L) for a selected month, as well as all deposits, withdrawals, interest earned, and fees charged (if any).
  2. Detailed Transaction Listing - lists complete trade detail for any selected date range, including deal date, currency pair dealt, trade direction (buy or sell), contract size for both currencies in the pair dealt, and executed deal rate.
  3. Open FX Positions - a summary view of all open positions, including contract size, USD value, average rate of open positions, reval rate (current market rate), and unrealized P&L. This report supplements real-time position information available in the position management screen of the trading platform.
  4. Order History - provides detail on all order activity for a selected data range, including order entry date and time stamp, listing of all cancelled and/or executed orders, along with its reference number. The Log Entry column provides a confirmation number and action detail for any order.
  5. Rollover History - provides rollover details for any transaction held open past 1700 EST, including rollover rate and USD value. May be generated for any given date range.

Note: All reports can be printed and/or exported into Microsoft Excel via a simple cut and paste.

Account Statements

Customer account statements are provided online in the Reports section of the trading platform. Customers have access to a full suite of available reports, including account value summary, detailed transaction listing, open positions, etc. Reports may be generated for any date range, and printed or saved for future reference. For more information on the available reports, please see our user guide.

Funding Your Account

There are four easy ways to fund your account.

Existing clients may fund their trading account immediately by logging into MyAccount.

Credit Card*

Deposits via Visa and MasterCard are accepted. You must login to MyAccount to fund your account via credit and debit card.

Please click here to start the credit card deposit process.

*All card-based transactions are automatically converted to US Dollars; you may incur additional fees by your card issuer for currency conversion.

eCheck (ACH Payment)

eChecks are a quick and secure way to transfer funds between your bank and Zecco Forex account. We accept deposits from US bank accounts only. eChecks may take 2 to 5 business days to clear and be credited to your trading account. Click here to log into MyAccount, our secure client area to make an eCheck deposit to your Zecco Forex account.

Wire Transfer - The fastest and easiest way to fund your account

Funds sent via wire are typically received within 1-2 business days. All wire transfers should include the client's name and account number in the reference section of the wire. Please be sure that the beneficiary is listed as GAIN Capital. Please also include your Zecco Forex trading account number.

Personal or Business Check

Funds sent via personal or business check generally take 5-10 business days (from date of receipt) to clear and be credited to client's trading account, This can vary depending on the bank and state of issue. International checks may take several weeks to clear.

Please make all checks payable to GAIN Capital and mail to: GAIN Capital, attn: Zecco Forex, 550 Hills Drive Bedminster, NJ 07921.

Zecco Forex, Inc. ("Zecco Forex") acts as an introducing broker to GAIN Capital Group, LLC ("GAIN Capital"). Your account is held and maintained at GAIN Capital who serves as the clearing agent and counterparty to your trades. GAIN Capital is a registered Futures Commission Merchant (FCM) and a member of the National Futures Association (NFA #0339826).

Withdrawal Requests

To withdraw funds from an existing account, please login to MyAccount.

Withdrawal requests are processed within two (2) business days of receipt. There is no fee for withdrawal requests via check. Withdrawal requests via wire transfer will incur a $25 fee for wires within the United States, and $40 fee for international wires (including Canada).

Free Forex Trading Practice Account
Try currency trading with a free
$50,000 Zecco Forex practice account
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More details about online investing and trading stocks with Zecco Trading:


Zecco Trading has reconstructed the mold of options trading and stock trading online, making it easier than ever for you to get smart and act smart with your money. Need to sell stock or buy stock online, interested in penny stocks? At Zecco Trading, get 10 free stock trades every month when you maintain a $25,000 balance or execute 25 trades each month. Otherwise it's just $4.50 per trade. Free Online Stock Trading Details. Where else will you find a discount broker who looks out for your best interest by providing you free online stock trading and a community of investors to share ideas with?

The ZeccoShare Community is a great complement to Zecco Trading. With ZeccoShare you can learn online about stock trading and get advice on stock trades and options trades from people who invest like you and who have similar risk tolerance. Who says online investing is complex? It doesn't have to be. With ZeccoShare you'll be able to ask questions, contribute investing ideas, share your investment portfolio (but not any dollar amounts), share your stock trades or options trades and your investing performance to help everyone learn to be a better investor.

Read our education section for information on How to Trade Options.

Terms of Service - Privacy Policy


Zecco.com is a financial portal of Zecco Holdings, Inc., which also provides access to Zecco Trading, Inc.'s and Zecco Forex, Inc.'s trading service. Zecco Holdings, inc. is not a securities broker/dealer. All securities and investments are offered to self-directed investors by Zecco Trading, Inc. Member FINRA /SIPC. Foreign exchange trading is offered to self-directed investors by Zecco Forex, Inc. Zecco Forex, Inc. and Zecco Trading, Inc. are affiliated but separate companies. More information is located on the disclosures page.

At Zecco Trading, get 10 free stock trades every month when you maintain a $25,000 balance or execute 25 trades each month. Otherwise it's just $4.50 per trade. Free Online Stock Trading Details. Options trades are $4.50 plus $.50 per contract. Only the first account of any account type is eligible for the Zecco Trading, Free Trading program. Any multiple accounts of the same type with the same registration are not eligible for the free trading program. Free Trading Program is only available through Zecco.com. $0 minimum to open cash and IRA accounts.

* Margin accounts require a $2,000 minimum balance for opening and trading on margin. Margin trading involves risks and is not suitable for all accounts.

Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options.

Multiple leg options strategies involve additional risks and multiple commissions, and may result in complex tax treatments. Please read Spread Trading Disclosure.

Investors should consider the investment objectives, risks, and charges and expenses of a mutual fund or ETF carefully before investing. A mutual fund/ETF's prospectus contains this and other information, and should be read carefully before investing.

Forex trading involves significant risk of loss and is not suitable for all investors. Increasing leverage increases risk. Before deciding to trade forex, you should carefully consider your financial objectives, level of experience and risk appetite. Any opinions, news, research, analyses, prices or other information contained does not constitute investment advice. Read full disclosure.

System response and access times may vary due to market conditions, system performance, and other factors.

The content of Zecco Holdings, Inc.'s, Zecco Trading, Inc.'s, and Zecco Forex, Inc.'s websites, including research, tools and securities symbols, is for educational and informational purposes and should not be intended as a recommendation or solicitation to engage in any particular securities transaction or investment strategy. You alone are responsible for evaluating the benefits and risks associated with the use of our services or products and to decide which securities and strategies better suit your financial situation and goals, risk profile, etc. The projections regarding the probability of investment outcomes are hypothetical and not guaranteed for accuracy or completeness. They do not reflect actual investment outcomes and are not guarantees of future results. Projections and tools' calculations do not take into consideration commissions, margin interest and other costs that will impact investment outcomes. All investments involve risk. Losses may exceed the principal invested. Past performance of a security, market, or financial product does not guarantee future results. Neither Zecco Holdings, Inc., Zecco Trading, Inc., nor Zecco Forex, Inc. offers any tax, legal or financial advice. Content on these websites may be out of date or time-sensitive. Content is subject to change or removal without notice.

No consideration was paid for any testimonials displayed on this website. Your experience may vary, and the testimonials are no guarantee of future performance or success. Zecco Holdings, Inc., Zecco Trading, Inc., Zecco Forex, Inc. and their independent providers are not liable for any errors, incompleteness, or delays, or for any actions taken in reliance upon information contained herein. By accessing our websites, you agree not to redistribute the information found therein.

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